In this episode, Zane Stevens discusses the importance of having the right accounting resources in place as businesses approach year-end. He emphasizes the need for specialized accounting services, particularly for wineries, and explores the costs associated with these services. Zane also highlights the potential consequences of not investing in good accounting, including financial mismanagement and…
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As a winery owner, understanding and managing your costs is crucial to maintaining profitability and ensuring long-term success. One of the most important financial metrics you need to master is the Cost of Goods Sold (COGS). Especially during harvest season, when expenses can skyrocket, having a clear grasp of COGS can make a significant difference…
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You may not have thought about this, but it is a common question among winery and vineyard owners, not to mention wine aficionados. Customers always ask vineyard and winery owners why wine is priced the way it is. If you have ever wondered how your favorite bottle of wine is priced, or you are thinking…
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As a winery owner, you are probably far more concerned with wine production than wine pricing. That’s understandable because if the wine isn’t good, it won’t sell regardless of price. However, you need to get a fair price for your wine to recoup your production costs and stay in business. Wine pricing can be tricky….
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Small businesses often have cash management issues. In fact, over 60% of small business owners have cash flow problems from time to time. Over 40% of businesses have had cash problems so severe that they missed vendor payments, payroll, or leases. Controlling your cash flow is vital to the success of any business. The wine…
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Small business owners who look at balance sheets regularly are in the minority because there are many other demands on their time. Understandably, business owners would want to worry about staffing, marketing, and customer service before thinking about those columns of figures. However, business owners who wish to grow their business moving forward read and…
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