$3m to $60m – Bringing An Offline Business Online

I’ve just read an interesting article about a wine retail business in Springfield, New Jersey. It was inherited by Gary Vaynerchuk in 1987 when it was turning over $3m. Bringing the business online – at a time when competitors were still using fax machines and phone calls – dramatically accelerated growth and today the business has revenue of $60m.

Online Marketing - Wine Library TV!

Online Marketing - Wine Library TV!

Although there are fewer and fewer businesses that don’t have some kind of online presence it seems to me that many of them are not making the most of their online potential.  For example, Vaynerchuck has an online video blog which is watched by over 100k people! How many businesses are missing out on this? It costs nothing (or very little except some time) to record some videos, upload them to YouTube and post them to your website. Worth considering how much value-added this could deliver to the business and how cost effective this is relative to conventional advertising.  A no brainer for many entrepreneurs?