Yellow Tuxing a Steakhouse

"I want to open a steakhouse." This is what Joey told me as we began his job shadowing at our ballpark in Gastonia. Joey was attending early college at Gaston College. He was set to spend the morning with me and the staff. Frankly, he didn't know what he was getting into.

After getting a tour from our GM, I met Joey and began my typical deposition of someone new in our office.

I first asked him what he wanted to do in which he replied "own my own business."

This desire is becoming more common by the day. More and more young people want to work for themselves and "live the dream." The challenge is that most people don't know what it means to start and succeed with their own business.

Small businesses are still failing at alarming rates. The Bureau of Labor Statistics recently revealed that 50% of businesses fail within the first 5 years. Other studies have shown that 96% of businesses are failing within 10 years.

Plain and the simple, The odds are against you.

The reasons for failure are numerous. But one of the main reasons is differentiation and passion. I asked Joey why does he want to open a steakhouse and he said "I like steaks." I then prodded more, asking if he liked steaks or if he loved steaks. He shared that he loved steaks. He then told me a story about the first steak he ever had when he was in eighth grade.

I was starting to see the passion. But the differentiation was nowhere to be found. I asked about his plans and ideas for the steakhouse and he shared that he would look for a good location.

It was now time to start having fun with Joey. I asked questions to start getting him thinking about his idea. Questions like how often does he get steak now? What's holding him back for going more?

This is my take on the Mirror Moment which I share in my book Find Your Yellow Tux - How to Be Successful by Standing Out. The starting point for all businesses is what frustrates you about your industry? What frustrates your customers? What's holding your customers back from being raving fans?

These questions open up the whole idea of differentiation. It was simple. The costs of steaks and the time commitment was what was keeping Joey and potentially other customers from the love of steaks.

I asked Joey what if you could get your perfect steak in five minutes and it would be at a lower cost. He said that he would then go all the time. Bingo. 

I don't know if and how steaks could be prepared for quick service.  And I don't know how they can be produced at lower cost. But why not start there?

By looking at the friction points of your business you can then create the perfect experience for your customer.

Joey wanted to open another steakhouse where he'd compete every day with other steakhouses and people's perceptions of steakhouses. Even if it's a great steakhouse, it may not have mattered. (Outback Steakhouses Announces Closings)

Unless he made the whole concept different.

The only beats the best every time. 

In just a few minutes, with just a few questions we were able to "yellow tux" his steakhouse vision.

Don't just be "another," be the only. But it starts with asking the question, what makes you different. 

Get the Six Steps to Stand Out from the Find Your Yellow Tux Book for Free at www.findyouryellowtux.com