Entrepreneurialism and making a difference…
Producer’s note: We sat in on this interview and thought it so intriguing and useful that it should be shared with the audience of “Fashion Is Your Business” as well.
Eli Ostreicher, serial entrepreneur, motivational speaker and Founder/CEO to eleven travel and luxury companies (2x INC 500 #1 in Travel) including Regal Wings, Regal Jets, Regal Card, Regal Solutions, GeeFi, One Bag Tag, GTTFP, Regal Engraving (bio) joined “Travel is Your Business” hosts Pavan Bahl, John Matson and Marc Raco for Part 1 of a raw and candid interview — along with some sushi – about travel, entrepreneurialism, being successful “in spite of”, and “saying no to political correctness” at the MouthMedia Network studios.
A rags to riches journey to success at 33, One Bag Tag and Regal Engraving, and an uncle rescued
Ostreicher brings sushi, reveals why he went into the travel industry, his rags to riches journey that came from a lot of pain, being successful in against all odds, how focusing in one industry led to success and being narrow and deep, why Monday is the best day, and heading in direction of luxury instead of travel. The revolutionary idea of the One Bag Tag to eliminate all paper luggage tags. LVMH as a client, Regal Engraving as the newest company and the plan for 55 luxury engraving kiosks with master engravers in malls worldwide, largely by referral by other retailers, two years of talks with Visa, targeting the 1%, the Regal Collection of companies, Regal Wings (first company) and Regal Jets, and the rescue of his uncle Jacob Ostreicher.
Eccentricity vs. capability, Vaynerchuk vs. Ostreicher, and the unique nature of entrepreneurs
How Ostreicher appears eccentric, but people end up respecting him for his business savvy and the relationships become meaningful. Ostreicher vs. Gary Vaynerchuk, a possible reality show in development, Donald Trump, Steve Jobs, Nelson Mandela, Ostreicher is good at accents, videos putting out #GTTFP, the unique nature of true entrepreneurs, an interest in becoming more of a speaker with the goal of giving back and sharing knowledge, and a challenge for a speech.
Systemization, building the right way, and the role of a CEO
Building a company, walking away and having someone else operate it, how to identify the moments and opportunities, identify them, build, and know when to walk away to the next project, how day to day the companies still requires his focus and attention, and why systemization is critical. Hiring the right people, how Ostreicher can have 11 companies he cradles until the right moment but never really lets go, being like a firefighter to put out fires, cleaning things up. The collection of events in his life that shaped him, balancing market opportunities vs. a crossover in various companies. And the value of data and analytics to fine tune the marketing and messaging and efficiency of a company.