Founders

#20 Danny Meyer ( Setting the Table: The Transforming Power of Hospitality in Business)

Episode Summary

What I learned from reading Setting the Table: The Transforming Power of Hospitality in Business by Danny Meyer.

Episode Notes

What I learned from reading Setting the Table: The Transforming Power of Hospitality in Business by Danny Meyer.

This is not a typical business book (0:30), Why don't you just do what you've been thinking about doing your whole life? (4:00), How Danny learned from other founders on what to do and what to avoid (8:00), The smartest business decision I ever made (18:00), Optionality as a non-negotiable (20:00), Inadequate focus on core product (23:30), The founding of Shake Shack is an example of this great quote from Jeff Bezos: "We know from our past experiences that big things start small. The biggest oak starts from an acorn. If you want to do anything new you’ve got to be willing to let that acorn grow into a little sapling and finally into a small tree and maybe one day it will be a big business on its own." (27:00), Advice from Stanley Marcus (Neiman Marcus): "The road to success is paved with mistakes well handled." (38:00)

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