In the realm of entrepreneurship, there are those whose ventures transcend industries, achieving remarkable success and recognition. Victor Young, renowned as a Megapreneur, has established an extraordinary track record in automotive, film, technology, healthcare, and now distillery ownership.
In this exclusive interview, we delve into Young’s journey and gain invaluable insights into his mindset and strategies that have propelled him to the forefront of multiple domains.
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You’ve been called a Megaprenuer by many CEOs around the country due to your success in automotive, film, technology, healthcare and now distillery ownership. What is a megapreneur and how do you become one?
Victor Young: I would describe a Megaprenuer as someone who possesses the unique ability to leverage their talents across multiple industries. I’m able to see opportunities in businesses like a medium sees ghosts. It’s just a gift that I have.
It’s also crucial not to be swayed by fancy titles, influential individuals, or new trends Just keep your head in the game and approach every moment with an execution strategy in mind. Additionally, I don’t waste any time trying to impress others. I prefer to showcase my intelligence by outpacing the competition and executing faster than anyone else in the market.
At what point in your career did you decide to focus on luxury products and services?
Victor Young: It happened naturally over time for me. I had an attraction to exotic cars, aviation, and couture clothing as a young man, which led me to explore other aspects of the luxury world. Watches, destinations, fine spirits, and cigars all came into the picture as time went on.
What inspired you to open a distillery after finding success in several other industries?
Victor Young: The world has a funny way of leading you to your next opportunity if you pay attention. Prior to the pandemic, I realized that most of my income came from six and seven-figure transactions. This realization sparked a quest to create a business that I could operate with my family, offering products at prices that anyone could afford.
After months of research, I found myself lounging by the pool with a glass of bourbon and a cigar, reminiscing about the stories my father shared about his moonshine adventures in 1950s North Carolina. The light bulb came on that day for me and I journeyed down the rabbit hole. Dunamis Premium Spirits was born about a year later.
Will experiences from your other industries benefit you in wine and spirits?
Victor Young: Yes, everything I’ve done in the past has allowed me to build my distillery in a fraction of the time that most people would take. My production and storytelling skills came into play when I started crafting my brand story, developing products, and creating marketing strategies
Drawing on my tech background, I was able to approach production and logistics with a global perspective rather than a local one. I’ve also tapped into my luxury connections to launch my spirit brands into hotels and restaurants that most craft distillers dream of. I treat my distillery more like a tech startup than just a still.
How important is technology in your future enterprises?
Victor Young: Technology plays a vital role in shaping the future of my enterprises, including the automotive business, healthcare, and distillery operations. While everyone appreciates old-world craftsmanship and human experiences, it is the integration of innovation and efficiency through technology that paves the way to profitability.
I use technology to precisely calculate the average cost for each batch of bourbon, similar to how an investment banker monitors stocks. It also helps me forecast the volume for distributors, ensuring that we can keep up with demand. Our lab is equipped with cutting-edge technology, which is incredibly appealing to any bio geek. And in case you haven’t noticed, digital retailing is sweeping through every industry.
What advice do you have for young Founders and CEOs?
Victor Young: Wow! That’s a big question. The first money you spend on your business should be allocated to legal and IT. It is important to protect your intellectual property (IP) early on as it gives you the confidence to network and expand without fear. Fear is the enemy of every entrepreneur.
Surround yourself with successful people who understand your industry. They will not only provide valuable insights but may also invest in your business as you navigate the challenging early stages. Many new businesses fail because their leaders lack a deep understanding of cash flow and basic expense management.
Lastly, never allow emotions to enter into your professional environment. Emotions can cloud judgement and eventually kill a great company. You can hear more about my business philosophy on my podcast, The Daily Life Coach on Apple Podcast and iHeart radio.
Jed Morley, VIP Contributor to ValiantCEO and the host of this interview would like to thank Victor Young for taking the time to do this interview and share his knowledge and experience with our readers.
If you would like to get in touch with Victor Young or his company, you can do it through his – Linkedin Page
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