Everyone wants to gain access to the local high-net-worth community. The wealthy know that. They live in gated communities or have a gate at the end of their driveway. They belong to country clubs and private clubs in the city. How are you going to gain access? Wine can be your crossover vehicle to get you in.
Wine crosses the interests of wealthy people with the limitations of your current budget. Put another way, let us assume you know how to physically get access to HNW circles. (Joining the local museum is a good example.) Your shared interest in fine wine gives you something to talk about, a shared interest that makes you worth knowing.
Let us assume you enjoy wine. How do you go about making this your “specialist subject?” This will take time and effort. First you need to know stuff, then you need to get into the right circles. As you go along, you need to deepen your credentials.
1. Learn the basics about wine.
This can be done by taking a course or reading the right books. You want to know how wine is made, the primary grape types, the famous wine growing regions of the world and the big names, both of vineyards and winemakers. This not only helps you not only carry on a conversation but separates you from the “posers” and signals you have a serious interest.
2. Pick a wine region to be your major focus.
No one is an expert on everything. There is too much to learn. Pick a popular varietal from a mainstream area, like Napa Valley cabernet sauvignon or red Burgundy (pinot noir) from France. Do not go too broad. It’s been said Italy has 350 grape varieties. Stay in the mainstream: They make great wine in Portugal, but serious wine fans will likely be talking about California or France. You can “hold your own” when your region enters the conversation.
3. Follow the wine press and the wine critics.
Major publications include Wine Spectator, Wine Advocate and Decanter (UK), for example. Read them cover to cover, especially the latest vintage reports. True wine fans might disagree with the opinion of the critics, but they are as up to speed about wine industry stories as they are The Wall Street Journal.
4. What is the most expensive (or rarest) bottle you have tasted?
This is a project you might do in partnership with friends. Within your specialty region, pick something truly great, buy a bottle and experience it. (You might keep the empty bottle on display in your office.)
This serves a couple of purposes: It is a quality benchmark. You know what the best tastes like. Now seek out that flavor in something less expensive. Second, your wine fan friends will talk about the greatest bottle they have tasted. Now you have something to contribute to the conversation.
5. Find a good wine store and become a regular.
Get to know the owner. Give yourself a weekly or monthly allowance to spend on your hobby. Let them know your specialist category. Follow their suggestions, buying what they tell you. They should start to let you in on the serious wines in short supply. Let them know you would like to meet fellow wine fans.
6. Join a wine club.
There are wine societies with local chapters. Your wine store might run classes. Attend the in store tasting they announce. Become a regular. This improves your knowledge and puts you in the company of other wine fans.
7. Organize a wine tasting for clients.
This might be termed a “fun” seminar. It’s a great “client/prospect” event theme. Perhaps your wine manager friend will run it. Maybe you ask to hold it in their store, share expenses, invite your clients and ask them to invite their serious wine buyers.
You are establishing yourself as an expert. You are meeting their good customers, who are probably HNW individuals. (The store owner is meeting your clients, who might become customers.)
8. Attend wine conventions.
You might know some people who attend Comic Con in New York or the Philadelphia Flower Show. Serious wine fans attend the New York Wine Experience, organized by Wine Spectator. You will be surrounded by a friendly crowd.
9. Visit your chosen wine region.
If your major wine focus is California Cabernets, you must visit the Napa wine region. If it is Bordeaux, you must visit France and get access to the major wine-producing chateaus. You will meet interesting people on vacation. You will have stories to share with your wine friends.
10. Attend wine auctions.
If they are legal in your state, they are a great way to mingle with people who have plenty of disposable income. You might add a few bottles to your collection. If you attend on a regular basis, you will start to see the same faces. They likely live locally.
11. Find one or two good wine bars.
Become a regular. Entertain clients there. If sports bars attract football fans, wine bars attract wine fans. You will have the opportunity to broaden your horizons and try new wines. Your clients will identify you as a fine wine guy. They will tell their wine loving friends about you.
12. What is the oldest bottle you have ever tasted?
This can take you out of your specialist subject region. Wine fans also talk about this among themselves. Port, a fortified wine from Portugal, can age for a very long time. High-end restaurants often have older ports available by the glass. Make notes on how it tasted.
13. Find some BYOB restaurants with good food.
You will start to go out to dinner with your wine friends. Everyone brings a bottle to share. Everyone pays their own way. This is a way to entertain without organizing everything at your own home.
14. Keep your eyes open for wine bargains and hard-to find-wines.
Wine is an incredibly inefficient business. Wine is heavy, fragile and temperature-sensitive. When a new vintage comes out, the distributor might need to free up space in their warehouse. Sometimes, this wine is quietly sold to certain wine stores at deep discounts. Certain stores get access to hard-to-find wines.
Knowing how and with whom to share this information demonstrates a financial acumen that reflects positively on your professionalism in your career.
Wine is a good gateway into the local HNW community. There are more serious wine fans and collectors around than you might think!
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