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Stirring Things Up: Billy Downs Finds a Win-Win in Everything - Business Goal Setting Series
When Billy Downs opened his first BD’s Mongolian Barbeque in suburban Detroit almost 15 years ago, his goal was simply to see his restaurant succeed. But in the back of his mind, there was also a master plan – to see BD’s expand throughout the state and country.
Today, BD’s has 31 locations in 10 states and one in Ulan Bator, Mongolia. Downs’s initial investment of $25,000 and a signing note for $100,000 has expanded to an empire that will top $63 million in revenue for 2006.
“I have invested literally hundreds of thousands into this business and taken personal risks – loans – of as much as eight million,” says Downs, who named his headquarters “The Yurt” after Mongolia’s hut-like shelters. “Having said that, our financial picture is strong. Our debt is being reduced at an aggressive pace. Someday in the near future, I look to be debt free.”
Goal 1: Give Control to the Customer
A graduate of Michigan State University’s School of Hotel, Restaurant & Institutional Management, Downs says he didn’t have a strong financial background when he started. But he knew how to hire the right people for the job. “Our CFO, Todd Pahl, has a terrific financial mind and is a great asset to me,” says Downs, whose business card once read “Mongo Man.” His upbeat personality and obvious sense of fun sets the tone for his eateries, and he still drops in on them to cook on the two-ton grill that’s the centerpiece of every Mongolian Barbeque.
Author: Alice Rhein
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