Hey STIMIES! Welcome back to Part 2 of the So This Is My Why Podcast with Loh Lik Peng - CEO & Founder of Unlisted Collection.In Part 1, we covered Lik Peng’s journey from wanting to become a doctor (just like his parents) to becoming a commercial litigator and purchasing his first hotel property: Hotel 1929.The property that kickstarted his crazy career pivot. But the F&B industry is a tough place to be. You need a good dose of hard work, luck and… a talent for spotting F&B talent (which Lik Peng has!).In this episode, we dive into the intricacies of his international hospitality business, tackling questions like:  <ul><li>Why does he give equity to his chefs? </li><li>How does he identify and convince culinary talents like Rishi Naleendra to come on board?</li><li>How does he work together with the chefs to ensure that they have everything they need to build a thriving business?</li><li>How attaining a Michelin star flipped a switch within the chefs he works with</li><li>What are his thoughts on brand building?</li><li>When is it time to pull the plug? (His most painful failure was with One Leicester Square in London)</li><li>His big passion with museums; and </li><li>So much more</li></ul>If you haven’t heard Lik Peng’s origin story, listen to the previous STIMY Ep 140 Part 1 episode first. And if you have, then stick around for Part 2!Are you ready?Let’s go.Highlights:<ul><li>2:52 Lik Peng’s hands off approach</li><li>4:20 Discovering Rishi Naleendra & being a good spotter of F&B talent</li><li>5:51 Did Lik Peng conduct any due diligence on his potential talents?</li><li>6:56 Building the infrastructure for an F&B business</li><li>8:20 “I didn’t understand what P&L was before. If I knew, I would’ve never said yes.”</li><li>9:06 Keep an eye on the numbers!</li><li>10:12 Winning a Michelin star flipped a star switch…</li><li>11:18 When are chefs ready to strike out on their own?</li><li>12:05 Brand building</li><li>13:30 Overcoming moments of blind panic</li><li>14:46 When do you let go?</li><li>15:33 Biggest failure </li><li>17:57 Passion for museums</li><li>21:30 Do you still identify as a lawyer?</li><li>21:43 Which pivot was the easiest and why?</li><li>24:01 Finding your second & third act in your career</li><li>25:14 What book are you reading now?</li><li>25:14 Art of finding the right talent</li><li>27:00 Any non-compete clause?</li><li>27:38 Three key things that you’d attribute your success to</li><li>30:14 One COVID casualty</li><li>31:23 Luck</li></ul>📍Show notes:<a href="https://www.sothisismywhy.com/140" rel="nofollow"> https://www.sothisismywhy.com/140</a> 🍿 YouTube:<a href="https://youtu.be/w22CAJupO48" rel="nofollow"> https://youtu.be/w22CAJupO48</a> 💌 Weekly STIMY Newsletter on the art of storytelling &#43; building your personal brand (&#43;snippets of STIMY behind-the-scenes):<a href="https://sothisismywhy.ck.page/acd5bd1062" rel="nofollow"> https://sothisismywhy.ck.page/acd5bd1062</a>✍🏻 Leave a review on STIMY:<a href="https://podcasts.apple.com/gb/podcast/so-this-is-my-why/id1521191442" rel="nofollow"> https://podcasts.apple.com/gb/podcast/so-this-is-my-why/id1521191442</a>

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Ep 140.2: The Secret to Picking F&B Winners & Winning Michelin Stars | Loh Lik Peng (Founder & CEO, Unlisted Collection)

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