If you’re looking to acquire a busi- ers such as Tony Bennett. And taking
ness, whether large or small, Breitling another roll of the dice, they decided
advises scouting around for one that to offer the best odds in town.
is underperforming and then evalu- Their turnaround efforts were
ating whether you can improve its chronicled in the Fox-TV reality show
performance. Then strike when the The Casino.
timing is right. Dubbed the “Odds Couple,”
When Breitling and Poster decid- Breitling and Poster received encour-
ed to get into the gaming business, agement and valuable business les-
the overall valuations of casinos in sons from legendary Vegas entrepre-
early 2003 had fallen to an unprec- neur Steve Wynn.
edented low. He told Breitling and Poster
The partners focused on the that success requires people who
Golden Nugget in a less-than-fl our- can create energy and enthusiasm.
ishing area of Las Vegas, and they You won’t obtain that success unless
identifi ed several ways they could you’re learning from your failures,
increase business. Wynn advised.
They plunked down the fortune The pair apparently learned well.
they made in the travel business — Breitling and Poster today serve as
hence, the name of the Breitling’s senior vice presidents of strategy and
book Double or Nothing — and pur- development for Wynn’s Las Vegas
chased the property. operations.
With faceless corporations run- Breitling recalls his early days in
Small Business Advocate, believes ning most of the gambling Mecca, Vegas: “We always had pizza days,
challenges may be bigger in the pres- they decided to supply a missing Krispy Kreme days, and our dog,
ent economy but good opportunities element at the Nugget. They worked Bally, roamed the hallways greeting
still exist. to make each guest feel like a king to customers.
“Competitors may just be laying encourage repeat business. “Bally was present in all of our
back and saying nobody wants to buy They were the state’s youngest negotiations, from when we met with
anything today. That’s the best time casino owners and this was their fi rst banks to when we closed our deal
to go out and get business,” says gaming venture, but they successfully with Expedia,” he says. In the
Blasingame, who operates an online brought back personalized service Breitling playbook of winning busi-
knowledge base for small businesses and the glamour and style of “vintage ness practices, it defi nitely doesn’t
called
Askjim.biz. Vegas,” featuring Sinatra-era perform- have to be a dog-eat-dog world.
Q&A WITH TOM BREITLING
‘YOU NEED TO TRY EVERYTHNG’
WITH CALCULATED RISK AND DARING better. Deal-making takes gut instinct and
innovation, Tom Breitling made not one . . . analysis. The risk-taking needs to be well
but two fortunes by age 35. Now president calculated. We’ve been called fearless [but] we
of Breitling Ventures, a private investment just happen to believe in ourselves.
company, he continues to build cutting-edge You need to try everything, because you
businesses. Even today’s faltering economy What is the process of building a successful never know what is going to work. Tap your
offers opportunities for the imaginative and business? own resources, pitch friends and family, and
the daring, he tells Newsmax. Find a need in the marketplace, work constantly be on the lookout for someone to
hard to fi ll it, and don’t let anything stop you. believe in your idea and your vision.
How can aspiring entrepreneurs tell if they The famous oddsmaker Bob Martin used to
have the right stuff? say, “If you think you have the best of it, take Can aspiring entrepreneurs still fi nd
If you love what you do, you do it better. dead aim, and hold on for the ride.” Live and opportunities on the Internet?
It’s not the money. My philosophy isn’t “build breathe your business as an entrepreneur. The Look at the rise of companies like
to sell,” it’s “live to build.” harder you work, the luckier you get. Facebook, MySpace, and Google. The last fi ve
years have seen a tremendous change in
What’s the secret of surviving hard times? This is a diffi cult time to raise money. What do consumer behavior as the mass market
You have to focus on making your business you suggest? becomes more comfortable buying online.
DECEMBER 2008 / NEWSMAX MAXLIFE 71
0070_Money_Risks.indd 7170_Money_Risks.indd 71 111/7/08 11:35:44 AM1/7/08 11:35:44 AM
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