Key insights

• 💼 Shift from manufacturing to service economy, Service industry drives majority of GDP
• 🌟 Importance of hospitality in business success
• 🍽️ Will Guidara's experience as a restaurateur
• 🏨 Service vs. Hospitality: Service is the act of delivering, while hospitality is about making people feel good during the delivery.
• 🎯 The importance of hospitality: Regardless of the specific service or product, the way you make people feel will be what they remember most.
• 🔑 Unreasonable hospitality means prioritizing how you make people feel as much as the product you're selling
• ⏳ Building loyalty takes time and unreasonable hospitality is crucial.
• 🎁 Bespoke, personalized gestures are essential for great hospitality

Q&A

• Can you provide an example of personalized hospitality from the video?

  In the video, a guest's dad, who preferred Budweiser and steak, was made to feel more comfortable when the restaurant filled their champagne cart with Budweiser bottles. This example illustrates that people often remember how they are made to feel, more than the specific details of a service or product.

• Why is personalized, bespoke gestures key to great hospitality?

  Personalized, bespoke gestures are essential for great hospitality because hospitality is about making people feel seen and happy as unique individuals, and not like a commodity. This personalized approach is exemplified by the Dreamweaver Program at Eleven Madison Park, which focuses on countless little gestures.

• How can one build strong relationships through hospitality?

  Building strong relationships through hospitality involves being present, taking work seriously but yourself less seriously, and being proactively empathetic and thoughtful in interactions.

• What does 'unreasonable hospitality' mean?

  Unreasonable hospitality means being as relentless in making people feel good as in improving the product or service, indicating that the only lasting competitive advantage comes from consistently investing in relationships.

• What is the difference between service and hospitality?

  Service refers to the act of delivering, while hospitality is about making people feel good during the delivery. It emphasizes that regardless of the specific service or product, the way people feel will be what they remember most.

• What is the shift mentioned in the video?

  The shift is from a manufacturing-driven economy to a service-driven economy, where the service industry contributes the majority of the GDP.

• 00:00 In a service-driven economy, hospitality is key to success. Restaurateur Will Guidara emphasizes the importance of serving others in business.
• 00:52 Hospitality is about making people feel good while providing service. It's more important than the actual service itself.
• 01:55 Unreasonable hospitality means being as relentless in making people feel as you are in improving your product. Building strong relationships is the only lasting competitive advantage.
• 03:02 Building strong relationships through hospitality requires being present, taking what you do seriously but yourself less seriously, and being proactively empathetic and thoughtful.🤝
• 04:04 Hospitality is about making people feel seen and happy, not treating them like a commodity. One size fits all doesn't work; personalized, bespoke gestures are key to great hospitality. A program called Dreamweaver was created at Eleven Madison Park for countless little gestures.
• 05:05 A guest's dad prefers Budweiser and steak, so the restaurant filled their champagne cart with Budweiser bottles to make him feel more comfortable. The dad didn't remember the food, but he won't forget how the restaurant made him feel.