It used to be you went to the food, now the food comes to you. At major events you scan your peripheral vision and see 20 food truck options from right to left. Positioning imitates real estate, where the end caps do better, and a parking lot can emulate a restaurant district. Some people may … Continued
“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
This other day there was a meeting on my schedule, but instead of meeting with me, my colleague was meeting with the police. Our meeting had to be cancelled because the person I was going to meet was dealing with the fact that their long-time, right-hand person had been exposed for embezzling a considerable sum of money … Continued
Growth. It is the impetus of capitalism. So how do you know you are growing at the right pace? Every restaurant company we work with has a growth plan and a growth strategy. There is no one out there standing still that we know of. That is a function of the mind of the entrepreneur … Continued
I recently moderated a panel discussion entitled “Beyond Craig’s List: Finding and Keeping the Best People.” It was presented in Austin at the Summit for Texas Independent Restaurateurs, a conference created by the Texas Restaurant Association. A few months ago, I mentioned it to an editor of a national restaurant industry trade publication. He told me, “I’m so … Continued
“What is our company culture?” If you stopped five members of your organization today, would you get five different answers? Maybe something similar but, well, imprecise? Or, confused silence? What if you asked them to tell you what they did today to uphold that ethos? At the most successful businesses, you will get the same answer, … Continued
Management is not about doing things, it’s about growing people and leadership. If you call yourself a manager and you find yourself in the doing mode, stop. Julie Dickson, the managing director of Black Sombrero in Lismore, New South Wales, Australia recently wrote me. That’s right . . . she operates a “Taqueria and Tequilaria” in … Continued
If you want to increase profits and asset value, pay your people more. We all spend a lot of time thinking about employee retention, attracting great candidates, and providing good benefits. It’s vital to have a stable workforce that understands our culture and our systems, and that takes care of customers in the way we want … 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