Many people dream of starting a startup but many fails. The idea of being a successful restaurateur has become more popular and glamorized in recent years with the rise of celebrity chefs and TV cooking shows.
However, the reality of running a restaurant is often unglamorous, expensive, and stressful. Many restaurants struggle to make a profit, many restaurants fail, and many restaurant owners find that the dream of running a cozy, friendly little food-service business can quickly become a nightmare.
I recently came across an article from Toronto Life, written by Robert Maxwell, a former restaurateur who says that fulfilling his dream of becoming a restaurant owner almost ruined his life. It cost him his savings, his house, and almost ended his marriage. This article is gripping, well written, honest, authentically human, and highly informative; there are many lessons that other business owners can learn from Robert Maxwell’s experience.
Any business owner, no matter their industry, can learn from those who have struggled to run a restaurant. Here are a few marketing and management lessons that other business owners can take away:
Test before you launch
Robert Maxwell was an enthusiastic home cook who loved trying new recipes, watching cooking shows, and reading about food, and he thought that his kitchen skills and his love of food would translate to restaurant success. He even operated a booth at a Toronto food festival to practice cooking and serving his favorite recipes; he served 400 people in one day and he thrived on the adrenaline rush.
This is a good idea for any new business owner: Do a test run of your business idea. Do a proof of concept. Start small and see if you can make money first on a small scale before you go all in on starting a new business, making bigger investments and taking bigger risks.
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