Latest news with #Lafitte
IOL News
4 days ago
- Sport
- IOL News
Gallants prove their resilience under new coach Lafitte
Marumo Gallants coach Alexandre Lafitte pleased with his sides start to the season. Photo: Backpagepix Image: Backpagepix Marumo Gallants are emerging as the team to beat after another impressive 2–1 win over Betway Premiership title favourites Orlando Pirates on Tuesday. Goals from Daniel Msendami and Jaisen Clifford fueled the Bloemfontein-based outfit's spirited comeback at a packed Dr. Petrus Molemela Stadium—after Patrick Maswanganyi had put the visitors ahead early in the first half. Siwelele sa Marumo have been impressive in the two matches they have played so far in the league, and they had to withstand a relentless onslaught from the Buccaneers which they successfully managed to resist picking up a crucial equaliser on the brink of halftime. Their surge of momentum began in the second half as they grew in confidence, while the Sea Robbers—who had started brightly—lost their rhythm and failed to create any chances in yet another disappointing showing for them. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading New coach Alexandre Lafitte has certainly hit the ground running, and having secured back-to-back wins after their opening day 2-1 win against Richards Bay, he is obviously pleased with how his side executed their game plan against the title favourites. 'It's a fantastic result. I am happy for the fans and the team,' Lafitte said after the match. 'It was a difficult game, they are a fantastic team, the game plan was good, because the objective was that when you don't have the ball, press high, and when you have the ball play a bit more. 'The first goal was good, and in the second half we had more possession and we used it well.' With the MTN8 taking centre stage this weekend, Lafitte and his charges will receive an extra weekend's rest. They will next face AmaZulu in a league encounter in just over a week. Interestingly, the Bloemfontein outfit has delivered their best football in the second halves of both their opening games, scoring decisive goals late in each contest. Lafitte credited this resilience and challenged his squad to keep evolving, stressing that they are not yet a finished product. 'It was a good performance and result for us, it's two games in a row with us scoring after 90 minutes and I think that it's good for us mentally. Moving forward it will be important to improve when we have the ball but I think we had a good start. 'I think it's important to have a structure, to break the space and find players free, and we will need to work for that for a long time. Sometimes you will make mistakes, but I would prefer if we made mistakes and learn from them and improve the quality of our game.' New centre-forward Clifford scored his first goal for the club—and, as one of only a few new recruits in a major squad overhaul, he provides a perfect example of Lafitte's vision. The coach also confirmed the club is still in the market for reinforcements before the transfer window closes. 'I am happy to be here, we have been working with the President to improve the squad, when the time is right, we will look into two or three players, a defender, midfielder and striker.'
Yahoo
04-06-2025
- Business
- Yahoo
'Food Network Star' chef explains 3 ways to finance a new restaurant
Listen and subscribe to The Big Idea on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. Russell Jackson, a chef who's appeared on shows like "Iron Chef America," "Food Network Star," and "Going Off Menu," has learned some key business lessons after financing and running three separate restaurants. On Yahoo Finance's Big Idea podcast, Jackson shared the three different ways he funded each of his restaurant ventures, including the one method he would recommend above all others. "I would probably always say try to go with an SBA loan," Jackson advised budding restaurateurs, referring to the loan through the Small Business Administration that funded his Harlem-based fine-dining restaurant, Reverence. "It's still a sizable chunk of down payment that you have to come up with, but the terms are better than any other bank can get for you." This embedded content is not available in your region. Before opening Reverence, Jackson created and eventually closed two other restaurants: Russell's in Los Angeles and Lafitte in San Francisco. Russell's was Jackson's first business venture, which he said he opened with capital largely amassed from those close to him — a move he said he would "absolutely not" recommend others take. "I had some friends and my family ... [who] kicked some money in," he explained, detailing some of the names who were integral in getting that first venture off the ground financially. "My father kicked the lion's share of money in — and that was tough. Closing that restaurant was exceedingly difficult. But again, we went through some very unprecedented things when closing that restaurant." Read more: What can I use a personal loan for? Lafitte, on the other hand, was financed through private equity. Though that removed the emotional connections that can complicate getting a restaurant off the ground, he noted it also required him to forfeit quite a bit of say in the big decisions for the restaurant. "Ultimately, ... I didn't have the highest amount of equity," he said. "I had a percentage that was a reasonable voting block, but the decision was out of my hands in the respect of, 'Do I continue on with this while we're losing money, or do we have to close?'" In those situations with private equity investors, Jackson explained, "you lose the ability to have that say and control you need." In the end, when Lafitte closed, it wasn't ultimately his decision. "The investor said, 'Eh, we're done,'" Jackson said. Jackson was able to open Reverence thanks to an SBA loan, though he admitted the process was far from easy and one he said he didn't think would ultimately be successful. "The labyrinth of red tape and hurdles ... it always seemed like a sheer impossibility," Jackson admitted. "So I applied for the SBA loan in this respect, almost as just trying to turn over a last rock, not having any expectation whatsoever that this was a possibility. So when I got the notification that I had gotten it, I realized that I had turned into a unicorn." Though Jackson ultimately made the difficult decision to close Reverence this year after facing setbacks from the COVID-19 pandemic and in the restaurant industry, he noted he's not one to give up easily when fighting for his business. "I've said this before ... you can never give up," he said. "You just have to keep fighting until you are utterly dead. I think that if I look at some of my other ventures, giving up when I did might have been construed as a mistake. I think that that's why now I'm willing to go down with the ship in a spectacularly fireball way and keep trying to figure out how to make it work to some degree or another." Every Thursday, Elizabeth Gore discusses real-life stories and smart strategies for launching a small business on The Big Idea podcast. You can find more episodes on our video hub or watch on your preferred streaming service. Sign up for the Mind Your Money newsletter Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
04-06-2025
- Business
- Yahoo
'Food Network Star' chef explains 3 ways to finance a new restaurant
Listen and subscribe to The Big Idea on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. Russell Jackson, a chef who's appeared on shows like "Iron Chef America," "Food Network Star," and "Going Off Menu," has learned some key business lessons after financing and running three separate restaurants. On Yahoo Finance's Big Idea podcast, Jackson shared the three different ways he funded each of his restaurant ventures, including the one method he would recommend above all others. "I would probably always say try to go with an SBA loan," Jackson advised budding restaurateurs, referring to the loan through the Small Business Administration that funded his Harlem-based fine-dining restaurant, Reverence. "It's still a sizable chunk of down payment that you have to come up with, but the terms are better than any other bank can get for you." Before opening Reverence, Jackson created and eventually closed two other restaurants: Russell's in Los Angeles and Lafitte in San Francisco. Russell's was Jackson's first business venture, which he said he opened with capital largely amassed from those close to him — a move he said he would "absolutely not" recommend others take. "I had some friends and my family ... [who] kicked some money in," he explained, detailing some of the names who were integral in getting that first venture off the ground financially. "My father kicked the lion's share of money in — and that was tough. Closing that restaurant was exceedingly difficult. But again, we went through some very unprecedented things when closing that restaurant." Read more: What can I use a personal loan for? Lafitte, on the other hand, was financed through private equity. Though that removed the emotional connections that can complicate getting a restaurant off the ground, he noted it also required him to forfeit quite a bit of say in the big decisions for the restaurant. "Ultimately, ... I didn't have the highest amount of equity," he said. "I had a percentage that was a reasonable voting block, but the decision was out of my hands in the respect of, 'Do I continue on with this while we're losing money, or do we have to close?'" In those situations with private equity investors, Jackson explained, "you lose the ability to have that say and control you need." In the end, when Lafitte closed, it wasn't ultimately his decision. "The investor said, 'Eh, we're done,'" Jackson said. Jackson was able to open Reverence thanks to an SBA loan, though he admitted the process was far from easy and one he said he didn't think would ultimately be successful. "The labyrinth of red tape and hurdles ... it always seemed like a sheer impossibility," Jackson admitted. "So I applied for the SBA loan in this respect, almost as just trying to turn over a last rock, not having any expectation whatsoever that this was a possibility. So when I got the notification that I had gotten it, I realized that I had turned into a unicorn." Though Jackson ultimately made the difficult decision to close Reverence this year after facing setbacks from the COVID-19 pandemic and in the restaurant industry, he noted he's not one to give up easily when fighting for his business. "I've said this before ... you can never give up," he said. "You just have to keep fighting until you are utterly dead. I think that if I look at some of my other ventures, giving up when I did might have been construed as a mistake. I think that that's why now I'm willing to go down with the ship in a spectacularly fireball way and keep trying to figure out how to make it work to some degree or another." Every Thursday, Elizabeth Gore discusses real-life stories and smart strategies for launching a small business on The Big Idea podcast. You can find more episodes on our video hub or watch on your preferred streaming service. Sign up for the Mind Your Money newsletter Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
