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Baking Billions: Ron Shaich Interview

January 28, 2011 By Clark Leave a Comment

There is an excellent recent Wall Street Journal article interviewing Ron Shaich, co-founder of Au Bon Pain and Panera Bread Co.

Despite the whole carb conscious world, the chain with the word “Bread” in it is doing pretty well. Panera Bread has revenue of $1.3 Billion, and Business Week also listed it in its list of Hot Growth Companies.

In the interview, Ron discusses the ways he financed his first store, and most importantly how he specifically noticed opportunity various times.

Shaich’s advice to entrepreneurs:

“It’s not about starting a business. It’s about solving problems. That’s what being an entrepreneur is. Find a problem that there’s a better way to solve. Get a vision of how it could work better, and stick with it.”

Ron Shaich Interview located HERE.

Similar to my earlier post on franchises, Panera can be franchised (yet at a hefty sum) for anyone fitting the criteria of “Net worth of $7.5 million / Liquid assets of $3 million”

Filed Under: All, Entrepreneur, How to...., Real Estate, Wall Street Tagged With: Au Bon Pain, business advice, franchise, harvard business school, interview, opportunity, Panera Bread, path to wealth, Ron Shaich, solving problems

Buffett’s buddy Ajit Jain

January 25, 2011 By Clark Leave a Comment

I read a very interesting article today in the February issue of Vanity Fair about Warren Buffett. The online version of the article, which is shorter, is located HERE.

The article (like many others) details Buffett’s modest lifestyle despite being a mutli-billionaire.

However most impressive is the articles discussion on who may helm the mega conglomerate post Buffett (Buffett himself has calculated that he has approximately 12 years left to live).

One person considered Buffett’s right hand man and potential successor is Ajit Jain. However, Jain declined to be interviewed for the Vanity Fair article and is fairly media shy.

I decided to look into who was this mystery man that the world’s greatest investor holds such high esteem and “with whom Buffett talks almost every day.” His rise to wealth is quite interesting.

Ajit Jain was born in India and received an engineering degree from the Indian Institute of Technology Kharajpur.

He then worked for IBM in India…….and then BOOM, moves to the [Read more...]

Filed Under: All, International, Wall Street Tagged With: ajit jain, anshu jain, berkshire hathaway, deutsche bank, engineering, harvard business school, india, Indian Institute of Technology Kharajpur, insurance, investment, McKinsey and Co, Warren buffett

Personal Finance Dream Team

November 29, 2010 By Clark Leave a Comment

In my opinion this video below is the best episode of Millionaire Inside simply because the producers managed to wrangle some of the best entrepreneurs and personal finance authors around. Each guest speaker speaks about their background, personal story, and means for inspiration behind their immense wealth and success. Featured speakers:

-Keith Ferrazzi (author of personal favorite NEVER EAT ALONE) – very interesting to hear him speak as there are not many videos featuring Ferrazzi. He details the importance of networking and seeking mentors.

-Robert Kiyosaki (author of RICH DAD POOR DAD) – Once again Kiyosaki never disappoints.

-Larry Winget (The Pitbull of Personal Development) Whoa! Check out that shirt. Pretty hilarious and eccentric personal finance author, claims to have read 4,000 books.

-Dr. Laura Morgan Roberts of Harvard Business School – speaks about creating value and habits of the extraordinary.

All agree the path to wealth is more about the WHY and less about the HOW.

Filed Under: All, Entrepreneur, Real Estate Tagged With: harvard business school, Keith ferrazzi, larry winget, Laura Morgan Roberts, millionaire inside, never eat alone, rich dad poor dad, robert kiyosaki

Low on Capital? Start a small business with only $500.

November 19, 2010 By Clark Leave a Comment

Below is a brief but excellent video on Harvard Business School graduate Dal LaMagna, founder of Tweezerman.com. After graduating HBS with a huge student debt load, LaMagna decided becoming an employee would take too long to pay off the debt. Thus, LaMagna decided to build his own business on the cheap (not only on the cheap but with a six figure debt load!). LaMagna managed to create a novel brand out of a very familiar yet unpopularized product. In the video below LaMagna explains how to stay organized, focused, and frugal.