A Lesson in Entrepreneurship

When I was a child, I used to print out flyers and pass them around my neighborhood. I offered my neighbors dog-walking, car washes, lawn work- I even had a semi-successful video rental business at a young age! Ever since then, my parents always told me I was going to be a great entrepreneur. It didn't mean much until I was able to pronounce and spell the word myself and I finally learned what it meant! Last semester, I took a class called "Essentials of Entrepreneurship and Small Business Management." I have been a part of many small businesses- I tend to gravitate towards them when looking for a job. There is something about the familial nature of a grass-roots business, the familiarity one can have with his or her boss. I always knew this was the right type of business for me.

About four years ago, I started working at a store in a local mall called The English Trading Company. Long story short, this business was a small, privately owned partnership, and had that family feeling that I love in a company. When the store went out of business, I helped them close their doors. It was a tough time for everyone.  One of the partners decided to continue the business under a different name, Knightsbridge Trading Company. I helped him open his new store and I have seen the hardships, trials and tribulations of starting a small business. It's not all tough, though. The three employees, myself and two other incredibly hard-working women, have helped this strong, determined man maintain a store that has loyal customers that have followed us for almost 20 years!

The reason I'm sharing this with you is because I had the amazing opportunity to join the Cornell Entrepreneur Network at a panel discussion last week. The question and answer session took place at The Liaison Capital Hill in Washington, DC. I went with my mentor, Amy Riolo, who graduated from Cornell in 1995. She was asked by the Cornell Alumni Association to speak on the panel. It was an honor for her to be asked, and it was an honor for me to join her.

I was so proud to have my ID badge say "Amy Riolo- Intern"

The name event was "Epicures and Bon Vivants: A New Breed of Entrepreneur in the Business of Hospitality, Food and Drink." All of the speakers had graduated from Cornell and have a lot of advice to give up-and-coming entrepreneurs as well as the average business man (or woman!) Here is a list and short description of the speakers:

• Nick Bayer, class of '00. President/CEO of Saxby's Coffee. 
• Amy Riolo, class of '95. Food Historian, Author, and Restaurant Consultant. 
• Zach Koff, class of '02. Director of Operations, Shake Shack. 
• Jay Treadwill, class of '61. Principal, Optimum Hospitality Services. 

The moderator was a nice man by the name of Bill Eaton, who had also graduated in 1961. He asked each panelist a question, they answered it, and the other speakers chimed in when they thought it appropriate. There was a wealth of knowledge at that small table, and it was amazing to see everyone in the "audience" so inspired by them. 

The Speakers: Nick Bayer, Amy Riolo, Zach Koff, and Jay Treadwill

Although there were many good things said, these are the things that really stuck with me (please keep in mind, these are opinions, not fact.) 

• Due to the high volume of importing produce and food from other countries, there is a shift in the dining patterns of exporting countries. The speaker gave the example of quinoa, primarily exported from Ecuador, Bolivia, Columbia, and Peru. Because of the more recent increase in demand for the consumption of quinoa in countries around the world, natives to the cultivating countries have seen their diets change. This is really interesting, and something that I never would have thought of on my own. I'm curious as to some other examples of this in other places around the world.....
• One of the speakers was asked if "Buy Local" was a trend or a fad. They replied by stating it is not a fad. Fads come and go, trends will shape the way that our society eats, thinks, and makes money. He also clarified this statement by claiming that "local" means within 300 miles, or a 1 day trip back and forth. 
• When asked by an audience member about the pros and cons of free wi-fi at his establishment, Nick Bayer, CEO of Saxbys Coffee, said he highly recommends it. Even though there will be those people who come and sit in his coffee house, order a $1.00 cup of drip coffee, and surf the web for the next four hours, he says that wi-fi creates a sort of synergy that can't be faked. When someone walks by a coffee shop with no one in it, they may think there is something wrong with the establishment. If, however, there are a bunch of people looking comfortable and satisfied, they will inevitably be more willing to give it a try. I urge business owners to think about the long-term effect that free wi-fi can have on your business. Sure, you'll get those few rude people who come in just to use your internet, but if you think about it, they are giving you free advertising!
• Amy, an extremely knowledgable woman when it comes to dietary cuisine trends, stated that she believes the next trend in ethnic cuisine will come from those countries who have recently, or will in the near future, end conflict. An interesting thought, especially considering the vast amount of conflict in the Middle East. Oh who are we kidding, there's conflict everywhere. It's time we all tap into ethnic cuisines we've never even imagined... Who wants to come to a Cypriot restaurant with me?!