These days, it seems like most people believe that you can’t start a business without some sort of venture capital financing.
“Shark Tank,” Silicon Valley and most of the business publications on the market underscore this popular premise. In fact, the business plan is now viewed as an application for venture financing. The idea seems to be, come up with an idea and get it financed, and you are golden.
But you’re not. Far from it!
Now you have given up equity to raise capital that you can spend in ways that may not be necessary or effective. Now you have given yourself the false sense of security that because your plan got financing, it must be right. Now that you have secured a “runway” and “burn rate,” you attract service suppliers interested in grabbing some of that capital. They want to sell you goods and services you don’t necessarily need, including staff, facilities and other overhead with monthly bills hungry for your money. Have you made adequate sales to justify those expenditures?
So, now you have funded your company without thoroughly understanding the sales or growth process, especially the most often overlooked and underestimated expense: the cost of sales.
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Who We Are
Michael Houlihan and Bonnie Harvey co-authored the New York Times bestselling business book, The Barefoot Spirit: How Hardship, Hustle, and Heart Built America’s #1 Wine Brand. The book has been selected as recommended reading in the CEO Library for CEO Forum, the C-Suite Book Club, and numerous university classes on business and entrepreneurship. It chronicles their humble beginnings from the laundry room of a rented Sonoma County farmhouse to the board room of E&J Gallo, who ultimately acquired their brand and engaged them as brand consultants. Barefoot is now the world’s largest wine brand.
Beginning with virtually no money and no wine industry experience, they employed innovative ideas to overcome obstacles, create new markets and forge strategic alliances. They pioneered Worthy Cause Marketing and performance-based compensation. They built an internationally bestselling brand and received their industry’s “Hot Brand” award for several consecutive years.
They offer their Guiding Principles for Success (GPS) to help entrepreneurs become successful. Their book, The Entrepreneurial Culture: 23 Ways To Engage and Empower Your People, helps corporations maximize the value of their human resources.
Currently they travel the world leading workshops, trainings, & keynoting at business schools, corporations, conferences. They are regular media guests and contributors to international publications and professional journals. They are C-Suite Network Advisors & Contributing Editors. Visit their popular brand building site at www.consumerbrandbuilders.com.
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