722: Jeff Fenster on Vertical Integration and Relationship Capital

For 14 yours, serial entrepreneur, Jeff Fenster, has been creating companies in all kinds of spaces. These spaces included: a small payroll company, a digital marketing agency, a construction company. Obviously, there's got to be a restaurant thrown into the mix-- fast-casual Acai Bowl concept- Everbowl- with its headquarters in San Diego, CA. In its first 3 years, Everbowl has opened 19 locations in 2 states. He's also got  "superfuel coffee" label, which they're selling at retail and on Amazon.

Check out The Jordan Harbinger Show Podcast as mentioned in today's episode.

Check out The Smart Passive Income Blog as mentioned in today's episode.

Show notes… Calls to ACTION!!!

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Favorite success quote or mantra:

• "If you can crave the result so intensely, the work becomes irrelevant."

In today's episode with Jeff Fenster we will discuss:

• Micro-goals: what are they? How can they help?
• Entering a business/market with zero experience as a advantage
• Penetrate a market with fresh eyes
• 90% of restaurant fail because everyone comes from the same background and does things generally the same
• Relationship capital
• Digital marketing
• Creating the concept of Everbowl
• Benefits of turn-key
• Giving away food for free gets people through your doors and your food in their mouths
• Team members leave restaurants because of lack of opportunities
• Growth; can you grow too fast? Jeff says no.
• Vertical integration
• You NEED a coach and a mentor

Today's sponsor:

Restaurant365 is a cloud-based, all-in-one, restaurant-specific accounting and back-office platform that seamlessly integrates with POS systems, payroll providers, food and beverage vendors. It generates accurate real-time reporting and analysis in user-friendly dashboards, facilitating immediate, data-driven decision making. Restaurant365 eliminates manual, error-prone processes and is designed to help restaurant businesses grow with functionality that helps optimize labor costs, reduce food costs and increase revenue.

 

Knowledge bombs

1. Which "it factor" habit, trait, or characteristic you believe most contributes to your success?
   • Relentless
2. What is your biggest weakness?
   • Lack of patience
3. What's one question you ask or thing you look for during an interview?
   • Can you make friends and have fun?
4. What's a current challenge? How are you dealing with it?
   • Juggling family and business, trying to give 100% to each
5. Share one code of conduct or behavior you teach your team.
   • Be remarkable
6. What is one uncommon standard of service you teach your staff?
   • Making friends with every customer and make sure no one leaves unhappy
7. What's one book we must read to become a better person or restaurant owner?
   • Relentless: From Good To Great To Unstoppable by Tim S. Grover
     GET THIS BOOK FOR FREE AT AUDIBLE.COM 
8. What's one thing you feel restaurateurs don't know well enough or do often enough?
   • Don't look outside their own industry
9. Name one service you've hired.
   • Solomon Ward Attorneys at Law - San Diego, CA
10. What's one piece of technology you've adopted within your restaurant walls and how has it influence operations?
    • Zenefits Online HR Software
    • Xero Accounting Software
11. If you got the news that you'd be leaving this world tomorrow and all memories of you, your work, and your restaurants would be lost with your departure with the exception of 3 pieces of wisdom you could leave behind for the good of humanity, what would they be?
    • Make friends and have fun
    • Get one percent better every day
    • Be relentless

Contact info:

Email: jeff@everbowl.com -OR- connect@jefffenster.com

Social media: @fensterjeff -OR- @everbowlcraftsuperfood

Thanks for listening!

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Huge thanks to Jeff Fenster for joining me for another awesome episode. Until next time!

 

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