From Bankruptcy to Beverage Empire: Stefan Di Benedetto on Building SOLBEVI into a Global Brand, Bouncing Back in His 30s, and the Grit, Growth & Bold Moves Behind His Remarkable Comeback and International Expansion. (Episode 653 - Stefan Di Benedetto)

In this episode of Grow a Small Business, host Troy Trewin interviews Stefan Di Benedetto from SolBevi. Stefan discussed the phenomenal growth of his limoncello brand, including more than doubling sales and expanding into New Zealand. He shared insights into the challenges of starting solo and the importance of team building. The conversation also touched upon key marketing strategies like "liquid on lips" and the complexities of funding rapid growth in the FMCG industry. Stefan offered valuable lessons learned during his entrepreneurial journey. Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Troy delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions:

1. What do you think is the hardest thing in growing a small business? Stefan Di Benedetto believes the hardest thing in growing a small business is having to do everything yourself, especially at the start. Stefan recounted his experience of managing cross-functional tasks such as marketing, finance, and sales simultaneously. He described physically going from venue to venue during the day and then working until midnight on administrative tasks like paying invoices and cash flow forecasting

2. What's your favorite business book that has helped you the most? Stefan Di Benedetto stated that his favorite business book that has helped him the most is "Shoe Dog" by Phil Knight. He mentioned that the book reminds him of similar situations he has gone through in his business, such as taking risks and experiencing financial difficulties, and it provides him with a lot of motivation.

3. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Stefan Di Benedetto mentioned that he doesn't really use any online tools for his professional development. Instead, he listens to a lot of business-related podcasts. He specifically enjoys podcasts where he can learn from people who have exited businesses and built successful companies. He also listens to podcasts that discuss marketing and marketing strategies, including what's current and how to be strategic.

4. What tool or resource would you recommend to grow a small business? Stefan Di Benedetto recommends using Xero as a key tool to grow a small business. He emphasizes its value in helping business owners understand their numbers, which he believes is crucial for making informed decisions and sustaining growth. He also highlights the importance of working with a good bookkeeper or accountant who can help interpret those numbers, rather than just recording them. This combination, according to Stefan, provides clarity and supports smarter business decisions.

5. What advice would you give yourself on day one of starting out in business? On day one, Stefan Di Benedetto would tell himself, "It's going to be hard." He admits he was likely naive about the challenges of his new industry, especially compared to his previous experience in consultancy and construction, where he felt more confident. The unexpected difficulties taught him that persistence and resilience are essential. His core advice to himself would be: "It's going to be hard, but just don't back down."

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Quotable quotes from our special Grow A Small Business podcast guest:

Back yourself, because no one else will believe in your vision like you do – Stefan Di Benedetto The wins feel amazing, but the lessons come from the hard days – Stefan Di Benedetto

Understanding your numbers isn't optional—it's essential for growth – Stefan Di Benedetto