T I L M A N F E RT I T TA
fire station. When the city said that they wanted to get rid of it, I walked in there and I knew I wanted to do a big public aquarium on the ground floor, and a huge restaurant with a large tank on the second floor which would help draw people in, third floor I’d do a private dining room, and the fourth would be support. Outside I’d build a few amusements and make it fun. Then they said we also have this old waterworks building and that I couldn’t tear it down, but that I could do something in it. That’s when I came up with the idea to put a giant shark tank inside and have a train that goes through it. I am very fortunate that I have a wild imagination. (laughs)
What would you say is the most important characteristic a business person should have? Well, we’re all business people. What has made me successful is my drive, and number two I understand the operational side of the business, but yet I know how to create. I can build from my imagination, and then I can operate it. Usually a developer is a developer, and they get tenants to maintain the property. Nowhere else in America is someone able to maintain the restaurants, hotels, entertainment, etc. in one property development.
You’re a contributor to several charities, do you have any that you hold close? Tilman Fertitta photographed at the construction site of Landry’s new corporate office and Tilman’s mixed-use Houston tower - The Post Oak in Houston, TX.
unbelievable. Downtown we’re building a new Grotto, and it will be nothing like the current one. It’s a real popular restaurant, but I am doing it with a twist and want to cater to the younger people. I am always building. I am building a couple of other unique restaurants inside of the hotel properties. I am always very excited about what is new and cutting edge, and it is really my mission to bring those ideas to Houston.
How does your team come up with a concept and how do you know that that’s the direction you want to take? Everything usually comes out of my head, and I have a wonderful team that’s been with me forever. Like the Aquarium restaurant downtown, that used to be a
Number one right now for me, I am Chairman of Houston Children's Charity and have been for many years. I love it because we are a children’s charity that does not operate in a silo, only focusing on one thing. We do multiple things for the community, like buying vans for people who are mentally or physically handicapped so their family can drive them to services that they need. I love being Chairman of the Houston Police Foundation. Yesterday I approved the purchase of four hundred specialized vests for officers, so they could operate more safely. Of course, the University of Houston is also very special to me and I am Chairman of that board as well. I just gave twenty million dollars for them to build a new basketball arena. I love doing stuff for the police, children, the university.
How do you think the industry has changed over the years? Well, the whole industry has changed everywhere. Texas is very diverse, you have to cater to a lot of different people, and the industry is always changing, but it is very easy to do business here. I love
35
Texas, I love the uniqueness of Texas, and I love being from Texas. No matter where you go, if you say you’re from Texas it makes people raise their eyebrows.
What’s the best advice anyone has ever given you? I’ve never had that one mentor, but I have really tried to listen to a lot of other people. There is not one singular thing or piece of advice that has really struck me, but I try to learn every day. I want to wake up every morning trying to be a little smarter than the day before. A lot of young people today, who are very smart, don’t appreciate history. When you have done something a lot of times, you are just better at it.
What is your personal definition of success? Anybody who does what they are passionate about very well, and who exceeds expectations, is successful to me. I have said this many times in speeches, “money is not a definition of success.” You can be a great artist, a great musician, you can take the engine of a car apart and put it back together --that is pretty damn talented to me. I can’t even change the oil to my car! (laughs) A lot of people make money accidentally, but I believe that it is what you do and how you do it, not what you get in return that makes you successful.
If not business, what other career paths would you have taken? None. (laughs) I’m not good at anything else! I think we are all born with a certain amount of talent and everyone just needs to find what they do very well. I was born to work in business, and I was blessed enough to find that out at a very early age and go with my gut to pursue it.
What advice would you give to a young entrepreneur who wants to open a business? If you get a partner, don’t get one that knows what you know. If you’re strong in operations get someone who knows sales, and vice versa. Whatever you think it is going to cost to stay in business, you better have a lot more capital. People usually fail because they are under capitalized. It is important to understand your flaws and weaknesses so you can compensate for them. I find the most successful entrepreneurs are people who do not believe that they can do it all. ‡