Act III Holdings, LLC

Tatte Lexington is now officially open. We're thrilled to be in this lovely neighborhood with such a rich history. Congratulations to the entire new opening team. Come check us out! Tatte Bakery & Cafe #dreamteam #team #tatte

Enjoyed the chance to chat with Dr. Vikas Shah MBE DL for his latest edition of Thought Economics. We discussed the real challenges of #entrepreneurship, the importance of staying true to your mission, and the power of transformation in business. As I often say, building a successful company is about more than just financial returns—it's about creating value with purpose and leading with integrity.   For those interested in the nuances of #leadership, scaling businesses, and fostering a winning culture, I invite you to read the full interview. There’s no single formula for success, but understanding what truly matters is key.   Read more: https://lnkd.in/eVcbb_tb  

Level99 Entertainment is sometimes hard to describe. Check out this great drone tour for a first-hand look! Visit us at: 📍Natick, MA 📍Providence, RI 📍Tysons Corner, VA (coming 2025)

Our first quarter results at a glance 👀 p.s. you can get grilled steak in between your meetings starting on June 3 🥩

Enjoyed my recent conversation with David Meltzer for his podcast, The Playbook. Two fun details that we covered:   1) Make sure you can tell yourself the truth; talk about the 800-pound gorillas.   2) Don't wait until there are two outs in the ninth to assess life.   Listen to learn what I’m talking about: https://lnkd.in/eU37R7fZ   Thanks again to David! #Leadership #Transformation #KnowWhatMatters

So much fun with Boston’s finest tight end Gronk and Tao CEO Noah Tepperberg and our host Gary Vaynerchuk on his podcast with friends. Thanks for the thoughtful, wide-ranging discussion on all things personal and professional.

Many of you know my journey or have read about it in my book, #KnowWhatMatters.   But did you know that when we made a profit at the student-run “general store” I founded at Clark University, I wanted to take the profits and throw a Grateful Dead concert on the campus Green? Unfortunately, the money ended up in the scholarship fund.   Or that without the complementary skills of my long-term partner, Lou Kane, Au Bon Pain never would’ve succeeded. Louis never saw a real estate deal he didn’t think would work and I never saw a real estate deal I thought was good enough to do. Working together made each of us better and led to the success of the company.   Speaking of Au Bon Pain, can you believe I tossed and turned for a year and a half after I made the decision to sell Au Bon Pain and all our other divisions and bet the future of the company on Panera, and yet that decision ultimately enabled us to increase the value of the company nearly 100 fold?   And how about how those challenging, transformative years at Panera when activists attacked and I realized that though my vision for transformation was powerful and would undoubtedly work I might run out of time and never be able to finish it.   We covered it all and more, including lots on Act III Holdings, LLC and the booming CAVA, in the latest episode of Masters of Scale.   Thanks very much to Jeff Berman for this fun, winding conversation on my career in scaling businesses.   Listen to this episode on your favorite streaming platform: https://lnkd.in/eypXXSk7   #Transformation #Innovation #FastCasual #Restaurants #Podcast

Starbucks announced earnings last week, and unfortunately, significantly missed shareholder expectations. Naturally, the market reacted negatively. I no longer serve on the Starbucks board of directors, and I have had no formal role within the company since April 2023. But my love of the company and all those who wear “the cloth of the company”—the iconic green apron—knows no bounds. I, too, experienced some quarters of financial disappointment in my four-plus decades leading Starbucks. Ask any public-company ceo and they will tell you that “a miss” is virtually inevitable, even at the best-managed, fastest-growing firms. It’s not the miss that matters. It’s what comes next. What’s the diagnosis of the problem? What’s the impact on morale? And what’s the strategy to fix it? At any company that misses badly, there must be contrition and renewed focus and discipline on the core. Own the shortcoming without the slightest semblance of an excuse. There is a natural tendency to try to do too much too soon. Don’t try to do everything at once. Leaders must model both humility and confidence as they work to restore trust and increase performance across the organization. Starbucks will recover—of that, I am certain. Starbucks created an industry that did not exist. The brand is one of the most recognized and respected in the world. I am confident the China business will return to health and become the company’s largest market. The brand is incredibly resilient, but it’s clearly not business as usual. Over the past five days, I have been asked by people inside and outside the company for my thoughts on what should be done. I have emphasized that the company’s fix needs to begin at home: U.S. operations are the primary reason for the company’s fall from grace. The stores require a maniacal focus on the customer experience, through the eyes of a merchant. The answer does not lie in data, but in the stores. Senior leaders—including board members—need to spend more time with those who wear the green apron. One of their first actions should be to reinvent the mobile ordering and payment platform—which Starbucks pioneered—to once again make it the uplifting experience it was designed to be. The go-to-market strategy needs to be overhauled and elevated with coffee-forward innovation that inspires partners, and creates differentiation in the marketplace, reinforcing the company’s premium position. Through it all, focus on being experiential, not transactional. At Starbucks, culture is the currency of the company and its internal operating system. All roads at Starbucks—groundbreaking innovation, relentless execution, years of growth, and outsized financial performance and shareholder value—go through its culture.    There are no quick fixes. But the path forward should be what has guided the company over decades of financial success: Inspire your people, exceed the expectations of your customers, and let culture and servant leadership lead the way.

What a treat to sit down IN PERSON yesterday with old friends Carl Quintanilla and Sara Eisen on CNBC’s Money Movers to discuss consumer confidence and the current appetite (pun intended) for spending at restaurants. Yes, the macro environment shows consumers tightening spending amid rising costs, but they remain interested in healthy, fast casual dining options, and I believe CAVA has what it takes to win, regardless.   I also chatted with Carl and Sara about a key principle: Tech is important, but taste and humanity define success in the restaurant business. Speed of service matters, but what truly matters is connecting with consumers.   At Act III Holdings, LLC, our success lies in filling market gaps and connecting with consumers.   Check out the segment here: https://lnkd.in/ekFmtr_B   #KnowWhatMatters #Transformation #FastCasual