Small Business School
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Main Street Reborn
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Overview Transcript Case Study Video
Richard and Joe can wait for profits to come.
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Be Patient
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Transcript Segments
Small Business School
1. Reinvent Yourself
2. Learn Bank Speak
3. Do It differently
4. Hire Experience
5. Create Value For Others
6. Develop Multiple
Revenue Streams
7. Be Patient
8. Grab Attention

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HATTIE: So so far you've got five years in this?

JOE: Five years, yeah.

HATTIE: And you haven't taken any money out yet?

JOE: Nope. Nope. And we have, obviously, money invested here. But, I think this year we'll see a little bottom line, and next year I feel it will begin to be reasonable. But, then, what's a good bottom line? We haven't taken any salary for our work either. I took a fee for the design of this building, but that's the only fees that we've taken out. Richard has taken a small management fee, I think. That's about it.

HATTIE: Do you think it's important for an entrepreneur to have a mission that's bigger than just selling a ticket?

RICHARD: Oh, absolutely. I think that's what makes entrepreneurs go away. You know, entrepreneurs more than likely die doing what they're doing. They don't stop and sit around and play golf. And you've got to have a love and an enthusiasm for it. Otherwise, you can't constantly search. As soon as you're satisfied, you're no longer an entrepreneur. If you always want to know why or how to do this better or bigger or different or whatever, that's what keeps people going as an entrepreneur. At least, certainly, that keeps me going and the things I've observed about entrepreneurs. And very rarely do entrepreneurs do only one thing. You know, they're always doing this, that and the other.

JOE: I like the broad picture. I'm very hands-on in the design phase. I've never run a firm where I turned over the design to young associates because that's what it's all about. When it finally comes down to it, I want to be the shaper, the maker.

RICHARD: I don't think any of us at the beginning envisioned totally what it would be like when it got finished. (Music) (and the work goes on . . never easy, most always gratifying.)

JOE: Oh, come on, Richard. Go look at my original sketch. It's almost identical to what we ended up with.

RICHARD: Right, but . . . moving the house, the move . . . contribute the land.

JOE: No, no. We had to get all those leases.

RICHARD: We knew that we would buy the Railroad Street Building. Yeah, all of that . . . (it was) preordained.

HATTIE: (Voiceover) If you're ever in the neighborhood, visit Great Barrington. Shop, eat and go to the movies.

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