Ryan Laverty
Ryan is Co-Founder and CEO of VIDE, a ready-to-drink alcoholic beverage company. Backed by Darco Capital, Ryan and his business partner successfully ventured capital financing and have since scaled their business regionally, quickly making ground in the alcohol beverage market.
His morning routine
I wake up pretty early in the morning even if I don't have to. I’ve made it a habit to thank God for being able to see another day the moment I wake up.
Then, I leave my phone at home and go for a 30 to 50 minute walk. I honestly can say that it's been life changing for me because it creates space for me to recalibrate my mind, get up to speed, think about what I have to do, and mentally prepare for what the day ahead.
On his keystone habit
Quarantine has been interesting for me because it helped with discovering and growing into healthy habits that feel good for my body, whether it be mental or physical. I've become an avid stretcher. After my walk, I come home and stretch for about 10 to 15 minutes. I never really understood the importance of stretching and how it makes your body feel until I made it a habit.
Setting boundaries with his phone
I think it's become a natural instinct for most people to check their phone the second they wake up, whether it be a text message, social media notification, or news article. I’ve chosen not to start my day in this style because it floods your mind with a lot of noise, whether it's good or bad.
From corporate to entrepreneurship
Before starting VIDE, I was working in finance and I really enjoyed it. I left my investment management role to start Vide in November of 2018.
It's a scary jump going from having a comfortable salary and a very structured schedule to a life as an entrepreneur. I woke up the day after I quit and thought to myself, “Oh my gosh. I could do whatever I want now!” With that being said, there is a certain level of maturity necessary to successfully leave the corporate path and start your own business.
You have to have the personality to make sure that you are making the best decisions regarding your day to day and overseeing yourself to assure you’re getting things done. The mindset my business partner and I had after quitting our corporate jobs was: “Alright, let’s get to work, we have a business to build.”
So many people doubted our move, especially considering the lack of knowledge and experience we had in the beverage space. That’s really a major part of what keeps me going. I know this experience is going to be worth it, no matter what level of success we achieve with VIDE.
On his initial go-to-market strategy
In the beginning, we didn't have the money to pay for a PR company or to invest heavily in marketing, so we relied on our personal network and cold sales to build brand awareness. Getting as many eyes on the product as possible was our initial go-to-market strategy. This meant walking around NYC, about 20 miles a day, to every single liquor establishment and pitching our beverage. Sal and I could have been more strategic if we have split up to cover more ground in less time, but it is what it is. Aside from that, we brought Vide into our social settings and asked people what they thought about the drink. Word spreads pretty quickly amongst your friends and peers, I think initially to test your minimum viable product this is a great go-to.
On growing pains
Stress—not only from fundraising but also having to learn on your feet as you scale your business. Growing a business requires more time, capital, and focus on areas you wouldn't necessarily think would be so time consuming. As a founder, you're wearing multiple hats. I wasn’t a supply chain guy, but I have to now manage a regional supply chain.
Things have really picked up for us from an expansion standpoint. Vide has grown to be a regional brand, as opposed to our initial thought of it being solely a NYC brand, which is really cool to think about.
Product market fit and the speed at which the segment is growing are areas we try to keep a pulse on. It's fun and exciting to see how far we’ve grown since March of 2019, when we were producing in a small manufacturer in Missouri, to the size of the facility we have now in Maryland.
Luckily, we're in a very good position—we've worked out all those kinks. I feel primed to expand over the next couple months and years here.
Using data to influence strategy
When we’re talking about entering a new market, we first start with taking a look at the data. Which states are selling the types of beverages that we're selling? What segments are growing faster? What are the price points? Where does demand and marketing meet?
On the future of VIDE
I’m really excited to diversify our product line, we have a bunch of new products coming out in 1Q21. Aside from a product standpoint, leadership is an important pillar of Vide and it’s an element we continue to work on as our business scales. Sal and I have been trying to find ways to give back to emerging entrepreneurs from our story and experience, by acting as advisors or any kind of resource for people who are looking to start their own business.
I absolutely love when people are curious about our journey and how we started Vide and I hope that our story inspires others to do what they’ve always wanted to do.
Embracing competition
The first day that we launched our product, one of our biggest competitors in the market launched a beverage that was basically the exact same thing as ours. We had gone to three stores and were told “Oh, someone just brought in this other product right there.” I was like, “you gotta be freaking kidding.”
Don’t let competition scare you because you can curate a point of differentiation. Whether it be through who you are as a founder, your product or its story. Understand that there's always going to be another product like yours and if you want to be an entrepreneur badly enough, you figure out a way to make your story different and product better.
Keep putting in the hard work and you'll see the fruits of the business expand.
On his unwinding rituals
Ending my day by writing in a journal helps me decompress and has been an invaluable contribution to my personal growth. I’ll write about the things I did throughout the day, areas that I think I did well in and things that I could have done better.
Ryan’s words of encouragement
Find someone that you can really relate to, another entrepreneur, a friend or an acquaintance and pick their brain.
Clearly understand your value proposition and story differentiator.
Don't be afraid of competition.
