MJ DeMarco
I followed the science; all I found was money.
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The Background on the Entrepreneurial Premise (EP) is here:
http://www.thefastlanetomillions.com/showthread.php?t=3056
The following serves as a great case study and ironically, comes from reality TV.
There is a show last night I watched called "Kitchen Nightmares". It features a world famous chef that visits a struggling restaurant, cleans house, and turns the business around.
I don't know how I stumbled onto the program but found it quite educational for reality Tv, very quasi Trump's apprentice.
The restaurant was called the Old World Restaurant or something to that effect - the genre was Italian. The background is that the owner, Joe (not sure the owner's name), is struggling to make the restaurant work. He's maxed to the hilt; 2nd mortgages, credit cards you name it - he is barely getting by. And of course,owning and running this Restaurant which is situated in an old historic building, is the owners "dream".
I mention in the EP that people don't care about your dream, your business, and your goals for making money.
Anyhow, the famous restauranteer, Gordon, did some research to determine why the Old World Restaurant was struggling in this small Pennsylvania town. He does a survey of the town and finds that there are 6 OTHER ITALIAN RESTAURANTS in the town. Furthermore, there are ZERO steakhouses in the town.
So the expert restaurateer recommends to the owner to CHANGE HIS RESTAURANT GENRE FROM ITALIAN to a STEAKHOUSE.
The owner's initial reaction?
"Thats not my vision."
As I watched, I couldn't help but laugh. Your vision? People don't care about your vision. They care about your restaurant satisfying their needs. Your town has 6 ITALIAN restaurants -- perhaps thats why you can't turn a profit? Does your restaurant exist to serve the needs of the people? Or the needs of your "Vision?" or "your dream?"
Needless to say, Gordon convinced the owner to switch from Italian to Steakhouse and yes, the restaurant turned around.
I considered it an excellent case study on having the proper Entrepreneurial Premise.
An Italian Restaurant was the owner's dream ... the town didn't care -- until he switched it to a Steakhouse.
To watch a video segment and wow, it gets quite heated!
http://www.fox.com/kitchennightmares/
Click on "Episode 5: Did I stutter" watch the expert and the owner go at it! :boxing_smiley:
http://www.thefastlanetomillions.com/showthread.php?t=3056
The following serves as a great case study and ironically, comes from reality TV.
There is a show last night I watched called "Kitchen Nightmares". It features a world famous chef that visits a struggling restaurant, cleans house, and turns the business around.
I don't know how I stumbled onto the program but found it quite educational for reality Tv, very quasi Trump's apprentice.
The restaurant was called the Old World Restaurant or something to that effect - the genre was Italian. The background is that the owner, Joe (not sure the owner's name), is struggling to make the restaurant work. He's maxed to the hilt; 2nd mortgages, credit cards you name it - he is barely getting by. And of course,owning and running this Restaurant which is situated in an old historic building, is the owners "dream".
I mention in the EP that people don't care about your dream, your business, and your goals for making money.
Anyhow, the famous restauranteer, Gordon, did some research to determine why the Old World Restaurant was struggling in this small Pennsylvania town. He does a survey of the town and finds that there are 6 OTHER ITALIAN RESTAURANTS in the town. Furthermore, there are ZERO steakhouses in the town.
So the expert restaurateer recommends to the owner to CHANGE HIS RESTAURANT GENRE FROM ITALIAN to a STEAKHOUSE.
The owner's initial reaction?
"Thats not my vision."
As I watched, I couldn't help but laugh. Your vision? People don't care about your vision. They care about your restaurant satisfying their needs. Your town has 6 ITALIAN restaurants -- perhaps thats why you can't turn a profit? Does your restaurant exist to serve the needs of the people? Or the needs of your "Vision?" or "your dream?"
Needless to say, Gordon convinced the owner to switch from Italian to Steakhouse and yes, the restaurant turned around.
I considered it an excellent case study on having the proper Entrepreneurial Premise.
An Italian Restaurant was the owner's dream ... the town didn't care -- until he switched it to a Steakhouse.
To watch a video segment and wow, it gets quite heated!
http://www.fox.com/kitchennightmares/
Click on "Episode 5: Did I stutter" watch the expert and the owner go at it! :boxing_smiley:
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