In Texas, from time to time, a bumper sticker appears that says, “Lord, grant me one more oil boom and I promise not to screw it up.”
Welcome to our oil boom.
Last week I dined with a group of experienced restaurateurs who I noticed walking around our private dining room in a daze.
It was as if they had woken up from a nightmare and wondered how things had turned out to be not just OK but pretty well for their businesses.
Not to say that the past year of human pain, death, frustration, and stress has been something anyone would want to be part of.
But, looking forward, I’m optimistic we’re seeing the beginning of a great time to be in the restaurant business.
You Have Reached the Turning Point
The pandemic hasn’t ended, but it feels like we’re at the end of the restaurant crisis portion, at least for now.
Many restaurants now have more guests than they can serve with their still-limited staff.
They have sales in excess of levels experienced 24 months ago.
And big, fat Restaurant Revitalization Fund checks ought to be on the way in the future.
As guests come back and the economy strengthens, capture the opportunity of a lifetime with what you have learned over the past year.
Change your approach and how your brands interact with guests, employees, your community, and competition in order to dominate your segment in the future.
- Have a to-go and delivery business that will continue forever.
- Have formed permanent crisis bonds with guests and employees.
- Have less competition.
- See an economy that looks like it will continue to expand.
It’s Not Too Late to Prepare Yourself
If you don’t feel prepared for the coming upswing, stop right now and:
- Type a note on your phone about what you have learned over the past year.
- Share the note with your senior management team.
- Ask them to add to that learning.
- Determine what you must implement to be one of the big winners going forward.
Allow yourself to be excited over the realization that a great dessert can be served even after the worst meal.
A year ago I predicted that what would come after the crisis would be very good for our industry.
You’ve gotten off a rough ride.
My wish for you? More than your fair share of success.
Over to you… What will you do to make sure you take advantage of a once-in-a-lifetime opportunity?