- Kindly give our readers an introduction to your business.
- Founded by childhood friends in 2015, Tattersall Distilling’s portfolio has grown to more than 30 all-natural spirits and liqueurs available across most of the U.S. With a destination distillery, cocktail room, restaurant and event center in River Falls, Wisconsin, products are always made from the best ingredients available, locally sourced whenever possible. As a result, Tattersall has gained national recognition with top honors at the San Francisco World Spirits Competition, American Craft Spirits Association Awards, American Distilling Institute Awards and more. Tattersall was named on the Inc. 5000 list of fastest-growing private companies in America for four years. For more information visit www.tattersalldistilling.com or follow them on Instagram and Facebook @tattersalldistilling.
- Kindly give us a brief description about yourself
- I received my undergraduate degree from the University of Michigan and an MBA from the University of Chicago. Before I co-founded Tattersall, I worked in finance with distressed companies in Chicago, worked on mergers and acquisitions with an investment bank in Minneapolis, and then worked as a portfolio manager at a hedge fund in the Twin Cities. The idea of starting a company in the spirits industry sprung from legislative changes that were taking place in the industry and in Minnesota that opened new opportunities. After visiting multiple distilleries on the West Coast, attending distilling school, a lot of research, and putting a business plan together, the heavy lifting started in 2014 — and we opened Tattersall to the public in 2015.
- What inspired you to start a new business venture? How did the idea for your business come about?
- I always worked with manufacturing companies and hoped to run one of my own someday. In 2012, laws in Minnesota changed, allowing for the possibility to operate a micro distillery in Minnesota. The micro-brewing industry was already taking off. We saw the opportunity for the distilling industry to be the next wave. A big advantage that we had at the time was that home distilling was illegal — and the craft distilling market was still in its infancy. So, we were on the leading edge of the industry and probably had a lot more leeway to learn as we went along. We also learned from micro distilleries in other states that had legalized micro distilling earlier than Minnesota and developed strong markets.
- What three pieces of advice would you give to budding entrepreneurs?
- Do your homework. Talk to as many people throughout the industry as you can, including vendors, suppliers, potential customers, etc. That will help you get a better picture of what you’re getting yourself into and how you can stand out in the market. Believe in yourself. Believe in your idea. And, most importantly, persevere.
- What would you say are the top three skills needed to be a successful entrepreneur?
- Problem solving, Perseverance and Optimism
- How many hours do you work a day on average?
- You never really stop working.
- To what do you most attribute your success?
- Hard work and surrounding myself with great people.
- How do you go about marketing your business? What has been your most successful form of marketing?
- We’ve tried just about everything. It seems like testimonials and having loyal advocates of our product is the best marketing of all.
- Where did your organizations funding/capital come from and how did you go about getting it? How did you obtain investors for your venture?
- We started with strictly friends and family. My background has allowed us to keep all fundraising in-house. As we’ve grown and needed to raise larger sums, we’ve extended the investor base outside our immediate circles but continue to keep it to a select group. We’ve rejected corporate investments and private funding groups to date but have leveraged existing investors and partners throughout the process.
- What is the best way to achieve long-term success?
- Hire good people. Be ready to shift and deal with the unexpected.
- Where do you see yourself and your business in 5 – 10 years?
- Distributing nationally on a larger scale.
- Excluding yours, what company or business do you admire the most?
- Patagonia. Their focus on sustainability and thinking long-term while producing exceptional products is inspiring to say the least.
- How important have good employees been to your success?
- They’ve been the top driver of our success. Without good employees, you can’t scale or grow. Everyone has different skills — you need to embrace those skills and make the most of your team.
- How long do you stick with an idea before giving up?
- It depends on how much I believe in it. If I really believe in the idea, I’ll push it as far as I can until it fails or succeeds. At Tattersall, we try to do as much research and stress test every idea as much as possible before running with it, but you still need someone to be the idea’s champion and have a certain amount of conviction to push it forward. If I’m not super confident in an idea and others question it, we’ll likely put it to the side to let it simmer and consider or simply move on from it.
- What motivates you?
- I want Tattersall to be successful. I want our employees to be proud that they work for Tattersall and see it as a fun place to work that can challenge them and provide opportunities at the same time. I want to see our Tattersall grow as a respected brand that makes outstanding products and delivers unforgettable experiences. All while caring for the environment and thinking about the future.
- What are your ideals?
- “Spirits of Uncompromised Character” has been our tagline since day one. We don’t compromise on the quality of our products or our actions as a company. We try to lead the industry with our sustainability and the way we go about our business.
- How do you generate new ideas?
- I usually get new ideas when I’m alone and can be free to think. Plane rides, long runs, fishing, and church are typical places that give me the space to clear my mind and come up with new ideas.
- How do you build a successful customer base?
- Creating great products and getting people to try them. Then thinking about their needs and wants and finding new ways to connect with them.
- What is your favorite aspect of being an entrepreneur?
- Knowing that I’m in charge of my own destiny
- What has been your most satisfying moment in business?
- Through the proceeds of hand sanitizer sales, we were able to donate more than one million meals to a local food shelf during the early stages of the pandemic. We brought together a coalition of businesses and organizations to make it happen and it really felt like we were doing everything we could to help the community during a difficult time.
- What do you feel is the major difference between entrepreneurs and those who work for someone else?
- Entrepreneurs are typically the people who are more willing to handle risk and take the leap.
- What kind of culture exists in your organization? How did you establish this tone and why did you institute this particular type of culture?
- We give people a lot of freedom to do their jobs. If you’re able to earn your managers’ trust, you’ll get more responsibility, more opportunities to operate on your own and make decisions. We have a very open, flat organizational structure. We built Tattersall this way mostly because we simply couldn’t afford excess layers and roles. Everyone wears a lot of hats — and we think it adds to our strength that people understand other areas of the business well and how each area interacts with others.
- In one word, characterize your life as an entrepreneur.
- Problem-solver
- How has being an entrepreneur affected your family life?
- I came from a profession that demanded long hours and never being able to turn work off, so the hours and focus weren’t a big shift, but my family is much more involved in work now than they ever were before. It’s been really cool having a more visible business now though, something that my kids and wife take a lot of pride in too. Being your own boss definitely has its advantages when it comes to schedule flexibility with the kids.
- What is your greatest fear, and how do you manage fear?
- The business failing. I manage my fear by focusing on the things we can control and talking to others that can help me move through my fear and understand that it’s never as bad as you think — and never as good, either!
- How did you decide on the location for your business?
- The original location was in Northeast Minneapolis because we’d lived there for the past 10 years. We knew the neighborhood well and knew it was the right spot for what we were building. We decided to build out our second location in River Falls through an RFP we opened to communities across the Midwest to decide on our long-term home.
- Do you believe there is some sort of pattern or formula to becoming a successful entrepreneur?
- I don’t know. I think you’d have to ask someone who has done it more than once or who has experienced success.
- If you could talk to one person from history, who would it be and why?
- My grandfather never got see Tattersall. He was an entrepreneur and one of the driving forces that helped me get comfortable with making the jump. I would have liked for him to have seen what we have built.
- Who has been your greatest inspiration?
- My grandfather.
- What book has inspired you the most?
- From a business standpoint, Shoe Dog, the Phil Knight and Nike story is nothing short of extraordinary. It’s inspiring to learn about what Knight was able to overcome to build one of the world’s most recognizable brands. Plus, it’s a great read.
- What are some of the biggest mistakes you’ve made?
- I’ve made too many to count. Luckily, none have been fatal. As long as you’re still playing the game, you have a chance. Business isn’t a finite game, you’re going to make mistakes, a lot of them. You must learn from them, figure out how to fix them, and move on. I try not to dwell on the past.
- What are your hobbies? What do you do in your non-work time?
- I like to spend time with my family, garden, cook/BBQ, fish, woodwork and build stuff in general.
- What makes you happy?
- I like being with my family and friends, being outdoors, and staying busy.
- What sacrifices have you had to make to be a successful entrepreneur?
- Hobbies. The sanity and consistency of regular paychecks and bonuses.
- If you were conducting this interview, what question would you ask?
- Knowing what you know now, would you do it all again?
For more information visit us at https://www.tattersalldistilling.com/river-falls/.