Section 2 Omar, HAMZA PHONE

The speaker describes a business model combining lean start-up and built-to-large concepts for pop-up restaurants. They emphasize starting with minimal resources and feedback from customers. They initially planned to sponsor aspiring chefs but shifted to working with well-known chefs due to limited capital. They also switched from profit sharing to revenue sharing for stability. The pivot towards a community-based approach aligned with the business idea. The speaker expresses enthusiasm and determination for their venture. Yeah, again, man. Yeah, all right, so I lean into a mix of lean start-up and built-to-large. Pop-up restaurants basically, like, you start with as little as possible because we don't have the cost. We don't really need much to start a pop-up restaurant. And, you know, we start with, like, little, as little as possible as, like, 20 people, and people just start coming in. And that fell into the line of built-to-measure and learned by Eric Ries because basically it was real-life planning of, like, feedback from the customers themselves, and then after that we could learn. And since we basically started with nothing, just using networks and everything for, like, the chefs, friends who own venues, the idea of sponsoring and endorsing aspiring chefs and then after that paying it for them so they could get exposure, we didn't really have the capital for that, so I had to scrap that idea basically and just focused on well-known chefs. The other thing was, after doing it for a couple of while, I learned that it was better for the business model if we did revenue sharing instead of profit sharing, just because profit sharing was a little bit unstable in most days. You don't know how many turnovers you would have in one day and then the next day, so it would just make sense for us to do revenue sharing. And that's where the feedback came from, from the customers, and we just did it straight. And since the idea centered around a community-based business model, doing startup methodology mixed with a brick-and-mortar strategic approach fits perfectly with the business idea, so that's where my pivot happened. As for my pivot, as I mentioned before... What? No! Thumbs up!