The Jeff Fenster Show · 2025-06-30 · 55 min
Key moments - from our scoring
Substance score
28 / 100
Five dimensions, 20 points each
Preston Caffery brings 24 years of San Diego business experience to his latest venture, Babamos tequila, launched just two days before this conversation. After building a successful mortgage brokerage and watching his wife build a champagne club, Caffery is applying the same people-centric philosophy that worked in those businesses to the notoriously difficult spirits industry. The episode focuses on why great products fail while mediocre ones succeed when run by great operators - and conversely, why bad operators tank great products. Caffery's differentiation lies not in the tequila alone but in how it's distributed and the relationships he builds throughout the supply chain. His tequila is a joven blend of blanco, reposado, and anejo (unlike competitors like Casa Dragones charging $300-500 for similar blends), priced accessibly at roughly $100-150 to maximize distribution and adoption. The conversation also touches on early-stage business economics - the difference between gross revenue and bottom-line profitability, the importance of reinvestment fuel in year one, and whether the eventual goal is acquisition or perpetual growth. Caffery's operational approach mirrors Everpool (Jeff Fenster's restaurant venture), emphasizing that relationships and authentic human connection drive business success more reliably than product quality alone.
Babamos is a joven blend combining blanco, reposado, and anejo in a single bottle, creating complex flavor layers with multiple taste profiles, while competitors like Casa Dragones charge $300-500 for similar blends; Babamos prices it accessibly to prioritize accessibility over margin.
Preston uses self-distribution and prioritizes relationship-building with retailers - asking how Babamos can support them and getting to know people personally rather than just dropping product, which aligns with his people-first philosophy applied throughout the supply chain.
Preston believes accessibility and market adoption matter more than margin expansion in early stages; he compares it to Everpool's strategy of cheaper pricing to grow faster, with the philosophy that this emphasizes it's 'the people's tequila' rather than exclusive luxury.
In the spirits industry, acquisitions are valued on gross revenue, not profit; however, when operating a business, you must manage bottom-line profitability to generate reinvestment fuel for growth without running the machine dry.
Preston's investors expect an eventual exit, but his current mindset is to keep growing the brand he loves; he remains open to bringing in experienced operators (like his co-founder John Maddox suggests) if it serves the brand's long-term success.
Our reviewer’s read on each dimension, with quotes from the episode.
The vast majority of the episode is personal anecdotes (Italy trips, sports allegiances, real estate in San Diego), social banter, and generic platitudes about 'people first' philosophy. The rare actionable insights - booze company valuations on gross revenue, the broken distributor model - appear briefly and are not developed into anything a B2B operator couldn't derive themselves.
In the booze business, when you sell a company, everything goes off the gross revenue, so they're not even looking at your bottom line.
early days of company, it's not about profits, it's about fuel
The entire episode recycles the most ubiquitous entrepreneur-podcast frameworks: 'people first,' 'great operators beat great products,' 'micro-influencers outperform celebrities.' There is no contrarian or first-principles argument anywhere; even the tequila product differentiation is explained in lifestyle marketing language rather than fresh thinking.
it's not just good business. It's just good humanship. Like, just be a good human and start with that.
sales is with people
Preston Caffery is a 24-year mortgage broker who launched a tequila brand two days before recording with no demonstrated track record in spirits, distribution, or CPG at scale. He speaks enthusiastically but has no validated results in the domain being discussed, making this an origin story with no proof points yet.
we launched it. Two days ago.
walking out into a totally unknown compared to what I've been doing for the last 24 years
The episode does supply some concrete numbers - 78 locations in two days, a rough $2K/case retail price, a 100,000 case theoretical ceiling, RNDC and Southern named as failing distributors, Umbria property prices around $300K - but these specifics are scattered amid long tangents and are never interrogated or contextualized with market benchmarks or timelines.
you launched two days ago. And you already are in 78 locations.
I think we can produce 100,000 cases a year. If we were to take all of their agaves
The host asks a handful of genuinely probing questions (pricing strategy, supply scalability, hold-on-too-long vs. cut-bait-early) but repeatedly derails into his own biography, sports opinions, and mutual validation. He tells the guest 'I believe you are going to win' before hearing any substantive evidence, and large swaths of the episode are consumed by Italy real estate chat and basketball team allegiances.
Does that water down the intrinsic value of it? The quality?
Can they keep up if you became huge?
Computed from the transcript - who did the talking, and the words that came up most.
Most people talk about discipline like it’s a trendy habit. But for the best performers in the world - discipline is survival . In this episode, I sit down with Preston Caffery, entrepreneur, speaker, and performance coach, to unpack the raw truth about what it really takes to build something lasting. Preston shares his journey through moments of adversity that would break most people - and how he transformed those challenges into fuel. We dig into: The difference between playing not to lose vs. playing to win Why most entrepreneurs fail to build lasting habits (and how to fix it) The power of environment, community, and accountability The mindset shift you need to actually do the work when no one is watching This isn’t theory. It’s the blueprint Preston lives every day - and how he coaches others to do the same. If you’re tired of feeling stuck, tired of waiting for the perfect time, or tired of looking for motivation instead of building discipline - listen up.
Transcribed and scored by The B2B Podcast Index.
Speaker A: It's not just another tequila. Like, beyond the fact that I would say we're making arguably the best tequila in the world, most people don't realize
Speaker B: that early days of company, it's not about profits, it's about fuel.
Speaker A: In the booze business, when you sell a company, everything goes off the gross revenue, so they're not even looking at your bottom line. But when running a business, you have to look at the bottom line.
Speaker B: Yeah, you do. So is the goal to eventually sell?
Speaker A: It's such a sticky question. I mean, uh, every time we bring in a box, it's usually, uh. And it's. And again, even this, you know, like, the distribution model got broken, which is why RN DC is out. Why Southern is struggling is because, again, they stopped prioritizing people all the way down to. They were just delivering a product to make money, Right? But when we deliver it, it's, you know, it's not just like, here's your product piece. It's like, hey, what do you need help with? How can we support you? What, you know, what's your name? Getting to know people, investing in every single person along the way. Because you should. I mean, in my mind, it's not just good business. It's just good humanship. Like, just be a good human and start with that.
Speaker B: Welcome to the show, Preston.
Speaker A: Yeah, thanks for having me, dude.
Speaker B: Thanks for coming on. This is a rarity for me because being a San Diegan like yourself, the fact that we don't already know each other and we're not already bros, we're connected by Teresa, who is the ultimate connector.
Speaker A: Shout out.
Speaker B: Shout out for sure. And that you've been here since 99 and we don't already know each other. And we played the game and we couldn't name that many people we know. It's played insanity baseball.
Speaker A: No connection there.
Speaker B: None.
Speaker A: We hoop. No connection.
Speaker B: I mean, we must. Did you ever go to the Bay Club? No. Geez. This is weird, but this is awesome. This is fun. I get to meet somebody brand new who's been here forever and has the roots here. This is cool. And thank you for coming on, because I am excited about the launch of a new product. I have heard nothing but amazing things about you, and I think this is going to be great for the audience to hear from someone like yourself who has pivoted from a more traditional industry to something that may seem kind of crazy to some.
Speaker A: It's crazy. Yeah.
Speaker B: Uh, it's kind of crazy. And you just launched it. So we are at the birth of the Story.
Speaker A: Yeah.
Speaker B: And we get to watch it from the birth. And that is really exciting.
Speaker A: Thanks, man. Yeah. Yeah. I mean, it is, uh, it's definitely walking out into a totally unknown compared to what I've been doing for the last 24 years. But that being said, it. I couldn't be more confident about it.
Speaker B: What makes you have that confidence?
Speaker A: I think we, we made something really, really unique in the sense that it's, it's not just another tequila. Like beyond the fact that, that I would say we're making arguably the best tequila in the world.
Speaker B: And I've had some today and I can't argue it's pretty damn good. Like, I am buying a bottle and we met today, so I don't have any skin in this game. Except now I have a bottle of tequila.
Speaker A: Yeah. Thank you.
Speaker B: And I'm not a big drinker, so that means a lot.
Speaker A: Double down.
Speaker B: Yeah.
Speaker A: So part of it is a shot
Speaker B: glass, which is so cool.
Speaker A: Yeah. This, uh, we'll just give a quick demonstration. But yeah, I mean, the topper is a 1 oz shot glass. And then when you're done with it, get a little keepsake. I mean, who doesn't want that? But beyond kind of the, the, the gimmicky coolness of that and, and the sexy factor of, of the, the bottle, um, the lifestyle behind it, kind of bringing back that late 60s, early 70s vibes. Is that why the coastal San Diego, that's the color, even, even the texture and everything is. It's, it was an era that, that, you know, kind of, that like free love, kind of peace love, fish tacos and tequila San Diego vibe. And so we're, we're bringing that back. And so my confidence in this is not just because the tequila is amazing, not because the bottle's sexy, not because of the lifestyle, but it's all of those things kind of put together in one. And then when we share it, we're, we're batting a thousand. It's like, you know, where were you? Why did it take so long?
Speaker B: I mean, I, I think that those are all great reasons. But I want to ask you as a, as a entrepreneur and as a leader and as someone who has to navigate the crazy world. Great products fail always. Great cultures fail, great vibes fail. Hm. Why are you going to be successful with this? What has made you. I mean, you built an incredibly successful, uh, mortgage brokerage firm. Your wife has built a successful champagne.
Speaker A: Yeah. Champagne club.
Speaker B: Yeah, Champagne club.
Speaker A: Yep.
Speaker B: Um, I wasn't sure if it was all from champagne or not, so I want to be careful on how you
Speaker A: say sparkling wines and champagnes. Yeah.
Speaker B: Um, this is not an easy industry.
Speaker A: No, no, no, not at all.
Speaker B: This is the booze industry.
Speaker A: Yeah. We've been warned by plenty of veterans.
Speaker B: Yeah.
Speaker A: Don't, don't do it.
Speaker B: Well, it's just a hard space and trust me, I get it. I'm in the restaurant world. Yep. I mean, come on. Right?
Speaker A: Everyone would say no. Right.
Speaker B: But you should say no. But yet idiots like us do it anyway. So what is it that you think differentiates your team, your approach that's going to take Bemos. Did I say it right?
Speaker A: Yeah.
Speaker B: Which means we drink and we do all the way to where you want to see it go. And like, there's got to be, um, something that you're leaning on because your confidence is exuding. And, and as a, ah, entrepreneur myself, I know when I feel that confidence, which makes me excited, which is why we met today. And I've already said, I've already been calling people to help because you're, you're a local guy, but I believe you are going to win. I believe you are going to do the right things. And I, I felt that instantly.
Speaker A: Yeah.
Speaker B: And so I'm asking because I think for the audience and for our, our people, uh, who are trying to understand how to be successful, they think it's a product.
Speaker A: Yeah.
Speaker B: And products help.
Speaker A: Yeah, they help.
Speaker B: They help. But I know great operators can take a shitty product and win, and I know bad operators can take the best product and lose. So.
Speaker A: Yes.
Speaker B: What is it that you are kind of like that is giving you that? I mean, it's unwavering. Like, let's just be blunt.
Speaker A: Uh, the, the reality is, and this has been the way that I've run every business that I've ever had, people first. Always it. When you put people first, including who you hire, how you hire, you know, it's the who, not the how. So much in that is just saying, like, I value people to their core. And so when you value someone, when you try to get to know them, you understand them. That is, that's. I mean it's not sales, but that is what sales comes down to is because sales is with people. Yeah. And so, you know, I mean, I've been selling everything since, since I was born, Jolly Ranchers on my backpack at school and stuff like that. I mean sales is one thing, but it was always about connecting with people because that is what grows the business. And that's why so many successful entrepreneurs doesn't matter. Like, you Said what you give them, they do well because they. They treat people well. And that, I mean, it's contagious.
Speaker B: It really is. You know, I'm not sitting here but for the fact that I have great relationships.
Speaker A: Yeah.
Speaker B: I am not very good at everything I do, but I have the great relationships, which allows me to do really cool things. Yeah. So when you give me a good product, like ever bowl, I can really win. But you could give me a bad product and I'll be okay.
Speaker A: Right.
Speaker B: Because of the people. And so I really hope that hits home, especially if you're sitting here trying to say, oh, I'm focusing all on my product because I speak to San Diego State's Laven School of Entrepreneurship every year. They are too focused on their product. They are not focused on getting out of the product. The tequila is great.
Speaker A: Yep.
Speaker B: But I'll be honest, because of you, I probably would have liked it even if it was mediocre. Uh, I mean, it's not mediocre, but the way that you create the vibe and the feeling in the conversation, it makes your product better.
Speaker A: Yeah.
Speaker B: And it's psychology. I mean, you could go to Del Taco and eat a taco from a bad employee who doesn't look you in the eye and makes it zero experience. And I could take that same taco, remove the wrapper, put it on a beautiful plate by the most friendly, personable, charismatic individual. The taco will taste different.
Speaker A: It just, hands down, it's true.
Speaker B: It really is true.
Speaker A: Yeah.
Speaker B: They've tested this thing. So you have the ability to influence someone's perception of your product. Yeah. Uh, long before they've ever even tried it. And the leaning into people creates so much abundance and opportunity. So you. You have the people first.
Speaker A: Yep.
Speaker B: You're starting in San Diego. You already. I mean, you launched two days ago.
Speaker A: Two days.
Speaker B: And you already are in 78 locations.
Speaker A: Yep.
Speaker B: Like, I don't even know if you can fulfill this. No, no, we're.
Speaker A: It's going to take some time. We're doing it slowly. Yeah.
Speaker B: So you don't even have enough booze today?
Speaker A: Uh, we have it in the warehouse.
Speaker B: Okay.
Speaker A: But it, you know.
Speaker B: Yeah.
Speaker A: We're self distributing, so we're literally every time we bring in a box, it's us and. And it's. And again, even this, you know, like the distribution model got broken, which is why RMDC is out, why Southern is struggling is because again, they stopped prioritizing people all the way down to. They were just delivering a product to make money. Right. But we when we deliver it, it's, you know, it's not just like, here's your product piece. It's like, hey, what do you need help with? How can we support you? What, you know, what's your name? Getting to know people, investing in every single person along the way. Because you should. I mean, in my mind, it's not just good business. It's just good humanship. Like, just be a good human and start with that. But yeah, I mean, like, we're. We're slowly but surely distributing to all the locations and growing every day. And so the idea is we don't want to be in every single bar and restaurant in San Diego.
Speaker B: But why not?
Speaker A: Well, I think there's, like, you know, there's certain places that just Babamos wouldn't fit. It's an ultra premium tequila. And there's some, um. There's some spots where they just, you know, might not, might not vibe.
Speaker B: Sure.
Speaker A: You know, if you're at Chili's, you're not thinking, I want to have a $25 pour tequila. And if you are, then, you know, give me a call, cuz that's great.
Speaker B: I mean, come on, Chilies. Maybe you'll get the rebound. So maybe more people will go for them ribs. If you can have a little bit
Speaker A: bamos with a little b. I mean, we'll do a pairing.
Speaker B: I mean, why not?
Speaker A: I would do that.
Speaker B: Yeah, me too.
Speaker A: Barbecue ribs and babos.
Speaker B: I bet it's pretty good.
Speaker A: How could it not be?
Speaker B: I mean, it's true, but it not be.
Speaker A: I mean, a jack in the box taco and babos is delicious.
Speaker B: Like, how well, the bamos is. I mean, the jack in the box taco is delicious.
Speaker A: They deep fried the whole thing. I mean, that's. That's cool.
Speaker B: It's not good for you, though.
Speaker A: No, absolutely not.
Speaker B: An ever bowl in Babymos.
Speaker A: Let's try it.
Speaker B: Gosh, we're gonna get drunk today, aren't we?
Speaker A: It's not the worst thing that's happened.
Speaker B: It's really not. Except I don't drink very much, and you're getting me drunk off your tequila.
Speaker A: Well, it's part of the show.
Speaker B: I mean, it is, and it's really good.
Speaker A: You invited me on the show. That was.
Speaker B: And my family will attest, I don't drink often, but when I do, I do drink mostly tequila.
Speaker A: Like, nice.
Speaker B: I can drink a lot of tequila.
Speaker A: Yeah, for a guy who doesn't drink, it's. I mean, again, just like with ever bowl, the idea is, like, let's. Let's do something pure.
Speaker B: Yeah.
Speaker A: And something good. So, yeah, you're not going to indulge in it 24 7, but when you do, like, feel good about it.
Speaker B: So maybe explain to me what makes this one different because you mentioned hoven.
Speaker A: Yep.
Speaker B: And I am not a tequila savant. I don't know if they're even. That's the word sommelier in wine. Like, I don't know what it is in tequila. Yeah.
Speaker A: Not really a name, but you should come up with sommelier.
Speaker B: So I'm not a samier, but what is a hoven? Tequila.
Speaker A: Great question. So hoven means young in Spanish or youthful. Um, and so in tequila, a hoven is a blend. Typically, the couple companies that do it, and they're bigger companies like Casa Dragones or Class azul, they're charging 3, 4, $500 for their bottle. And what they're doing is they're taking a blanco, blending it with a little bit of extra anejo, calling it a day. And, uh, you know, ours is much cheaper, and I would argue it is ten times better. Um, but what we do is it's a blanco, a reposado, and anejo. So all three in one last kale you ever need. Right. You just. If you like blanco, you're gonna love it. You're like repo. You're gonna love it, and yo, you're gonna love it. And there's just these layers. So when you. When you blend like that, there's a complexity when you're drinking it. So you don't just get the attack. You don't just get the sweetness. You don't just get the spice. You kind of get this, like, long, lingering flavor profile as you drink it. Which is why we say it pairs with everything, because it's got a little bit of everything in it.
Speaker B: So why. Why not make it more premium price? Why be cheaper than them?
Speaker A: Great question. Accessibility. I mean, at the end of the day, like, it's a. It's a fair price. And, yeah, we could mark it up, make more money, margins, all that stuff. But. But I want everyone to have it. I want it to be accessible to everybody.
Speaker B: Does that water down the intrinsic value of it? The quality? It. I mean, I want everyone to be able to afford a Ferrari, but if. I don't know if I want everyone driving a Ferrari, because then it's not a Ferrari.
Speaker A: Yeah, I would say we're. We're more like in this. Like, I want everyone to be able to afford a BMW. Right. Like, it. It's. It's an incredible car. It does the job, but it's also smooth, it's easy, lasts a long time. Like, this is one of those experiences where if you put, if you put the things in your life in order of priority, like, I want to eat healthy, I want to live better. Know you're going to spend money on those things, but you don't have to spend all your money on, on something that, that's kind of like price irrelevant. So if you want to have organic food, you can get organic food, or you can go to certain specialty markets that are giving you the exact same food, but they're charging two, three times as much. You just don't need to do that.
Speaker B: Sure.
Speaker A: So that's kind of more or less like the, the price doesn't devalue the brand. I think it, it actually just emphasizes the fact that, like, this is, this is the people's tequila.
Speaker B: By the way, I did the same thing with Everpool. Yeah, I was just asking your question. I'm asking questions.
Speaker A: Great question.
Speaker B: Um, because I got asked the same thing because when we launched, we were cheaper than everybody else. And they're like, well, if you're a higher quality, why are you cheaper? For the same reason.
Speaker A: Same.
Speaker B: Because why not? Yeah, why not grow it? Second part of that, though, is how do you anticipate being able to survive and thrive if you don't make enough money on the early days? Because. Right. Most people don't realize that early days of company, it's not about profits, it's about fuel 100% and you need to make enough money early so you have the money to reinvest to actually grow the business. Because there will be stumbling blocks, there will be walls, there will be situations where you need to make capital investments. Now, maybe you already have it, maybe you don't, maybe you're going to raise money. But either way, profits and revenue are a great source of fuel to reinvest into the business. So are you thinking about that today or is it right now just market adoption?
Speaker A: No, no, definitely think. I mean, you have to, right? Like, uh, in, in the, uh, booze business, when you sell a company that everything goes off the gross revenue, so they're not even looking at, at your bottom line. But when running a business, you have to look at the bottom line.
Speaker B: Yeah, you do.
Speaker A: So for us, I mean, that's, it's always part of the conversation. There is enough margin for us to continue to put gas in this machine.
Speaker B: Okay.
Speaker A: Um, without, without flooding it or without running dry either.
Speaker B: So is the goal to eventually sell.
Speaker A: It's such a sticky question. I mean, uh, our investors, I'm sure, would say, like, yes, that. That sounds great.
Speaker B: Yeah. Uh, you have investors, then the answer
Speaker A: is, yes, we do. Yeah. Um, that being said, uh, we've had meetings, and. And even a lot of our investors are like, look, five years down the road, this thing's doing great for everybody, and there's way more road to run on. Like, why. Why would we not keep driving? So I. I'm coming from it, you know, as a CEO, from the angle of, I love this product, I love this brand. I love the people that I work with. I'm just going to keep growing it.
Speaker B: Sure.
Speaker A: I just want to keep sharing it. I want to keep building.
Speaker B: If.
Speaker A: If someone says, you know, it's time to stop.
Speaker B: Yeah.
Speaker A: Then, you know, I will talk about it.
Speaker B: Yeah, you'll talk about it.
Speaker A: Yeah.
Speaker B: Good for you on that.
Speaker A: Yeah.
Speaker B: Thanks. It's a hard question. It is a sticky question because you want to be loyal to the brand. You obviously are a believer in it. It's yours. It's your baby.
Speaker A: Yeah.
Speaker B: The idea of selling your baby sounds horrible, but it sounds wonderful. And there is a moment in time where to see it actually achieve where it needs to achieve. It may have to leave your hands, and it's not a result on you or me, but there are vehicles and systems available for brands in different verticals and niches to exponentially grow. Right. If I was a soda business, I want Coke or Pepsi to buy me, because if they do, my distribution is 100% now.
Speaker A: And it. I mean, yeah, it's like raising a child. Right. Like, you. You get them to the place and then you go, you're. You're better off in. In someone else's hands. Now. My, um, business partner, co founder John Maddox, he. He reminds me of those things a lot. Right. He's like, look, you're the CEO, doing a great job. Keep. Keep running, keep rolling.
Speaker B: Sure.
Speaker A: But know that there might be a time where it's. It's better for you to bring someone in that. That's been doing this for 20 years and knows where to take it. I'm like, great. I, um, have no. No pride in that at all.
Speaker B: Yeah.
Speaker A: I'm excited.
Speaker B: So, philosophical question. Are you the type of guy who. You'd rather hold on too long or not hold on long enough?
Speaker A: Oh, gosh, that's a. That's a hard one. Yeah.
Speaker B: Uh, it's a fundamental question for a lot of people.
Speaker A: So I've seen. I've seen A lot of things happen,
Speaker B: not just in business. I'm talking about life.
Speaker A: Yeah. Yeah.
Speaker B: All things.
Speaker A: Yeah.
Speaker B: You are going to find out you cut bait too early or you're gonna find out you held on too long.
Speaker A: Yeah.
Speaker B: Which would you rather?
Speaker A: I'm. I'm one of the people who is okay. Cutting bait too early. Okay. Because I'm already really happy with, with what I've got in my life. I mean, I'm in love with my wife. My kids are incredible, great friends, great family. I'm like, this is. This is as good as it gets.
Speaker B: I mean, I'd almost say, let's have a shot, but I need to make it through this thing.
Speaker A: All right. After.
Speaker B: After.
Speaker A: So that's okay.
Speaker B: That's a good answer.
Speaker A: Yeah. So I would, you know, I would lean that way.
Speaker B: Sure.
Speaker A: Now, have there been times where I've sold things, stock, whatever, and then been like.
Speaker B: It could be relationships, too. Relationships holding on too long or cutting bait too early.
Speaker A: Yeah.
Speaker B: You know what I mean? It's not just business. Totally. So it's an important one because I think all of us need to identify with which one we are.
Speaker A: Yeah.
Speaker B: And then. Great question. Understand that about ourselves and make sure we protect ourselves from ourselves.
Speaker A: Yeah. What about you?
Speaker B: I'm a hold on too long.
Speaker A: Yeah.
Speaker B: Um, I don't like the end as much because I like the journey. So even if it's a rough relationship, I tend to hold on longer than I probably should. Um, it backfires a lot.
Speaker A: Yeah.
Speaker B: And now I know that about myself. So I try to be cognizant of that as I make my decisions in life, in business, I think the better answer is a little or too soon. Um, because you may avoid the. You may limit yourself from the tops, but you avoid the bottoms.
Speaker A: Right.
Speaker B: My way, I don't limit myself from the tops, but I hit the damn bottoms. Because when you hold on too long, it's. Well, shit, it's over.
Speaker A: Yeah. The bottom hurts.
Speaker B: The bottom hurts. So it's. It's much more painful.
Speaker A: Yeah.
Speaker B: Of, uh, of a path. Um, and then when you try to self correct, you're not being as authentic about yourself. Both sides.
Speaker A: Right.
Speaker B: So I may cut bait way too early because I don't know what too early is. Right. And you may, uh, choose to hold on and never let go because you're like, well, I don't know how to not.
Speaker A: Right.
Speaker B: Right. So I think it's. It's one of those things, though, as you think about business and you think about life, you think about success in Sports, Um, business relationships. Yeah. Both professional and personal. I really believe that there needs to be more emphasis on these kinds of attributes and characteristics.
Speaker A: Totally agree.
Speaker B: Because this is cool. Your mortgage business is cool. But if you lost them both, you're going to do something else cool and you're going to be successful just from. Again. I've known you for an hour and a half because you demonstrate the characteristics of the people who are repetitively successful. And that's what I hope everybody can start to learn.
Speaker A: Yeah.
Speaker B: Stop trying to learn business models. Stop trying to learn how to make a product or market this or speak this, or sell this. Those are not the skills that translate to winning. Yeah, right. It's the things you do because they're innate. Right. It's the way you approach the problem matters more than the problem.
Speaker A: I create, uh, a thousand percent.
Speaker B: And I. That's what I'm saying. Like I am. I still can't believe we don't know each other. Silly. It's. It is a relationship guy.
Speaker A: Ah.
Speaker B: You sure you're from San Diego? Is this like a. Am I about to get punked? Teresa, where are you?
Speaker A: 99. I mean, yeah.
Speaker B: I mean, damn. We graduated college the same year I went to U of A. You went to San Diego State?
Speaker A: Yep.
Speaker B: I moved back. I hung out with. When I was in town, I just hung out with San Diego State people.
Speaker A: Insane.
Speaker B: Yes.
Speaker A: Yeah, there's.
Speaker B: My friends went to San Diego State. We just.
Speaker A: We're being kept apart until now. That's the, uh.
Speaker B: Why real estate, besides a great way to make money.
Speaker A: Um, also my business partner now, John Maddox, he, um, was in real estate finance like four years prior to me.
Speaker B: San Diego.
Speaker A: San Diego born and raised.
Speaker B: Where'd he go to high school?
Speaker A: I think Poway.
Speaker B: Okay.
Speaker A: Yeah.
Speaker B: Well, you're degraduate. Same as you.
Speaker A: He. No, no, he's, uh. He's 52. Okay. Yeah.
Speaker B: Because I grew up right next to Poway. My first ever was in Poway.
Speaker A: It's crazy.
Speaker B: Yeah.
Speaker A: And you. You never, never met him either.
Speaker B: I mean, I'm 42, so he'd been 10 years older than me, so I probably wouldn't have met him in high school.
Speaker A: I don't know.
Speaker B: John Maddox.
Speaker A: Yeah.
Speaker B: Um.
Speaker A: Crazy.
Speaker B: I need to see his face. Yeah, this is weird.
Speaker A: Pull him up. Pull him up.
Speaker B: Seriously, Andrew. Get him up on the screen if you know that's FaceTime. Good.
Speaker A: Good looking guy too.
Speaker B: I bet.
Speaker A: Yeah, he's the George Clooney of the.
Speaker B: Of the bit. For sure. Yeah, yeah. Nice.
Speaker A: It helps.
Speaker B: Maybe put him Right here.
Speaker A: Yeah, exactly. We could put his face on.
Speaker B: Two of you holding a drink. We drink.
Speaker A: Yeah.
Speaker B: Here I am just doing great marketing things for you. So. Okay. So sorry, why real estate? So.
Speaker A: Oh, yeah, so. So he was, uh, in real estate finance. I had just gotten married and had been offered my first job, uh, right out of college. Right out of college. And it was for $24,000 a year. And he was like, and you're getting
Speaker B: married and you just met him?
Speaker A: No, no, we, we actually, we had worked together years prior, then we lost connection, then we connected back again, and, uh, he was like, not a chance. Um, come work for me. You'll. You'll make that in a month. And I was like, is dealing drugs?
Speaker B: You sure?
Speaker A: But sure enough, I, uh, after six months of training, I made that in a month.
Speaker B: Yeah.
Speaker A: And then the rest is history.
Speaker B: Rest.
Speaker A: History. Yeah. I mean, and again, it was never about money for me. I mean, it was awesome to get money and do things, but, um, I loved sitting down with a family and like, rather than just saying, like, what's your mortgage? Oh, I can beat that rate. It was like, why. Why are you refinancing? Why do you want to lower it?
Speaker B: What's.
Speaker A: What's going on? And you get to know people and then you realize, like, yeah, I can help solve this problem. But like, there's so much more that goes into it. I loved meeting people at breweries or bars. Sometimes it's like coffee shop, but, you
Speaker B: know, clearly a bar, but you get
Speaker A: to know people better.
Speaker B: It's for research.
Speaker A: Yeah, it's for research. I was always researching the Bamos. It. Just didn't know it yet.
Speaker B: Yes.
Speaker A: Yeah.
Speaker B: San Diego State.
Speaker A: Mhm.
Speaker B: So what did you do between 08 and 10 when the entire real estate market shriveled up?
Speaker A: Yeah, great question. So I had a huge office at the time. Um, and we obviously had to close the doors because we were working with Bear Stearns and everybody that basically crapped the bed Countrywide. Um, you know you have a bank with Washington Mutual? Oh, yeah. Wamu.
Speaker B: Yeah. Until they disappeared.
Speaker A: Yeah. Yep. I had a loan with them. Yeah, that disappeared too.
Speaker B: Yeah. But although Chase, I think, bought my.
Speaker A: My loan from them, Chase took over
Speaker B: W. And then magically they got to go away, but I still had to pay the loan.
Speaker A: M. That's how it works.
Speaker B: That's how it works.
Speaker A: That's how it works. Yeah. So market tanked, um, and my. My mom had unfortunately just passed away.
Speaker B: Sorry.
Speaker A: And so I was talking to my wife and I just said, look, We, We've got this seeming white picket fence, you know, thing, and the market's terrible. But I can find a way. I'll find a way to continue to pay these bills. I'll just have to work 80, 90 hours a week. Or we can sell everything, move to Italy. And she was like, um, go to Italy. Let's go to Italy. Yeah. I mean, not a lot of wives would have said that, to be honest. Like, when people have the stuff, they're like, great, I don't need to see you go work.
Speaker B: Yep.
Speaker A: She was like, no, let's go to Italy. So sold everything, moved to Italy.
Speaker B: Where?
Speaker A: With our kids in Umbria. So it's just. Just east of Tuscany. Farm town. Um, beautiful.
Speaker B: Umbria. Picked a dot on a map.
Speaker A: That's how we did it.
Speaker B: I would go to Cinque Terre.
Speaker A: I mean, it's beautiful. We went there.
Speaker B: I've never been. Italy.
Speaker A: Never?
Speaker B: No. I've been to lots of places in the world I've never been in. The one place I always wanted to go is Cinque Terre.
Speaker A: Since I was a kid. We got to fix that. Yeah. Is beautiful. Yeah. And there's a, um, train that connects.
Speaker B: I have no idea. I've never been.
Speaker A: It's where pesto was invented.
Speaker B: Is it really?
Speaker A: Yeah.
Speaker B: Pesto.
Speaker A: Pesto.
Speaker B: Cinque Terra.
Speaker A: Yeah. So my family is Northern Italy. Treviso.
Speaker B: Okay.
Speaker A: Um, but we didn't go there. We just were like, let's go. It was. Our kids were three and five.
Speaker B: Okay.
Speaker A: And we're just like, let's.
Speaker B: Let's just go.
Speaker A: Move to Italy. So we went to this small town, San Leo Bastia, in Umbria. 800 people. No one spoke English.
Speaker B: 800 people.
Speaker A: Yep.
Speaker B: So you speak Italian?
Speaker A: I mean, better than I speak Spanish, but I'm working on both.
Speaker B: How long were you there?
Speaker A: Uh, we were there for six months. Then we moved to, um, Ibiza, where friends of ours had just bought a house. They had this huge house, and they're like, come live with us. So live there for a little bit. Move back to San Diego market. Pick back up.
Speaker B: How long are you in Ibiza?
Speaker A: Uh, we were there for three months.
Speaker B: Okay.
Speaker A: Yeah.
Speaker B: So nine month adventure.
Speaker A: Nine month adventure.
Speaker B: That's cool.
Speaker A: Came back to San Diego, restarted our life, too.
Speaker B: This was like the adventures before.
Speaker A: Oh, yeah, yeah, for sure.
Speaker B: This is like 08. This is.
Speaker A: No, no, it was 11. Yeah. So Market Tank took till about 9, 10 for things to really. And then had to fire. I. I tried to hold on again. Cutting early. I, uh, get it I tried to hold on, but it was also because, I mean, everybody that worked for me were friends of mine. Of course, I didn't want anyone to go home and be like, look, I can't pay the mortgage anymore. So we're doing everything we could to try to stay afloat, but it just. It was inevitable.
Speaker B: Yeah. So there's nothing. A rising tide lifts all boats, and a big tidal wave crushes all boats. So there's nothing you can do. And there's nothing you can do.
Speaker A: Yeah. It was brutal. It took me a while to learn that, though.
Speaker B: Yeah, of course. I mean, industries die.
Speaker A: Yeah.
Speaker B: Or they get battered, right?
Speaker A: It got battered.
Speaker B: It got.
Speaker A: Yeah, it came back really strong.
Speaker B: Really strong.
Speaker A: So when I moved back, it was like, you know, came back, I'm like, what am I going to do for money now? And then.
Speaker B: What did you do in Italy?
Speaker A: I just hung out with my family.
Speaker B: Wow, that's cool.
Speaker A: Yeah, it was. Oh, it was magical.
Speaker B: Why'd you come back?
Speaker A: Ran out of money.
Speaker B: Okay, That's a good reason. Yeah, that's a really good reason.
Speaker A: Yeah, it makes sense.
Speaker B: In Ibiza. Uh, Spain.
Speaker A: Spain.
Speaker B: You didn't speak Spanish really either?
Speaker A: No.
Speaker B: Do you ever think of an English European country that maybe you could talk to people?
Speaker A: I don't think so.
Speaker B: None of them?
Speaker A: No, no, we just. We just were having a good time. I mean, like, so Italy, it's My. My family's from Italy, so I'm like, I want to be there. And then our friends weren't.
Speaker B: Why not?
Speaker A: Ireland.
Speaker B: You're also Irish.
Speaker A: We just went for the first time for our 21 year anniversary. Ireland is the coolest place in the world.
Speaker B: Like, do you remember any of it, or are we drunk the whole time now?
Speaker A: I remember it all. Yeah, no, it. It's, uh. Ireland is. Is incredible. And we were in Dublin.
Speaker B: Tequila.
Speaker A: Well, they drink Guinness mostly. That's like their water.
Speaker B: Well, Irish whiskey, too.
Speaker A: Yeah, I mean, Irish whiskey is great. We. We drink a lot of it. But mostly I was drinking Guinness, and you can have like, 12, 15 Guinness in a day feel great.
Speaker B: No, I don't know about all that.
Speaker A: Let's test it out.
Speaker B: No, I'm not a beer drinker.
Speaker A: Me try.
Speaker B: I can drink your tequila.
Speaker A: Okay, fair enough.
Speaker B: You make a beer.
Speaker A: Pushing too hard too soon.
Speaker B: All right, you make a beer, I'll drink it. But for now, fair, we drink tequila.
Speaker A: Good. Yeah.
Speaker B: Let's get the focus back on tequila. 100%. Wow.
Speaker A: Yeah. So we moved back, and then 2016, we did the same thing, but for no reason.
Speaker B: Where'd you move now?
Speaker A: We, uh, moved back to Italy.
Speaker B: Where?
Speaker A: Same, uh, spot. Umbria.
Speaker B: Same spot?
Speaker A: Yeah. Not the same town, just a little bit up the road, but same, same.
Speaker B: Why?
Speaker A: It just we, I think we realized, like, we didn't want to just stay caught up in the rat race. And this time it wasn't because we were limited by what had happened in the market.
Speaker B: Yeah.
Speaker A: And I can work from Italy. It's all laptop, phone, Charlie. So this time, so that time we went. The next time we went for eight months and then we moved back to, um, Napa Valley. We just wanted to be around wine and drink and hang out and enjoy life. But also we were homeschooling our kids.
Speaker B: Yeah.
Speaker A: So that was anywhere. Do it anywhere.
Speaker B: How old were they when you moved to Italy the second time?
Speaker A: Second time? I think it was. They were 11 and 13.
Speaker B: And they were okay with this.
Speaker A: Totally down. Lovely.
Speaker B: Really?
Speaker A: Yeah. Yeah. And if you talk to them now, they'll say it was the best, best year of their life.
Speaker B: I believe that to convince a 13 year old kid to leave their friends and move to Italy, much harder for
Speaker A: our daughter than our son. Yeah. Yeah. He was like, let's, let's roll.
Speaker B: I mean, we jokingly tried to get my, tried to get my youngest, uh, my oldest is in college. I jokingly tried to get my youngest daughter. And we were just joking.
Speaker A: Yeah.
Speaker B: And I'll say, let's just move somewhere. And she's like, freaks out on me. Like, I just said the worst thing you could ever say. I'm not leaving my friends. You're crazy. Like, she looks at me like I'm a psycho.
Speaker A: It's. Well, I mean, cuz.
Speaker B: And I'm joking. It's crazy. You're serious?
Speaker A: Oh, yeah. We did.
Speaker B: And you did it.
Speaker A: And I'll say this, it. Not only was it the best year of their life, now obviously looking back on it, but it, the, the break wasn't so hard. Right. Like, they were like, this is going to be impossible. My daughter more because of her friendships. And then we got there, she could still face, call them FaceTime, do whatever. And it didn't change anything. They didn't feel like when they came back they were out. But the, the challenges and um, I guess kind of breaking the mold, doing that.
Speaker B: Yeah.
Speaker A: Has changed their life forever.
Speaker B: Why did you come back the second time? Was it always planned to come back?
Speaker A: It was always planned to come back.
Speaker B: Nine months, we're out.
Speaker A: Uh, no, we didn't even set an end date. It was like hey, what are we going to do? Know, What's. What's the clock? And then I think for us, it was like, all right, let's. Let's just go home for Christmas.
Speaker B: Okay.
Speaker A: And so that was. We just said, let's go home. So went back.
Speaker B: Apartment or hotel?
Speaker A: Uh, no house. We. You saying out there?
Speaker B: Yeah. Did you rent a house? Yeah, yeah, we rented it.
Speaker A: We rented a huge house. Yeah, it was am. And. And again, Italy, Umbria specifically, is beyond affordable. The average annual household income at the time was €23,000 a year.
Speaker B: Come on.
Speaker A: And that's with four working people.
Speaker B: So is it. It's very impoverished.
Speaker A: It's very affordable.
Speaker B: Yeah, but is it impoverished?
Speaker A: No, that's the. That's the difference.
Speaker B: But can you go to restaurants? Like, totally. Can they stay afloat?
Speaker A: Yep.
Speaker B: Really?
Speaker A: Yeah.
Speaker B: Uh, is this one of those places that you see online that you could buy a house in Italy for, like, a dollar?
Speaker A: No, no, those are, like, outside regions, places that have completely crumbled.
Speaker B: Would you do that?
Speaker A: We've thought about it. For sure.
Speaker B: You're in the real estate game. Tell me.
Speaker A: Yeah.
Speaker B: Would you do that? My wife always shows them to me. Like, why? It's got to be some catch to this.
Speaker A: Yeah. I mean, the catch is you have to. You have to rebuild it within a certain amount of time, and then they want you to spend a certain amount of time there. I think it's like, 30% of the year.
Speaker B: Oh. Uh. And it's obviously a run downtown because they're selling homes for a dollar right now.
Speaker A: If you were like, hey, let's get a group of 100 people together and let's rebuild this and turn this into a city.
Speaker B: That would be great for 100 bucks. I'll put a dollar in.
Speaker A: So I'll put a dollar in.
Speaker B: And then how much do you think it'll cost to remodel these?
Speaker A: Probably, like, 30 grand.
Speaker B: That's it?
Speaker A: Yeah.
Speaker B: For $30,001, I could have a remodeled house in Italy.
Speaker A: Not a house. These are all, like, apartment things.
Speaker B: Oh, they're not houses?
Speaker A: No. Oh, yeah.
Speaker B: So what do you mean they're apartment things there?
Speaker A: It's like. It's like an apartment building, you know, like a little castle.
Speaker B: Getting a room or a bedroom, little kitchenette in a condo building, basically.
Speaker A: Yeah.
Speaker B: I don't want that.
Speaker A: Yeah.
Speaker B: Not in Italy.
Speaker A: No.
Speaker B: I want vineyards.
Speaker A: No, it's better to spend real money and get.
Speaker B: What would it cost to buy a house?
Speaker A: And so we were shopping. We were. We definitely shopped a lot. So to buy in. In Umbria, so Tuscany, it price goes up. But in Umbria, if you want to buy like a four bed, four bathroom pool, couple acres, maybe a, like a cottage on their land, let's say five acres, 300 grand. Oh, yeah.
Speaker B: You're lying.
Speaker A: No, not at all.
Speaker B: No, you're lying.
Speaker A: Not at all.
Speaker B: Okay.
Speaker A: It's.
Speaker B: I'm going to bet you a shot after this thing.
Speaker A: Oh, deal. Well, this you're going to second one now.
Speaker B: You're going to show me that you could buy five acres, four bedroom, four bath with a pool for $300,000 instantly.
Speaker A: Yeah.
Speaker B: Come on.
Speaker A: Oh, totally.
Speaker B: And an American can buy it.
Speaker A: Yeah. Oh, yeah. And if you want to get financing, if you're dual citizenship.
Speaker B: I don't have.
Speaker A: It's not Italian, they give you 90 financing, but if you're American, 50. So you don't have to pay.
Speaker B: I mean, 150 grand though.
Speaker A: Yep.
Speaker B: And how far from like a real city is Umbria?
Speaker A: 45 minutes.
Speaker B: And where you. Where's the closest real city?
Speaker A: Like you would that.
Speaker B: That, uh, anyone who knows like five cities in Italy would know.
Speaker A: I mean, Florence is an hour and a half away.
Speaker B: Okay.
Speaker A: Yeah.
Speaker B: So you would fly into Florence.
Speaker A: Fly into Florence or to Rome. Rome's like a two hour drive and a half hour.
Speaker B: So it's not that far from Rome.
Speaker A: No, not at all.
Speaker B: $300,000. Yep.
Speaker A: Yeah, we put in, you know, we
Speaker B: live in San Diego.
Speaker A: Oh, dude, don't. Trust me. I know.
Speaker B: I can't buy a room in the worst building in San Diego for that price.
Speaker A: Right.
Speaker B: It's.
Speaker A: I, uh, this is something we talk about all the time. We're like, what? Why are we doing this?
Speaker B: They have to be able to earn.
Speaker A: So that's the difference. Like the, the dream is, you know, get rich, do what you do and then.
Speaker B: Yeah.
Speaker A: Go there. Yeah.
Speaker B: So sell a lot of tequila. Then you go and buy your. You buy like the whole town.
Speaker A: I just buy a giant winery and then I just, you know, start making wine. Why not?
Speaker B: Why not? That is fascinating.
Speaker A: Yeah.
Speaker B: Um, you know what's really funny about that story? My wife, when I was 24 and had a job and wanted to quit because I got my first job at $38,000 with a baby and all that in San Diego and law school loans. I said, I want to quit my job, sell our house that I had just bought and move in with my parents and my daughter and fiance. And she said, yes. Ain't that neat?
Speaker A: Wow.
Speaker B: Yeah. Otherwise I'm not sitting here today keeper I'm slanging payroll. Still at adp?
Speaker A: Yep.
Speaker B: Probably making a boatload of money working half as much as I do now. But I wouldn't be enjoying what I do.
Speaker A: You wouldn't be who you are.
Speaker B: No.
Speaker A: Yeah.
Speaker B: But my wife said yes, too. Isn't that crazy?
Speaker A: Amen for them.
Speaker B: Yeah, right. Our wives are badass.
Speaker A: Uh, thanks. Which is a camera to say, thank you, honey.
Speaker B: Any of them.
Speaker A: Yeah. Appreciate you, Shilo.
Speaker B: Thanks, Shilo. Because we don't have this tequila if you don't go to Italy.
Speaker A: Fact.
Speaker B: Well, maybe you do.
Speaker A: No, there's no way.
Speaker B: No. Where'd you get the idea for this?
Speaker A: I mean, for tequila in general. Yeah, I. We stole my wife's business plan.
Speaker B: Great.
Speaker A: Yeah.
Speaker B: I love that.
Speaker A: Yeah.
Speaker B: What's your wife's business called?
Speaker A: It's called we drink bubbles. So she started this ten, uh, years ago. It was essentially finding small growers in champagne and sparkling wine. And then she would put together a curate a three bottle box for people and send it out monthly.
Speaker B: Like a club?
Speaker A: Like a club. So it was 125 bucks. You get a bottle or three bottles every month.
Speaker B: How did she market that? Why would I pay her to give me the three bottles?
Speaker A: So she's a psalm. Um, she definitely knows what she reason right there. Yeah, totally.
Speaker B: And she actually knows what she's doing with it. And she's. Now it's not just like, drink to drink. She actually knows the drink.
Speaker A: She knows the real. The real deal. And she really, like.
Speaker B: Did she spot every flavor?
Speaker A: Totally.
Speaker B: Like, could you. Could you. Could you trick her? Like, could I take something that is there and then add like, one drop of like, one weird flavor? And she. Oh, she would know for sure. She'd be like, no, this isn't authentic. It's a dash of cinnamon.
Speaker A: She would know that something's off. 100%. Yeah.
Speaker B: Be a fun test.
Speaker A: Oh, she's. She's incredible.
Speaker B: And just test.
Speaker A: Amazing palette. And she's. I mean, smart as hell. She is a master of champagne, which there are very few of those.
Speaker B: What does that mean?
Speaker A: It means that she just knows more about champagne than everybody.
Speaker B: Okay. And it means. And that's in the champagne region of France.
Speaker A: Champagne region of France, Yeah.
Speaker B: Has she been there? Oh, yeah.
Speaker A: We. I mean, we go two, three times a year.
Speaker B: Okay. She didn't live there.
Speaker A: No. Well, uh, no, but we've spent a lot of time.
Speaker B: What gave her that palate? God, I would hate to cook for her.
Speaker A: Oh, that's. I mean, I think that's where it was Created.
Speaker B: Don't let her actually, you know, let her go to Everwell. But if she has nothing nice to say, just pretend she never went there.
Speaker A: I mean, she loves it. It's great.
Speaker B: See? Ever both Master Taste loves Ever. You know, she really is. I concur.
Speaker A: I concur.
Speaker B: I haven't met Shiloh yet, but I agree. Shiloh, you are a master.
Speaker A: Yeah.
Speaker B: Scared me, though. Oh, don't be that good.
Speaker A: No, no, no.
Speaker B: It's.
Speaker A: And so she started this company. Um, essentially, she didn't want to go back to teaching. She was an elementary school teacher.
Speaker B: Okay.
Speaker A: She loved it, but she was like, I don't want to be a teacher anymore, you know?
Speaker B: Oh, what subject?
Speaker A: Uh, she was elementary school, so, like, everything. Everything. Yeah.
Speaker B: So she's, uh, patient. Patient. That makes sense.
Speaker A: Yeah. So we moved back from. From Italy the. The second time, and, uh, I was like, what. What do you want to do if you don't want to teach? And she's like, I mean, I like champagne. I'm like, well, don't we all? Yeah. And she's like, well, I could turn it into this business. And then she just came up with this model.
Speaker B: I really hope everyone's listening to that right there. Do you know how many people give me this line? I don't know what to do? What, do you love to do this? Then do it. Even if it doesn't make you money?
Speaker A: No, because then you'll love doing it every day. I mean, she had 16 club members that were just friends to start.
Speaker B: It's great.
Speaker A: Happy as she could ever be. I mean, it's incredible. And. And again, being in the industry that she loved. And from that, I mean, it's. It's grown. And then Covid hit. It exploded because. Booze to your door. Um, and then, uh, John Maddox and I were. Were drinking together. My business partner, and he was like, what if we do what. What Shiloh's doing, but with tequila? And I'm like, well, let's go to Mexico and find out if it. If it's a possibility. Because really, what it was is finding small families that were making arguably the best product that no one knew about.
Speaker B: Yeah.
Speaker A: And so that's what we did, was a scavenger hunt.
Speaker B: Okay, I'm gonna ask you a tougher question. Yeah. Can they keep up if you became huge?
Speaker A: So a lot of the families can't.
Speaker B: Right.
Speaker A: And so that's why, separate from Babymos, the. The business, we drink tequila, which is the import distribution business that we have, and that we also started a Quarterly club. So rather than doing monthly, like my wife is quarterly. And it's one bottle instead of three.
Speaker B: You have, uh, you have a short lifetime value of customer. Because they might not be around very long.
Speaker A: Exactly. So we're, like, pacing it out. Um, and so with that club, two bottles a week. It's just small. It's. You know, we're with all these small families. It's like some of them make a thousand bottles a year.
Speaker B: Sure.
Speaker A: We can. We can do that in our club because it's one shipment. So you get.
Speaker B: But this bottle.
Speaker A: But this is different. So the family we partnered with here, they are farmers first.
Speaker B: Okay.
Speaker A: You know, hundreds of hundreds of thousands. Thousands of acres of agaves. And so they sell their agave to the big guys. They just.
Speaker B: Yeah.
Speaker A: Pawning it out, but then they keep back for themselves just a little bit, make tequila. And that's how we met. They were part of our club. We became really good friends. But they've got a lot. And so we can grow into it and it's still all going to be the exact same quality, same farm. Eventually we can. I think we can produce 100,000 cases a year. If we were to take all of their agaves, they didn't sell any, which would be. I mean, was that true for them? What's that?
Speaker B: What would that translate to? Like, revenue for a business guy who doesn't know what 100,000 cases would be. Oh, how many bottles are in a case?
Speaker A: It'd be, uh, 12 bottles in a. In a case. Okay. So ours, our cases are six bottle cases, but two of them equals a real. A real case.
Speaker B: 2,000 bucks a case.
Speaker A: Uh, yeah.
Speaker B: If I wanted to buy a case. 2K. Ish.
Speaker A: Yep.
Speaker B: Okay. Yeah. So good revenue.
Speaker A: Yeah.
Speaker B: Great. Yeah.
Speaker A: So 100,000 of those, you're doing.
Speaker B: You're doing pretty well.
Speaker A: You're doing okay. Yeah, I approve. And so the growth model for us was never even to get to a place of a hundred thousand cases a year. I think to even keep the boutique nature of making a really, really good product and being involved in all the steps the way that we want to, I think 50,000 cases a year, that it would be enough to share this product with people and really dive deep, but also not to where we're just.
Speaker B: Well, I encourage you, if you want to stay boutique, to soon increase the price just a little. Fair. And I'm not saying that because I'm trying to be like there is a. When you are not part of the equation, there is a perception of cost for some Reason in the American consumer, I think it's stupid because the coach bag cost $47 to make. They figured that out in the Prada bag and they just put a little product on it. And you pay three. We pay three grand for it. Five grand for it.
Speaker A: Yeah.
Speaker B: It's a $47 bag. So, um, if you want to keep boutique and you don't want to go mass scale. If you want to go mass scale, the cheaper the price, the better. Because you want to share with the world.
Speaker A: Right.
Speaker B: Um, but it's harder to raise your prices tomorrow than it is when you launch. Yeah. It doesn't have to raise a lot. Or maybe you advertise and promote that. It's 135 bucks a bottle, right?
Speaker A: Yep.
Speaker B: But it's 140 bucks. But $5 is going to go to maintain that local farming and you actually give it back to them.
Speaker A: Yeah.
Speaker B: Do like the.
Speaker A: The give back.
Speaker B: Yeah. But, ah, you support the farmers that are supporting you 100% and you support the lifestyle and the approach to farming that you are already leaning into and you're charging me for. But you know what you're doing? You are giving that back. So you are supporting the region to allow them to continue to scale and grow with you.
Speaker A: Yeah.
Speaker B: My two cents.
Speaker A: Beautiful. And it's your five bucks.
Speaker B: Exactly. I'm in for 140 for a bottle.
Speaker A: Let's go.
Speaker B: My five bucks can go to.
Speaker A: Yeah, give me an extra five bucks.
Speaker B: Done.
Speaker A: That's the. That's the money move right there. Love that.
Speaker B: Yeah.
Speaker A: Hex the product still.
Speaker B: Because it doesn't mean it has to go in your pocket. Doesn't mean you have to be, like, greedy about it. No, but there's so many things that I didn't realize when I started importing acai, uh, and how I built that side of the business that if I could go back, I would have been much more cognizant of, which is, as you scale and they realize that you are taking more of their product, they want to grow with you.
Speaker A: Totally. Yeah. I mean, we are partners with this family, so.
Speaker B: So support them now.
Speaker A: Thousand. Right.
Speaker B: Like, we do it with bracelets.
Speaker A: That's cool.
Speaker B: We have locals make us our acai seed bracelets.
Speaker A: Yeah.
Speaker B: And we sell them for like, four bucks in our stores just to move them so we can buy them.
Speaker A: Yep.
Speaker B: Um, because it sends kids to school and we were trying to support the region instead of just be pilchering from, you know, I don't want to just be the American gringo who comes down and takes some valuable thing that they have and then go sell it in my country for too much money. That's not right.
Speaker A: Yeah.
Speaker B: Right. So I think that there's a huge opportunity to give in.
Speaker A: Huge.
Speaker B: Yeah.
Speaker A: Yeah. I mean, there was a company that sold recently, and. And they were making tequila, and they sold for over a billion dollars. And we've talked to people in the region, and they're like, yeah, uh, that money didn't end up here, right?
Speaker B: No, it never does.
Speaker A: And that's the crazy thing. And so the beauty of even us partnering with this family is we're not. We're not beating them down on the price so that we can make a profit.
Speaker B: We're like, make a profit.
Speaker A: We're making a profit for sure.
Speaker B: Okay.
Speaker A: But we're also, like. We want them to make a profit.
Speaker B: Yeah.
Speaker A: We're like, you know, the whole happy wife, happy life. I mean, that. That translates business and everything, you know, like, make sure everybody's winning. Yes, I want. I want to win across the board. And if I can sleep at night with that.
Speaker B: Yes. And you have to make money, too.
Speaker A: Thousand percent.
Speaker B: And it's not right if you don't. Yeah, right.
Speaker A: That would be a terrible business plan.
Speaker B: Well, it's also. You're going to burn out, and then we're going to lose this great tequila. So you got to get fed.
Speaker A: Yep.
Speaker B: The farmers got to get fed. I love it. So what is the. Maybe you haven't thought of it yet, but what is something you're going to do to really put this product on the map? Have you considered anything yet?
Speaker A: Yeah, I mean, we've got. We've got some fun, like, PR stunts and things like that, but really the biggest part for us to put it on the map is to get people drinking it. Because when people try it, just like how you had said, like, you know,
Speaker B: that's not as easy to do.
Speaker A: It's not as easy.
Speaker B: That's because you can't be like, samples at Costco giving out shots of tequila.
Speaker A: No, no. And that's why some. You know, again, we're not. We're not a celebrity brand, and we're not going down that road. But. But when you're endorsed by celebrities, maybe. So, I mean, the thing is, is that celebrities that have tried it.
Speaker B: Yep.
Speaker A: They go, wow, this incredible. They. They talk about it. It helps grow, but it's. It's much more organic that way. And actually, that's the way that I want it, because I don't want someone saying, like, I drink your tequila. Because it was made by a celebrity. Because celebrities don't. You know, what. What do you have to do with Jalisco and tequila?
Speaker B: Nothing.
Speaker A: But it's like. No, I. I drink it because a celebrity I like also drinks it. They're not. They're not getting paid to drink it. They actually enjoy doing it.
Speaker B: Yeah.
Speaker A: So, I mean, again, not that celebrities move. Move the needle for everything, but they bring eyeballs. They bring eyeballs, exactly.
Speaker B: It's.
Speaker A: It's awareness to. To what we're doing.
Speaker B: It's surprising, though, they don't ring the cash register as much as you think.
Speaker A: Not even. Yeah, it's wild.
Speaker B: Micro influencers do that. And by that, I mean someone who's just like the mayor of their little community.
Speaker A: Yep.
Speaker B: They will ring the register for you.
Speaker A: Yeah.
Speaker B: If they get an endorser.
Speaker A: We always say that. It's the micro influence. You got a thousand followers.
Speaker B: Yeah.
Speaker A: When you post something, you've got a bunch of people are actually following you and engaged with what you're doing. You have 10 million followers.
Speaker B: Like, I have this figured out.
Speaker A: Oh, tell me.
Speaker B: I have a solution for you. Some friends of mine own a chain of Mexican restaurants, and they are home of the $29 fish taco. We do a. We drink tequila and eat fish tacos partnership. Someone buys it, they get a bottle of your tequila and X number of fish tacos. And we bring communities together to eat fish tacos and drink tequila and support two great San Diego families and community and products.
Speaker A: I love it. I mean, I love fish tacos.
Speaker B: Give you five bucks to go feed or go support locals in Mexico.
Speaker A: Deal.
Speaker B: Done.
Speaker A: Let's go.
Speaker B: Okay, Jack, I'm gonna give you a call. Jack, he's the owner of the Mexican restaurant. Yeah.
Speaker A: Love it.
Speaker B: Yeah, I can do that.
Speaker A: I love fish tacos.
Speaker B: And I think it's. What's more San Diego than that?
Speaker A: Nothing.
Speaker B: If Ralph was still involved with Rubio's, I would say Rubio's.
Speaker A: Yeah.
Speaker B: And Ralph's a great guy.
Speaker A: Yeah.
Speaker B: Um, but he's not.
Speaker A: I've. I've eaten thousand Rubio's fish tacos.
Speaker B: I mean, like, let's go say.
Speaker A: Yeah.
Speaker B: This is what I love about this. We need more. San Diego wins.
Speaker A: Yes. Oh, that's. So what's really cool about the support we've gotten from so many people is when we say our. This is our home. We're focused on San Diego.
Speaker B: We're.
Speaker A: We're not trying to, you know, grow this around the world right now. This is where we want to be yet Yet. Yet. But this is where we want to be right now.
Speaker B: Yeah. We got to take care of San Diego. But you got to go spread the world to the world.
Speaker A: We will.
Speaker B: Because that's going to put San Diego on the map.
Speaker A: Yeah.
Speaker B: Yes.
Speaker A: But you start with your people.
Speaker B: Yes.
Speaker A: And then you build out and.
Speaker B: Sorry. La. San Diego's better. What did I just say?
Speaker A: That's. Yeah. I will either agree on this,
Speaker B: but go Lakers. Uh, didn't bear. We don't have a team. Yeah.
Speaker A: I'm warriors, so.
Speaker B: Oh.
Speaker A: I was born and raised in the Bay.
Speaker B: Still. Were you before Steph.
Speaker A: I.
Speaker B: We had seen 20 kids growing up.
Speaker A: TMC.
Speaker B: Okay. Yeah. That's actually a fun.
Speaker A: Got it tattooed on my arm.
Speaker B: Richardson.
Speaker A: Mitch. Mitch Richardson.
Speaker B: No, no. Jason Richardson with the dog.
Speaker A: Jason. Yeah, yeah.
Speaker B: Sorry.
Speaker A: Yeah, yeah.
Speaker B: My great team. One of my best friends from college is from the Bay. He's a die hard warriors fan. Since 2001 when we met. We've been having this battle. Duh.
Speaker A: And you're Lakers through and through.
Speaker B: Of course.
Speaker A: Yeah.
Speaker B: I grew up with Magic Johnson. Yeah.
Speaker A: I mean here's the crazy thing.
Speaker B: Magic.
Speaker A: I love the Lakers too. And you're allowed to.
Speaker B: Yeah. Because it's the Lakers.
Speaker A: The Lakers are synonymous with basketball, but
Speaker B: they're synonymous with greatness.
Speaker A: Yeah. And have you seen Winning Time?
Speaker B: Of course. Fun move. Fun show.
Speaker A: Fun show.
Speaker B: Now I am. I will end. Before we end this thing, I will tell you I am dealing with a major dilemma and it proves that I put business over. I put people in business over my childhood. M. And I don't know if I feel great about it, but then I do. And this is to your point of how you started this by saying it's people. I despise the Celtics. Jason Tatum's one of my partners.
Speaker A: Wow.
Speaker B: He owns Everbowls. He's an investor. He's one of the greatest human beings that I've done business with in my life. One of the absolute greatest.
Speaker A: That's incredible.
Speaker B: I can't not root for the Celtics. And it's not because of the money. It's because of the guy. Because I have other athletes that I don't care about their team one drop. Because they're contract athletes.
Speaker A: Yeah.
Speaker B: Jason is not a contract athlete. He is a guy that when he does something, he does it. And he goes above and beyond in ways that you will see very soon that have been incredible. And he is that dude. And if he's a Celtic, then how do I not root for the Celtics? And it has been killing me. It's Part of you have no idea.
Speaker A: Yeah.
Speaker B: Like, I hate three things in life. One of them used to be the Celtics, cilantro, and the Dodgers.
Speaker A: Cilantro.
Speaker B: It tastes like soap to me. It's genetics.
Speaker A: Yeah.
Speaker B: I like it.
Speaker A: Yeah.
Speaker B: I like salsa. I like. I love Mexican food in.
Speaker A: In South America. That's why they put parsley. I can eat parsley in things because the apparently, like, cilantro tastes like this. Like a stink bug there. And so their brains are wired not to eat it.
Speaker B: It's genetic. I did the 23andMe thing years ago, and it said, you don't like cilantro. And I'm like, you're right.
Speaker A: It's fascinating.
Speaker B: Uh, I can't eat it. It, like, ruins a dish that is wild. And the Dodgers ruin everything.
Speaker A: I mean, that's more acceptable.
Speaker B: Yeah. And now I got to say that this is proving even more. I used to always say people over everything.
Speaker A: Yeah.
Speaker B: And now I have to, like, eat my own dog food a little bit on something that is really emotionally hard for me. And it's true, because I will be watching Jason play and not even thinking about it subconsciously. I'm rooting for the freaking Celtics.
Speaker A: Want him to win. Yeah.
Speaker B: I'm like. I told my wife. I'm like, uh, my young me would look at me like I am a traitor.
Speaker A: Yeah.
Speaker B: And I have. He sent me his jersey. It's going on my wall because of him.
Speaker A: Right. But that's the beauty of people first. That is people.
Speaker B: And that goes to show you that even anyone who really knows me knows, like, for me to say that, especially on a camera is.
Speaker A: Yeah, this is. I'm sure it's going to get edited out.
Speaker B: Of course it is. Andrew. You're cutting this whole thing. It's never going anywhere. He is that cool of a human being that I need to and want to. And I am obligated as a person who loves good people to support everything he does. And as long as he's wearing a set now, if he wants to be join the Lakers, you know, then Celtics are done to. You could have had him. Which is even the worst part.
Speaker A: Yeah.
Speaker B: Goes to show you why bad. A bad operator can ruin a great product. Lakers after Jerry Buss, when Jeannie's brothers were running the fricking team. Uh, is the greatest example of what we started as well, which is you can give the best product in the world. The Lakers, Showtime, L.A. every celebrity, the biggest names in the biggest pocketbook. And the league basically cheats for us.
Speaker A: And they were winning Forever. Yes.
Speaker B: And you can blow it. So that is why when I started this thing and why I said about you is I have. I know that this is going to be a huge hit. And that's why I'm, uh, excited to have met you today, man.
Speaker A: Thank you.
Speaker B: This is cool. I feel like I could just sit here and rap with you all day. I don't even know if you. We did the normal show, but you're good people, man.
Speaker A: I'm here. Yeah.
Speaker B: Yeah. So if you're in San Diego, buy this bottle. If you're not in San Diego, I don't know if you can ship this bottle.
Speaker A: Yeah, we can. Yeah. So if you go to Babemos Tequila.
Speaker B: Okay.
Speaker A: We can ship it anywhere in the country. In the. Well, 33. Yeah.
Speaker B: Pick up some of those weird stuff.
Speaker A: Yeah, some. Some weird stuff.
Speaker B: But, like, Alaska. You can't probably do it.
Speaker A: No. But for the most part, we can ship it to you in Tennessee. We can't. And really weird. Yeah.
Speaker B: Tennessee.
Speaker A: Yep.
Speaker B: They like all booze.
Speaker A: Yeah. But they want to keep it in. Yeah. They want you to sell to their distributor, to sell to their people.
Speaker B: So I used to play in this poker, uh, league with a bunch of guys in San Diego, and one of them was an importer. He would set up a very small little room office in a state and then deliver it to himself, so then he could distribute it in the state. Now, I don't know if that's our legal loophole. I don't know if that's.
Speaker A: Don't say his name just in case.
Speaker B: Of course not. His name is not Carmen Sandiego. Um, it does align with. No. Uh, but if that works, you may explore that, because you could probably find somebody or I can introduce you somebody who has, like, a room to rent, and then you could bring it there. So that way people in the state of Tennessee who are listening to this today can.
Speaker A: They need it.
Speaker B: We do.
Speaker A: Yeah.
Speaker B: This is really good. And you've probably watched some of my episodes. I don't usually care about much alcohol. Like, there's a few whiskey companies I really like, and, uh, State Line is one of them.
Speaker A: Yeah.
Speaker B: And, uh, I am actually very impressed with your tequila, dude.
Speaker A: Thank you.
Speaker B: Like, when Teresa said to do this thing, of course I wanted to meet you as a person.
Speaker A: Yeah.
Speaker B: And she said you were awesome. So I was like, absolutely. I want him on my show. I want to meet him. I thought, okay, we're going to have a little minute about tequila. We're going to talk about something else because we can't everybody can start a tequila company. But it is really good.
Speaker A: Thank you.
Speaker B: And, uh, I'm not even that drunk yet. Like, I've only had like a shot or two. But you're gonna owe me a shot because you're gonna show me $300,000 home in, in Italy with a, uh, pool in. Four bedrooms, four baths.
Speaker A: Second that. Camera closes.
Speaker B: Okay.
Speaker A: Are you ready for that fire? Oh, yeah. Oh, yeah.
Speaker B: Now you gotta stare in the camera. One ready. 30 second answers. What's one principle you wish you'd known at 25?
Speaker A: Uh, invest in real estate. More.
Speaker B: What's your non negotiable quality in every hire?
Speaker A: Um, honesty.
Speaker B: What's your first question when evaluating any new opportunity?
Speaker A: Uh, is this good for everybody?
Speaker B: Would you want your children to be entrepreneurs?
Speaker A: Absolutely.
Speaker B: Both.
Speaker A: Both of them. Oh, for sure.
Speaker B: If you couldn't be an entrepreneur, what would you be doing?
Speaker A: Farming.
Speaker B: Wow. What would you be farming?
Speaker A: Probably grapes.
Speaker B: So wine. Wine. Wine.
Speaker A: Yeah.
Speaker B: Because you're from Napa Valley.
Speaker A: Yep.
Speaker B: Okay.
Speaker A: I grew up on a farm.
Speaker B: Who's your favorite baseball team?
Speaker A: San Francisco Giants. Padres. Number two.
Speaker B: We're so. There's no, you can't do that. You can. You can't. You really can't. Like, I did that with the Chargers and Raiders for many years because I'm a Raiders fan. It wasn't real. Uh, you don't really like the Padres, but I do. You just say that because you're here.
Speaker A: I. I love the Padres when they're not playing the Giants.
Speaker B: Yeah. We just swept you too, by the way. And my president at Everbowl is a Giants fan. Giants. Last time I know. He owes me dinner because we whooped your ass two games in a row. The little two game series. Yep. Um, you know, here's the thing about San Diego, and this is the real thing about San Diego. We're the only major city to never have a professional sports championship of any kind.
Speaker A: It kills me.
Speaker B: It kills you? It kills me. I was born here.
Speaker A: Yeah.
Speaker B: I've been a Padres fan for 42 years. I used to sell peanuts and Cracker Jacks at. At Jack Murphy Stadium.
Speaker A: You really?
Speaker B: I really did.
Speaker A: That's awesome. I. I would have loved to have done that as a kid.
Speaker B: Yes. And I grew up with Chris Urbano, whose grandfather was Jerry Coleman, and Ted Leitner's son, Jordan went to high school with me as well. So we would play Little League and Ted Leitner would sometimes be there and the play by play for the Padres. And Jerry Coleman never really showed up, but we met him A few times we got to shag balls on the field. So, like the play by play announcers. Tony Gwynn, his son, grew up with us playing baseball. Tony. Mr. Padre, Mr. Sandeo, Trevor Hoffman. I mean, legends never won a world Series.
Speaker A: Makes no sense.
Speaker B: Makes just freaking Yankees. They. They stole it from us.
Speaker A: Ten stripes.
Speaker B: You're not a Yankees fan, are you?
Speaker A: No, not at all.
Speaker B: Giants. You hate the Dodgers.
Speaker A: Absolutely.
Speaker B: We're back. Yeah, you heard it there.
Speaker A: So all fans can come together on right there.
Speaker B: Yes. So last question or last thing to say? Where can they get involved with this tequila? And what do you want them to take away from this episode?
Speaker A: Yeah, so San Diego bars, restaurants. If it's not in your favorite one, ask for it, because we're. We're working our way through. Um, and then you can buy it online@bamos tequila.com. what I want people to get from this is that when. When someone takes time to make something right, it's worth. It's worth trying.
Speaker B: That's a great answer.
Speaker A: Yeah.
Speaker B: Thanks, dude. Thank you, man. Thank you for coming and sharing your story with. With the audience and. And actually you, because I think there's a lot to learn about success and how you're approaching business, how you have approached business, how you approach life. Um, we are going to know a lot of the same people I know once we get out of this thing and we open the phones. It's just driving me nuts.
Speaker A: But it's got to be. At least one has to.
Speaker B: Well, there is one. I mean, Theresa and Jeff.
Speaker A: And Jeff. Yeah. Okay.
Speaker B: Um, it's two. Yeah. There's more. True, true. But there's got to be more. You've been here this long.
Speaker A: Yeah.
Speaker B: And we're basically neighbors.
Speaker A: 26 years. Yeah. Yeah.
Speaker B: Anyway, thank you again. Dude, this is awesome. I know you have to be, because you got to go sell some booze.
Speaker A: It's time.
Speaker B: You got to get people drunk. That's right. And I got to sling some bowls.
Speaker A: Properly buzzed.
Speaker B: I got to go get superfoods.
Speaker A: Bring a bottle.
Speaker B: I'm buying it.
Speaker A: Yeah, Pair as well.
Speaker B: I want the. The full kit.
Speaker A: Oh, yeah, I'm bringing it.
Speaker B: Okay. You tell me how I do it.
Speaker A: I'll just bring it by.
Speaker B: Okay. Done. Easy. You heard it here. Thank you, Preston. This was awesome.
Speaker A: Thank you so much.
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