Welcome to an inflationary time, where cash on hand not put to work becomes a depreciating asset. Back when the pandemic started, my first and most important question to all the operators I helped was: What is cash? At that horrible and scary time, instant clarity told me cash on hand would be the single most … Continued
Looking into 2022, the greatest thing top restaurant companies have going for them is that – after experiencing all those previously unimaginable things over the past two years – they have now figured out their strengths, identity, branding, and plans. The future now looks much clearer to them, even though the headlines can be distracting … Continued
Our strength was tested in 2021. Good news: We passed. One of the best coping mechanisms remains laughter. Above find my two favorite iconic pictures from 2021: The restaurant I drove by that put a hot-air balloon on the roof to attract talent, and The menu I found in my mailbox stamped with the … Continued
My clients’ activity over the next two weeks varies from taking time off with friends and family at home (or traveling), to going to a mostly empty office for some time to think – to spending mealtimes at their restaurants to greet and appreciate guests and staff. However you decide to spend special time, my … Continued
For the best operators and smartest people, 2022 looks like a back-to-operating like a normal person year. Sure, the noise of the next variant, inflation, labor, and supply chain issues – still audible. But we have evolved in handling once-unusual and once-unthinkable scenarios. I tell my clients “Prepare to have a planful and successful year” … Continued
Stop looking at PPA. Start focusing on recovering the lost guest and guest count. If you know me well, you may be shocked that I would suggest you ever stop talking about PPA – even for one minute (or one shift). Right now, though, top operators realize 2021’s industry gains have all come from increased menu prices … Continued
With today’s decreased labor pool and increased wages, most operators think the way to manage labor is to concentrate on the cost of that labor. They are wrong. Today’s top operators forget all about labor cost (for a while) and instead examine hours and productivity. With escalating rates of pay (and the corresponding menu price … Continued
When things run smoothly and predictably (remember that?), it’s easy to focus on doing things the right way. During a crisis, though – even as things become better toward the end – not so much. But, while my clients are focusing on different areas in 2022, they all have one thing in common: the goal … Continued
2021 sets up to be the ultimate “Gift Card Christmas.” Why? Supply chain issues, container ships sitting in the Pacific Ocean, and a shortage of computer chips, and truck drivers. If you do not already have a robust gift card program in place for the holiday season, put down whatever device you’re using to read … Continued
If you missed the workshop I conducted last week, “Beat the Labor Shortage – How to Attract and Retain Talent Without Breaking the Bank,” I’m sharing six key takeaways discovered by the diverse group of owners, operators, educators, and corporate team members who collaborated with me there. You’ve Got This: Every crisis seems insurmountable (think … Continued