Start-up | The Barefoot Spirit

5 Ways to Tell if You’re Persistent or Stuck in a Rut

Michael Houlihan & Bonnie Harvey — Mon, 05 Mar 2018 20:16:43 +0000

Most successful startup founders will tell you that it’s going to take a lot of tenacity to succeed.

They will all generally tell you that persistence is the better part of valor when it comes to winning. We agree. It takes a great degree of resolve and patience to see the results you are looking for.

Sometimes you must persevere against the odds, struggle along until the time is right, and hold out for that big break. Perhaps the market will change, the buyer will change, or finally the amount of time you put in begins to result in traction.

Getting things started is difficult enough, but what about getting something new started, something the market hasn’t seen before or doesn’t know it needs?

To read the complete article, please visit The Business Journals

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.

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Preoccupation with the Launch Can Sink Your Entrepreneur Ship

Michael Houlihan & Bonnie Harvey — Thu, 05 May 2016 17:00:25 +0000

Just because you launched your business don’t think that’s the key to success. The Spanish launched 1,000 ships … and they all sunk in a storm! So what exactly does success look like? If you’re a ship, it’s getting safely in to port. But where’s port? And how do you get there? How do you avoid the icebergs, storms, rough seas, and pirates? And how do you keep from running aground? The answers are navigational skills. Sure, you need a sturdy ship, but success on the high seas of commerce has more to do with captaincy than shipbuilding, and it has very little to do with launching.

Today we are constantly bombarded with stories of the new business that launched this week. There’s the press release, the launch, launch party, and even the launch lunch! Seems like everyone in the startup world is always celebrating. We don’t know why. Their concept has yet to be proven. The market has yet to accept them. They are a long way from positive cash flow. And their crew (staff) has yet to prove themselves seaworthy. The business plan is about ready to be scrapped for the cash flow plan. And no acquirer is in sight. What lie ahead are uncharted waters with many perils waiting to make themselves known. What’s all the celebrating about?

Are they celebrating the fact that they raised the capital to open the doors and stay open for a quarter or a year? This is a temporary fix. Sooner or later businesses must make more than it costs them to stay in business. Are they celebrating the creation of a business that promises to change the world? Promises are not bankable.

So what is the sober approach to a launch? We think apprehension, humility, and down right fear are some good starters. We think understanding the basic navigational skills are essential. We think starting small with a careful shake down cruise to knock out the bugs is crucial. Here’s our short list of business navigational questions that beg to be answered.

The Port. Why are you launching this business? Do you want to create a certain lifestyle? Do you want to build a legacy? Or do you want to monetize on your brand equity? If it’s monetization, who are the 3-5 potential acquirers and why do they want your business? How big does it have to be before you become an acquisition target? And how long will it take you to get there? This is the port your Entrepreneur Ship is headed for. You won’t do a good job of navigation until you know your destination. Where are you now and where are you going?

The Currents. What’s going on with the market? What are the trends in your space? Can you overcome the pushback from the gatekeepers? Are you agile enough to take advantage of opportunities as they present themselves? Can you change course quickly to avoid disaster and can you recognize favorable alternatives and have them buoy you along? Can you stay the course when you own staff begins to doubt you? Do you have a map and do you know how to get though the obstacles?

The Captaincy. Can you choose the right crew? Can you orient them, train them and inspire them? Can you engage and empower them to be their best? Can you create a team that can pull together to get through the rough seas ahead? Can you “sell” your decisions to your own people? What about your vendors? Are they strategic allies? Will they watch your back? Are you willing to learn, improve, and not make the same mistake twice? Are you a leader? Can you make the tough decisions? When you have a bold new idea, will you be able to captain your shipmates, or will they move towards mutiny?

The answer to these questions and much more are waiting for you, not in the classroom, but in the board room. They are not coming to you from a professor, but from seasoned, and successful business navigators who have actually done it. We have experienced firsthand what you are about to. You can learn by our mistakes, see them coming on your own horizon, and successfully navigate around them. It cost us plenty, but it can save you time and money. Before you launch your entrepreneur ship, get the admiralty skill and experience to bring you safely to port from folks who have successfully navigated the rough waters. Don’t wind up like one of the ships in the Spanish Armada!

Who We Are

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

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Discover Your Strengths and Weaknesses Before You Start Your Business

Michael Houlihan & Bonnie Harvey — Fri, 11 May 2012 01:21:00 +0000

The right business for you is a combination of opportunity, preparation and resources. It’s more of a discovery than a choice. You will not have the world of all possibilities to choose from, but if you analyze your strengths and weaknesses, you can identify the opportunities that are plausible.

The key to success is to understand what you have an abundance of and what you need more of. We all have a tendency to think we can do more that we actually can. This is why we recommend working with a third party who knows you very well. It will be harder to make claims knowing you are being held accountable.

Have your friend ask you these basic questions to better understand your capacities:

1. Time: How much time are you able to commit to your new venture? Do you have or plan to have children? Are you accustomed to taking vacations and long weekends? Do you have commitments to others, annual family reunions, or a significant other who wants your company on trips? How many days can you commit to working in a year? How many hours a day? Do you have regular appointments, kids to pick up, chores to accomplish and so on?

2. Money: Start-ups eat money. Even though your goal is to attain cash flow quickly, you still should know what your limitations are. What are your savings? What are your credit card limits? What is your credit status? Can you raise private capital? Will your family help? Can you get a loan? Can you trade goods and services in lieu of having to buy them? How long will it take your new business to pay its bills, and can you or others bridge that gap? Now, multiply your anticipated needs by two or more!

3. Skill Set: Education is not just the kind you get in school; it’s also the experience you have attained during your career. What do you excel at? How do you handle stress? Can you do what you do well and delegate the rest to others? Are you experienced at hiring and training? Most businesses come down to personnel management and some form of distribution management. Can you take advice? Are you willing to take a smaller piece of a bigger pie?

4. Connections: Who you know is often more important than what you know. List anyone connected with the business you are considering. Who, from your past, can help you? Take a close look at your contacts, past jobs, and friends.

5. Location: Where are you living now? Are you willing to move? How much and how often are you willing to travel? Some start-ups require a lot of travel. Certain mercantile and service businesses nail you down to one location permanently. Are your ready for that?

Once you can look your friend in the eye and honestly answer these questions, compare them to the opportunities you are considering. Thoroughly research each opportunity to identify what is required initially and in the long run, using your honest evaluation in each of the areas above.

Even if you discover the opportunity is not right for you, going though this process can help you understand the difference between what you want and what you need.

Who We Are

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

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Entrepreneurship – Past, Present, Future

Michael Houlihan & Bonnie Harvey — Tue, 21 Feb 2012 20:41:41 +0000

Title: Entrepreneurship Past, Present, Future
Location: Palo Alto, CA (Pillsbury Winthrop Shaw Pittman)
Description: Michael will be sharing valuable knowledge and experience to MBA students as a panelist at this private event being held by the Ohio State University Center for Entrepreneurship. This event includes a panel discussion, audience Q & A session, and a reception afterwards.

Date: February 24, 2012 from 4:00pm to 5:30pm PST

Who We Are

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

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The Advantages of Being a Small Start-Up – Part 2

Michael Houlihan & Bonnie Harvey — Tue, 24 Jan 2012 03:35:06 +0000

This is the second installment in a four-part series designed to encourage small start-ups by recognizing some of their inherent advantages.

Small start-ups face a myriad of challenges. They are undercapitalized, unproven and have no market traction. They are up against the status quo that will use its established power and influence in the marketplace to suppress any new challengers. Buyers are reticent to take a risk on anything new or unproven.

The big boys have might and muscle, but there are still several advantages the little guys have that can move them ahead:

6. Being New. The small start-up has not yet established its direction and can turn on a dime. This advantage affects everything from plans to budgets, from design to being responsive to consumer feedback. Flexibility is a big advantage when it comes to satisfying your customer and improving your product. The big corps are well established with set ways of doing things that can bog them down.

7. Closer to the Ground. If you are the little guy, survival is dependent on having your ear to the ground and in most cases, your feet as well. Starting out requires a lot of hand-selling and “missionary” work. You are painfully aware of what needs to be done in the market place. Because it’s your company, you deal with your customers up close and personal on a daily basis. You can’t afford to be isolated and insulated. You don’t have MBAs and focus groups to rely on. You rely on yourself.

8. Faster Communication. Information can cross departmental lines easily in a small start-up. For one thing, there are fewer departments. For another, staying in business is more important than “going through channels,” which can be a maze of department heads, divisions, silos, and, if you’re lucky, ending with the intended recipient. The big company keeps order by installing informational gatekeepers. They can stop, change, or delay a critical message based on their perception of priorities, and, too often, job security.

9. Out-of-the-Box Thinking. Because the small companies are usually under financed, they are always scrambling for inexpensive and effective ideas to stay in business. This apparent financial hardship forces you to discover and employ unorthodox ideas, strategies, and tactics that the big guys wouldn’t dream of. They don’t have to. In a small company, cost-saving ideas, customer retention, and marketing concepts can come from anywhere. The big guys tend to want ideas to originate from their proper divisions, which can miss or kill some gems in an effort to defend precious turf.

10. Better Risk Tolerance. Just starting something new is a big risk, and most start-ups don’t make it. Because they are desperate to survive and have less at stake, they are more risk tolerant than the established companies. Small companies tend to tell their legal advisors what they want to do, then ask how to do it. The big guys are more risk adverse and tend to be guided by their legal advisors. Risk adversity can blind companies to new, unproven concepts.

So when you feel overwhelmed by big, established competition, remember that your flexibility and freshness can help you survive. The benefits of being a start-up give you the flexibility to grow and ultimately improve not only your own company, but also your industry.

Next time we will see how being an outsider, with enhanced concepts and simplified processes can have an advantage over an insider with simplified concepts and complicated processes.

Who We Are

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

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