192: Why Passion Alone Can’t Save a Failing Business with Randy Cohen - 8FE

Have you ever thought saving a dying business might be a fun challenge—or even a legacy move? Randy Cohen did. After building TicketCity into a $100M+ company from just $1,200, he figured reviving Z’Tejas (a beloved Tex-Mex chain in Austin) would be a way to give back and preserve something special. It wasn’t. In this episode, Randy opens up about what really happened when he bought the restaurant chain out of bankruptcy and tried to turn it around. Spoiler: it didn’t work. And the reasons why are something every entrepreneur needs to hear. Randy and I also talk about: What it means to be an owner vs. an operator How ego can wreck even the best intentions Why culture doesn't stick unless you're showing up every single day How COVID became the final gut punch that forced Randy to shut it all down  What it emotionally takes to walk away … and so much more! This one’s raw, real, and loaded with hard-earned wisdom—especially if you’ve ever held on to a business too long or felt the weight of trying to keep it all together. Tune in now.  — This episode is part of the 8FE (8-figure entrepreneur) series, where we talk to entrepreneurs who have already passed the million-dollar mark.  — Key Takeaways: 00:00 Intro 01:40 Why open a restaurant? 08:49 Let’s talk culture 14:36 Investing in a bankrupt business 29:42 When it’s time to sell 34:13 What it emotionally takes to walk away 39:06 The price of not running your own business 47:25 What’s next for Randy? 51:06 The Gathering of Titans 56:03 Advice for entrepreneurs starting out — Additional Resources: 🔹 Randy on Instagram: https://www.instagram.com/randyscottcohen/  — ➡️ Learn more at: https://beyondamillion.com/ ➡️ Watch full episodes here: https://www.youtube.com/playlist?list=PL5hbIUyUb68J3nhHSAGDrmUxX4vgXQ4b8 ➡️ Subscribe to our YouTube channel: https://www.youtube.com/@Beyondamillion?sub_confirmation=1 — Let's Connect: 🔹 IG: https://www.instagram.com/bradweimert 🔹 TikTok: https://www.tiktok.com/@beyondamil 🔹Twitter: https://twitter.com/BradWeimert 🔹 FB: https://www.facebook.com/profile.php?id=100089061999787 --  Beyond A Million is a business podcast that reveals the scaling secrets of 8, 9, and 10-figure entrepreneurs. Every week, we share an exclusive behind-the-scenes look at the best business growth strategies that work.  If you're an entrepreneur or business professional who's looking to level up & continue to scale far beyond the million-dollar mark, this podcast is for YOU! Tune in weekly for new interviews with Easy Pay Direct founder Brad Weimert and business expert guests who absolutely crush it in their area of expertise. Learn world-class marketing and sales tactics with elite-level business strategies in sales, marketing, operations, finance, and wealth building. Be sure to give us a follow wherever you get your podcasts so you never miss a new episode!