Restaurateur Talks About Successful Entrepreneurship at Weitzman Institute Event

by - October 18th, 2019 - Corporate, Events, Students

restaurateur-talks-about-successful-entrepreneurship-at-weitzman-institute-event-phil-romano
Phil Romano

Renowned Dallas restaurateur Phil Romano likes to say he turns problem-solving into profit. But with success also comes responsibility, he told students at the Naveen Jindal School of Management.

“When I was young, I did everything to make money, and the next stage was doing things to get recognition. Now, I’m in the third phase: Making a difference in people’s lives,” he said. “It’s more gratifying, and it’s fun.”

Romano spoke Oct. 3 about his philanthropy and his new book, The MAD Entrepreneur: Making a Difference in the World, in Business and in Life (Pennsauken, N.J.: BookBaby, 2019). The event was sponsored by the Jindal School-based Herbert D. Weitzman Institute for Real Estate, which provides scholarships, training and financial assistance to real estate students of all socioeconomic backgrounds.

On the cusp of his 80th birthday, Romano was presented with an over-sized birthday card signed by Jindal School students, who asked him questions about his storied career.

The key to success in business, he said, was coming up with fresh ideas.

“Is money important? Yeah, but it’s not nearly as important as having the right concept and presenting it properly,” he said. “I love creating concepts and doing things differently than anybody else.”

The New York-raised, Dallas-based Romano has created dozens of restaurant and food concepts, including Fuddruckers, Macaroni Grill, EatZi’s and Trinity Groves.

He also was an early investor in heart stents, which made him millions and taught him the importance of listening to your gut instinct.

“My accountant said, ‘Don’t do it.’ My attorney said, ‘Don’t do it.’ But I did it anyway, because I liked it and I understood it: Everyone has a heart, and this is a solution to a problem,” he said. “I’ve got two stents myself. … If I didn’t, I wouldn’t be standing here today.”

Romano talked at length about what it took for him to become a successful entrepreneur.

Being passionate and showing his emotion is how he leads by example, he said. “When something’s wrong, I go ballistic,” he said. “You’ve got to see that I care about what I’m doing, and if I didn’t go ballistic, people would think it’s acceptable.”

For people with strong personalities like he has, entrepreneurship is not a choice, it’s a calling.

“Being an entrepreneur isn’t survival of the fittest. It’s survival of the unfittest: I’m unfit to hold a job because I don’t want people telling me what to do,” he said. “I want to make my own decisions, reap the harvest and be responsible for the consequences.”

He also feels a responsibility to his community. in 2007, Romano created Hunger Busters, a Dallas-based hunger-relief organization.

restaurateur-talks-about-successful-entrepreneurship-at-weitzman-institute-event-randall-guttery
Randall S. Guttery

“Mr. Romano is a successful entrepreneur, but he’s also a tremendous philanthropist who’s fed countless thousands of people over the years,” said Dr. Randall S. Guttery, director of the Weitzman Institute.

“He’s a role model who’s given a lot of his earnings back to the community. That’s an important thing for students to see.”

More from Corporate - News Category

New Jindal School Certificate Program Addresses Need for Education about Sustainability in Aviation and Travel

New Jindal School Certificate Program Addresses Need for Education about Sustainability in Aviation and Travel

Jindal School's Tina T. Hoang Endowed Scholarship for Management is a Team Effort

Jindal School's Tina T. Hoang Endowed Scholarship for Management is a Team Effort

Jindal School Alumnus, Donor Speaks at School’s Largest Fundraiser

Jindal School Alumnus, Donor Speaks at School’s Largest Fundraiser

Jindal School Dean, Other Experts Discuss Challenges and Opportunities of Artificial Intelligence

Jindal School Dean, Other Experts Discuss Challenges and Opportunities of Artificial Intelligence

Jindal School Symposium Stresses Cooperation among North Texas Stakeholders to Promote International Business Attraction

Jindal School Symposium Stresses Cooperation among North Texas Stakeholders to Promote International Business Attraction

UT Dallas Jindal School students in a campus coffee shop requestion information

Request Information

Thank you for your interest in the Naveen Jindal School of Management, UT Dallas. Tell us a little bit about yourself, and we’ll send you customized information about our programs. We hope to meet you soon.

Request Information