On March 19th, Linfield Wine hosted a panel about how iconic brands have endured over several generations, featuring Sosta House and Winery Lane Collective Owner Mia Ponzi Hamacher, Stoller Wine Industries President Gary Mortensen, Wente Vineyards Director of Marketing Kela Driggs and Pendleton Woolen Mills Vice President of Retail Scott Dylag. Members of the public sphere and a few students partially filled the room.
Today, only 3% of small businesses in the U.S. survive to the fourth generation, with an average lifespan of just under 25 years. More specifically, the wine industry endures a 5% decrease in consumption and tariffs that reduce its ability to export.
Overall, the panelists agreed that continuing the company’s legacy was an honor and something to take pride in. Ensure that the products adhere to core values and the original vision.
Illustrating this, Pendleton Woolen Mills once made a gamble that paid off when they collaborated with Star Wars on a set of four blankets, maintaining their roots and pleasing older customers while still attracting a younger audience.
Of course, enduring means being ready to adapt. However, changes should leave intact what makes your company unique.
“Our foundation is to continue to provide work for our employees,” said Mortensen. “Your employees and your brand are what is sacred. The products that you make are almost irrelevant compared to those in a 200-year vision.”
Panelists endeavor to build teams motivated by love and fulfillment in their jobs, to whom a hotter fire merely forms a harder steel.
This attitude is key when the only way their companies progress is by failing fast and failing forward.
Meanwhile, many small businesses make the mistake of chasing demand, which can lead to overinvestment that is difficult to recoup. Wineries plan out their products years in advance and could become stuck with inventory they can not sell.
In 1933, the Wente family adapted to Prohibition by investing in other agricultural sectors, though such rapid diversification is impossible today. Nowadays, it is salient to stay nimble and not be afraid to have hard conversations, even doubling down as needed.
To stand out, utilize cost-effective marketing that adheres to online marketing expert Gary Vaynerchuk’s interest media theory, which holds that your social media feed consists of topics that fascinate you. You can connect with potential clients who are exploring wine by ensuring you appear in their feed of what interests them.
“I think that social media is the great equalizer, that anybody can make great content and reach a new audience,” said Driggs.
For community involvement, partnering with local small businesses or nonprofits is a wonderful way to connect. Pendleton still collaborates with its old tribal partners today, including a second-generation small business remaking ceremonial blankets.
To ensure future family leaders of the company want to work there, do not make them feel forced into the position. Instead, encourage them to explore other career pathways before making the final decision.
“I think we really love what we do, and we love the land where we are,” said Hamacher. “That is what carried my grandparents and my mom’s generation, and it carries on to us.”
Leaders should be immersed in the company’s history so that they can maintain the roots and pass that knowledge on to the next generation. At Pendleton, Bob Christnacht, head of Sales and resident historian, is retiring.
“We are spending as much time with Bob as possible, to have him share all of his knowledge with the entire leadership team,” said Dylag. “It is all of our job to carry on those historical stories.”
At the end of the panel, each expert gave parting words of advice:
Love your job, and you will never work a day in your life.
“Work with joy,” said Hamacher.
Who knows what the people want better than the people themselves?
“Listen to the voice of the consumer,” said Dylag.
There will always be challenges, but do not let that stop you from trying.
“Never give up,” said Mortensen.
Have a clear target audience in mind.
“Know your customer,” said Driggs.
Dining and Cooking