How To Start A Business (or Launch A New Product) Without Breaking The Bank By Using Social Media

AT&T, Twitter and Domino’s all have something in common with Josh Wade.

But before we get in to that, let’s talk about their differences first.

• AT&T has horrible customer service (you can check Consumer Reports, but I also have my own ‘inside sources’).
• Twitter still doesn’t really have a solid business plan; i.e. it doesn’t know what it wants to be when it grows up.
• Domino’s Pizza was started with just $500 (business success does not necessarily require a lot of start-up capital).
• Josh Wade – well, who is he? Just a few months ago, he didn’t really have any business at all.

Now let’s look at what’s behind that one common thing that their respective competitors are jealous about:

• AT&T has an exclusive lock on the Apple iPhone (but not for long anymore).
• Twitter defined micro-blogging or instantaneous mass communication.
• Domino’s continues to “deliver fresh hot pizza in 30 min or less – or it’s free”.
• Josh was smart enough to capitalize on social media.

So what is that these 4 parties have in common?

They all have raving fans – eager to hand out their wallets, inspite of their respective shortcomings.

Where is Josh Wade in all of this?

Maybe you don’t know him; but he went from zero to celebrity in the local Spokane wine circle in less than 1 year – without a ton of money.

You see, Josh had a brilliant approach to business: why not develop your customer base BEFORE opening up the business?

In this recorded phone interview, I asked Josh to spill the beans.

Josh Wade interview – 30 min

Executive Summary

• When Josh was layed off a few years ago, he dreamed about opening a wine and coffee bar, but temporarily shelved the idea when he was rehired.
• Then on a plane trip to Las Vegas in Nov 2009, Josh picked up a book Crush It! by Gary Vaynerchuck, which turned out be THE inspiration for him.
• He learned about the concept of personal branding, and the principles behind social media:
  • Content is King (the more the better)
  • Relationships are Queen (develop trust: stay away from selling)
• He brilliantly concluded: “When I open a business someday, if a hundred people know who I am, I’ll be better off, than if I open a business when nobody knew who I was.”
• Josh loves writing, so engaging in the social media communities is a creative outlet for him, especially since he’s passionate about the subject.
• He taught himself mainly by observing and watching other successful people who are actively engaged in social media.
• Twitter is an easier avenue to grow a global audience, but he used Facebook to target local people.
• The true ROI of social media: use it to engage with your customers. This increases the chances of success.

Business Update

• Spokane Wine Magazine is going into print as this blog post is published.
• The Nectar Tasting Room will be opening its doors in a few weeks.
• For the latest information, check out www.NectarWineBlog.com

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