I have seen more than one organization head into a new year with a comprehensive targeted annual plan but then – once the first quarter starts – forget it completely and just start reacting to whatever’s right in front of them. It’s like one of those amnesia movies where the protagonist wakes up and fails … Continued
Michael Jordan and Tom Brady had coaches. The CEO of Ford has a coach – I’ve met him (the coach, not the CEO!). However successful you’ve been, and no matter how talented you are, coaching will bring out even more from you. So, who coaches you? And who coaches the people inside your successful multi-unit … Continued
Well, Q3 was a disappointment; we all know that. However, most of my clients did OK – because we have correctly managed the brand and value proposition and kept costs in line. But brands that entered Q3 in a weaker position struggled on flat sales or worse. Now that Q4 has started, I’m excited, not … Continued
How much better would you feel with the first of a series of 5% revenue increases? Well, it wouldn’t take all that much in a $4MM restaurant with a $30 PPA. Three or four tables at lunch and the same at dinner would do it. That’s 18 guests a day. I can’t make revenue increases any … Continued
If you want to really improve your restaurants and your restaurant company, act like you just bought it. Instead of looking at it like the founder, developer, and shepherd you have been for years (or decades), look at everything with new eyes. When I begin working with new clients, I observe, learn, and respectfully question … Continued
The most important number for your restaurants – the one you need to look at every shift, day, week, and accounting period – isn’t on your P&L. That number? Guest count. I only have a few clients who have positive comp guest counts. Those brands connected with their guests during the pandemic in a unique … Continued
If I asked you, “What kind of company do you own and operate?” how would you answer? Would you say, “A restaurant company”? Maybe if you’re a wise guy, but it doesn’t give me or you a whole lot to work with. It reminds me of when I ask my daughter what happened in school … Continued
For many of my most successful clients, it might have been several years – or even several decades – since they’ve worked in a company that wasn’t their own. That can result in a lack of perspective that holds them back. And sometimes, “It’s lonely at the top” is more than just a saying. The … Continued
In the history-spanning and never-ending competition between chain restaurants and independents, the conditions for independents today look more favorable than at any time since before the pandemic. Why? Because chains can’t create the memorable and authentic experiences the independents can. And those are the experiences customers want. Chain restaurants’ advantages – those attained through capitalization, … Continued
It turns out the roller coaster CAN go up! My clients are starting to feel like the economy and the restaurant industry are finally stable for the first time after recent years where the roller-coaster only seemed to go down. This is leading to (dare I type the word?) optimism. The challenges of recent years … Continued