The Hat Stack of an Entrepreneur

It takes courage and a wild amount of confidence to launch a business, without even getting into the challenges of becoming one of Calgary’s Best BBQ spots – you need to have a fierce and daring soul that is willing to take risks in the face of uncertainty. The task requires a high level of commitment and a degree of balance that not everyone can master. And let’s not forget, the super human ability to drive forward amidst no’s, naysayers, brutally crushing reviews from the spectator stands, and in our line of work, a deteriorating body forced to physical and mental extremes that a small percentage of humans can even fathom.

Here’s a tip of my hat…or should I say, my stack of hats!

The Visionary Hat – It starts with having a dream and gathering the courage to translate its vision or idea into a reality. And one should sustain and clearly communicate their vision from the start – even up to the time you scale up to a team of 1000.

The Finance Hat – Business is not just about creating profit, but more so about managing your finances to an extreme degree. In our business, we face 95% cost. Who in their right mind will work for $5 profit out of $100 bucks of grueling work? And HOW do you manage it? Cost control, constant efficiency design, and costing/budgeting on the daily in this inflation climate, are all necessary to help you stay afloat as you continue growing your business.

The Captain Hat – It involves knowing the meaning and importance of successes AND failures. Knowing how to use push and pull leadership while upholding the organization’s mission, objectives, and values. It involves proactive critical decision-making, emmense organization, and motivating a group of individuals toward a common goal from cooks, to managers, to contractors, to your accountant, to your marketing team members, all the way to your grease trap cleaner. Everyone needs to have their plan and expectations laid out, which means you gotta know a lot about a lot of industries that you rely on to keep your business optimal and not cost bleeding.

The Communicator Hat – An effective communicator is an active lister. Taking time to communicate with their team, business partners, suppliers and vendors, and of course, their clients. Key listening and observing will provide the foundation of planning appropriate actions that lead to the best results.