The 5 Hospitality Business Fundamentals
How Do All The Pieces Fit Together?
We do not just make our clients condition better. We build toward the Best Condition possible in order to maximize their Best Outcomes. That is our only goal in business. But to that end it’s important to be able to provide the necessary context, reasoned analysis and understanding in order achieve truly remarkable outcomes. This is why we Coach, consult, write and give speeches and presentations all over the country about the need for the best perspective.Ideas are good. With them you can do amazing things. Without them, you cannot. However, it’s not about just having ideas – anyone can do that. It’s about having the right ideas, at the right time, with the right resources available to you, achieved using the proper context, in order to be able to truly leverage those right ideas into growth and long-term success.
Now we make no bones about it, we think some ideas are better than others. Most downright stink and some really are brilliant (even though we think that word is overused just for the sake of polite conversation) and some are simply “ok”.
Does everyone have the ability to contribute? Of course. Do they do so in a more intelligent and meaningful way? Not always and in fact, I would argue that, given the growth of social media (where everyone is an expert) this is becoming an even rarer occurrence. Which is why it is imperative that you begin to think deeper and on a more complex and sophisticated level about the issues you face in your business. Nothing in our business is that simple that it doesn’t require critical thinking. Superficial thinking will give you a mediocre business or worse.
Is it possible to overthink issues? Absolutely, but that’s where experience comes in and helps provide context.
The best ideas and perspective come from those who have practical experience in successfully doing what it is you want to do. Otherwise it’s only theory or worse.
Most managers today calibrate their thinking more toward diagnosis: for help in coming to terms with the problems that keep their businesses from being more successful – right now.
Leaders, on the other hand, seem more interested in prognosis; the future trend–gazing that makes people much better strategists.
We look to balance both.
In the end, a really good business idea has five key qualities.
It is timely: It addresses, in a new, compelling way, an issue that is important to people right now. (social media, IPO’s, millennials, etc…)
It has explanatory power: It reveals the hidden patterns and interrelationships that shape the phenomena we see, and that other theories or disciplines have not fully explained.
It has pragmatic value: It can be put into practice to produce replicatable results. (Even relatively “soft” concepts like organizational learning have a nuts-and-bolts edge, helping to build human capabilities.)
It has a robust empirical foundation: It can be tested with real-world experience, and ideally with measurable data, and can survive theoretical challenge.
It has a natural constituency: A group of key people are ready to be a part of it.
The Core Of ALL That You Do
We don’t believe you hire the best bartenders or best servers. We believe you:
Hire the Best People
Train and coach them to be the Best Employees to
Build the Best Business
Using our decades of successful experience, we can help you build the Best People, who will become the best managers, position players or multi-unit executives through the best training and coaching that will achieve your Best Results.
You goals should be to:
Define and increase successful employee engagement
Attract more of the best employees
Create a culture of high performance and engagement
Decrease turnover and increase retention
Make you money through increased productivity, awareness and better decision making
Develop and execute deeper levels of hospitality, thus
Increasing loyalty, sales and profits
The Social Experience
Your product isn’t just good food or a good bed along with good service in a good environment. That may have worked 20 years ago, but if that’s all it is now, congratulations, you’ve built a mediocre business. Today’s guest expects more. Demands more. And they’ll get it or you won’t see them again.
Which is why you have to look at your business holistically and create a strategy that adds meaningfully differentiated value at every single touchpoint for every single guest – every day.
Our business is truly the only business where the Experience is the Business. And it’s this ‘Experience As Business’ approach we utilize in every facet of our work. From menu engineering to hiring & training to location selection and beyond.
Not only does our approach set you up to succeed, but it also protects it from external influences that would destroy a weaker brand which gravitates towards a focus on a transactional and commodity type approach to business.
Setting yourself up for success involves smartwork as well as hard work. We have four decades of successful experience in both, that we use to help you accomplish your business and professional goals.
Our successful experience in building wildly successful hospitality businesses has covered every facet of your business. From concept development to operations, marketing, franchising and more.
For more, see: “The Experience As Business Approach”
The Best Laid Plans Don’t Matter Much If You Don’t Execute
I’m an extremely positive thinker but here’s some reality:
You can’t execute a level of service you have never experienced yourself.
You can’t achieve a level of success you have never achieved before, without help from people who have been there, done that.
You can’t inspire if you have never been inspired.
You can’t influence unless you’ve been influenced.
Here’s a ‘no-brainer’: How you, your leadership and employees perform will be the determining factor in how well your business performs.
So understanding how the pieces work (individually and collectively) then fine-tuning each piece accordingly, is critical to building a Best Business.
Simple right? Just not easy. If it was, 26% of you would NOT be going out of business within your first year of operation and 72% of you would NOT be going out of business within 3 years of opening.
So how do you create, build and then sustain a Best Business?
Give them a world-class Coaching experience.
Attracting & hiring best talent just means you’re off to a great start. You now need to provide them with best training, Coaching, leadership, systems, processes and other tools in order for them to achieve a higher level of performance and engagement. That’s where an investment in those areas can help you create a significant point of differentiation for your business. Our Coaching programs can help you create and Coach that difference to give your managers, staff or executives the tools necessary to grow your business.
Our programs can help you create and manage expectations and outcomes using our successful experience in over 30 years of training and coaching hourly employees, managers and multi-unit leaders.
We hold individual or group training and coaching sessions for all areas of your business, at your location or ours. Need more extensive help? We can do that too.
The Lifeblood Of Your Business
Despite what most internet Guru’s might say about needing to use loss-leaders or wait 3 years to achieve profitability, the days when you could leisurely wait for your business to mature into profitability are long gone. Today, successful operators are profitable from day one.
This is by design. And it takes discipline and expertise and intense vision and focus to create that kind of value.
EVERYTHING YOU DO IS MARKETING
We have spent decades successfully honing our abilities and experience to understand how to turn good businesses into great businesses. We can help you create and manage every line item on your P&L, from top-line sales to bottom line profits. We also can develop your ability to market your business more effectively to build long-term success.
Our intense, professional programs can make a tremendous impact on your business.
Marketing & Branding – Build sales and profits through a focus on creating steady long-term success. Create a more profitable and effective brand presence in the eyes, minds and hearts (and wallets) of your community.
Sales Solutions – Create the best tactics to use in rounding out your businesses sales potential.
People – Attract, hire, grow and retain world-class talent.
Growth – Build your vision into a long-term success from the beginning.
How We Make You Better
All of our programs are built to make you a success. Which means we build them according to your specific and unique needs. This doesn’t mean we “customize” them to fit your business (which means nothing more than taking a templated program and tweaking it to fit your situation). We personalize them 100% from the beginning to ensure that we leverage every unique aspect of your business in order to innovate your ability to create success. This is a very critical difference.