Crafting Better Businesses
When I originally watched this video a few months ago I had not heard of Freetail Brewing or of Scott Metzger. I was immediately drawn in when he presented the idea that the way our market works is failing communities by creating an economic incentive to buy big brand items instead of local options. He ties this argument back to the beer industry and how it had collapsed into a very small consolidated brand and style market. But consumers like variety, choice is important.
Scott continues to state that in the 1980’s the craft beer industry got started and instead of following the same consolidated model that caused the collapse of the beer industry post prohibition, the focus was instead on creating “economies of authenticity”. The reasoning goes that if you offer variety and quality products people will go against what the market says should happen and instead go for those authentic products. So by encouraging entrepreneurs to pursue their passions and to stay true to their authenticity we will purchase those local authentic products and help to create community.
For me Scott hits all the key elements, first by being authentic and true to your passion you will remain excited and working hard for your business. Second, by focusing on the quality of your product and instead of just the bottom line we create better products and businesses. Finally by following the first two elements you will create the foundation of your business that other businesses will look to emulate and by doing so everyone will help to create a better community. It’s this final piece that resonates the most with me personally because I believe a good business, especially a brewery, should always be thinking about how they are a part of and how they help lift up their community.
Thanks Scott for a great TEDx talk and I hope sometime to be able to come down to San Antonio to check out how you are crafting a better beer, business and community.