『49 | Michael Balsamo - How to Stop Your Restaurant From Bleeding Cash』のカバーアート

49 | Michael Balsamo - How to Stop Your Restaurant From Bleeding Cash

49 | Michael Balsamo - How to Stop Your Restaurant From Bleeding Cash

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What if most restaurants fail for reasons that have almost nothing to do with the food? Half of them close, and last year nearly 10,000 shut down across America.In this episode, J. Michael Fischer Jr. sits down with Michael Balsamo, founder and CEO of The Sage Advisory Group, to unpack why. Michael grew up in his family's Italian restaurant on Long Island, worked every job from the dish pit to the dining room, and spent 25 years in the industry before building Sage to give independent owners the systems most never have. They get into the three forces every restaurant must manage, the pre-opening mistakes that sink first-time owners, and why trust, not money, is the new currency of business.Thin margins, scarce talent, and passion alone will not keep the lights on. Listen now.Timestamped Highlights[00:03:38] – Growing up behind the line in a family Italian restaurant that lasted 25 years[00:07:08] – Why he walked away from taking over his dad’s restaurant[00:10:01] – The number most owners never hear: how many restaurants quietly close every year[00:11:12] – The three forces every restaurant has to manage, and where most lose control[00:13:33] – The single biggest challenge the industry has faced since COVID[00:14:31] – The pre-opening trap that can flip your P&L upside down before you open[00:15:51] – The three kinds of owners who call Sage, and the best time to reach out[00:18:21] – What actually happens in the first two weeks of a restaurant checkup[00:23:57] – How to fix a struggling restaurant without scaring off your guests[00:25:33] – Why the new currency of business is trust, not money[00:27:42] – Hiring hard: the first move that decides whether your team stays[00:29:59] – The 4th of July mistake that taught him never to manage on impulse[00:33:10] – The habit that keeps him grounded after 25 years in a brutal business[00:35:28] – The small thing that felt like nothing and ended up changing everythingMentioned ResourcesFordham UniversityJohnson & Wales UniversityCon EdisonLenny’s Clam BarBR GuestBLT SteakRunning Your Restaurant With Intention (Michael Balsamo’s upcoming book, working title)About the GuestMichael Balsamo is the founder and CEO of The Sage Advisory Group, a hospitality advisory firm that works hands-on inside independent restaurants to build the financial and operational systems most owners have never had. He grew up in his family’s Italian restaurant on Long Island, earned his degree and MBA from Fordham University, and spent more than 25 years across the industry, from the dish pit to leading teams at respected New York restaurant groups, before founding Sage. He is currently writing a book on running a restaurant with intention.🔗 LinkedIn | WebsiteImportant LinksFeel Fully Alive: The 5 Dimensions of Vitality gives you the framework to thrive. Get your copy here.Stay Ahead in Business: Michael shares strategies to boost your financial decisions. Read his latest blog.Grow Your Wealth: Book a call with DBD Investment BankGoing Beyond the Deal is an original podcast brought to you by J. Michael Fischer Jr. Production and editing by Podcast Your Brand.
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