Capability is the first key factor to having a business that allows you to maximize its value, your net worth, and the quality, flexibility, and enjoyment of your life. My research shows that when you add capability to the other key factors, opportunity and strategy and surround that with an atmosphere of trust, you can … Continued
People often ask me to explain the many issues that face owners of successful multi-unit growing independent restaurant companies. If I had to distill all the conversations I have had with restaurateurs over the years down to one question, my choice would be obvious: “What is the difference between an independent restaurant company that has … Continued
Now is always the right time to put together and start acting immediately on a great plan to increase revenue, profit, and the overall value of your successful multi-unit independent restaurant company. You know what would make a huge impact in your business, because it has been sloshing around in your head forever. This is … Continued
“Butts in seats”. There are a lot of things we don’t say any more. We don’t say “waitress,” we don’t say “smoking or non-smoking,” and we certainly don’t say “cash register.” Nevertheless there are people out there who still say, “butts in seats,” as in, “All we need is more butts in seats” or, “When … Continued
People always talk about a possible restaurant bubble. It is human nature to worry about things that may impact our livelihoods. Owners of independent restaurant companies wonder, “Does the bubble exist? Is it about to burst? What happens when it does?” A couple of years ago, the question really took on a life of its … Continued
Every night, before my daughter goes to sleep, I tell her, “Always be yourself.” I know that — when she knows who she is — shiny objects will not distract her. I deliver a similar message to independent restaurant company owners. Oprah Winfrey made billions helping people “live their best life.” You can make millions … Continued
My brother from Seattle, visiting me in Dallas, once asked me, “Does anyone in Dallas ever open a restaurant that is not a prototype for expansion?” He was being a little critical, a little incredulous, and also, I think, just really wanted to eat at a restaurant where someone had poured their heart into the … Continued
There are always concepts that are growing, prospering, and building impressive results, outpacing the market. Yours ought to be one of them. For some others, something changed. Many long-time operators who had felt it was their birthright to see 4-5% annual increase every year got a surprise. The gains were not there. Was it too … Continued
When you are the best choice for the guest’s occasion, your guest counts increase. But who is your guest? And what is the occasion? Why You Shouldn’t Panic When you think about how much competition is out there, it’s easy to get overwhelmed. But don’t panic! You probably don’t have anywhere near as much competition … Continued
Recently, a partner in a startup chatted with me in the dining room of his first unit. He has aggressive goals for growth and wanted to discuss his second unit. He asked, “What are the biggest mistakes you see groups like mine make at the beginning of their development?” The first thing that came to mind was failure … Continued