Sean Feeney - Reinventing the Restaurant Business - [Invest Like the Best, CLASSICS]
Timestamps are as accurate as they can be but may be slightly off. We encourage you to listen to the full context.
Podcast Summary
In this captivating episode, Sean Feeney shares his remarkable transformation from Wall Street bond trader to owner of NYC's most coveted restaurants. After befriending Michelin-starred chef Missy Robbins in his apartment building (04:04), Sean pursued an audacious partnership that began with four months of daily rejections (12:06). His journey reveals how applying financial discipline to hospitality—from percentage-based rent deals (22:07) to the "perfect turn" dining framework (51:15)—created restaurants with thousands on waitlists. Sean explores the power of authentic community building, from Feeny's neighborhood trash can initiative to hiring local high school students (76:49), demonstrating how businesses can become integral to their communities while maintaining extraordinary profitability and impact.
Speakers
Sean Feeney
Co-founder of Grove House Hospitality Group and owner of Lilia and Missy, two of New York City's most sought-after restaurants. Former high yield bond trader at Anchorage Capital who left finance in 2013 to partner with Michelin star chef Missy Robbins, revolutionizing restaurant operations through his finance background.
Patrick O'Shaughnessy (Host)
CEO of Positive Sum, host of Invest Like the Best podcast. This episode is from his "Classic" series featuring favorite conversations from the past decade, focusing on n-of-one people with exceptional stories and unconventional thinking.
Key Takeaways
Turn "It's Always Been Done This Way" into Your Innovation Blueprint
Every time someone responds with "this is just the way it is," recognize it as a flag marking unexplored opportunity. (18:45) When Sean questioned restaurant rent structures and was met with traditional responses, he created percentage-based rent deals that protected his business during COVID while aligning incentives with landlords. The phrase signals people have stopped searching for better ideas—exactly where your competitive advantage lives.
Build Your Perfect Turn Framework
Map every touchpoint of your customer experience and optimize for satisfaction, not just speed. Sean surveyed 500 customers to discover the perfect restaurant turn: drinks within 5 minutes, orders placed in 15 minutes, dessert menu signals the 20-minute exit window. (50:15) This framework doubled as operational excellence and team coaching—showing exactly where to focus energy for maximum impact.
Marry Art and Commerce Through Relentless Simplicity
The most important ingredient is the one left out. Create businesses where creativity thrives within financial discipline—20% EBITDA targets gave Sean's chefs the biggest blank canvas to paint on without compromising artistic vision. (19:35) When you nail this balance, you never have to add a cheeseburger to your Italian menu for safety.
Scale Genius, Don't Chase Customers
Build brands so compelling that 5,000+ people willingly join waitlists every night. (25:47) Sean learned from Kith and Supreme that scarcity creates obsession when executed with authentic storytelling and consistent quality. Focus on making customers chase your brand rather than desperately chasing customers—this inverts the entire power dynamic of business growth.
Write Your Own Job Description by Solving Real Problems
Give talented people frameworks, not instructions, then watch them create roles that didn't exist before. Sean's host who quit six times became their content director by solving problems they didn't know they had. (99:32) The best business decisions happen when someone says "I want to do this" rather than when you assign predetermined tasks.
Statistics & Facts
No specific statistics were provided in this episode.
