In the hospitality industry, there’s a growing need for leaders who can bring fresh perspectives and drive change, but such experienced and confident leaders can sometimes be difficult to find. Former business owners are a treasure trove of untapped potential, possessing a powerful combination of experience and unique skills that can significantly benefit hospitality organisations.

However, unconscious bias often clouds the judgement of hiring managers, preventing them from recognising the value that these professionals can bring to senior roles. Here’s why we believe the transition of former business owners into senior hospitality roles is an asset rather than a risk.

 

Untapped Potential: Unique Skills of Former Hospitality Business Owners

The journey of owning a business is an intense one, demanding a multifaceted skill set. Former business owners have a distinct set of skills that have been learned and honed through the demands of running their own enterprises. Here are just a few of the key areas where they excel.

Strategic Thinking and Vision

Building a successful business requires a clear vision and the ability to anticipate market trends and develop long-term strategies. These same skills are invaluable in senior hospitality roles, as they allow these individuals to navigate a competitive landscape, identify growth opportunities, and create strategic plans for your establishment.

Leadership and Team Management

Every business owner is a leader, responsible for motivating and guiding their team towards a common goal. They understand the importance of fostering a positive work environment, building trust, and delegating tasks effectively. This leadership translates seamlessly into managing hospitality teams, fostering a culture of excellence and employee engagement.

Financial Acumen

The lifeblood of any business is financial health. Former business owners understand essential financial concepts like budgeting, forecasting, cost control, and profit maximisation. This expertise allows them to make informed decisions about resource allocation, optimise operations for profitability, and contribute to your bottom line.

Problem-Solving and Adaptability

Entrepreneurs are adept at troubleshooting, coming up with innovative solutions, and pivoting their strategies in the face of challenges. This is a crucial asset in the hospitality industry as it allows them to tackle unexpected situations and ensure smooth day-to-day operations.

Marketing and Sales Savvy

Attracting and retaining customers is essential for any business. Former business owners understand the principles of marketing and sales, building a strong brand identity, and developing strategies to attract and retain customers. They can contribute fresh ideas for marketing campaigns, identify new customer segments, and ultimately drive revenue growth for your hospitality business.

 

The Entrepreneurial Mindset

An entrepreneurial spirit is more of an intangible asset that former business owners possess, but it’s vital when it comes to success. These individuals are passionate, driven, and have a strong work ethic. They’re also no stranger to taking ownership, exceeding expectations, and constantly seeking ways to improve. All of this translates into a senior leader who’s highly motivated, results-oriented, and continuously seeking to elevate the guest experience.

Hiring former business owners allows you to bring a spirit of innovation to the table. They’re often comfortable with taking calculated risks, exploring new ideas, and pushing boundaries to create a competitive edge. This is a must for any hospitality establishment looking to stay ahead of the curve and disrupt the status quo.

 

Addressing Unconscious Bias in Hiring

Despite the clear benefits, unconscious bias can prevent the hiring of former business owners for senior roles in hospitality. Common misconceptions include:

Concerns About Authority: There’s often a fear that former business owners may struggle to adapt to reporting to others, however, many former entrepreneurs are eager to contribute their expertise within a collaborative framework and value the opportunity to focus on their strengths without the burden of running an entire business.

Fear of Short-Term Commitment: Some hiring managers worry that ex-entrepreneurs may not be committed to a long-term role. In reality, many former business owners are seeking stability and the chance to apply their skills in a new context, providing them with a renewed sense of purpose and job satisfaction.

Perceived Overqualification: There is a bias that former business owners may be overqualified for senior roles in hospitality, but their broad skill set and experience can significantly boost the performance and strategic capabilities of the entire company.

 

Embracing Former Business Owners for Future Success

To maximise the potential of hiring former business owners for senior hospitality roles, it’s important to adopt a more inclusive and open-minded approach. Here’s how.

Recognise Transferable Skills

Focus on the transferable skills and experiences that former business owners bring, rather than their entrepreneurial background alone, and consider how their expertise can address specific needs within your business.

Provide Structured Onboarding

Offer a structured onboarding process that helps former business owners integrate smoothly into the corporate environment, ensuring they understand the company’s culture and expectations. You can download our industry-leading onboarding guide, here!

Foster a Collaborative Culture

Encourage a collaborative culture where former business owners can share their ideas and perspectives without feeling limited by any existing hierarchical structures.

Offer Continuous Development

Provide opportunities for continuous development and growth, allowing former business owners to expand their skill set and adapt to the unique demands of the hospitality industry.

 

Source Top Tier Talent with THE MONDAY GROUP

At THE MONDAY GROUP, we’ve seen first-hand the benefits the hospitality industry stands to gain from the unique skills and experiences of former business owners. By overcoming unconscious bias and embracing these professionals for senior roles, organisations can benefit from their leadership, innovation, and strategic vision.

When hiring for your next senior role, recognise the value of entrepreneurial experience and view the transition of former business owners into hospitality as an opportunity for growth and success. By doing so, you not only enrich your team with diverse talent but also pave the way for a more dynamic and resilient future.

If you need support finding talent, get in touch with us today. Our dedicated recruitment agency partners with events and hospitality organisations across Sydney, Melbourne, and Brisbane to connect them with skilled and experienced candidates who are the perfect fit—including talented and entrepreneurial former business owners.