In seventeen years of business coaching in the Hospitality Industry I’ve witnessed trends and fads, some promising technological advances, and some new and exciting approaches to food, booze and brands. Hospitality types tend to be a passionate bunch, and that often shows. But there are some fundamental areas that remain ignored or marginalised in the Hospitality Industry as a whole. Here are FIVE observations that you may find surprising … or not.
- Business owners in the Hospitality Industry do not tend to be routine readers; when asked, they often haven’t read a single business book in over a year. They are usually extremely knowledgeable practitioners of the technical aspects of their business, but remarkably unlikely to explore or grow their own knowledge of business.
- Business owners often spend a lot of time blaming the market, blaming their employees, blaming the customers and their ‘spoilt attitudes” … and very little time talking about hospitality, professional responsibility, community responsibility, financial responsibility, sustainability and the limitless possibilities of being in business.
- Business owners in the Hospitality Industry spend very little time thinking about how they are going to attract, keep and grow the best employees.
- Facing the brutal facts of their business’s performance is avoided at all costs, and most owners would rather continue with the underperforming status-quo than ask for help or discuss better ways of doing things with a business mentor, coach, or even their own managers. Some don’t understand their numbers; many don’t create short and long-term financial goals.
- Too many business owners are often tired, stressed, unhealthy and can’t see too far ahead. They believe the business could never work well without them and they’ve stopped dreaming about the life they really wanted.
But you know what? I’ve also observed the following …
- Owners of hospitality businesses are usually charismatic, energetic and bright. Once they start reading and learning about business it’s difficult to slow them down.
- When owners take their responsibility seriously – their sheer ability to work hard almost always makes them outrageously admirable. They often become influential leaders in their community, and their progress leaves the rest of us in their wake.
- Owners are often the most influential person in a young employee’s life.
- If the brutal facts of a business are faced – growth always follows.
- Owners of successful hospitality businesses can have a rewarding and rich life outside of their business – it takes an excellent business plan, disciplined thinking and action, and constant stimulation from like-minded people in business.
Phew! So much to achieve this year …
11/02/2015 Mr Hospitality