Comments on: Mmmmm, Tacos

By: Beth Kleinwaechter

Beth Kleinwaechter — Sat, 01 May 2010 15:11:46 +0000

No, I can’t imagine that the last few owners tried to find the common element of failure. I think that there are many reasons why this step wasn’t attempted.

* Ego
* Spontaneity
* Immaturity
* Ignorance
* Financial lacking
* Experience

Oh, I think the list can go on. Really though, we all suffer from some of the traits above. But, it is how we overcome them that makes a difference. I know of a small company that had a great Engineer come up with a terrific idea. This Engineer did not have any business sense though, but he recognized this fact and hired someone that did. This company was very successful.

Maybe there were just too many Mexican restaurants in that area to support another one!

By: joe

joe — Sat, 01 May 2010 14:59:40 +0000

So true, Beth.
It reminds me of a sermon from Andy Stanley where he said “Look at all of the problems in your life. What’s the one thing they all have in common?”

In the case of the Mexican restaurant, the common element wasn’t the people, so there must have been something else.

In your opinion do you think the last few owners tried to find the common element of failure and improve on it? If so, why do you think they still failed?

It’s hard to believe that someone that has their financial well being bet on an investment like this wouldn’t have studied this carefully.

By: Beth Kleinwaechter

Beth Kleinwaechter — Sat, 01 May 2010 14:10:17 +0000

I think it is important to uncover what the common element of the previous attempts (other than the failure itself). Once, uncovered it can be removed or modified in such a way the the next attempt has potential to succeed. It is a painful process and one that can be quite tedious. If no common element is to be found then I suppose the missing elements need to be looked at. This applies to relationships, product generation, raising kids, training the dog, etc. It is so much easier to say than actually do!

By: joe

joe — Tue, 20 Apr 2010 22:43:46 +0000

Agreed, Mike. Each of your good answers has a key qualifier that makes things different – “I have data that shows”, “I have realistic numbers now”.

My concern with these types of responses is that in the original attempt we are often told “we have good market data” and “our numbers are realistic.” Then the question is “what about your process for getting numbers is different than last time and why should I believe you now?”

By: Mike Hughes

Mike Hughes — Tue, 20 Apr 2010 13:22:34 +0000

I once saw a comparison of contradictory maxims, as in “Haste makes waste,” versus “A stitch in time saves nine.” I see this topic equally at odds with a rail against “We tried that before and it didn’t work.” But let’s stay with the theme. Possible good answers:
* We have new tools that will overcome what stopped us before.
* The market has changed and I have data that shows…
* We under invested before, I have realistic numbers now.