A lot of restaurant owners have that tired old American dream: Work your whole life, then sell your business and retire for good. When my clients figure out the high cost of selling now, many see that dream as a nightmare. You have another option. Rather than selling your company, keep it – and let … Continued
I’m fascinated by Starbucks and their journey. Mature brand, created a segment, once a hero to all, lost its way, now back on good footing. Two years ago, CEO Brian Niccol took over and announced his “back to being Starbucks” program. I wrote to you about it here. It hasn’t been quick or easy, though. … Continued
How do you relate to your multi-unit team and managers and everyone else? How much do they depend on you? If the answer is “a lot,” know that creating such dependency isn’t a formula for building a great career. Success won’t come because you do the work of everyone else in your organization. So raise … Continued
My younger clients – those successful multi-unit independent operators in their 30s, 40s, and 50s – very excitedly commit to building their net worth by developing their concepts, brands, people, and operational capabilities. But my clients in their 60s and 70s? They’ve been there, done that. Now, they want to take advantage of their success … Continued
So here we are, Labor Day. The psychic end to the summer, even our triple digit temperatures here in Texas seem to be over. The beginning of the home stretch for the year and time to focus on the chance to have a great 4th quarter over the holidays. It’s Labor Day – the holiday … Continued
Finally finding “the one” – the person your company has missed for its entire life – makes an incredible difference. This missing piece allows you to overcome the barriers between reliable and exceptional success. It’s like a business version of a romance novel, but very real. But who is “the one”? Well, that all … Continued
My daughter just started high school. The most important message her new school is communicating to parents? “Stop solving your kid’s problems.” The school is requesting that, when our children come to us with a problem about school – whether their grades, schedule, or whatever occupies teenage minds – parents support students to figure out … Continued
Pop quiz: What did you learn last week from your guest count tracker, the one that compares each day in each unit with their counterpart last year? When restaurant owners start to think about guest count first – and they see it either holding, eroding, or slowly increasing – it inspires and demands action. It … Continued
It may seem like “a riddle wrapped in a mystery inside an enigma” (thank you, Winston Churchill, for the quote), but one of the great advantages you have as an owner of a small (or even medium-sized) business remains making big moves quickly. And in times like these, big moves are what you need if … Continued
Do you think your level of re-investment is too high, too low, or just right? Independent restaurant owners who understand the critical value of re-investing know that their real margins come from smart investments that help them keep up with guest expectations as well as their own mastery of profit. These owners typically operate at … Continued