Jon Taffer on Bars, Restaurants and Hotels on Lockdown (Podcast)

05/22/20 • 48 min

2 Listeners

Bloomberg Opinion columnist Barry Ritholtz speaks with Jonathan Taffer, an American entrepreneur and television personality. He is best known for creating the concept for NFL Sunday Ticket. He is also known as the host of the reality series “Bar Rescue” on the Paramount Network.

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Masters in Business - Jon Taffer on Bars, Restaurants and Hotels on Lockdown (Podcast)

Transcript Summary

In this engaging episode titled "Jon Taffer on Bars, Restaurants and Hotels on Lockdown," the speaker highlights the crucial role of fixing failing business owners as the first step toward fixing a failing business. Emphasizing self-accountability and eliminating excuses for failure, they draw on their experience in managing bars, restaurants, and hotels in the hospitality industry. The impact of COVID-19 on the restaurant industry is discussed, with caution advised for reopening and concerns about sustainability. Insights into the creation of the successful TV show Bar Rescue are revealed, while the speaker also shares their experiences in the Troubadour during the late seventies and their favorite shows on Netflix, Disney Plus, and Amazon Prime. Alongside valuable advice for recent college graduates interested in the hospitality or television industry, they stress the importance of loyalty, marketing, and supporting local restaurants during the lockdown. A thought-provoking conversation that offers valuable insights for businesses and individuals alike in the post-pandemic world.

Transcript

Speaker 100:00:02.200

This is Masters in Business with Barry Ridholts on Bloomberg Radio. This week on the podcast, I have a perfect guest to help us understand what is going on during lockdown with bars, restaurants and hotels and what we can do to finally get out of it. His name is John Taffer. He is perhaps known best for creating the NFL Sunday ticket, which you probably know today as Red Zone. He is the star and creator of Bar Rescue, a nightclub hall of fame in

Jon Taffer on Bars, Restaurants and Hotels on Lockdown (Podcast) Top Questions Answered

How can I fix a failing business?

Focusing on fixing the failing owner is crucial in fixing a failing business.

What is the biggest challenge in running a successful business?

The biggest challenge is creating an owner who knows how to be successful and has the desire to be successful.

What is the key to changing actions in business?

Changing the way people think is key to changing their actions.

How did the speaker contribute to NFL's Sunday Ticket?

The speaker had a role in the creation of NFL's Sunday Ticket, which revolutionized out-of-market sports programming.

Why did Bar Rescue become successful?

Bar Rescue became successful because it is real and authentic.

How has the COVID-19 pandemic affected the bar and restaurant industry?

The bar and restaurant industry has been decimated by the COVID-19 pandemic, and many establishments are struggling to survive.

What is the difference between sustaining and opening a business during the pandemic?

The difference between sustaining and opening is a concern, as government stimulus primarily helps sustain businesses but may not be sufficient for a successful reopening.

What book does the speaker recommend for understanding entrepreneurship?

The speaker recommends the book "The Myth Revisited" by Michael Gerber for understanding entrepreneurship.

How can I support local restaurants during the pandemic?

The speaker suggests supporting local restaurants during the pandemic by buying gift cards, ordering catering, and innovating with deconstructed cocktails.