Fall 2009

 

Am I Turning Into My Father?

 

Recently, I consulted with Ajay Juneja, a software engineer who we’ve backed, to find out what could be done to secure TABASFUNDING better rankings with search engines on the Internet.   He advised me to write a weekly “blog.”  That suggestion does not work for me - it’s challenging enough writing this quarterly newsletter. There needs to be value in what I write.  I try my best to make my comments useful, pragmatic, and interesting.

           

When I was young, my father embarrassed me with some of the things that he did.  Sometimes he walked around the house in his under shorts.  Often, he said exactly what came to mind, even if it was uncomfortable. 

           

If a conversation or the entertainment did not hold his interest, he would quickly excuse himself.  Conversely, if we ever saw a celebrity or a person that I really wanted to meet, I would generally be too shy to approach that person, but Dad would go right up to the person, introduce himself, and then introduce me.  I was embarrassed, but secretly relished the opportunity to meet the politician, celebrity, or business tycoon.

           

 

Now I find myself doing the same thing with my children.  My daughter Melissa (20), who is a runner, pointed out several people stretching one day that she thought were Olympians.  When I suggested that we stop to say hello, she was too……embarrassed.  I went ahead and introduced us, confirmed that they were whom she thought, and we all had a nice chat.

           

I have little tolerance these days for topics that don’t interest me.   Rather than sitting politely at a drawn-out tribute dinner to a politician, I will stop by the reception and then make a quick exit. 

           

I am also less concerned with what people think about me.   Davy Crockett said, “Be always sure that you are right, then go ahead.”  I tend to follow that philosophy. 

           

These reflections have to do with getting older.  I’m turning 60, and am now a grandfather.  We don’t know what the future has in store for us.  We all need to find the right balance between what we have to do, and what we would like to do.

           

 

 

 

In 2005, I compiled a list of my Dad’s frequent expressions regarding business and life.  I picked out a couple of them for your enjoyment.  Let me know if you agree or disagree.  

 

Pearls of Wisdom – Daniel M. Tabas

On achievement: “You can do anything that you want to do IF you really want to do it.”  My dad often staked out difficult positions, often ones with which I did not agree, but usually by applying resources to them, and by persistence, he could make water run uphill.  He once bought ten hair dryers at Kmart based on getting a rebate from the manufacturer, Conair.  They only sent him one rebate.  He pointed out that there was nothing in the legend on the coupon that so stated.  He went all the way to the president’s office, and threatened a class action lawsuit before they gladly gave him the rebate for the ten hairdryers that he bought.  (What did a bald guy need with ten hair dryers?)

On business products and services: “You can’t fool the public.”  We were in the foodservice and hospitality business, first at the Downingtown Inn, and later at the Riverfront Restaurant.  Dad was fanatical about the quality of the foodstuffs and the preparation of the dishes that we served.  He commanded that wait-staff not have more than 4 tables assigned to them so that they could offer the best service.  He personally reviewed every complaint.  Being great at complaint resolution is, in my opinion, a sign of a high performance organization.

On the importance of business profits: “After the banquet is over, you want to have something left besides soiled linen and dirty dishes.” So many times I visit businesses with a decent amount of sales, but not making a profit. The owners then lament “IF we could only increase sales THEN we would be profitable.” My frequent conclusion is, you have a decent amount of sales now.  Why are you not making a profit on your existing business?  The best businesspeople are disciplined enough not to chase after business which is not profitable, but plenty of business owners want to get that “status” account, without analyzing whether it will be profitable for them. 

On making decisions: “Two heads are better than one; three heads are better than two.” My Dad loved to hear others’ opinions before making a decision. You need feedback from others, especially, if you are an entrepreneur. You can be on a power trip, wanting to make all of the decisions, but you will make better ones if you get opinions from others. Sure it delays things, but sometimes you make the right decision by not making any decision- avoiding the pitfall had you moved forward.