FULL COMP: The Voice of the Restaurant Industry Revolution

Dine in is done yet again. Parts of California are facing another stay at home order. What do you do if you own a restaurant? What do you do if you own 2 or 3 or more. Tara Lazar owns 6 spanning all sectors of hospitality. While most of us are struggling to pivot one location, Tara is masterminding how to ensure all 6 survive the year. Today we get real about the struggles she’s working to overcome and the highs and lows along this path. Click to sign up for our weekly newsletter. Click here to book time on my personal calendar. Click here to download our Restaurant Recovery Guide. Want to streamline your front-of-house operations and increase sales? Head over to http://restaurants.yelp.com/fullcomppodcast to claim your free page and learn more about these powerful tools for your business. SHOW NOTES Owns 6 locations Building was about taking opportunities when they came Having multiple locations is more entertaining and stimulating The restaurant revenue offsets the cost of management labor from the catering company What has it been like as a woman in the industry Fight a lot harder to be taken seriously The network of restaurateurs is a gentlemen’s club Woman leaders tend to be of an older generation Initial reaction to Covid This could be devastating on the catering side Failed with communication during Covid Stayed really quiet which stressed out staff Started having zoom calls and updates every two weeks Being realistic with your team How many will be able to come back in the fall? Being honest about not knowing the answers Failure depends on so many things out of our control Landlord Government restrictions Consumer behavior Restaurants in charge of public safety Food sourced responsibly Following safety regulation An outbreak in your restaurant could be devastating Using contact tracing forms Greatest fear How do we keep staff safe Using PPP loan Distributed to staff who needed it Paid staff to stay home Was hoping that the team would repay this by working when the restaurant was able to reopen Unfortunately many wanted to collect unemployment instead Pivoting during Covid Does not want to do fast-casual or ordering online Less interaction with clients Branded to-go packaging to be more experiential To-go model at Cheeky’s Redefining hospitality How do you anticipate your guests when you don’t know who they are? Following comment cards and customer surveys Success in 2020 Already been successful Realigned with what is important Automating BOH operations Makes work more efficient Would like guests and staff together again Short term goals Keeping staff on the payroll Long term goals Partner with companies Acquire businesses Growing wide vs growing deep Buying out competition Expand into a different market Innovations caused by Covid Cocktails to go Cocktail food truck Farmer’s market boxes New to-go packaging Online to-go platforms Word to the industry Show your appreciation to your customers for supporting you

People won’t be hanging out in large groups for a very, very long time. It’s a tough pill for me to swallow and that’s not even my sector of the industry. Event planners are going to need to get scrappy if they’re going to find any work in the coming year. One event planner I’m not worried about is Natasha Miller. She embodies the word resilience and has taken her events company digital. Today she unveils the bleeding edge of virtual events, marrying together work and play. Click to sign up for our weekly newsletter. Click here to book time on my personal calendar. Click here to download our Restaurant Recovery Guide. Want to streamline your front-of-house operations and increase sales? Head over to http://restaurants.yelp.com/fullcomppodcast to claim your free page and learn more about these powerful tools for your business. SHOW NOTES Officially started Entire productions in 2001 Transitioned to representing acts and producing events Fake it until you make it Would say yes to everything and then figure out how to do it It took  Warren Buffet 9 years to make his first million dollars Everyone wants to get rich quick Natasha didn’t care about being rich until recently Planning for retirement Educational path Went to college on violin scholarship Didn’t graduate Self-taught entrepreneurship No mentors Attended the Goldman Sachs 10k SD Already millions of dollars in revenue at that time Learned so much Terrified by the accounting education but it was crucial Every year after the course, grew 65% each year Entrepreneurs Organization 3-year course at MIT Entrepreneurial Master’s class at Havard Access to so many incredible entrepreneurs Implementing what you have learned Learning not to implement everything at once Goals pre-Covid Grow by 25% Splitting Entertainment production and Event Production Planning their biggest event of the year March 17th 2020 Retail costs would be $500k City shutdown on March 16th 2020 Initial reaction to Covid Panic, sorrow, and nervousness Canceling WeWork lease Making difficult choices regarding the team Feeling grateful for aspects of Covid A chance to step back Reflecting on the business Repairing broken parts of the business Having the space to improve the business Pivoting during Covid Everything has worked so far Created a variety show platform for virtual events Bite-sized shows with educational or entertaining speakers Internal marketing event Still of value to clients Goal is to keep Entire Productions top of mind with client base The growth of virtual events Expanding people’s businesses One client has a 200 client in-person event every year Expanded to 2000 virtual events Less prominent post-Covid but is here to stay 53% of all restaurants will permanently close Also possible in the events space Younger businesses are quick to pivot Older businesses have mostly been giving up faster Failure depends on overheads Cash is king The events industry isn’t well represented in government

What can save this industry from absolute destruction?  I’m betting on math and practical business fundamentals. That’s why I’ve invited Roger Beaudoin to chat on this episode. Roger has been preaching these ideals for years. He’s more than a teacher, he’s an owner and operator as well. Rather than giving us advice, he walks us through the strategy he's using to turn the pandemic into a windfall. Click to sign up for our weekly newsletter. Click here to book time on my personal calendar. Click here to download our Restaurant Recovery Guide. Want to streamline your front-of-house operations and increase sales? Head over to http://restaurants.yelp.com/fullcomppodcast to claim your free page and learn more about these powerful tools for your business. SHOW NOTES Building a dream team restaurant is important Allows you to have an exit strategy Allows you to have time with your family and friends Allows you to enjoy having a business Saw an opportunity when running a ski resort Inspired by a Switzerland bar with an international buzz The ski resort he ended up at needed transforming Sophistication Community Entertainment Learned the business piece by piece Training staff to have his back Controlling costs to maximize profits Creating a premium customer experience Expanding the business to one day leave it Technology was never Roger’s strong point Never has an interest in technology Created systems on pen and paper It was Roger’s wife who convinced him to have an online platform to expand the business Started the podcast 6 years ago Roger’s wife is the CTO Why Roger went back into restaurant operations New restaurant opens pre-Covid Investment in improvement Creating a business model Grab and Go market and cafe Was ideal during Covid Pivoting during Covid Covid makes everything unstable Taking the temperature of the room before making a decision Using the loans Redefining success You don’t know what you’ve got until you start running it Covid was a good thing overall for the new restaurant because of the grab&go model Goals after Covid Opening multiple locations Lessons learned through the podcast Chief Culinary Officer of The Cheesecake Factory Philosophy on staff: lead by example and promote from within Empower your staff Not everyone will make it through Covid We can only succeed by not giving up Being excited for the future Interviewing more podcast guests Upgrading the Sales Stars video course

You’ve gotta bet big to win big In 2019, Daniel Shemtob leveraged millions to build the hospitality empire of his dreams. Food trucks to fine dining and even a catering company, he’s focused on absolute domination of the industry. Daniel built a big ship and now he needs to captain it through an economic disaster. On this episode we cover the lessons he’s learned over the last 4 months and the plan he’s created to thrive in the future. Click to sign up for our weekly newsletter. Click here to book time on my personal calendar. Click here to download our Restaurant Recovery Guide. Want to streamline your front-of-house operations and increase sales? Head over to http://restaurants.yelp.com/fullcomppodcast to claim your free page and learn more about these powerful tools for your business. SHOW NOTES Successes in 2019 Daniel considers himself an entrepreneur first and foremost Redefining goals in 2020 Changing perspectives with assets and liabilities Preux and Proper was 6000sq ft Was an asset Now a liability - too much space Honing focus can help avoid this shift Taking on too much can turn an asset into a liability Fixed costs have been the most challenging Rent Opportunities during Covid Big shifts in the market cause opportunities Previously would jump on opportunities Now considers things for longer Josh realized he struggled with focus Busy isn’t successful Busy isn’t profitable Pairing down from 15 objectives to 3 Best decisions made during the first 90days of the pandemic Getting ENDL loans He wanted as much capital as possible to have a runway Thinking like a startup Being willing to pivot Deploying funds correctly Rolling out a late-night experience Compensating for losing 40% of dine-in revenue Daniel lost a lot during the pandemic Becoming charitable Giving away shoes 100s shoes to those who needed them Giving away food 1500 meals Daniel’s mentor felt inspired by his positivity Reforming the businesses Fine-dining restaurant reopened to great success Catering will take the longest to reform Large events are where you make the most money Shoe company is doing well Sold out very quickly Is there more value in being small? Pre-Covid Daniel was doing well but not “crushing” Working extremely hard - spinning his wheels The ability to reset is a gift Brands Daniel is inspired by Sweet Green Looks at his own staff as the prize piece of his empire Being most proud of the culture he created The future of businesses are not in your control Being a great leader You are only a great leader if you know where you’re leading your team Daniel is leading team into a successful work dynamic Making money Quality of life Enjoy coming to work Have the team be more autonomous in their initiatives and taking ownership Ideas for creating a great culture What does post-Covid look like?

The pandemic did not pick favorites. No business owner was immune from the debilitating effects of the quarantine. Big restaurateurs with big restaurants and big rents need big plans to weather this storm. On this episode we chat with Celebrity Chef Adam Perry Lang who shares how he’s been affected and his strategy for rebounding. Click to sign up for our weekly newsletter. Click here to book time on my personal calendar. Click here to download our Restaurant Recovery Guide. Want to streamline your front-of-house operations and increase sales? Head over to http://restaurants.yelp.com/fullcomppodcast to claim your free page and learn more about these powerful tools for your business. SHOW NOTES Work-life balance has always been a challenge Managing work time Priority lists 50% of the work you won’t see coming What is needed through this time is leadership We can’t delegate that at this time Showing up is 90% of it Adam has been working around the clock to keep things running Josh does not want to compromise on time with family again We get to look within and prioritize what is important Adjusting how we work though it is tough to imagine Imagining a new future Customer behavior won’t be the same when we go back to work People will be skittish until we have a vaccine Restaurants are the cornerstone of socializing Will fear stop people from coming out to restaurants? Leasing issues won’t go away any time soon Dealing with concerns and fear Maintaining momentum There is so much that we are not in control of Show up as best you can Love what you do There is so much to think about when running a restaurant now Pre-opening checklist Heath and safety regulations Creating resilience There is no one failure You make a mistake, step back and adjust His mom gave him a poster saying “in every crisis, there is an opportunity” Focussing on Adam’s passion helps him get through hard times Redefining success Success in Jan 2020 Anticipating the opening of Hamilton in the theater next door Motivating the team Feeling good at the end of the day Success after the pandemic hit Trying to be grateful for opportunities How can we help people in need? Being involved in St Joseph’s center Donate a meal for every meal produced to less fortunate and home-bound elderly The Mealbridge Frontline foods Feeding frontline hospital workers Making a safe environment Spoke to staff openly and honestly Making all staff feel comfortable and safe Shifting from fine dining steak restaurant to creating comfort food at a low price The restaurant is staying afloat No aim to make profits Sales volume is 5-10% of what it was before It is about survival The future of the restaurant Shifting to BBQ Lower check average Comforting

Another dine-in closure for restaurants…California is the 5th largest economy in the world and the hospitality industry here employs literally hundreds of thousands of people. Who speaks for us? Who is looking out for our best interests? Who’s there to make sure we survive the pandemic? The California Restaurant Association has extended it’s resources to the industry nationwide and, on this episode, we chat with Jot Condie, president of the CRA, about the work they’re doing to make sure that California functions as a guidepost, showing other states how to support the industry that powers their economy. Click to sign up for our weekly newsletter. Click here to book time on my personal calendar. Click here to download our Restaurant Recovery Guide. Want to streamline your front-of-house operations and increase sales? Head over to http://restaurants.yelp.com/fullcomppodcast to claim your free page and learn more about these powerful tools for your business. SHOW NOTES How the CRA started The mission of CRA To represent and promote the restaurant industry in California How CRA works CRA represents around 25k restaurants 80% independent restaurants 20% larger chains Inclusive to all as both types of restaurant ultimately have the same goals and struggles The big wins of CRA The beginning of the Covid crisis The governor announced that restaurants would need to reduce to 50% capacity LA mayor and 12 other mayors in the state disagreed and decreed total lockdown Crisis management mode Getting information to everyone - members and non-members Adjusting website to the most relevant information Talking to government officials for more information Advocacy work during the pandemic Worked with LA health department to allow groceraunts Alcohol delivery allowance Deferral on tax payments Free up public space to allow restaurants to have sidewalk dining Allow for curbside pickup in cities It is important to make your voice heard Government has a huge impact on operations Collaborating with third-party delivery companies Doordash being very accommodating to the industry Try to work through issues Rent is the largest fixed cost for restaurants Leasing issues are far greater scope than business owner vs landlord Political and legal issues intertwined CRA is in conversation with mortgage industry and property owners Not much support in these early efforts The success of campaigns depends on the votes Resources that the CRA provides Integrated insurance solutions Legal center Law firm partners create free compliance documents Discounted legal fees Webinars United healthcare discount What are our obligations under the new guidelines? Face coverings for employees Sanitation standards Guidelines must be followed to encourage guests to return If your restaurant is seen to be breaking rules on social media, it will ruin your reputation Advocacy doesn’t work if businesses don’t also join in making their voice heard

Who doesn’t love a great mashup? To get a read on where diners currently stand, the Yelp team released a survey to thousands of users. Cornell University analyzed that data and today we review their findings with Professor and Associate Dean Alex Susskind. His specialization centers around the strategic and operational elements of the industry but Alex is more than a theorist. He came up through the ranks of the hospitality industry and that’s where our conversation begins. Click to sign up for our weekly newsletter. Click here to book time on my personal calendar. Click here to download our Restaurant Recovery Guide. Want to streamline your front-of-house operations and increase sales? Head over to http://restaurants.yelp.com/fullcomppodcast to claim your free page and learn more about these powerful tools for your business. SHOW NOTES Professor and Associate Dean of Academic Affairs at the School of Hotel Administration Been at Cornell University for 22 years Started as a dishwasher at 14 years old Managed restaurants and worked in the kitchen Covid 19 highlighted issues in our industry We have a very cashflow reliant business Removing cashflow shows inefficiencies in the model 94cents of every dollar made by restaurants on average goes back into the economy Collapse of our industry would have a huge impact on the rest of the economy Hospitality supports agriculture, wine, distribution, consumer goods, etc Largest employer nationwide Damages to the agriculture sector show the fragility of the food system Maine’s fruit distribution closed broadline operations Now is a great time to address the foundational issues of the business Mending wage structures Increasing prices Larger chains are making changes Typically prioritized shareholders Starting to fix structural issues Will make it easier for independent restaurants to do the same Raising prices may turn away customers Pivoting the restaurant structure Find a way that will create a transaction that will keep your guests on side Consumers are moving to a convenience model E.g takeout Yelp’s diner’s survey shows diners want clear communication How best to handle guest complaints Communicating with customers is changing Technology in restaurants is increasingly important Walk-ins are still necessary post-Covid Reservations culture will continue Hunger is spontaneous so restaurants will need a system to allow walk-ins Cornell University study claims that the optimal model for restaurants post-Covid is ⅓ bodega, ⅓ takeout, ⅓ dine in Good survival strategy for many businesses Margins may be slimmer but efficiency could increase Selling 6 pack of beer requires less labor than serving 6 beers Struggles for surviving businesses post-Covid Guest safety Employee safety Changing regulations Quickest restaurant closures will be those who should not have been in business in the first place Operators who lack passion Operators who treat staff badly How will Cornell help prep new hospitality leaders

Not all heroes wear capes, some write books. The books Gino Wickman has written are directly responsible for helping me to create multiple million dollar businesses, become a better leader and find balance within my personal and professional lives. Today we discuss his latest book, the Entrepreneurial Leap, and how we apply those lessons to the hospitality industry. Click to sign up for our weekly newsletter. Click here to book time on my personal calendar. Click here to download our Restaurant Recovery Guide. Want to streamline your front-of-house operations and increase sales? Head over to http://restaurants.yelp.com/fullcomppodcast to claim your free page and learn more about these powerful tools for your business. SHOW NOTES Writing Entrepreneurial Leap Did not become an entrepreneur until he was 29 Wants to show others the opportunities available to them The book is in three main parts Finding out if you are an entrepreneur Discovering opportunities Creating a path to success Hospitality workers are running a business within our businesses Success of their micro-business means greater success for your business 6 essential entrepreneurial traits Gino offers an assessment online to discover if you have these traits Allow your staff to take the quiz if you are comfortable with them taking their own entrepreneurial leap one day Can be the best employees in the hospitality industry if they stay Entrepreneurs are generally unemployable Advice for leading leaders Lessons from a book called Drive Give autonomy Provide guidelines and rules but otherwise, let your team have ownership of their work Allow mastery Give them the opportunity to learn the business Make your staff member feel part of something bigger than themselves The bigger the problem you solve in the world, the more successful you will be Get close to the ground and know your customers’ needs Know your customers better than they know themselves Evolve to the new needs of customers as the world changes 10-year business cycles 2 great years 6 good years 2 terrible years when you almost go out of business In another ten years, something else will come The power of 10-year thinking Have a 10-year goal but not in great detail Learning to take action whilst being patient 8 critical entrepreneurial mistakes Not having a vision Not spending time with your people Not knowing your customer Not staying true to the core Not knowing your numbers Not crystalizing roles and responsibilities Hiring the wrong people Grabbing the closest people to you is not a good strategy for hiring Make sure people are in alignment with your core values Make sure they have the right skill set for the job Not charging enough Psychological mistake Insecurity/lack of confidence Many businesses barely break-even in the first 3 years Advice TED Talk by Casey Brown Tip from Dan Sullivan - Pick a number that scares you, then add 20% There are many free resources on the e-leap.com website for budding entrepreneurs Who inspires Gino

From running underground event spaces to virtual happy hours, Matt Landes has lived on the bleeding edge of what’s next within our industry. Today he shares the ups, downs and lessons learned on his journey to creating, running and now saving a million dollar events company. Click to sign up for our weekly newsletter. Click here to book time on my personal calendar. Click here to download our Restaurant Recovery Guide. Want to streamline your front-of-house operations and increase sales? Head over to http://restaurants.yelp.com/fullcomppodcast to claim your free page and learn more about these powerful tools for your business. SHOW NOTES Starting Apartment A Creating a name brand Entering the world of events Was called by other brands to create concepts and parties for them Commitment to becoming the premier cocktail caterer in the world Trying to do everything in the beginning Create a cocktail magazine Pop up bars Help brands accelerate Focusing on doing one thing really well Creating a premium drink experience Businesses do better when they niche Cocktail academy has niched into events and consulting Core values of Cocktail Academy Focus enables an entrepreneur Make money Attract talent Retain loyal clients Changing plans for 2020 2019 was the best year of growth for Cocktail Academy Plans were to expand consulting Fully leveraging in-person experiences First reactions to Covid 19 South by Southwest event was canceled Hague Club event was postponed Steps to pivoting during the pandemic Successful pivots to the online space Hosting bartenders on their Instagram account Bartenders give a cocktail recipe and receive tips via Venmo from followers Cocktail nightschool hosted every Thursday Custom cocktail experience boxes for brands Digital streaming events CARE (Cocktail Academy Ready-made Experiences) Virtual experiences give retail bought alcohol more story How to manage fear Oscillating between excitement in problem-solving and total exhaustion You can be scared of your own ideas Having a great idea means you have to follow through Make it happen or die trying Questions to ask to feel more in control Will I feel better if I tried? What is urgent to do today? What tasks am I responsible for related to clients and my team? Managing work-life balance Wellness Wednesdays Wednesdays off We can only be efficient 3.5 days a week during the pandemic Mental toll of the pandemic environment Entrepreneurial disorder in the hospitality industry Responsibility to become a creative leader within the industry Oversimplifying what it takes to action new ideas Feeling exhausted after thinking of new innovations Opportunities in cocktails to go Lost Parrot concept Tiki Tuesday delivery with tiki cocktail mugs Bar in a bag At home experience Eventually opening a pop-up bar called Parrot to connect with customers who have had the at-home Lost Parrot experience

With an estimated 30-50% of all restaurants permanently closed, what does that mean for the future of the industry? What does that mean for those of us still in the game? Today we chat with Jon Strader who’s using his grit and tenacity to build his empire when land is cheap and competition is low. Click to sign up for our weekly newsletter. Click here to book time on my personal calendar. Click here to download our Restaurant Recovery Guide. Want to streamline your front-of-house operations and increase sales? Head over to http://restaurants.yelp.com/fullcomppodcast to claim your free page and learn more about these powerful tools for your business. SHOW NOTES The difficulties of working for yourself Keep up the momentum You have a lot to learn You make many mistakes Success at Hatchet hall Launching pad to take journeys to the next level Pivoting at Hatchet Hall to a Bodega style service Market boxes Sold beer, wine, and liquor inventory Merch Family style pre-order meals Bodega style is not sustainable for the fine-dining restaurant Initially, customers want to support There is a disconnect in the style of products It’s necessary to completely reconceptualize during Covid Fine dining is dead for the next 6 months Covid is unpredictable Contingency plan after contingency plan Lack of leadership from the government at both local and federal levels Potentially reopening as a casual dining experience Guest seat themselves Parking lot as a summer popup and picnic area Reduced labor Reduced inventory No full service The market doesn’t know what it wants until they see it Adaptability and coming up with concepts on the fly Everyone is in a fragile state right now Everyone will be tougher afterward Opening of Little Coyote Opportunity at lockdown to buy a property on Long Beach for a good price Bought the restaurant and turned it into a New York-style pizza place Jack Leahy as the chef Bootstrapped with family and friend investment A concept they can run themselves if need be Aims to turn a profit this year Making pizza is low-cost Labor needs are few Service fee model Difficult to get things done as everyone is in shellshock after Covid hit Entry-level experiences will do better in a post-Covid world Pizza, tacos, burgers, coffee, sandwiches - recession and covid proof Employing a service fee model Fairer distribution of tips Whole staff can have a liveable wage Lessons during quarantine Family first, restaurant second Not being a slave to the business Lessening obsessive tendencies around the business Avoiding refreshing emails Avoiding staying plugged into social media Avoiding prioritizing the business over family time Redefining what we want our lives to look like How many hours a week do we want to work? What do we want our home life to look like? How much money do we want to make this year and future years? The state of the job market after Covid