Transcript
A (0:00)
Nearly 90% of kids who vape say flavors are why they do it. If there weren't flavors in these tobacco products, a lot of kids wouldn't get as hooked. Urge lawmakers to pass Senate Bill 702A. Learn more at flavorshookoregods.org paid for by the Campaign for Tobacco Free Kids Action Fund.
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This is Scott Becker with the Becker Private Equity and Business podcast. Today's discussion is coffee shops as a metaphor for business. And so we visit in our hometown different coffee shops constantly. And it's sort of, it's, I do my work a lot in coffee shops. I do my writing, I do my outlining. I live in coffee shops. And one of these you get is this metaphor for life and business. So we spent a lot of time at a coffee shop called Hometown Coffee and Juice. This was built out by a lovely couple, Lou and Julie Rubin, who midwife were trying to figure out their next thing to do and decided to do this. And what they've done in it is they've invested in it. They've built a great team. They built beautiful spots, they serve great food. They've made it sort of a go to place. They've really made the effort. It's much like if you're building a company, you have to make it a go to place, a great place and not an okay place. They have done a remarkable, remarkable job with this. In contrast, we go to another coffee shop that will be remain nameless. It's also an island park and we like it. We go once in a while, Liz and I, we have a cup of coffee, we do a little bit of work. But what's clear is it's always staffed with one or two people. You get coffee there, you can get some pastries and stuff like that. But they've made no effort to make it a destination, to make it a place of greatness. And maybe their business model is trying to sell really more retail or distribution or whatever they're trying to do behind the scenes. But as far as I could tell, unless they're really trying to do something in back that they, they just like made it. So it's very okay, we like the coffee fine. But they're never going to get over that hump of being anything more than a business that barely gets by unless they try for greatness. And that's the concept, whatever business you're in. I just, I cannot applaud enough what Lou and Julie Rubin have done. I cannot applaud enough what Ballyhoo Hospitality has done up in the North Shore, or quite frankly, one of our favorite restaurants has done Guild Hall. Constantly trying to make it better and better, but really investing it, making the places great. Not just good enough, not okay. It's really the same thing you have to do in business if you're going to build a great business. You better build a great team, you better build great people, you better really make it go at a whole different level. We reflected on this this morning as we're visiting a different coffee shop, not Hometown. Don't worry, we'll be back in Hometown soon. But it's so clear the contrast and who's made the effort to really invest in their business and really try and do it right versus who's just getting by. Don't be that person getting by. If you're going to do something, try and do it for greatness. Thank you for listening to the Beckham Private Equity and business podcast.