When you make and/or sell wine for a living, you accept the fact that you most likely will need to submit your products to wine publications, competitions, newspapers and bloggers for review. You don’t have to submit your wines to these entities. There is no statutory law that says you have to submit your wines for review. There is a much larger law at work…the LAW OF THE MARKET.Read More
I noticed about 10 years ago, most of the people in the office were younger than me. Then, year after year I began to notice many of the people in the office, and people I was dealing with outside the office were about the same age as my boys. It suddenly dawned on me…I had become the “old guy” in the office.Read More
For the past 10-15 years anyone who sells consumer products has talked about the Millennials. My three sons are part of this huge demographic group that represents the spawn of the Baby Boomer generation. Now this Millennial generation is coming of “consumption” age. Generally they are doing it later than my generation did. They stay in school longer, marry later and start having kids in their 30’s. To date, Millennials are a mysterious group when it comes to consumption.Read More
E mail is a wonderful communication tool for “numbers” and “fact based memos” (just the facts, ma'am). It has made efficiencies in the workplace possible over the past 20 plus years. It has eliminated the need for most formal business letters. However, email has a dark side. A really dark side. I call it c-mail. The "c" stands for cowardice and confusion.Read More
The nerve center of every company I have ever been involved with is the accounts payable department. You probably would have expected Sales, Marketing, Merchandising, Human Resources, etc... Your last choice was probably the lowly accounts payable department. I mean, all they do is push paper and pay bills, right?Read More
People who start companies are not “normal.” They start companies for a variety of reasons. Some are successful at it, and some are not. There is a segment of these people that I refer to as “miners.” It’s a term I made up years ago to try to explain the behavior I have witnessed and/or read about by people who start and (to the benefit and detriment of the company) stay involved in running the operations and interacting with the employees of the company.
I have often wondered why wine isn’t as fun as spirits and beer. For example, let’s compare the advertising for spirits and beer to wine (if you can find any advertising for wine). If you watch TV, read or attend events you will find spirits and beer advertising portraying pool parties, football/basketball/baseball games, bonfires on the beach, big houses, “keggers”, vacations, Jägermeister girls, Jello shots, Rat Pack, Moscow Mules, music festivals, happy hour…and on and on and on.
At some point in a company’s life cycle, outside investments may need to be considered to fund growth that regular bank debt financing can’t support and/or provide liquidity to original investors and owners. When that time comes, chances are you will have to make a “pitch” to a private equity firm.Read More
Most people outside (and some inside) the wine business have a romanticized view of what this business is all about. Most things look different when you are an audience member. Once you go behind the curtain, you can become extremely disillusioned by what you see. So if you love wine….. STOP READING NOW! KEEP BELIEVING IN UNICORNS!Read More
Whatever business I have been involved with, and God (and my long suffering wife) knows there have been many…CPA, woman’s apparel, consumer electronics, haircuts, candles, wine….all the successful ones had one thing in common. Each had a unique business proposition and a strategy. They offered something new or a new entree to the marketplace.Read More