Doubling Down on Your Dreams: Daniel Shemtob, chef/owner TLT Foods & Hatch Yakitori

You’ve gotta bet big to win big In 2019, Daniel Shemtob leveraged millions to build the hospitality empire of his dreams. Food trucks to fine dining and even a catering company, he’s focused on absolute domination of the industry. Daniel built a big ship and now he needs to captain it through an economic disaster. On this episode we cover the lessons he’s learned over the last 4 months and the plan he’s created to thrive in the future. Click to sign up for our weekly newsletter. Click here to book time on my personal calendar. Click here to download our Restaurant Recovery Guide. Want to streamline your front-of-house operations and increase sales? Head over to http://restaurants.yelp.com/fullcomppodcast to claim your free page and learn more about these powerful tools for your business. SHOW NOTES Successes in 2019 Daniel considers himself an entrepreneur first and foremost Redefining goals in 2020 Changing perspectives with assets and liabilities Preux and Proper was 6000sq ft Was an asset Now a liability - too much space Honing focus can help avoid this shift Taking on too much can turn an asset into a liability Fixed costs have been the most challenging Rent Opportunities during Covid Big shifts in the market cause opportunities Previously would jump on opportunities Now considers things for longer Josh realized he struggled with focus Busy isn’t successful Busy isn’t profitable Pairing down from 15 objectives to 3 Best decisions made during the first 90days of the pandemic Getting ENDL loans He wanted as much capital as possible to have a runway Thinking like a startup Being willing to pivot Deploying funds correctly Rolling out a late-night experience Compensating for losing 40% of dine-in revenue Daniel lost a lot during the pandemic Becoming charitable Giving away shoes 100s shoes to those who needed them Giving away food 1500 meals Daniel’s mentor felt inspired by his positivity Reforming the businesses Fine-dining restaurant reopened to great success Catering will take the longest to reform Large events are where you make the most money Shoe company is doing well Sold out very quickly Is there more value in being small? Pre-Covid Daniel was doing well but not “crushing” Working extremely hard - spinning his wheels The ability to reset is a gift Brands Daniel is inspired by Sweet Green Looks at his own staff as the prize piece of his empire Being most proud of the culture he created The future of businesses are not in your control Being a great leader You are only a great leader if you know where you’re leading your team Daniel is leading team into a successful work dynamic Making money Quality of life Enjoy coming to work Have the team be more autonomous in their initiatives and taking ownership Ideas for creating a great culture What does post-Covid look like?