In this episode, Adam sits down with his first cousin Pete Smith, a co-owner of Gaf West, a neighborhood Irish pub a few blocks off Times Square, and The Waylon, a honky-tonk and Tex-Mex spot on Tenth Avenue in Hell's Kitchen. Pete grew up upstate, transferred to Fordham to study journalism, and got thrown out of the dorms over a copied master key. The apartment he found happened to be next to a pub. He became a regular, then a bartender, and within about a year the absentee owner in Kansas asked him to run the place. He was 23. He called friends from home to help, and the only one who said yes, Pat Heenan, is still his partner today. The conversation covers how two kids with no business training turned a bar into an education on someone else's dime. Pete explains why his dad made him save $35,000 in a shoebox before he'd accept the bartending life, how that money went into a Greenpoint apartment in 2008, and how it took years of persistence to buy the Gaf in 2012. He gets into the buildout of The Waylon, lying awake realizing an unopened bar was costing him $400 a day, and why skipping any market research on a country bar in Manhattan meant building a following from scratch. He also shares why a chapter on POS systems in Danny Meyer's Setting the Table led to a change that added more than $100,000 in sales the next year, why he figures two out of ten theme parties hitting is a win, and why simple pubs with no kitchen have been holding up while restaurants struggle. Pete also gets candid about renting out his apartment on Airbnb and sleeping at the bar or the Greenpoint YMCA to pay off a new bar faster, and the grief he took for it. He talks about scaling by making longtime bartenders partners, buying a roughly 80-year-old bar in Queens and changing its name, and playing by an outer scorecard for years, looking successful on paper while feeling miserable. Now in his 40s, he shares his three lessons: never be all flash and no cash, set a high standard for your bare minimum, and don't punch down on your way up. Whether you're dreaming of opening a bar when you retire, a first-time owner learning what a buildout really costs, or someone wondering if you can build a good life without following everyone else's script, this episode is full of honest lessons on money, partnership, and knowing when enough is enough. Find Pete at Gaf West, 401 W 48th St, New York: https://www.gafwest.com Instagram (Gaf West): https://www.instagram.com/gafwestnyc/ Find The Waylon at 736 10th Ave, New York: https://www.thewaylon.com Instagram (The Waylon): https://www.instagram.com/thewaylonnyc/ Facebook (The Waylon): https://www.facebook.com/profile.php?id=100009820656246 Want to appear on the show? Find more about the podcast at: https://howsbusinesspodcast.com