Answer: First he borrowed money against his own credit cards. Second, he put his plan in writing in such detail that the attorney trusted Thomas to make what he had written about happen. Third, a bank was willing to finance the property and on top of that, the SBA backed an additional loan for operating funds. And fourth, he convinced 48 separate investors to join him on the the venture.

Topic for Discussion: Since most businesses are launched with less than $10,000 why did Thomas need four cash sources?

Answer: Mainly because he was buying real estate but also because his experience had taught him that a startup needs plenty of cash. In fact, there is usually never enough. In the first year, even with servicing all of the debt, he was able to eke out a $6 profit. Yes. Six dollars. That was a victory for Thomas and he took it as a sign that he would succeed in Yountville.

Topic for Discussion: Why so many investors?

Answer: This was intentional. Thomas told us he didn't want to take a large amount from any one person for two reasons. First, if he failed no one person would lose too much. And second, Thomas didn't want to have to coddle a single large investor. This is time consuming and draining. We think this is brilliant.

Topic for Discussion: Do you have to use an attorney to help raise money from investors?

Answer: No, but if you take money from an investor, you should have an attorney structure the deal. Borrowing from family or getting a loan from a bank doesn't require you to have your own attorney, but if you do seek investors, use an attorney.

Topic for Discussion: Is Thomas Keller a salesman?

Answer: Yes and no. He said, "I wanted it so bad that I made it happen." This means that, even though he doesn't consider himself a salesman and he doesn't enjoy asking people for money, he did it anyway to make his dream come true. So, he had to be a salesman to achieve his goal.

You think about it: What could you do with a large injection of cash? Is it time to take on investors? Is it time to buy your own building?