“Fix the business model first – then everything else falls into place.”
- Most businesses underperform due to underdeveloped leadership skills not because they do not control costs sufficiently.
- Enlightened leadership practices – Companies with high scores in both employee engagement and customer engagement financially outperform identical units with low scores in both metrics by as much as 500%.
- Customer engagement comes from employee engagement, which comes from enlightened management practices. “These are the findings of Human Sigma…ignore these findings at your peril.” –Gallup, Inc.
- Enlightened cost management recognizes that although it is vital to control “prime cost”, it is even more important how one controls it. “There are a hundred ways to deliver the prime cost target, but ninety-eight of them will kill your business.”
- Enlightened financial metrics eliminates the false conclusions inherent in many of the industry’s flawed standard formulae.
- Due diligence is paramount. The financial success of any hospitality deal can be predicted before the doors even open.
- Deconstruct the business model to discover the inflows & outflows and then redesign it for better performance.
- Restaurants are hybrid businesses. We manufacture food but we only retail beverage. The restaurant business model must reflect this reality.
- Location, location, location is critical, but not in the way most people believe—horizontal solutions do not solve vertical problems.
- Quality is Everything. No amount of marketing can make up for inferior products or service.