This week’s guest is Marty Reichenthal, a savvy investor and entrepreneur. I had the opportunity to do a live event with Marty earlier this year, and I was very impressed with his content.
You have to be self-aware of how you affect the people around you and how they respond when you are in the room. That is critical of every leader
Marty has over 40 years of leadership and entrepreneurial experience. In 1993 he partnered with OSI partners to expand a family-owned restaurant called Carrabba’s and built 16 restaurants. After selling back his interests in 2003 he took a position a VP of Operations – overseeing more than 100 locations in 16 states.
In addition to many other business ventures, Marty purchased and developed 21 OrangeTheory Fitness locations over the span of 5 years. He recently sold a majority of the company to a private equity firm, and remains on the board of directors.
2:40 – History behind building his restaurant “management” acumen
6:10 – Debate of college vs. real world experience
9:50 – Brutalness of the restaurant industry
11:30 – How Marty got into food service industry
14:20 – McDonalds vs. Chick-Fil-A
18:05 – What makes Carrabba’s special
23:40 – Marty’s tailored approach to leading team members
26:50 – 3 factors Marty says every great leader possesses
32:10 – Example of accountability from Marty’s past
38:30 – Evolution of the Outback ownership groups vision
40:50 – Challenges of growth
46:50 – How Carrabbas broke through their stagnant period
51:10 – The difference between an ownership vs. job mindset
55:20 – Danger of holding onto preconceived notions of people
When I think about great leaders, they are all principle-based and very consistent in how they made decisions, they know how to deliver the accountability discussion when needed, and the build up an emotional bank account with their people