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Starting a New Business

10001.jpgTen years ago this spring, I bailed out of Corporate America.

My last "job" was with KPMG Peat Marwick where I was charged with selling tax shelters to very wealthy people. I feared that the tax shelters were illegal and resigned. As it turns out, the government agreed with me about the illegallity of the tax shelters--a few years ago, 16 KPMG partners were indicted, the firm admitted wrongdoing, and paid $456 million dollars in fines. The individual defendants were left to fend for theselves.

Since then, on my own and more recently in partnership with my wife, I've had a successful consulting business--Centerg, Inc. It's been a pretty good ride.

The truth is, I've used the business to finance my passions for fiction writing and high-end cooking. Like I said, it's been a pretty good ride. But for a variety of reasons, I'm cutting back on my work for CenterG and starting a new business--Joie de Cuisine. Basically, I'm turning what I know about cooking--and I've come to know quite a lot--into a business.

To date, there's been a lot of work--planning and thinking and learning--to get the new business up and going. We've filed for business permits, obtained an Assumed Name, opened checking accounts, and run up a credit card bill. I've created menus, joined a personal chef organization, and attended training in Chicago. We're getting close to opening with several Grand Opening parties scheduled for next month. I'm scheduled for more training in Philadelphia next week.

I'm as pumped about it as anything I've done. It's both thrilling and scary.

We've got really delicious, really beautiful, really interesting food to put on a plate. We've got a strong marketing plan.

Now, we just need to find that first client. Unlike my first business venture, ten long years ago, where I had a paying client or two right out of the box, we're going to have to scratch for business and compete against the local restaurants.

But it'll be worth it and we'll hold our own, if the food is good as I expect to be.

As a footnote. Just yesterday, charges were dismissed against most of the individual KPMG defendants. The dismissal was not on the merits of the case--the firm already conceded wrongdoing. Instead, the dismissal was on a "technicality." As it turns out, the Prosecution had pressured the firm not pay the defendants' legal fees, thus interfering with their 6th Amendment right to counsel--at least that's what the trial judge thought. His decision will likely be appealed.

I'm sure glad I'm just a cook and a writer.

Posted on Tuesday, July 17, 2007 at 05:44AM by Registered CommenterGary in | Comments2 Comments

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Reader Comments (2)

Gary,

Welcome back! I was wondering who I was going to rely on for commentary in your absence. Do me a favor and promise that you won't consider quitting again until this damnable war is over. I'm not sure how you feel lonely in a majority of 70% but sometimes I think that you and I are the only ones who really hate this thing.

Sounds like the business plan is progressing nicely. Soon you're gonna be real busy, and wondering how to balance the business, your family, writing, commentary, as well as ordinary stuff like mowing the yard. I'm sure your passion will carry you. I know I don't have to say it, but remember to enjoy it all!

Just a cook and a writer, huh?

Regards,

Jeff
July 20, 2007 | Unregistered CommenterJeff Freers
Jeff--welcome back to you. Yeah, I thought I could give this up, but something was really missing for me when I quit this blog. I suppose I'll keep at it for a while. As for the war--I'll have more commentary on that in the future. For the present, I spend a lot of time thinking about the kids over there fighting. I don't know what I'd do if it was Reilly's turn.
July 21, 2007 | Registered CommenterGary

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