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I poured my blood, sweat and life savings into my restaurant. It ruined my life.

torontolife.com

161–170 of 190 posts

Re: I poured my blood, sweat and life savings into my restaurant. It ruined my life.

#161

> At work, I had trouble concentrating on spreadsheets and instead found myself scribbling menus on graph paper Funnily enough, if he wanted to be successful, spreadsheets could've been the key to his success. He would've known his Cost of Goods Sold, he would've known his staffing costs, his rent, and how much money he had and could spend.

Yep, as my accountant relates, many clients continue even after it is very clear they're on a irreversible downward spiral.

Especially cafe/restaurant owners.

Re: I poured my blood, sweat and life savings into my restaurant. It ruined my life.

#162
post #117

Earlier quoted context omitted.

I'm taking (off topic) issue with the notion that Starbucks is not particularly high quality. Before Starbucks the options for coffee were almost universally limited to weak or burnt and stale bland Columbian beans. Starbucks is excellent at consistency (that was in the manual actually; I worked as a Starbucks barista for a year after college), to the extent that they replaced their skilled/training-required espresso…

Starbucks may be consistent at making coffee, but coffee elitists would claim that their coffee beans are over-roasted in order to hide the generally poor quality of the beans and used to burn out a lot of the flavors. If you buy a bag of coffee beans of freshly roasted coffee beans from a local coffee shop, and a bag from Starbucks, then make yourself a cup of coffee the difference is enormous. The predominant taste…

Agreed. I don't have a sophisticated palate and even I can tell that Starbucks is inferior to competitors.

Re: I poured my blood, sweat and life savings into my restaurant. It ruined my life.

#163

Earlier quoted context omitted.

> at least he did something. I mean no offense, because I do sorta appreciate what you're going for, but this is almost the most philosophically, semantically, and most sillily empty sentence that exists. Everyone does something. People who do 'nothing' do something. We only praise people whom succeed publicly or fail publicly. Even then, we only praise the people who fail when we ideologically align with them. We do…

I quit my job and lived out of two bags for eleven months: http://khanism.org/perspective/minimalism/ When that failed I had to get a real job again, but got sick of it after a year and a half: http://penguindreams.org/blog/leaving-full-time-jobs/ Then I took off on the road again and eventually had to return to the full time job/life: http://khanism.org/perspective/a-tale-of-two-journeys/ I did something. I failed .…

Bit dramatic and a false dichotomy. It wasn't like he didn't have other choices.

Re: I poured my blood, sweat and life savings into my restaurant. It ruined my life.

#164

Earlier quoted context omitted.

Yes it's a big factor. Walmart employees, watched by 37 cameras from right over their heads, will still steal cash from the purchase flow. For an organization their size, it's a big problem. You can guess the kind of people you often get for $11 per hour, when you need a million of them (ie 1% stealing means you've got 10,000 people stealing from you). Not much has actually changed regarding this structurally, the su…

What if Walmart paid more than $11/hr to decrease the immediate incentive?

This should be easy to study in Seattle and other "Fight for $15" cities as the higher minimum wage is phased in.

Re: I poured my blood, sweat and life savings into my restaurant. It ruined my life.

#165
post #76

> In 2011, I applied to operate a booth at the Toronto Underground Food Market [...] my fingers cramping so severely from peeling 100 pounds of potatoes that I almost called 911. [...] I lost money So his first experience was extremely painful, almost landed you in the emergency room, and you lost money on it. What valuable lessons he learned going forward? > I didn’t care. None. > Eighty per cent of first-time resta…

To be fair, guys: find yourself in the right position in life and any act to try and enrich the thing you're calling life, enlighten yourself, and improve your lot will be considered irrational by somebody . Best take a few steps back. He's brazen, and maybe a bit dumb. I'd probably get along with calling him too proud, mostly. Now to reduce myself to platitudes: at least he did something. That's living. Who deserves…

> at least he did something. That's living.

Yeah, true. But...let's be honest, the thing he did was very destructive, dumb, and doomed to failure; he didn't get the outcome he wanted going in, he's not happy with the outcome he ended up with, and he's not articulated any lessons he learned from it.

There's a lot of things he could have done. He could have changed careers, gone back to university, backpacked across Europe, sold his house, put everything he owned in storage, and then circled the globe hopping from port to port on tramp freighters. Instead he cached out a chunk of his pension, sold his house, spent all the equity, borrowed money from friends, and basically spent every penny he and his wife had on pretending to be running a restaurant.

Commiting suicide is "doing something", so I guess by your definition that's living? That doesn't seem very useful of a definition. Meanwhile, I have a rewarding job I deeply enjoy, I spend time with friends and family, I have hobbies, I learn new things. Am I not "living"?

> Put his shoes on and just listen and learn from the experience.

That would be easier to do if he'd learned from it first. I think the point of making mistakes and "living life" is learning from those mistakes, and becoming a better person. What do I learn from reading about someone's fatalistic retelling of something he tacitly admits he knew was dumb? "Don't sell your house to invest in a project with no real upside and an overwhelmingly likely chance of 100% losses"? "Don't spend money you need to feed your kids on a vanity project which you've sabotaged for your own convenience?"

Re: I poured my blood, sweat and life savings into my restaurant. It ruined my life.

#166

Earlier quoted context omitted.

Sure, sure—but you're cutting one small phrase out of my larger sentiment. I know it's a dumb platitude. I said as much. I'd prefer the focus of my comment be the rest of it. I didn't think I had to break it down further, and I was trying to be cool and all that, but what I was trying to say is: [if you know that area of Toronto, the location he chose was not that out of the way business-wise, but it is a little bit…

I feel like this story really highlighted all the guy's flaws, and hopefully exaggerated them. As you say, he must've been doing something right. The story seems like he took a terrible risk he couldn't afford, he didn't prepare or research things well, and his endeavor failed largely due to his own shortcomings. Sure, he learned something and has a story. He also borrowed and lost thousands of dollars from his frien…

I hope the story was unfair to him; perhaps reality was more complex.

Re: I poured my blood, sweat and life savings into my restaurant. It ruined my life.

#167
post #76

> In 2011, I applied to operate a booth at the Toronto Underground Food Market [...] my fingers cramping so severely from peeling 100 pounds of potatoes that I almost called 911. [...] I lost money So his first experience was extremely painful, almost landed you in the emergency room, and you lost money on it. What valuable lessons he learned going forward? > I didn’t care. None. > Eighty per cent of first-time resta…

You know the story of the FedEx guy right? He could afford to pay the staff or put fuel in the planes; riveting speech; gambled the money in vegas and kept the company going. This guy is praised, but he was a fucking pyscho (literally). He didn't give a damn about his own staff and risked everything. He got lucky, made it big. If this guy had made it, we'd see him as a "The Hundred Foot Journey" style success story.…

The thing about the FedEx guy and his story is that, at least as the story goes, he had a 100% chance of failure if he did nothing, and a possible chance of huge success if he gambled. Betting his last funds was all upside for him, so he made a cold-blooded decision to maximise his expected outcomes, and it paid off.

The restaurant guy...not so much. He took significant assets (his pension, home equity, health, his relationship with his wife), and gambled them all on high downsides and very limited upsides.

> Maybe the only lesson is that he wasn't ruthless enough?

Ruthlessness is not a substitute for making very bad decisions.

Re: I poured my blood, sweat and life savings into my restaurant. It ruined my life.

#168
post #81

Earlier quoted context omitted.

While I agree deeply, it's kinda hard to get the right sort of experience without just jumping in. Owning and running a restaurant is very different from working at one, right? Same with software; I worked in software for a couple of decades before trying to start my own, and while it did help me with the writing software part, it didn't help me with the running the business and marketing and pitching parts. If anyth…

"Owning and running a restaurant is very different from working at one, right?". Not if you have worked in a restaurant as a high level employee(eg exec chef) for quite a while. (Exec chef here, 17 years experience)

That's a lot closer to the right kind of experience, for sure!

Re: I poured my blood, sweat and life savings into my restaurant. It ruined my life.

#169
post #165

Earlier quoted context omitted.

To be fair, guys: find yourself in the right position in life and any act to try and enrich the thing you're calling life, enlighten yourself, and improve your lot will be considered irrational by somebody . Best take a few steps back. He's brazen, and maybe a bit dumb. I'd probably get along with calling him too proud, mostly. Now to reduce myself to platitudes: at least he did something. That's living. Who deserves…

> at least he did something. That's living. Yeah, true. But...let's be honest, the thing he did was very destructive, dumb, and doomed to failure; he didn't get the outcome he wanted going in, he's not happy with the outcome he ended up with, and he's not articulated any lessons he learned from it. There's a lot of things he could have done. He could have changed careers, gone back to university, backpacked across Eu…

You're not all wrong. I live similarly to the way you describe. I'm certainly not setting him up as a model, or defending the subject of the story.

Do you know Toronto well? It might not be to learn from the lessons he has to offer, but may be something somebody (or many people) in this town need to hear.

Like I said, there are so many would-be anythings that fade into obscurity for one reason or another, for a cause that was their fault or not. Normally you just don't hear from them.

Everybody loves an unlikely success story, but are full of venom when shown the other side. Maybe nobody wants to believe it, and would prefer to believe that everything follows a perfect order and all you have to do is follow a prescribed set of rules and you'll be fine. I think the context is important—the story is a tragedy, not an ode.

Re: I poured my blood, sweat and life savings into my restaurant. It ruined my life.

#170
post #53
post #15

Earlier quoted context omitted.

Right and with that much work you know how to fix a menu so your food cost is managed. You know how many servers you probably need for that day of the week and how likely they are to disappear. You know how your staff will steal your booze, pocket the tips, or kill you clientele with a food allergy. You know how many people will complain and you will have to comp their bill. You know you should stock pile supplies be…

Same with the craft brewery folks as well.

And the fixed costs upfront, not to mention the legalities!
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