The wooden identity and how to build your dream | Bobby Fry | TEDxUniversityofPittsburgh
Will Smith's quote sets the tone, arguing that true excellence requires working harder than your peers; the speaker details a journey from struggle to building a successful business model through meticulous planning and team empowerment. He recounts early career struggles in New York and Corning before establishing the concept for Bar Marco, ultimately focusing on building teams and systems over mere individual talent. The central message is to shape oneself to be ready for opportunities, channeling this through continuous work ethic. ## Speakers & Context - Speaker: Unnamed individual presenting a talk, discussing professional and creative development. - Will Smith: Actor; provided a quote comparing self to a person on a treadmill. - Grandmother: Speaker's grandmother; located in Greensburg. - Justin: Speaker's best friend and collaborator; co-founder of Bar Marco. - Kevin: Collaborator; co-founder of Bar Marco; previously worked at First Niagara. - Michael: Architect and collaborator; helped with the launch of Bar Marco; described as taller and stronger than others. - Jamila: Executive chef; runs the all-female kitchen at Bar Marco. - Dr. Drew: Private events coordinator; started by washing dishes for free three years ago; now runs a half million dollar private events business. - Mark Vetri: Chef; one of the country's best chefs; his team took the speaker's team under their wing. - The Obama Academy in East Liberty at Pittsburgh public high school: Setting where the cooking club started. ## Theses & Positions - Work ethic is a fundamental trait passed down and refined through experience. - The goal of personal development is not simply achieving opportunities, but "shape[ing] yourself so that you're ready when the world gives you opportunities." - Building a successful enterprise (like a restaurant) requires establishing systems, most critically ensuring the front and back of the house are paid equally. - *"Our deepest fear is not that we are inadequate; our deepest fear is that we are powerful beyond measure."* - *"It is our light not our darkness that most frightens us."* - *"We are all meant to shine as children."* - "Playing small does not serve the world." ## Concepts & Definitions - **Craft cocktail bar:** Described as the first real one in Pittsburgh. - **Work ethic:** A trait possessed by the speaker from his grandfather, passed to his parents and himself. - **"Chop down a tree" analogy:** Illustrated by the idea that one must spend four hours sharpening the axe for six hours of actual chopping. - **"No gratuity policy":** A policy implemented by the restaurant to ensure fair pay distribution. ## Mechanisms & Processes - **Cooking club process:** Started by attending the Obama Academy every Tuesday; aims to teach skills and eventually fund a food truck. - **Restaurant profitability structure:** Mandates paying the front and back of the house equally, ensuring all receive at least a 5% share of profits. - **Natural cycle of growth:** Moving from basic work ethic to mastering systems/planning, recognizing failure, and then adapting to seize new opportunities. ## Timeline & Sequence - High school period: Speaker was incredibly overweight, and his body could not keep up with his mind. - College graduation: Speaker received a job on Wall Street with a 2.6 GPA. - 2007: Speaker arrived in New York City during an economic collapse. - Three years: Duration spent on Wall Street, where the speaker refined his skills. - Three years: Duration establishing the initial period before the restaurant concept began. - Six weeks: Duration the speaker lived in the attic in Corning, New York. - Nine months: Period between the start of planning and Justin's father's passing. - Five months: Time spent planning for the first Bar Marco. - Three years: Period where the cooking club started at the Obama Academy. ## Named Entities - **Wall Street:** Location and industry where the speaker worked for three years. - **Staten Island:** Destination where the speaker pulled his Jetta for his first time in New York. - **Corning, New York:** City where the speaker worked for a startup company. - **Greensburg:** Location where the speaker returned after running out of money. - **The Strip District:** Location in Pittsburgh where the initial bar opportunity was found. - **The Firehouse Lounge (Emory):** Location where the rebuilt bar was established; the building was built in 1860. - **Obama Academy in East Liberty at Pittsburgh public high school:** Location where the cooking club began. - **First Niagara:** Bank where Kevin worked and where the man offering the Strip District bar worked. ## Numbers & Data - GPA: **2.6** GPA received by the speaker on Wall Street. - Year of arrival in NYC/Wall Street: **2007** when the economy was collapsing. - Number of institutional customers receiving the morning note: **500**. - Age when the morning note was ranked: **24**. - Loan amount received: **$49,000** from Justin's father's Farmhouse. - Cost of liquor license: **$455,000**. - Legal fees incurred: **$44,000**. - Free rent period granted: **Four months**. - Fundraising goal for the food truck: **$300,000**. - Wage earned by cooking club kids: **$10** per hour. - Failure rates: **70%** of restaurants fail in their first three years; **90%** fail in the first five years. - Value of Dr. Drew's business: **half a million** dollars. - Percentage minimum profit share: **5%**. ## Examples & Cases - **Will Smith quote:** *"If you and I get on a treadmill either you're getting off first or I'm going to die."* - **High school physique:** Speaker was incredibly overweight; his body could not keep up with his mind. - **Wall Street morning note:** A note written and refined over time that went out to all 500 institutional customers. - **Bar Marco initial struggle:** Plans fell through when Michael boarded a plane from New York. - **Strip District discovery:** A contact noticed the group distraught and suggested a bar for rent in the Strip District. - **Firehouse Lounge redevelopment:** The team utilized the existing structure, built out elements, and established a thriving location despite initial financial hurdles. - **Cooking Club:** Started at the Obama Academy every Tuesday; now aims to fund its own food truck. ## Tools, Tech & Products - Jetta: Vehicle used to move to Staten Island. - Notebook: Tool the speaker brought to the stage for meticulous note-taking. - Axe: Metaphorical tool; learned to sharpen it, symbolizing working smarter. - Excel: Software used for proactive planning in the restaurant business. ## References Cited - Tavis Smiley Show: Source of the Will Smith quote. - Confucius: Quote citing, *"it's as fatal as to go beyond as it is to fall short."* - Abraham Lincoln: Quote: *"if you're going to give me six hours to chop down a tree I'm going to spend four hours sharpening the axe."* ## Trade-offs & Alternatives - **Career path:** The choice to leave Wall Street despite developing skills, pivoting toward building physical businesses. - **Compensation model:** Avoiding inefficient payment structures in favor of equal pay for front and back of house staff. - **Risk tolerance:** The decision to take on high debt ($49,000 loan + $455,000 license cost) based on the perceived opportunity in the Strip District. ## Counterarguments & Caveats - **Fitness discrepancy:** Speaker's body could not match his academic/mental capacity in high school. - **Restaurant failure curve:** The danger period noted is between years three and five, where teams become complacent. - **The Ideal Condition:** The entire process is described as "not all roses along the way." ## Methodology - **Work Ethic Phase:** Developing initial drive through early life experiences. - **Systemization Phase:** Implementing meticulous note-taking and planning after working in the financial markets. - **Opportunity Seizure Phase:** Pivoting from one failed plan (New York) to seize an emergent opportunity (Strip District). - **Team Building:** Recognizing the necessity of supporting the team, exemplified by the shift to shared profit models. ## Conclusions & Recommendations - The strategy for success is a cyclical process: building work ethic $\rightarrow$ sharpening the axe (planning) $\rightarrow$ building systems $\rightarrow$ adapting when plans fail $\rightarrow$ reinvesting in team building. - Focus on the positive cultural aspects of success: building community and empowering people. - Final call to action: Embrace the light and understand that one's presence inherently liberates others. ## Implications & Consequences - Successfully implementing a shared profit model ($5\%$ minimum) creates mutual incentive for the entire team. - The understanding that the "real work" happens in the team dynamic, not just the initial genius idea. - If one continues to play small, the impact on the wider community is lost. ## Open Questions - How to continue to affect the environment after the current projects? ## Verbatim Moments - "If you and I get on a treadmill either you're getting off first or I'm going to die." - *"It's as fatal as to go beyond as it is to fall short."* - *"My mind uh my body couldn't keep up with my mind."* - *"I think you're going to learn the things that you need to learn from Wall Street even if it's not something you want to do for the rest of your life."* - *"if you're going to give me six hours to chop down a tree I'm going to spend four hours sharpening the axe."* - *"I'm starting to be me now; I'm starting to come out; I'm starting to feel strong."* - *"Our deepest fear is not that we are inadequate; our deepest fear is that we are powerful beyond measure."* - *"it's not all roses along the way."* - *"Our presence automatically liberates others."*