48 min listen
544: Harlan Scott on Why You Shouldn't Build an Empire without Equity
544: Harlan Scott on Why You Shouldn't Build an Empire without Equity
ratings:
Length:
80 minutes
Released:
Oct 18, 2018
Format:
Podcast episode
Description
Harlan has been in the hospitality community for almost 20 years and played a leading role in 8 restaurant openings and several re-conceptings. Scott has guided the growth of restaurants that not only survived but thrived into several unique locations by creating systems and finding the right people. Today, Scott is the proprietor of Industry located in, San Marcos, TX. In addition, Scott is the founder of Harlan Scott Hospitality where he helps people make their dreams profitable and scalable, simultaneously improving quality of life for the owner and the employee. Show notes… Favorite success quote or mantra: "Be authentic and consistent. Also, surround yourself with people who make you better." In this episode with Harlan Scott, we discuss: How Harlan got his start in hospitality and ultimately fell in love with it. Attention to detail, and discipline to create and stick with systems being what separates the good restaurateurs from the great restaurateurs. When you see someone with ability and potential, let them know they got what it takes and provide them with opportunity. Using your pay check to invest in assets so you're not entirely dependent on your job. Not over-spending when opening a restaurant. Also do your due diligence to research and become a part of the community. Why you need to be your own cheerleader. If you're doing awesome stuff you need to tell people. Otherwise you'll be undervalued. How to be your own cheerleader without sounding egotistical. Creating culture with your presence. The way you work will set the pace and standard for everyone else. Don't build a business unless you have equity in it. How it is not ethical to dangle the equity carrot in front of talented, driven staff so you can get away with overworking and underpaying your team. The benefits of creating a restaurant concept that caters specifically to restaurant industry professionals. Knowing that as an employer your scope of responsibility goes beyond paying your employees a fair wage; it is your responsibility to mold the next generations of owners. better edict for counter service. Resources mentioned: 477: The benefits of open-book management with Mason Ayer The Great Game of Business: The Only Sensible Way to Run a Company The Four Agreements Today's sponsor: EthicsSuite.com -provide a safe, secure, simple and anonymous communication channel between you and your employees to help you protect your hard-earned reputation and assets. Demonstrate to your team that you are committed to providing a workplace that operates with the highest ethical standards. Staying informed about important issues will help you resolve them internally before they spiral into larger, costly, or public problems. Cashflowtool.com A simple powerful and predictive cash flow companion for Qickbooks. Simple, because it requires no data entry, is always up to do and works on any device, anywhere. Powerful, because with it's built-in cash flow calendar, activitiy feed and anomaly detector, you instantly know all aspects of your cash flow with no surprises. Predictive, because you'll know your cash flow today and anticipate it tomorrow. Knowledge bombs Which "it factor" habit, trait, or characteristic you believe most contributes to your success? Authenticity What is your biggest weakness? Insecurity of how others perceive him What's one question you ask or thing you look for during an interview? Look for people who have ambition and dreams that go beyond collecting a paycheck from you. What's a current challenge? How are you dealing with it? Staying Relevant. Connect with each individual guest so relationship is what brings them back. Share one code of conduct or behavior you teach your team. Be transparent and authentic. What is one uncommon standard of service you teach your staff? Be real. What's one book we must read to become a better person or restaurant owner? GET THIS BOOK FOR FREE AT AUDIBLE.COM Rocket Fuel: The One Essent
Released:
Oct 18, 2018
Format:
Podcast episode
Titles in the series (100)
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