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To open a Portillo’s is not cheap. You have to have a hell of a lot of money to compete with Portillo’s. You are going to spend $5, $6 million on just the training, the research, the construction, the land. It’s not an easy concept, but that’s by design. That’s the moat that has long protected us. I remember one time Jim Cantalupo was in line at my restaurant in Downers Grove, which we opened in 1983 as our seventh restaurant and was relocated in 1997. Jim—standing in line next to construction workers and soccer moms—served as chairman and chief executive officer of McDonald’s Corporation until his sudden death by heart attack at the age of 60 in 2004. Jim told me, “You know, if you could ever simplify this, you could open a lot of these places but it’s very complex.” I told Jim that I didn’t want to simplify it because that will invite competition.
Out of the Dog House
Dick Portillo, Don Yaeger
The Internet was an unexpected boon to GEICO, because it made marketing, rate quotes, and customer service easier and cheaper, reinforcing its cost advantage. It’s yet another case of “buy the users of technology, not the technology stock.”
Big Money Thinks Small
Joel Tillinghast
Motivation = expectancy for success × value of succeeding In other words, your motivation to do just about anything is a function of both (1) how likely you think you are to succeed at doing it, and (2) how much you will get out of it when you do. In the case of asking for help, this theory suggests that being motivated to ask is a function of both the likelihood that the helper will say yes and the quality of the help you think you will receive. And we underestimate both.8 Combine this double miscalculation with the five kinds of threat (discussed in chapter 1) that a request for support can cause, and it’s no small wonder that most of us try to go it alone.
Reinforcements
Heidi Grant
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