Small Fortune Podcast

Jonjie Lockman caught the wine bug in her 30’s and decided to bring her passion for business operations to the industry when she joined Intervine in 2011.  Intervine provides wine as well as food and other beverage products to the airline industry.  A member of the “Association of Business Process Management Professionals”, Jonjie has an incredible drive for bringing effectiveness and efficiency to the complex effort of getting the right wines, to the right airports, at the right time.  Intervine is also an employee-owned company, and Carol asks Jonjie to talk about that process, since it is a model that some winery owners might consider when they are considering how to exit their businesses.

https://www.intervineinc.com/

https://www.investopedia.com/terms/e/esop.asp

Questions?  Comments?  [email protected]

Sponsor: Global Wine Partners https://www.globalwinebank.com/

Music: Nate Collison

Logo Photography: John Corcoran

This is the first interview of an Oregon wine producer for the Small Fortune Podcast!  Carol loves Oregon!  Alex’s parents, Bill Blosser and Susan Sokol-Blosser were risk-taking entrepreneurs and among the pioneers of Willamette Valley’s development as an important American wine-growing region.  Alex and GWP partner Carol cover a wide range of topics, including B Corporations, second labels, bankers and more.  A very lively discussion with a gentleman who grew up in the adventurous lifestyle of wine entrepreneurship.  Or as he characterizes it, the circus.

Mentioned in this episode:

https://sokolblosser.com/

IPNC:  https://ipnc.org/

B Corporations: https://www.investopedia.com/b-corp-7488828

Questions?  Comments?  [email protected]

Sponsor: Global Wine Partners https://www.globalwinebank.com/

Music: Nate Collison

Logo Photography: John Corcoran

Today’s interview is with Dave Del Dotto, founder and owner of four wineries in the Napa Valley under various “Del Dotto” monikers.  Dave is a natural salesman, having made his first fortune in real estate and infomercials.  Listen in to hear how a natural pitchman makes the case for drinking wine.  He and Carol discuss his success, including his approach to cultivating collector relationships and creating enduring experiences at his wineries.  The Kardashians, to Carol’s surprise, also make an appearance.  Although he has a very successful DTC program, Dave still sells a small portion of his production in wholesale channels. Food for thought.

Mentioned in this episode:

https://www.deldottovineyards.com/

https://www.peacocktv.com/watch-online/tv/keeping-up-with-the-kardashians/8311621267728768112/seasons/18/episodes/surprise-surprise-episode-5/ee8ea4c6-6a97-3532-a0b1-7e09c32aaa30

Questions?  Comments?  [email protected]

Sponsor: Global Wine Partners https://www.globalwinebank.com/

Music: Nate Collison

Logo Photography: John Corcoran

The remarkable thing to me (host Carol Collison) as a long-time advisor to business owners is how truly intentional and buttoned up Sean Minor is in his approach to entrepreneurship in the wine business.  He and his business partner and wife Nicole started their winery with a business plan based on identification of a very specific opportunity in the on-premise (restaurant) market and sailed through the terrible industry downturn in ’08 – ’10.  Although not covered in the conversation, of course being focused on-premise in 2020 was another story, however they’ve come through the pandemic and are growing through the last three quarters.  We talk about his approach to his start up, to changing the brand name several years into the business, to challenges he faced in financing growth, and now transitioning to the next generation.

Mentioned in this episode:

https://www.seanminorwines.com/

“Black Swan”: https://corporatefinanceinstitute.com/resources/economics/black-swan-event/

Negociant:  https://daily.sevenfifty.com/what-is-the-future-for-american-wine-negociants/

Questions?  Comments?  [email protected]

Sponsor: Global Wine Partners https://www.globalwinebank.com/

Music: Nate Collison

Logo Photography: John Corcoran

Andy Hoxsey’s family came to the Napa Valley in the early 20th century and through successive generations have farmed and sold grapes, as well as taken significant entrepreneurial risks.  Andy tells the story of his (and the Pelissa family’s) acquisition of Napa Wine Company in 1993, with the expressed intention of creating the first high-touch custom crush business, certainly in the Napa Valley but quite possibly in the world.  Napa Wine Co was where such brands as Pahlmeyer, Colgin and the star consulting winemaker Helen Turley incubated their brands.  On the podcast, Andy shares some interesting stories from his long history in the wine business. 

https://www.napawineco.com/

Questions?  Comments?  [email protected]

Sponsor: Global Wine Partners https://www.globalwinebank.com/

Music: Nate Collison

Logo Photography: John Corcoran

Carol invited successful Napa Valley Consulting Winemaker Jean Hoefliger to the Small Fortune Podcast to learn about what the job entails.  And finds out it isn’t just winemaking!  Jean and the team at JH Wine Consulting provide comprehensive business services to their clients.  Why?  Because as Jean says in this conversation, quoting his friend Michel Rolland, “Even billionaires get tired of losing money”.

Mentioned in this episode:

https://www.jhwineconsulting.com/

https://www.axrnapavalley.com/

https://www.thedebatewine.com/

https://www.forceandgracewines.com/

Questions?  Comments?  [email protected]

Sponsor: Global Wine Partners https://www.globalwinebank.com/

Music: Nate Collison

Logo Photography: John Corcoran

In today's episode Carol interviews Michelle Muth Ausburn, partner in a major accounting firm, BPM, LLP.  As fellow women in senior finance positions in the wine industry, Carol and Michelle have a lively conversation about why pursuing a career in accounting was attractive to Michelle, what she values in her professional relationships, and an important lessons she learned from her entrepreneur father.  Through the conversation Michelle demonstrates the high level of discretion and ethics that characterize the top performers in the fields of finance and accounting. 

Mentioned in this episode:

BPM:  https://www.bpm.com/

GAAP:  (Generally Accepted Accounting Principles) https://www.investopedia.com/terms/g/gaap.asp

LIFO: (Last In, First Out Inventory Accounting) https://corporatefinanceinstitute.com/resources/accounting/last-in-first-out-lifo/

Sponsor: Global Wine Partners

https://www.globalwinebank.com/

Music: Nate Collison

Logo Photography: John Corcoran

Fred Peterson is an American original and the most influential grape grower you may not have heard about.  From Mount Eden to Ridge Monte Bello, to Stagecoach and beyond, Fred has been involved with many iconic California vineyards. When he began his career in the wine industry in the 1970’s he worked with Riesling and Sylvaner in the Santa Cruz Mountains. Back then, the Napa Valley was planted primarily to Petite Sirah. Fred and Carol discuss the history of North Coast Grape growing, and Fred’s perspective on the future.  Instead of our traditional Small Fortune Intro, Carol’s business partner Mike Fisher, who went to UC Davis with Fred, makes an appearance.  In 1987 Fred founded Peterson Winery, based in Healdsburg, CA.  Today he and his son Jamie work together making classic Sonoma wines based on their “Zero Manipulation” approach from Fred’s Bradford Mountain vineyard and beyond.

https://www.petersonwinery.com/

Questions?  Comments?  [email protected]

Sponsor: Global Wine Partners https://www.globalwinebank.com/

Music: Nate Collison

Logo Photography: John Corcoran

Our interview with Russ Weis about his career as a senior manager in the wine industry (see Episode 12) took place on a day when an industry research firm (link below to their website) released data that showed a marked drop in winery shipments into the wholesale channel in 2023 (9% by value).  This has naturally grabbed everyone’s attention, and we didn’t have time to address it.  So, we recorded a second interview in which Russ shares many practical and also philosophical approaches to the challenge of managing wine sales in the wholesale markets.

Referenced in today’s episode:

https://www.bw166.com/blog/

https://wvmgmt.com/

Questions?  Comments?  [email protected]

Sponsor: Global Wine Partners https://www.globalwinebank.com/

Music: Nate Collison

Logo Photography: John Corcoran

Russ Weis is the President of Walsh Vineyards Management, a Napa-based farming services company. He joined Walsh after an 18-year run as President of Silverado Vineyards, and before that he worked for nearly ten years in senior management at Robert Mondavi Winery, during the go-go years of the ‘90’s.  Russ shares his experiences in the wine industry, beginning on his family farm in Madera County. He also answers Carol’s question:  what is the secret to longevity in senior management positions? Russ shares a concept he was taught early in his career which might be broadened to the more universal idea of “authenticity,” a way of thinking about how to choose the right company to work for, which has stood him in good stead and still does to this day.

Referenced in today's episode:

https://wvmgmt.com/

 Questions? Comments? [email protected]

Sponsor: Global Wine Partners https://www.globalwinebank.com/

Music: Nate Collison

Logo Photography: John Corcoran