I just caught up with this Key Move story about Ponzi Vineyards and successfully building a family business. It’s a nice story about the power and possibilities of family, and leaves me wanting to try some of their wines.
Reading the conclusion – that by making family a priority and having a strategy to encourage the participation of their children, the Ponzis have successfully made their business part of the family legacy – I couldn’t help being struck by the irony.
In American history the Ponzi name is most associated with “Ponzi schemes” – illegal pyramid schemes that defraud investors of huge sums.
So, in a sense, this Ponzi family has boldly and successfully reclaimed the family name. And how have they done it? By successfully implementing the best kind of “pyramid scheme”, multi-generational family involvement.
So when I actually first get to taste one of those Ponzi pinots, I’ll try and remember to raise my glass and toast this nice entrepreneurial story – the Ultimate Ponzi scheme.