Obstacle Course

The Future of Business

Episode Summary

For episode 57, we sit down with two of Victoria's most well known and respected businesses and discuss how they are navigating the current COVID-19 crisis. Mike Miller, Founder of Abstract Developments and Mike and Shellie Gudgeon, owner's of Il Terazzo restaurant, share how they are handling the current shutdown, why investing in people is key and how they are remaining hopeful for the future of business. They also share their fascinating origin stories including how Mike Miller used to draw up his plans on a napkin. This hopeful episode will inspire you to remain true to your values and priorities, now, more than ever. Oh yeah, be sure to stick around until the end as you'll never believe who stopped in for supper at Il Terazzo right before the shutdown. This! Is Obstacle Course. Let's Go!

Episode Notes

Mike Miler is the CEO and Founder of Abstract Developments

Mike bought his first house as a 19 year old at 10.5% interest. 

"If you're getting into business to make money, you're going about it the wrong way. If you're getting into business because you're passionate about something, you want to help shape your future and you want to be part of something bigger than yourself and make your mark in the world, that will fuel you." Mike Miller

"Fake it until you make it. I had a napkin." Mike Miller.

"I loved what I was doing and it wasn't about the money." Mike Miller"

"When you're knee deep in shit, know that you're in shit and breathe through it because this too shall pass." Mike Miller

Here's another great interview Mike gave with CBRE. 

Prioritizing is crucial when going through tough times. 


Mike and Shellie Gudgeon

Mike and Shellie Gudgeon are the proud owner's of one of Victoria's best restaurants - Il Terrazzo.

In the beginning, Mike and Shellie opened 5 restaurants in 5 years. Mike's strength was fiscal responsibility. 

"The keys to our success is fiscal responsibility, designing our restaurants around the chef and keeping long term employees. We don't micro-manage. We empower them." Shellie Gudgeon

"Most people think restaurants are about cooking and recipes when in actual fact restaurants are about systems and it's the duplications of those systems over and over again that allows you to do the volume and allows you to make money. Most people open a restaurant because they've been told they are a good cook. Anyone can look up recipes." Mike Gudgeon.

This is not the end of restaurants. People need to connect. We as a species needs to connect." Shellie Gudgeon.

If you don't know who Harry and Meghan are... just google.