What It Takes to Run a Restaurant in the Digital Economy
This story isn’t about starting a business, but refreshing a business and remaining relevant.
People are amazed when they hear that I am also a restaurant owner.
The reactions are always very positive. This is no surprise. Everyone loves to talk about restaurants and food. Wherever I give presentations, the conversation quickly turns to dishes, courses, and recipes as soon as the word “restaurant” comes out.
Owning and running a restaurant appears to be very appealing. Yes, people acknowledge that it’s not for everyone. And they are right. It can be exhausting and nerve-racking. But owning a restaurant can also be extremely satisfying and rewarding. The ever-increasing popularity of cooking shows and TV programs about restaurants helps feed people’s imagination and dreams, as well as their stomachs.
So last week, I gave a dinner presentation about the future of banks and fintech.
I was explaining the digitization of everything and the importance of platforms, data, and algorithms. I emphasized the need to respond to fast-changing customer demands. Banks better be ready for the digital economy. It was a serious conversation.
