'Brewing Up A Business'
Back in 1995, Sam Calagione started the Dogfish Head Craft Brewery with little more than a dream and a love of beer. Just ten years later, it's the fastest growing small brewery in the country.
In his new book, "Brewing Up A Business," he shares the secrets of his success, as well as advice for aspiring entrepreneurs. Click here to read an excerpt.
"Relish risk," is the advice Calagione offers to those who want to start a business.
He tells The Early Show co-anchor Harry Smith, "Instead of being afraid of risk, take that first step that says I'm going to walk away from my job as your first exposure to the adrenalin rush that is risk. If you're going to be an entrepreneur, you can't fear that adrenalin rush. You have to welcome it into your life. Make calculated risks, but recognize your life is going to be more risky. That's exciting."
An English major, Calagione says brewing beer was a hobby that went out of control.
Asked how his idea to start a business went beyond the dream stage, he says, "It's really a moment in time when you just say: No matter what obstacles I come up against, I'm going to make this happen.
"Everybody has great ideas, from what I've seen in the business world. The people who are successful are those who have the great ideas but are equally successful at executing them. That's really the key in small business, to not get sidetracked and keep executing your ideas."
Even though he doesn't see his book as an instructional manual, he says he hopes it inspires others. His audience is not just those people who want to open their own businesses, but also those who simply want to find happiness in their jobs. He wants everyone to understand that money is just a means to an end - not the end all and be all.
Calagione notes he has no desire to be the next Coors or Budweiser. In fact, he sees them as a whole other, almost unrelated, breed.
"I kind of look at them as they're sort of in a commodity industry; we're in the entertainment industry," he explains, "We're at the very least, hoping to entertain people's taste buds. And for them, their goal is to make something as generic, inoffensive as possible. We're trying to make something that's very exciting to a very limited audience."
That attitude has been essential to his success, Calagione notes, "To be successful with a small company, you need to not try and emulate big companies, but look for the niches they wouldn't care to explore."