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Speaker unverified: evaluation

20 Mar 2020 Acquired Adapting Episode 1: Canlis

“Pretty quickly, we realized that it would be just as risky to do nothing as it would to do something really radical.”

— Speaker unverified

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Speaker
Speaker unverified
Attribution
Not verified from this transcript
Claim type
evaluation
Recorded
20 Mar 2020
Publisher
Acquired

Transcript context

…Let's get right into this show Adapting. It's now 70 years that your family has run Canlis fine dining, and in 2 weeks (really) since you started planning, you've thrown that out the window and now you're doing these 3 different things. When was the moment you realized that this was gonna happen and you needed to change? A couple of weeks ago now, my wife and I were in New York City doing something for the James Beard Awards. We got the news that Seattle had its first case. We went back to the hotel and just talking through like this thing's coming. It's here. It's here in Seattle. What does that mean? What does that mean for our family? What does it mean for not just our marriage and our own children, but our extended family? I have parents who are in their 70s. What does that mean for the restaurant family, for the staff? A couple of days later, back at home, we had a meeting as a team and we just said, "Guys, let's really think through this a little bit. While we were having that meeting, the King County governor or some official announced they had this live stream that came on and said, "Hey, this is a much bigger deal than we thought." At first, it’s like the sucker punch to the system. You've got the wind taken out of you a little bit. Pretty quickly, we realized that it would be just as risky to do nothing as it would to do something really radical. If we were going to live into our values every once a while, that really is probably going to cost you something and in this way, it was going to cost shutting down while we're still a profitable business for the unknown of opening up three new ones. The reason we're doing this is it took that many ideas to get all of my staff up to having all the hours that would have normally had and that was the goal here. We started with the drive-through. For those that don't know, we're a fine dining restaurant looking this direction, but if you turn around, we're on a really busy road, and that's not ideal. No one would plan it out these days. We just said what do we have? Starting with what do we have to be thankful for? What assets are at our disposal here if we started from scratch? And how would we play this? I remember watching the live stream, we're all huddled on the couch, there is the team, there are seven of us. In this meeting.…

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