My Beverage Start-up PDF Print E-mail
Thursday, 19 February 2009 00:00
Well, this is my first post to my new blog and I am excited to let the world know about the ups and downs of a launching a beverage start-up. Let me tell you, it's been quite the ride.

I started my project almost 2 years ago while working full time with another company. I have learned so much in such a small amount of time.

I would love to go back 2 years and tell you everything that I have gone through. Trust me, I could save you so much time and money.

On my blog, I will express my day to day activities including my successes and failures. I want to convey whats working and what isn't working. How often do you get to follow the day to day of a beverage company trying to raise $1 Million in a Recession?

In the past 6 months, I have submitted applications to a ton of websites. On the good side, I was accepted to the Angel Capital Summit in Denver, Colorado where only 40 companies were picked from over 200. I was able to present to over 50 investors, but was unable to secure funding. Even-though I didn't get the funding necessary, I felt it was a huge milestone to be pre-screened to the largest Angel Summit in North America. Only a couple companies were able to acquire funding.

I have also called 20 banks about their SBA program where I was told that I didn't have 2-3 year financials. What happend to the billions of dollars inserted into the banks?  I mean, I am an honest educated man who graduated from a great college and have amazing work experience. Why didn't anyone tell me that banks don't invest in companies with no industry experience or have no traction?

I have also called dozens of local broker houses and only 2 of them would look at my deal. This is strategy that we will continue to explore.

I don't want this blog to be reflection of all my denials, but a refection of what it will take to find funding in a time when most people wouldn't even try. A reflection of what it will take inorder to get a beverage company off the ground.

More importantly, its a learning tool for all of us who are entrepreneurs. I mean, how many books are out there about how to start a beverage business in a Recession? I haven't found any... Please let me know if you do..

Tony