People ask me all the time – What should my labor cost be..?

That is a great question…

And that is what we are going to talk about today…

It is always BEST to start any endeavor with a GOAL…

For the purposes of today’s pep talk we will set A THREE PART goal

Part One – A Professional Restaurant P&L Statement

Part Two – Accurate Information - The day after the end of the month, quarter or year.

Part Three – A 10% Profit ate the end of each quarter... and year

Today’s podcast is part one of a two part series…

This week I am going to explain – WHAT THE P&L STATEMENTS IS and The various components of your P&L. The Goal is to help you understand exactly what your P&L is trying to tell you…

Next week in part 2 we will make a deeper dive - I will show you how to IMPROVE your P&L

so you can achieve the GOLD STANDARD in the restaurant world – The Coveted - 30-30-30-10

As a society – we humans have mixed feelings about the future…

Some think it will be better than the past. Some think it will be worse.

And some others - think it will be Armageddon…

Personally I believe THIS is the BEST time in the history of the world to be alive and the OVERALL future of AMERICA is going to be AMAZING…

The question of the day is – WHAT WILL YOUR ROLE IN THE FUTURE BE..?

Most restaurant owners are busy people…

They have a 1,000 balls up in the air at any given time.

There are always - more things to do - than there is time or money to get them done…

So we try to go faster – we push harder on the gas pedal to get more and more done…

The BIGGEST PROBLEM I see – is MOST restaurant owners have their right foot on the gas…

They have the pedal - All the way to the floor…

They are working ALL OUT – FULL BLAST

BUT - they are not moving forward – they are fishtailing all over the place.

BECAUSE THEY ALSO HAVE THEIR LEFT FOOT ON THE BRAKE…

We are all ego driven… We all have visions of grandeur…

Most of us think we are better and stronger and more important than we really are.

AND – at the same time – Most of us SETTLE for a life that are FAR BELOW – what we are actually capable of.

The vast amount of Americans are bored out of their minds - living lives – far below their potential… Like peasants digging in squaller – making mud pies

And all the while - thinking they’re Hot Shit… Kinda…

Everyone has a story… A story that we tell ourselves…

And we have a story that we tell to others…

The question of the day is – HOW IS YOUR STORY WORKING FOR YOU

Is your story making you stronger or weaker.

I’ve discovered that there are seven Phases of restaurant ownership…

That we all must go through IF we want to make it to the top…

And that is what we are going to talk about today…

July 14th 1789 was a bad day for Chefs & Cooks…

This day is called Bastille Day… The beginning of the French Revolution…

Not only was this a political revolution but it also started a Culinary Revolution when all these chefs woke up the next day and realized – they were suddenly unemployed…

OUT of WORK because their bosses had been arrested or decapitated in the Guillotine…

WOW!

Why NOT show up every single day and work your ass off and see what CAN happen…

Why not BE the best teammate you can possibly be..?

Why not be the best leader - by leading by example…

And see where that might take you.

Why NOT?