Hospitality

Too many businesses don’t really understand that the core of their business is making people feel good. Whether it’s walking into a store or a restaurant, or being on an airplane, most people go through life hoping that good things will happen to them, and they return to businesses that make those things happen.

And while dropping off a full bottle of expensive booze at every table seemed like an unreasonably extravagant gesture, it was actually cost-effective. After an elaborate multicourse dinner (and usually plenty of wine), few people were interested in drinking more than a sip of that cognac. Yet the feeling of abundance was there.

Fine, you’re thinking, except that restaurants and real estate are filled with opportunities, unlike my business. I don’t buy it. There are inflection points—patterns—in every business. Look closely, and you’ll find them. And when you do, make sure you do something about it.

People often confuse hospitality with luxury, but I could have given that table a bottle of vintage Krug and a kilo of caviar, and it wouldn’t have had anywhere near the same impact. Luxury means just giving more; hospitality means being more thoughtful.