26: Fail Fast? No, Start Slow! Secrets from Building (and Exiting) the World’s Biggest Wine Brand with Michael Houlihan and Bonnie Harvey

How would you run your business differently if you started with the end in mind? Today’s show is all about forming your exit strategy up front… and there’s no one more qualified to talk about that than the co-founders of Barefoot Wine. Bonnie Harvey and Michael Houlihan weren’t even “wine people” when they went into business. Yet they found a way to outsell everyone else and eventually had giant companies competing to buy THEM. (They happily sold to Gallo in 2005.) In this episode, you’ll learn the strategies that drove their explosive growth and the way in which you can apply them—no matter your experience level. From the simple question that launched their business, to the pitfalls of “falling in love with your product,” to why every entrepreneur should meet business brokers for lunch once a month, this show is packed with practical, hard-won wisdom you can immediately implement. Download this one, subscribe to the BiggerPockets Business Podcast, and share this episode with just one person who you think you would get value out of it! In This Episode We Cover:Barefoot’s (crazy!) origin storyThe one-sentence piece of advice that guided their launchIdentifying a hidden opportunity in a competitive marketHow to design an iconic logoWhy your market is more crucial than your productAvoiding the unnecessary expenses that kill most businessesHow “worthy cause marketing” transformed their customers into advocatesHow to take other brands' followersThe importance of ensuring your product display is correctHow to think about what retailers wantPreparing to sell a businessUsing narrative storytelling to teach entrepreneurshipAnd SO much more! Links from the ShowBiggerPockets ForumsThe Barefoot Spirit Audiobook Listen on BiggerPockets: http://biggerpockets.com/bizshow26

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