Study Hall: Why One Great Employee Equals Two Regular Workers - podcast episode cover

Study Hall: Why One Great Employee Equals Two Regular Workers

Jul 28, 202315 min
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Episode description

In this insightful clip, we dive into an engaging discussion with Larry Morrow, exploring the concept of 'Unleashing the Power of People.' We discuss why investing in one great employee can yield the productivity of two regular workers. 


Uncover the secret to cultivating an effective team and maximizing business growth. Don't miss out on these invaluable insights and advice from industry experts. Tune in now! #people #workers #boss


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Transcript

Speaker 1

An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J.

Speaker 2

Trump's leadership.

Speaker 1

I'm Christy nom the United States Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you are here illegally, your next you will be fined nearly one thousand dollars a day, imprisoned, and deported.

Speaker 2

You will never return.

Speaker 1

But if you register using our CBP home app and leave now, you could be allowed to return legally.

Speaker 2

Do what's right. Leave now.

Speaker 1

Under President Trump, America's laws, border and families will be protected.

Speaker 3

Sponsored by the United States Department of Homeland Security.

Speaker 4

Me and Troy were at a summit a few weeks ago in the Hamptons and he learned something that was very insightful. So they were saying that Netflix Netflix right. Netflix has an online manifest though that everybody should read, and it like outlines their company structure, and they were saying that they pay the most out of any streaming company, they pay their employees the most, and reason being it was like, the theory is that one good employee is

actually worth two people. So I'd rather pay you more than what other people will pay you because I'm actually saving money. And if you are, if you're an employer, you know how dangerous one bad employee can be and how valuable like one and good like they say, one good a few good men. One good employee can really change the direction of your whole entire company. So that's extremely important to always look at employees as an investment, is like, and especially when you start, it can be

kind of scary. It's like I don't even have enough money to, you know, really fund the business properly, Like how am I gonna pay somebody? But sometimes you have to take the leaf of faith because yeah, that one employee, if you're paying them fifty thousand or whatever, they could potentially bring in three hundred and fifty thousand for you.

So but I wanted to ask you a question in regards to what you had mentioned the hospitality, So what's your port for How many restaurants do you currently have right now?

Speaker 5

So currently I have Marrows, I have Monday, I have sun showing in the French Quarter. I have a Marrow State that's opening up in like two months downtown New Orleans. And I have a spot called Spicy Mango that's opening up on Frenchman Street.

Speaker 6

And a club.

Speaker 5

Oh yes, the club. So five restaurants, one club.

Speaker 6

Five restaurants, one club. Yeah, so very impressive, by the way.

Speaker 4

Congrats, because they're all different type of.

Speaker 5

Restaurants are different type. That's the hardest thing to talk about that. Well, so I'm creating different conds. I'm saying, like you know, of course that's the formula to to disaster essentially, because now you're trying to recreate a whole new situation. Like we're using the same blueprint for everything. We're doing same system, same everything, right, but you know, me creating different concepts. It's like I got to hire new selfs. I gotta find new people to come help

create this vision. So that's tough, and you know, that's just the route I'm going right now. But my ultimate goal, like you know, right now, we're working on Morrows h Houston for twenty twenty four, and it'll be easier to go create a new Morols versus create these new concepts. Because I got staff, I can move to Houston and you know, run it, you know, and who who know who know the system versus you know, going to create

a new concept, new menu, new SEFs and everything. But I'm learning that, you know what, Like we were just talking about like retention and just paying people more, you know, like you got to pay for good help. And that's what I've been doing. So we're not trying to get you know, at one point, like you know, I was a little cheaper and it was like yofford, I can't afford to pay that. But now I want to pay that.

Speaker 6

I want to I want to pay.

Speaker 5

For good help. I want to pay for good people because that's the only way I'm gonna be able to you know, have like be able to sleep at night and have any type of freedom. Just want to have good people, because if you don't have good people, I gotta you know, watch over everything they're doing. So you know, I'm building my foundation and whoever's part of that course, like when I grow, we grow, I mean when the

company grows, we all grow. It's not you're not You're not limited, so we driving may backs and Ferrari's like, you know, the goal is to get you know, of we living in houses. I want everybody to have the comfort of in this industry is not known to like people like are you crazy? Like why are you doing so much? You want to be stressed out. I'm not stressed, you know, I want everybody to have the quality of life. And in this industry, not everybody has the quality of

life because of the hours to take. And you know, the average manager in the restaurant isustry working in sixty seventy hours, right, that's a lot of hours. So if you got a family, kids, and you know, a personal life, like how can you maintain your personal life? So I'm like, you know what, we're going to build our company and you're making sure everybody can have the quality of life, not just the CEO or the people you know at the top, know everybody. So right now it's a lot

tough for everybody's playing more roles. But you know, right now we're all working together so that we can all make sure that everybody can, you know, be a part of this company, have freedom and make a good living and be happy.

Speaker 6

Yeah.

Speaker 7

I mean it's crazy because when Shotty was we talked about that next situation, the next thing. We looked at each other and said, wait, one good employees worth two, but in our community, like one is worth like five because they're doing so many multiple roles.

Speaker 6

I want to talk about the.

Speaker 7

Position that you're in from leasing these locations to ownership, right, because on top of it being a location, it's also a real estate play, right right, So talk about the strategy behind that.

Speaker 5

So I don't own every location I have, I'm also I'm in the process of buying some of them, some of them leasing.

Speaker 7

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Speaker 1

An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from El Salvador accused of murdering a Texas. Man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J.

Speaker 2

Trump's leadership. I'm Christy Noman, the.

Speaker 1

United States Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you are here illegally, your next you will be fine nearly one thousand dollars a day, imprisoned and.

Speaker 2

Deported, you will never return.

Speaker 1

But if you register using our CBP home app and leave now, you could be allowed.

Speaker 2

To return legally. Do what's right. Leave now.

Speaker 1

Under President Trump, America's laws, border and families will.

Speaker 3

Be protected sponsored by the United States Department of Homeland Security.

Speaker 5

But I think it just depends on the location the lease. You know, Tim and Fatida, you know, one of the lawest restaurants.

Speaker 6

Tools in the world.

Speaker 5

He says, okay to lease, you know, like like some buildings you just got to lease, you know, because it's not worth what the you know is not worthy to buy. So Catch Hospitality. You know, I've been since seen some of their spaces, you know, like the amount of money paying at least you would be like, what the hell I never knew at least could be designed. Yeah, they told me, Like you know, I was out there Regional

Catch Hospitality in New York. I spent five days out there and they opened buckled me with open arms, created a whole legenda just to walk me through that process, to show me a young aspiring restaurant tour.

Speaker 7

You know my kids I left that is to Eugene shouts, they are probably there right now.

Speaker 6

He catches my, La, La, what'd you learn from Catch?

Speaker 3

Oh?

Speaker 6

So quick, quick start.

Speaker 5

I was in La been to Catch twenty seventeen, went with a friend and I was saying, like I want I want Morrows to be to catch the South. This is when I was about to open up Morrows. Right fast forward, you know, but six years later, you know, I'm sitting down and meetings with Eugene and his team. You know they recently sold their company for one hundred million dollars and you know, just being able to see that.

But I've learned so much. I've learned just even like how leadership just being just like watching them operate leadership, and how to control just your percentages, and just how starting to shift off for the pre shift. Something as simple as a precift can help save a lot of problems throughout the day, you know, doing cups up before the shift starts. What's appreciate appreciate if is just like a meeting before the shift, right, a meeting that basically sets the tone for.

Speaker 7

The day, saying that's like when everybody gets in the huddle.

Speaker 6

Man, no, listen, listen.

Speaker 5

I came back like I was like, yo, no sitting down pre shift, Let's huddle up. It's almost like you about to call a play. Let's huddle up and let's have a quick meeting. Right. And it was so impactful that one of my services DM me, she was like, oh my gosh, appreciate was so amazing. It really motivated me and it inspired the staff and helped us have a better day. But one thing I preached to my staff is like, you know, like I don't want nobody to be with me being an employee of Mind forever.

If there's a way I can help or knowledge, I can, you know, pass down because a lot of people are like you know, my age and people who are from New Orleans, part of the community, and got a lot of questions and I'm here to answer those questions. But I think you know, one of my young man that works for me, he was like, Yo, how can I learn from you?

Speaker 3

And my words?

Speaker 5

My response was, I said, stay close because because I invite you know, all them, like they go they work at the spot, but then they come to Treehouse. They're free bottles whatever they want. Like I make sure my staff have a good time if they want to go out whatever. But like you know, stay close. I'm available, Like you know, I'm honestly too available at times because I'm in every group message, I'm in every conversation, you

know when I don't have to be. But I'm a part of you know, everything that's going on because I care about it. And you know, I wouldn't be able to build what I'm building without people who believe in me. And just even you know, whether it's a server busser chef. You know, Ed shout out to Ed. You know, he's been with us since day won. One of our executive chefs said, Moros, you know, he's been a big help. And them believing in me and me believing in them has helped.

Speaker 6

It's just what's the cups up? You said? The cups up? The cups up.

Speaker 5

So it's like basically like when I went out there, there was trying every dish before they open, right, because you can identify what's just off right. And it's something as simple as that. So all right, cool, we need to cups up twenty minutes before the doors open up. Whatever it's not right, either eighty six it meaning get.

Speaker 6

Rid of it or you know it, fix it like it tastes testing.

Speaker 5

It tastes testing, right, So just something as simple as that would just help change what your day look like because you're gonna save on food costs, things getting sent back. You're gonna save in a bunch of different ways. And like I said, it's low profit margins. You know, like the restaurant industry mistakes, right, but you can if you manage it properly. But the restaurant industry is one of those things that it can make you successful if you utilize it properly. Cash flow it can help you go

acquire real estate, it can help you acquire things. You know, help with my p and ls. At the end of the year, like the bang look at my p and ls and they see how much cash flaw I got, and it's like it makes it easier when I go acquire, when I go acquire whatever house, whatever state. It's just helped. So that's how a lot of restaurant tours and people

in this industry are. Anybody with cash flow. If you got cash flow and you stand on top of your p and ls and you can show, you know, you could you could show, you know, to bank your numbers, it's like it help you to go acquire things.

Speaker 3

You know.

Speaker 5

So then that's another thing I use it for because it's like it's helping build make me a stronger person company to just have a nice cash flow and be able to look at things differently.

Speaker 3

You know.

Speaker 1

An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christineoman, the United States Secretary

of Home Land Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you are here illegally, your next you will be fine nearly one thousand dollars a day, imprisoned and deported.

Speaker 2

You will never return.

Speaker 1

But if you register using our CBP home app and leave now, you could be allowed to return legally.

Speaker 2

Do what's right. Leave now.

Speaker 1

Under President Trump, America's laws, border and families.

Speaker 2

Will be protected.

Speaker 3

Sponsored by the United States Department of Homeland Security.

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