I recently went one on one with Vincenzo Guzzo, the outspoken Dragon on Dragons’ Den, Canada’s version of Shark Tank. Vince is a serial entrepreneur and the President and CEO of Cinémas Guzzo.

Adam: Thanks again for taking the time to share your advice. First things first, though, I am sure readers would love to learn more about you. How did you get here? What experiences, failures, setbacks or challenges have been most instrumental to your growth?

Vince: My father is an entrepreneur, and I grew up working in his movie theatre. Since I was a child, I knew that I had passion for the world of business, but also an insatiable love of the film industry. Business instincts and film are simply part of my DNA. Setbacks are inevitable in business, and an obvious one has been the closure of our movie theatres during the pandemic. This has been a struggle for all local business owners, but thankfully we’ve learned to adapt and create new opportunities. Another example that comes to mind is our legal battles with movie industry giants who limited their distribution to big-name cinemas, thus severely handicapping smaller, independent movie theatres like ours. Although this is still an ongoing issue, we’ve made progress on this front, and set a precedent for all independent businesses. I’m very proud of the agility of my businesses and our solutions-oriented mindset.  

Adam: How did you come up with your business ideas? What advice do you have for others on how to come up with great ideas?

Vince: For me, it’s entirely about instinct. I see a need that has not been filled and I instinctively know which product or service will fill it. My advice to entrepreneurs is to be authentic in anything you pursue. Fully commit to a new idea, however, the new venture needs to speak to you. If you do not fully commit or the venture does not fully make sense to you, you will not have the necessary passion to ensure it succeeds.

Adam: How did you know your business ideas were worth pursuing? What advice do you have on how to best test a business idea?

Vince: You must weigh the pros and cons. This is necessary when you’re committing to a new business plan. That said, I have always been able to sense, right away if something speaks to me. And if it speaks to me, it’s likely to speak to others. 

Adam: What are the key steps you have taken to grow your business? What advice do you have for others on how to take their businesses to the next level?

Vince: The problem is people think it’s about perfection. It’s not. In business, things must keep moving forward and sometimes that means taking a few steps back. You will never succeed if you’re too afraid to make a mistake. Instead, be raw, be authentic, and believe in your product. 

Adam: In your experience, what are the defining qualities of an effective leader? How can leaders and aspiring leaders take their leadership skills to the next level?

Vince: Lead by example. If you are motivated, hard-working, and open to new ideas, so will the people who work with you. Create an environment where ambition and creativity are rewarded, and mediocrity is not tolerated. Remember that your decisions not only impact others’ career, but also their entire lives. I do not believe in micromanaging. My objective is to guide and inspire people to be the best they can be. This enables me to focus on the big picture rather than get stuck in the small details.

Adam: What is your best advice on building, leading and managing teams?

Vince: Push people to be the best they can be. A lot of the time, people are not aware of their full potential. Often, I can see it, but they don’t. If you believe in your employees, which infers hiring people you believe are up to the task, and you give them the opportunity to strive for more, everybody wins. If your team is motivated and see how important their contributions are, you will be more profitable and everyone will be more fulfilled, which, in turn, creates loyalty. This mindset is one of the reasons that we’ve had very little turnover. People stay because they feel valued and have stimulating career opportunities.

Adam: What are your three best tips applicable to entrepreneurs, executives, and civic leaders?

Vince: Just make it work. The pandemic is the perfect example of how you can be caught completely off guard and must decide to either take the easy way out or, on see the environment as an opportunity for new endeavors, better policies, etc. The job of a leader is to adapt, regroup, and move forward. When our theatres closed and people were forced on staying home, we shifted our focus on frozen meal deliveries, food retail, and developing our new streaming platform. I have never been this busy! All of these new services will be profitable beyond the pandemic and are  all the more relevant and necessary now.

Adam: What is the single best piece of advice you have ever received?

Vince: I was once told, and now I always say that attaining success is based on your commitment, but also willingness to accept that it comes at a price. I think that is the best advice I can give to anyone who believes they want to be a successful entrepreneur. Expect to lose friends; sometimes money; and most of your free time. Ask yourself if your entrepreneurial dreams are worth the sacrifices.


Adam Mendler is the CEO of The Veloz Group, where he co-founded and oversees ventures across a wide variety of industries. Adam is also the creator and host of the business and leadership podcast Thirty Minute Mentors, where he goes one on one with America's most successful people - Fortune 500 CEOs, founders of household name companies, Hall of Fame and Olympic gold medal winning athletes, political and military leaders - for intimate half-hour conversations each week. Adam has written extensively on leadership, management, entrepreneurship, marketing and sales, having authored over 70 articles published in major media outlets including Forbes, Inc. and HuffPost, and has conducted more than 500 one on one interviews with America’s top leaders through his collective media projects. A top leadership speaker, Adam draws upon his insights building and leading businesses and interviewing hundreds of America's top leaders as a top keynote speaker to businesses, universities and non-profit organizations.

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