Tuesday, February 24, 2009

Live notes from the Vince Orza keynote

Vince Orza
His first experience in restaurants is back when he was 16. Later he did advertising for a chain of Mexican restaurants. That's why he thought he knew somehting about restaurants.

Do you have a partner who is good at what you're not?
One of the rules of business is to write things down.
A friendship founded on business is better than a business founded by friendship. John D. Rockefeller.
The optimist invents the airplane, the pessimist invenets the parachute. Both are necessary.

"I'm abosultely a dreamer, and I'm lot the least apologetic about it."

"Every successful enterprise requries three men. A dreamer, a businessman, and an SOB" Peter McArthur, British Newspaper Publisher.
Most of us don't communicate very well. Have you explained exactly what you want done while you are gone? I thought I did. That's the problem.

There is a big difference in being captiain of a team trying not to lose and a team trying to win. Vince Orza
"When in doubt, don't hire. Keep looking." Vince Orza #OKEntrep

Panel -
I didn't know it would be that much work.
Wrote a one page business plan, that is still the core document of my business.
If it's about the money, I assure you you'll probably screw it up somewhere.
Employees will never see it the same way you do. They aren't owners, even with stock etc.
Don't ever let other buy in for what you did when you started it. Make them buy in at what it is worth today.
If you want to be an entrepreneur, you have to be part of your community, you have to be committed to your community.
Set up a filter that you run all those donation and fundraising requests through. Does it align with what you are doing? You'll always do more, but you need some kind of guidelines.
Setting pricing - "Well, how much will you give us?" Well do it for free, and if you like it, we do it again for pay." I used to give it away.
Price is not a niche, it never will be, you just can't win. You have to differentiate yourself and price doesn't do it.
"Happy customers buy more." Ron Magruder
"Don't expect, inspect."

The Four Surefire rules for success:
Show up
pay attention
ask questions
don't quit

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