“Decision first; strategy later!”declared Sandeep Sekhri. This summary of his business method drew laughs from the audience as he added: “The majority of you probably don’t agree with that.”

Sekhri, founder of Dining Concepts, was speaking at a Network & Learn event co-organized by the Chamber’s Young Executives Club and the AIESEC Alumni Association of Hong Kong, in one of the company’s restaurants, Lilya Moroccan Lounge and Bar.

His unconventional approach paid off, and Dining Concepts now has almost 30 restaurants, as well as interests in other areas such as hotel supplies.

Sekhri moved from Delhi to Hong Kong at the age of 24, and 12 years later had worked his way up to a senior position in a restaurant group. But when that came to an end, he found that jobs at his level were simply not available. He had no choice, he said, but to go it alone, and launched his first restaurant, Bombay Dreams, in 2002. Then, only a few months later, SARS hit.

“We lost 80% of our business overnight,” he said. “Talk about timing.”

But Sekhri noticed that Soho, which had more “mom-and-pop”restaurants at that time, was not affected nearly so badly. It was also a place where long-tenure leases were available at low rents. Despite widespread advice against the plan, he decided that this was the right time and place to start to build a dining empire.

“I’ve already lost everything,” he told himself. “I’m just going to go ahead.”

He opened seven restaurants in Soho over the next two years, and then moved to Harbour City with the launch of BLT Steak. 

“Being a vegetarian, I figured the way to make money is with steakhouses,” he joked.

This opening was a game-changer, he explained, which also saw him move to working with celebrity chefs. Although Sekhri might not be able to appreciate steakhouse cuisine himself, the move was certainly successful, and steak restaurants continue to feature in the Dining Concepts stable. 

But the Midas touch deserted him for a time. In 2012, as he opened Luna in Central with a famous chef, he was confident that it would be yet another success.

“I thought I couldn't do anything wrong,” Sekhri admitted. “But the next five restaurants failed, which was a humbling experience.”

He told the audience that as an entrepreneur, your success sometimes depends on your appetite for risk. He said that for him, decision-making was often about gut instinct, rather than business plans. 

But the risks he takes are calculated, and Sekhri always looks at the numbers carefully before launching a new enterprise – ensuring, for example, that rental costs would not exceed a certain amount. He also had some luck in the early days with landlords and other contacts being willing to forgo deposits, which gave him the chance to build up the business.

He added that there is no quick path to success in the restaurant world. “It is a 24/7 business. You have to be very hands-on; you have to be very focused.”

Sekhri is keen to share the credit with his co-workers, some of whom have been with him for more than 20 years. “That is the key to being consistent and sustainable,” he said.

He also points to the benefits of operating in an environment where businesses can flourish.

“Hong Kong is probably the most entrepreneur-friendly city in the world,” he said. “It is a level playing field. If you stick by the rules and work hard, you will make it. If I can do it, you can do it.”