How businesses find their sweet spot
If you find your work flow, they (loyal patrons) will come
Ever wonder why some restaurants remain jam-packed, while others are empty? Crickets.
What is it about certain food establishments that operate at a seemingly flawless and fast clip, leaving customers satisfied, tables turning quickly, and food served efficiently.
For example, there's a Thai restaurant and Atlanta institution called Little Bangkok. It's been there for what seems like forever.
When I ate there recently, the place hardly changed in more than 15 years. The hot and sour soup was delicious, exactly as I remembered it.
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It was packed, with people waiting patiently to be seated. The take-out orders flowed out the door. The owner and his now-grown kids were minding the patrons.
It’s not fancy, and the seating area isn’t exactly spacious–in fact it’s pretty tight among the scant booths and few tables.
A long time ago, I wondered what would happen if they bought out the space next door and doubled the dining area.
But then, I realized they achieved what in business is the optimal situation – the sweet spot of input vs. output. Their current revenue stream satisfies the large overhead that comes with running a restaurant, while hopefully still leaving enough profit to be happy and live with a good quality of life.
They don't need to get bigger, and they probably don’t want to. They don't need a second location, and they’ve probably never changed the menu.
What's the formula?
Meanwhile, I was in New York City last week. The restaurant scene there is ruthless.
As a small restaurant not backed by a huge investment group, the harsh truth is that you’re probably not going to make it as a New York City restaurateur if you don’t serve either fast and/or delicious food.
Most mornings, the counter service Birch Coffee at 63rd Street and 3rd Ave is filled to the brim. They make a killer oat milk cortado.
Meanwhile, right around the corner, Joe & the Juice (& Coffee) is empty. Crickets.
And Soho fixture Balthazar, after so many years, remains a hipster destination spot for lunch with the glitterati and “see and be seen” crowd.
What’s the formula? Je ne sais quoi. But I recall the frites in my steak frites being quite delectable.
There's also a little Italian restaurant in North Miami, in the heart of Sunny Isles Beach, for which I’m unwilling to share the name out of selfishness, but also because of what I share next.
It's an unassuming spot in a strip mall next to a Dunkin’ Donuts and nail salon. The restaurant isn’t flashy, but it does have white tablecloths.
The chef is quite discerning and on most nights it's a comedy of errors.
People walk in to a mostly empty restaurant, but he turns them away because they either don’t have reservations, or because he doesn't know who they are—most times it’s the latter case.
He has achieved his sweet spot of cooking with love, and only for people he wants to cook for. The dining room is an extension of his home kitchen and it’s some of the best Italian food I’ve ever eaten and I’ve traveled Italy extensively: vitello tonnato, spaghetti vongole, pumpkin ravioli, and veal scallopine are some of my faves.
But it’s the patrons – North Miami’s real estate elite and prestigious families who dine there; you can tell by the Bentleys, Lamborghinis, and Range Rovers in the parking lot. I was introduced to the restaurant by a close friend and longtime patron.
The know they’ll be treated with a touch of exclusivity, and they can dine quietly with their families with discretion and in comfort.
The business sweet spot: A great place to be
What these businesses have in common is that they’ve all found their sweet spot.
While they’re not necessarily the cheapest nor fastest, they do offer a unique service that customers are willing to pay for.
In economic terms, it’s a healthy balance of inputs and outputs that result in a quality or excellent product/experience at a price that makes for happy consumers.
The same could apply to relationships and at work.
We all want to be in the position where we only work or serve people that we like; people we trust, people we enjoy.
As an entrepreneur or solo-preneur or company, if you’ve managed to be in the fortunate position to choose your customers, work as a fractional executive, and with an optimal work/life balance, then consider yourself lucky indeed.
It’s all likely a result of your dedication, work quality, and top notch service.
It's not easy to achieve, but trust me, it’s pretty darn unbeatable.
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Until next time,
Shindy
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