Tilman Fertitta’s golden rules of business leadership

It should be no surprise that a book titled Shut up and Listen! is packed with hard-nosed business strategies. According to Tilman Fertitta, that no-nonsense style is the very thing that made him a billionaire – and here’s what it can teach you...

Small details matter. Although Fertitta owns 600 restaurants, hotels, amusement parks, and aquariums in more than 15 countries, he’s known for being hands-on. He famously used to root through the garbage in his kitchens just to find silverware that had been accidentally discarded.

Customer care can make or break a business. It’s free to be nice but it costs a lot to be rude. There’s no such thing as a spare customer, so make them feel like they're the center of your world.

If you don’t know your numbers, you don’t know your business. It doesn’t matter how good your product is. The metrics are what determines if you’ll thrive or struggle – so make sure you know them inside out.

The 95:5 Rule. Most businesses tend to be good at 95% of whatever they do. It’s how you handle that little bit extra that will set you apart. Find your weak 5% and do whatever it takes to excel in those areas.

A successful entrepreneur is really just an opportunist. As long as you’re coming up with something new or better, you’re on the right track. And if you can do that in times of chaos or uncertainty, you’ve got what it takes.

“Live your leadership.” Anyone can lead when things are going well, but hardship tests you and reveals what you’re really made of. To that end, hire people stronger than you. Don’t worry about them taking your job; in reality, they’ll help you keep it.

Never stop worrying. Fertitta considers himself fearless, but he makes a point of staying vigilant about potential bumps in the road. Your success is always under threat – and whatever form that threat takes, it will likely emerge from your blind spot.

Change is inevitable, so plan for it. Have enough working capital in reserve (or good credit lines) to seize timely opportunities (like buying up struggling businesses). Never be satisfied: it will only impede your growth.

It’s never over until someone padlocks the door to your business. As long as you can cover the payroll, as long as you’ve still got a product to make, keep going – and eliminate the word “no” from your vocabulary.