Have you seen the TV shows that feature a failing restaurant or bar and a celebrity chef who comes in to save the day? This chef may transform the menu, provide a new way of operating the kitchen, makeover the seating area, or offer other helpful changes to the owner. Ultimately, they ensure that the product, aka the restaurant’s ambience and menu offerings, is good if not even great. Then, they allow the owner to take the reins back and operate their new and improved restaurant.
Recently, I was watching one of these shows that focuses on bars. On this episode, they revisited a few bars that had been “fixed” by the pros one or two years ago. I expected to see these establishments thriving. Instead, they were still failing! How could this happen if they had a guaranteed good product?
The answer is simple. The people owning and operating the restaurant were the same. They had the same mindsets, processes, and expectations. Unfortunately, a good product will still fail if it isn’t provided by a strong business.
What You Can Learn From Restaurants With Good Products That Failed
The same is true for you! If you have a great product or idea, you have to have a great business model as well. Otherwise, you’re crippling the success of your product. Even worse, the people who need the solutions you’re providing won’t find your product or service. Bottom line, your good product will fail.
As an owner, you need to continually work on yourself. Seek to educate yourself on leadership skills and best practices in your industry. You should also keep an eye on the numbers in your business. Is it performing the way you expected? If not, what may be causing the problems?
It’s impossible to grow if you aren’t assessing both your strengths and weaknesses. We are pleased to offer a comprehensive assessment tool for the 8 key drivers of growth in your business. It’s a great place to start! It will help you identify what aspects of your business may be contributing to failures rather than successes. Of course, many of the businesses we work with are doing quite a few things right, but this assessment helps them pinpoint key areas of growth to scale to six or seven figures.
Once you’ve identified the weaknesses, you should seek out resources that will help you grow. The primary reason good products fail is because the business owner becomes stagnant as a leader.
If you’re looking for a place to start, here are a few of my favorite leadership resources:
My top podcast recommendations for leaders:
This podcast offers personal, practical coaching lessons that take the mystery out of leadership. Craig brings you empowering insights and easy-to-understand takeaways you can use to lead yourself and lead your team. You’ll learn effective ways to grow as a leader, optimize your time, develop your team, and structure your organization. Looking for an episode to start you off? “Listen to 3 Secrets To Lead Yourself.” Craig shares how you are likely the most difficult person you’ll ever lead. In that episode, Craig shares two “whats” and a “who” that will help you completely rethink what you consume (and inevitably become) as a leader. You can also watch the video and download the leader guide: https://www.life.church/leadershippodcast/3-secrets-to-lead-yourself
I host this podcast each week to teach owners how to grow their business, grow their leadership and grow and develop their team. On the most recent episode (at the time of this post), Mike Michalowicz shares “Why Different Is Better.” He discusses the frameworks that helped him build multiple seven figure businesses. He also shares his “no-bullsh*t” method to differentiate your business and stand out in the marke