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This episode is a business coaching course that explains the hospitality market.

Results-Focused Training, Tools, and Workshops from Expert Business Coaches.

Featured Coaching Excerpt - Notes & Transcript, Part 1
  • How do I thrive in a dampening hospitality market?
    -Valery M. - Russia
  • 5 Steps To Thriving in Hospitality: 1. Accept your current reality.
  • Mystic Statistic: "...average occupancy fell 4.7 percentage points to 68 percent, and average daily room rates decreased 8.6 percent..."
    -Hotel Market Staggers in New York City
    (New York Times - January 2015)
  • 5 Steps To Thriving in Hospitality: 2. Become a destination.
  • Lesson Nugget: Become a destination that is the focal point of conversation in your town and region.
  • Notable Quotable: "Vision without execution is hallucination."
    -Thomas Edison
    (American inventor and businessman who developed many devices which greatly influenced life worldwide into the twenty-first century.)
  • Steps to Becoming a destination: 1. Focus on the sight and cleanliness of the hotel or facility
  • Steps to Becoming a Destination: 2. Focus on the ambient sound in your business
  • Editor's Note: If you'd like direction in which music to play in your business, email us at info@thrive15.com.
  • Steps to Becoming a Destination: 3. Focus on the smell of your hotel and facility

Featured Coaching Excerpt - Notes & Transcript, Part 2
  • Steps to Becoming a Destination: 4. Make it an experience at your hotel or facility
  • Steps to Becoming a destination: 5. Script out the interactions at your hotel or facility
  • Lesson Nugget: Creating a destination that people want to visit will raise your Net Promoter Score.
  • Definition Magician: The Net Promoter Score is an index ranging from -100 to 100 that measures the willingness of customers to recommend a company’s products or services to others. It is used as a proxy for gauging the customer’s overall satisfaction with a company’s product or service and the customer’s loyalty to the brand.
    (http://www.medallia.com/net-promoter-score/)
  • Lesson Nugget: You can calculate your business' Net Promoter Score by asking your customers "On a scale of 1 to 10 (with 10 being the highest), how likely are you to recommend our product or service to a friend?"
  • Lesson Nugget: Net Promoter Score Promoters % (9s & 10s) - Detractors % (0 through 6s)
    (See Downloadable For Graphical Diagram)
  • Editor's Note: "Suit and Tie" - Jay Z & Justin Timberlake
  • Notable Quotable: "Good artists copy, great artists steal."
    -Pablo Picasso
    (Spanish painter, sculptor, printmaker, ceramicist, stage designer, poet and playwright)
  • Mystic Statistic: 17% of all insurance agents...

- The next is experience. You have to make it an experience. So when people come in, you need to be thinking about how's your staff dressed. Are they dressed to impress? Or are they dressed the way they want to addressed? Or are they dressed by just default whatever? Are your guys, maybe you're goin' to do like a lumberjack theme. Maybe all of your employees dress up like a lumberjack. Maybe it's an old school 50's theme. Like it's old school 50's America. Kinda like it's that old school look. Maybe you're goin' into like your team wants to do like an 80's theme. So everyone on your staff dresses in 1980's apparel. Jean jackets, George Michael everywhere. Maybe it's a Madonna theme. I don't know, but you have to have some kind of experience. And then the next, is you have to script out the interactions. Sight, sound, smell, experience, interaction. So how do you make all that happen? Well, first of all, if you do all that, how does it make you a destination? Well it increases this thing called your Net Promoter Score. What's a Net Promoter Score? Thrivers, we have a downloadable for you about this. The Net Promoter Score was developed by some really, really smart people. Professors who are, you know, they're workin' at Harvard. They're comin' up with these great ideas and this is what the Net Promoter Score is defined as. The Net Promoter Score is an index ranging from zero to 100, from negative 100 to 100, okay? So it ranges from negative 100 to 100 that measures the willingness of customers to recommend a company's products or services to others. It is used as a proxy for gauging the customer's overall satisfaction with a company's product or service and the customer's loyalty to the brand. I'm gonna read it one more time. The Net Promoter Score is an index. It is used as a proxy for gauging, for gauging the customer's overall satisfaction with a company's product or service and the customer's loyalty to the brand. I don't know what that means. blah, blah, ble, ble, blah. What does that mean? What it means is if people are wow-ed, they talk about it. So if your hotel is just a hotel where people pay $89 or $100 and all they get is a room and a bed, people don't talk about that. I don't go on Facebook and I'm like, "Oh sick, I stayed at a, let me take a selfie of myself. "I just have to get my iPad out and take a selfie of myself, "Boom, ah I stayed last night in a hotel and it was $89 "and it was $89 "and it was clean." Well, no what you do is you take a picture of yourself where you're like, "Here I am, Caesar's Palace. "I'm standing in front of the Caesar, pfffft. "Oh, look at my lunch, it's crazy, "I'll take a picture of my food. "Oh look, my food looks so good, look at the food. "Look at it, they folded, they folded the towels "in the shape of a duck, look at that. "Origami in the bed. "I go to the bathroom and look, my towels are folded "in the shape of a swan. "Oh wow, I'll take a picture of that." When I share, what happens? Your revenue grows, okay? So let's look at my little diagram. Let's flip over here to my iPad drawing I've been working on here for several hours. This is Hotel A, this is Hotel B, and this is Hotel C. Hotel A just does everything right. All they do is everything right. So they kinda, their standard, they go all the way up to here, but they don't really wow. They're good, they're quality. It's probably not you, it's probably other people. But it's okay. Now, the next hotel, Hotel B, this thing is like you know, they kinda wow right up to that line. They don't really quite wow, they're almost to the wow, but they don't wow. Now Hotel number C here, this thing is like an absolute wow. This thing is like unbelievable. You walk in, the sight. They put in a waterfall. They spent $2,000 to put in a waterfall. The whole wall is a wall of water. You walk in and it's flowing. You walk in and the music is like And you walk in and you just feel kind of sexy because you're at thehotel with the water And you're like, "Oh Mom, let's take a photo by the hotel "wall with the water, it's sick. "Oh, it's awesome, it's crazy." Those of you who are in Russia, the word sick means great, fabulous, awesome. Or so if something's really sick, you know, that's a good thing. It's not bad, you know, anyway. So the third is a smell. You walk in going, "Smells like pinion wood." "Pinion wood." "Pinion, pinion." Waterfall, waterfall. "Pinion, pinion." And then the experience, the guy greets you. He's wearing a tuxedo. To quote Jay-Z, "I'm wearing a tuxedo with no reason." Right? Because I'm just tellin' you, what it does, is it makes you stand out. I mean Justin Timberlake on the 20/20 Experience Tour, he's wearing tuxedos. It makes him stand out. If you dress with a suit and tie, ohhhh. You might wanna just listen to that song tonight. Just go on YouTube or you probably should just buy it. Go on iTunes or whatever, but listen to that thing, okay? But the thing is that when you are dressed up if the person greets you has a suit and tie on and they go, "Hello, welcome to the hotel, "how may I serve you?" I mean, now waterfall, smellin' like pinion wood and all of a sudden we're not quite wow-ed. Now the experience, they say, they say, "Hey, would you like a fresh baked cookie?" And you're goin', "Doesn't DoubleTree do that? "Didn't you just steal that idea?" "Steal my idea from the Doubletree?" Why not? To quote my main man, Picasso. "Picasso, you know, the artist? "Yeah, great artists steal." Oh, that's not very nice. "You mean Steve Jobs didn't invent the mouse? "I thought he--" "No, he stole it from Xerox." "You mean that, I thought, what?"

Featured Coaching Excerpt - Notes & Transcript, Part 3
  • 5 Steps to Thriving in Hospitality: 3. Implement checklists in your hotel or facility
  • Notable Quotable: Yet virtually all hospitals are plagued by infections and deaths caused by improperly inserted central lines. When the state of Michigan began using a checklist for central lines in its intensive care units, its infection rate plummeted 66% in just three months. Soon, its ICUs were outperforming 90% of all hospitals nationwide. In 18 months, the checklist saved an estimated 175 million dollars and 1500 lives.
    -Atul Gawande
    (American surgeon, writer, and public health researcher)
  • 5 Steps to Thriving in Hospitality: 4. Followup on the checklists
  • 5 Steps to Thriving in Hospitality: 5. Create a merit-based pay system
  • Lesson Nugget: Merit-based pay means that employees are paid based on what you do, not upon what you say you did.
  • Action Step: Send surveys to customers after they do business with you and incentivize employees for overdelivery and great performance.
  • Editor's Note: Email us at info@thrive15.com for the survey to send to customers.

- Now, just take ideas that are proven to work and bring them to your own place. Now the interaction right? When I get into my room, I go, I get into my room, I check in. Why don't you do it where like, two minutes after I check-in, I get a call. Ring ring. "Hello?" "Yeah this is the front desk, "I'm Mr. Clark. I just wanted to "make sure you're checked in properly. "I also want to make sure you came on downstairs "for you complimentary desert. "When would you like to have that?" And I'm like "Oh!" And I'm going to do what? I'm going to promote, because the numbers all add up, and now I'm becoming a net promoter, because you have become a destination, which is the focal point of my conversation, as a result of your transformation. Sick! So, remember, Russians, in America, that's a good thing. Now, the checklists. How do you know if you, how do you know if this stuff is going to get done? There's a lot of things we just talked about. We talked about sight, sound, smell, experience, interaction. You have to have a checklist. If you don't have a checklist, it won't get done. Right? If you don't have a checklist, you'll forget a step. We're going to put up a quote here from the Checklist Manifesto, which is written by a man named Atul Gawande. This is the guy who deals with surgeons and doctors and the World Health Organization. And in his fabulous book, homeboy discovers that a large percentage of people, we're talking about doctors, they forget to clean a patient's skin if they don't use a what? A checklist! So how are we going to run a hotel without a checklist? I'll tell you what, we're not going to. And which hotel is going to make the most money? The one that becomes a destination as a result of the transformation which will then become a focal point of my conversation. Boom, sick. Okay, moving on. So now, number four. You've got to follow up on the checklist. Just having the checklist doesn't mean they're going to get done. In fact, if you have a checklist, as a man who runs multiple businesses, I will tell you, they will not be done. I'm pretty sure they don't get done just because there's like a deity out there that wants to keep me humble. But it's a thing where like, people won't do what's on the checklist unless you follow up. "Well, but I made a checklist and my people are good." Whatever, unicorn. Listen, you can't ride a unicorn to the end of the rainbow to find your leprechaun, okay? I mean, what am I saying? Show me a group of people who self-regulate without a checklist and just don't forget a step and I tell you we're in heaven. "You mean in your mind heaven is a checklist?" Yes. Okay, moving on. So interaction. Interaction. The final part is the follow-up. The final step here is you need to have that merit based pay interaction with your staff. "Oh gosh no." Merit based pay interaction, which is based upon satisfaction. Merit based pay interaction, which is based upon satisfaction. Why is it so important that you have merit based pay interaction and what does merit based pay mean? Merit based pay means I'm going to start paying you based upon what you do, not based upon what you say. "Well I feel like I should just be paid "for what I say I'm going to do. "Why don't I get paid based off "what I said I was going to do? "I said I was going to do it. "I said I wanted to be rich. "I said I wanted to be a good spouse. "I said all the things, I did my best." No. The customer is not going to come back because you, "I did my best." No. They're only going to come back if you actually do it. So you implement surveys that you send to the customer after they stay at the hotel and you want to incentivize the survey. And we have templates for you, downloadable., We'll send it to you. Just email us at info@thrive15.com and request the actual survey, we'll send it to you. And what you'll do is, if I am, "My name is Danny. "Hi, my name is Danny "and I'm your front desk guy." And you do a survey and it says, "On a scale of one to ten, "how likely are you to refer our hotel "to other guests?" And the customer says four. And it says, "How, on a scale of one to ten, "how happy were you with the front desk service?" And I'm the front desk guy and it says four. And then it says, "Overall, what could you do better?" And it says, "The front desk guy, Danny, is an idiot." Guess what? Danny, in this case me, I should get paid less. Now if I do a good job, I should be paid more. So on a weekly basis, you want to set up a bonus structure so that people get paid, based upon their results, not based on their intentions. So that is how we do it. That is the specific steps to thrive in a dampening hospitality market. Other tips and trainings that can help you are we have fabulous search engine trainings. I recommend you're top in Google so that people can find you, because you need kind of a funnel. Two, we have fabulous trainings on online advertising. We are only advertising to your ideal and likely buyers. And third, I would recommend you watch our trainings on retargeting ads, ads that follow you around the vast cosmos known as the Internet. Thrivers, if you have any questions, email us at info@thrive15.com. We are the world's best business school, business school without the B.S. Get out here to a workshop. It's included in your subscription. There's no other costs, just get out here. You'd enjoy it. You've got to come to our tiki village. Come see it. It's beautiful. Boom.

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