Entrepreneurship is a game of passion and unbreakable dedication. And my guest today is one of the most dedicated and successful entrepreneurs I know. His first business venture was back in 1983 when he and his brothers started Jacobs Bros. Bagels in Chicago. After eventually selling the bagels business, he stepped into the pizza industry build one of the most successful pizzerias in Chicago. BillJacobs, the founder of the award-winning business Piece Brewery Chicago, joins us today to share his wisdom on starting a business, overcoming obstacles, and becoming successful as an entrepreneur.
Products and Operations: The restaurant business has always been an extremely competitive market. When asked about how he got successful at it, Bill talks about some of the key things a restaurant needs to get right, such as having the necessary products and mixing them with the right set of operations such as marketing, delivery, keeping in mind the numbers and economic factors such as costs, fixed costs, and other similar overheads.
The Secret Behind a Great Culture: Bill explains that the secret behind his great culture is empathy, treating every individual with dignity, love, and respect. He emphasizes why employing people who share the same feelings is important. He talks about how the feelings of being in one team and being involved not just physically but emotionally as well by looking out for one another contribute to a great workplace.
Adaptation is the Real Evolution:Bill discusses the importance of evolving through adapting to changes and challenges in any business. Keeping up with the latest trends, jumping into creative bandwagons, getting involved in worthy collaborations, pooling into the social well-being of the general public through charity programs are things Bill and his team were highly involved in and have excelled in order to keep the business front.
Work-Life Balance: Although it is very important to take a business seriously all the time, Bill emphasizes that having a defined path, a way to do things without micromanaging every little thing with the employees, is the way to having a perfect work-life balance. Quoting some of his recent personal experiences, Bill explains how through time, he learned a lot of things, and especially with the covid outbreak, he has only begun to utilize his free time apart from the business, spending quality time with his parents and cooking for them.
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Here are my three insights for thriving
- As we grow, we are going to make mistakes. We are going to experience failures and setbacks, and challenges. And that is okay. It’s all part of the journey to becoming who we are today.
- Rejection is part of the game, but find what you believe in enough to persist through it. That belief will fuel our confidence and our persistence.
- I loved when Bill talked about finding ways to stay fresh and continuing to grow. I think that that is not only great advice for business but for our lives as well. I think about the times when I’ve been most energized in life, and it’s usually around times when I was truly engaged and growing in some way. And, for me, it can even be a simple advancement of a skill or hobby or sport. Like tackling a new hill in cross-country skiing. Just something that pushes me forward a bit.