Billionaire Restaurant Mogul | Jack Cowin | Veteran Entrepreneur

Have you ever wondered just how a billionaire got to where they are today? Well find out today how  Canadian-Australian businessman and Australias 23rd richest person Jack Cowin managed to get to where they are today. Together they discuss how businesses will need to adapt to survive, why the first rule of business is ‘never run out of money’ and why to be disruptive in business, you need to embrace change. 

Businesses need to adapt to what the customers new needs are if they wish to keep their businesses afloat. Since the lockdown caused by the pandemic,  customers now wish to stay at home more and consume food and entertainment from their homes. With the new COVID-19 restrictions businesses will have to adapt to the new normal and make changes to their existing business model in order to meet their customers new needs. 

Whilst it’s important to take risks, rule number one in business is ‘don’t run out of money, stay in business’. You may have many things go wrong, you may make many mistakes along the way but by not allowing your business to run out of money, nothing life threatening could happen to your business. You have to make sure everybody is ambitious, but don’t do it to the extent whereby if the ship doesn’t come in you are going to drown. 

When it comes to dealing with conflict effectively, put yourself in the other persons shoes. Try and come back to them and find a middle ground that you can all agree on. It is not easy to admit that you are wrong and somebody else is right. You need to put yourself into a position whereby you’re conscious of what the other person wants and thinks. Be empathetic and try to understand people. 

You have to treat money with respect and handle it as though it is somewhat fragile. You have to be conscious that what you have today, you could lose tomorrow. Nothing else counts if you lose your health, you could be the richest guy in the game but if you don’t have your health nothing else really matters. 

To be disruptive is to accept and welcome change. You need to be able to accept that change is a constant and nothing will ever remain the same. We’re living in a world today in which there is probably more change than has ever taken place. 

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