What Do Your Customers Value Most? - Issy Sharp

Issy Sharp
Company: Four Seasons
Net Worth: $460 million

He was just 29 years old when he launched what has become the internationally successful Four Seasons luxury hotel chain. Today, Isadore “Issy” Sharp is recognized as one of Canada’s most successful businessmen, having been inducted into the Canadian Business Hall of Fame and made an Officer of the Order of Canada. Consistently ranked among the best hotels in the world, the Four Seasons earns annual revenues in excess of $200 million. That is no small achievement for a man who knew little stability as a boy, moving 15 times in his first 16 years.

After borrowing $300,000 from his two friends, Sharp still needed over $700,000 in capital to begin building his dream hotel. Once again, he turned to a family connection. Cecil Forsyth was a friend of Sharp’s father; he also happened to be the manager of the mortgage department at Great West Life Insurance Company. Forsyth initially refused Sharp’s mortgage application, doubtful of the young builder’s business know-how, but Sharp was persistent. Eventually, Forsyth gave in and provided Sharp with the rest of the money he would need for his project.

Advice For Entrepreneurs:

“The essential question for us in the early days was: ‘What did guests value most?’ Market research said luxury, not necessarily elegant surroundings and gourmet meals. The greatest luxury is time, and service can help you make the most of that. Give greater productivity, greater enjoyment – what better luxury can there be?”