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Trimming the fat to find the true love of business - profit!

Driving past a First Watch restaurant the other day, I was prompted to place a call to Rayno Seaser, founder (along with his wife Patty) of The Egg & I restaurants - which had recently rebranded to become First Watch locations.  First Watch had acquired The Egg & I back in 2015, but only recently changed names for most Colorado locations. We had a great chat, catching up on recent travels and holiday activities, and agreeing we must breakfast together soon.  

 

After our conversation, I was reminded of something he’d told me more than a decade before, when he was on the bank’s Advisory Board and I was his banker on some projects.  He’d told me that recessions were helpful during his journey, because they forced you to trim the fat to remain profitable. When things were good, he went on to explain, the business gets fat and happy - and even though sales are better than ever, profits sometimes tend to slip as costs creep...

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How Do You Build Your 2020 Vision?

Can’t stay away from the obvious pun in the title, but the turning of the calendar to a new decade only happens once every few years!  It seems the years go by faster and faster the older I (we) get. The 80’s lasted forever! - or maybe it only felt that way because of the big hair and funny outfits.  At the end of the 80’s though, they represented over 70% of my living years, and 90% of my years being slightly aware of what was going on - if that’s even true today. So, that passage of time - a decade - that seemed so long in my youth, went so fast this time around, in part because it represents so much less of my total experience.   

But then I take a think-back.  Writing is thinking, they say, and now I’ve got me thinking about where I was in January of 2010.  If memory serves, I was the Acting President of Capital West National Bank at this time, which is a fancy way of saying you’ve got the same salary as when you...

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