Some feedback please!

[tomj1007]

Hey Fellas
my first post here , iv’e been reading for around two weeks and came across this peticular thread as it started.
I am compelled to respond since Steve’s story hits me square between the eyes and i can feel for him almost certainly to the SOUL!!!
Having been "partners " with my father for 19 of 23 years in pizza, i am well versed in the non-equal dealings that occur in that partnership…
recently , the wife and i have been aproached with a bussiness opportunity to break away…and i will do so screaming all the way!!!(just jokiing)
Steve, i fell your pain,brother…long story, my father is an ex - cop, controll freak, and now boardering on dellusional behavior( he is over 70 ) igot into bussiness with him when the origanal owners of “Bobbios pizza” wanted to make me partner and open a new location…witha $10,000 investment, i was 19 and had very little credit…i turned to my father for funding, which he agreed and short 3 years later had retired from law enforcement to open evn a third location…on that faitful moment, i lost all control of my place ,which he assume control along with his store …i was mearly a manager, one withless control than even the 1st location!!
I feel that i had all the passion that you describe,steve …i eventually left for seatle and left all i had built behind to try something else( iwas still only 25)
eventually my store folded in his hands,although years later, his own store became profitable ( he got POKER MCHINES )
i was “persuaded” to come back and help in 2000 and all seemed well, at first…
2002 …got married, the wonderful person i married is college graduate and knows a good thing when she sees it!!
through her connection, we are on the brink of a new store and can’t wait to show the world what i can do…tyhrough trial and error, i am a stronger man and better owner than ever
i pray the same for you ,steve

 

[steveo922]

HOLY POST BATMAN!!! :shock:

I can’t wait to read what you guys posted when I have time late on tonight…

Before I do read it tho I would like to say thanks to everyone once again!

Its just absolutely AMAZING that you guys are so intrigued by my story and so inclined to take time out of your busy schedules to help those in need. I’m so appreciative by all the reactions, advice, and help from each and every one of you. Its truly a blessing, and I really think every post has helped me more than you guys can imagine.

 

[Bubba]

We’re like a big happy FAMMMMIIILLLLYYYYYY. With a couple of nutty uncles and weirdo cousins!!
I have been on this board for close to 3 years, I have learned so much from here that I should be getting CEU credits. haha ( that’s continuing education units).
Bubba

 

[PokerDealer]

Dewar's Pizza Bakery:

Wow, Poker Dealer! 1,995 words! :shock: !

Dang! If I had known, I would have thrown in 5 more.

I believe it was Blaise Pascal who once ended a letter by saying, approximately, “I’m sorry I wrote such a long letter, but I didn’t have enough time to write a short letter.”

Anyway, I’ll try to encapsulate my too long poker analogy.

The business you’re operating is worth considerably less than “the best of everything†equipment and its build-out cost. The business you’re operating is presently worth X dollars. Unless your sales and profitability rise, its value will steadily decline. On the other hand, if you’re able to grow and prosper, it could easily be worth 2X or 3X dollars in a couple years.

While your partner may or may not be emotional about the money he has put into it, at present it is only worth X dollars. Leaving all tax consequences out of it, it doesn’t matter if the total investment so far has been $60K or $120K. It’s only worth X dollars, whether it is $30K or $40K or whatever.

Your goal is to make it successful. If you do, in a couple years it could be providing you with a good income and have had a value increase of $30,000. or $40,000. or $50,000. or more. Is it worth it to risk 6 months of marketing, say $5,000. total, for a potential return of $40,000. or $50,000.? If your return is 9:1 or 10:1 then as long as your chances are 1:8 or better, then the risk looks worthwhile. This is from your father’s point of view, assuming the additional money doesn’t represent a big opportunity cost for him. Would not having that $5,000. deprive him of some better opportunity?

From your point of view, it is a much more serious opportunity cost. You won’t be able to do anything else while risking all your time and effort on this business. Your dad could still take advantage of other opportunities. Does he have some other opportunity to risk $5,000., with no labor on his part, to possibly return 10:1 or better in 2 years? I realize that you expect to get the business for yourself someday, but I needed some way to explain the risk vs. potential reward.

Can you come up with a marketing plan that would cost 700 or 800 or 1,000 dollars a month that would prove itself worthwhile in 6 months, with at least an 11% chance of success? If it works as you project, can it become self-sustaining in 6 or 7 or 8 months so that it would no longer need to funded from outside? Remember that the resultant immediate business from effective, efficient marketing will offset part or all of its cost from increased sales.

There is no casino pit or machine game that offers a 10 for 1 payout with a chance of success for the bettor of 1 in 9. The house would go broke.

 

[pizzafanatic]

I’m All In! :lol:

 

[steveo922]

Wow guys. I have to say, I cannot believe the turnout I got from this thread. This is just, plain ol fashioned, awesomeness. I’ve worked every day since we have been open, open to close with no days or time off (not to mention gotta be up in less than 5 hours and do it all over again), but this definitely helps makes it all worth while. This whole experience has got to be some of the most rewarding reading and advice I’ve ever encountered in my life. Such an astounding display of contributions, its almost unbelievable.

Pizzafanatic - I look up to the fact that you noticed our ‘relationship’ and considered that into you thoughts. I have not yet decided what I will do with him, but I’ve been thinking about it a lot since alot of you guys made it clear that he is a huge upset in our financial state right now. That is a great idea about just simply talking to him about it. Maybe he will understand, maybe he won’t. Hopefully hes willing to stay for less hours and less pay to help a friend while becoming compensated in the long run. And I understand business is business not only just for me, but for him too. If I cut his his hours and his pay, he has every right in the world to look elsewhere for work.

Nick - Talk about getting my money’s worth! Holy cow! But believe me, I knew before I started this venture exactly what you say about the pizza biz being not for the faint of heart. And yet, here I am today. This thread is filled with great information that anyone could benefit from.

Thunderman - I’m so glad to hear you made it out past your construction and to a point where you can give your managers bonus’s. That is very hopeful. My goal from day one was to get a loyal customer a day. That is great advice.

Pokerdealer - I’m going to do the exact opposite and write something short. Wow, just wow. I gotta admit, I browsed over it briefly this morning and wondered if I was going to make sense of it when I actually had time to sit down and read it. But it made PERFECT sense, and I rarely play cards. But my father does
:lol: So I think you may be talking his talk.

Tomj1007 - Thats cool that you decided to come on board for your first post to relate. Its nice to know I’m not alone. It sounds like you learned a lot from your experiences and good luck with your future endeavor!

 

[aks801]

There’s a book (actually, now a series of books and online resources, I believe) called Guerilla Marketing. I recommend you buy a cheap used copy from eBay. It has tons of ideas and methods, most of which involve maximizing limited marketing resources.

Best of success to you.