Hospitality

If you’re selling an apartment to a couple having a baby, get a pack of those protective plastic outlet covers and leave them in a drawer with a little note: “You’ve got big adventures coming up, so I took this off your to-do list.” And because so many people move when they find out they’re expecting, keep a case of those outlet covers in your... See more

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.

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.