If you want to be successful, you need one crucial trait, according to self-made billionaire Tilman Fertitta: humility.
In this week's episode of CNBC's "Billion Dollar Buyer," Fertitta, who Forbes estimates is worth $3.7 billion and who is CEO of restaurant and hospitality corporation Landry's, meets with the founder of Social Sparkling Wine, a company that sells carbonated wine.
Social markets the product as being the "cleanest alcohol available" because it's organic, gluten-free and only 88 calories a can.
CEO Leah Caplanis, who beat thyroid cancer at age 26, founded the company in 2013 and was inspired to create the drink after she missed socializing with others in her 20s because of her health.
"After going through what I went through with my cancer journey," she says, "I really feel this is my missions to bring a cleaner option so that women can live healthy lifestyles."
But a major issue emerges during the episode: When Fertitta requests a large order of the product for one of his restaurants, Golden Nugget, the delivery, bungled by the distributor, arrives late. And, to the billionaire's alarm, at first the CEO fails to take responsibility.
Angrily, James Kramer, VP of beverage operations for Landry's, calls Social to find out why the order hadn't arrived as expected. "We cannot be in this situation," he tells Caplanis. "This is one restaurant and it's already causing me all kinds of grief."
Although Social otherwise aces Fertitta's challenges — customers find the flavor refreshing and seem interested in purchasing more in the future — Fertitta and Kramer confront Caplanis about what happened with the distributor. "You had a hard time getting the product. We're both disappointed in the distribution. When we order a product, we both expect it to be delivered," Fertitta says.
"If I'm going to program it in my restaurants, I've got to know I can get it," he adds.
At first, Caplanis attempts to deflect blame. "We think the biggest issue is that we're with a small distributor in Illinois," she says. "I think a larger distributor would've responded to your needs better."
The billionaire isn't impressed. "So it was their fault?" asks Fertitta. "What I'm struggling with is it's always the distributor's fault, but you manage your distributor."
"You have to manage your distributor," Kramer says.
"You guys feel like you can wash your hands from it," adds Fertitta. "That y'all don't have anything to do with it."
That prompts Caplanis' change of heart. "You're completely right. The buck stops with me always," she says. "I'm always responsible for whatever happens with my company."
"You've finally said the most important thing you could say and that was, 'We're going to take responsibility,'" Fertitta says, before discussing a deal with Social. "You need to find a little humility if you want to be successful in business. I'm still apologizing to customers every single day."
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"Billion Dollar Buyer" airs on CNBC Wednesdays at 10pm ET/PT.