#6: Restaurant Owners - 11 Stages to Overcome Challenges

October 21, 2020 by David Scott Peters

Restaurant owners are uniquely challenged in the small business segment and the hospitality industry segment. Prosperity is possible, but the challenges in the way of prosperity are many, especially during the COVID-19 pandemic. In the latest episode of my podcast, “The Restaurant Prosperity Formula,” I’m touching on those challenges and their best solutions. While some of the episode may not be easy to listen to because I will poke some of your current challenges, fragile emotional state and fears, tune in for a real message of hope and find your path to both personal and restaurant transformation.

Due to the pandemic, many restaurant owners find themselves in fear of bankruptcy or working their asses off and making no money.

Tell me if this sounds familiar. Maybe it's you. Or maybe it's another restaurant owner you know. You've worked your ass off for the last six years. You’ve poured your life savings into this restaurant. You’ve spent all waking hours here to make it work. And now COVID-19 hit. You’re going to lose everything. You’re so freaking angry. You’re so scared that all this work you put into this restaurant is going to be for nothing.

You’re afraid of letting down your employees and practically putting them all out on the streets. The job you provide them is how they feed their families. You feel so responsible for everyone. And out of control at the same time.

Maybe you identify with this statement just a little bit or it really hit home. Either way, feeling hopeless can rob you of your power as a leader.

You don't have to live in that space. What if I told you I feel your pain and I have a solution?

Would you want to learn? Great. Listen to or watch the episode above.

I cover what the most successful restaurant owners I've ever worked with do on a daily basis to be successful and how doing those things led to the transformation of their lives.

You see? Your restaurant is a reflection of you. When you can get over your own issues, the things that hold you back, you can be so much more successful. It's really magical because once you see how you’re holding yourself back, you can say yes to the solutions that I teach. While you may get upset and really riled up, frightened because of the COVID-19 pandemic and the restrictions the government put on you to keep people safe, and all the things that are going along with that like increasing prices and increased labor costs, your personal transformation is very critical to your success.

And it's literally taken me almost 20 years coaching independent restaurant owners, just like you, to really understand that you are your first big challenge when it comes to being successful. While I'm the systems guy and can teach anybody to use the systems, what I can't do is force you into changing how you view your restaurant and how to lead your team. But I can help you along that journey.

While the systems I teach are broken into 23 stages, the first 11 stages are the most critical to get right as soon as possible to get costs under control, increase your ability to communicate your expectations, to get out of your own way and to trust the people you hire to do the job you train them to do.


This episode is being brought to you by The Catering Coach. If you are a restaurant owner now more than ever, you need catering as a profitable, proven multiple revenue stream. But right now, who has the time to establish all the checklists, systems, packing lists and proven methods to grow your catering business? And who are your catering customers when there are very few catering events? You need The Catering Coach. Sandy Korem, the catering coach, and her team will show you the path to immediate catering profits by taking out all the guesswork of what works right now in this ever-changing world. Catering is not what it was last year, but catering is still profits, profits, profits. Learn the systems, learn the checklists, learn the out of the box methods that successful restaurateurs are using right now to be catering profitable. Click here to see if The Catering Coach is right for you.

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