Podcast Summary: "Ten Affirmations to Take into the New Year"

Podcast Information:

• Title: RESTAURANT STRATEGY
• Host: Chip Klose
• Description: The Restaurant Strategy podcast is dedicated to helping independent restaurant owners increase the profitability of their establishments. Hosted by industry expert Chip Klose, the focus is split between operations and marketing, delivering two episodes every week. Chip envisions a future where restaurants can deliver consistent, predictable 20% returns, transforming the lives of their owners and staff.
• Episode: Ten Affirmations to Take into the New Year
• Release Date: December 30, 2024

Introduction: Reflecting and Setting Intentions

[00:00] Chip Klose opens the episode by expressing his appreciation for the final week of the year, a time ripe for reflection and forward planning. He emphasizes the importance of being intentional about what worked and what didn’t over the past year, and what to pursue or avoid in the upcoming year. This reflection is particularly crucial for entrepreneurs navigating the challenges and triumphs of running their own businesses.

"What do I want more of and what do I want less of in the year to come?" [00:00]

Overview of the Episode

Chip introduces the core theme of the episode: ten mindset shifts and affirmations designed to propel restaurant owners toward success in the new year. He shares personal insights and practical implementations of these affirmations, aiming to help listeners crush their goals in 2025.

Affirmation 1: Focus on Profitability

[05:30]

Chip underscores the paramount importance of profitability in any restaurant business. Referencing Gary Keller's book, The One Thing, he articulates that profit is the lifeblood of a restaurant, essential for sustainability and growth.

"Profitability is the thing that keeps the engine running." [05:45]

He encourages listeners to identify the single most impactful action that can drive profitability, ensuring that all other aspects of the business align to support this goal.

Affirmation 2: Value of Time Over Money

[10:15]

Highlighting the irreplaceable nature of time, Chip compares it to money, which can always be earned again. He stresses the need to prioritize time by delegating tasks and investing profits wisely.

"Profit equals time." [10:30]

This shift encourages restaurant owners to streamline operations, freeing up their time to focus on strategic growth and personal well-being.

Affirmation 3: A Rising Tide Lifts All Ships

[15:00]

Chip introduces the concept that success should be inclusive, advocating for collaboration and mutual upliftment within the restaurant community.

"A rising tide lifts all ships." [15:15]

He shares personal experiences of referring clients to colleagues when there was a misalignment, reinforcing that individual success does not necessitate the failure of others.

Affirmation 4: Intentional Culture Creation

[20:45]

Delving into company culture, Chip emphasizes that it is a deliberate construct rather than an accidental outcome.

"Culture exists, whether you realize it or not. Therefore, culture can be created." [21:00]

Using Danny Meyer’s Union Square Hospitality Group as an example, he illustrates how intentional cultural practices can foster a harmonious and productive work environment.

Affirmation 5: Embrace a Life of Abundance

[25:30]

Chip encourages adopting an abundance mindset, where success and opportunities are expected and welcomed.

"Where attention goes, intention flows." [25:45]

He likens this mindset to searching for a specific car model, where focused attention leads to the perception of increased abundance, thereby attracting more opportunities.

Affirmation 6: Face Your Fears Head-On

[30:00]

Drawing inspiration from Stoic philosophers, Chip discusses the importance of confronting fears to overcome obstacles.

"Is this the condition I so feared?" [30:15]

He narrates the practice of Roman emperors living in destitution for a week to build resilience, advocating for facing fears to enhance decision-making and personal growth.

Affirmation 7: Embrace Your Current Position

[35:30]

Chip introduces the affirmation, “I am exactly where I'm supposed to be,” encouraging acceptance and learning from one’s current circumstances.

"You may not be where you want to be yet, but you're where you're supposed to be." [35:45]

He likens this to the rigorous training montage in Rocky, asserting that enduring current challenges prepares entrepreneurs for future success.

Affirmation 8: Set Clear Goals and Systems

[40:00]

Chip stresses the significance of goal-setting and systematization in achieving business objectives.

"Be clear with what point B looks like. Set a system of actions to get from point A to point B." [40:15]

He advises restaurant owners to establish actionable steps that they can control, ensuring progress from their current state to desired outcomes.

Affirmation 9: Lower Your Expectations for Greater Happiness

[45:30]

Referencing Dan Gilbert’s insights, Chip suggests that lowering expectations while setting ambitious goals can lead to increased happiness and satisfaction.

"The secret to happiness is to lower your expectations, set ambitious goals, and work hard to reach them without expectation." [45:45]

This approach reduces the constant dissatisfaction that comes from unmet expectations, fostering a more grateful and content mindset.

Affirmation 10: Strive to Be Part of the 1%

[50:00]

Chip concludes with the affirmation that to achieve elite status, one must be willing to do what others won’t.

"If you want to be part of the 1%, you have to be willing to do the things that the other 99% won't do." [50:15]

He motivates listeners to embrace humility and seek continuous improvement, highlighting that success often requires going the extra mile beyond common efforts.

Practical Resources: Server Playbooks

Throughout the episode, Chip promotes his Server Playbooks—a set of ten free videos offering scripts and sales tactics for restaurant staff. These resources aim to enhance top-line revenue by equipping servers and bartenders with effective strategies for upselling and customer engagement.

"The server playbooks are available absolutely free. 10 videos, 10 scripts, and tactics to implement into your restaurant." [55:00]

Listeners are encouraged to access these playbooks via the show notes to immediately apply the insights shared in the episode.

Conclusion: Embracing Change for Success

In wrapping up, Chip reiterates the transformative power of the ten affirmations discussed. He shares his personal success over the past year, attributing it to embracing these mindset shifts.

"Whatever those actions are, take that step forward. If you want to be part of the 1%, you've got to do things that the other 99% are unwilling or unable to do." [60:00]

Chip extends his best wishes for the New Year and reminds listeners once more to utilize the free Server Playbooks to kickstart their journey toward increased profitability and business excellence.

Key Takeaways:

1. Prioritize Profitability: Focus on actions that directly enhance the bottom line.
2. Value Time Above Money: Efficiently manage time to foster business growth.
3. Collaborate for Collective Success: Support and uplift fellow restaurateurs.
4. Create and Nurture Culture: Intentionally build a positive and cohesive workplace environment.
5. Adopt an Abundance Mindset: Expect and attract success by maintaining optimistic outlooks.
6. Confront and Overcome Fears: Face challenges directly to build resilience.
7. Embrace Present Circumstances: Learn and grow from current experiences.
8. Set Clear Goals and Systems: Define objectives and establish actionable plans to achieve them.
9. Manage Expectations for Happiness: Lower expectations to increase overall satisfaction while pursuing ambitious goals.
10. Commit to Excellence: Strive to be among the top performers by going beyond common efforts.

Notable Quotes with Timestamps:

• "What do I want more of and what do I want less of in the year to come?" [00:00]
• "Profitability is the thing that keeps the engine running." [05:45]
• "Profit equals time." [10:30]
• "A rising tide lifts all ships." [15:15]
• "Culture exists, whether you realize it or not. Therefore, culture can be created." [21:00]
• "Where attention goes, intention flows." [25:45]
• "Is this the condition I so feared?" [30:15]
• "You may not be where you want to be yet, but you're where you're supposed to be." [35:45]
• "The secret to happiness is to lower your expectations, set ambitious goals, and work hard to reach them without expectation." [45:45]
• "If you want to be part of the 1%, you have to be willing to do the things that the other 99% won't do." [50:15]

Final Note: Chip Klose’s episode serves as a comprehensive guide for restaurant owners seeking to enhance their business and personal growth in the new year. By internalizing these ten affirmations, entrepreneurs can foster a mindset geared toward sustained profitability, operational excellence, and overall happiness.

Listeners are encouraged to utilize the free Server Playbooks and implement the discussed strategies to witness immediate and profound impacts on their restaurant’s success.