In this video I will walk you through my answer in pseudocode to the exercise provided. You might see something that I'm missing because 15 steps is too few. There are just more things to do than 15 steps. There are things that I've omitted, like creating a logo, creating a website, just because other things seem to be higher on the priority. So I'll share with you my steps and there is possibly some overlap with yours. And if some things are missing or present that are interesting for you or for me, please make a comment in the Q and A of this video, I'll be curious to hear.

Steps to Opening a Restaurant

1. Research the supply and demand of the restaurants in the area in which I want to open.
2. Decide on whether I want to open the restaurant. That decision is still a part of your decision.
3. Decide on the type of restaurant that's in demand, that you can open, that is also within your skill set or knowledge.
4. Plan out the finances and how long it will take to break even.
5. How to raise those funds.
6. Research and apply for different licenses and permits.
7. Hire a lawyer or legal team.
8. Research the real estate. Where to lease the space as well as getting a lease for the space, buy all the furniture, remodel the space and so on.
9. Come up with the restaurant name and branding.
10. Plan out the grand opening.
11. Hire chefs and staff.
12. Plan out the menu.
13. Target the opening date.
14. Train the staff. You don't just hire them, but you train them.
15. Open the restaurant.

Naturally, I skipped some steps. But you see, once you write things down, you might realize I don't really want to hire a lot of staff and manage them. This is not for me. And I don't want to deal with real estate and lawyers and all this stuff. It's not for me. Whereas if you plow into it and you think restaurant sounds amazing, I like hosting and I love food. Of course, restaurants are for me. And then once you understand the finances of it, how difficult the finances can be, how difficult it can be to come up with the money, then perhaps you might think to yourself, perhaps this isn't for me, because admittedly, starting a restaurant is a difficult business.

And you might think to yourself, well, I still want to create financial wealth or financial security for myself. And so you'll start to problem solve that problem in a different way, perhaps by focusing on your career or starting a different business. You see, so this problem of starting a restaurant was just a proposed solution to actually some higher level challenge problem, which was how do you create financial safety or wealth?

But in any case, I may be getting a little bit ahead of myself. This was just an example of how writing out the steps, essentially, pseudocode really helps you focus on one thing at a time, one thing at a time, one thing at a time. And then if there's something you don't want to do or can't do, you might realize I need to redo my solution or rethink my situation. And without thinking ahead like this, you might just plow in and like three months later realize this business is not for me. So that would be a far greater waste of time and money. So that's the benefit of pseudocode.