Alex Doman, co-founder of AVEC, shares how he moved from consulting and business school into launching a consumer packaged goods brand focused on helping people drink better.

Alexander Doman is the co-founder of AVEC (at the time of this interview), a maker of canned drink mixers with healthier ingredients, including real juice, low or no added sugar, and natural botanicals. Before launching AVEC, Alex worked as a principal consultant at a boutique management consulting firm in London, where he advised consumer-facing businesses, including leading hospitality, food, and beverage brands.

While working on a project for one of the UK’s largest bar chains, Alex noticed a major gap in the drink mixer category. Consumers often had to choose between a delicious cocktail mixer loaded with sugar and preservatives, or a healthier option like soda water that lacked flavor. That frustration eventually became the foundation for AVEC.

In this episode of The How of Business, Henry Lopez talks with Alex about his path from history major to banking, consulting, business school, and eventually entrepreneurship. Alex shares how he evaluated business ideas, why he wanted a co-founder, how he met his co-founder Dee, and what it has taken to launch and grow a beverage brand.

Alex also explains the challenges of building a consumer packaged goods business, including product formulation, co-manufacturing, funding, distribution, pricing, and adapting when COVID disrupted the original go-to-market strategy. AVEC originally planned to focus heavily on wholesale and hospitality, but the pandemic forced the brand to shift toward direct-to-consumer online sales.

As Alex explains, “As an entrepreneur, you have to be open to a changing environment and changing circumstances… understand what’s going on, and take action.”

This conversation is especially helpful for small business owners and aspiring entrepreneurs interested in launching a physical product, entering the food and beverage space, working with a co-founder, or learning how to adapt when the original plan changes.

Alex Doman is currently President of Global Soda Affairs & Co-Founder at Stiller’s Soda, where he oversees what the company playfully describes as its “serious refreshment strategies,” including the Department of Cold Beverages and the Bureau of Roundness Integrity.

Topics Discussed

• Alexander Doman’s early career path from history degree to banking and consulting.
• Why Alex decided to pursue business school before launching a company.
• How he kept a spreadsheet of business ideas and eventually chose AVEC.
• Why he wanted a co-founder and how he met Dee at Columbia Business School.
• The importance and challenge of building a strong co-founder relationship.
• The opportunity Alex saw in the drink mixer category.
• How AVEC differentiates itself with real juice, lower sugar, and natural ingredients.
• The rise of non-alcoholic beverages and changing consumer drinking habits.
• How COVID forced AVEC to shift from wholesale to direct-to-consumer.
• The challenges of finding a co-manufacturer for a beverage product.
• Raising startup capital through friends, family, grants, competitions, and accelerators.
• Why pricing is higher for quality ingredients and sustainable product choices.
• The value of flexibility and continuous learning as an entrepreneur.