I recently went one-on-one with Simon Kim, founder and CEO of Gracious Hospitality Management, the company behind COTE Korean Steakhouse, COQODAQ, COTE 550, and Bar Chimera.
Adam: Thanks again for taking the time to share your advice. First things first, though, I am sure readers would love to learn more about you. How did you get here? What experiences, failures, setbacks, or challenges have been most instrumental to your growth?
Simon: My journey is reflective of many immigrant experiences in America. I came to the United States at 13-years-old. If I had two words to describe how I got here, I would say grit and resilience. My hospitality career started when I helped at my mother’s restaurant, Kori, where I would work after school as a busboy. At the time, I didn’t think hospitality was going to be my career; it was purely about pitching in and helping my mom, which I think is a common thing many immigrant families can relate to. I initially studied finance at Baruch College, but I realized that wasn’t quite for me. I then went to study Hotel Administration at the University of Nevada, Las Vegas. My first job was as a front desk agent at the MGM Grand. I eventually worked my way up to becoming the manager of the hotel’s Japanese restaurant, Shibuya. I returned to New York after a couple of years in Las Vegas, and I was fortunate enough to work with culinary legends who are still my mentors. I worked for Jean-Georges Vongerichten and also Thomas Keller. From those experiences, I learned about refinement, diligence, consistency, and intentional hospitality.
At 31, I opened Piora in the West Village. The restaurant was an Italian-Korean concept which earned a Michelin star. It received a lot of critical acclaim, but it was not financially stable. After 18 months, the restaurant was bleeding money, and I was in debt. What I learned from that experience, which has shaped how I approach my work now, is that acclaim does not always equal sustainability. I learned that a restaurant needs iron-clad financial goals and a business model that can weather the incredibly tough restaurant industry. When I created COTE, I applied my learnings from Piora to ensure that we had high-volume appeal and precise business metrics to be commercially successful while we also focused on incredible quality and hospitality.
The other key learning I had with Piora was that it helped me understand that my dual heritage – Korean and American – was not a barrier but rather my superpower. For a long time, I did not feel Korean enough with other Koreans, nor did I feel American enough with my American peers. What I learned, though, through Piroa was that being both was actually an advantage versus a disadvantage. My being Korean-American actually gave me a unique perspective as well as the freedom to be my authentic self, and that meant being both. This led me to the concept of COTE – which is a Korean steakhouse – elevating the traditional Korean barbecue concept through the lens of American steakhouse culture and European fine dining.
Adam: What is the most surprising thing about the restaurant business, and what are the keys to excelling?
Simon: Success requires balancing macro strategy with micro-feelings. You must never lose sight of the individual table experience. Whether you operate 20 seats or 20 large restaurants, focusing intensely on how each customer feels is the ultimate key to doing well. Mixing smart corporate strategy along with the micro focus on customer experience is the key to success.
Adam: How did you develop and validate your business idea? What advice do you have for others?
Simon: After Piora closed, I noticed a major gap in the market: Korean fine dining barely existed in the U.S. I wanted to elevate traditional Korean barbecue into a fine-dining experience while keeping it fun and accessible.
- My advice is to pay your dues. Working under great leaders provides the context and execution skills necessary to turn a good idea into reality.
- When evaluating an idea, ask yourself: Will this concept work without you personally in it? If yes, go all in.
- As a leader and an entrepreneur, you have to problem-solve all day. My advice is that you have to distill the problems to a simple, executable plan. simplify and distill problems into executable plans. For example, when COTE first opened, customers kept burning the meat. Instead of trying to teach them to cook better, we simplified the process by having our staff cook the meat for them.
- Finally, view limitations as opportunities; our newest restaurant is in the iconic Phillip Johnson building at 550 Madison. There is a basement space which most people would not want to convert to a restaurant, but I looked at it as an opportunity to create a highly desirable, immersive experience.
Adam: What key steps have you taken to grow your business?
Simon: Here are my keys:
Maintain optimism: I acknowledge risks but focus my energy on how to achieve our goals despite them.
Build the right team: Surrounding myself with talent allows me to step back and manage the big picture while still maintaining the freedom to zoom in on micro details when needed.
Stay authentic: Emulating others causes you to lose your way. I lost my North Star at Piora trying to mimic traditional Italian food. Staying true to your authentic story gives you the confidence to lead effectively.
Adam: What are your best tips on sales, marketing, and branding?
Simon: Authenticity is everything. You cannot market effectively if you do not know your own voice. Once defined, clearly communicate that brand voice to your investors, customers, and team. Your staff must connect with your vision and story in order to sell it.
Embrace the power of and. You don’t have to be just ONE thing. You can create a confident brand by embracing the duality of everything – whether it’s a mix of high-low ingredients or being a champion for your people while being a shrewd businessperson.
Execution: For an idea to be successful, you need to execute well. Ideas with poor execution will not result in success and therefore are just ideas, not great ideas.
Adam: What are the defining qualities of an effective leader?
Simon: An effective leader possesses insatiable curiosity and never stops learning. Without continuous personal growth, your leadership skills stagnate.
Adam: What is your best advice on building, leading, and managing teams?
Simon: For me personally, I don’t want to be the smartest person in the room. As my business grew, my role shifted to that of a generalist surrounded by deep specialists. Empowering experts is the most effective way to manage and scale a team.
Adam: What are your three best tips for leaders and entrepreneurs?
Simon: Trust your intuition. Listen to your gut and make decisions decisively. Sharpen your instincts by making mistakes early on. The more mistakes you make early on, the more you can sharpen your intuition, and each mistake will feel less heavy. I still love getting advice from other industry leaders, but I now view outside advice as a valuable perspective rather than a strict directive.
Execute with overwhelming force. Ideas don’t matter without action. Don’t waste time hesitating or wondering “what if.” Approach every project with an execution-first mentality and overwhelming focus.
Good communication is critical.
Adam: What is the single best piece of advice you have ever received?
Simon: To trust my instincts. It builds confidence and sharpens decisive decision-making. Even when your instinct is wrong, failure often teaches you more than success. This is advice I have received piecemeal over the years, and it still serves me well.
Adam: Is there anything else you would like to share?
Simon: Feed your curiosity aggressively to avoid complacency. Even though I have achieved success, I remain hungrier than ever to find new ways to deliver joy to our guests, growth opportunities for my team, and for me just to keep learning what’s next. Curiosity isn’t a destination; it’s a lifelong journey that keeps you motivated.
Lastly, never outpace your team. While founders must stay ambitious, you have to ensure your team is equipped for success. As you rev your engine, make sure the rest of the car is working seamlessly alongside you.
