Do Business. Do Life. — The Financial Advisor Podcast — DBDL

099: Patric Yumul - Business Growth Secrets from a Michelin-Star Restaurateur

Jan 15, 2025

In this engaging discussion, Patric Yumul, co-founder of Mina Group and current CEO of TableOne Hospitality, shares insights from his journey in the fine dining world. He reveals how high-end restaurants create loyal customers through exceptional service, emphasizing its relevance to financial advisors. Patric introduces the idea of the 'Keystone Light' Effect, illustrating the power of personalized attention. He also discusses the vital link between health and business success, and stresses the importance of teamwork in both the restaurant and financial sectors.

01:01:56

Episode guests

Patric Yumul

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Episode notes

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Quick takeaways

Continuous staff training and engagement are crucial for success, enhancing the overall guest experience and boosting business reputation.

Exceptional service and personalized interactions can help financial advisors create lasting client relationships, similar to strategies used in high-end restaurants.

Addressing operational issues requires investigating root causes while fostering a culture of accountability, ensuring employees are equipped and motivated.

Deep dives

The Importance of Training Restaurant Teams

Continuous training and development of restaurant staff are essential for success, akin to how muscles require constant training to perform optimally. The speaker emphasizes that the moment training stops is when complacency and atrophy set in. By actively engaging and motivating staff, they become passionate about their work, which ultimately enhances the overall dining experience and boosts the restaurant's reputation. This approach led to transformative changes in previously underperforming establishments, turning losses into significant profits.

Intro

3min

Connecting Through CrossFit: Unexpected Relationships

3min

The Vital Link Between Health and Business Success

2min

From Busboy to Restaurateur

13min

Tensions and Teamwork in Fine Dining

19min

Maintaining Standards Through Constant Proactive Management

4min

The Art of Memorable Hospitality

19min

What do Michelin-starred restaurants and top financial advisory firms have in common? More than you might think.

In this episode, I’m talking with Patric Yumul, a hospitality industry leader who co-founded Mina Group with Chef Michael Mina, growing it from 4 restaurants to over 40 worldwide. Known for his expertise in fine dining, brand development, and team culture, Patric has built some of the most notable restaurant concepts in the industry. Now, as the CEO of TableOne Hospitality, he’s pioneering a fresh approach to hospitality, creating unforgettable guest experiences that keep customers coming back.

We explore the surprising parallels between the restaurant industry and financial services, from managing high-net-worth clients to differentiating in a crowded, commoditized market.

You learn all about the power of exceptional service—not just in restaurants, but in any business where client relationships matter (yes, that includes your advisory firm). Patric shares the exact strategies high-end restaurants use to turn first-time guests into lifelong patrons, and we explore how financial advisors can do the same by building trust, creating memorable interactions, and delivering next-level service.

The biggest insights from Patric Yumul …

The "Keystone Light" Effect: How a simple act of listening and personalized service at The French Laundry created a legendary guest experience—and how you can replicate this level of attentiveness in your own business

Why Relationships > Transactions: In a world where everything is commoditized, the best way to stand out is through hospitality—making clients feel valued, understood, and like VIPs at every interaction

The Power of Culture in Scaling a Business: Most businesses fail not because of bad products, but because of poor leadership and team culture. Patric explains how he transformed a failing restaurant losing $400K into a thriving business generating $600K by focusing on people first

Handling Poor Performers & Leadership Accountability: Patric stresses that when a team member underperforms, leaders must first look at themselves. Do they have the right tools, training, and expectations? If the issue is misalignment, it's on the leader to fix it. But if a team member lacks motivation, tough decisions need to be made.

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