The Business Method: Interviewing Billionaires, Billion Dollar Founders & the World’s Most Successful People 🎧🔥 Ep.506 ~ Founders of Outback Steakhouse & Bolay Restaurants - The Father & Son Duo ~ Tim & Chris Gannon
Jun 2, 2021
Tim Gannon, co-founder of Outback Steakhouse and creator of the iconic Bloomin' Onion, shares his entrepreneurial journey with his son Chris, co-founder of Florida's fast-casual Bolay Restaurants. They discuss the emotional and strategic challenges of starting Outback in 1988, the importance of family heritage in business, and how polo has shaped their approach to networking and teamwork. Listeners will find insights on overcoming adversity, ethical boundaries in business, and tips for high performance from this dynamic father-son duo.
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Saddle Sold To Start Outback
- Tim sold his childhood saddle to get to Tampa and start Outback when he was flat broke.
- He bought the saddle back about a year later and began playing polo after Outback went public in 1992.
Team Complementarity Wins
- Tim compares polo to business: success comes from assembling complementary team roles.
- He argues founders should surround themselves with people who fill their weaknesses.
Stay Humble And Keep Building
- Chris advises staying humble and focused on the next project instead of reliving past wins.
- He warns founders to keep building rather than narrating past successes.