This is Jim Koch. He was a BCG consultant who hated his W-2 job. He decided to quit and start a beer company. He is now a multi-billionaire. Here is the story about how he got started.

Price is the only marketing instrument you can employ with no upfront investment. This makes it an especially powerful marketing tool for small businesses with tight financial resources.

Howard Schultz grew Starbucks into a $90bn company. But there were several instances over the years when the company lost its way. One time, the company let too many little mistakes accumulate. “We forgot the 'ones' add up”

There are so many great lessons about entrepreneurship in this story, here are my favorite: + Ideas that, at first glance, may seem quirky, strange or unorthodox are sometimes the only ones that work. + Most of the value in an industry is created precisely by people who venture

Ten years later, Boston Beer Company IPOed at $32/share, split adjusted. From 1995 to 2023, revenue has grown at an average of 10% per year. Today, the stock is close to $280.

People loved the beer and sales grew like wildfire. As that was happening, Jim realized that he found an untapped niche. He started advertising, did some interviews, got his beer into national beer competitions (which they won), and set even loftier goals.

Jim couldn’t get distribution for his new beer. So he decided to swallow his pride and go direct. He read “How to Master the Art of Selling”, made a list of bars, packed some beer, and WALKED door to door with his beer. Slowly, owners agreed to stock it.

Jim raised friends and family capital and got to work. He made his first few hires and brewed his first commercial batches. He loved the beer. He knew others would too. The only problem was he needed to find customers.

So Jim decided to start a beer company. His idea boiled down to three basic phases: + Make great beer + Give it to people fresh + Find customers

Jim worked as a consultant but always had the entrepreneurial itch. He just didn’t know what type of business to start. He thought about a telecom company. But then he read an Inc. article about a new brewery on the west coast and thought maybe he could do the same in Boston.

This entrepreneurship trend appears to not be slowing down at all. 2023 saw the most new business formations ever and January 2024 is up 5x vs January 2019. Businesses that serve all of these new entrepreneurs are going to thrive over the next decade+.

Forecasting business performance is an art and a science. It can have dramatic consequences on businesses. Bad forecasts can ruin businesses, cause mass layoffs and millions of dollars of losses. Founders need to realize this and invest in a proper finance function.

How did it end? Salomon Brothers no longer exists and Sequoia is Sequoia. Source:

Don Valentine founded Sequoia in 1972, before the terms “Silicon Valley” and “venture capital” had been coined. When he was out raising his very first fund, he had a meeting with Salomon Brothers in NYC. It did not go well for a ridiculous reason.

Why is everyone dunking on the new iPad? It looks amazing. I love the iPad and use it regularly. I really want to get this new one.

Challenge accepted.

“Be the platform, not the tuck-in.” This is advice we’ve given to several founders as they think about selling their company. What does this mean?

Caught up with an NYC guy who has been playing the hedge fund game for a decade+. Has made some money but between taxes, cost of living and keeping up with others in his circle, he hasn’t saved much. The anxiety of bouncing around every 2-3 years has definitely taken its toll.

Are you ever going to sell your business or look to buy a business? These are 10 things you will be asked by anyone looking to invest in the business. The more prepared you are for these, the higher the price will be. 👇 +

10/ OnlyFans. He’s not wrong. I read they have 77% EBITDA margins at scale. Who knew? 🤷‍♂️ https://t.co/9CtpiB7DPV