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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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