January 2023 discussion with Ed Mysolgland of How to Sell a Business podcast. How wineries create value, what to look for in purchasing a winery and how to make a winery sales ready.
Before you dive into the business of making and selling wine, start with creating your winery vision statement. It’s critical for you to have a firm understanding of what you do, who you are and why you want to start a wine business. This starts with a vision for your winery. Start by answering theseContinue reading “Crafting the Winery Vision Statement”
My October Podcast conversation with Joe Lutomske I was fortunate to be able to chat with Joe Lutomske about going from engineering to wine making and to winery business consulting. We talk about the basics of how to start a winery, creating the experience, how to be profitable and make sales. We even fit roséContinue reading “How to Start a Winery With Enotools University”
Last year was the worst fire season on record for the west coast of the US. Fires in California, Oregon and Washington led to lost vintages, burned vineyards and smoke tainted wine. One estimate puts the loss at $3.7 billion for last year alone. But the real loss may not be seen for years asContinue reading “Guide for Preparing the Winery for Fire Season”
A common question from clients and prospective clients is: Where do I start? My suggestion is: Start with your vision. Deciding on the vision for your winery or winery business is the very first step in creating a successful company. So, what is it and how do you write it? The vision comes first BeforeContinue reading “What’s Your Vision?”
A strategic plan will help your company succeed and plan for the future. A Strategic Plan is a ten year financial plan that forecasts expenses and sales, and includes a Threats and Opportunities Assessment. When writing this plan, start with where you want to be in ten years.
Plan for the future by creating financial plans that enable you to grow your business, capitalize on opportunities and weather the threats.
Three reasons why you should write a business plan anyway.
1. Defines success.
2. Estimates costs and time.
3. Acknowledges risks and rewards.
Wineries are looking to discounts as a way of generating cash flow. But can discounts hurt the winery in the long run? Here are some ways to use discounts without damaging the integrity of brand pricing.
Is your business focused on a niche market? What does it mean and how do you do it? These ideas are explored in my post on Niche Marketing.