Three lessons from James Hoffman about starting a business: 1. (0:50) Start with more money than you expect. This flexibility will prevent you from compromising your values or your business. 2. (2:05) You can't work hard for extensive periods of time. Work smarter, not longer. Don't fall into the trap of being a 'hero' business owner. 3. (5:30) A business is not a family. Running it like a family will cloud your judgement and impede long-term growth.
@shad0w123465 жыл бұрын
Please more business focused videos. I feel like the realities of running a coffee business are often overlooked in our industry's online content.
@larax74924 жыл бұрын
So you can join us for more business videos and also more business mistakes you have to avoid. You will not regret!
@ThePinoyDrinker3 жыл бұрын
Agreed.
@fareedjacob5 жыл бұрын
I started a business 6 years ago with 3 of my friends and in 2 weeks we're closing. If I wanted to talk about my 3 biggest and most deeply regretted mistakes of myself in these years, They would be exactly like yours. James you're awesome. Thanks man
@hadiwid0d05 жыл бұрын
Same here. 👍
@fareedjacob5 жыл бұрын
@@hadiwid0d0 sadly 😣😔
@hadiwid0d05 жыл бұрын
@@fareedjacob i'm work from 8 in the morning sometimes until 3 in the morning. And it repeat again. Take this as our experiences mate. Hope you find your way to success 😉👍.
@kevburrows19555 жыл бұрын
Spot on,, listen well ye who dream of doing the same thing. It's hard and painful and that's when it's going well.
@randynovick79724 жыл бұрын
Working my way through the back catalog and found this one. The one red flag I look for every time that I'm searching for a new job is whether they call the people at the company "a family". I don't want a another family. I want to work cooperatively with people on a shared vision, not a family.
@UmamiPapi2 жыл бұрын
And if they say they’re looking for a rockstar or some such it means they want to suck your blood.
@JelleHanssens5 жыл бұрын
My god. I started a Belgian cafe in Japan a bit over 3 years ago now and I am still feeling the consequences of these 3 mistakes each day. Every single one resonates with me personally. This video needs as many shares as it can get.
@Matusevichfilms5 жыл бұрын
The family one resonated for me, as someone in a family business.
@hoeves30015 жыл бұрын
Completely agree.
@jameshaulenbeek59315 жыл бұрын
Having worked in family business, and currently working in a commercial industry for a company that says that we're "family", this definitely is a VERY powerful message. Keep business as business. It can be fun, people can joke around and enjoy what they do, they can be friends... but they need to differentiate between what or who a work friend is and what or who a personal friend is.
@JSpradley1234 жыл бұрын
I'm learning that one too right about now...
@sordel58664 жыл бұрын
My mother has a saying: “when you work for a family business you always work cheap”.
@wildhearses4 жыл бұрын
There's other ways to make your employees feel valued.
@HereForTheStories2 жыл бұрын
James what I like about your videos is that people don’t have to agree with you but one is able follow your reasoning. This is almost more important than the absolute “is he right or not?”
@jsteele071895 жыл бұрын
When your boss says "this company is a family," they don't mean that everyone takes care of one another no matter what - they mean that everyone obeys the patriarch no matter what.
@LumbChu4 жыл бұрын
@Black Box Barista no u
@amarpaul_s4 жыл бұрын
Your comment is nice as a joke, and I'm sure it is applicable to some companies. But the danger of building a "family" dynamic as pointed out by James here is that it compromises the functioning of the business. Employees are not your friends, and don't expect to be. If poor decision making results from this, or prevents the leader from confronting problems directly, then it can damage (or destroy) the entire company. And when that happens, ALL employees suffer from loss of livelihood.
@beatsbyrooz26324 жыл бұрын
Cenot4ph don’t fuck around with some “we are a family bullshit” then. That’s a very manipulative way to manage employees, just be straight with them. Otherwise you moving like a bad business owner
@bengerber45424 жыл бұрын
@@Cenot4ph yes, it is very hard, but that is why you don't lie to them and say that you are "family." You have to do what is best for the business, but you also have to be an ethical employer. Saying that you are family is just a way to manipulate people. Even outside of business. "work overtime for free as a favor because we are family" "give me some money, we are family" "We are family, I trust you to take care of xyz" None of it is good business practice or sense. Hoffman nailed some of the good reasons why it is damaging to the business, but it is also damaging to the employee. It's pretty much a lose-lose as a manipulative attempt to instill company loyalty and boost morale with exploitation on both ends.
@crietzsche4 жыл бұрын
@@Cenot4ph You're arguing a different point than the one jsteele made. The point is about using guilt to motivate employees. Get on the same page before you start ranting about socialists.
@moi77485 жыл бұрын
Really agree with you about "Time". After 6 years, my plumbing business was flourishing but I was so fed up not seeing my wife and kids it was making me depressed. Sometimes people say I was crazy to give it all up, but I just say to them, "Today I work a 40 hour week, but when I was working for myself I wasn't even sleeping 40 hours per week". I completely changed jobs, I love what I do now and don't regret one bit giving it all up!
@Getafjord5 жыл бұрын
Oh wow! Great analogy, I can relate in so many ways! Those 3 mistakes are the exact same major mistakes that I felt we did, I ended up selling my shares after just 1 1/2 year. Working 16h a day 6 days a week in your own business is all fun in the beginning! Makes you feel so wholesome for a short period. It is possible to work that much but never something I would recommend. It screwed my mental state, made me always think about what I could do better. The weirdest thing is that I usually just slept 3-4 hours on average work nights, because when I went to bed, I would just lie there thinking about "what should I do tomorrow?", "what should I do differently?" and "what are we doing wrong?". I did a couple of more mistakes going into business with one person I didn't know at all and the other being a friend. So one didn't trust or have faith in the other partners, and the other having no clue about running a business at all, made me crazy. If I were to start over, I would have started with more money, and the guts to hire enough people to make the wheels turn a little smoother in the beginning. In the beginning I would have started by myself, giving a lot more freedom in choosing future partners. That way I could have a better way of knowing wether or not this partner would be able to bring something to the group. I would be focussing on creating synergies even before starting up a business.
@mattofinney29135 жыл бұрын
Been in business 11 years and can attest to all 3 mistakes. Think it's important to qualify all the advice with "I will tell you all this, but you won't succeed unless you test the limits of all 3 practically." I think they're important to be told in advance of starting a business, but not sure you can soften the lessons hugely. Most of us think we know better, until experience tells us otherwise. Cracking work though fella. Keep it up. :)
@CoreyMcLeanLeitch5 жыл бұрын
I run a high end beer bar and used to manage a family owned music store and your family point rings so true. It is easy to want these people to be your family if you all get along. You spend so much time together that it just naturally starts to feel that way. But every time it does the same problem inevitably follows: you lose the ability to be critical of each other. Just like you said; emotions start to run high in your relationships and when you, as a leader, need to correct a team member’s work or attitude it becomes a very personal thing. You don’t have the benefit of growing up with these people and having a lifetime of work done to create the common understanding a family might actually have. You don’t have the permanence of a family at the core of your relationship. It is so easy to fall out of love with what you’re doing when you feel personally criticized by someone you care about. I agree with your point entirely that close, personal relationships are a wonderful part of working with a small team, but they have to be based on mutual professional respect, not on some emotional, proximal feeling. One of the things I love about watching your videos, James, is that no matter what you’re talking about I can always find some universally applicable thoughts. Even when you are literally reviewing coffee equipment I find myself walking away with some insight into my own beverage world. Thanks for the videos!
@samuelbender86814 жыл бұрын
I resonated with this video a lot. In the first years of our businesses I was overworking myself, we didn't have any capital, and once we opened our first cafe our culture wasn't what we wanted it to be. For other people watching this, focus on getting your business back on track before the thing you love becomes the thing you hate.
@DanCatJunior5 жыл бұрын
Great video with some really important messages. As a professional working in the field of clinical psychology, I would like to say burnout is a serious issue that did not get enough attention. Thanks for the shared experience!
@rossjason46625 жыл бұрын
Loved this! The other issue I see many of my fellow entrepreneurs face, especially the younger ones, is attaching their ego to the success of their business. When things are going well, they’re over the moon, but when their companies fail, they fall into a very dark place because they feel they’ve become a failure. This is a particularly dangerous mistake to make and I wonder if you have any thoughts on that? Loved this video but as a new sub I haven’t figured out what exactly your business is/was?
@FrogRider5 жыл бұрын
Great video again! Glad I was working till 3am to see it the second it popped up. Also glad it popped up the moment I had to restart my computer for updates. Truly impeccable timing. Having worked for a small mom and pop shop years ago, I couldn’t agree more about your point about family. It’s great in some respects but can cause some serious issues in other ways. Especially when something goes wrong and it messes with the dynamic of the work environment. Thanks for the book recommendations I’ll check it out, since I have been slowly starting a roasting side business.
@jameshaulenbeek59315 жыл бұрын
Excellent, powerful message! This honestly extends far beyond entrepreneurship and starting your own business - this encompasses everything from small businesses to large corporations, and I think it represents what a large majority of workers face throughout the world, regardless of the business or industry they're in. Companies love to tell you that you're "family". When the workers think they're family, believe they're family, they're willing to put in that extra time and to go above and beyond what's really necessary - whether in an effort to make themselves more money, or to grow the business and help the business flourish. Ultimately, we need to be able to set healthy boundaries (personally and professionally) in order to keep work separate, and allow ourselves the time to enjoy life.
@lantermandrums5 жыл бұрын
the family business is something i’m very familiar with. it had become negative for me and so i had to leave. you perfectly described how i felt. i felt like emotionally lost something bc of the loyalty i felt. thank you for this video james. i really love your videos.
@jesseskogen27875 жыл бұрын
I’m in the process of starting a coffee business and these three things I completely agree with, thanks for helping me confirm these ideas. Many people tell me otherwise, so it was great to have these words from you, someone whom I respect as a business owner.
@jameshoffmann5 жыл бұрын
Best of luck!
@tl35095 жыл бұрын
I ran a business in coffee too and I agree with all 3 points. And you are right, unless you have been through something similar, it is hard to explain and understand.
@marshad822 жыл бұрын
In Poland there is a saying: "With family you come out best in pictures".
@noohoozfurra5 жыл бұрын
Had a cafe/restaurant for 10 years (25 years in finance before that) and whilst I'm laughing on the outside, I'm crying on the inside, as I recognize all of those points you made, James. I still work within the sector, though I don't find it any less frustrating (probably more so!) when I see businesses being run in some very bizarre and obscure ways and whilst I love to assist, I find many small business owners are deeply suspicious of my motives and highly protective of their 'empires'. "I just want to help" doesn't seem to cut it, though they love the fact I'll work in favour of their businesses, when others won't! Hey ho. Anyway, these insights of yours are little nuggets of gold and I hope owners/potential owners, value them...
@auralynn38625 жыл бұрын
Been splitting hairs down to the atom and drilling anything and everything possible down to clinical atoms since grade school for reasons like this as well as mental health struggles. When you're dealing with trauma survivors, that suspicion is everywhere. "Why are you helping me? It's a trick. You just want to hurt me like everyone else" is a prevailing instinct. So you find a way to reassure them with facts instead of platitudes. How do they benefit you? How does helping them benefit you? What IS in it for you? Sometimes it really does boil down to "it makes me feel good." Sometimes you should lean on philosophy. "Noblesse Oblige" and Meditation XVII have become life-long mantras. Sometimes you should try and identify the finest ways they could possibly benefit you, both short term and long term... turn your kindness into an investment so others don't narrow their eyes at it. Perhaps you hope they'll return the favor someday. Sometimes you just want to bolster your town so there's one more good and wholesome business in the world. One more place for people to find a job. One more place your friends and family can find what they need. One more reason to keep violence off the streets. Even "I just want to help" comes from somewhere... has an inspiration, a reason, a backing philosophy. Even if it's just a matter of having associated helping with pleasure and self-respect. Even if it's atonement for some real or perceived mistake.
@adorinadorin3 жыл бұрын
But would you take his errors in heart and really tried to avoid... now its also your experience.
@MeiinUK2 жыл бұрын
Fantastic input Colin. If this happens... just say it along the lines of...."did you know this REGULATION... or TAXATION....." Threaten them, really lets them consider and change their attitudes asap. It works. Especially those who are serious at a business.
@darthchua5 жыл бұрын
"Actually, I think that rogue but of hair looks great and isn't at all distracting"
@Aerouu5 жыл бұрын
360p video FTW
@JasperJanssen4 жыл бұрын
I did not honestly notice it at all.
@MacMcCardle4 жыл бұрын
I didn't notice it until your comment and now I can't unsee it
@daltoncanter5 жыл бұрын
James, thank you so much for this video. I’m in the process of starting a coffee business right now and being able to benefit from all this insight is quite the blessing.
@ethanmccormick32715 жыл бұрын
I love your business videos as someone working towards opening a brewery I find them very insightful and honest
@seanjennings31345 жыл бұрын
Every time I see a James Hoffman video, I often believe it was made just for me! I'm in the middle of starting my own business. To have this effect on me, James you must really know your audience! Excellent work!
@teletubbiestunetwister95703 жыл бұрын
Wow!! Yes. Please. More of these. Your point about the family was so spot on. And you said it beautifully.
@amarpaul_s4 жыл бұрын
Thanks for sharing your perspective, James. Speaking as someone who has successfully run two businesses into the ground, I truly wish I could have heard this advice 25 years ago; it would have saved me at least 15 years. I love your coffee videos too, but I would be grateful if you kindly continue to share more advice like this.
@xX1CEXx5 жыл бұрын
we need more stories
@portakeeper2 жыл бұрын
Just ran across this, and item #2 resonated with me. Appreciate!
@c_woelfl5 жыл бұрын
Where was this film about two years ago before I started my cafe! James, you nailed it 3/3. Looking back on it (I've since sold the business) probably your last point with the family dynamic was most likely my biggest problem as we were such a small 'team'. Thanks for putting this together. I was nice to look back with perspective and know that it wasn't only me that had made these mistakes.
@braddoherty59842 жыл бұрын
I have recently become a business owner (not coffee related business), I found this video both interesting and informative. I was fortunate enough to take over an existing business where I had worked for nearly 20 years, and with that came the mentorship of the previous owners, which has been invaluable. I agree with all the points you make. For me, I feel the most important part is having a great team, having staff you can trust to do the jobs they are assigned is probably the single best stress saver. Less stress means you can focus on what you need to focus on to give you the best chance of success. I have also been pretty lucky thus far, and haven't made any really big/expensive mistakes yet, though I am sure I will.
@coffeewinkscoffee50314 жыл бұрын
Absolutely! Agree with most stuff you said. Many times I am not able to split the difference between the personal side and the business side with my employers. I always preach about it but when it comes to put it on place with myself it just doesn’t really happen! Thanks for your videos, making me think a lot and many of the mistakes you had when you were younger are the ones I’m going through now and didn’t understand really why. This is so helpful!
@sandyguillot7311 Жыл бұрын
Actually I think that rogue bit of hair looks great and isn’t at all distracting I know I am too late but I didn’t see it in the comment and this last part of the video really made me smile :)
@Hossein7r4 жыл бұрын
I've watched many of your coffee related videos in the past. Judging by the level of sophistication in your speech, very careful selection of words and excellent pacing, I guessed that you must be an intelligent, knowledgeable and well read person. I really liked the books you introduced in this video. Looking forward to hear more things beyond coffee world, more stories about running a business and failures and of course some book suggestions!
@robertmartin5134 жыл бұрын
Please do share your wisdom with us. My wife and I have been brainstorming a business for a while and are hungry for knowledge. Sharing your experience with your community is a priceless service to the betterment of any who would listen.
@StroboPyrzy2 жыл бұрын
Thank you for the honesty. It’s really good to hear and might teach many of us a thing or two. Thanks!
@francasariego5 жыл бұрын
Totally agree. Started passionate about cooking. That drove me my own restaurant. Since then, i see cooking as a "not my thing" task. Too busy with all the bussines tasks to still feel passion for cooking, but still in love with my bussiness.
@zbyswitta2 жыл бұрын
Wow, I'd definitely like to hear more about the business lessons from a person that seems to have all the topics very well thought out and crunched out. So yes, this comment is a little bit late, but more lessons please. You created a fantastic channel. Im not that much into coffe, but your content is amazing. Great job!
@bengriffin51463 жыл бұрын
My favorite video on this channel so far and so relatable on so many levels. Thanks for sharing, James! Please share more business contents! We all learn something along the way.
@martinbeltran90545 жыл бұрын
Started a specialty coffee shop with business partners and got robbed of not only the ownership but precisely these points you talked about(time/money), on the “family” aspect I couldn’t agree more as well, it does bring a considerable amount of dysfunction to the already tedious equation of forming a business but at times this is not evident as we passionately try to transmit the enthusiasm and love of what we are doing and tend to use interpersonal relations to be more effective at this. Thank you James for sharing this, it resonates in many levels with me and hope it can help those with the passion and initiative of starting a new business or just anyone with the dream of creating a business.
@jameshoffmann5 жыл бұрын
I'm sorry you had a terrible experience like this - I hope it doesn't put you off creating something else in the future. Thank you so much for sharing so honestly and openly here!
@Tesrob4 жыл бұрын
Oh my god thank you so much for the recommendation of the e-myth revisited. This has helped me understand my boss (entrepreneur and technician) and myself (manager) so much better. We have been working on kaizen and it keeps fading over time. But now I finally understand what is going on. I never would have sprung for this book without your recommendation and it is 100% worth it.
@Likeacannon5 жыл бұрын
Three years ago I left a stable non-coffee job to jump back in the industry and start a small coffee shop inside my friend's bookstore. I was ousted by the landlord right before I was able to open, but I know I didn't have enough money and I didn't know how to manage my time rightly. Thank you for this, and I hope you do more of these.
@GlowGlobe5 жыл бұрын
This was great, James. I'd love to hear more of these stories and your general philosophy. Very informative and insightful. Thank you for doing what you're doing 🙏
@Galdorik4 жыл бұрын
Hi James, I do not own a Business, although I work freelance, which does relate in some ways. But one of my relatives is planning on building one, and I'm sending him your video right away, as I really felt that the 3 "mistakes" you shared were interesting. I particularly value your sharing of what in hindsight you'd do differently; that was such sound, no-nonsense advice. Thanks a lot for that, as well as what I also learned from you re the Mocha, a great friend of mine these days :)
@andrescastano99484 жыл бұрын
Agree 100%. It happened to me back in 2018. It messed up friendship and workforce that believed in the project. At the end there wasn't cashflow ... everybody just jumped out of the boat and a lot of resentment and misunderstanding was the byproduct of not managing properly those 3 elements. Loved your video ! Thanks for sharing.
@richackerman97825 жыл бұрын
Hindsight is always clearest. I've owned and prospered with Woofies Gourmet Dog Bakery for over ten years and Coffee and Canines for just a few weeks(a coffee shoppe where our customers can come in and get a great cup of coffee with their dog and enjoy the company of like minded folks). I've made all the mistakes mentioned here, the most important lesson I've learned is to learn from those mistakes and to be resilient. I do want to thank you Mr. Hoffman these videos struck home in this American. Further I consider you a resource and a mooring point in the day to day craziness that is endemic in today's hectic world, thank you. By the way we work four days a week and use the other three to create product (we sell out completely weekly), clean, maintain our lives and make the experience perfect for our valued customers. Lastly (sorry sir) don't read a book...write your own.
@macktrustable2 жыл бұрын
My favorite coffee guy dropping business videos very nice. Learned so much about coffee from you. After watching your caffeine video I realized I was over consuming and cut back. Thanks
@allancoxaustralia35214 жыл бұрын
First, thank you for being open. Having had a business (not coffee related) this resonated with me. I agree with what you had to say & like you make just about the same mistakes. We all make them and hopefully learn from them.
@neilrobson64154 жыл бұрын
Same three mistakes I made James...burnt me out and took me two years to reset and get back to being healthy and the joy of coffee again. So on point.
@weeerandomaccount5 жыл бұрын
The family one hit me hard. I'm currently working for some amazing people, but feel like I'm stuck in a place that I can't grow anymore. I haven't left cuz I really like the people I work for, but there's nothing for me to gain as far as experience and growth, and I'm starting to resent them. This was an eye opener. Thank you, James. As someone looking to try and open my own business in the coffee industry, I appreciate everything you do.
@Pekz00r4 жыл бұрын
Yes, I agree with this. Money really makes it a lot more comfortable and less stressful when you get started. You can hire help with things you are not good at or that you don't want to do. You get a lot more head space for both reflection and thinking ahead. That is very bad for the business. I haven't experienced the problems with the last one so much, but I have experienced something related a lot. Founder very often get too attached to their business which clouds their judgement on what is best for the business. They can't delegate without Micro managing or they can't step down from the CEO position. They also can't let go from a failing business because they invested so much time and money.
@MincraftEgo4 жыл бұрын
I agree with all your points, especially with the last. I always try to keep it on an professional level, my parents don´t do that as much as I do and it had led to tensions with some of their employees in the past. One of the benefits of the german language is, that you can devide the word you, when speaking to someone, in two different words, a formal one (Sie) for persons you are not familiar with or meet on an business level, it is a very respectful way when adressing someone, and an informal one (Du) that gets used when speaking to your family members or friends or to children and teenager, it´s much more personal and not that formal and respectful and some companies took this informal form in adressing someone in an business context, what i see as an mistake inside the company and as customer it often feels very inappropriate. It helps to keep an healthy distance between yourself and your employees, as it is very respectful and everytime it is used it draws an line that tells every participant in an conversation that there is as line to the private live that cant be crossed and that you respect that line and it tells the customer that you appreciate them.
@snookandrew5 жыл бұрын
Good video! I agree that the hustle culture is a big problem, a bit of a hustle is good but too much is damaging. I have a side project that I’m working on (when I have the energy and time) and love hearing about how people started their business.
@IamArroyo5 жыл бұрын
I really like the way you present information in your videos James.
@raptorone73274 жыл бұрын
Hi James I’d just like to say thanks for this video. I had my own coffee business 5 years ago and made these same mistakes! It was tough working so many hours because of not enough money to start with and working all hours myself. My wife became seriously ill during that time and to try to keep the business going and deal with her illness was extremely difficult. I could not do it and chose my wife and family. Luckily I sold the business and got something out of it. It’s good when people put up stuff like this, just to emphasise thing do fail for so many reasons,you can always start again at some point either in the same thing or take your hard earned lesson on to something else. I did love having my coffee shop though. Thanks once again. 👍
@mike8pierson4 жыл бұрын
Recently started watching your you tube. very enjoyable. All three resonated with me. Like all the episodes. Cannot wait to watch more. I am going to watch the video again and seek to find more insight and reflect on it for helpful direction going forward For a long time I had to drink only Maxwell House coffee. That was it. A long time ago I had a very good cup of coffee in a restaurant "mocha java" and really enjoyed it but did not have another cup anything like it for a long time. I then learned that coffee beans can have different flavors and it has never been the same since
@thefatiguedpalate5 жыл бұрын
Thanks for the valuable insights James, very honest and vulnerable thoughts :) Definitely want to hear more insights about the business aspect of coffee!
@scottharwood95783 жыл бұрын
I opened my business in September 2020. Middle of a pandemic. Hired family. Worked constantly. Had little money. By god do I feel these lessons. Made hard decisions before December. Had to let family go. Cut costs affecting quality. Closed an extra day of the week to have time at home and with friends. As a business owner and aspiring barista, you are truly an admiration of mine James. I hope one day to meet you and share in your knowledge. Thankyou.
@kb44995 жыл бұрын
Hindsight Breeds Foresight. I minored in Entrepreneurship, my degree is Wine Business Management. The things you described are spot on and you’re not alone. The most common problem is burn out, and the next is working too much in your business instead of on your business. Start up costs are insane, and the risky unpredictable nature of new business ventures lends itself to stress and tight ships. Even starting with a lot of money doesn’t fix all problems, it just gives better flexibility and ability to fix your course and put out fires easier. A quote used in entrepreneurship is “How do you become a millionaire?”, “Be a billionaire and start a Wine (insert any industry here) business.” A good mindset to start a business is that it’s about passion and precision, delegate what you can’t create. The goal is an exit plan, create a 3, 5, and 10 year plan. It doesn’t matter if you still wish to be in and on the business you create, having goalposts fixes your vision. The goal should always be to make yourself redundant, same with any component or employee, make a tight rulebook that can be transferred past your exit, one that defines and guides each process and step. Don’t expect perfection, or success, just work to make things work smoothly and efficiently, adjust as necessary and learn also how to let go of things that aren’t working out.
@jmf60002 жыл бұрын
Fascinating video. The part about working 100 hours and feeling great about it, but at the same time feeling exhausted, and worn out resonated. I also love when im working. Its like a drug, and I feel like the more hours I work the more successful I will be. But after 10 years im realising work is endless. You never get everything done. Trying to find ways to reduce the work, or working smarter, or just being content with less. Havent experienced a 5 day work week in a decade.
@christopherfederici27762 жыл бұрын
The E Myth is the real deal. I read it when getting my MBA. Great perspective.
@7sn3li5 жыл бұрын
James I run my own business now and so far doing good .. the family thing you stated is absolutely correct and I can relate to, didn't see the growth or improvements untill i started documenting everything and write down the roles and responsibilities of every single one. Getting the people you work with to think that they can bend the work flow to their convenience is a fatal practice and no matter how close you are with the people you work with the business wellbeing should be the top priority.
@marklynnebradford82985 жыл бұрын
Sent immediately to one of my entrepreneurial friends. Really interesting from my perspective., I don’t work in coffee but have worked in both the public and private sectors across many industries from SME to FTSE Listed. The mantra I take with me everywhere is colleagues not friends, customers not friends. The family dynamic point really resonants with me as it has significant parallels with the friend vs concept. It’s really important to me that I work in a happy non toxic environment where I’m personally happy and so are the team I work with. This does not necessarily mean it can’t be professional. Keep up the videos - really enjoy them Best Mark
@danielszekely74805 жыл бұрын
The channel that does not only teach you about coffee, but life as well
@zacharyjohnson85225 жыл бұрын
This was some great feedback! Currently looking into starting a cafe right now. So this was awesome!!! Please make some more videos about starting up businesses! Specifically coffee buisness
@DovidM4 жыл бұрын
This was very useful. To expand on what you said about setting limits on how many hours a week you put into the business, I would say look at every task you do to decide if it can be delegated, eliminated or postponed. If I am the one washing the shop windows, can I hire someone to do this or simply not wash them as often? Much of the work that we see as necessary is actually the result of not calculating the man hours involved in doing things a certain way. There are ways to cut corners that won’t alienate your customers or the health inspector.
@daveayerstdavies4 жыл бұрын
I started a business 20 years ago. Yes, taking a thing you love to do and turning it into a business is a very effective way to end up hating it. As for 'family atmosphere' I have to disagree. The keys to maintaining a healthy 'family' atmosphere are communication and honesty. If your business family is neither (at one extreme) an autocracy nor (at the other extreme) overly sentimental, then the family atmosphere of belonging and camaraderie can be very positive. My keys for success in a start-up. 1. Have a viable business model and be honest with yourself when assessing it. 2. Judge how much finance you will need, then double it. 3. Stay with the programme. Don't take on side projects or expand too soon. 4. Ditch things that don't work, no matter how much time and effort you have put into them. 5. Success can also be a problem. Make sure you are ready for it and you will avoid boom-and-bust. 6. If you have a business partner, make sure you are both equally committed to the project.
@gloverelaxis4 жыл бұрын
congrats on exploiting employees for profit - you're a sustainable parasite and autocrat!
@Mr.McIntyre3 жыл бұрын
Your 100% correct on them all. Would love to hear more like this. Failure is the greatest teacher. I believe in sharing what you’ve learned....the hard way. Hardknox.
@JoeAlbano4 жыл бұрын
This is hugely important. Thanks for sharing. All of your points are worth consideration, but one particularly resonated with me. I could say quite a bit about the importance of corporate culture but in the interest of brevity, I'll simply say (to paraphrase) that your observation that your personal experience of family (no matter how positive) is NOT the model for a useful corporate culture. In the words of Jim Collins, it's about getting the right people in the right seats on the right bus. Successful corporate cultures recognize that people, seats, and busses change over time and work to overcome inertia, fear, and other friction that impedes useful motion.
@simonmccormack53185 жыл бұрын
Hi James, I agree 100% as Ive been through very similar experiences with my business. I started with family. We started with very little money and I burned myself out in the first 2.5 years working 70-90 hours a week and one week I even worked 120 hours. I love what I do and Im never bored, but Im so glad I eased off how much I was working (down to 45-60 hours now) because my social life was almost ruined from my experience. I also agree that had we just spent more at the start and made life easier we could have even used those extra hours to create new opportunities and improve quicker.
@CatbaronAle2 жыл бұрын
Thank you for this video, there isn’t enough out there speaking to the long term value of investing in not burning out. So it’s nice to hear someone emphasize how important it is to consider yourself as a finite resource as opposed to the infinite resource a lean business plan tends to require.
@daveedwards17162 жыл бұрын
Great video that applies to many start-up situations. I am getting around to some of the older videos of yours. Actually, I think that rogue bit of hair looks great and isn't all that distracting.
@eddieaguilar89595 жыл бұрын
Very spot on! I started my food truck with little to no money but we were ready to open. We put all expenses on a 1 year 0% interest credit card(maxed it out) and hoped for the best! I worked very hard and many long days and hours it felt to me like if I didn't do those, that I Would FAIL, almost 4 years in my whole mind set has changed about that. I still work hard but family comes first.
@scags3652 жыл бұрын
I really appreciated this video. I am currently a training barista, I was a sous chef pre COVID. Thanks for making this video. This resonates with me very much, I would like to see some more of these videos. Maybe some form of how COVID changed your business/ way you see your business. All in all thanks James, not only for your coffee wisdom but your wisdom as a whole.
@ammarnanaa66574 жыл бұрын
I totally agree with your three advices. I had the same experiences with my last small business. I would love to hear more of your business advices since I am starting something new.
@EricPetersen29225 жыл бұрын
As a life long biz man, who grew up in a poor home. I started my first biz at 21 years old. I have had many many failures. I’m 52 now. If your right 51% of the time and wrong 49% you can live off the 2%. This is a over simplification but there is a lot of truth to it. Practice, failure(learning opportunity’s) and experience are the quickest road to success. It’s a long process to learn to be successful in biz. Never work 100 hours a week. That only creates a business that is built around you. Your a slave to that biz. Run and operate your businesses don’t work in them. Loyalty is overrated. Treat employees with respect never get addicted to them. Best of luck! Don’t worry about the mistakes, learn from them. Don’t beat yourself up. I’ve made and lost fortunes in the past 30 years. Many multimillion dollar mistakes & wins too! Never lets the highs be to high or lows be to low. Become something, not a grinder-a biz man. Takes practice and constant learning.
@warranfawcett70103 жыл бұрын
thank you for your helpful and honest reflections. I certainly agree with your first two points, especially the hours you work when starting your own business. We all have the same amount of hours in a day - it's how we choose, individually, to use those hours that matters. If you're saying 'yes' to 100hrs/week investing in your business, you're also saying 'no' to many other good things in your life. To excel in one area nearly always means you have to sacrifice in a different area to achieve that. I cannot do a 100hr/week and be a good husband or father, for example, as I'm either not physically present, or not emotionally engaged when I am present. On point 3, with reference to family: I understand what you're saying, but I think it really ultimately depends on what you're trying to achieve in your business. Family and 'business' are not necessarily mutually exclusive. For sure, there is a huge amount of emotional investment in relationships and that can be wearying, but the dynamics of a 'good' family are not automatically counter-intuitive to a good business. Thank you for sharing your insights 👍🏻
@Ningos895 жыл бұрын
I started a business with a familial dynamic four years ago. As the patriarchal figure in the "family" I ended up committing the second mistake TIME and worked all hours of the day to be a good "boss" to my emoloyees. I burned myself out and nobody thanked me for it, because as much as I worked the business never flourished. I ended up leaving, and now I'm gearing up to try again, so I'd love to hear other insights you have!
@tom420guitar5 жыл бұрын
Love this series! Please do more. Me and my partner want to open our own coffee business so hearing advice like this from someone like you is priceless.
@TedTrembinski2 жыл бұрын
I've been self employed for about seven years in the music industry in LA and all of these three things GREATLY resonated with me. Thanks for the brew tips over the years and the insight here too!! You're a gem :)
@ijchua4 жыл бұрын
I read Gerber's book years ago and I have in fact given it as a gift to friends who started food and beverage businesses. One of them who had been going through the grind for a couple of years read the book in one sitting, in one night. She made the decision to leave the business the next day. She realised the business wasn't what she wanted in life, and went off to further her studies in a completely different field. Sometimes, we need a bit of a nudge to discover what we truly want, and realise our full potential.
@michaelwong98965 жыл бұрын
Hi James - Amazing to see the production value of your videos come so far! Great work on this video and thanks for spending the time.
@channeljarbz7773 жыл бұрын
thank you, James. please share more about your failures/lessons in business.
@NickBZ4 жыл бұрын
Thanks for sharing your experience, James. I'm in the process of the transition from self-employment to business (in Kayosaki's definitions). An I appreciate each of your points. It's very hard to start and grow business on the cheap; working all the time is like a drug in the beginning, when we see our small endeavour grows. As the business grows, though, relationships, and culture change, as more people come into the process.
@peddym4 жыл бұрын
Every point resonated with me. Now going through the tricky transition of the 3rd point into the less family more business environment
@AlKhttabAlSaqri5 жыл бұрын
The last point is a killer. Can't agree more.
@foxbritten5 жыл бұрын
Spot on, it's a business not a family or a friend group. You can't really have a true friend relationship with people you employ. It will never be fair and balanced. You can trust them, rely on them and like them, but don't mistake the dynamic. You have the power they do not. Small things like asking them out for a beer can be unfair, they might tell there friend they're too tired but maybe not their boss. Also as a boss you will start to value there opinions over others naturally, which can lead even the best of intentions astray.
@rickyvernandes5 жыл бұрын
Hi James, thank you for sharing. I am also wish to share, 1. Money. I also run a coffee business with not enough resources (mostly money). This was indeed hard, but I don't see this as a mistake. I learnt a lot from the hardships of early days, and those hardships are still on going after one and a half year. The biggest problem I had regarding money is that we had barely enough to expand the business. To invest on new equipments, hiring better staffs, building better environment for the customer. Mostly because we have to pay loans and whatsoever. But yeah, I believe business is also about taking calculated (to some degree) chances, surviving and grinds yourself to be better. Though having a bit more resources won't hurt. Haha 2. Time. Am struggling with this one. I sometimes feel guilty not spending more time in the business, in the people. But at some point it become unproductive and self destructive (through overthinking and over observations), but it feels good and rewarding. Mostly because you can use it as an excuses to feel better about yourself, but actually you just can't do more in the time frame given, you just find excuses to not have to deal with the anxiety. And with you, I mean me. 3. Family. Am also working to do better on this topic. Many of my employees are about the same age with me, it's kinda tricky to find the balance between professionalism and wanting to be perceived as an Ideal boss. Then I also build the business with my lovely beautiful hardworking wife and my father. It has many benefits and building a dream together is indeed a dream, it's just that sometimes I take it personal and creating boundaries is not as easy as speaking it. I suggest to those starting family business, work hard on your internal communication (I believe this is the key), don't overly sweat on the small stuff, you're all in this together. (My advise to me too, haha) And lastly, to you all aspiring entrepreneurs, hang in there. Make decisions, learn from the mistakes, execute better, and note that in order to be a better leader you will need bigger problems. Hang in there, let's hope we all make it! 😊😊😊
@B12UA4 жыл бұрын
All 3 points resonated with me. Not having enough money made us work crazy hours doing things that didn’t necessary help to move business forward, only helped to go through the day.
@Alex79D2 жыл бұрын
I'm 7 months in to running my coffee van business and these points that were made are very relevant.
@andrusyakeduard82985 жыл бұрын
Love this kind of content. Do post more of it!
@MindlessO_o5 жыл бұрын
YES! Please share your experience.. I would one day love to own/run a café and would appreciate being able to skip some future pain/problems 😊
@phanhieu.barista15783 жыл бұрын
Hello Sir, I am from Vietnam, I have a small F&B company, I have been in business for 5 years, I used to manage family style. I understand what you have shared.
@grootjnr5 жыл бұрын
As someone thinking of starting a business (not in coffee, I just love drinking it) I wild love to hear more about your business and mistakes of course. Also more book recommendations please. Keep the videos coming 🙏
@willlane19695 жыл бұрын
Totally on point with your feedback. Couldn't agree more
@niallsaudi62504 жыл бұрын
Having extra money to allow you the freedom to focus on making the business successful is absolutely crucial. From MONEY you're buying the a very important resource which is "Time" and sometimes that's all you need to make a business successful. The next 2 points are very true and it's society that have put this pressure on us to work 100 hours a week to be "successful" however it turns it into hell in the long run and you end up resenting it. Love the family bit, it's very true. Enjoyed this talk and I'm in the midst of opening my own business so great timing. 👍👌
@petergracier5275 жыл бұрын
I didn't even notice that bit of hair till i went back looking for it, haha. you look great. I think the fundamental difference between my hair and yours are that every bit of my hair is rogue, and 99.999% of you hair is in its place, where you decided it should be. This is a good business lesson; letting things grow and trusting that they are in a good place, while maintaining them and keeping things clean can be a way of resting in a business. Where as trying to make every decision as if you're the only glue holding thing together will burn you out.
@k2u3644 жыл бұрын
Jams you are my new favorite KZbinr. I just bought a moccamaster cup-one but and I think I’ll pick up a grinder next. Can’t decide between a niche zero and a kinu.
@henriksorensen825 жыл бұрын
I don't think you should regret your mistakes (for the most part), because if you do not make mistakes, you will not learn. I've made many mistakes, but I've also learned a lot from them. A small mistake can be a big lesson.