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

<p>How would you run your business differently if you started with the end in mind?</p><p>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.</p><p><strong>Bonnie Harvey</strong> and <strong>Michael Houlihan</strong> 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.)</p><p>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.</p><p>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.</p><p>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!</p><p><br></p><p><strong>In This Episode We Cover:</strong></p><ul><li>Barefoot’s (crazy!) <strong>origin story</strong></li><li>The one-sentence piece of advice that guided <strong>their launch</strong></li><li>Identifying <strong>a hidden opportunity</strong> in a competitive market</li><li>How to design an <strong>iconic logo</strong></li><li>Why your <strong>market</strong> is more crucial than your product</li><li>Avoiding the <strong>unnecessary</strong> <strong>expenses</strong> that kill most businesses</li><li>How “<strong>worthy cause marketing</strong>” transformed their customers into advocates</li><li>How to take <strong>other brands' followers</strong></li><li>The importance of ensuring your <strong>product display</strong> is correct</li><li>How to think about <strong>what retailers want</strong></li><li><strong>Preparing to sell</strong> a business</li><li>Using <strong>narrative storytellin