Big prices vs. High prices: A novel pricing concept
by Ric Payne
Recently I posted a note on Principa’s Facebook page in which I strongly recommended a book called The Barefoot Spirit: How Hardship, Hustle, and Heart Built America’s #1 Wine Brand. This book is arguably the best book I have ever read that details the real life challenges that every business has in getting established and growing to a substantial size. It’s a biographical journey detailing the building of the wine brand Barefoot by two people who got into the business by accident simply to help a client recover a chunk of money that was owed to him and their only knowledge of wine when they started was it was something you drank.
The entrepreneurial lessons in this book are simply amazing and anyone who is in business or planning to launch a business would do well to read it with a notebook in hand because there are lessons on every page. It is a story how you can make something out of nothing. Some of the things they did was sheer genius, other accomplishments were the result of tenacious hard work. Scattered throughout the bokk are some amusing anecdotes with a strong lesson as well.
One of those lessons involved a pricing strategy that’s worth sharing.
One of the founders of Barefoot, Michael Houlihan, was accompanying his rep for New Jersey and they were visiting a town in the Atlantic Highlands. Michael had learned from experience that every business was a little bit different and created its own style. In this case he described the town they were visiting as one that “seemed to be living in the 1950′s.”
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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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