Frederic joins us today to describe his journey as an entrepreneur in the hospitality industry. He explains how he became interested in hospitality and how he learned about the impact of management principles and culture on a business. He outlines what makes management companies successful and explains NMHM’s “co-worker first” policy. He also highlights what it takes to create a healthy environment where employees feel happy to work and underscores the value of fair wages and paying workers above the market average.
“People aren’t necessarily loyal to organizations—they’re loyal to people. When people know that you care more than just their performance at work, that builds loyalty.” – Frederic Heller
This week on Traversing Entrepreneurship
- Frederic’s background and journey in the hospitality industry
- The greatest thing about being an entrepreneur
- Eliminating middle management and why budgets should be a realistic working document
- Developing people from within and NMHM’s “happy at home, happy at work” culture
- Creating a culture that makes people happy to be at work
- The divorce rates among restaurant and hospitality professionals
- How Frederic has grown as an entrepreneur over the years
- Line-level labor challenges in the current economic climate
- Why people should dive into entrepreneurship as early as they can
Our Favorite Quotes
“You’re only as good as your worst employee.” – Derek Dall’Olmo
“Being friends with the employees is a relatively new train of thought. Other generations think there’s a line you don’t cross with your employees; work is work, life is life.” – Melissa Niedzielski
“Fair market wages are appropriate; trying to be cheap is the first way to unhappiness.” – Frederic Heller
Connect With Frederic Heller:
- Northern Michigan Hospitality Management
- Northern Michigan Hospitality Management on LinkedIn
- Frederic Heller on LinkedIn
About TreMonte and Traversing Entrepreneurship Podcast
Traversing Entrepreneurship is a show for and about business owners in Traverse City, Michigan and beyond. In each episode, co-hosts Derek Dall’Olmo and Melissa Niedzielski sit down with local business owners and the professionals who serve them to talk about business building, life, money, taxes, family — and all the ups and downs that come with doing something different. Join us to hear their stories and lessons learned — and to get inspired about what might be possible in your own business.
Derek and Melissa work together at TreMonte Financial Consultants, LLC and TreMonte TreMonte Tax Solutions, LLC. TreMonte works with business owners and entrepreneurs to develop a proactive tax strategy that maximizes after-tax profits. It is TreMonte’s goal to bridge the gap between Financial Advisors and Accountants by serving as CFO to their clients.
This show is for informational purposes only and should not be viewed as personalized financial, investment, tax, or legal advice. You should always consult an attorney or tax professional regarding your specific legal or tax situation.
Please email Derek Dall’Olmo at derek@tremontefinancial.com with questions and comments or to schedule a one-on-one conversation.
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