“The P&L is really not important here anymore.” There, I said it. Around the table were some confused and shocked faces. The best businesses are doing well, but they know they can do better. Having a predictable financial statement and a budget they meet or beat every period indicates they are in that stage. So … Continued
One of my clients leaned into a group of his colleagues where I was sitting at a roundtable recently. He peered over my shoulder, and said in a mock comic tone, “Somebody has drilled the importance of PPA into me.” I could not see his face, but I knew he was smiling. I smiled, too. … Continued
Right about now, most business owners are reviewing their financials for 2014 and taking stock of success for last year and opportunities for 2015. But assumptions about what happened last year may be flat out wrong. What really happened? What are the facts behind the numbers that will dictate management activity to truly increase results and the … Continued
Rockwall High School won this year’s Texas ProStart Restaurant Management competition. Here are five reasons why: They used humor and enthusiasm to portray their ideas. They were through, detailed, committed, thoughtful and comprehensive. They solved all aspects of a problem, not just one part. They established a clear protocol for problem solving. They were creative, … Continued
It is human nature to want to influence government in whatever direction you think would be best for you and the people you care about. What I have noticed is that whatever the government throws at business, sometimes beneficial, sometimes not, companies react and respond with intelligence and creativity to make the best of it. … Continued
Fundamentals may look like the boring stuff of business, but in fact they are the foundation for unique and special concepts that capture imaginations of diners and build wealth for their owners. Some companies do well because they are great at the fundamentals of business. Others prosper through the magic of branding and concepts, or … Continued
Your ideas are your greatest asset. It is called intellectual property for a reason — property you don’t want to give away. It’s important to control your own life and business, and have the confidence that you can find the resources to succeed. Trinity Groves is a real estate development owned by Phil Romano, Larry McGregor … Continued
It is great being an entrepreneur and business owner. But maybe not so great if your business demands your constant daily attention to detail and you realize you have bought yourself a job. The best business people take control of their lives, and never become victims of their businesses. Any profitable business can be arranged … Continued
The Affordable Care Act could be the greatest thing that ever happened to your business. Why? Because it will motivate you to grow revenue and profits in a way you have never been motivated before. You can use it as a catalyst to put yourself into action and make your business stronger than ever before. The … Continued
Maybe fewer people are going to Hawaii this summer, but they are still going out for a drink tomorrow night. And the next night. They have to have something to eat and something to wear, too. There’s opportunity to make money in any economy. James Jeffrey of the Austin Business Journal asked me about this … Continued