Little things do matter

The Compound Effect

By Julie Proctor, Account Director – Hospitality

“Consistency is the ultimate key to success, yet it’s one of the biggest pitfalls for people struggling to achieve.” –– Darren Hardy, author of The Compound Effect

Recently we’ve been discussing The Compound Effect – the brainchild of author Darren Hardy – and the merits of businesses taking this concept on board. If you’re not familiar, The Compound Effect is essentially the principle of reaping big rewards from a series of small, well thought out choices. It’s the result of consistent, hard work over time.

Darren Hardy, author of The Compound Effect, said: “The most challenging aspect of the Compound Effect is that we have to keep working away for a while, consistently and efficiently, before we can begin to see the payoff. Give me enough time, and I will beat virtually anybody, anytime, in any competition. I’ll win because of the positive habits I’ve developed, and because of the consistency I use in applying those habits. Consistency is the ultimate key to success, yet it’s one of the biggest pitfalls for people struggling to achieve.”

The point is that little things can make a difference and it made me think how relevant this was to the hospitality industry. The key to making The Compound Effect work for you boils down to six very important elements; preparation, hard work, reflect, review, adjust and try again. Preparation is key, whether that involves data analytics, formalising measurements, understanding customer needs or simply stocking the best possible ingredients. Preparation leads to hard work. Anything that is worth doing involves a bit of graft. It might be a case of trial and error and it might well be an activity that needs to be integrated into processes over the course of weeks or months but the most important thing is to learn from failures – as there are likely to be many of them. Consistently plugging away and not letting failures dissuade you from your goal is the ultimate trick. Sustaining positive habits over time will reap dividends but it requires perseverance.

A fancy new dish for example is only as good as the service that comes alongside it, or the vintage of wine that’s been recommended to complement it. It’s not just the dish that wows, it’s the people who make the customer experience special and allow customers to enjoy the food and atmosphere. Ensuring the workforce have the necessary skills, knowledge and attitude is therefore critical. Granted this won’t happen overnight but with preparation and due diligence on their part it could turn an establishment from a standard eatery to something special – potentially increasing profits from a more loyal customer base and increased prices.

We recently worked with Pizza Express to deliver the Pizzaiolo apprenticeship. It meant adding in a new unit to give Pizzaiolos the knowledge and skills to create Pizza Express’ special dough recipe. It was a small addition to the existing apprenticeship qualification but it made a huge different to the client. What small things would make a big difference in your business?

We’ll be discussing this topic in more detail at our Leaders in Hospitality Summit today.

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