Is the glass half full or half empty? It’s a question that can often reveal a great deal of information about someone’s personality. Are you prone to see challenges as opportunities or are you apt to view them more as obstacles stifling your success? Chances are if you’re a restaurant operator in today’s ¸ber-competitive landscape, your answer would more than likely be half empty, with most operators believing that every new challenge is yet another roadblock to success. And, who could blame them?
In the last decade restaurant operators have had to contend with an tsunami of challenges – from escalating costs, to stifling legislation, to intensifying competition, not to mention the changing demands of an increasingly more discerning and sophisticated clientele as well as pervasive issues with staffing (see series starting on p. 31). And, if that’s not bad enough, operators are still required to deal with the day-to-day minutiae of running a restaurant as well as circumstances beyond their control – the economy, geopolitical tensions and a host of other possible calamities. What’s a foodservice operator to do?
Well, these days, the simple answer is to evolve and stay as nimble as possible. As much as operators may feel overwhelmed by the rate of change taking place (understandably so), it’s only going to intensify. The industry has been forced to change in ways few could have previously imagined. Who would have predicted, for example, the emergence and growth of the fast-casual segment, the popularity of healthy foods and the impact of technology on a restaurant’s operation?
While challenges will always exist, it’s important industry players stop viewing such issues as impediments to success and look at them as an impetus for growth, all the while differentiating restaurants from the crowd. Speaking at the recent Hotel Association of Canada conference held in Toronto, retail Doug Stephens, founder, of Retail Prophet entertained the room of hoteliers with lessons from the most innovative companies and made some startling points in the process.
“We now have access to a universe,”Stephens said, pointing to the growth of the online world. “No one needs what you sell anymore. We’ve moved to an abundance economy.” As an example, the futurist asked, “Does the world really need another fast-food chain?” He answered his own question by positing that by “starting with a different place, a remarkable and addictive experience unlike any other” can ensure success. He cited Chipotle’s mission of “Food with Integrity” and Starbucks’ mission “To inspire and nurture the human spirit one person at a time,” as examples of companies that are doing it right.
“When you focus on the why, and not the what, it becomes a gravitational pull,” he told the audience. “The real competition isn’t your competitors, it’s the next new thing.” In the same vein, it’s not the challenges that will impede business, it’s a failure to see them as opportunities for growth.
Speaking of growth F&H is pleased to offer an executive summary culled from the results of this years “Bottom Line” report (see story on p. 23). The full digital report will be available later this spring.
