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Founders: #20 Danny Meyer (The Transforming Power of Hospitality in Business)

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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) ---- Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ---- “I have listened to every episode rele

[00:00:00] I was born to go into business for myself, and I was destined to find a business that would allow me to share with others my enthusiasm for things I find pleasurable. My cravings for the adventures of travel, food, and wine is what first compelled me to do what I do. In fact, like so many other entrepreneurs I've met, I'm not even sure I had much of a choice. A career in the restaurant business was going to tap me on the shoulder even if I hadn't found it first. This is not a typical business book, and it's certainly not a how-to book. I don't enjoy being told how or that I ought…

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