A Quote by Michael O'Leary
When you look at the number of stupid people who have succeeded in business, you clearly don't have to be very bright. Business is all about getting your sales up and your costs down, the bit in the middle is profit.
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Profit isn't and shouldn't be the mission of business. The mission of business is to help people. To help your customers, your co-workers, your employees, and your partners. Success is not a number - it's not X dollars or Y customers - it's a measurement of VALUE.
If you go out there and start making noise and making sales - people will find you. Sales cure all. You can talk about how great your business plan is and how well you are going to do. You can make up your own opinions, but you cannot make up your own facts. Sales cure all.
The business is about coming up with a business plan and using your relationships and networking and seeing your dreams come true. Everyone on this show has their own business. Fifteen minutes of fame is fleeting. It's about learning the business and creating a new business.
Call on a business man only at business times, and on business; transact your business, and go about your business, in order to give him time to finish his business.
Your customers are the lifeblood of your business. Their needs and wants impact every aspect of your business, from product development to content marketing to sales to customer service.
I say don't overreact; cool your jets. Focus on things that you can control: your business, your employees' welfare, your guests, and the quality of the product that you dish up. Do that, keep your chin down, pay attention to business, and the sun will come up tomorrow. That's the way I figure it.
You have to be passionate about your business. If you don't love your business, you are doing a terrible disservice to your customers and clients, your team members and business partners, your family and yourself.
Frankly, I get much more sensitive about what's written about me than how I look in a photo. I'm so used to people seeing my image in plays and films that what they think about how I look is none of my business. If they says, "Hey, he doesn't look good," I'm like, Whatever, because I know I look different from day to day. But if you're up there putting your heart into something and people reject your performance, that's very painful. The written word can kick your ass.
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.
The essence of a successful business is really quite simple. It is your ability to offer a product or service that people will pay for at a price sufficiently above your costs, ideally three or four or five times your cost, thereby giving you a profit that enables you to buy and to offer more products and services.
I think, as a chef and restaurateur, that you have to take care of your business. Otherwise, you're only as good as your last meal. You have to watch if your food costs are too high, or you could be out of business in no time.
The Profit and Loss Statement tells you a lot about how your business is doing. It can also help you to determine ways that you can go about saving money so that you get to bring more money home! Basically, the P&L statement measures all of your income sources verses all your business expenses for any given period of time.
My advice is to stop trying to "network" in the traditional business sense, and instead just try to build up the number and depth of your friendships, where the friendship itself is its own reward. The more diverse your set of friendships are, the more likely you'll derive both personal and business benefits from your friendship later down the road. You won't know exactly what those benefits will be, but if your friendships are genuine, those benefits will magically appear 2-3 years later down the road.
What other people think of you is not your business. If you start to make that business your business, you will be offended for the rest of your life.
I ask people what they do in sales, how much money they made last year, what their cost of sales is, and they don't even know. If you don't know your numbers, you're going out of business. I don't care how good your product is.
For years, people have been trying to talk to me about doing a show, and I wouldn't do one because I'm a serious business guy. I'm not going to do a stupid show. So, the opportunity came up with CNBC, and we started talking. It became a real business show. It's educational, people watch it, and it's great for small business.
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