Small Business School
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Overview Transcript Case Study Video
Thomas Keller is a working chef.
Thomas Keller works on his dreams.
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Keep Dreaming
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HATTIE: How did you close the gap between the dream and the actuality?

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Transcript Segments
Small Business School
1. Make A Small Amount
2. Learn From Mistakes
3. Be True To Yourself
4. Keep Dreaming
5. Put All Of Your Skin In The Game
6. Stay Charming
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7. Take Dozens of Investors
8. Win Awards
9. Do What You Want To Do
10. Hire A Maitre D'
11. Hire People You Like
12. Buy From The Best

THOMAS: I found the restaurant. The restaurant was closed. I came onto the property and I said, `Wow, this is it. This is magical. This is the place that I want to be. It reminds me of France. It could be anywhere.'

So I went home, I went back to LA, and I thought about it for a couple of days, and I called the owners on the phone. I said, `My name's Thomas Keller. I'd like to fly up and I'd like to introduce myself and show you who I am, and maybe talk about purchasing your restaurant.'

Don and Sally Schmidt were the previous owners. They said, `Sure, come on up.' They were the kind of people, also, that wanted to find the right person to buy the restaurant. They weren't just--they weren't the kind of people who were just looking to sell the restaurant.

And finally, I put together a prospectus of probably 300 pages. And I found an attorney that did this kind of work in LA. He wasn't a restaurant attorney, but he was a man who enjoyed great food and great wine, and his clients--his restaurant clients, were well known, or at least well known to me. So I went to him with my prospectus, and a bottle of EVO, and I said......

HATTIE: Oh, you go with the olive oil.

THOMAS: With olive oil, right, because, again, remember, I have no money.: I had no money. I'm living off--basically I'm living off my credit cards... ...which is kind of embarrassing.

HATTIE: So you financed it on your credit cards at the beginning.

THOMAS: Basically.

HATTIE: Because you're living on that.

THOMAS: Right. Because I'm living on that. And I take him this prospectus, and I say, you know, `Bob, this is'--this is another Bob in the project, I said, `This is my idea. It's a great opportunity.' `You know, this is my prospectus.' He was very impressed. He said, `You know, I've dealt with three or four other chefs who have done this, and none of them have ever come to me as well-prepared as you've come.'

And I think that was key in getting him on board. And he said, `Fine, so, you know, I'm impressed. I'll write this document for you, and this is how much it's going to cost you.'

HATTIE: And then you said...

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