Small Fortune Podcast

Jeremy Benson, founder of Benson Marketing Group, joins Carol to talk about what marketing can do for a winery or wine brand.  He describes some campaigns for clients on small budgets, how marketing supports sales, and the need to integrate brand messaging throughout your business.  He also shares his own story as an entrepreneur: why he chose to start his own marketing agency, as well as some challenges and rewards of business ownership.  Finally, Jeremy describes his firm’s important work, in concert with organizations such as Napa Valley Vintners and Family Winemakers of California, in leading the ”Free the Grapes” initiative.  After more than two decades of effort, most US states now allow wineries to ship directly to consumers.  Jeremy sold his agency to The Brand Leader in early 2023, and his team is now integrated into that company, expanding their service offerings and capabilities. 
https://bensonmarketing.com/#services
https://bensonmarketing.com/heres-how-wine-spirits-marketing-can-manage-a-recession/
https://freethegrapes.org/
Sponsor: Global Wine Partners https://www.globalwinebank.com/
Music: Nate Collison
Logo Photography: John Corcoran

Mark Freund was at First Republic Bank in May of 2023 when it succumbed to a banking panic that had taken down Silicon Valley Bank two months earlier.  As important lenders to the wine industry, the failure of these two banks had an immediate impact on business activity.  Fortunately, the contagion was quickly contained, SVB was acquired by First Citizens Bank and FRB was acquired by JP Morgan Chase.  Mark talks about his decision to return to SVB as Managing Director in its Wine Division.  Carol and Mark also discuss the role of banking in the wine industry, how to manage your banking relationship, and how to be successful in the wine business.
https://www.svb.com/industry-solutions/premium-wine-banking/
Sponsor: Global Wine Partners https://www.globalwinebank.com/
Music: Nate Collison
Logo Photography: John Corcoran

Every business owner or manager needs great attorney(s) on speed dial.  Nick Donovan, Partner at GVM Law LLP in Napa, California joins Carol to discuss a number of legal issues including business formation, raising equity and more.  He also shares his views on the keys to success as well as the risks in the wine industry.  Finally, undaunted by the challenges inherent in owning a wine company, Nick shares his story of creating a wine brand with NBA star Dwyane Wade.
https://gvmlaw.com/
https://www.dwadecellars.com/
Sponsor: Global Wine Partners https://www.globalwinebank.com/
Music: Nate Collison
Logo Photography: John Corcoran

Listen in to M&A advisor shop-talk, as Carol interviews Mario Zepponi, founder and principal of The Zepponi Group, a leading wine industry M&A advisory firm.  Carol and Mario talk about current market trends, what their favorite deals looked like, challenges in the wine industry, and why winery owners wanting to sell their companies should hire local.
The Zepponi Group:  https://www.zepponi.com/
Questions?  Comments?  smallfortunepodcast@gmail.com
Music: Nate Collison
Logo Photography: John Corcoran
 

Roy Cecchetti sold his successful wine company to O’Neill Vintners in 2014 with the help of Global Wine Partners.  In this interview, Roy comes out of retirement to talk to Carol about how he launched and grew his brand portfolio, which was selling several hundred thousand cases in the wholesale channel with only a skeleton crew (Roy + four salespeople) at the time of the transaction.  Roy discusses product development, building his distributor network (and how that network transitioned after the brand sale); creative promotional tactics, and more of the inventive ways he built his wine business. 
Roy’s contact information is: roy@cecchettiwineco.com
https://www.globalwinebank.com/category/small-fortune-podcasts/
Music: Nate Collison
Logo Photography: John Corcoran
 
 

Tony Correia is the preeminent real estate appraiser in the California wine industry.  Tony grew up in farming in the Fresno area and has worked in and around agriculture most of his career (except when he was a spy – we’ll cover that in another podcast).  Carol and Tony talk about his career and profession, but also about how the Federal Reserve rate hikes and problems at key industry lenders are affecting the market, from deal flow to, potentially, valuations (cue the dramatic music).
Hey Small Fortune Listeners, we have struggled with some audio problems that were hard to get a handle on, we believe we have largely solved the problems with Episode #5, this great talk with Tony Correia.  Smooth sailing (fingers crossed) from here on out.  We hope you’ll keep listening!
Here’s a good explainer on how “cap rates”, which Tony and Carol discuss, are used in real estate appraisals: 
https://www.jpmorgan.com/insights/real-estate/commercial-term-lending/cap-rates-explained
https://www.investopedia.com/terms/c/capitalizationrate.asp
For more information on Tony’s appraisal company:  https://correiaco.com/index.html
Credits:
Logo photography: John Corcoran
Music: Nate Collison
Questions? Comments? E-mail us at smallfortunepodcast@gmail.com
 
 

Sam Bilbro is a 4th generation winemaker and owner of the brand Idlewild which specializes in wines made from Piedmontese varieties grown in and around Northern Sonoma County.  Carol and Sam talk about the business case for these niche wines, as well as his thinking behind his retail Italian wine and food shop.  They also talk about the business lessons he learned from his father, Chris Bilbro, founder of Marietta Cellars.  Both Idlewild and Ciao Bruto are located in downtown Healdsburg.
Hey Small Fortune Listeners,  we have struggled with some audio problems that were hard to get a handle on, but we believe we have largely solved the problems beginning with Episode #5.   Great content in this interview #4 with Sam Bilbro.  We hope you’ll keep listening!
https://www.idlewildwines.com/
https://ciaobruto.com/
Credits:
Logo photography: John Corcoran
Music: Nate Collison
Questions? Comments? E-mail us at smallfortunepodcast@gmail.com
 

Carol talks with Tim Allen, founder and managing partner of the Allen Wine Group. AWG provides consulting CFO and accounting services to the wine industry.  Carol and Tim talk about the common mistakes that wine businesses make and how to manage them.  Tim also shares stories about winery transactions he's been involved with - Rosenblum and Kuleto - as well as how to get a wanna-be winery investor off the phone. 
https://allengroupllp.com/
https://www.globalwinebank.com/category/small-fortune-podcasts/
Logo photography: John Corcoran
Music: Nate Collison

Our first conversation is with Vic Motto, founder of both MKF, a top wine industry CPA firm, and Global Wine Partners, where Carol and Jaclyn both work.  Vic spent many years advising top companies in the industry from all over the world and with all types of business models, from Gallo to Screaming Eagle.  Vic talks about a number of keys to success in the industry, including the Top Priority for a winery owner or manager.  There are a number of luminaries who come up, from Koerner Rombauer to Ernie Gallo to Robert Mondavi.  Can you guess the famous joint venture Vic talks about between French and American wine companies?
Questions?  Comments?  smallfortunepodcast@gmail.com
Credits:
Logo photography John Corcoran
Music Nate Collison

Welcome to Small Fortune, a podcast about the business of wine. We discuss how difficult it is to be successful and why.  It’s also about the strategies that various participants in the industry have used to overcome the challenges inherent in making and selling wine.  And it is simply about telling the stories of the wine business.  The podcast is also about entrepreneurship more generally, so any small business owner might benefit from the ideas discussed in these conversations.
Questions or comments? Email us at smallfortunepodcast@gmail.com.
Credits:
Music: Nate Collison
Logo photography: John Corcoran