Episode Details

Back to Episodes

544: Harlan Scott on Why You Shouldn't Build an Empire without Equity

Published 7 years, 10 months ago
Description

Harlan has been in the hospitality community for almost 20 years and played a leading role in 8 restaurant openings and several re-conceptings. Scott has guided the growth of restaurants that not only survived but thrived into several unique locations by creating systems and finding the right people. Today, Scott is the proprietor of Industry located in, San Marcos, TX. In addition, Scott is the founder of Harlan Scott Hospitality where he helps people make their dreams profitable and scalable, simultaneously improving quality of life for the owner and the employee.

Show notes… Favorite success quote or mantra:

"Be authentic and consistent. Also, surround yourself with people who make you better."

In this episode with Harlan Scott, we discuss:
  • How Harlan got his start in hospitality and ultimately fell in love with it.
  • Attention to detail, and discipline to create and stick with systems being what separates the good restaurateurs from the great restaurateurs.
  • When you see someone with ability and potential, let them know they got what it takes and provide them with opportunity.
  • Using your pay check to invest in assets so you're not entirely dependent on your job.
  • Not over-spending when opening a restaurant. Also do your due diligence to research and become a part of the community.
  • Why you need to be your own cheerleader. If you're doing awesome stuff you need to tell people. Otherwise you'll be undervalued.
  • How to be your own cheerleader without sounding egotistical.
  • Creating culture with your presence. The way you work will set the pace and standard for everyone else.
  • Don't build a business unless you have equity in it.
  • How it is not ethical to dangle the equity carrot in front of talented, driven staff so you can get away with overworking and underpaying your team.
  • The benefits of creating a restaurant concept that caters specifically to restaurant industry professionals.
  • Knowing that as an employer your scope of responsibility goes beyond paying your employees a fair wage; it is your responsibility to mold the next generations of owners.
  • better edict for counter service.
Resources mentioned: Today's sponsor:

Cashflowtool.com A simple powerful and predictive cash flow companion for Qickbooks. Simple, because it requires no data entry, is always up to do and works on any device, anywhere. Powerful, because with it's built-in cash flow calendar, activitiy feed and anomaly detector, you instantly know all aspects of your cash flow with no surprises. Predictive, because you'll know your cash flow today and anticipate it tomorrow.

Knowledge bombs
  1. Which "it factor" habit, trait, or characteristic
Listen Now

Love PodBriefly?

If you like Podbriefly.com, please consider donating to support the ongoing development.

Support Us