Ken Burgin

Open Book Management for Restaurants

Podcast 1: Restaurant Profit Improvement with Open Book Management

My guest in this podcast is James O’Connell of the Hospitality Company. He’s based in Christchurch New Zealand, and like me, is constantly watching out for how best practice in hospitality management is used all over the world. He’s leading the way with the very important principle we discuss in this episode: Open Book Management.

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Questions we discussed:

  • What is Open Book Management in a nutshell?
  • How did you become interested in this concept?
  • How do we overcome generations of secrecy in hospitality operations?
  • What of legitimate business confidentiality?
  • How do we improve financial literacy and number skills in staff and managers?
  • What sort of processes and systems do you typically need to set up or change in a business that wants to embrace OBM?
  • It’s said that this is about ‘creating ownership’ for all staff – but isn’t that a bit of a cliche we hear all the time? Baby steps or is it all in one?
  • Particular challenges with OBM for the kitchen, the bar and the front of house?
  • How can this help with current staff recruitment challenges?
  • Best way to share rewards – is it about bonus systems?
  • How do these ideas stand up in the time of COVID, when everyone is short of money and customers?

Principles of Open Book Management for Restaurants, Cafes & Foodservice

  • Know and teach the rules.
  • Follow the action and keep score.
  • Give a stake in the outcome.
  • Sharing financial business information with all of your employees.
  • Creating a connection to the purpose of the business and a sense of ownership and responsibility from everyone on your team.
  • Sharing the rewards of good work.

🎧 Subscribe to Hospo Reset Podcast on Apple Podcasts. on Google Podcasts, on Spotify or your podcast app of choice. Here is the full list of Hospo Reset podcasts.

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