Building a restaurant and hospitality empire from the ground up doesn’t happen by accident—it’s the product of unwavering attention to detail complemented by a bold vision. That’s where Danny Meyer’s classic book comes in: Setting the Table: The Transforming Power of Hospitality in Business.

Restaurants have a notoriously high failure rate. By some estimates, more than half of new restaurants shutter before their fifth anniversary. When you’re a restaurateur, the odds are stacked against you—especially if you’re a novice. But what about the outliers? The mavens, the tastemakers who have the magic touch?

Enter Danny Meyer: St. Louis native, CEO of Union Square Hospitality Group, and founder of several restaurants including the beloved Shake Shack. At the age of 27, Meyer opened Union Square Cafe in New York City which became an instant hit. But he wanted to prove to himself that his success wasn’t a fluke–and it wasn’t. Today, Meyer has a portfolio of restaurants and is widely regarded as one of the most successful restaurateurs on the planet.

In his memoir-manifesto hybrid, Meyer illustrates the philosophy which he credits to his success: Enlightened Hospitality. “[Enlightened Hospitality] stands some more traditional business approaches on their head, but it’s the foundation of every business decision and every success we’ve had,” says Meyer.

Meyer’s writing is undeniably entertaining and intriguing, but what’s most impressive about the book is how easily it can be applied to industries outside of hospitality. Whether you’re managing a coffee shop or a publicly traded corporation, Meyer’s behind-the-scenes stories are guaranteed to equip you with priceless insights into leadership, creativity, and customer service.

At Hill Investment Group, we don’t limit our reading to books strictly about finance. In fact, some of the best Long View lessons we’ve learned come from stories completely unrelated to money. Now, thanks to Danny Meyer, we can add hospitality to that collection.

If you’re acquainted with our offices, you’ve likely noticed the rows of books lining the walls of our lobby. Some businesses adorn their offices with books to manufacture an aura of thoughtfulness or sagacity. But at Hill Investment Group, our book collection goes beyond optics.

For the past 14 years, continued education has been a pillar of our firm. By exposing our minds to a wide swath of insights and information, we’re equipped to deliver better experiences—and ultimately better outcomes—for our clients.

We encourage new employees and clients alike to dig into the books that have shaped HIG’s philosophy. This month, we’re highlighting The Coffeehouse Investor: How to Build Wealth, Ignore Wall Street, and Get On with Your Life by Bill Schultheis.

Like countless other evidence-based investing advocates, Schultheis’ conversion was sparked by a disenchantment with the active, Wall Street-style approach to investing that characterized his early career.

13 years after Schultheis saw the light, he wrote a book with a simple premise: Simplifying your investment strategy produces more wealth and more leisure time. The book doesn’t divulge any secrets, hacks, or inside scoops. In other words, it’s anti-viral. And yet, The Seattle Times dubbed it “The best investment book you’ve never read.” Even John Bogle, the father of index investing, urged people to act on its message.

“Exhaustive studies have shown that it is difficult, if not impossible, to ‘beat the market’ over the long haul. And yet that is exactly what Wall Street encourages you to do,” says Schultheis. “For serious investors, the question is not, ‘Can I beat the market?’, but rather, ‘How can I limit if not totally eliminate ‘underperformance’ of the market?’”

Though we don’t agree with Shultheis on everything, we love the simplicity of his maxim “Ignore Wall Street and get on with your life”.  If you’re ever overwhelmed by the flood of investment advice, The Coffeehouse Investor will bring you back down to earth.

Let us know what you think of The Coffeehouse Investor, and stay tuned for next month’s recommendation!

On June 6, 2005, Rick Hill and I inked a deal that changed the trajectory of our lives and eventually hundreds of others.

Over the course of a year, Rick and I met every Wednesday night and Saturday morning to discuss our plan to build a firm that was equal parts high touch and high performance. We called it our “island of idealism.” It may not have been the easiest path to bring that idea to fruition, but as I write this passage on our 14-year-old “island of idealism” at 7701 Forsyth Blvd., I can tell you it was worth every step.

Birthday celebrations often entail trips down memory lane—understandably so. It’s pleasant and comforting to reminisce about how much you’ve grown and achieved. But this year, I want to acknowledge Hill Investment Group’s birthday with a different twist: by looking forward instead of backward.

There’s new energy surging through our firm these days, due mainly to the excitement surrounding our group’s future. Our team, which was recently recognized by the St. Louis Business Journal as one of the best places to work, is growing stronger each day. Hillfolio, our initiative to deliver a better investing experience to a wider audience, is building impressive momentum. And most recently, the launch of our podcast* has given us a new opportunity to spread the word about the value of Taking the Long View.

Some subscribers might know about my reputation as a “relentless agitator” (or a relentless improver). When I was a kid, my mom would challenge me to go 24 hours without suggesting how we could do something better. I never made it longer than five minutes. Fast forward 30+ years and my mentality hasn’t changed a bit. So, if you’re wondering why I’m celebrating HIG’s birthday by looking ahead to 2020, now you know.

Don’t get me wrong—there’s a time and a place to pop the champagne, tell stories, and evaluate the past, but that isn’t the phase we are in today. We are working on the next chapter and how we will serve clients better. We are a competitive lot, which is why Hill Investment Group will never become complacent. We thank our clients, friends and centers of influence who follow this newsletter, for your continued support. And the only birthday present we want from you is your continued trust – because without that we wouldn’t have made it this far.

*Episode 3 features a conversation between Rick and me. Check it out by subscribing here.