A WISE MAN ONCE SAID…

A man who lacks purpose will distract himself with pleasure.

And – Sit me at the table where they are talking about self-improvement,

and achieving exciting goals— NOT gossiping about other people.

We are in the service business – we are here to serve others, BUT the coolest thing is…

When we give our best – we get more in return… than we give out.

Hospitality is a type of Love – when we give it out by the slice

It comes back by the loaf…

This week I had a revelation – a breakthrough –

And I am really excited to share it with you…

Every Restaurant has a Life Cycle…

Restaurants start out with a big splash… like a new baby coming into the world

Everyone LOVES – The NEW Thing… It’s Exciting.

Then, it goes through the toddler stage and the rebellious teen age period…

There is lots of strife between the young and the elders.

The Good & Great Restaurants make it through the strife and the turbulence.

Eventually become honed to Razor Sharpness

They achieve Peak Performance… These are the Glory Days…

No matter how good a restaurant is –

Eventually, for a thousand different reasons…

The sharpness will fade…

The restaurant will get passed, over taken by a newer, shinier Restaurant

Then it will begin the long slow - decline into oblivion… and irrelevance.

And slowly fade – to black.

The restaurant business like a giant oak tree…

With large branches growing off of a big solid trunk

And smaller branches growing off the big branches

and still other branches growing off those branches

And – we even have new branches that grow off the trunk from time to time…

When we look BACK at our industry – it is a labyrinth of interwoven parts - That kinda make sense –

BUT when we try to look forward – it’s IMPOSSIBLE to predict where this is all going.

BUT - that is what we are going to discuss today – I am going share with you

My thoughts on where I think the branches are heading so you can decide which part of this amazing business you want to be in… or at least start moving toward.

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…