November 19, 2024

How Dia Simms Is Shaking Up The Spirits Industry with Pronghorn

47 minutes

In this episode, Morgan DeBaun sits down with Dia Simms, a powerhouse in the spirits industry and co-founder of Pronghorn, a company aimed at diversifying the industry from the inside out. Together, they discuss the intricacies of the spirits industry and how diversity can be improved across industries.

In this episode:

00:00 Welcome to the Journey Podcast

00:25 Dia Simms' Early Career and Education

03:26 Transition to Radio Sales

04:50 Entrepreneurial Ventures in the Spirits Industry

07:09 The Rise of Celebrity-Owned Liquor Brands

09:32 Understanding Liquor Industry Deals

13:10 Challenges in Liquor Sponsorships

15:48 Introduction to Pronghorn

16:56 Pronghorn's Mission and Impact

22:39 The Blend of Private Equity and Venture Capital

23:32 Building a Bigger Table: The Importance of Diversity

24:27 Challenges in Supporting Black Entrepreneurs

25:54 The Pronghorn Analogy: Going Far and Fast Together

27:25 Convincing the Wealthy to Support Diversity

33:39 The Power of Collective Consumer Action

41:57 The Importance of Ownership and Investment

44:27 Conclusion and Call to Action

In the episode, Dia shares her path into the spirits world from a background with the Department of Defense and radio sales. Together, Morgan and Dia dive into the popularity of celebrity brand partnerships and the behind-the-scenes work of securing liquor sponsors for major events like Blavity's AfroTech.

Dia opens up about the mission behind Pronghorn: to create lasting change in the spirits industry by investing in Black-owned businesses. She explains how this model of diversification can be replicated across various industries. Dia and Morgan also discuss why appealing to the financial benefits of diversity can better resonate with industry leaders than relying on emotional arguments alone.

This episode is packed with valuable insights into business, diversity, and intentional investing from someone who has had a hand in shifting the billion-dollar spirits industry. Interested in working with Pronghorn? The organization is actively looking for businesses to invest in, so reach out to Dia Simms to connect!