

Learning From Failure, Avoiding Regret, and Managing Risk with Restaurateur Henry Rich
9 snips Jan 2, 2025
Henry Rich, a serial entrepreneur and head of the Oberon Restaurant Group, shares his insights from navigating the tumultuous waters of the restaurant industry. He delves into learning from failure and the importance of making well-informed decisions that account for future implications. Rich discusses the balance of financial and emotional investments in entrepreneurship, the necessity of sustainability, and how parenting has shaped his views on risk management. His journey emphasizes adaptability and the need for a clear purpose in overcoming challenges.
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Oral Fixation's Demise
- Henry Rich's first company, Oral Fixation, was a mint company competing against giants like Wrigley and Mars.
- Despite initial success, the company failed due to the 2008 recession and industry-specific challenges.
Mint vs. Restaurant Industry
- In the mint industry, distribution and power matter more than product quality or taste.
- This contrasts with the restaurant industry, where small improvements can significantly impact success.
Entering the Restaurant Industry
- Despite past failures and debt, Henry Rich decided to enter the risky restaurant business.
- He was drawn to the opportunity to create unique establishments in Brooklyn's evolving culinary scene.