Real Estate - 26 Unit Development in a high demand market

  

Large grain farm in Montana - 35,000 acres

  

Innovative Google Cloud Office Furniture Catalogs Specification for Architects & Interior Designers

  

Bison Zero to a Milllion

  

Loan

  

A multi-fold, vertically integrated esports company, with competitive social gaming at its core.

  

Buying small cap businesses (2-15m) rollup

  

Auxilia Seed Funding

  

Tire investment opportunity partnership

  

New Mobile App for Planning Events

  

Secured Bond against assets and trade receivables

  

Manufacturing Investment Opportunity

  

100k for 25% of company

  

Residential Development

  

Retired horses for veterans and first responders with PTSD

  

Real Estate - Quick Return

  

AHI Opportunities Fund - Agritech Real Estate

  

Be part of our International expansion, while owning part of a station!

  

Equity Ownership with Design Build Company

  

Money Service Business Investment Opportunity

  

Seeking Canadian Partnership for US ICW NC Hunt/fish retreat with seafood distribution

  

Private Power Generation, Transmission and Distribution of Natural Gas

  

Shares for sale in a Goldmine Development in Arizona

  

Real Estate

  

Integrated Facility Operations & Supply model in market tested (7yr) and ready for national launch.

  

Short term real estate investment with guaranteed return

  

Langley BC Cannabis - Summer 2019 Investment Proposal

  

Own part of renewable energy Anaerobic Digester in Canada with Excellent returns

  

Mining Expansion & Acquisition Opportunity

  

Short Term Real Estate Opportunity - Over 20 Years of Experience

  

Capital required to keep up with growth demands

  

EMPOWER WITH PRIME ITS JUST THE BEST

  

Real Estate 2-3 yr 60%+ ROI...Multiple opportunities per week

  

Village Specialized Education - Autism Focused Learning Tools

  

Investor/partner needed for business 'step-up'

  

Hubudub Ltd.

  

MyStory App

  

Roses Forever

  

Passive Homes built at 50% of cost that can sell for 20% more then any house. Done in 14 days on sit

  

Zollv a new way to watch videos online

  

 

Canadian Investment Network


Recent Blogs


Pitching Help Desk


Testimonials

"Thank you very much for the extra input with my Restaurant/Nightclub proposal. I already have a couple investors who are requesting more info, and that's less than 24hrs after submitting the proposal to you. I am very pleased."
Rodrick Agcaoili

 BLOG >> Recent

Don't Screw Up! [Entrepreneurship
Posted on September 21, 2016 @ 04:55:00 PM by Paul Meagher

I recently picked up a short book called Wine Faults (2010) that also contains some lessons for thinking about startups and business in general.

The book discusses a litany of flaws and faults that can occur when making wine. A flaw occurs when your particular style of wine does not live up the expectations of that particular style of wine. A chardonannay that lacks any fruity character might be considered a flaw for that particular style of wine. A fault on the other hand makes the wine mostly undrinkable. Faults include letting your wine oxidize, wine that is too acidic or not acidic enough, cork taint, unfinished fermentation, too much residue in your wine, etc... The book discusses ways to detect these flaws and faults and measures you might take to prevent or correct these flaws.

Flaws can arise at any point in the process of making wine:

  1. How you grow your vines.
  2. When you harvest them (e.g, wet versus dry weather, hot versus cool temperatures, etc...).
  3. Post-harvest handling of your grapes.
  4. How you press your grapes.
  5. How you manage your must at the beginning of fermentation (e.g., kill wild yeasts, yeast selection, cleanliness, etc..).
  6. How you manage your must during fermentation (e.g., punch down frequency, temperature control, measuring fermentation progress, etc...).
  7. How you cellar your wine.

If you don't have any major screw ups, or if you are able to appropriately remediate any screw ups, then the end result is often a good and drinkable bottle of wine. Indeed, one common way vinters think about wine making is that their goal is not to create a superior wine but rather to produce a wine without any obvious faults or flaws.

It might be useful to think about launching a startup or running a business in a similar way. You may be tempted to think that your job is to create a highly successful and disruptive enterprise when in fact you might be more successful if you focused more on the negative goal of not screwing up too bad. Like wine, there are are host of flaws and faults that businesses can exhibit some of which can be fatal to its success. A bad business structure, a bad partner or employee hire in the early days, inadequate cash flow, no insurance against catastrophic loss (e.g., health or legal problems), not running a lean operation, poor or inadequate tax planning, poor business planning, inadequate venture capital, poor market research, etc... Less fatal issues, called flaws, occur when we run a particular type of business (e.g., car dealership) but don't do some of the things that businesses of that type do to be successful (e.g., offer financing). This may not kill the business but it will make your line of business less successful than businesses of the same type. Business flaws are industry specific whereas business faults are industry-agnostic issues that businesses in general have to overcome to be successful.

There is the view out there that you should expect to make lots of mistakes when starting or running a business or defining what features your product or service should have. That is true but it is also true that some mistakes can be faults that sink your business. You can be so fixated upon producing a great business (or a great wine) that you make rookie mistakes when it comes to running your business (or making wine). You don't measure or address seemingly minor issues that can potentially be fatal to your business (or wine). Some of the "little things" can make a big difference in the end and can't simply be blown off as "mistakes".

So one lesson we might take from successful wine making is that it is often a matter of looking out for and addressing common flaws and faults that often happens to wine. Sometimes you can end up with a superior wine simply because you watched out for and addressed all the potential flaws and faults that could have ruined your wine. Likewise, a highly successful business can happen by taking care of the boring fundamentals rather than actively striving to create a great business. Success can be the result of not making too many major screw ups or quickly detecting a screw up and fixing it before it becomes a big problem. So the lesson from wine making is that a focus on not screwing up can produce a good wine and that the lack of a faults and flaws is a pre-requistite to producing a great wine. Sometimes a great wine happens without striving to produce a great wine. It is the absense of faults and flaws, not the presence of something.

Business has a Yin (what you strive for) and a Yang (what you avoid) side. Today's blog is about the Yang side of business and wine making. Cheers!

Permalink 

 Archive 
 

Archive


 September 2019 [1]
 July 2019 [1]
 June 2019 [2]
 May 2019 [2]
 April 2019 [5]
 March 2019 [4]
 February 2019 [3]
 January 2019 [3]
 December 2018 [4]
 November 2018 [2]
 September 2018 [2]
 August 2018 [1]
 July 2018 [1]
 June 2018 [1]
 May 2018 [5]
 April 2018 [4]
 March 2018 [2]
 February 2018 [4]
 January 2018 [4]
 December 2017 [2]
 November 2017 [6]
 October 2017 [6]
 September 2017 [6]
 August 2017 [2]
 July 2017 [2]
 June 2017 [5]
 May 2017 [7]
 April 2017 [6]
 March 2017 [8]
 February 2017 [7]
 January 2017 [9]
 December 2016 [7]
 November 2016 [7]
 October 2016 [5]
 September 2016 [5]
 August 2016 [4]
 July 2016 [6]
 June 2016 [5]
 May 2016 [10]
 April 2016 [12]
 March 2016 [10]
 February 2016 [11]
 January 2016 [12]
 December 2015 [6]
 November 2015 [8]
 October 2015 [12]
 September 2015 [10]
 August 2015 [14]
 July 2015 [9]
 June 2015 [9]
 May 2015 [10]
 April 2015 [10]
 March 2015 [9]
 February 2015 [8]
 January 2015 [5]
 December 2014 [11]
 November 2014 [10]
 October 2014 [10]
 September 2014 [8]
 August 2014 [7]
 July 2014 [6]
 June 2014 [7]
 May 2014 [6]
 April 2014 [3]
 March 2014 [8]
 February 2014 [6]
 January 2014 [5]
 December 2013 [5]
 November 2013 [3]
 October 2013 [4]
 September 2013 [11]
 August 2013 [4]
 July 2013 [8]
 June 2013 [10]
 May 2013 [14]
 April 2013 [12]
 March 2013 [11]
 February 2013 [19]
 January 2013 [20]
 December 2012 [5]
 November 2012 [1]
 October 2012 [3]
 September 2012 [1]
 August 2012 [1]
 July 2012 [1]
 June 2012 [2]


Categories


 Agriculture [71]
 Bayesian Inference [14]
 Books [15]
 Business Models [24]
 Causal Inference [2]
 Creativity [7]
 Decision Making [15]
 Decision Trees [8]
 Design [36]
 Eco-Green [4]
 Economics [12]
 Education [10]
 Energy [0]
 Entrepreneurship [59]
 Events [2]
 Farming [20]
 Finance [25]
 Future [15]
 Growth [18]
 Investing [24]
 Lean Startup [10]
 Leisure [5]
 Lens Model [9]
 Making [1]
 Management [9]
 Motivation [3]
 Nature [22]
 Patents & Trademarks [1]
 Permaculture [34]
 Psychology [1]
 Real Estate [2]
 Robots [1]
 Selling [11]
 Site News [14]
 Startups [12]
 Statistics [3]
 Systems Thinking [3]
 Trends [7]
 Useful Links [3]
 Valuation [1]
 Venture Capital [5]
 Video [2]
 Writing [2]