deming alumni spotlight

From ��ֱ��'s Trails to Whiskey's New Frontier: Noah Purdom's Journey to Crafting Bravado Whiskey

Anonymous — Thu, 14 Mar 2024 06:00:00 +0000

From ��ֱ��'s Trails to Whiskey's New Frontier: Noah Purdom's Journey to Crafting Bravado Whiskey Anonymous (not verified) Thu, 03/14/2024 - 00:00

Emily Iliff

Raised in Loveland, ��ֱ��, with the mountains as his playground, Noah Purdom found his passion in mountain biking. This passion didn't just shape his hobbies; it guided his early foray into entrepreneurship. Working in bike shops during high school, he learned the trade and economics of biking, eventually starting his own venture selling bike parts. This enterprise helped him fund his first semester at the University of ��ֱ��, a dream inspired by an unforgettable childhood experience at a ��ֱ�� football game. In this pivotal moment, he knew ��ֱ�� was where he belonged, and continued his journey in ��ֱ�� at Leeds School of Business. His journey from mountain trails to university halls next led him to the founding of Bravado Whiskey.

The Birth of Bravado Whiskey

In a refreshing twist on tradition, Noah dares to reimagine whiskey for the modern drinker, drawing inspiration from a cherished family connection. The journey began with a love for whiskey passed down from a grandfather, igniting a passion for innovating in an industry ripe for change. He has always had a passion for whiskey, and during his ventures through the whiskey aisles, he noticed a pattern: most brands seemed to adhere to a set of unwritten rules dictating the appearance and taste of whiskey. Challenging this status quo, he saw an immense opportunity to introduce something truly unique to the market. This sparked a bold idea: why not create a whiskey that stands out, one that speaks directly to younger drinkers?

His idea wasn't just about aesthetics; it was about capturing the essence of a new generation. Surprisingly, Millennials and Generation Z make up more than half of whiskey consumers, signaling a shift in the market. The goal became clear: craft a whiskey that resonates with the values and tastes of these younger consumers, featuring a clean, minimalist design and a name that breaks from convention. It challenges the strong, harsh stereotypes of whiskey, offering a gentler, more enjoyable experience. Tastings confirm it: people are surprised by how smooth it is, without the expected burn.

Creating the perfect whiskey meant finding the right flavor—a smooth, slightly sweeter profile that would appeal to a broader, younger audience. This required partnering with a ��ֱ�� distillery that shared the vision and could bring this unique taste to life. The result? A whiskey that's not only easy on the palate but also embodies the spirit of ��ֱ��.

Starting with savings accumulated throughout college, he launched an initial batch of 1,200 bottles to test the waters. Encouraged by the strong early momentum, he has since initiated a pre-seed funding round to fuel further growth and develop a distinctive and exciting product for the next batch.

Innovation in Distillation

Creating a whiskey with a unique flavor profile is both an art and a science, a journey through tradition, innovation, and collaboration. At the heart of this process is the delicate balancing of ingredients, the choice of aging methods, and the expertise of industry veterans.

The journey begins in the distillery, where the raw ingredients are transformed into spirits. The choice of grains, corn, malted barley, rye, and wheat, plays a vital role in defining the whiskey's character. The proportion of these grains determines the foundational flavor of the whiskey, a decision made through experimentation and expertise.

In crafting his distinctive whiskey, Noah collaborated with the head of the judging panel of the International Whiskey Competition, Together, they explored and tested various grain percentages to find the perfect blend. The next crucial step is deciding the aging process. The length of time whiskey spends in barrels significantly influences its taste, color, and aroma. Opting for a four-year aging period, they chose to use slightly smaller barrels to enhance the whiskey's maturation. The smaller barrel size increases the spirit's contact with the wood, accelerating the aging process and imparting a complexity to the whiskey that mimics a spirit aged for six or seven years.

This meticulous approach to aging and grain selection has culminated in a whiskey that stands out for its smoothness and sweetness. The increased wood contact during the aging process not only speeds up maturation but also adds depth to the flavor, resulting in a whiskey that offers a sophisticated taste experience.

Bravado Whiskey is a non-distilling producer, meaning they contract out the distilling process to local ��ֱ��-based distilleries. This puts the brand in a unique position where they are not married to a single product and can taste different barrels and pick and choose the highest quality barrels, which is then blended and finished further. This allows for a top-tier product and a dynamic company structure where our working capital is maximized and not limited by the years of aging required for good whiskey.

“The process has so many variables that can affect the final product for better or worse, but that is the beauty of it.”

Looking Ahead: Fueling Growth and Embracing the Future

Embarking on the entrepreneurial journey of launching a whiskey brand, the founder finds themselves at a critical juncture: raising a pre-seed fund to fuel growth and expansion. Currently, their whiskey is stocked in 20 stores, with 10 more awaiting shipments. With the first batch of whiskey nearly sold out, the demand is clear, and the pre-seed funding aims to increase production and broaden distribution.

The funds raised will not only support the creation of the next few batches of whiskey but also allow for the hiring of sales representatives, a crucial step for a brand looking to establish a more significant presence in the market. Up until this point, the financial backing has largely come from friends, family, and a handful of angel investors. The goal is to close the funding round by the end of March, setting the stage for the next phase of growth.

Looking to the future, Noah envisions transforming his whiskey brand into a modernized craft spirit that resonates with today's generation. He aims to shake off the dust of tradition, showing that whiskey isn't just a relic from their grandfather's era but a vibrant and dynamic product that appeals to contemporary tastes. The aspiration is to embrace modern trends, from minimalist design to innovative flavor profiles, and create a whiskey that captures the essence of craftsmanship while appealing to a broad audience.

Traditional

White

Empowering the American Dream: Fangarde’s Battle Against Soaring Ticket Resale Prices

Anonymous — Thu, 31 Aug 2023 06:00:00 +0000

Empowering the American Dream: Fangarde’s Battle Against Soaring Ticket Resale Prices Anonymous (not verified) Thu, 08/31/2023 - 00:00

Lauren Gwyn

Taylor Swift is breaking records with her high ticket prices this year. Despite having 52+ tour locations at some of the biggest stadiums in the world, prices for a single ticket will cost concert-goers an average of $500 resale compared to the original $245 price. This price surge is not typical, so why is this happening? Ticket resellers have dominated ticketing websites and utilize the popularity of Taylor Swift, and other performers, to take advantage of fans on the resale market. According to Smart Pricer, ticket resellers charge excited concert-goers an average of 158% of the original ticket sale price.

Fangarde's Innovative Approach: Reclaiming Control of the Secondary Ticket Market

To address the continuous increase in ticket resale prices, David Banda and John Hau started Fangarde, a new ticketing software focused on providing control of the secondary ticket market, where re-sellers sell their ticket. The start-up emerged from the Leeds School of Business at the University of ��ֱ�� Boulder’s New Venture Launch Class run by Faculty Director Brad Werner. The class aims to push start-ups to the next level and grow their company. New Venture Launch teaches students to pitch their company, scale it and get funding. Founder David Banda says that his experience with the class was extremely useful in taking Fanguard to the next level. With Fangarde, venues can set a cap for how much a ticket can be re-sold for. This is a win-win for both concertgoers and venues because it not only drives the re-sale price down of a ticket but also allows venues to use data-driven software to maximize control and regulate the ticketing marketplace.

Empowering First-Generation Dreams: David Banda's Inspirational Journey

David was born in ��ֱ�� to Mexican immigrants and is no stranger to what it takes to work hard for the goals he wants to accomplish. He takes inspiration from his dad, who grew up in a small village where he was selling gum on the streets and shining shoes to make money at six years old. He had dreams of doing something big in life and moving to the United States. When he was 18 he moved out of Mexico to America where he eventually met David’s mom. Together they had 6 children and sacrificed everything they had to give their kids the best education possible. Now, David and all of his siblings have successfully graduated from ��ֱ�� Boulder as first-generation students, and draw inspiration from the hardships that their family ensued. David gives his all to anything he sets his mind to, and Fangarde is no exception.

Three Pillars of Success: David Banda's Ideologies for Achieving the American Dream

David shares that because of his dad’s struggles, he has three messages that push him towards his version of the “American Dream” and success in his life. They include:

“First is the knowledge of what's possible. So that's being surrounded by the right people, and having those people who show you what's possible.

Second, strong belief in yourself. You need to have people building you up and telling you what's possible. You, yourself can accomplish those things.

The third is just you just have to grind incessantly forever.”

David relates these three ideologies to entrepreneurship and says that mentors can help you towards this belief. One of his mentors, David Brown, is one of the main people pushing him to see what’s possible for him in terms of entrepreneurship as well as his co-founder. FanGarde wouldn’t be possible if he didn’t have these ideologies.

Joining the Journey: Getting Involved with FanGarde's Entrepreneurial Pursuit

Currently, Fangarde is connecting with venues and working to become part of their future ticketing. They are always on the lookout for people who want to be a part of their journey. To keep up to date with what they are doing weekly, you can sign up for their newsletter where they share more information and insight on what it’s like being an entrepreneur.

No one should have to pay 158% of the ticket price to see their favorite artist. David says that

“Being a fan is ultimately connecting to art. Right? It's about something beautiful that you enjoy. It is the connection to their art, that beauty that an artist created.”

Connecting with this art is extremely important, and Fangarde is the solution to fix the current broken system of ticketing. With perseverance, the knowledge of what’s possible, and a strong belief in himself and those around him, David hopes to make major changes to this industry.