Prime Single Barrels of Whiskey

Interested in starting your own entrepreneurial journey in food and beverage but unsure what to expect? Then read up on our interview with Michael Nagdi, Co-Founder of The Prime Barrel, located in New York, NY, USA.

What's your business, and who are your customers?

We select and help others find prime single barrels of whiskey. Our customers are whiskey enthusiasts, especially if they prefer single-barrel expressions.

Tell us about yourself

After spending 20+ years working for two Fortune 100 companies in a myriad of roles - sales, marketing, GTM, strategy, business intelligence/big data - and getting to a Senior Director level with my last employer, I decided that "working for a man" was no longer something that brought joy. I left my cushy corporate gig in August 2020 (the middle of the pandemic). I decided to pursue my passion and go all-in on a boutique wine and whiskey shop I co-founded in 2014.

I fell in love with whiskey after an uncle introduced me to a bottle of Dalmore 15-Year-Old Scotch at his 50th birthday celebration in 2007. The reason was not even about the whiskey itself, which was great. It was about spending quality, unrushed time in the company of a very close family. That Dalmore bottle was a perfect conduit for building life-changing relationships on that snowy day.

The experience put me on the path to eventually being in the position to help others to do the same. The Prime Barrel club is a logical extension of that mission. With this project, we are strengthening an already established community of people passionate about whiskey for the same reasons I fell in love with it. Good whiskey does not mean anything in a vacuum or by itself. It is merely a tool to facilitate life-long memories with people you love. I am passionate about bringing you the best to help you do that.

What's your biggest accomplishment as a business owner?

Cultivating an engaging national community of whiskey drinkers that form life-long relationships through the shared love of whiskey

What's one of the hardest things that comes with being a business owner?

The buck stops with me. Whether it's managing inventory, finances, or people, you are responsible for everything, and a corporate gig has no safety net. However, the ceiling is much higher when you work for yourself.

What are the top tips you'd give to anyone looking to start, run and grow a business today?

Have a solid, realistic business plan. Understand what attracts customers and grow that niche.
Hire and retain people that are smarter than you.
Find additional revenue streams within an existing business. Own a coffee shop? Look into offering complimentary products, like chocolate, for example.

Where can people find you and your business?

Website: https://membership.primebarrel.com/
Facebook: https://www.facebook.com/theprimebarrel
Instagram: https://www.instagram.com/theprimebarrel/
Twitter: https://twitter.com/theprimebarrel
LinkedIn: https://www.linkedin.com/company/the-prime-barrel/

If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.

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