Interview Questions with Joe James 2/26/18
Narrative (Kristin): Hello my name is Kristin Ellison and this is my Subject Matter Expert Interview for ENT 601.
I am here with Joe James of Joe’s Coldbrew. A (hand brewed) cold brew coffee company in the sunny skies and busy streets of Los Angeles, CA. Thank you for interviewing today Joe!
Brief Biography:
From: Ahoskie, North Carolina
College: Elizabeth City State University
Degree: Bachelor of Science in Business Administration & Management
Primary Work Experience: Banking and Finance (State Employees Credit Union), Mortgage Loan Officer (Premier Mortgage Funding), Real Estate Investing (Self), Insurance (State Farm), North Carolina Department of Revenue (Corporate Tax)
Narrative (Kristin): We are going to jump right into it, I know you have some great nuggets to drop and I am excited to gain more knowledge from your experience.
Questions:
1. What was your first business as an entrepreneur? And what were your first thoughts as you started this journey?
(Joe): My first business, besides all of the childhood businesses I had, was a car detailing business I started in college. Since I had grown up washing cars, I knew what to do and I thought it would be a good way to make some money on the side as a student. So, I went downtown Elizabeth City and got a business license. My first contract was with the campus police. I made a deal with them to wash their fleet of cars each week and since it was quite a bit too much for me to handle on my own, I was able to hire some of my friends to help. My thoughts were always along the lines of, either I can work minimum wage for $5 or $6 an hour (which I believe it was something like that around that time) or I can do something with my own ideas and make double or triple that in an hour.
2. How many business ventures have you led? Are there any that you would revamp?
(Joe): As a serial entrepreneur, I have started more businesses than I can count. If I were to do a business over, it would be the real estate investing business. I was involved in the mortgage and real estate industries during 2004-2008 before the big crash. I loved it! It was a lot of hard work but so much fun.
3. In your experience, what do you value as success? (i.e failures and pitfalls, networking with others, small progress).
(Joe): My personal philosophy of success in business is one, to be a part of a business that adds value and meets a need. Secondly, when that business enables you to live the life you envision, I consider that success. There are definitely many pitfalls and failures that come with entrepreneurship. Most of what I know about business has been learned from the ‘School of Hard knocks’. Having a business mentor can save you a lot of hardship. Networking with others is crucial in business. You’ve heard the saying “It’s not what you know but who you know”. I found both to be true but in Los Angeles it’s all about whom you know.
4. Where/How did Joe’s Coldbrew come about? (Give us the innovative idea that led you to this product/idea/market)?
(Joe): So, I’ve been a coffee lover for a very long time and back in 2013, I was looking to ‘up my game’ with the coffee brewing skills. I started spending more time learning about the different brewing methods and somehow, I came across cold brewed coffee. I thought it was very interesting because up to that point, I had only heard of hot brewed coffee. So, I found a recipe and started to experiment. To my surprise, I totally fell in love with it. It was chocolaty, smooth and flavorful with no bitterness at all. So, I just kept playing with it and fine-tuning it until I arrived at my own recipe. I started making it and sharing it with my musician friends in Los Angeles. We would sit around, just talking, listening to music and drinking cold brew. Eventually, the idea came up about me selling it instead of just giving it away and since I had already been considering ways to introduce the product to market, I thought it was a great idea to pursue. The cold brew market was really booming at the time and has continued to grow. It is projected to continue to grow as one of the hottest and fastest growing beverage segments in the market. So, from there, I got licensed, go insured, found a facility to produce the product in and just went from there. Of course, this is the short version of that because it definitely took quite a while to reach the place where the product and packaging was ready.
5. Joe, I have also heard that you are leaning more towards the organic and wellness market for your next venture. Tell us a little more about that.
(Joe): I am particularly interested in the wellness industry and nutrition because there are so many people who suffer from preventable illnesses. There are an overwhelming amount of health studies that show disease being treated and/or reversed by dietary changes.
6. How have you maintained your humility? How do you stay self-motivated?
(Joe): The school of hardknocks teaches humility (haha). Another old quote but very true is, “Your attitude determines your altitude”. I know it sounds very cliche to say but I’ve found a lot of truth in it. I stay motivated by thinking of my “why” or my reasons for doing what I do.
7. Give one story, example, quote that really keeps you going and you would use as a tool of advice to others?
(Joe): Having a team of people who believe in your abilities and who also inspire you is so important an entrepreneur primarily because you will have times when you want to give up. I am thankful to be surrounded by people who have been very successful in their own fields of endeavor and they encourage me to stay the course. My advice to other entrepreneurs who may be starting out is, don’t make things harder on yourself by trying to go cold turkey into business unless you have capital and a team behind you. There always seems to be this notion amongst entrepreneurs that their ideas are so amazing that they can start with nothing and blow up overnight. This is a major pitfall to avoid. Keep your day job and work on business on the side until it grows and allows you to let go of your job.
Narrative (Kristin): Jerome thank you so much for your time and consideration! You are very inspirational and I look forward for more prosperity in your business ventures.
You can contact Joe via email at: joe@joescoldbrew.com
Remember to follow Joe on Instagram: @joescoldbrew
