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Fred LeFranc, Managing Partner and Co-founder, Results Thru Strategy – The Secret Ingredient: Spicing up your strategy to succeed in hospitality
Manage episode 420869849 series 3281544
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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)
Links:
Fred LeFranc on LinkedIn
Results Thru Strategy on LinkedIn
Results Thru Strategy Website
ICR Twitter
ICR LinkedIn
ICR Website
Feedback:
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.
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