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As a small player, it’s sometimes difficult to know where you should spread your assets. I believe that you should invest majority of your money into two areas: digital infrastructure and physical infrastructure.
No matter what size you are, your digital infrastructure will be vital to your success. Every company is now powered by technology in some way and with rapid advancements and the use of data, such solid framework is necessary.
You’ll be able to make your business leaner if you invest at the start of your journey and automate as much as possible. If not, you will be left behind, and it will hinder your long-term growth and sustainability. I have experienced this first hand as my business experienced rapid growth, but our systems simply couldn’t keep up. This was a hard lesson to learn and made me realise how necessary it is to lead with digital infrastructure as it will become your competitive advantage. You will also get the most out of your marketing budget if you utilise data to inform strategic decisions.
Technology has also transformed the way we do business so investing in it will improve overall operations, your interactions with clients, managing your team and identifying consumer trends.
In any industry, if you see a shortage of physical infrastructure, you should invest. At Tribe, we recognised this and are in the process of building a production facility that will revolutionise the Australian craft beer industry. It did come at a price, but this is now our competitive advantage and will allow us to grow at a speed that we can keep up with.
Also, I believe that you should invest in this and offer others access to your equipment and processes. Although this might seem counter-intuitive as you’re allowing others to grow, you will find that it will help you gain scale quickly and continue growing at a rapid pace. It is also important that the physical infrastructure you build is easily adaptable and can innovate alongside advancements in technology.
Anton Szpitalak, Co-Founder and CEO, Tribe Breweries