Now I am a partner in 2. But only after a big failure.
I never wanted to own a bar, I just wanted to make some extra cash. I distinctly remember telling myself that before investing in one. Little did I know, that failure would lead me to where I am today, now, writing to you, a stranger on the other side of the world, offering you my consulting services.
When we opened the first bar, we thought we couldn’t go wrong. Hundreds of people came in every night to party and drink. The problem (one of many) was that our managing partners had no clue how to run such a business and about 6 months I had to quit my job and learn how to manage a bar with a big staff, a six-figure P&L and a huge inventory that goes bad every couple of days. Till this day, in my storytelling workshop for startups, I repeat that running a restaurant is more complicated than what my listeners do. If you want to run a tech business, go manage a food & beverage business for a year.
I needed help fixing the business. I called everyone, went to every meeting. I knew how to market and sell things but knew nothing about running the back office. I had to learn everything from scratch. My friends who owned bars came to help, teach and support me. Slowly I started to learn the business and implement things I learned years back in the retail industry. I started to improve our marketing and reach through word of mouth. About 9 months in I managed to sell the place. Since then, I have helped over 70 businesses in the food and beverage industry improve, grow and sometimes help them realize the best thing is to close shop and move on.
Thanks to so many amazing people along the way I started my consulting service, built streetwise, a digital marketing agency serving mainly startups, and today I am still a partner in two bars (another successful one was sold in 2014). As I meet more young entrepreneurs and companies, I always tell them how one thing led to another.
What I thought would be a small investment became one of my biggest failures. I lost more than $150K but was able to learn and grow other businesses. When it looks grim and you feel lost, look for people that are different from you, that can help you look at things from a fresh perspective. When you think you need a push, just ask for it.
No one wants to fail but are you willing to ask for my help?
If so, I am inviting you to a 30min session with me online to hear about your idea, business and where you want to go from here. We will discuss options and ideas; I will share my experience. I am not looking to hold your hand but rather be productive and think about the future, your habits, and if you are willing to put in the work.
If you feel you need that push, let’s talk.