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Rich20Something

Daniel DiPiazza and friends talk about building businesses and living better.
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Now displaying: May, 2016
May 2, 2016

Michael Houlihan and Bonnie Harvey are the entrepreneur team behind the Barefoot Wine brand. While working as business consultants for a grape grower they tasked themselves with collecting a $300,000 debt. The client ended up paying them in wine. It was from that exchange that the inspiring story of how they triumphed by using worthy cause marketing and their alternative method to traditional advertising, came to be. They now share their lessons and their experiences on how to embrace the grind and how they prepared for success on day one in their New York Times best-selling books.

 

Key Takeaways:

[3:09] The challenges of building and distributing a tangible product from the ground up.

[12:15] How worthy cause marketing made the brand “Barefoot Wines” the household name it is today.

[29:07] The 3 core competencies of running a business are cash flow management, personnel management, and distribution management.

[33:32] Words of wisdom for young entrepreneurs who find themselves in the grind.

[39:55] How to make a mistake “write”!

[44:09] You have to prepare for success from day one.

[51:59] Barefoot Wines was scalable and it could run independently, which is what made them a target for an acquisition. 

[54:04] An entrepreneur has a different mindset than a sole proprietor or shopkeeper.

[59:09] The hustle is real.

 

Mentioned in This Episode:

The Barefoot Spirit

The Entrepreneur's GPS

The Brand Authority

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