From Wealth Management To Launching Successful Restaurants | David Steele
In this episode of the Beyond the Wealth Podcast, host Andres Sanchez welcomes David Steele, cofounder and CEO of One Wealth Advisors and executive chairman of Flour and Water Hospitality Group. David shares his journey from starting a financial planning practice at age 24 to founding one of the most successful restaurant groups in the San Francisco Bay Area.
David’s philosophy of building businesses “the right way” offers a refreshing perspective in an age of quick exits and viral successes. From creating lasting client relationships in financial services to scaling multiple restaurants into a thriving consumer brand, his story is a masterclass in entrepreneurship, resilience, and strategic growth.
What You’ll Learn in This Episode:
- Why focusing on slow, sustainable growth outshines the allure of quick wins.
- How to navigate entrepreneurship while balancing risks and responsibilities.
- Insights into scaling a restaurant business during and after the COVID-19 crisis.
- The importance of people skills in building a lasting business legacy.
- Why setting clear, authentic goals is the foundation of success.
Who Should Watch:
This episode is a must-watch for aspiring and seasoned entrepreneurs, financial planners, and anyone curious about balancing passion and business while creating a lasting impact.
Subscribe for More:
Don’t miss inspiring stories and actionable strategies from top entrepreneurs, creators, and business leaders. Subscribe to the Beyond the Wealth Podcast today!
--------------------------------------------
Connect with David Steele:
LinkedIn: https://www.linkedin.com/in/david-steele-76088a/
Website: onewealth.net
Connect with Andres:
Twitter: https://x.com/_Andres_Sanch_
Instagram: https://www.instagram.com/beyondthewealthpod/
--------------------------------------------
00:00 Began in finance, succeeded in restaurant industry.
04:21 Power law encourages quick-scaling business models.
08:39 Financial pressures may lead to risky decisions.
10:46 Dependents hinder entrepreneurial success, personality matters.
15:44 Build a side project alongside a tech job.
17:33 Sustainable business built by nurturing, managing talent.
21:35 Restaurant failures high due to romanticization, inexperience.
24:41 Goal setting is crucial for achieving success.
27:22 Consult seasoned advisers, develop a business plan.
32:11 Culinary excellence, fair prices, cool atmosphere succeeded.
35:38 Entrepreneurship demands flexibility and resilience through challenges.
38:31 Stay grounded despite endless opportunities and ideas.
42:47 Service to others brings true happiness, success.
46:16 Sharing wisdom through podcasting, preferring speaking over writing.
