Good morning!
Here are today’s highlights:
Running a business is hard enough when you don’t have cancer.
Is it the top-down management approach of fine-dinning restaurants that leads to abuse?
The Iran War is driving expectations of surging inflation in the U.S.
Why did it take Paul Downs 25 years to stabilize his business? “Most of that time,” he says, “I was just wallowing in ignorance.”
Banana Daddy’s homepage: “Please Lick Responsibly!”
THE 21 HATS PODCAST: DASHBOARD
They did it anyway: Chris Campbell started his first business at 18 and has since built and sold companies in landscaping, construction, furniture, and marketing. After his most recent exit, he spent years searching for a business to buy—and found nothing. That dead end turned out to be an opening. Instead, Chris and a group of partners—including his wife, Emily—decided to start something from scratch. The result: a plan for Banana Daddy, a high-concept soft-serve shop built around banana ice cream that would take $2 million to open. Every experienced restaurant operator they consulted had the same reaction: Don’t do it. They did it anyway.
It’s less than a month in, but so far, Banana Daddy is exceeding expectations. Fueled in part by playful, slightly suggestive, but still kid-friendly marketing—“Please Lick Responsibly!”—it draws lines around the block and has even required a bouncer to manage the crowds. Along the way, the team has discovered something they didn’t expect: a surprising number of people want ice cream first thing in the morning. “It’s bananas,” says Chris. This is just the first step in a much bigger plan.
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