Those of us with decades of industry experience have become accustomed to up markets with a few down markets layered in. But none of us is accustomed to a flat market lasting this long. A flat market taunts you – begging you (or even forcing you) to be willing to change so you can stand … Continued
Maybe you already have multiple units and you’re building more in another part of town or embarking into multi-city. Or maybe, in addition to multi-city, you’re adding a second concept. Either way, if you want to sleep better – plan, organize and import knowledge from the best restaurant companies in America – and do that work in advance, … Continued
So, let’s imagine you’re on the leadership team at Cracker Barrel (I know: Right now, even the idea is giving you a headache). You had a great plan: That did not go well. The resulting firestorm of public opinion – or manufactured outrage driven by bots, pick one – made you reinstate your classic logo … Continued
No one ever came to me and said, “I’m excited about starting a restaurant company – I’ve always wanted to be average.” Still, I see a lot of average companies out there. In stark contrast to those truly activated operators who always become better, lead the pack, and dominate their segment. Fearless or Scared? This … 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
As a teenager, I had the opportunity to work security for the Rolling Stones. It was a side hustle I had taken on for one reason. I wanted to see the band. They played for six nights; I bailed after 2. I had seen plenty. I stood in the pit at the front of the … Continued
News flash: Consumers do not feel super-excited about spending money with you right now. That’s not so much because of the current economy, but because of their concern about the future economy. One set of numbers I never thought I’d look at would be the University of Michigan Surveys of Consumers, which I understand to be … Continued
In a flat market, people can lose focus on profit erosion. We have all been taught that volume covers a multitude of sins. Today people learn that flat revenue can also disguise a multitude of sins. It becomes the excuse for everything. Can you honestly say your business runs better today than it ever has? … Continued
We’re seeing another mid-year downgrade on industry forecasts for the year. That this is happening for the second year in a row is unprecedented. We’ve never had to go enthusiastically into two straight years and then look in the mirror as an industry mid-year and say, “It’s not happening the way we expected.” The Veteran … Continued
If it’s not going great now, why would you want more of not-great? My brother once asked me, “Has anyone ever opened a restaurant in Dallas they didn’t intend to be a prototype for expansion?” Well, yes, but he made his point. For many restaurateurs, growth is inspiration. Most would view having one restaurant – … Continued