5min chapter

#665: Danny Meyer, Founder of Shake Shack — How to Win, The Art of The Graceful “No,” Overcoming Setbacks, The 6 Traits of Exceptional People, The 4 Quadrants of Performance, Lessons from Hospitality Excellence, and More

The Tim Ferriss Show

notes

CHAPTER

The Four Quadrants of Hospitality Included Transition

Hospitality included at restaurants was a really tough thing to break, he says. The kind of people we hire are happier themselves when they do something that makes you feel good,. But that's no reason that they should be penalized relative to this marketplace in terms of how much money they can make. "We just couldn't make the math work and it just didn't seem right to tell our staff, stop."

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Transcript

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Danny Meyer (@dhmeyer) is the founder and chairman of Union Square Hospitality Group (USHG), which comprises some of New York’s most beloved and acclaimed restaurants, including Gramercy Tavern, The Modern, Maialino, and more. Danny and USHG also founded Shake Shack, the modern-day “roadside” burger restaurant, which became a public company in 2015.

Danny is the author of the New York Times bestseller Setting the Table, which articulates a set of signature business and life principles that translate to a wide range of industries. He is the recipient of the 2017 Julia Child Award and was named by Time magazine as one of 2015’s 100 most influential people. Danny and USHG’s restaurants and individuals together have won an unprecedented 28 James Beard Awards, including Outstanding Restaurateur in 2005.

Please enjoy!

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[05:21] The meaning behind Maialino.

[08:58] Control vs. surprises.

[10:53] A pivotal conversation.

[19:46] Converting the cranky.

[22:16] ABCD: Always be collecting dots; always be connecting dots.

[25:35] Danny's first steps to chefdom.

[31:06] Being paid the worst to learn from the best.

[34:56] How business is like gardening.

[40:37] A virtuous cycle of stakeholders.

[43:57] The politely genuine decline.

[49:47] Six qualities Danny looks for when hiring.

[56:07] Work ethic lessons from Theo Epstein.