May 2019

Recently I gave a presentation on leadership to a group of marketing students from the University of Central Florida. It’s always fascinating for me to see the energy level and inquisitiveness I encounter. I remember those days. 

But most of all, I am always tickled when I get THAT QUESTION…that question that makes you say to yourself “wow, you’ve been listening. That was pretty insightful. Good question.”  The question was “Since you worked on Procter & Gamble business for years, and more recently have worked with some major hospitality organizations, can you name three differences between the two industries?” 

Stumped me for a second, as I had to go back into the memory banks. 

But as I thought about the two very different types of organizations – one focused on selling products and the other selling experiences – I began to recall how financially driven Procter & Gamble is; financial performance was everything! That was their focus. Don’t get me wrong, I loved working on P&G business. The people were great. Smart. Dedicated. Great products. But financially and measurement driven.  

On the other hand, my take is that the hospitality sector would find P&G’s focus a bit odd. Metrics that the hospitality industry tend to focus on are guest satisfaction, safety, environmental impact, diversity/inclusion, and team member satisfaction. It would be rare for them to say their focus is financial performance. Not that they don’t care - they actually scrutinize the numbers just like every other business. But of critical importance is guest experience, particularly since word of mouth and repeat visitation plays such a large role in long-term growth.

What is your company’s focus?  What is it that makes it a success?

Joe Bouch
CEO, 78Madison

At the heart of 78Madison’s success are thousands of conversations, more shared cups of coffee than we can recall, and hundreds of real-life relationships resulting in fresh, compelling and collaborative marketing campaigns. If you are in Orlando/Altamonte Springs, Florida, stop by for a visit.