Every entrepreneur knows that support is crucial to success.
When your business banking is simple and supportive, you have more time to grow the company of your dreams—like a laid-back, expertly curated wine shop. We talked to Lily Peachin, owner of Dandelion Wine in Brooklyn, to find out how she runs her business.
DailyWorth: Tell us about Dandelion Wine!
Lily Peachin: Dandelion Wine (a.k.a. Dandy) is a relaxed, funky boutique wine shop in Greenpoint, Brooklyn. We handpick little gems you don’t see anywhere else and have an eclectic selection from all over the world.
DW: What inspired you to open your own shop?
LP: I always wanted my own business. I come from a family of entrepreneurs; working for a large company never appealed to me. After years of tending bar and a stint as a salesperson for a wine distributor, I saw an opportunity to succeed as a small business owner in my evolving neighborhood. I signed a lease and never looked back.
LP: Saving money. We’re lucky to have a growing business, which allows us to buy more wine every year, but I want to have more savings—especially considering I want to buy property in the neighborhood to give the shop more security.
DW: What’s the most valuable lesson you’ve learned?
LP: Hiring (and keeping) a staff that shares your passion and knowledge is invaluable. Keep your staff happy! A happy staff makes for a healthy business.
The most important quality for a small business owner to have is: Insight—you need to know what is up! With your customers, your products, your staff, and your community.
My favorite summer wine is: Txakoli, a slightly sparkling, very dry white (or rosé) wine with high acidity and low alcohol content from the Basque region. It’s perfect for hot days and rich BBQ fare.