Joe Bastianich Quotes

You have to manage money. Particularly with market economies. You may have a great product, but if your bottom line goes bust, then that's it.

Overhead will eat you alive if not constantly viewed as a parasite to be exterminated. Never mind the bleating of those you employ. Hold out until mutiny is imminent before employing even a single additional member of staff. More startups are wrecked by overstaffing than by any other cause, bar failure to monitor cash flow.

I think, as a chef and restaurateur, that you have to take care of your business. Otherwise, you're only as good as your last meal. You have to watch if your food costs are too high, or you could be out of business in no time.

When our folks focus on exactly what is needed to succeed in the restaurants, they should be able to lead themselves to restaurateur level.

For resourceful tech founders, finding capital is rarely a problem; making the best use of it is another story. A few years slinging pepperoni pies and chicken wings - on tiny margins and with minimal investment - might not be the worst fiscal training.

Some of the things I think I learned from that were very educational as far as just paying bills - the basics in dealing with a restaurant like that. It was just life - the education involved in running the organization, even on a small level.

Many businesses fail because the owner wasn't willing to invest and wasn't educated on the difference between spending money frivolously and investing money into the business for growth, and the risks and rewards of that cash infusion.

Banking gives you a glimpse into what makes companies succeed and what makes companies fail.

I was embarrassed when a businessman friend asked, 'What's the yearly budget of your talk show? What's the per-episode budget?' And I looked at him with these blank, typical-model eyes and said, 'I don't know.' I call myself a businesswoman, and I don't know that?

One thing I always say is being a great chef today is not enough - you have to be a great businessman.

I don't have any interest in being a chef without being on the business side of things, or vice versa, because if you don't make money at the end of the month, you're going out of business.

The Big Dream of any entrepreneur really has very little to do with the entrepreneur. If you truly love repairing automobiles, chances are, you'll be a lousy business owner. Likewise, if you are fascinated by debits and credits, the dream of building an accounting firm with you at the helm is probably best left unfulfilled.

I remember hearing, back in the day, so-and-so got a deal, and bands are spending the money. Some of them live in the old days, where money is coming in and budgets are endless, but bands have to pay that back. Some bands just don't realize that.

The economic costs of starting your own business can be significant; in fact, most new startup companies fail because of undercapitalization.

I've certainly learnt there's nothing more important than cash - cash flow issues are one of the biggest causes of company failures.

I love cooking, but I love the business, too. It's important because a lot of chefs forget the business side and have to shut down after six months.

As a businessman, I know that businesses need certainty.

In my experience, fledgling entrepreneurs focus way too much on the money - you can get most things done and figure out a lot without spending much. That said, most businesses require money to launch and get off the ground.

I am not frugal - I'm quite a big spender - but not on credit.

When I explained my business model to my family, they asked if I was going to open a travel agency.

Why can't modern tech companies both grow and turn a profit at the same time?

Keep your debt low, and ask, Can your operational expertise make an impact? Then you're taking away a lot of the risk.

Our business is strong and enjoys high margins.

The problem for new businesses isn't corporate taxes. Anyone who has actually started a new business knows you don't make enough money for years to pay any meaningful tax on it.

The first thing you need in order to make a business viable is to preserve a cash flow. I made sure I didn't have any financial backing or support.