113 - The Wine Business: 5x Growth in a Tough but Fun Industry
Ah, the wine business. Like restaurants, it's one of those industries that exerts a romantic pull, but often then devours the entrepreneur. But not today's guest, David Page. David was fully aware of the pitfalls of the wine business, but during his search back in 2010 he came across one that occupied what he saw as a growing niche within the local wine industry and one with recurring revenue: vines management for the small private vineyards of Silicon Valley's elite. Talk about one of those businesses you'd never guess exists. Well, David bought that business as a first-time acquisition entrepreneur and in the intervening years has quintupled it and I gather had a lot of fun in the process. Aside from the fun angle to David's story, I want to highlight another point. David bought a really small business. Tiny team. The first month David is delivering wine to the back door of local grocery stores from his own car. He was really in the muck and bullets, as he says, but it's what he wanted. He expected to get in there, put his back into it, learn every corner of the business and figure out how to grow it. This goes against the exhortation you've heard a lot on this podcast that you need to acquire a business of a certain size so that day one you can be working on the business rather than in it. And while I certainly understand that, David's story is just the latest of many examples where the acquisition entrepreneur got in there, operated a small business and made it grow. See if that resonates with you after listening to this interview with David Page, owner of Post and Trellis.