Financial literacy is a super power. It means learning to understand the numbers of your business so that you know how your business is doing financially. 

Marketing literacy is a super power. It means learning how to identify your customer and communicate the value your brewery has to offer. 

When you combine marketing and finance together...well, you have something special on your hands.  

In today's podcast, I talk with Chris Overlay from Hoptimized Digital, a marketing firm for craft breweries. Chris and I talk numbers, finance, marketing, and how to combine these ingredients to help you supercharge your brewery results.

Key Topics

• Beer Pricing (related to margins, market positioning, and ultimately business success) 
• Sales forecasting / budgeting / projects (as it relates to the marketing budget) 
• Sales Growth KPIs (related to measuring ROI with marketing)

Resources

• Learn more about Hoptimized Digital
• Get the financial training newsletter for the beer industry

Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.

How much should you spend on brewery marketing?  What is the right amount, and how do you figure this out?  Julie Rhodes from Not Your Hobby Marketing Solutions joins the podcast with answers. 

Julie specializes in helping breweries optimize retail sales plans, execute digital marketing plans and improve distribution management. And she has lots of great information to share about proven and profitable brewery marketing strategies. 

Key Topics

• How to budget your marketing dollars (benchmarks and rules of thumb)
• Profitable brewery marketing tactics 
• The brewery marketing plan (starting points to build a good one)

Resources

• Learn more about Julie and Not Your Hobby Marketing Solutions
• Get the Case Equivalent Conversion Calculator
• Check out the brewery financial training newsletter

Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.

Today we talk about the research and development tax credit with Brent Williams from Small Batch Standard.

Brent breaks down what the R&D tax credit is, how the calculation works, and how to determine if your brewery business will qualify.

Many breweries don't realize they qualify for this tax credit, and could be leaving money on the table. Listen to the podcast to learn whether your business qualifies.

Key Topics

• How the R&D tax credit works
• How to know if your brewery qualifies
• What types of costs are included to calculate the R&D credit 
• How much of a credit may be available for your brewery
• Where to get help to claim your R&D tax credit

Resources

• Learn more about R&D Tax Credits and Small Batch Standard
• Get the financial newsletter for craft breweries

Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.

Today we dig into the legal side of contract brewing with attorney Derek Allen from Allen Stahl + Kilbourne.

Derek shares best practices on how to create the brewery service agreement (the document that will govern your contract brewing arrangement) and where to turn for help on navigating the state regulations around contract brewing.

Key Topics

• Contract brewing vs alternating proprietorships
• Reasons to contract brew (that you might not have thought about)
• What you need to get right in your brewing contract
• Pitfalls to avoid in brewery service agreements

Resources

• Learn more about Derek Allen and contract brewing services his firm provides  
• Watch Derek's presentation on contract brewing 
• Get the financial training newsletter for the craft beer industry

Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.

Brewers Association supply chain subcommittee chair Mitch Steele joins us to share tips and best practices on how brewers can navigate today's challenges.
 
In the podcast Mitch shares his outlook for the next 6-12 months, and strategies to navigate ongoing supply chain issues.

Key Topics

• Mitigation strategies for supply chain challenges
• Best practices for purchase contracts: cans, malt, COs, etc.
• How to build relationships with your key suppliers

Resources

• Learn more about Mitch Steele and New Realm Brewing Company
• Brewers Association supply chain resources
• Get the craft brewery financial training newsletter

Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.

In today's podcast we'll review best practices to improve cash flow in your brewery. 

You'll learn the cash flow reports to run, metrics to track, and how to focus your time and energy to create a solid cash management plan for your brewery business.

Key Topics

• The main drivers of brewery cash flow (and how to manage them)
• How to build cash flow metrics for each manager in your brewery
• Best practices for your brewery financing plan

Resources

• Get the financial training newsletter for craft breweries
• Learn more about the craft brewery financial training membership

Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.

Today we talk with Tim Near from Agrowgate, a group procurement organization, that helps breweries manage their supply chain and buy better.

Pound for pound, supply chain purchases represent the largest outlay of cash for a brewery.  In today's podcast, you'll learn tips and tactics from a supply chain expert to improve purchasing in your beer business.

Key Topics 

• The 5 Rights of Purchasing...and why they are important to your brewery
• How to implement a 9 Step Sourcing Model
• Sourcing strategy example using Porters' Five Forces
• Common purchasing pitfalls...and how to avoid them

Resources

• Learn more about Agrowgate
• Get the finance newsletter for brewery professionals

Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.

In this podcast we'll talk about best practices for recruiting and hiring for your brewery. Finding the right employees is harder than ever these days, but a few simple tips can make the task easier.

Key Topics

• Use a template for your job descriptions and job postings - get it in writing, and get it in the hands of the job candidate
• Be crystal clear about the priority or goal for the position - how do you define success?
• Set proper expectations for the position 
• People exist to make a difference: Use the job description, tell the job candidate how they will make a difference in the brewery

Resources

• Subscribe to the free finance newsletter for craft  breweries
• Check out the Brewery Job Descriptions Guide, it's included with your Craft Brewery Financial Training Subscription

Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.

If you sell beer through a wholesaler, you have inventory management challenges. In today's podcast we talk with Bud Dunn from GP Analytics and hear about a solution to these challenges called the Craft Portal.

The Craft Portal is a tool that allows you to easily track inventory and orders without losing time, money or your mind. Wholesalers and breweries can quickly track what was sent, what is inbound and what is needed in the future.

The rapid expansion of brands and SKUs in the beer wholesaler's portfolio has made inventory forecasting very complex. The Craft Portal helps simplify the forecasting process so that you can reduce out of stocks, over stocks, and increase sales of your beer brands.

Key Topics

• Inventory forecasting best practices
• How to identify (and quantify) lost sales due to out of stocks
• The high cost of over stock inventory 
• Understanding wholesaler incentives related to inventory levels

Resources

• Get the Craft Portal One Pager
• Subscribe to the Finance Newsletter for Craft Breweries

Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.

In today's podcast we dive into the wonderful world of beer distribution with Laura Lodge from Customized Craft Beer Programs. Laura has a tremendous amount of experience with beer distribution and in our conversation she shares her knowledge freely.

Key Topics

• Benefits of working with a wholesaler
• Pitfalls to avoid in the brewery-wholesaler relationship
• Distribution contracts: What you need to know
• Key elements to a good brewery-wholesaler partnership

Resources

• Laura's book: Distribution Insight for the Craft Brewer
• Listen to our first podcast: StartABrewery.com with Laura Lodge
• The Finance Newsletter for Craft Breweries

Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.