55 episodes

If you’re ready to stop being a prisoner in your restaurant and finally have the life you’ve been working for, you are in the right place. Podcast host David Scott Peters has been coaching restaurant owners since 2003 how to transform their restaurants and their lives by becoming the leader their restaurant requires for success. He has taught thousands of other restaurant owners how to do less and lead more, how to delegate and trust their teams, and use task-based systems to make it all work. The lessons he teaches and the solutions for the moment he offers are based on his Restaurant Prosperity Formula. To learn more about David and his formula, visit davidscottpeters.com or pick up a copy of his book, "The Restaurant Prosperity Formula: What Successful Restaurateurs Do."

The Restaurant Prosperity Formula David Scott Peters

    • Business
    • 4.9 • 16 Ratings

If you’re ready to stop being a prisoner in your restaurant and finally have the life you’ve been working for, you are in the right place. Podcast host David Scott Peters has been coaching restaurant owners since 2003 how to transform their restaurants and their lives by becoming the leader their restaurant requires for success. He has taught thousands of other restaurant owners how to do less and lead more, how to delegate and trust their teams, and use task-based systems to make it all work. The lessons he teaches and the solutions for the moment he offers are based on his Restaurant Prosperity Formula. To learn more about David and his formula, visit davidscottpeters.com or pick up a copy of his book, "The Restaurant Prosperity Formula: What Successful Restaurateurs Do."

    What a Typical Restaurant Software Tech Stack Includes

    What a Typical Restaurant Software Tech Stack Includes

    These days running a restaurant comes with a lot of technology. Starting with the most important, there is the POS system followed by website and social media management. After that, take your pick! Tech is available for reservations, online ordering, third-party delivery, scheduling, waitlists, loyalty program, food and beverage management, food safety, payroll, accounting, team communication, it’s honestly endless. Whatever tech you us, it is referred to as a tech stack. Times have changed since my family had its restaurant in the early 1980s when all you had to do was focus on delivering a great guest experience! In this episode of my podcast, The Restaurant Prosperity Formula, I break down what I love about restaurant software and all the ways it can support you in the goals you have for your restaurant and your life. I offer my recommendation for how to make the most of technology and the pitfalls of relying on it too much. Lastly, I touch on overcoming the fear of the unknown, which is a major factor in using technology but also something that can hold you back.
    Learn the 3 principles the most successful restaurant owners follow and how you can learn to follow them, too: https://dsp.coach/principlesx3
    Sponsor – Repeat Returns: http://repeatreturns.com/dsp

    • 23 min
    Why It Is OK to Let Your Restaurant Manager Go

    Why It Is OK to Let Your Restaurant Manager Go

    As a small business owner, one of the most difficult things to do is let someone in management go. Especially in an independent restaurant, these people can be like family to you and have put a lot of themselves into your business. But as you grow and adjust your expectations, some people just can’t grow in the job. Other times, they are just not a good culture fit. No matter the reason, concluding that it’s time for that manager to go sucks. Nobody likes to fire people, especially when you really care about them personally. In this episode of my podcast, The Restaurant Prosperity Formula, I want to teach you how to know when it’s time to fire a manager, why I would rather run short staffed than have the wrong people on my team, and what to do put yourself in a position where when a manager leaves voluntarily or through disciplinary action, you’re not worried about it. This episode is full of examples of how restaurant owners I coach have dealt with this issue and what happened once they followed through.
    Learn the 3 principles the most successful restaurant owners follow and how you can learn to follow them, too: https://dsp.coach/principlesx3
    Sponsor – Repeat Returns: http://repeatreturns.com/dsp

    • 33 min
    Which POS System Should I Use in My Restaurant?

    Which POS System Should I Use in My Restaurant?

    There is one question I am asked routinely by restaurant owners: Which POS system should I use in my restaurant? It’s an important question because your restaurant POS system is more than an expensive cash register. It’s full of data and reports you can use in your daily restaurant management activities. The problem is there are so many options on the market that it tends to get very overwhelming. Before I recommend which POS system you should get, in this episode of my podcast, The Restaurant Prosperity Formula, I talk about what a good POS should do for you, what to look for in a POS system company and what to consider when it comes to cost. Once you apply these considerations to your search, it will narrow the options down and keep you from being overwhelmed. Finally, I offer my favorites and let you know the favorites among the members of my restaurant coaching group.
    Learn the 3 principles the most successful restaurant owners follow and how you can learn to follow them, too: https://dsp.coach/principlesx3
    Sponsor – Repeat Returns: http://repeatreturns.com/dsp

    • 23 min
    Ditch the Excuses and Take Your Restaurant Business to the Next Level

    Ditch the Excuses and Take Your Restaurant Business to the Next Level

    Are you allowing excuses to stall your restaurant’s growth? While excuses get in the way of a lot of our personal growth, they bleed into your business growth as well. If you’re always looking for a reason something can’t be done, you’re not going to find a solution. The first step is to recognize this could be the root of your frustration and stagnation. In this episode of my podcast, The Restaurant Prosperity Formula, I will explain the common excuses I hear restaurant owners make and the damage they’re doing to their business. I will also give you some examples of restaurant owners who came to me, full of excuses, and walk you down the path they took to get out of their own way. I share what happened to me when I let excuses get in the way of my personal pursuits and what to look for in your own life to determine if you’re letting excuses rule you. And, of course, I’ll cover what you can do about it.

    Learn the 3 principles the most successful restaurant owners follow and how you can learn to follow them, too: https://dsp.coach/principlesx3
    Sponsor – Repeat Returns: http://repeatreturns.com/dsp

    • 27 min
    How to Use a Growth Mindset to Run a Successful Restaurant

    How to Use a Growth Mindset to Run a Successful Restaurant

    As a restaurant coach I talk to a lot of restaurant owners each week and, unfortunately, a lot of them are only looking to me to validate all the people and circumstances in their lives that they think are making things harder for them. They have what is commonly referred to as a fixed mindset, always putting themselves in their own story as a victim. That fixed mindset is the root of their challenges rather than outside circumstances. The flip side of that is the work I do with restaurant owners who have a growth mindset. These operators understand that bad things happen, but they also know they have the power to learn and grow from the challenges they face. People who have a growth mindset try to focus on what they can control in their lives instead of all the stuff that is out of their control. In my work as a coach for restaurant operators, I’ve found that resilience and gratitude are key traits of a gaining a growth mindset and for being successful. That’s why in this episode of my podcast, The Restaurant Prosperity Formula, I share with you how resilience and gratitude can be practiced daily to bring you a growth mindset. I cover examples of the differences between a fixed and a growth mindset, ways to build up your resilience and to practice gratitude as well as the importance of having a support system that encourages you to grow. When you can make resilience and gratitude a part of your daily life you become unstoppable.

    Add 13% to your bottom line and take 2 days off/week from your restaurant: https://dsp.coach/restaurant-freedom

    Sponsor – Repeat Returns: http://repeatreturns.com/dsp

    • 17 min
    How to Prepare for a Recession in Your Restaurant Business

    How to Prepare for a Recession in Your Restaurant Business

    Let’s talk about the recession. Are you asking, “What recession?” The talking heads and our government officials are all saying we are in a state of high inflation, and we could go into recession soon. How bad a recession or how long or short lived, no one knows. While I am not an economist and am not qualified to make this statement, I am going to tell you we are in a recession. I’ve been through enough of these cycles to feel confident in that statement. In this episode of my podcast, The Restaurant Prosperity Formula, I am going to define the terms and indicators of a recession, and how the lessons of the past should be informing our future, including how we handle what comes next. Listen to this episode to learn what the tried and true systems and preventative measures are for managing what comes next. Plus I’m going to share with you what the members of my coaching program are doing to gear up for what has the potential to be another knockout punch to our industry that still hasn’t stabilized. They’re putting plans in place so they can thrive instead of feeling sorry for themselves, and I hope you’ll find inspiration from all of it.

    Add 13% to your bottom line and take 2 days off/week from your restaurant: https://dsp.coach/restaurant-freedom
    Sponsor – Repeat Returns: http://repeatreturns.com/dsp

    • 26 min

Customer Reviews

4.9 out of 5
16 Ratings

16 Ratings

CafeAngie ,

The pep talk I need even when I don’t know I need it

These episodes were a terrific find. I lost my industry mentor when I needed them most and these episodes always seem to give me that little bump of motivation and self reflection I need.

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