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Member You - Work on Your Business, not in Your Business
When helping our clients sell their businesses, we get to witness buyer behavior first hand. The most important behavior is their economic vote – how much they are willing to pay for a business. Many factors go into their assessment of value, but a contractually recurring revenue stream is consistently the number one value driver.Why is this so important? The first answer is risk. Buying a business is risky. Any factor that reduces this risk is rewarded with transaction value. Fo
iii. Spend time and effort getting great people. Don’t just hire people to fill positions, hire the right people. If you can’t find them, keep looking. They’re out there.
iv. Once you get some decent, reliable staff who are selling and developing relationships with guests so they return, now you start to plan. Make a list of short and long term objectives you wish to meet.
v. Build a marketing plan based on said objectives.
vi. Execute, execute, execute.
Now that sounds too easy and I know I have simplified it
A lawyer helps people as well as businesses solve legal problems, understand rules and regulations, and ensure that the lives people lead are within the confines of law. Lawyers play many roles from arguing cases in court, to defending a person’s or nation’s right to freedom, and working with business houses handling their legal matters. This would mean knowing the laws of the land, being able to draft documents that will be upheld in any court, and advice people on their individual nee
The one reason...they are too busy working in their business, not on it. How can you possibly expect to have time to manage the store when you are running it? You’re bussing tables, working the bar, helping out in the kitchen. You’re running food, cashing out servers, making schedule changes, covering shifts and dealing with the phone. You’re making table visits; you’re even running an ad in the local paper. But you know what? It’s not enough. The definition of insanity is doing the same thing over and over and expecting a different result. If you spend everyday working in the business, it will not change. Trust me.
Stephen Covey in Seven Habits of Highly Effective People brilliantly explained the difference between Leadership and Management. It goes something like this….
Imagine yourself in the forest. You have a front line of staff who are swinging machetes, carving a path through the thick underbrush. Behind the staff stand the Managers. The Managers ensure that the staff are working as a team, are getting breaks, are using sharp machetes, and the managers administer first aid as it’s needed. They ensure the staff get massages as needed (preventative maintenance) and the schedule stays on time.Now the Leader is behind the Managers, but high atop the tallest tree. The Leader is shouting down, “A little to the left. That’s it you’re right on track.”
You see a Leader has the vision. The Leader is the one who knows where we are going and sees the big picture. The Leader has before her a plan of short-term and long-term goals. The Leader is not clearing the underbrush, but ensures the path through the underbrush is the correct one.
In the game we call “Restaurant”; the plan is your budget, your marketing plan, your one week, one month, one quarter, or one year objectives. Whether they are staff based, financial based, service based, kitchen/culinary based, or all of the above; they are objectives nonetheless.
Now if you tell me you don’t have any plans or objectives, that, my friend is your first mistake. The second would be not taking the time to meet them.
But you can’t get decent staff, you don’t feel comfortable leaving your supervisors in charge long enough to work on your business. If you don’t take the time to hire the right people and develop them and train them properly, you will never be able to get out of the “working in the business” stage.
Here’s what you do:
i. Develop policies and procedures for everything. Yes, everything.
ii. Train your staff on all your new policies and procedures. If they don’t like the “new you”, get people who do. Give them 30-40 hours of training. Work them for a shift in the kitchen, on the door, and the bar if they are a server. Train them to sell. Give them product knowledge and test them on it. Cross-train your kitchen staff.
iii. Spend time and effort getting great people. Don’t just hire people to fill positions, hire the right people. If you can’t find them, keep looking. They’re out there.
iv. Once you get some decent, reliable staff who are selling and developing relationships with guests so they return, now you start to plan. Make a list of short and long term objectives you wish to meet.
v. Build a marketing plan based on said objectives.
vi. Execute, execute, execute.
Now that sounds too easy and I know I have simplified it
Often there are times in business when corporate managers and executives need a little shake up and that means to shed the dead weight that is not up to the performance standards that are required to run the company efficiently. When this happens it is of the utmost important to get rid of those executives or corporate managers who cannot cut the mustard.If employees, executives or managers who are up to snuff, but perhaps not well liked are the ones that get the ax then this bec
Stephen Covey in Seven Habits of Highly Effective People brilliantly explained the difference between Leadership and Management. It goes something like this….
Imagine yourself in the forest. You have a front line of staff who are swinging machetes, carving a path through the thick underbrush. Behind the staff stand the Managers. The Managers ensure that the staff are working as a team, are getting breaks, are using sharp machetes, and the managers administer first aid as it’s needed. They ensure the staff get massages as needed (preventative maintenance) and the schedule stays on time.Now the Leader is behind the Managers, but high atop the tallest tree. The Leader is shouting down, “A little to the left. That’s it you’re right on track.”
You see a Leader has the vision. The Leader is the one who knows where we are going and sees the big picture. The Leader has before her a plan of short-term and long-term goals. The Leader is not clearing the underbrush, but ensures the path through the underbrush is the correct one.
In the game we call “Restaurant”; the plan is your budget, your marketing plan, your one week, one month, one quarter, or one year objectives. Whether they are staff based, financial based, service based, kitchen/culinary based, or all of the above; they are objectives nonetheless.
Now if you tell me you don’t have any plans or objectives, that, my friend is your first mistake. The second would be not taking the time to meet them.
But you can’t get decent staff, you don’t feel comfortable leaving your supervisors in charge long enough to work on your business. If you don’t take the time to hire the right people and develop them and train them properly, you will never be able to get out of the “working in the business” stage.
Here’s what you do:
i. Develop policies and procedures for everything. Yes, everything.
ii. Train your staff on all your new policies and procedures. If they don’t like the “new you”, get people who do. Give them 30-40 hours of training. Work them for a shift in the kitchen, on the door, and the bar if they are a server. Train them to sell. Give them product knowledge and test them on it. Cross-train your kitchen staff.
iii. Spend time and effort getting great people. Don’t just hire people to fill positions, hire the right people. If you can’t find them, keep looking. They’re out there.
iv. Once you get some decent, reliable staff who are selling and developing relationships with guests so they return, now you start to plan. Make a list of short and long term objectives you wish to meet.
v. Build a marketing plan based on said objectives.
vi. Execute, execute, execute.
Now that sounds too easy and I know I have simplified it
IntroductionAt one stage or another we all have heard or read all or any of the below mentioned, Time Related Phrases:1) Time is money. Time is wealth.2) Time is a river. Time is wind.3) Respect your time.4) Doesn’t matter what you do…time will just pass away.5) You never know, when your time will change. (Samey bada balvaan hota hai)6) Each year, each day, each moment is unique in its own way. Once it passes, it will never come again.ind the Managers, but high atop the tallest tree. The Leader is shouting down, “A little to the left. That’s it you’re right on track.”
You see a Leader has the vision. The Leader is the one who knows where we are going and sees the big picture. The Leader has before her a plan of short-term and long-term goals. The Leader is not clearing the underbrush, but ensures the path through the underbrush is the correct one.
In the game we call “Restaurant”; the plan is your budget, your marketing plan, your one week, one month, one quarter, or one year objectives. Whether they are staff based, financial based, service based, kitchen/culinary based, or all of the above; they are objectives nonetheless.
Now if you tell me you don’t have any plans or objectives, that, my friend is your first mistake. The second would be not taking the time to meet them.
But you can’t get decent staff, you don’t feel comfortable leaving your supervisors in charge long enough to work on your business. If you don’t take the time to hire the right people and develop them and train them properly, you will never be able to get out of the “working in the business” stage.
Here’s what you do:
i. Develop policies and procedures for everything. Yes, everything.
ii. Train your staff on all your new policies and procedures. If they don’t like the “new you”, get people who do. Give them 30-40 hours of training. Work them for a shift in the kitchen, on the door, and the bar if they are a server. Train them to sell. Give them product knowledge and test them on it. Cross-train your kitchen staff.
iii. Spend time and effort getting great people. Don’t just hire people to fill positions, hire the right people. If you can’t find them, keep looking. They’re out there.
iv. Once you get some decent, reliable staff who are selling and developing relationships with guests so they return, now you start to plan. Make a list of short and long term objectives you wish to meet.
v. Build a marketing plan based on said objectives.
vi. Execute, execute, execute.
Now that sounds too easy and I know I have simplified it
Banner Stands are a high impact, inexpensive and attractive medium of advertisement. They are usually found at exhibitions, trade shows, retail stores – just about anywhere the potential customer can be attracted by high wattage graphics.The attractive thing about banner stands is that they are portable, flexible and easy to set up. There are different kinds of banner stands like retractable or rollup, pole, telescopic and others. The technology that enables the high quality of g
But you can’t get decent staff, you don’t feel comfortable leaving your supervisors in charge long enough to work on your business. If you don’t take the time to hire the right people and develop them and train them properly, you will never be able to get out of the “working in the business” stage.
Here’s what you do:
i. Develop policies and procedures for everything. Yes, everything.
ii. Train your staff on all your new policies and procedures. If they don’t like the “new you”, get people who do. Give them 30-40 hours of training. Work them for a shift in the kitchen, on the door, and the bar if they are a server. Train them to sell. Give them product knowledge and test them on it. Cross-train your kitchen staff.
iii. Spend time and effort getting great people. Don’t just hire people to fill positions, hire the right people. If you can’t find them, keep looking. They’re out there.
iv. Once you get some decent, reliable staff who are selling and developing relationships with guests so they return, now you start to plan. Make a list of short and long term objectives you wish to meet.
v. Build a marketing plan based on said objectives.
vi. Execute, execute, execute.
Now that sounds too easy and I know I have simplified it
I’m not a human resources expert, but I have been on several hiring committees and have been involved directly in the hiring decisions at several organizations.What I’ve learned is that usually the decision boils down to a few top contenders with qualifications of fairly equal caliber. When more than one applicant is suitably qualified for a position, how is the decision made?Many times, the candidates help us make the decision by unknowingly disqualifying themselves!
iii. Spend time and effort getting great people. Don’t just hire people to fill positions, hire the right people. If you can’t find them, keep looking. They’re out there.
iv. Once you get some decent, reliable staff who are selling and developing relationships with guests so they return, now you start to plan. Make a list of short and long term objectives you wish to meet.
v. Build a marketing plan based on said objectives.
vi. Execute, execute, execute.
Now that sounds too easy and I know I have simplified it to the extreme, but I will guarantee, a simplified plan is better than no plan. I guarantee that if you start with a simplified plan, a great one will develop. What are you waiting for? Stop managing and start leading.
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