How Tim Ferriss Helped HOME’s Liz Cottam Build A Million-Dollar Restaurant Business

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In the past five years Liz Cottam opened three Michelin Guide-listed restaurants and hit a group turnover of £2.3 million ($2.8 million).

“Who wants to be a chef or even crazier, a restauranteur? It’s the highest risk start-up category there is.”

With growing confidence, she eventually submitted a strong commercial proposition to a director at a multi-billion pound hotel company—leaning on her corporate learnings—asking if she could run a four-month residency in one of their restaurants in Leeds city centre. And they said yes. “Thankfully, guests loved what I was doing and I was getting better each week. In spite of the hardship of it all, I wanted more, which was the proof I needed. If I could enjoy it despite all the obstacles, this must be what I wanted to do.”

“My team knew I had big dreams, high standards, and bought into the hard work needed to achieve the success I wanted. However, whenever my focus moved from one part of the business to another, something or someone become undone. It was exhausting, incredibly frustrating, and actually terrifying.” “His interviews deconstruct world-class performers to extract the tactics, tools, and routines they use to be supersonically successful,” she says, “and the first one happened to be with Nick Kokonas—who is one half of the team behind one of my favourite restaurants in the world Alinea.”

“This was a huge investment of time and money for me and most definitely a massive leap of faith,” she says. “I was headstrong and what Iwas a capable businesswomen who had managed 200 people in the past, so getting any kind of help was uncomfortable to me, but I knew I was really struggling, so the desire to sort it out came before my ego.

 

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