Vik Muniz
Daniel Boulud, 53
The French-born, Michelin-starred chef-restaurateur behind nine restaurants, including famed Daniel in New York, is the author of six cookbooks and is credited with introducing the gourmet burger at his DB Bistro Moderne restaurant in Manhattan. He was awarded the Chevalier de la Legion d'Honneur by the French government in 2006.
Advice to aspiring restaurateurs:
"First, you must be financially sound. Make sure your business plan is more pessimistic than optimistic. One can always deal with success—it is easier to manage than failure. You should raise enough money [to go] for the first three months without the expectation of profitability. If you are profitable in your first month, it is a good sign of longevity. But if it takes six months to profitability, it will be very hard for the rest of your life [in business].
"It is very important when you want to open a restaurant to have a name and a reputation or to create one for yourself. You have to have something special to offer people, so that they come back to you again and again.
"There are three things you can control in a restaurant: the costs of rent, food, and payroll. Once you have this equation and a little bit of a following, create a wonderful place and build a good team of people who can deal with any task."
