Entrepreneur – Startups That Overlook the Cost of Sales … Fail!

You often see line items on business plans for the cost of goods sold, also known as COGS. Most startups are painfully aware of the cost of goods. But there is another cost that is even more painful if it’s overlooked. That is the cost of sales.

In today’s “scale fast and fail fast” world of entrepreneurship, it’s easy to scale fast and fail permanently when you don’t appreciate the true cost of sales. Part of the problem of scaling fast is that you can scale so fast that you actually make sales you can’t sustain.

Why? Because you inadvertently chose to make sales to a customer or in a territory with costs you can’t afford. But you didn’t know those costs when you made those sales. In fact, you were probably thrilled to make any sales and couldn’t wait to get back to your investors with the news!

To read the complete article, please visit Entrepreneur 

 

 

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.

To make inquiries for keynote speaking, trainings or consulting, please contact sales@thebarefootspirit.com.

Michael Houlihan & Bonnie Harvey

Starting in a laundry room with no money or industry knowledge, they built the iconic Best-Selling Barefoot Wine Brand - without advertising. In 2005, they monetized their brand equity and now offer proven business principles and real world experience. Visit our YouTube Channel →

Recent Posts

Thank you, Mississippi State University!

"We were truly honored to have hosted the founders of Barefoot Wine, Michael Houlihan and… Read More

4 days ago

Pioneers Have to Break the Ice but Are the First to Benefit…

As the founders of Barefoot Wine, Bonnie M. Harvey and I understood the challenges of… Read More

4 days ago

2024 Mississippi State University Entrepreneurship Summit

Bonnie and Michael were grateful to be judges at the 2024 Mississippi State University Entrepreneurship… Read More

4 days ago

Barefoot Wine Founders Host Nanyang Technopreneurs from Singapore

Michael and Bonnie shared their experiences in Entrepreneurship with Commonly Held Misconceptions, Extreme Weather Survival… Read More

2 years ago