April 2002 Newsletter
David Kristal Shares
Embers America’s Recipe for Success
how he managed to steer his father’s restaurant chain from the brink
of collapse into a fast-growing franchiser and service provider to
independent restaurants.
opened in 1956 in Minneapolis
on Lake Street near Hiawatha
Avenue. It had seating for 36
people. Over the years Embers
continued to grow, with
restaurants in the five-state area.
Embers entered its renaissance
and emerged as Embers
America. That’s when David, with
his father Henry and his family, bought out their partner, retooled their
restaurants, logo and menu, reduced the number of items from 152 to
85, and came up with a new franchising program, which Kristal
describes as more of a co-branding system.
combines the benefits of large scale franchising with the charm and
hometown experience of independent, family style restaurants, and a
recognizable brand name.
Embers America.
of Management and Stanford University's School of Law.
leading, Twin Cities-based outsourcing management services firm,
where he founded a division designed to develop partnerships
between private companies and educational institutions. He also
practiced law for several years at Winthrop & Weinstine, PA.
at 7:00 PM
For David Kristal’s “Recipe for Success”
Recessionary Market”
Consulting, will provide step-by-step suggestions for starting a
technology services firm in a recessionary market.
mission, branding, positioning, marketing, and competitive analysis in
the wake of the September 2001 terrorist attacks. Bengtson founded
Upland Consulting, Inc. as a management and strategy services firm
for business and technology in August 2001, just 36 days prior to the
tragedies of 9/11.
management, architecture, development, and implementation teams
in the application of technology and process improvement solutions to
meet business needs. Prior to founding Upland Consulting, Bengtson
spent eleven years with Pricewaterhouse Coopers managing
consulting engagements at Fortune 500 companies across the United
States, including clients such as Intel, General Motors, Ford Motor
Credit, Sears, First Data Corporation & others.
program from 6:00 – 9:00 PM at the Minnesota Business Academy
Wabasha & Exchange Streets - Downtown St. Paul
Presentation begins at 7:00 PM
Tuesday, June 11, 2002
Tuesday, July 9, 2002
Tuesday, August 13, 2002
Tuesday, September 10, 2002
Tuesday, October 8, 2002
Tuesday, November 12, 2002
Tuesday, December 10, 2002
MEI MONTHLY MEETING:
"Starting a Technology Services Firm in a Recessionary Market."
David Kristal, CEO, Embers America.
In the past five years, David Kristal helped steer Embers America, his
father Henry's restaurant chain, from the brink of collapse into a fast-
growing franchisor and service provider to independent restaurants.
The company now has a healthy cash flow. Learn how David Kristal
came up with this winning strategy.
Restaurant at 225 W. 7th Street in St. Paul.
No problem!
is now open on-site, from 5-7 PM, featuring
sandwiches, chips & beverages.
Tree Park Place Hotel in St. Louis Park. Call Bill Lehnertz at 952-948-
1105.
So, after reading last month’s letter, you’ve
managed to get the commitment inside of
you down pat and there isn’t any further
yes-yes and no-no in your thinking. You
are highly focused and singularly minded,
taking aim at your big goal. You are not double-minded. This is the
point then, which you need to be aware of the entrepreneur’s
propensity to sacrifice in a variety of ways that affects his or her
health and especially their family or family life.
the short story in reference to the struggling entrepreneur: “It is hard
to remember you are there to clear out the swamp when you are up
to your neck in alligators.”
lived this aspect of the life but have witnessed it in others as well.
How far will you go to achieve your business dream? I am not asking
an ethical question here. I assume you will be quick to draw a line in
areas such as stretching the truth. No, what I am talking about here
is what level of sacrifice you will make.
much pain and for the most part somewhat irrelevant IF they hit the
big goal. Like the Olympian who sacrifices years of practice for the
single day of competing for the gold, entrepreneurs will make
sacrifices. Each one determines for himself or herself on a day-to-
day basis just how much they will sacrifice.
enormous sacrifice from entrepreneurs who ultimately failed to make
their dream materialize. Defeat occurs for a variety of reasons. In
the process, some became disenchanted with the sacrifice. The
entrepreneurial dream building process can be a struggle. Still
others, those “serial entrepreneurs”, become MORE motivated for the
next adventure.
after 3.8 failures.”I already had my 3.8 failures, so I got excited.
Later, I got even more excited when I read another statistic in a test I
took. It said: “You have an 85% chance of achieving entrepreneurial
success.”Yet, I have had my own share of troubles and I have had
to examine my own level of tolerance for both self and family sacrifice
along with its impact on my own family.
terms of personal or family sacrifice. They are usually too focused.
Like the Olympians, they usually just think in terms of“paying the
price” for the level of achievement they desire. It is a very different
mindset and way of thinking that seems to come naturally to
entrepreneurs. However, often the first thing ignored are personal
health issues. I plead guilty in this area and was reminded recently of
how much I have ignored. And, for how many years I have ignored
things.
intensive when it comes to focus. In fact, this is a necessity. Without
such a focus, they will get nowhere. Focus flows from commitment
natural next step in the adventure.
arises is: “Okay, I need to take care of this [name the personal health
issue or even a family or family health issue]. But, it can wait or will
have to wait until I achieve [enter any necessary entrepreneurial
objective].”
funds from “Y” source.”Sometimes, the cash resources are simply
not available for the entrepreneur to do everything on his A list. So,
he creates a B list, C list, etc. He or she then chooses between
competing lists of very compelling items. They might even play the
devil’s advocate [which I often do] by saying: “What is the worse thing
that will happen if I don’t take care of this item?”Followed by: “Can I
live with it?” Or, “Do I have to live with it?”
sponsored by Profits Journal Magazine. One medical company
executive stated that ALL of the management had to go without a
salary for five months before they obtained funding. Could you live
without a salary for five full months? How about the rest of your
management team? This is called sacrifice. This entrepreneurial
management team was focused on a bigger goal. Do you think that
goals? You better believe it. What about health issues?
Postponement?
Entrepreneurs, listen carefully to glean from them the levels of
sacrifice that were made. You’ll be surprised at the level and depth of
sacrifice that entrepreneurs are willing to go through. They will even
sacrifice for years to build their dream one step at a time—just like
Olympic athletes.
to ignore. Don’t ask me why as I do not fully understand the thought
process behind it. For now, keep it in mind as you build your big
dream. Make sure you take care of your family and your own health
loved ones are expressing concern to you, perhaps it is time to back
down a little and rethink priorities.
you should be full of joy, because you know that these troubles test
your faith, and this will give you patience.”In some perverse sort of
way, I know that entrepreneurs are relishing in joy when everyone
around them only sees their sacrifice, suffering and possibly even
misery. Certainly their struggles.
joy exactly what you are doing. Long hours are a good example. If
you hate what you do, you will suffer greatly. If you love what you do
and get into a “state of flow” [losing track of time] doing it, there is
indeed joy. A lot of it.
levels of personal and family sacrifice you will endure to pull it off.
Certainly you should identify some outside limits and thresholds that
would trigger a priority reassessment. Your goal is to succeed with
your family intact!
That you would have an 85% chance of success? One expert says
no. Next month I answer the question: Is there an entrepreneurial
quotient? An EQ Test?
THE MINNESOTA ENTREPRENEURS
& Meeting Time Changes
meeting seminar vs. the monthly meeting presentation. Your Board
of Directors has taken the initiative to streamline this process!
Attend both meetings for the price of one! The
educational seminar and the monthly presentation and membership
meeting will be packaged as one for the price of $20 advance
registration, $25 at the door for non-members. MEI Members will be
able to attend both sessions at no charge, as part of their
membership dues.
Meeting times will change slightly. We will
schedule the educational seminar to begin at 6:00 PM, followed by
the keynote presenter and monthly program at 7:00 PM. Registration
and informal networking will start at 5:30 PM. So, keep this in mind,
starting in May:
6:00—9:00 PM- Monthly Program
Educational Seminar, Keynote presentation, Networking opportunities
This offers you 12 months of programming for only $10 a month! You
will no longer have to pay for the educational seminars separately.
$79. After June 1st, the dues will be $120—still a bargain,
considering both programs are now rolled into one package—where
else can you get 3 hours of camaraderie, inspiration and education
for only $10???
to focus on the future direction of the organization.
A new vision and mission statement for the organization
Determining our target market for membership development
Revamping the marketing of our meeting format, which includes a
change in the dues structure
A new concept for a membership referral campaign
Minnesota’s primary resource for growth-oriented entrepreneurs.
We provide emerging, growth-oriented entrepreneurs with the
resources, inspiration and support to launch their vision and grow
their business.
seasoned entrepreneurs and other professionals.
dozens of publications available on FOR FREE on its web site. Many
can be viewed online in PDF format or ordered in hard copy. Topics
include, A Guide to Starting a Business in Minnesota, A Guide to
Intellectual Property Protection, An Employer’s Guide to Employment
Law Issues in Minnesota, and An Introduction to Franchising. For
more information on these publications and others, go to
http://www.dted.state.mn.us/searchframe.asp?url=00x04.html.
Entrepreneurs Expoon March 14th! (And thanks for braving the
elements to get there!)The winner of the drawing for the year's free
membership in Minnesota Entrepreneurs was: Katy Gray!
Congratulations, Katy!
“Free Coaching Sessions” Prize Winners—Slava Thaler,
ReachApex, donated 2 months of free professional coaching services
at our March program. The winner was: Barbara Lerschen!
See what our
Strategic Partners have to offer!
on
Profits Journal subscriptions (print magazine or on-line news service)
as well as a discount at any future Profits Journal events. Email your
request for additional information to: info@mn-entrepreneurs.org and
association has entered
into an agreement with MEI to offer a $5 discount on meeting fees.
The following is information on their upcoming meeting:
featuring Robin Neidorf of Electric Muse as the speaker:
7:30 AM pre-meeting networking; 7:45 AM - 8:45 AM presentation
University of St. Thomas/Minneapolis, Rm 250, 1000 La Salle Ave.
$15 advance registration for Minnesota Entrepreneurs members,
Professionals: 612-741-5418 or visit: www.i-b-p.org
MEI has arrangements with MBA to obtain the services of Orion, a
student intern, to assist with our web site development! If you have a
situation where a student intern could assist you and your business,
call Ellen Paxton: 651-256-0488 or send an email to:
epaxton@mnba.org.
“Entrepreneur of the Week” segment, airing at 6:20 AM on Tuesdays.
Our speakers are featured the week prior to and the week of our
events. This is a chance for you to get a “sneak preview” of what is in
store for our monthly keynote presentations!
Convenient Parking is Available at the MBA—505 Wabasha St. North
in downtown St. Paul. Enter the parking ramp on Exchange Street.
Downtown St. Paul parking meters are free after 4:30 p.m.
