BottleBlog by Bottlenotes: wine tasting notes, wine tasting event info, wine tasting trip recommendations, and more.

4 Tips for the First-Time Entrepreneur

4 Tips for the First-Time Entrepreneur (ie: my key-takeaways from the first year of entrepreneurial life :) :

1. Weekly team meetings or calls are a must.

Taking 45 minutes-1 hour every week to have formal, catch up, and high-level planning sessions is really crucial to keeping all existing and new team members working as a cohesive unit, and on the same page.

2. Give investors real-time updates.

I thought my investors would solely want to see polished, formal, quarterly updates. They do want the financials in that form, but they LOVE real-time updates on exciting news about the company in the press, new hires, new partners, etc.

3. Keep thy friends close and they enemies closer.

I have had more opportunities than I anticipated to get to know “competitors,” or at least CEO’s of firms in competitive spaces. Every time I have met with one of them for coffee, I’ve realized that our value propositions are really more different than I thought originally, and more, they’re interesting people in a similar space, therefore as the dage goes…

4. “Hold on and Enjoy the Ride”

My favorite entrepreneurs and mentors always forewarned that start-up life would be a rollercoaster ride. But losing and winning your first big deals in the same 24 hour stretch? Hadn’t anticipated that much drama. The road is not for the faint of heart…but in the end, there is nothing more gratifying. “So hold on tight and enjoy the ride,” is my motto of late!

Alyssa Rapp, Founder & CEO, Bottlenotes, Inc.

Here are my thoughts on the "4 Tips for the First-Time Entrepreneur" as printed in Allie Covarrbias' (acovarrubias@ladieswholaunch.com) August 2006 San Francisco Ladies Who Launch Newsletter:

A Night to Remember

There are pros and cons to being involved in any start-up company. But last Friday I experienced what was most certainly a pro. Jackie Quillen, a member of our Bottlenotes Board of Advisors and the Founder of Christie’s (auction house) New York Wine Department, invited my husband and me to a wine dinner on the beach in East Hampton, NY. I have known Jackie all my life, having grown up with her wonderful sons, and have always loved her for her intelligence, intellect, generous heart, and free spirit. It was only in recent years that I became aware of her vast knowledge of and deep love for wine. She is the most incredible blind taster I have ever seen – able to place a wine to the specific vineyard and year more often than not.

So an invitation to a wine dinner with Jackie was not one to even consider turning down, barring family death or personal dismemberment. Jackie had invited four other guests, all of whom are very involved in wine, either professionally or as a hobby. As the sun was setting over a beautiful, calm ocean, we enjoyed a delicious Sancerre made from Pinot Noir and Chardonnay. It had hints of lychee (in a good way) on the palate and wonderful structure. We then sat down to an appetizer of assorted seafood and a decanter of mystery wine. Jackie had let the cat out of the bag a little by telling us all that she was going to bring out “some really old stuff.” We all assumed that meant Bordeaux.

As we sniffed the wine and looked at the rich hue, we all got rather excited. Clearly the wine was old – but when Jackie said it was “older than Kim,” we knew were in for a treat. As we sipped the wine, we were all astounded by how nearly perfect it was on the palate, still exhibiting perfect structure and good tannins. The flavor lasted for a long time, and I felt like a warm force was washing over my whole brain. The renowned Bordeaux importer to my left said he thought it was from the right bank of Bordeaux, but Jackie said “no, left bank.” Then the wine aficionado on my left said he thought it might be a Margaux. Jackie’s eyes lit up and she said “Yes! Actually Chateau Margaux!” All our eyes went wide, and the importer said “Ah! It’s a 1961.” But Jackie then showed us the bottle, which had a label so disintegrated that you couldn’t see the vintage. She said that it was either a 1959 or a 1961, but she was truly not sure. Much discussion ensued, with no definitive answer in the end. Either way, it was possibly the most amazing wine I have ever tried.

As an incredible half moon of deep orange rose over the water, I enjoyed perfectly cooked antelope served with an amazing 1969 Chambertin from Jackie’s cellar. That was followed by a delicious 1995 Pontet Canet and some interesting Tokay from Hungary. All in all, the evening was truly memorable. And as a stellar Bottlenotes Advisor, Jackie made sure that by the time I left, I had made an appointment to meet with the Bordeaux importer about working with his wines, and had strong interest from another guest in investing in Bottlenotes. Now that’s an evening with a long-lasting finish.

Kimberly Donaldson, Bottlenotes Co-Founder

3 of the Best Kept Secrets on Entrepreneurship

Here are my thoughts on the "3 of the Best Kept Secrets of Entrepreneurship" as printed in Allie Covarrbias' (acovarrubias@ladieswholaunch.com) August 2006 San Francisco Ladies Who Launch Newsletter:

1. Build a Dynamite Board of Advisors
2. Surround Yourself with other Entrepreneurs
3. Role Play Difficult Conversations

Build a Dynamite Board of Advisors

My formal advisory board is filled with a range of individuals- some industry experts, others with specific and unique skill sets on which I’ve leaned. Either way, picking this broader team of advisors to coach and guide me through the entrepreneurial journey has proven helpful than any brief anecdote would convey. Whether friends or mentors, whether we connect by email, phone, or dinner, my advisors are my extended team and support system. I would never launch a company without them

Surround Yourself with other Entrepreneurs

My entrepreneurial friends are living in the same world of stress, excitement, struggle, and growth – and surrounding myself with great entrepreneurs, particularly women, has proven incredibly inspiring. Making time for runs, coffee, or phone calls with my fellow entrepreneurial friends- particularly women- has often provided that extra dose of confidence, inspiration, or energy needed to get me through low points and celebrate the highs.

Role Play Difficult Conversations

One of the greatest skills I learned at business school is the art of role play. The purpose of role play is to walk through those really tough conversations in advance of having them, in order to “practice,” fall into traps, etc. in the practice run vs. the real-deal conversation. Role play has proven an incredibly helpful tool for me in conversations with potential investors, team members, or even loved ones. And there’s no better partner for the role play than a fellow entrepreneur.

Alyssa Rapp, Founder & CEO, Bottlenotes, Inc

Six Flags, Great America

Start-up life is a fascinating journey. Many days are spent shooting for the moon, aka: writing proposals to potential partners, selling them on the value of our customized wine club service and technology platform. Other days are spent firefighting, with hours upon hours of logistics management, supplier relations, customer service, and sometimes, just to add a little spice, chasing after FedEx or UPS trucks. (The two times I have literally been speeding down a minor thoroughfare in hot pursuit of the FedEx “milk-truck” or UPS “chocolate milk-truck,” I have sworn to myself that it’s the last. Alas, old habits die hard.) Some days luck seems to strike just when the doctor ordered- ie: a cold call from a Fortune 500 firm who wants to partner with you. Other days, well…the entrepreneurial journey is filled with great highs and great lows,  as they say. My favorite days are those days when I smile, acutely aware of why I entered this business:

1) When I drive to wine country, chatting on the phone for the majority of the time with Bottlenotes Team Members, Investors, and Board Members, updating, problem solving, strategizing, and brainstorming. Not only is the drive cathartic and the views once I hit Highway 29 breath-taking, but my habitual three-five appointments are almost always inspiring. It’s a thrill to pitch a new supplier, watch their eyes twinkle at the thought of this neat, new marketing platform and distribution channel, and most gratifyingly, to watch them nod in accord when they agree to allocate product to the Bottlenotes portfolio.

2) Running around Manhattan with my co-founder Kim Donaldson, cramming in meeting after meeting with potential supplier-potential investor-potential partner- potential investor-potential supplier-potential supplier- potential publicist- potential ad agency- potential supplier-potential partner-potential investor… you get the drift. The butterflies hanging from the ceiling in our cheerful New York office continually remind me that the time to act is today and 90% of what makes you successful is dogged perseverance.

3) Reading a clever article in an edition of BottleNews, or most decadently, enjoying some of the indulgent culinary treats by Bottlenotes’ Director of Food & Wine Research, Antonia Moran. What fun it is to build a team and get to enjoy the fruits of each other’s labor (bad pun not intended).

4) Seeing a new product come to life, like the Bottlenotes Winecyclopedia™ (coming soon at www.bottlenotes.com/winecyclopedia), a quintessential example of teamwork. Bottlenotes.com universally reflects the talented artistry of Laura Primack, Bottlenotes’ Web Designer, the careful coding of the Code Works, Inc., the creativity of the extended Bottlenotes team. In the case of the Winecyclopedia™ and Expert Tasting Notes database, these product would also not be coming to fruition without the careful management of Bottlenotes' VP Finance & Operations/Acting Product Developer Michael Levinson, along with the editing, layout design, and research by Bottlenotes interns Matthew Inkeles and Sam Tanzer. The product development process reminds me in many ways of my days as a modern dance choreographer: after weeks of hard work, dress rehearsals, and integration of numerous moving parts, there’s a bit of magic that brings the show together.

5)  It’s tasting wine on a Friday afternoon when the clock strikes 5 pm with our team, laughing together over esoteric terminology, debating the valor of pungent blue cheese vs. triple cream brie.

While entrepreneurship is an absolute rollercoaster- not wise for the faint of stomach or the faint of heart- I feel extremely privileged to be on the ride.

Alyssa Rapp, Founder & CEO, Bottlenotes, Inc.