To be a great consultant, a deep understanding of an industry is table stakes, but you also have to connect with the needs of the employees that work within it, while helping a business grow and change appropriately. It's not an easy formula to master, but today's guest has figured it out.
Today we're sitting down with long-time FOICER - that stands for friend of ICR - Fred LeFranc. Fred is the Managing Partner and Co-Founder of Results Thru Strategy, a consulting firm focused on the hospitality industry. Fred and his team help companies improve their strategic planning, organizational development, marketing, and performance management, as well as enhance their technology-based systems. They also help with executive coaching.
Fred's four decades in the hospitality industry include stints as COO, CEO, Board Member, and President of a number of hospitality and technology brands, including Flat Rock Grill, Ruby's Diner, Fishbowl Marketing, and Louise's Trattoria. Inc. Magazine actually featured his corporate turnaround from Louise's which included design, concept development, food production, IT systems, and operational executions as a great milestone in his career.
Highlights:
- Fred's introduction to the hospitality industry (4:09)
- How Fred transitioned from hospitality to consulting (5:07)
- Fred's outlook on the current state of the hospitality industry (7:16)
- Common challenges for businesses in the hospitality landscape (8:30)
- Fred describes what it takes to be a great CEO in hospitality (9:48)
- Areas where companies are under-investing in their business (11:32)
- Fred describes his approach to technology integration in hospitality (13:20)
- How technology can amplify branding and business (15:26)
- Businesses that are excelling in their take-out and delivery services (16:40)
- The importance of understanding service channels (17:53)
- Most common mistakes made by early-stage companies (18:50)
- Biggest mistakes made by mature companies (20:03)
- Fred talks about his time as CEO of Engelman's Bakery (22:02)
- How Fred advises businesses amidst labor and inflation challenges (24:32)
- What Fred is seeing in M & A in the industry (26:13)
- Fred's projected future trends in hospitality (26:57)
- Most gratifying client engagements in Fred's portfolio (28:05)
What is Welcome to the Arena from ICR – Conversations with Today's Innovators & Business Leaders?
In the increasingly crowded and competitive corporate and financial ecosystem, it’s harder than ever for companies to break through the clutter and be heard. The media, investors, agenda-driven influencers, even customers and competitors, are defining your business story on their terms. Therefore, it is imperative that companies take control and proactively drive the conversation with stakeholders in an effort to build & maintain equity value.
In Welcome to the Arena from ICR, Co-Founder & CEO of ICR, Tom Ryan, interviews key business and financial players who influence the fate of public or aspiring public companies in the capital markets. As a former Wall Street Journal ranked sell-side equity analyst and the founder of one of the largest strategic communications firms in the world, Tom understands what it takes to navigate this complex environment.
This is a forum for CEOs, CFOs, institutional investors, sell-side analysts, financial journalists, private equity professionals and other financial community participants to share their stories and give advice in an open and candid conversation.
For more information, visit http://www.icrinc.com