Why one lawyer gave up a 6-figure salary to serve tacos from a truck

The Peached Tortilla

Eric Silverstein, the founder and chef behind The Peached Tortilla.

"Sometimes, when food trucks go brick-and-mortar, they'll drive the food truck into the restaurant," says Eric Silverstein, referring to those who try to replicate the same menu and persona.

But it's a different game, and Silverstein knows the struggle firsthand.

As the founder of The Peached Tortilla in Austin, Texas, he's hustled to execute his vision of marrying cuisines to create items that some might deem strange - like bánh mì tacos, Nutella spring rolls, and bacon-jam fries.

Born in Japan and raised in Georgia, Silverstein gave up his stable law career to cook Asian- and Southern-inspired food. Today, he runs several food trucks, a catering business, and, as of November, a brick-and-mortar space with full bar service.

Much of The Peached Tortilla's success has been tied to social media. "You can spend all the money you want on print advertising, but it's not as effective as social media," says Silverstein, who has seen The Peached Tortilla's Instagram swell to nearly 20,000 followers and who writes a blog about his experience in the food industry.

We spoke with Silverstein as part of our Fast Track Q&A series, in which we're asking small-business owners the same questions about their professional and personal inspirations. Silverstein shared the importance of growing smart, his favorite business personality, and the hardest part of running a food truck. Read more in the series here »

BI Studios: When you were a kid, what did you want to be when you grew up?

Eric Silverstein: I wanted to be a sports agent ever since I was in high school and saw "Jerry Maguire." I took a lot of steps to try to do it. I interned in college and at a huge sports-management company in Chicago. I worked for the former manager of Riddick Bowe and former boxing promoter of Mike Tyson in Las Vegas.

The whole reason I went to law school was to be a sports agent. After law school, I went to work at a firm that represented athletes. I thought I was going to go that route, but it kind of fizzled.

The Peached Tortilla

The Taco Trio: bánh mì, BBQ brisket, and crunchy fish tacos.

How did you get the idea for your business?

I originally wanted to open a restaurant but had trouble funding it. My sister in LA told me about this Korean taco truck, Kogi. I was so intrigued. I got on Twitter to start following all of these LA food trucks and watched videos on YouTube. From there I was like, how can I do this somewhere else?

I didn't want to do this in LA, because it was really competitive. Austin is pretty competitive, too, but it was more of a food-trailer scene than a food-truck scene. There was only one food truck that moved around at the time. The other ones came later. Timing-wise, we got it right.

How did you pick the name of your business?

I grew up in Georgia, the Peach State. I wanted to pay homage to Georgia, but I also wanted a name that didn't necessarily make sense and was kind of funky. "Peached" doesn't mean a whole lot to the average person, so we can define what it means.

What is the biggest risk you've taken in your career?

Quitting a six-figure, stable law job to do something that really doesn't pay off the bat. Owning a food truck is really challenging. It's the hours and the dollar value associated with those hours. I would work 24 hours straight to make $1,000 in a day.

My frame of reference was tilted. I had been making $100,000 at the age of 24, and now I was working five times harder and making no money. I was ready to give it all up about six months in. The physical toll of it all had taken a lot out of me. I would go do a lunch service and then a late night service, open at 7 p.m., stay open until 2:30 a.m., clean the truck, drive 30 minutes back home, et cetera. That wiped away the glamour of a food truck really quickly.

What's the strangest request you've ever gotten from a customer?

When I was single, a lot of moms would try to set me up with their daughters. After I got married, a group of older Jewish women were in the restaurant and asked if I was single, because they all had daughters for me.

What is your greatest talent?

My work ethic and my willingness to work hard and sacrifice. I don't think you can be successful in food trucks or the restaurant business unless you're willing to dedicate yourself to the craft and make sacrifices. That involves your personal life. You need to give up some of the things that you love to run a business.

What was your first job?

I was 16 and washing dishes at Einstein bagels during the summer between my junior and senior year of high school. I had to wake up at 5 in the morning and they paid me $6 an hour - it was minimum wage in Georgia at the time. I learned that I never wanted to do that again.

What's the weirdest job you ever had?

I worked for Rock Newman, a boxing promoter in Vegas. My parents moved to Vegas and I lived across the street from him. He managed Riddick Bowe, promoted Mike Tyson, and was a frequent contributor on "The Best Damn Sports Show Period." I was an intern for him and would do whatever he wanted: take his clothes in to get dry-cleaned, take his car in to get fixed, research NBA players, and basically just hang out with him for three months. It was a great experience, because I got to see someone who was a bulldog and a vicious businessman. I was only 21.

Which entrepreneur or business personality do you most admire?

I like Marcus Lemonis from CBNC's "The Profit." I try to diagnose my own business after watching the other businesses on the show. He always talks about the people, the product, and the process. He's fun to watch, and I admire his thinking.

If you had a superpower, what would it be?

I would love to go into people's minds and see what makes them tick. That's the toughest thing: figuring out how to motivate people. If you can figure that out, you'll have a much more flourishing business. At the end of the day, it's all about people. If you can find out what makes them happy, what makes them tick, and what makes them push that extra 20%, you'll be golden.

What advice would you give to entrepreneurs?

Exercise patience. There will be a lot of points where you're going to question yourself and the business. There will be downturns. It's like the stock market - if you look at everything within a three-month span, you might see it go way up or way down. But if you look at it over the course of three or four years, you might see a trend that is moving upward. You cannot get caught up in the day-to-day ups and downs, although that is easier said than done. Try to look at the big picture and understand that you're in this for 10, 15, 20 years.

What's the biggest thing you've learned about managing your finances?

Every business wants to grow, but I want to grow smart, when we're ready. People can grow too aggressively. Anyone who wants to be successful in business has to have a good understanding of financials. For me, I want to be on steady ground before I grow. Before I do that, I have to know how profitable we are, what our assets are, and if we have the right people in place. One of the most important meetings I have every month is with my bookkeeper, where we go over the numbers and anything that looks out of line.

Visit www.SparkBusinessIQ.com for more inspiring stories, tools, tips, and resources to ignite positive change for your business.

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