Measuring for Business Success
Learn big-business management secrets to succeed with your restaurant business!
Big businesses use powerful marketing techniques and business-intelligence software to know what
is working and what isn’t.
Those tools have not been applied to smaller restaurant and retail businesses, until now.
Learn how you can apply those techniques to your business by subscribing to this FREE newsletter.
Newsletters
Test Marketing Pointers for Restaurateurs, Part 1
Keeping your restaurant(s) “fresh” is critical to continued success in the food service business.
If you want or need to grow your restaurant’s sales, you absolutely must try to change something: introduce new menu items, try a new marketing technique, change the dinnerware, or any of hundreds of other things that you believe have a chance of boosting sales and profits.
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Checking if your strategy is working: Why POS Reports are not Enough
When you manage a restaurant, you regularly try new or different things to try and build sales, or to reverse a sales slump. For example, you could change some items on the menu. How will you know if that is accomplishing your objective?
You want to know if your actions have increased sales, or had no effect on sales at all, or even caused a decline in sales! In other words, you want to know: after I changed the menu, did sales go up? By how many percent? If the change continues, how much will sales of the new items be, and how much will total sales increase in the next 3 (or more) months?
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Performance Change Monitoring
If you own or manage a business, one of your worst fears is that you wake up one day and find that your business has gone into a steep decline. You find out too late that there was a brewing problem in one of your products, departments or units. The problem has grown so big you can't fix it without a major, painful, and expensive correction.
Take the subprime mortgage crisis, for example. Some of the largest financial institutions were caught with huge portfolios of the wrong type of loans. The problem was in just one area of their operations, but it eventually grew big enough to threaten the whole company. Overlooking that "detail" until it generated huge losses caused the CEOs of Citigroup and Merill Lynch their jobs. Had they monitored the performance of those "small parts" of their business more thoroughly, both the CEOs and the companies would have been far healthier.
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