S2E86 - Trust First: How Qu Builds Long-Term Brand Success Today

About the Episode

In this episode of WISKing It All, host Angelo Esposito speaks with Niko Papadimitriou, co-founder of Qu POS, about his journey from finance to hospitality technology. They discuss the evolution of POS systems, the growth of Qu POS, and the importance of maintaining company culture during rapid expansion.

Niko shares insights on building a customer-focused sales team and the current trends in the fast casual and QSR industries. In this conversation, Niko Papademetriou and Angelo Esposito discuss the evolving landscape of the restaurant industry, focusing on the value equation for customers, the integration of AI and automation, the challenges of technology adoption, and the dynamics of employee turnover.

They emphasize the importance of tangible results from innovations and provide insights for hospitality entrepreneurs looking to navigate the complexities of the industry.

Takeaways

• Niko transitioned from finance to hospitality technology after a brief career in investment banking.
• He opened a restaurant at 26, which provided valuable lessons in business management.
• The main pain point in POS systems was data siloing and lack of cloud integration.
• Qu POS focuses on fast casual and QSR chains, avoiding full-service restaurants.
• Early decisions in the company's history shaped its current direction and partnerships.
• Maintaining company culture is crucial during rapid growth, focusing on cultural fit in hiring.
• Building trust with customers is essential for long-term success.
• Sales teams should prioritize genuine customer value over mere transactions.
• The restaurant industry is experiencing macroeconomic challenges, affecting pricing strategies.
• Niko emphasizes the importance of adaptability in a rapidly changing market. The dining experience is being reshaped by value-driven choices.
• AI and automation are crucial for improving restaurant operations.
• Tech adoption in restaurants faces unique challenges due to workforce size.
• Turnover rates in the restaurant industry can be misleading.
• Accepting help is vital for hospitality entrepreneurs.
• Edge technology is key for operational stability in restaurants.
• The restaurant industry is evolving rapidly with new innovations.
• Understanding employee dynamics is essential for consistent service.
• Big changes are necessary for the restaurant industry's future.
• Building a strong community around a brand enhances guest experience.

Timestamps

00:00 Building Trust, Success, and Partnership 05:33 Restaurant Tech and Data Integration 08:25 Evolution of POS Tablets 13:13 Early Partnership Decision Reflected 14:11 Platform Shift for Better Service 19:38 "Building Trust Beyond Transactions" 21:07 "Building Trust Through Engagement" 24:31 AI Transforming Restaurant Operations 29:29 Bridging Restaurant Innovation Challenges 33:33 Restaurant Labor Turnover Trends 34:45 "Dave's Hot Chicken: Low Turnover" 37:49 "Edge Architecture Innovations in Restaurants" 41:21 "Always Responding on LinkedIn"