Ep406: Scaling Success Across Industries with Finance Expert, Restaurateur, and Creative Entrepreneur David Steele
August 12, 2024
David Steele’s journey began in a financially constrained household, where he was raised by a single mother. Determined to escape poverty, Steele worked his way up from washing dishes to managing restaurants by the age of 24. Despite his passion for the culinary world, he recognized the need for financial stability and pursued a career in finance.
After college, Steele moved to New York City and began his career as a stockbroker. For 15 years, he focused solely on mastering finance, building a successful practice in wealth management. This disciplined approach provided the foundation that later allowed him to explore other passions.
Embracing Multiple Passions Through Non-Binary Thinking
Steele’s success lies in his rejection of binary thinking—the belief that life’s choices are limited to one path or another. He believes in mastering one area before moving on to the next, which allowed him to confidently expand into various fields, including the restaurant industry.
Steele argues that creativity is not confined to traditional arts. For him, entrepreneurship and business are forms of creative expression. He views each of his businesses as collaborative art installations, bringing together people to create something sustainable and impactful.
Building and Scaling a Culinary Empire
Steele’s first restaurant venture, Flour and Water in San Francisco, was a significant risk, opened during the 2008 financial crisis. He sold his apartment to raise capital, and the restaurant’s success laid the groundwork for future endeavors. Today, Steele has plans to expand his restaurant empire to 85 locations over the next decade.
The key to his success has been his people-centric approach. Steele believes in promoting from within, nurturing talent, and building a loyal executive team that has been together for over 14 years. This commitment to his team has been instrumental in the success of his restaurants.
Redefining Philanthropy and Empowerment
Steele’s approach to philanthropy goes beyond traditional charitable giving. While he is critical of inefficiencies in the nonprofit sector, he believes that empowering people within his organizations is a powerful way to give back. By fostering growth and confidence in his teams, Steele creates a ripple effect that extends far beyond his businesses.
His non-binary thinking and commitment to nurturing talent are central to his philosophy. Steele’s leadership is about more than building successful businesses; it’s about building people and enabling them to achieve their full potential.
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Looking Ahead: A Life of Fulfillment and Creativity
As Steele continues to expand his restaurant empire and lead his financial planning firm, he remains committed to living a life rich in diverse experiences and creativity. His journey is a reminder that success doesn’t require choosing between passion and practicality, and that life’s choices are rarely binary.
For David Steele, the path less traveled has led to a fulfilling and unconventional life—one defined by creativity, empowerment, and the pursuit of multiple passions.