From Lawyer to Wine Leader: How Stepan Baghdassarian Found Success by Moving Away From The Generalist Approach
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Stepan Baghdassarian, president of Rio Joe’s Brands, Inc., left a 14 year law career in 2005 to get into the wine industry. He shares how he loves wine because of its natural variability, cultural significance and ability to connect people.
His company, based in Van Nuys, has several niche e-commerce platforms (like WinesOfArmenia.com and the upcoming WinesOfGeorgia.com) that import and distribute specific regional wines directly to consumers across the United States.
Baghdassarian shares the challenges of initially competing as a generalist against big companies in the online wine space. He attributes his company’s success to a strategic pivot towards specialization and focusing on becoming the go-to source for Armenian and Georgian wines.
He says learning from mistakes and adapting to market changes were key. Baghdassarian advises entrepreneurs to stay focused, get a mentor, avoid negativity, be prepared to pivot and practice delayed gratification.
