Setting goals | KRG Hospitality

Two people sitting outside on a bench, dressed professionally, discussing goals and business

September 27, 2024by David Klemt David Klemt No Comments

Someone to Rely On: Accountability

Someone to Rely On: Accountability Partners

by Jennifer Radkey

To share or not to share, that is the question. More specifically, should you share your goals with others or should you keep them top secret?

I find there are three different groups of people when it comes to goal setting. There are the people who like to shout their goals from the mountaintop for everyone to hear. Then there are those who share with just a few select people. And, of course, the people who keep their goals entirely to themselves.

Is one approach better than another? The answer to that question depends on who you are telling your goals to, if anyone.

Be Strategic

You need to be strategic with whom you share your goals. Before you tell someone an intended goal you need to consider if sharing with them will affect your chances of reaching it.

There has been quite a lot of research recently on goal setting. One of these studies was done by NYU psychologist Peter Gollwitzer, and it included four tests.

In these tests subjects wrote down their goals, and then worked on them for up to 45 minutes. They were allowed to stop working on their goal at any time. Half of the test subjects kept the goals they had written down to themselves; the other half announced them out loud to the group.

Here’s the interesting thing: Those who had kept their goals to themselves spent the entire 45 minutes working on their goal, and still felt they had a ways to go before reaching it. The study participants who announced their goals to the group averaged only 33 minutes of working on their goal, and felt that they were close to completing it. So, they didn’t feel the need to continue working on it.

Essentially, they gave up on it.

Be Cautious

What does all this suggest? Well, due to how our brains work, sharing our goals gives us the same psychological satisfaction as actually achieving them. Therefore, we don’t do the same amount of hard work to reach them.

Hearing a lot of personal praise from others when we share a goal gives us that hit of satisfaction, making the process of achieving it less necessary. On the opposite end, hearing disapproval of our goals may make us doubt ourselves, and give up before even getting started.

So, should you keep your goals top secret? While research is still being done on this topic, it appears that sharing your goals with carefully selected individuals and reporting on your progress with them can actually aid you in achieving your goals.

You need an accountability partner.

Be Selective

When seeking an accountability partner you want to choose someone who embodies three main traits. They need to be impartial, honest, and positive.

An impartial accountability partner is not personally invested in whether or not you reach your goal. They come from a neutral space, and while they are rooting for you to succeed, there’s nothing in it for them either way.

They are able to provide unbiased observations, and offer a very helpful outsider perspective that often allows for greater clarity.

Friends can serve in this role if they don’t have a personal stake in whether you reach your goal. They would like you to because they want to see you succeed, but there’s nothing in it for them, no matter the outcome.

If your goal is to open a new restaurant, your spouse, as supportive and amazing as they are, may not be the best accountability partner. This is because the outcome of you achieving or not achieving this goal is going to have implications on their own life as well.

An honest accountability partner can be relied on to tell you the truth, and to ask the questions needed for you to be honest with yourself. They don’t tell you what you want to hear; they tell you what you need to hear.

In order to reach goals you need someone who will spark light on reality, someone who will point out what you are doing well, and what you may not be doing competently. They are honest in a helpful way, never in a degrading way. I don’t believe in being brutally honest; we should all be honest while remaining respectful of others.

Be Mindful

Lastly, the best accountability partners have a positive mindset. They will help you seek ways in which you can improve and grow.

A great accountability partner will cheer on your successes, and help you create action plans when reaching your goals becomes challenging. An accountability partner is there to help you thrive, not bring you down.

Effective accountability partners can be difficult to find. This is one reason why the coaching industry has taken off like it has. A good life coach becomes an accountability partner, a sounding board, and creates space for self-discovery and planning.

Unless you are organized, resilient, and dedicated to taking action, you may want to share your goals with an accountability partner who can help you stay focused and motivated along the way.

As for the social media blasts sharing your newest goals…maybe hold off on those until you have reached the goal. As good as it may feel to share with everyone, you may actually be doing more harm than good.

Cheers to personal and professional growth!

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March 13, 2023by krghospitality krghospitality No Comments

Do Goals Have an Expiration Date?

Do Goals Expire?

by Jennifer Radkey

A compelling question came up in a recent coaching call with a client: When is the last time you took inventory of your goals?

Like many other people, my client is a goal-setter, and not just small goals but big life goals. These goals follow all of the “rules” of goal setting: they are clearly written, attainable, and measurable.

Some of the goals are achieved and checked off the list and new goals have been made. And yet there is still a feeling of dissatisfaction.

So where is this feeling coming from?

We are always changing and adapting to the world around us. We are changed by life circumstances. We’re influenced by the places we visit and the people we meet. We grow, and over time we come to deeper understandings of what we value and want from life.

As we grow and change our goals do as well…but what do we do with our old goals? What do we do with goals that are no longer applicable to our life?

Do goals expire?

The answer is yes. Goals can expire. What you wanted for your life when you were 16 is most likely not what you want for your life now. The career goals you set in your early 20s probably do not apply to you in your 30s. The goals geared towards interests you had in your 30s may not apply in your 40s, etc.

This doesn’t just apply to personal goals, either.

If you own a business, the goals you have for your business can expire as well. It’s why business plans need to be revisited yearly.

The goals you had when you first opened may have changed in the year(s) since. A business can be likened to a living, breathing entity. It grows and adapts and interacts with the environment surrounding it.

Targets will be hit, new objectives will be identified. So, what do we do with our old goals?

If old, unmet goals are not recognized and processed, they will sit as unfinished business in the back of your mind. You may be acquiring all kinds of levels of success and achieving new goals, but if you are allowing old goals to remain without acknowledging them, it will show up in your mindset.

This can manifest as dissatisfaction, disappointment, confusion, anxiousness, a general feeling that something is “off,” or a never-ending quest for perfection.

So, what do we do with expired goals?

It’s time to sit down and take inventory of all of the goals you have for your life or business. The new and the old. The unmet and those in progress.

If you are like many of us on the path to success and self-improvement, this may be a lengthy list. Try categorizing goals to make them more approachable.

Once you have listed all of your goals it’s time to get real with them and ask yourself some questions:

Why was this goal unmet?
Why was it important, at the time, to have this goal?
What feelings are associated with this goal?
Most importantly: Does this goal serve me now?

If the goal no longer fits in your life, if it no longer serves a purpose, it is time for that goal to expire.

It’s okay to let go and move on.

Make peace with the fact that a goal can belong in a previous part of your life but does not need to be a part of your life now.

Accept that it was not completed, give yourself compassion, and move on. That goal does not need to take up space in your thoughts anymore.

If a goal still serves a purpose now and you would like to keep it, ask yourself why it is so important to you to keep that goal. Then ask yourself why it hasn’t been achieved yet.

Is this goal important enough to keep it and strategize new ways to break it down and make it achievable? If the answer is yes, great! Sit down with that goal, rewrite it, and come up with a new action plan to achieve it.

If the answer is no, let that goal expire, and let it go.

This process will take time and introspection but will provide you with overwhelming relief and a new sense of clarity.

Life is too short to hold onto expired dreams and goals! Give yourself freedom to be present and future focused, without unfinished business holding you down.

Cheers to personal and professional growth!

Image: Daniele Franchi on Unsplash

January 11, 2022by David Klemt David Klemt No Comments

Top 10 Bar Hacks Bonus Episodes: Goals

Top 10 Bar Hacks Bonus Episodes for Setting and Achieving Goals

by David Klemt

We’ve rounded up the ten best bonus episodes of Bar Hacks that feature KRG Hospitality president Doug Radkey offering goal-setting guidance.

Obviously, we all want to succeed. However, it’s not always obvious where we should start. This has been proven all the more true the past two years.

Doug has a way of cutting a path through the overwhelming noise and distractions operators face each day. The Bar Hacks bonus episodes below can help listeners take a deep breath, reset, and take the necessary steps to identify, measure, and achieve their 2022 goals.

Bonus #1: Strategic Clarity

Doug explains strategic clarity as the understanding of who we are, what we’re working toward, and how we’re going to get where we want to go. Click here to listen.

Bonus #3: Simplification

In this episode, Doug asks listeners a simple question: “Is your vision for your restaurant or bar’s systems complex or simplified?”

Bonus #4: Acceptance

We can’t really make achievable goals if we don’t understand the current situation we’re facing. In this bonus episode, Doug explains why it’s important to be able to accept change and differences.

Bonus #6: Decision Making

We make thousands of decisions every day, from the simple to the complex and everything in between. Doug shares his insights into clearly and confidently making decisions for your business. Click here to learn more.

Bonus #7: Innovative Leadership

What is innovative leadership? It’s confidence in your abilities and your team, knowing when to get out of the way, and the culmination of a few other key concepts. To listen, click here.

Bonus #9: Flexibility

For this bonus episode, Doug explains why success in this era of hospitality requires owning the entire guest journey, frictionless omni-channel experiences, and other elements of a flexible approach to business.

Bonus #12: Self Care

Doug shares his thoughts on one of the most crucial elements of operating a business in the hospitality industry. Hint: He’s not talking about menus, marketing or making money in this episode.

Bonus #13: Confidence

Do you think you have a growth-based mindset or a fixed mindset? Doug discusses confidence and the impact it has on your ability to lead effectively in Bar Hacks Bonus #13.

Bonus #14: Self Learning

Knowing that you don’t know it all opens up your world and makes you a better leader. Doug explains how seeking out knowledge, experiences and opportunities to learn makes you a better operator, keeps you sharp, helps you better relate to and mentor others, and improves your business in every way. Listen now!

Bonus #17: The Seven Cs

Doug explains each of the Seven Cs and how they’ll help you build a winning team. Without the right people on staff, you don’t have much of a chance to achieve your goals. Click here to listen to this important episode.

To listen to the first five bonus episodes in this list in one convenient episode, please click here for today’s Bar Hacks podcast episode. Cheers!

Image: Mikołaj on Unsplash

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January 7, 2022by David Klemt David Klemt No Comments

How to Achieve Your Goals in 2022

How to Achieve Your Goals in 2022

by Jennifer Radkey

The start of a new year for many is symbolic: Fresh year, fresh start.

With the best of intentions, millions of people worldwide create resolutions and set goals for both personal and professional growth and achievement. These goals are created with full enthusiasm and determination and then….the majority of them never come to fruition.

Studies have shown that approximately 80 percent of New Year’s resolutions fail. So what happens? And how can we push forward to achieve our goals instead of letting them slip away?

The majority of us know how to set clearly defined goals. It is something we learned in school, or have read countless articles about. It seems as if it is human nature to want to improve, to do better and be better.

In the hospitality industry, we ask our team members to set goals weekly, if not daily. Goals typically include improving guest retention, increasing sales, improving guest experience, etc.

But once these goals are set, what systems are in place to help your team achieve them? And are you leading by example?

Goal Setting

There are many techniques to goal setting. George Doran, Arthur Miller, and James Cunningham developed the very popular SMART goal tool to assist in developing clearly defined, task-oriented goals. They state that goals should be Specific, Measurable, Assignable, Realistic, and Time-specific (SMART).

Rhonda Byrne’s book, The Secret, discusses envisioning your goals and life desires to attract them to you. But goal achievement is more than just setting a clear goal, or dreaming about what it would be like to achieve that goal. Those are the starting points.

Goal achievement is a process. It can be nitty and gritty and tough. There is typically no easy way. However, there are strategies we can use to help us achieve them, and the result will almost always be worth the extra effort.

Why We Fail

There are countless reasons why goals or resolutions fail, but the reasons mostly fall under two categories: You either lose your willpower or your waypower.

The concepts of willpower and waypower in relation to goal achievement is introduced in Rick Snyder’s Hope Theory, explained is his book The Psychology of Hope: You Can Get There From Here.

Willpower is the desire to achieve your goal; it’s the fire that pushes us to keep going after what we want. Waypower is the map for how we will get to our end goal; it’s the careful plan we have in place to ensure we overcome any obstacles that get in our way.

When we lack willpower our goal seems unachievable, and therefore we give up. When we lack waypower, as badly as we may want to achieve our goal, we are lost with no clear idea of how to get there.

How to Succeed

Finding Your Willpower

If you have lost your willpower, there are several ways to reignite your desire to achieve your goal.

The first is to have constant reminders of your goal. Have it written somewhere where you will have access to it several times a day. Set reminders on your phone, put sticky notes around your office or house, create a vision board representing your goal as your screensaver or on a wall in your home or office.

Remind yourself of why you set the goal in the first place and how it will make your life better.

Many of us lose our willpower when faced with obstacles. Instead of being deflated by obstacles, look at them as challenges to be defeated. Use obstacles as fuel for your fire rather than water to dampen it.

When faced with obstacles it is also helpful to remind yourself of goals that you have achieved in the past and the obstacles you had to overcome to get there. Remembering this time will allow you to acknowledge that you ARE capable and therefore will keep your willpower intact.

Finding your Waypower

Life is busy, and when you are being pulled in many directions at the same time it can be easy to lose your way towards achieving your goals. To ensure that you stay on the path towards goal completion, there are several actions you can take.

Try breaking long-range goals into smaller steps. Start with the first step, and move on to the next, checking off and celebrating each step as you go.

Before you even begin your journey towards goal completion, map out different routes you may need to get there. Knowing these routes beforehand will make it easier to stay focused along the way.

Lastly, know when to ask for help—and be willing to accept it. If you get lost on your way to your goal, perhaps you need some advice from someone who has already achieved that goal.

WOOP

One of my favorite goal achievement strategies is WOOP, created by Gabriele Oettingen. This acronym stands for Wish, Outcome, Obstacle, Plan.

WOOP is a straightforward and effective tool to use when setting goals, and has been practiced by everyone from elementary school students to CEOs of major corporations. Once practiced, WOOP can take less than five minutes of your time while providing great clarity.

The first step is to state your wish or goal clearly. Next, envision the outcome of achieving your goal. Take a couple minutes to really picture what it will look and feel like to achieve your goal.

You are then going to contrast that by thinking of what obstacles might block you from achieving your goal. It is important to note that these obstacles are internal not external.

We rarely have control over external obstacles but do have control over internal ones. What is it about you that will stop you from reaching your goal? Is it low self-esteem, laziness, doubt? Are you distracted easily?

Lastly, you are going to plan what to do when met with an obstacle by using “if/then” phrasing. For example, “If I am feeling lazy and want to have a Netflix marathon instead of working on my goal, then I will get off the couch, do ten jumping jacks, grab a drink of water, and start working on my goal.”

If you are interested in trying out the WOOP tool for goal setting/achievement you can visit www.woopmylife.org.

Own It

Goal setting and resolutions should not be a forced activity you do every new year, or birthday, or every Monday morning to start your week. Goal setting and achievement should be a constant, flowing activity that reaches into all parts of your life.

Through the use of strategies and consistent review, reassessment, and awareness, goals don’t need to be lost or given up on, unless that particular goal no longer serves a purpose to you.

Own your goals and take pride in your achievements. In the end, you will always be your number one advocate for your own growth.

So go get it! Cheers to professional and personal well-being!

Image: Justin Veenema on Unsplash

August 24, 2021by David Klemt David Klemt No Comments

Why Operators Need to Set Goals

Why Operators Need to Set Goals

by David Klemt

Something restauranteur Mike Bausch said during the 2021 International Pizza Expo caught my attention.

It stuck with me for a few days. Eventually, I had no choice but to write it down and share it with others.

“If you don’t have a goal,” Bausch said, “you just have a dream. And dreams are just fluff.”

Goals are Measurable

An operator’s goals don’t stop with realizing the vision of opening their business. Rather, that’s when setting goals starts.

Starting up a restaurant, bar, brewery, entertainment venue, hotel… Just getting to the point of opening the doors for the first time requires accomplishing multiple goals.

In fact, our Roadmap to Success identifies several steps—or goals—to achieve to open a startup.

But, hey, let’s say a person’s goal is to open a business. What’s next? Just running that business? That’s not much of a goal. It isn’t defined, it isn’t really measurable, and it won’t accomplish much.

There’s a reason KRG Hospitality offers coaching for operators after they’ve opened for business. Our work doesn’t end with the grand opening.

Similarly, “I want to make a bunch of money” also isn’t really a goal. That’s a result; goals are what help you achieve desired outcomes.

So, instead of writing down making money as a goal, come up with goals that will:

build social media followings;
recruit and retain top talent;
boost traffic on a slow night;
increase weekly revenue; and
decrease F&B costs.

Of course, those represent just a tiny handful of possible goals.

Goals Drive Forward Progress

Because goals are measurable, they help an operator and their business continue growing. So, when operators make goals, they’re working to ensure long-term viability.

Yes, building a bank account and setting one’s self up for retirement can be goals. But how does an operator achieve either of those goals?

They set and achieve the goals that will drive them toward those two personal accomplishments.

Also, in achieving a number of other, equally important goals, the business moves forward constantly. In essence, a restaurant or bar without goals is a listless ship floating in the doldrums.

An effective captain keeps wind in the sails.

Goals Strengthen Teams

Sticking with the ship metaphor because it’s incredibly original and has never before been done, it needs a crew.

So, too, does a restaurant, bar, entertainment venue, or hotel.

Sure, the basic goal of an employee is making money. Generally speaking, that’s not enough of a goal to keep a team member engaged and loyal.

However, an operator being transparent about financial goals (for a particular shift, the week, the month, etc.) engages the team.

Likewise, an operator can (and should) inquire about employees’ individual goals. Then, they should come up with mutually beneficial ways to help accomplish those goals.

Clearly, those are just two examples of how operators can include their teams in the goal-setting process.

The keys to setting goals are:

make sure they’re clear;
ensure they’re achievable;
be certain they’re measurable;
when relevant, be transparent about the results with the team;
learn from failures or sub-optimum results; and
celebrate wins.

And then, of course, set new goals.

So, are you a dreamer or are you a visionary: a dreamer and a doer?

Image: Afif Kusuma on Unsplash