A Quote by Jon Taffer
Most people who get into the business are social animals by nature, but do they have the financial abilities to manage a business? A great bar owner has both.
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To obtain financial freedom, one must be either a business owner, an investor, or both, generating passive income, particularly on a monthly basis.
Bar owners tend to be social rather than operators. Most bar owners do not manage their numbers. They do not have spreadsheets or reports to manage their budget, cost, or inventory. I would say 90% of independent bar owners do not even have a budget.
Everyone likes to differentiate between business and consumers but I don't see the difference really. Most people are people. I get personal and business mail and I have one set of contacts from my life. I don't want to manage two sets. I want one view of my world.
Business requires understanding financial matters, but management is different from running the financial aspects of the business - it requires understanding complex systems, how they operate, the nature of organisations, what happens when people interact in groups and how to motivate and guide people.
Dealing with those personalities and the people who run this music thing has been most challenging. It's hard to really communicate things to people who run a business yet forget the nature of the business. They only look at the bottom line and the financial return, you know, they forget what it is they're packaging. It's art.
The success of the Starbucks has been based on this balance between profitability and a social conscience. Everywhere we're doing business, were trying to manage the business through the lens of humanity.
Any good business person applies financial discipline to everything they do. The movie business is and should be no different; I don't believe you have to sacrifice creativity to have business success. To the contrary, great art requires discipline.
Everything in business is to get you face to face with people to respond to your offer. You have to realize the Internet is merely a door opening, and it has to be followed up by aggressive sales activity by the business owner.
When we separate the word business into its component letters, B-U-S-I-N-E-S-S, we find that U and I are both in it. In fact, if U and I were not in business, it would not be business. Furthermore, we discover that U comes before I in business and the I is silent-it is to be seen, not heard. Also, the U in business has the sound of I, which indicates it is an amalgamation of the interests of U and I. When they are properly amalgamated, business becomes harmonious, profitable, and pleasant.
I always try and watch how business people think. I like to read a lot about business people. I'm not going to say I've got a great business mind, but I enjoy learning from the world of business.
I mean the business is just so rough man, people always think the business is easy, and the business is very rough. This is probably the worst business that you can get in, as far as, business-wise.
This is not charity. This is business: business with a social objective, which is to help people get out of poverty.
In the end, alchemy, whether it is metallurgical or financial, fails. A base business can not be transformed into a golden business by tricks of accounting or capital structure. The man claiming to be a financial alchemist may become rich. But gullible investors rather than business achievements will usually be the source of his wealth.
The entire idea of building a series of systems in a business is simply this - to create the tools that allow you, as a business owner, to increase productivity and get the job done. The idea behind these systems, of course, is to quit needing your judgement or input in every area of the business.
In a family business, you grow up with close contact to the business, whatever it is, and the beer business is certainly a very social type of business.
As a former small business owner, I recognize both the important role small businesses play in our economy and the broad universe of challenges that small business owners face in trying to make ends meet.
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