In this episode, Jeff surfs the foam-topped waves with PK Agarwal the founder of The 5th Ingredient, maker of Beer30, a SaaS designed to help breweries manage their manufacturing process from grain to glass using data science. PK shared his journey as a SaaS founder and the biggest lessons he has learned along the way. He discusses learning to distinguish between signal and noise when it comes to prospects' excitement about his SaaS and learning to trust his team members in order for the company to grow. Beer 30 has revolutionized the craft beer industry by providing full traceability, future demand planning forecasting, and full supply chain management.
00:03:50 From Harvard To Brewing: The Story Of PK And The Fifth Ingredient
00:06:12 Revolutionizing The Craft Beer Industry
00:07:33 The Science Behind Brewing And Manufacturing
00:10:20 Expanding Into Related Markets
00:17:21 The Brewing Industry Supply Chain Loop: From Grain To Glass
0018:02 Competitors are collaborating to change the industry
00:19:39 Respect for Big Beer Brands: Engineering And Product Quality
0021:08 Learning to synthesize information for stronger decision making
00:24:42 Track the Cost of Living with Beer
00:28:23 Keys To Success For Entrepreneurs
00:34:04 Developing Leadership Qualities Through Mentorship
00:36:48 Learning To Step Back And Trust: A Journey Of Curiosity, Humility, And Empathy
00:39:07 Favorite Beer: A Seasonal Affair
00:42:50 Exploring The Full Spectrum Of Beer Flavors
[26:19] “Don't let perfection be the enemy of innovation.”
[32:33] “Time and time again, all the time, mentors and mentors are one of the key aspects that have been influential time and time in our success. I consider all those people helping as just key mentors in the Fifth Ingredients journey.”
[39:06] “If you try a brewer you don't like, there are literally thousands of others right there for you to try.”
SaaS Leadership Lessons
1. Entrepreneurship lesson: Deals are not finalized until the money hits the bank account.
2. Synthesizing customer feedback and understanding what you want to do is key to success.
3. Empathy and vulnerability play a role in leadership by understanding how each person is motivated differently.
4. There is a full spectrum of beer flavors, from light to dark, hoppy to flavorful.
5. Quality control and engineering are important.
6. Great beer requires: Water, yeast, sugar, grain, and DATA! (The 5th Ingredient)
The 5th Ingredient – https://www.the5thingredient.com/
Ballast Point Brewing – https://ballastpoint.com/
Beer30 Legends – https://m.facebook.com/groups/beer30legends/
QuickBooks – https://quickbooks.intuit.com/
Xero – https://www.xero.com/
Stone Brewing – https://www.stonebrewing.com/
The 5th Ingredient’s LinkedIn – https://www.linkedin.com/company/the-5th-ingredient/
The 5th Ingredient’s Facebook – https://www.facebook.com/the5thingredient/
The 5th Ingredient’s Instagram – https://www.instagram.com/the5thingredient/?hl=en
Today’s episode is sponsored by Champion Leadership Group. Get free growth tools, and map out a game plan to scale your SaaS business to $10M, $20, $50M, and beyond. Travel with fellow SaaS entrepreneurs on your growth journey using a proven methodology that is mentor-guided, results-focused, and peer-supported. Celebrate wins and quickly rebound from setbacks to achieve profitable growth, premium valuation, and freedom. Learn more and unleash your SaaS growth at championleadership.com
Small Fish, Big Pond – https://smallfishbigpond.com/ Use the promo code ‘SaaSFuel’
Champion Leadership Group – https://championleadership.com/