Invest Like the Best with Patrick O'Shaughnessy

Nick Kokonas - Know What You Are Selling – [Founder’s Field Guide, Forever Episode]

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Aug 15, 2023
Nick Kokonas, co-founder of iconic restaurants like Alinea and CEO of Tock, shares his transformative journey through the restaurant industry with a unique business lens. He discusses the importance of ownership and entrepreneurial mindset, especially within immigrant communities. Kokonas highlights innovative dining experiences and strategizes on revenue enhancements post-COVID-19, emphasizing effective customer engagement. His insights on navigating crises in the restaurant sector reveal resilience-driven adaptations and the value of authentic communication amidst challenges.
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ADVICE

Own Something

  • Own your business for greater wealth creation potential and control.
  • Take responsibility and avoid having your fate determined by others.
INSIGHT

Measurable Outcomes

  • Focus on decisions with measurable outcomes to iterate, learn, and improve.
  • Many actions, like designing logos, lack measurable outcomes and hinder progress.
INSIGHT

Target High Success Rate

  • Aim for a high success rate (e.g., 80%), not just above 50%.
  • A higher success rate reflects better decision-making and minimizes losses.
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