Navigating this challenging market – as well as kicking off the holiday season – might make it seem like planning a holiday break is the last thing you ought to be thinking about. But that break turns out to be one of the most important things you can do to stay sharp, fresh, and focused … Continued
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