EP.57. Risk, Failure, and Why Hospitality Needs More of Both
Failed to add items
Add to basket failed.
Add to wishlist failed.
Remove from wishlist failed.
Adding to library failed
Follow podcast failed
Unfollow podcast failed
EP.57. Risk, Failure, and Why Hospitality Needs More of Both
-
Narrated by:
-
By:
About this listen
Why are hoteliers so afraid of failure? And what does risk really mean in hospitality today?
In this bite-size episode of Hospitality Huddles, Scot Turner and Bal Mahey explore why risk aversion can hold hospitality back — and why measured risks, experimentation, and even failure are essential for progress.
Expect insights on:
- Why psychological fear stops leaders from trying new ideas
- How to define “measured risk” in hotel F&B and operations
- The danger of holding onto failing concepts for too long
- Why investing properly at the start matters for success
- The balance between giving projects enough time and knowing when to walk away
Chapters:
00:00 – Why are we scared of failure?
01:48 – Measured risks in hotels and F&B
02:39 – The psychology of fear and trying new things
03:33 – Taking risks at Auden: lessons learned
04:41 – Defining failure upfront and setting cut-off points
06:39 – Why you still need to invest properly to give ideas a chance
09:15 – The Mark Hotel hot dog stand: a case study in doing it right
10:04 – Trinity Outside: patience and persistence in risk-taking
11:35 – Key takeaways on risk and failure
13:20 – Balancing time, instinct, and experience
13:58 – Final reflections: don’t be scared, just try