Eben Arthur, Los Angeles, New York discussed on The School of Greatness with Lewis Howes
Because we're in the business a fund. That's a challenging thing about the business of fun. It can be really fun but you better find the structure to it and if you're all structure you're boring. You're boring and then you're a widget company and then people won't come to your restaurants gyms or anything like that. So we went through this process of fourteen. The world told the way we did it was wrong and it snapped us back down but that was the best thing that ever happened to us because it allowed us an opportunity to retreat reset refocus probably get some coaching and mentors because again going from one to fourteen. Who's gonna tell tell you you're wrong. When everything you do is right as working is working so and that's important because if you came to me renounce it. I'd like to open up restaurant. I said i'm gonna say you're gonna fail. You didn't even tell me the idea and i'm going to say ninety five percent right just because you say you want open up a restaurant. It's going to fail so you really. We wanna make sure in the beginning you listen to that five percent really yeah. I get that most are gonna fail but that's not this. This is going to be different and you need that to be successful in the beginning but after a while you have to start understanding that i should probably start listening to a few more people because we know how the story ends yeah just like every athlete that makes one hundred fifty million dollars in burns it all. How's that possible their whole life since they've been five years old. They're the best at what they do. They're the best kid in their middle. Schools are the best kid in their high school. They're the best in their college. Why would they everything it's going to nj talents never going to run out -solutely why would they think of it ever gonna end and you can understand dandy now and even i can understand now. You get caught up and that's when you slap back. That's when you reset and with that reset. We found on this diamond. The diamond is catch and it wasn't four a._m. Nightclubs seven days a week it wasn't multi concepts mexican food and this wasn't multi see city it was catch and you're in new york city and that property was reshaped and it was led by great food great service great revive in that was put into place and our basic core principles of running the business take care of the staff staff will take care of the guests guess we'll take care of the bills in the past it was i need money so i'm gonna take care of you the guests and staff you better work because you're making money too so so i had it backwards and i take full responsibility for that in the past. I was the other thing. I blamed other. People blamed employees that worked for us. I blamed developers developers and partners and other other people but quite honestly i i made the decision to hire all those people so as soon as you take accountability and responsibility for your failures and other people may not have executed but you hire them. <hes> you decide to put him in that position. You chose not to pivot earlier. You chose to go down the path. You didn't instruct and inspect you cut them on for a year or two years hoping they change and hope it's not a strategy yeah and that that's a big one is not a strategy. I hope this works. That's not a strategy uh-huh that is almost just blind faith and occasionally bind faith works but i think if you're trying to be successful in a percentage game you need need more than blind faith fourteen to focus on catch expand to los angeles understand clubs nightclubs. Stop then then yeah you said we're done with a nightclub wasn't one moment where twelve places close but you know ten june in its eighth year. Stop being successful. We we gave it back to the our partners. Onus decay upstairs eben arthur's had run. Its course the club below. It has run. Its course atlantic city which was a two point four four billion dollar casino where we were doing incredibly well. The casino went bankrupt.