Monthly Archives: June 2015

Random Thought #11 – Important Business Meetings

When I first started out in business and I would have an important business meeting, I would usually meet somewhere for lunch or dinner. Many meetings worked out great, but of course, some were disasters.

One time I had a very important meeting so I invited the person to go to a Los Angeles Kings hockey game with me. He said he loved hockey and that would be great. About 15 minutes into the 1st period we finished our business and he got up and said he forgot another meeting and left. I was really upset.

He actually taught me a great lesson. If a meeting is very important try to always put yourself in a position that when the deal is made that you can make a graceful exit. I don’t know how many times I made a great deal and then it blew apart because we kept talking.

When your deal is made and you’ve gotten what you want, try to get out of there as fast as you can so you don’t screw it up.

 

 

Random Thought #10 – Management Interviews

Whenever I have to interview a manager for a job, I always start the interview by giving  them a situation to work out. For example, if the job was for my restaurant I might say “it’s a Friday night and the restaurant is packed beyond capacity,  all of a sudden you hear shouting from the kitchen and it’s so loud all the customers hear it too. You go into the kitchen and a cook and a server are screaming at each other and it includes obscenities,  what do you do?”

I do this at least twice in an interview. There are many right answers, but not just one correct one. I do it so I can see how they think and if I feel that they’ll stay cool under pressure.

If I’m happy with the outcome, then I start the interview.

Random Thought #9 – Synchronicity

I believe that everyone and everything that you need in your life is there when you need it. The problem is very few people pay attention, so it goes right by them. In fact in today’s world with everyone texting and using their iPhone I don’t see how they ever notice anything.

Have you ever experienced a coincidence so incredible that it left you stunned? If so you have witnessed synchronicity.  All coincidences have meaning, nothing happens by chance. What happens in most people’s lives is beyond their control. No matter how carefully you plan, one random event or detail can and will change everything. In fact a ridiculous project could be a huge success due to luck.

It isn’t enough to plan. You must have chance on your side. Without it, whatever you do or plan will most likely go wrong.

Random Thought #8 – Lawyers and Accountants Advice on Business

Except for a few exceptions it took me years too learn that you shouldn’t ask Lawyers and Accountants for business advice. You should make up your own mind what you want to do and let your lawyer protect you the best he can. He should give you warnings when necessary, but it’s still your decision what to do. Your accountant should give you all the right ideas to set up your books and ease your tax burden.

One reason that you don’t want their business advice that hardly anyone ever thinks of is that they are unconsciously motivated to talk you out of every deal. First of all if they don’t warn you of everything and the business fails they could lose you as a client, if they warn you of everything and the business works out they don’t get paid any extra money.

Unfortunately, if they own a piece of the deal their advice would be more realistic.

Random Thought #7 – The 20 Most Important Rules of Business

It took me many years of hard work to learn these rules, so here they are.

1. Taking care of the customer and making sales.

2. Taking care of the customer and making sales.

3. Taking care of the customer and making sales.

4-19. Taking care of the customer and making sales.

20. Everything else.

Now number 20 is very important. It includes everything in the business besides taking care of the customers and making sales. Without the 1st 19 rules there can’t be a rule  20. Too many of us lose sight of this.  YOU MUST MAKE SALES TO KEEP YOUR COMPANY OPEN FOR BUSINESS.