by Gerry McRae - © 2006
The other day, a young man called for help with his problem. "I want to open a restaurant BUT, I have no money," he lamented. Because I've heard this same plea so many times, I patiently offered a few suggestions and a course of action.
Following our conversation I began to reflect on another conversation I had years ago. That was with a very successful restaurateur who happened to be Greek. As the tone became more intimate, I felt comfortable enough to ask him why so many Greeks are successful in operating restaurants.
He, too, was patient as he explained how young Greek immigrants come here with little or no skills, no money and plenty of dreams. Lacking good English-speaking skills, they begin working as dishwashers and busboys in the restaurants of those Greeks who have preceded them. They survive on minimum wages, free food and, some even sleep on the premises. They toil long arduous hours, improving their English, learning cooking methods, waiting on customers and, experiencing all facets of restaurant management.
Then, he said something very significant. "You know, there's a saying, 'Give a Greek a fork and a bottle of ketchup and he'll open a restaurant.' " That summarized all that he was relating. It lingered in my memory as I continued to formulate The Universal Lesson for successful entrepreneurship.
Not having money to open a business most likely results from not having saved the money.
Many of us have earned revenue and chose to spend it all. To paraphrase Charles Dickens, "Income = $1.00, expenditures = $1.10, result - misery. Income = $1.00, expenditures = $0.90, result - happiness.
It's never too late to change. Borrowing without a base of saved money is not an option for starting a business.
Today is the first day of your new entrepreneurial life.
Regret not being an immigrant from Greece?
I first met him as a young Chinese boy when he arrived penniless in our city. He was escaping from a very bad situation that was beginning to send him down a path of failure. His mother had uprooted him at the age of eleven when she immigrated from China. On his small motorbike, he drove to our small city which is the first reached after leaving his metropolitan area and looked for a large Chinese restaurant.
He proposed to the owner that he would work for food and no pay on one condition. If, at the end of two weeks, the owner was satisfied with his work he would hire him at a full wage. He lived in a hostel where his motorbike and clothing were stolen from him. Later, he moved to another restaurant where the owner, also, sold real estate. Discovering the amount he could earn in commissions led him along the path to even greater business ventures.
You're not even an immigrant?
That doesn't stop you from acting like one.
When I was young, I blamed my lack of success on my misfortune of not being an immigrant. Fortunately, I realized this was a foolish idea. I had moved from a poorer region of my country. So, I reasoned and imagined I was an immigrant from an impoverished part of the world. My self image as an immigrant convinced me to work harder than others who were born in the big city with silver spoons in their mouths.
Worked for me! What's your excuse?
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