I Help Hospitality Businesses Boost Wellbeing, Life-Balance & Growth, Inspiring Industry System Change to Regenerate Visitor Economies so the Future of Hospitality Makes A Difference for People, Place & Planet
"86% of hospitality businesses are not optimistic about the future of hospitality"
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G'day Reader I want to talk about confidence today and why it's so important to have it. Especially in tough times. "86% of hospitality businesses are not optimistic about the future" was an article I read a few days ago. The survey was for the UK, but let's face it, the same bleak outlook exists in Australia and everywhere except...Dubai (for another newsletter). So, ONLY 14% of businesses ARE optimistic about the future. Are you in the 14% or the 86%. If you have 30 seconds, reply to this email with just the number so I know! I'm genuinely interested. So, why is confidence important? Well, confidence is one of my 9 C's part of the BEE™ Transformation (Tx) Blueprint journey to get better results. The 9 C's are:
They represent the state of mind we need along the transformation journey Confidence is number 8. Way down the list. That's because there's a lot to learn about changing an outcome and to be confident doing it, you need to learn each stage. 86% of businesses may be waiting for something bad to happen to them. Let me give you an example of lack of confidence.Jim (not his real name) was a mentoring client of mine 2 years ago. He had 3 venues, had been a founder for 30 years and was worth about $6m in assets, but his cashflow was falling rapidly. When I met Jim, I recognised the problem wasn't that he was suddenly doing everything wrong and failing, but that he had lost confidence in himself. So, for 3 months, my focus became helping him get his magic back. I guided him a little more at the beginning, but as we got further into the 3 months, my input was more to encourage him to be clear in his own mind. Within 3 months the cashflow decline had been reversed and he had 2 clear strategic options how to move forward in his business. He regained his confidence. Now, the reality is that I helped him:
When we go through tough periods, our confidence can be 'knocked'. I sense that many of those 86% of businesses who aren't optimistic about the future don't have the confidence (or most of the other 8 C's) to know how to grow their business and thrive. Most of them have been 'doing ok' for a long time and then the pandemic came along and changed everything, only to be followed by more chaos. If you've only sailed your boat across the lake in good weather and suddenly you find yourself in a storm, you haven't learnt how to sail to safety in a storm It's not easy. It's hard. But it is possible to transform your results, no matter what your current situation is. Part of the problem is that after working so hard for so long to keep the boat afloat in the storm, many leaders are exhausted, stressed and heading towards burnout (without a life jacket). If you're:
then please hit reply and just type "I need help" and press send I'll arrange for us to have a chat and talk through:
Hitting burnout is no fun and we always think we're further away from it than we actually are. We think we're invincible, until...we're not! That was how it was for me. I burnt out a decade ago. I don't want anybody to go through that. So, I'm here to help. You get to:
If you're flying, then you can still reply and share your secret with me! Have a wonderful week Reader PS. I wrote about this in a post the other day that you can read here Remember, we're stronger together. David ('DC') Carruthers Find out how to work with me to build your business or career and thrive:
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David Carruthers
I Help Hospitality Businesses Boost Wellbeing, Life-Balance & Growth, Inspiring Industry System Change to Regenerate Visitor Economies so the Future of Hospitality Makes A Difference for People, Place & Planet
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G'day Reader Your Future of Hospitality may feel uncertainHere's how you can feel more in controlYou can't change the converging crises we face:• cost-of-living crisis reducing revenues• inflation pushing up ingredient costs• wars making our future uncertain• economic policy killing society• climate change concerns• supply chain challenges• staff recruitment• bust/burnoutBut, you can change how you respond to themThese converging crises continue to drive:❌ record-breaking levels of business...
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