The subject line references a book by Douglas Adams: the second in his Hitchhikers Guide to the Galaxy trilogy.

We’ve been out here in the countryside for over a year now, in the woods, not far from a small town. Quality restaurants are few and far between, if not basically non-existent, compared to the NYC restaurants to which we are accustomed.

We were doing errands a few years back and stopped for lunch at a restaurant right next door to one of the shops we’d visited. The décor was very ‘50s, and they did have a salad bar, which we took as a good sign, so we agreed to be seated. There was ‘50s and maybe early ’60s memorabilia everywhere, including in the salad bar, which offered up iceberg lettuce, onions, canned olives and what appeared to be cucumber and tomato slices. The latter two were the appropriate colors and shapes for said vegetables, so we’re assuming that that’s what they were. As for the lunch itself: all the vegetables came out of cans. In the middle of summer, in the midst of farm country, and where farm stands abound. Next, or as Oscar Wilde said, “Once is an experiment; twice is a perversion.” We never returned to that establishment.

 

While doing our errands this past week, we notice that the restaurant had changed ownership/pivoted. There was a big sign posted near it, visible from the highway (Go to Market Strategy). It now served Asian cuisine – Chinese, Japanese, and Thai – and we decided to check it out. The décor was the same: the ‘50s and 60s (American, we might add) memorabilia had survived the transition, although the salad bar had been pressed into service to accommodate the sushi chef, and there was a small dragon statue somewhere near the cash register. Same ‘50s wall décor – Coke 5 cents and the like – rather than the more Asian-inspired wall hangings you’d see in such restaurants in the city. Meaning, New York. Although the food was New York quality, and the vegetables fresh, for a change and dishes…authentically Asian. With all due respect to Oscar Wilde, not only will we return: we were far from being the only patrons in the room. Product/Market fit.

We’re sure that they did not choose this location arbitrarily. They did their diligence – and captured data. There was a traffic light a few yards away, meaning entering and exiting would not be difficult. People from several major cities had moved into the area and would likely gravitate to a restaurant which served cuisine at the standards to which they were accustomed. And there was neither a Thai nor Japanese restaurant within at least 20 miles of this spot. Then there are the specials of the day. What are people literally biting? Which dishes stay and which will be replaced? Restaurants collect data, too. Data is the new black.

 

When you’re working on your investor deck – which is a great exercise to go through, whether you plan on pitching investors or not, as it will help you to clarify your business, competitive landscape, potential market size, the financials, your team (and who’s missing), and your go-to-market strategy. The décor, meaning the underlying tech, is second to the offering/consumer or enterprise-facing components. Will it attract customers/clients? Will it keep them coming back? Focus on the elements that will inspire loyalty in your customers. This restaurant does have a competitor not far down the road, which also serves Asian food, but the quality isn’t nearly as good. The vegetables used in that restaurant’s dishes clearly come from cans or the freezer. Differentiator. And for us, a game-changer. In terms of your deck/business outline, the focus needs to always be on the benefits of the final product, which is what wins you customers, or possible investment.

 

Of course we were going to relate our restaurant experience example to clarify certain points for you entrepreneurs out there, and hopefully make it as simple to understand as possible. But you know us: we always a tip. Onward and forward.