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Entrepreneur Profile – Ty Hauter

Ty Hauter is owner of WaveHouse, a Mission Beach-based restaurant, bar and athletic club that features a man-made wave machine that allows participants to surf. Hauter is also managing partner of Whiskey Girl, a downtown bar, and RT’s Longboard Grill, a bar in Pacific Beach, and CEO of Good Time Design LLC, a marketing, management and design company.

VITALS

Name: Ty Hauter.

Title: Principal.

Company: WaveHouse.

Company address: 4115 Haines St. Pacific Beach.

Company phone: (858) 220-5221.

Founded: 1998.

Business experience: Twenty years in the hospitality and entertainment industry at all levels.

Average hours worked weekly: 50 to 60.

Source of startup capital: Sweat equity, savings and personal loans.

2007 revenue: $15 million.

2006 revenue: $11 million.

Employees: 350.

BACKGROUND/PERSONAL

Birthplace: Pekin, Ill.

Education: Eastern Illinois University; with degrees in political science and business administration.

Age: 43.

Current residence: Pacific Beach.

Family: Daughter, Jessica.

Hobbies: Hanging with my daughter, riding horses, studying architecture and design, attending concerts, Rockstar Karaoke and auto racing.

How do you relieve stress? Workout daily, playing various sports weekly.

What books are you currently reading? “The Ultimate Secrets of Total Self-Confidence,” by Robert Anthony.

What are the biggest achievements in life aside from your business? My daughter and being able to teach others my ideals on management and leadership.

What is the biggest lesson you have ever learned? Truly listen to others, and then speak!

What’s on your iPod? Kenny Chesney, Jason Aldean, Pat Green, Kid Rock, Nickelback, Aerosmith, Joe Cocker, John Mellencamp, Sean Kingston, Nelly and U2.

Best part about working in San Diego: The sunny weather creates an energy that anything is possible on any day.

JUDGMENT CALLS

Reason for getting into business: It’s fun and every day is different, I mean who the hell wants to sit all day in an office anyway?

What need, in your industry, did you perceive was unmet? Too many venues are trying to be fabulous and fancy, while I believe everyone just wants to relax and have fun when they go out and spend their hard-earned money.

How do you plan to grow the business? Work outside the common box to find ideas, venues and entertainment concepts that allow the customer’s experience to be easygoing and interactive.

Greatest advantage of owning your own business: Can’t be fired.

Biggest disadvantage of owning your own business: You can go broke.

Business’s major strength: We have an awesome management staff and minority partnerships with our general managers, which create pride in the product and concepts we offer to the public.

Business’s major weakness: It’s an alcohol-based business, which comes with a great number of liabilities.

What is the greatest need you have in your business? Finding quality staff that understands good customer service.

Smartest business decision: Leaving the security of being part of a larger restaurant and nightclub chain in order to create my own path.

Largest risk: Signing a bank note for $1.5 million with only $50,000 to my name.

Significant business mistake: Thought I knew it all back in 1997 and opened up two locations within a block of each other. I didn’t have the management or cash flow to cover both businesses. The end result was that both businesses suffered and I almost lost everything.

Toughest career decision: That I picked my work over my marriage, which led to a divorce in 2001.

Biggest ongoing challenge: Making sure I take enough personal time. Funny thing is, though, the more personal and vacation time I take for myself, the better the end result of my projects seems to be.

The most important part of my business: Listening, being a consistent leader and always having to be aware of the marketplace while trying to stay ahead of the curve.

My business works best when: I don’t micromanage and I trust people we’ve hired to do their jobs.

Best way to stay competitive: Work your venues on an ongoing basis and stay active in the communities in which your businesses are located. I travel eight to 10 times a year to different cities looking for new ideas or fresh designs.

GOALS

Goals to be achieved: Maybe take up a few offers that I’ve had from developers in Las Vegas and see if one of our concepts will fly in a big-time arena.

I would sell my business only if: I don’t think I honestly could. It would be like the selling of a child, thus leaving a big hole in my life.

Guiding principle: We’re only as good as the people we have around us in life.

ENTREPRENEURSHIP

Any advice for new entrepreneurs? Never, never let a little thing like money stand in the way of your dreams!

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