Jesse Jacobs, Owner of Samovar Tea Lounge: “SF Business Times Entrepreneur of the Month”Published by SamovarLife on March 06, 2009 under Featured Press, In the News, Press Room Friday, September 12, 2008 HQ: San Francisco. Background: Born in Brookline, Mass., raised in a commune and graduated with a bachelor’s in international relations from University of Massachusetts-Amherst. Taught English in Denmark and Japan. Founded a web startup in Boston before driving to California for the tech boom. After the dot-com bust in 2001, founded Samovar. Age: 37. Web site: samovarlife.com. Big Picture Reason for starting business: I wanted to create peace. Tea is the perfect vehicle for creating peace. Most difficult part of decision: Risking everything — money, family, friends and free time. Biggest plus of ownership: Doing exactly what you love. Watching an idea turn into physical reality. Biggest drawback: There is no “clocking out” and going home for the weekend. Ever. Biggest misconception: Getting rich quick and defining your own schedule. Biggest business strength: Our model is a tea experience to make people feel good, like going to China or visiting a spa. Biggest business weakness: Trying to be a sustainable business in San Francisco is really expensive. Biggest risk: Putting more money and time into the business. We finally turned a profit last year. Biggest mistake: We were undercapitalized and didn’t do things professionally at the start. Smartest move: Hiring staff looking to grow with the company and having “open-book” accounting, where the dishwashers knew the gross profit and understood how breaking a dish impacted the bottom line. Biggest worry: Growing too fast, and not delivering the same Samovar experience, mission and culture. Top source of inspiration: Dalai Lama. Media Contact: |
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