The Savvy Entrepreneur

Danny Meyer is called “America’s Most Innovative Restaurateur” and he just came out with a new book entitled Setting the Table: The Transforming Power of Hospitality in Business.

What can we learn from him? How can we use his insights to grow our business?

In this landmark book, Danny shares the lessons he’s learned while developing the winning recipe for doing the business he calls “enlightened hospitality.” This innovative philosophy emphasizes putting the power of hospitality to work in a new and counterintuitive way: The first and most important application of hospitality is to the people who work for you, and then, in descending order of priority, to the guests, the community, the suppliers, and the investors. This way of prioritizing stands the more traditional business models on their heads, but Danny considers it the foundation of every success that he and his restaurants have achieved.

Some of Danny’s other insights:

• Hospitality is present when something happens for you. It is absent when something happens to you. These two simple concepts—for and to—express it all.
• Context, context, context, trumps the outdated location, location, location.
• Shared ownership develops when guests talk about a restaurant as if it’s theirs. That sense of affiliation builds trust and invariably leads to repeat business.
• Err on the side of generosity: You get more by first giving more.
• Wherever your center lies, know it, name it, believe in it. When you cede your core values to someone else, it’s time to quit.

This is not marketing fluff from some used-to-be business owner with outdated advice. Heck, this is real-world marketing advise coming from a man who got his hands dirty running his own business the best way he knew how. Did you notice his comment on prioritizing and how it “stands the more traditional business models on their heads“? What is he teaching us? Do what works for you, no matter who says differently.

There’s a lot of information out there on how to start, build, run and market your business. Some of it conflicting, a lot of it confusing. If you read something that you just don’t agree with, doesn’t feel right for your personality or doesn’t fit your entrepreneurial values, no matter how popular or well-respected the source, don’t do it. Be a rebel. Do you own thing. Rules were made to be broken. How do innovative ideas come about? Certainly NOT by following the crowd!!

How hospitable are you in your business? What are you doing for your clients? What makes your business stand out from all the others? How much are you giving? Are you following the crowd or building your own unique business?