A Lesson in Business and Barbeque

I’m a wimp. I admit it. I didn’t follow my gut. I listened to conventional wisdom. And I chickened out.

I’ve heard it my whole life -- don’t invest in restaurants. Worst business in the world. Everyone steals from you. 9 out of 10 close within the first year. Only shmucks invest in restaurants.

So when one of my best friends, Marc Glosserman, gave me the opportunity to invest in his new restaurant, I pushed back. I didn’t say no outright. I wanted to be supportive and deep down I knew Marc was going to be successful. So I invested, but I didn’t take the full position I would normally take in a company I thought was going to succeed.

My rationale was solid, or so it seems:

• I have a young and growing family I need to support.

• I’ve been fortunate to have a few wins. But I haven’t done well enough to throw a hundred grand at every deal I think is going to work.

• No matter how you look at it, restaurants are risky.

Nonetheless, I didn’t listen to my gut and I should have. I wasn’t investing in a restaurant. I was investing in Marc. And I knew that he’d bust his ass, pour his life into his business and make it work. And making it work he has done.

In early June, an hour and a half after Marc’s wife Kristen went into labor with their first child, aptly named Austin, Marc opened Hill Country. The restaurant, located on 26^th between Broadway and 26^th, is Atkins heaven in the middle of the Big Apple. Since opening, New Yorkers have lined up for the best brisket, beef ribs, pork chops, prime rib and other Texas meat delicacies in the city.

And the press has noticed. Hill Country was named the top BBQ joint in the country by the Wall Street Journal, featured on CBS Sunday Morning and received glowing reviews from the NY Post and NY Times and the blogosphere.

Most importantly, Hill Country is cash flow positive on an operating basis in its first month. Not many other businesses can say that. People need to eat, and they’re showing up daily at Hill Country to feast.

So the takeaway is simple. Listen to your gut. It’s usually right (unless you have flawed gut reactions … then don’t listen to it!). Invest in people, not business. Great people will create great businesses. Marginal people will create mediocre businesses. Idiots will get slaughtered. I don’t care what type of business. And eat at Hill Country. It is the single best restaurant to hit New York City this year. I know I’m biased. But if you don’t like it, I’ll pay for your meal.

Congrats Marc! You nailed it and you should be extremely proud of yourself!

P.S. My favorites – moist brisket (get marbled, not lean), beef shoulder, beef and pork ribs, cucumber salad, green beans and the PB&J cupcake