October 20, 2021 Internal landscape: most satisfying aspect of business = customers detailing appreciation of product and service -- affirmation that Anthony has right product, servers and family-oriented restaurant -- validation of his philosophies/approaches; self-doubt all the time -- Immediately asks "what did we do wrong?" if anything is "off"; self-blame as blessing and curse -- look at every dynamic/problematic patterns, determine causes, figure out how to get back on track/do things differently, generate new ideas to stay relevant; able to remain authentic; success = execution with minimal mistakes + retention of customers; 24/7 hours are physically and mentally overwhelming, disastrous for family life, and blur personal/professional boundaries; creates limited time to engage in other business ventures to keep sanity/divert constant focus on restaurant/have safe place to think about other ideas and be creative in other arenas; business is his passion -- loves creating opportunities; regimented exercise schedule -- must maintain good health; given that he has experienced so much adversity and manages so many details, he has learned to not allow psychological issues to burden/disable him...deals with them internally/alone; although wife Donna works full time, she handles all domestic responsibilities so Anthony can keep business afloat; when context was especially tough, downtime at restaurant could lead to drinking and going to a dark place -- vowed to to never again put himself in situation where he feels sorry for himself/drinks his sorrows away; creativity comes into play when figuring out what to do to set restaurant apart = creative dishes/entertainment/organic interactions with customers/initiatives incorporating community and students at local universities/annual customer appreciation event. Thoughts about future: fluid situation; conundrum= can't sustain current lifestyle, but difficulty walking away from successful operation -- provides jolt of energy/adrenaline -- like a high; will develop some kind of exit strategy over next 5 years -- possibly hire partner or management personnel -- but hard to relinquish control/detach self; wants to use his experiences for educational purposes so people can understand what the business is REALLY about -- learn how to deal with its challenges and what to do to develop a successful restaurant. We are grateful for Anthony's remarkable candor/insight, commitment to sharing feelings/perspectives/experiences, and providing a richly detailed glimpse into the inner workings of the restaurant business -- and his fascinating process.
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October 6, 2021 Pandemic-induced supply chain disruptions and labor shortages create significant lack of product and unprecedented cost increases; perpetual hunt for food sources and worry about jeopardizing consistency/disappointing customers; resist being reactionary to market conditions; take hit in profits for now rather than pass along increased costs to customers. Hemp business: studied extensively, capitalize on legalization of marijuana/bill allowing farmers to grow hemp, health benefits/byproducts like CBD -- Anthony and partners invest in full-service operation in Colorado -- then, overabundance of supply causes big price drop; invests in Florida group processing another byproduct of hemp plant -- hope to merge the two operations and go public. Real estate financing: represented lot of developers as attorney and did own real estate development, so knows how to navigate/think creatively/consider intangibles as a private lender...rocky early stages in both businesses -- like all start-ups; draws on experiences in law, politics and business to handle bumps. Videocast interruption due to building department issue that had to be handled on the spot = real time example of dealing with unforeseen challenges -- diverts attention from what's important -- tries to compartmentalize issues...involvement in other ventures means having very limited time -- but Anthony handles stress and manages time well -- able to give each endeavor the attention/time it needs...never encouraged to pursue different interests as a kid, so now: loves to learn about wide variety of arenas he finds interesting; seeks diversity/broad exposure; wants to know he did more than run a restaurant -- self-doubt, ego, strong entrepreneurial spirit; wants to be relevant and take his skill set and apply it to things he enjoys -- and wants to be successful at everything...careful, disciplined approach to evaluating new ventures -- thoughtful process, thorough analysis -- and always build in an "out"...Anthony takes us through process of considering purchase of another restaurant: look for long history of success and community support -- and stand-alone building -- then import his talents, team and approaches that are a proven success at Trattoria 632.
SHOW LESS October 6, 2021 Pandemic-induced supply chain disruptions and labor shortages create significant lack of product and unprecedented cost increases; perpetual hunt for food sources and worry about jeopardizing consistency/disappointing customers; resist being reactionary to market conditions; take hit in profits for now rather than pass along increased costs to customers. Hemp business: studied extensively, capitalize on legalization of marijuana/bill allowing farmers to grow hemp, health benefits/byproducts like CBD -- Anthony and partners invest in full-service operation in Colorado -- then, overabundance of supply causes big price drop; invests in Florida group processing another byproduct of hemp plant -- hope to merge the two operations and go public. Real estate financing: represented lot of developers as attorney and did own real estate development, so knows how to navigate/think creatively/consider intangibles as a private lender...rocky early stages in both businesses -- like all start-ups; draws on experiences in law, politics and business to handle bumps. Videocast interruption due to building department issue that had to be handled on the spot = real time example of dealing with unforeseen challenges -- diverts attention from what's important -- tries to compartmentalize issues...involvement in other ventures means having very limited time -- but Anthony handles stress and manages time well -- able to give each endeavor the attention/time it needs...never encouraged to pursue different interests as a kid, so now: loves to learn about wide variety of arenas he finds interesting; seeks diversity/broad exposure; wants to know he did more than run a restaurant -- self-doubt, ego, strong entrepreneurial spirit; wants to be relevant and take his skill set and apply it to things he enjoys -- and wants to be successful at everything...careful, disciplined approach to evaluating new ventures -- thoughtful process, thorough analysis -- and always build in an "out"...Anthony takes us through process of considering purchase of another restaurant: look for long history of success and community support -- and stand-alone building -- then import his talents, team and approaches that are a proven success at Trattoria 632.
September 30, 2021 Restaurant Revitalization Fund -- great idea to address lost earnings of restaurant owners -- but can't be too reliant on political initiatives -- have to be prepared for multiple outcomes...especially important to maintain high quality product and keep customers happy -- so stay true to core business values...greater impact of mistakes during difficult times -- triggered Anthony's earlier experiences with complacency/lack of attention to detail with former partners -- which resulted in loss of customers; despite some degree of let-down, team laid groundwork during pandemic that will pay dividends as economy rebounds...Anthony rejected fundraising -- didn't want to convey any sense of weakness or look to others to help with his problems...family funded Trattoria 632 business to maintain financial stability, enabling restaurant to preserve hallmarks of business and seamlessly transition to more normal times...ripple benefits of retaining core team: customers concerned about welfare of employees/pleased to learn that team was well taken care of/employees were still there...gradual shift from fear that business is in jeopardy to cautious optimism: increasing # of customers and deliveries each week, May 2021 off by small margin from May 2019 -- incredible, given that colleges and corporations were still remote and no one celebrating milestone events...the lifting of restrictions, increase in vaccinations, beginning of summer, and release of pent-up demand -- coupled with big takeout/delivery business and new back patio -- resulted in big revenue boost...restauranteurs opening new restaurants due to big rent reductions -- Anthony skeptical: how create business plan and assess occupancy costs/projected income during covid? Divide between people fearful of contracting covid in indoor spaces and those with greater comfort level with restaurant risks; Anthony feels restaurants unfairly labeled as covid incubators...anemic response to job openings in hospitality industry -- unexpected labor shortage -- related to government unemployment benefits and desire to find more favorable working conditions, a healthier family life, shorter hours, and new opportunities; can't pass along increased labor costs to customers...most restauranteurs preoccupied with return to fiscal normalcy -- but thinking about new business models such as pop-up/seasonal restaurants.
September 22, 2021 How Anthony deals with unforeseen external circumstances: situations run the gamut, including running out of propane and water main break; tapping into political connections to help resolve issues; must think on feet and figure it out; burden falls on you as small business owner; Monday night overwhelmed with customers -- unanticipated -- resist shot-gun approach and immediately hire more staff -- determine if actual pattern developing to warrant additional hires; line cook's absence on busy Sat night disrupts entire restaurant operations; want catering orders, but when have minimal notice, kitchen in disarray -- not adequately stocked -- but don't want to turn down business/want to do best to service customer -- so, tough for team. Pandemic: Anthony felt taking full control of business he had no experience with was even more daunting than pandemic...Feb 2020: numbers way down and different aura in restaurant -- people nervous/heightened awareness of covid coming to US; wanted customers to feel staff was healthy, so staff wore gloves -- didn't know right way to handle situation; doctor customer said country will probably close for 2 weeks -- Anthony thinks, "no way"; sure enough -- strict operation mandates: only delivery and take out; had to let 5 employees go/modify schedules for the rest...normally -- cyclical business -- can predict business on any given day and know how to handle situations -- now, totally unpredictable and out of Anthony's control...learning on the go; nothing can be done to reduce fear of the unknown; unsettling, sick feeling; have to find way through this; first 6-8 weeks daunting, but knew they did nothing wrong; knew they had to shift gears...good news: delivery and take out is one of their strengths, unlike most restaurants; recognize new patterns of delivery orders--weekend spike; restaurant not built for such high volume; try to appear as if everything is as normal as possible...supply chain disruptions force recalibration of stocking inventory with limited revenue; funding out of Anthony's own pocket = reinvestment in business -- look at end game; need to find highest quality product in new places; used email list to send out specials and remind customers about restaurant...fighting through tough times strengthens character/camaraderie; 5 days notice to open outdoor seating; built patio in parking lot in 2 days, doubling outdoor capacity, but very costly given shortage of supplies; now 50% indoor capacity with social distance...August business now like December -- team wants to hire more people, but Anthony counsels waiting to keep costs in line and avoid letting servers go when weather turns cold; need to use connections to procure heaters, given tight supply; significant number of customers not ready to come inside -- can't control this mindset; cold weather and covid spike cause numbers to plummet; first round PPP loans at 2xpayroll delayed 5 weeks-- very discouraging; uncertainty about receiving further government funding -- second round PPP at 3xpayroll?...2020: $800,000 revenue loss...Dec, normally top revenue month, now disaster...frustration, enormous anxiety -- not knowing; did we permanently lose our base? Self-doubt -- can we make it? How much longer will this last? Will people feel comfortable socializing again? Can't figure out end game; hard to have no control when used to having lot of control.
September 15, 2021 Running a small restaurant business is exhausting: requires constant hands-on attention and developing energy capacity like an athlete; team feeds off of each other to keep energy up; staff as theater performers with chameleon-like abilities -- always "on"...staff must compartmentalize problems to keep focus on customer -- made easier by fellow team members picking each other up...unlike most restauranteurs, Anthony doesn't send employees home when business is slow -- this engenders loyalty and willingness to step up their game when restaurant is busy; employees are accustomed to many moving parts, so when restaurant is unexpectedly overwhelmed, they proactively step into any role -- and creatively "cover up sins". Unforgiving business: customer could have 10 great experiences, but if 1 experience is not optimal, the restaurant may lose customer; try to recover relationship -- but sometimes you can't; sense of entitlement in affluent area; try to bend over backwards for customers, but only so much you can do; used to adversely impact Anthony, but now he realizes you can't satisfy everyone; nevertheless, so much must go right for customer to be happy. Typical 24 hours at Trattoria 632 -- looking under the hood at business operations: determine weekend specials and ingredients needed to execute them, contact respective markets to ensure product availability, calculate quantities by analyzing reservations and anticipated walk-ins, order fish, produce and liquor -- just enough, but not too much, make sure there's enough take-out/delivery materials, Anthony shops for everything that can't be delivered at 6am to get best pick of products, loads and unloads everything by himself so staff can get products early, make sure there's enough cash in register, figure out staffing needs for upcoming week, determine payroll/fund account, set tables, prepare outdoor seating, check heaters, answer phones, explain details of specials to staff so they can accurately describe sourcing and preparation information for customers, host tells servers about reservations coming in and what time each table is needed, Anthony as conductor in kitchen: managing orders/choreographing delivery orders, making sure tables get appetizers on time, advising kitchen when to fire up entrees; defuse potential problems -- e.g. offer food/drink to customers who have to wait for their table; go out to floor and engage meaningfully with customers.
August 25, 2021 Evolution of thinking in key facets of operations: Choosing wine/spirits: reduce breadth of offerings; keep inventory lean to minimize "dead money"/maintain liquidity; clientele not looking for high end brands and primarily order by the glass...Bar: "center of our universe"; lucrative revenue center since renovation; customers want to be part of the friendly atmosphere; 3 great bartenders with great energy/synergy/strong relationships with loyal customer base...Interior design: bar re-design; plan to expand/update outdoor seating...Entertainment: Monday open mike night with Purchase jazz dept. students, then Thursday night band -- generate excitement and big followings...Lunch/Pre-theater: local corporations and Purchase Performing Arts Center = big sources of business; finite period of time, so: limited menu, order and deliver food quickly to ensure good, unrushed customer experience...P.O.S. Technology: electronic system malfunctions cause big disruptions; migrating to more expedient iPad-based system. Life of a sole-proprietor: fast-paced, constant problem-solving, juggling many moving parts while making it look seamless, "controlled chaos"; so many things must go right for customer to have a good experience. Conversely, any piece out of place and whole system can go into tailspin; need ability to compartmentalize and deal with issues on as-needed basis; don't become consumed by one problem; always "on stage"; quickly pivot when something goes awry; study each station to identity "choke points" so can deal with problems quickly before they spread; learn to trust/delegate; be vigilant about controlling costs -- it's your pocketbook; importance of owner connecting/forming relationships with customers to make them feel special and want to return; angst over times when not present = missing customers; efforts never feel good enough -- always want to do more.
August 18, 2021 Staff buys into Anthony's philosophies/approaches by watching him : foster friendly, family-type atmosphere --- warmly greet customers, facilitate organic customer/staff relationships; go the extra mile -- expedite food in kitchen, add surprise desserts to take-out orders, make deliveries himself...central operational tenet: always serve highest quality/fresh product --- critical to retention of affluent clientele ---repeat customers make up for slimmer margins...make sure "soccer mom" -- community influencer -- is happy so she wants to come back and bring others with her...embed yourself in the community to become go-to destination...expand customer base by supporting/hosting events for community organizations...know/accommodate every customer's needs and treat them like family...stay on top of/adapt to changing culinary and business trends to drive organic growth... elements necessary to ensure consistency...strive for balance in business generated by each revenue center...composition of business...collaborative creation of menu.
July 28, 2021 Competencies, philosophies and approaches developed in politics lead to success in restaurant business...organically connect with customers and build strong relationships; monitor sales trends/listen closely to identify customer needs; promptly and calmly address issues; stay on top of/prioritize all moving parts; understand big picture; anticipate needs/exceed expectations; preparation, right team and right approaches are essential; delivery as a critical service; willingness to learn; no caste system/traditional hierarchy -- employees and owner assume multiple roles and function as a team/family; mutual trust; employees understand how decisions/approaches are meant to benefit entire business; laser focus on customer retention -- make sure everyone leaves happy; family environment for both team and customers=hallmark of restaurant; nurture creativity; provide employees with benefits, flexibility and agency.
July 21, 2021 Entire family experiences pervasive loss, fear, shame and uncertainty during long wait between indictment and sentencing; trying to shield kids from harsh realities of situation; strained relationships with wife and kids -- hard to be emotionally available/plugged in to their suffering; discomfort asking friends/family for letters of support-- but they favorably influence judge, boost self-esteem and reaffirm bonds; surreal separation of personal and professional life; sleepless nights and self-medicating with alcohol; attempts to ignore flood of bad press; focus on rebuilding self: regaining moral compass, being good parent and husband, developing successful restaurant using atypical approaches; sentencing error leads to new sentencing in which prison and probation time are reduced; codifies operation of restaurant to preserve business in his absence; step-by-step re-creation of harrowing first weeks in prison; emotional toll of visits; attempt to take advantage of time to work on himself and study potential new business opportunities; realizes value of wonderful relationships formed through the restaurant.
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