Don't ever let your business get ahead of the financial side of your business. Accounting, accounting, accounting. Know your numbers.
You've got to stay strong to be strong in tough times.
I ask people what they do in sales, how much money they made last year, what their cost of sales is, and they don't even know. If you don't know your numbers, you're going out of business. I don't care how good your product is.
You have to know your strengths and weaknesses. If you don't have a particular strength, you need to go out and replace that.
People throw in the towel because they don't know how to fight. You'd be surprised how much fight you have in you if you just do it.
I'm not on a special diet, but I do try to stay away from a lot of fried foods and from a lot of carbs. Yes, I eat a little bit of all of it.
As much as you need to know your operations, if you don't understand the finance side and how to do the business, you're never going to be successful. So you might be the best operator or visionary, but if you don't understand the finance side... I'm successful because I know the finance side, but I also know operations; it's not an accident.
What I don't like - and I'm concerned about - as a Houstonian is that the SEC is starting to own Houston... There's more talk about the SEC than there is the Big 12.
If you don't change and mix things up, you're going to get run over. One of the things we preach is change, change, change.
Everybody wants to be led. Except for me. I want to lead.
We're all born with different talents. I'm really not that smart, but I can see things - financially and development-wise. It's just the way we're made.
I have no issue with raising minimum wage, but then the customer can't say to us, 'Why are you raising your prices?'
You can put the greatest seafood restaurant next to an average steak house in an urban area, and that steak house will do more business than the seafood place. If you go to the water, you can put an average seafood place next to the greatest steak house, and people are going to eat seafood.
I must have a God-given talent, which is the ability to multitask, plus I have great retention. I'm not the smartest guy, but I know how to do what I know how to do. I can handle things, and I don't have a lot of highs and lows. Sure, I might do some things for drama, but I'm not really upset. If you get hit across the head, you must move on.
I know how to finance something. It's easier today because, as you're more successful, everybody wants to do deals with you. But even in the beginning, when I took Landry's public, I owned 100 percent of it. I never had investors or anything. I was just always able to find a way to do it.
I like dealing with a peer so I can bully them. Because then, it's not bullying. It's just warfare.
Everybody notices if you're the last one in in the morning and the first one to go in the evening. Always remember that as an employee.
I buy things that are good properties that I'm going to have forever. I just don't have any intention to sell anything. I believe you acquire good assets and you keep them and operate them.
We don't use consultants at Landry's. We're our consultants.
I'm there for my friends, and I'd like to think I'm there for my employees.
