Flipping Opportunities for Hospitality

Published: 21st July, 2020

We don’t shy away from the hot topics of the day so here we are Flipping Opportunities for Hospitality. What must be the most dificult period ever for the Hospitaliy sector we ran a session to demonstrate the power of the collaborative conversation which, when focused through the Big Pic lens, can turnup some surprises, new thinking and ideas in a simulated dialogue that you could faciliate in your own business.

We had the pleasure of Michael Tinsager, long term Big Pic’er, to provide an insight from Hospitality and Bryce Biggs to provide a business model perspective.

 

 

Challenges for Hospitality

 

So straight down to business here are the kinds of Challenges the session identifed:

– What the current hiatus means for the selling of what can be a ‘passion’ business;

– The impacts of the furlough schemes that is currently propping the sector;

– The on-off nature of the ongoing pandemic and how to manage this;

– Working with landlords of the premises that are most likely empty;

– No-shows for bookings which now has a greater impact on the daily profit most likely loss;

– Getting colleagues back into the business when they are fearful of what awaits;

– How do we find replacement Customers particularly those that stay at a location? and

– Adapting ways of developing your people as the world of work around them has changed.

 

 

We looked at connections with these to ensure we had a better understanding of them. An example of bringing fear as a Challenge in the context of Operations, as for no-shows against the Customer Journey. By placing them in this way we begin see a shared purpose of insight and so the dialogue follows this clarification path using the board to reflect the responses to:

– What EXACTLY is that?

– Where EXACTLY does it live?

– What is it CONNECTED to?

 

This last prompt is moving the conversation on towards the Opportunity. The flow isn’t always direct and nor does it need to be. By introducing a prompt, with or without a symbols, encourages the kind of creativity the process requires to unblock the log jam.

 

 

Opportunities for Hospitality

 

Here are the kinds of Opportunities the session identifed:

– More creative ways of encouraging ways into the business;

– More creative ways of working with landlords as Partners than Supplier;

Specifically through connection with the Money symbol:

– Fluctuating, maybe dynamic, price tarifs at different times of the day;

– Paying up front like a ticket for an event as an antidote to no-shows;

– Compare with sports and the pay-per-view model. What does this mean for Hospitality?

Big Picture is a simple framework that brings out something really poweful

We didn’t have the time to fully expore this last one but it’s a great example of bringing in a tried and tested model from one sector and considering it it another. We made a start by recognising the element of experience for the sector and so the next step would be how an experience and pay-per-view can come together?! This is a conversation we need to continue. Talk about a thunk for a ‘what if ..’ followed by a ‘yes and ..’ conversation?!

Specifically through connection with the Technology symbol:

– Compare with the Argos-type model, with their enabling techology, to provide the product to Customers in a safe manner with pre-pay, good for cashflow, and a tried and tested infrastructure.

 

Making Connections for Hospitality

 

We didn’t have time for Measure, Customer specifically or Process but maybe you can imagine further connections if we had! If you do please let me know.

Please do watch the recording to understand these and others in context.

By identifying together, understanding connecions it makes the prioritisation of Opportunities all the more straightforward than what I often see as a complex and clumsy conversation.

 

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Find out more about our ‘Art of Business Development’ Workshop will be coming soon! The stuff we care about is all over our YouTube channel @YourBigPic. You can have a go yourself by printing and writing on the one-pager here for a business YOU care about. I would love to take you through a taster of Big Picture in a Webinar you can sign-up for here.

And thanks for reading!

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