Sunday, January 17, 2010

The LBV Chronicles


Episode 2: The interview

“So tell me Jimmy, what made you decide to start a Soul band in Dublin?” Jimmy Rabbitte

Jimmy Rabbitte’s self-interview in the movie “The Commitments” was masterful, so I figured it would work here. The great thing about interviewing yourself is you get to ask the questions you want to answer. So what follows is a list of the most common questions I’ve gotten about starting the business plus some that I think should be asked.

So Greg, what made you start a business?
It was self defense. I was sitting on an empty building with no prospects of selling it and slim prospects of leasing it. I needed to generate some revenue and if it wasn’t coming from someone else then I guess it was going to come from me. I tried whining about it but my goldfish seemed unsympathetic.

Was having a wine bar always a dream of yours?
No, not really. Oh, I always thought it would be cool to own a bar. And if I had one I wanted it be unique, fun and different. But a wine bar? Not necessarily. Wine is like so many things, you think you know something about a subject until you meet people who REALLY know about it. Whereas I probably know more about wine than a lot of people, I don’t know a fraction that some of the people I’ve met know.

No, I used my product management expertise to look around town and see what we didn’t have and came up with three things that could co-exist and were personally interesting. Those were a classic wine bar, a great cigar store and a place to have after-dinner desserts and drinks.

Didn’t starting a new business in the depths of economic disaster scare you?
Scared wouldn’t be accurate. Terrified would probably be closer to the mark.

Actually once the decision was made the fear subsided. Probably because there was never enough time to think about it and partly because there’s great power in action. Goethe said, “Whatever you can do, or dream you can, begin it. Boldness has genius, power, and magic in it.”

OK, maybe a bit cerebral for someone like me, how about John Wayne, “Courage is being scared to death and saddling up anyway”

Did you have any experience with something like this?
None whatsoever, but that didn’t really bother me. I’ve spent my entire career being thrown into things of which I had no previous knowledge, new companies, new technologies, new disciplines, new cities, new countries. I’ve become almost immune to worrying about being ignorant. Of course, maybe I’m just not smart enough to realize how risky that attitude is.

Was getting a liquor license difficult?
Yes…and no. The state created a new license designed for redevelopment situations. Not only did I have to qualify but the city (Brighton Michigan) had to also qualify. I was fortunate that my city has embraced these and was able to provide me great support and guidance. Then I just had to follow the path. There were some classic head-scratching political hoops to jump through but to be absolutely fair I found the people within the Michigan Liquor Control Commission (MLCC) to be helpful, friendly and fair.

What are the most common compliments you get?
“This is exactly what we’ve needed around here”. “I love the atmosphere”. “Great wine list” “Great people”

What’s the most common criticism?
“It’s not big enough”

So, why didn’t you make it bigger?
The building was done it two parts. The original part – where the bar is – is a remodeled ex-gas station. It’s relatively small inside but has a great look for what we wanted to create from an image standpoint. It also has a great patio area. The “new” section that was built later is much larger but doesn’t have access to the patio area.

Part of the decision was practical. I felt the patio was essential and the smaller space would equate to a smaller initial investment. Although the move to do this was bold I wasn’t willing to take on the risk of taking on the entire space plus I had found someone to lease the larger area.

How did you find your people?
Well, how the person that became the managing partner came about is discussed in a later episode, so we’ll save that one. The others came primarily from Craig’s List. Evidently that’s the gold standard for this industry.

I’m very happy with the staff. They’re good, honest, hard working and fun. I really like being around them and the customers love them.

Did it turn out like you expected?
Yes…and no. Yes in that it has a really great look and feel to it like I expected it would. No in that it’s WAY better than I envisioned.

Knowing what you know now would you do it again?
Absolutely! I would just do it quicker. I spent a lot of time dawdling while hoping the building would sell. I now wish I would have moved swifter and opened earlier. However, in an upcoming episode I’ll discuss why that might have ended up not working out as well.

What would you do differently next time?
I’m going to discuss that later.

Why do you keep putting answers off? I already know what you’ve written.
Yes, but I might change my mind.

Whatever. Thanks for your time Greg.
You’re welcome.

Next: Episode 3: Decisions, decisions everywhere

No comments: