The Blank Foundation recently hosted a group of community leaders to hear a presentation by James P. Owen, the author of Cowboy Ethics and The Try.  This restaurant broker was fortunate enough to be in the group when Falcons owner Arthur Blank introduced the speaker. 

Blank shared his first introduction to the writer when his daughter bought him the book, Cowbow Ethics for a special occasion a few years ago. (This restaurant broker now knows what it is you buy for billionaires by the way – it’s a book.)

As Mr. Blank shared his passion for this author’s work, it was apparent that it made a meaningful impact on him.  He decided to share that impression with others in Atlanta by bringing the author here to speak to community leaders.

I was struck by both the passion and straightforward logic of the author who was clear that he was not a cowboy by birth but was like many of us, enamored with the settling of the wild west and the cowboy law that governed on the plains both a hundred years ago and today.

For a restaurant broker, many of these ten principles to live by have as much application to the restaurant industry and our buyers and sellers as they do in everyday life.  Each principle (and there are ten) translate to a way of living your life and operating a business that is a business model for modern ethics.

Here are the Cowboy Ethics or 10 Principles to Live By as outlined by the author and championed by Arthur Blank.

1. LIVE EACH DAY WITH COURAGE

It’s clear to me as a restaurant broker that both buyers and sellers live up to this principle when they stake their lives and their family’s livelihood in the American dream.  There are no guarantees in entrepreneurship so it takes real courage to start a restaurant, buy a restaurant or even sell a restaurant. 

2. TAKE PRIDE IN YOUR WORK

This principle is apparent in the restaurants we sell that are successful and even for some that are not as successful. 

3. ALWAYS FINISH WHAT YOU START

This was a familiar lesson in my home growing up and it rings as true today as a principle both familiar on the plains and evident in practice.  Don’t start something you can’t finish or finish what you start.

4. DO WHAT HAS TO BE DONE.

The fourth principle, to “do what has to be done” makes me think of the restaurant owner that covers a shift when his cook calls out sick or covers the payroll when the receipts run low for the week.  There are a lot of people in this industry that don’t ask for credit, they simply do whatever it takes for success.

5. BE TOUGH, BUT FAIR

Being tough is a principle that may not be as “stylish” today where everyone gets an award for showing up.  As a restaurant broker, I find it critical to be tough on both buyers and sellers some days and I make no apologies for it as long as I’m being fair to both parties.

6. WHEN YOU MAKE A PROMISE, KEEP IT!

This is another of the old fashioned type principles that cannot be stressed enough   Does anyone remember what happened before cell phones when you had a meeting?  I do.  You simply showed up, on time at the appointed meeting time and place.  Now it’s all too easy to simply “call” to say you’re running late.  I lose track of the people buying a restaurant that make a commitment to follow up by a certain day or time only to totally fail on this time honored premise to keep a promise.

7. RIDE FOR THE BRAND

Branding was born in the Old West with a mark associated with the livestock of every rancher.  That brand stood for ownership and still does today.  For those working for a company, this is still sage advice.  Ride for the brand and wear it with pride.

8. TALK LESS AN SAY MORE

As a restaurant broker, my job is sales.  I need to remind myself of this principle of the cowboys.  Sometimes the greatest impact comes from saying nothing. 

9. REMEMBER THAT SOME THINGS AREN’T FOR SALE

Honor.  Loyalty.  Truth.  These are just a few of the things that can’t be bought or sold, a principle in the Old West that’s just as relevant today.

10. KNOW WHERE TO DRAW THE LINE

The last principle is knowing where to draw the line.  You always know where stood with a cowboy if you think back to those old westerns.  If you crossed the line there was clear retribution. 

In addition to these ten principles, the author also spoke to a way of life for the cowboy known as “the Try.”  The “try”in cowboy speak means never giving up and continuing forward.  Jim has taken this entire principle into a new book and even a series being taught to young children in school.  Between the ten principles and the “try,” he is sharing a message of honor, self-reliance and integrity in a world where it sometimes feels to be in short supply. 

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