Debra Guzov's Business Tips
Guzov’s Good Advice
Something that all chefs, not just chef-owners, need to watch out for is the non-compete clause found in many contracts. Lawyer Debra Guzov recommends negotiating a non-compete out of the agreement.
- “If you’re working in a city like New York you don’t want to be precluded from working in a certain area because of your contract. You don’t want to be kept out of your sweet spot.”
- “Don’t rush into a business decision. A lot of people who are creative or provide a service are not always thinking of the very important business details.”
- “Everyone has to have a shared vision or things tend to go astray.”
- “Sometimes in an effort to get the business started people will take money on terms that are disagreeable: the interest rates are onerous, you’re giving people with the money an equity stake in the business that is large and will eventually tie your hands behind your back.”
- “Pause and think if this business partnership is the right one for you.”