Poughkeepsie Journal
A sparkling cider toast Monday afternoon by 400 students and staff at the Culinary Institute of America kicked off the school's diamond anniversary celebration. Other festivities are planned this summer and fall to mark the journey the Hyde Park culinary college has made since it opened on May 22, 1946, in a storefront in New Haven, Conn.
Read Article
Tuesday, May 23, 2006
Wednesday, May 17, 2006
Questions to ask in evaluating restaurants
Reviewing a restaurant is much more than gathering a group of friends, ordering different items on the menu and then telling readers what you liked.
A committed critic has dozens of checkpoints. These help determine the star rating used by The Chronicle. And after the first visit, there are at least two more. Each has to be considered before the final stars are awarded.
Determining Professional Service:
- Does the waiter know the menu and wine list and explain them in an articulate way?
- Is he well groomed and at ease at the table?
- Does he answer questions completely or find out the answers promptly?
- Does he remove and replace plates and utensils between courses?
- Does he put the plates in front of the right person?
- Does he wait until everyone is finished before removing the plates?
- Does he check in periodically to see if you need anything?
- Does he perform his duties in an unobtrusive manner?
- If there is a delay in the kitchen, does he communicate what's going on?
- If you complain, does he listen and act accordingly?
- Is the waiter able to "read" your table and adapt his behavior? (Some people want lots of interaction, others don't. The best waiters are adept at determining that)."
Source: "Questions to ask in evaluating restaurants" by Michael Bauer (Between Meals Blog, May 8, 2006) [via Slashfood]
A committed critic has dozens of checkpoints. These help determine the star rating used by The Chronicle. And after the first visit, there are at least two more. Each has to be considered before the final stars are awarded.
Determining Professional Service:
- Does the waiter know the menu and wine list and explain them in an articulate way?
- Is he well groomed and at ease at the table?
- Does he answer questions completely or find out the answers promptly?
- Does he remove and replace plates and utensils between courses?
- Does he put the plates in front of the right person?
- Does he wait until everyone is finished before removing the plates?
- Does he check in periodically to see if you need anything?
- Does he perform his duties in an unobtrusive manner?
- If there is a delay in the kitchen, does he communicate what's going on?
- If you complain, does he listen and act accordingly?
- Is the waiter able to "read" your table and adapt his behavior? (Some people want lots of interaction, others don't. The best waiters are adept at determining that)."
Source: "Questions to ask in evaluating restaurants" by Michael Bauer (Between Meals Blog, May 8, 2006) [via Slashfood]
A Lesson - One Stroke At A Time
Leanne Hoagland-Smith talks about Tiger's approach to his game and life in general.
In a recent inter-view, Tiger Woods shared this simple formula for success. He further revealed that his habit of focusing on the task at hand and not the previous stroke nor the next stroke keeps him self-disciplined. Woods recent 4th win of the Masters before the age of 30 validates his philosophy.
The Tiger Woods One stroke at a time is a brilliant example of short-term goal setting and more importantly goal accomplishment. Each stroke is a short-term goal. The obstacles are viewed from hazards to weather conditions. Solutions appear to be instantaneously created with action steps quickly following. With the completion of each short-term goal, Tiger Woods is that much closer to completing the long-term goal of completing and hopefully winning the game. Each completed game then reverts to a short term goal allowing him to work towards his long term goal or dream of being the very best in the game of golf ~ past, present and future.
Goal setting is a behavior that when used consistently and correctly guarantees success 98% of the time. The problem is that many individuals look to long term goals and do not include supporting short-term goals. Short-terms goals, one stroke at a time, are the foundation for the successful completion of long-term goals.
Tiger Woods positive attitude about the past and the future also greatly contribute to his ability to achieve his goals. Attitudes are really habits of thought. Tiger s habit of thought by focusing on the present allows him to stay self-disciplined and self-directed thereby accomplishing both short and long-term goals.
With over 20 years of practice, Tiger has mastered the physical skill of golf and has developed extensive knowledge about this sport through years of application. His skill level supports his positive attitudes and goal setting behavior. Finally, Tiger Woods also revealed that even though becoming the best golfer the world has ever seen is his long-term goal, he realizes that his life must have balance. We can see and hear of this balance when Tiger talks about family and friends.
Everyone from business leaders to individuals can take a lesson from this young man on how to begin to accomplish your goals both personally and professionally;
Source: http://scarpero.com/success/73/a-lesson-one-stroke-at-a-time-2/
In a recent inter-view, Tiger Woods shared this simple formula for success. He further revealed that his habit of focusing on the task at hand and not the previous stroke nor the next stroke keeps him self-disciplined. Woods recent 4th win of the Masters before the age of 30 validates his philosophy.
The Tiger Woods One stroke at a time is a brilliant example of short-term goal setting and more importantly goal accomplishment. Each stroke is a short-term goal. The obstacles are viewed from hazards to weather conditions. Solutions appear to be instantaneously created with action steps quickly following. With the completion of each short-term goal, Tiger Woods is that much closer to completing the long-term goal of completing and hopefully winning the game. Each completed game then reverts to a short term goal allowing him to work towards his long term goal or dream of being the very best in the game of golf ~ past, present and future.
Goal setting is a behavior that when used consistently and correctly guarantees success 98% of the time. The problem is that many individuals look to long term goals and do not include supporting short-term goals. Short-terms goals, one stroke at a time, are the foundation for the successful completion of long-term goals.
Tiger Woods positive attitude about the past and the future also greatly contribute to his ability to achieve his goals. Attitudes are really habits of thought. Tiger s habit of thought by focusing on the present allows him to stay self-disciplined and self-directed thereby accomplishing both short and long-term goals.
With over 20 years of practice, Tiger has mastered the physical skill of golf and has developed extensive knowledge about this sport through years of application. His skill level supports his positive attitudes and goal setting behavior. Finally, Tiger Woods also revealed that even though becoming the best golfer the world has ever seen is his long-term goal, he realizes that his life must have balance. We can see and hear of this balance when Tiger talks about family and friends.
Everyone from business leaders to individuals can take a lesson from this young man on how to begin to accomplish your goals both personally and professionally;
- Develop and maintain positive attitudes
- Become an expert
- Stay balanced and remember
Source: http://scarpero.com/success/73/a-lesson-one-stroke-at-a-time-2/
Sunday, May 07, 2006
11 ways we deny ourselves of success!
There are a multitude of reasons why people fail. Failure is almost always based on reasons that are in that person’s control. Think about these and what you can do to avoid getting derailed…
- We lack concentration. We think we can wing our way through crucial moments in work and life. Rather than translate experience into expertise, we let it translate into bad habits.
- We don’t seek to improve our technical skills, let alone our people skills and attitudes. We’re satisfied with where we’re at in life, especially if improvement won’t come easy.
- We surround ourselves with the wrong influences. People with no ambition, no goals, no optimism, nothing positive to contribute.
- We expect people to cater to us, or give us things. This is particularly sad when we expect it based on reasons that matter only to us, when we think because we were born, we “get” something.
- We’re just too proud. We don’t seek advice, guidance, input, or even casual suggestions from others. We think we can go it alone forever.
- We don’t put in enough time. We slip into a mediocre, half-hearted routine, and we lack the self-discipline and achievement drive to stick to successful, daily habits.
- We have no inspiring, internalized reasons for wanting to be successful. We move as the carrot and stick dictate. Or, our stated reasons aren’t compelling enough to cause daily behaviors.
- When we don’t hit our objectives, we too quickly point to external reasons or place blame on someone besides ourselves
- We’ve got our ladder against the wrong wall. Either we’re in the wrong position, the wrong company, or the wrong industry. And we ignore all the signs that it’s a bad fit.
- We’re not willing to “endure to the end.” We get fired up for a short period of time, but then flame out.
- Most tragic of all: we don’t want to succeed. We’re willing to settle for mediocrity.
Don’t settle.
Source: http://www.salesteamtools.com/2006/01/16/11-ways-we-deny-ourselves-of-success/
Saturday, May 06, 2006
It's really NOT who you know!
It's who you are that counts!
We’ve all heard in business that it’s who you know. Insufficient advice.
But it’s really who you are that counts.
You can know everyone that matters in your town. Treat them poorly, see where that gets you. Run over people by being overly domineering, see how much business you do with them. Be a “yes” man, see what kind of reputation that earns you.
Character counts when you’re wanting to build a business. You’ve got to be someone that others like doing business with. Sales skills should always take a back seat to fundamental people skills. Here are a few areas that coaches need to improve in:
- Not interrupting others.
- Showing genuine interest.
- Not assuming too much in a new relationship.
- Asking thoughtful questions.
- Having a friendly countenance (this is often overlooked).
- Using the person’s name frequently.
- Being authentic, not simply ABC Company’s owner/operator.
Fill your head with concepts that help you become a better person (visit the websites of Jim Rohn, Dale Carnegie, Earl Nightengale, Brian Tracy for resources that will help you here) and you will win people over.
Friday, May 05, 2006
Trotter's does it again!
My favorite restaurant, Charlie Trotter's, has been named as the winner of RESTAURANT HOSPITALITY’S 17th annual Best Wine Lists in America Competition.
Read article here.
Read article here.
Thursday, May 04, 2006
Why Oil Prices Are Up, and What We Can, and Can't, Do about It
Rising prices for crude oil and gasoline have alarmed many consumers and put President Bush and other U.S. politicians in a position where they feel they have to do something -- anything -- in response, especially in an election year. But members of Wharton's finance department and private-sector economists say it's a good time to shun hysteria, take a deep breath, and look rationally at the reasons for the price hikes and their likely effect on the economy and on energy policy.
Read article at http://getgame.biz/Articles/Oil_Prices_052006.doc
Read article at http://getgame.biz/Articles/Oil_Prices_052006.doc
Tuesday, May 02, 2006
Put Your Money To Work - Cash flow management is an essential art.
By William J. Lynott
Cash Flow—How much money is flowing into and out of your cash registers—is an easy concept to understand. Still, not every restaurateur is fully aware of the impact that well-managed cash flow has on the bottom line. That's probably because the importance of cash flow is much easier to recognize in some types of businesses than it is in others.
Take home building, for example. When a builder takes on hundreds of thousands of dollars in short-term debt to build some new homes, it's obvious that he must generate substantial positive cash flow in a hurry if the business is to survive.
The situation in the typical restaurant is not that dramatic, of course, but generating and managing cash flow is critically important in even the smallest of food operations. Losing control of money has put more entrepreneurs out of business than temporary red figures on the bottom line. On the other hand, a sensible cash management system can provide a life-sustaining cushion during those inevitable slow times when the phone just isn't ringing as often as you'd like and the customers aren't streaming in.
Once you accept the importance of managing cash flow in your restaurant, you'll find it easier to stick to the rules of profitable cash management. Here are nine powerful techniques for improving cash flow and profits in your business right now:
1. Never allow any of your money to lie idle. If you don't already have one, open a money market account at your bank and have it linked to your business checking account to allow for telephone or online transfers. From that point on, deposit all of your daily receipts into the money market account where they will immediately start drawing interest. This step may not seem worth the effort at today's somewhat anemic interest rates, but this is a temporary situation. Rates have already begun inching upward toward a more normal level. Setting up a smooth money management system now will pay permanent dividends in your future business operations.
Never deposit receipts directly into your checking account. Keep a minimum balance in the checking account and transfer cash by phone or online only as needed to cover checks written. Modern technology has made telephone and online money transfers so quick and easy that you can't afford to pass up this profit-enhancing technique.
Worst money sin of all: leaving checks or cash lying around in a desk drawer until you can get to the bank. Using every cent of your money to make money is the mark of a professional money manager.
2. Don't be timid about using other people's money. We've all heard stories about entrepreneurs who have built large business empires without ever borrowing a cent, but they are the rare exceptions. At today's extraordinarily low interest rates, careful use of credit can be one of your most effective business-building tools.
I've never been comfortable with extensive use of credit for personal affairs. When it comes to business, though, it's a different matter. To begin with, the costs of borrowing are legitimate tax deductions for businesses. It makes more sense to spread out the cost of capital purchases than to put stress on your cash flow by laying out large amounts of cash that you could put to productive business use. Credit, when used in a sensible and controlled manner, can be a powerful profit enhancer.
3. Consider leasing. Leasing products like cars or vans for personal use is generally not economically advantageous. Most accountants agree that leasing is the most expensive way to maintain a car exclusively for personal use.
But the rules change for business.
"The nature of business accounting is such that leasing can be the most sensible approach to many types of capital investments, including vehicles," says CPA Thomas Normoyle, Huntingdon Valley, PA. "It usually makes sense to lease if you will be able to use the cash in your business or in your investments to earn a better return than the cost of leasing."
Talk to your tax advisor about this the next time you're considering any purchase of capital equipment that might be available on a lease basis.
4. Don't be in a big hurry to pay your bills. There's a good reason why checks are slow to come in from people who owe you money: Hanging on to your cash as long as possible keeps that money available to draw interest or to work in your business.
Take the time to set up a system that provides for paying bills only when they are due. It's easy to do and is another rung on the ladder of professional cash management.
Important: Don't go overboard and jeopardize your credit standing by paying bills late. Pay your bills when they are due—not before, not after.
And keep an eye on the state of postal deliveries during this uncertain time. If it appears that deliveries may be delayed, avoid those oppressive late-payment fees by allowing a little extra time.
5. Be aggressive about collecting accounts receivable. If you do any of your own billing, if you run any private tabs, even in relatively small amounts, it's important not to allow those receivables to go untended. You've earned that money; you have a right to it; you need it. If your customers learn that you are cavalier about money owed to you, you can be certain they will stretch your patience (and your cash flow) to the limit.
6. Maintain a cash cushion. Whenever possible, keep enough business cash in interest-bearing accounts to cover normal operating expenses for three to six months. There is nothing like the peace of mind and self-confidence that comes when you don't have to sweat out next week's payroll during a slow spell. Also, keep in mind that your cushion money is making money for you in those interest-bearing accounts.
7. Develop a personal relationship with your banker. Handling money is a banker's job, and most are very good at it. Even if your restaurant is a tiny operation, it's a good idea to have a personal relationship at the bank where you do business. Discuss your financial picture honestly with the manager of your local-branch. You'll get some good ideas and a favorable ear should you ever need a little financial help.
8. Harness the Magic of Impulse Sales Ever notice those inexpensive items on display at the cash registers of your local supermarket or drugstore? They're known as impulse items - products that are inexpensive enough to be bought on impulse.
Don't be misled by the low selling price of these items (almost always in the $2-$5 range). An impulse sale will produce a higher percentage of net profit than your normal transactions. That's because almost all of the gross profit on impulse sales moves directly to your bottom line. The meal you served has paid for your operating and labor costs, so any additional sale increases your costs only by the cost of the product.
If you have a cashier's station at your entrance, you have a natural opportunity for a profitable impulse display. It's here, where the customer stops to pay his or her check, that many impulse items will sell themselves. Whether you feature take-home bakery goods, candy, inexpensive gadgets totally unrelated to the restaurant business or anything else that strikes your fancy, every impulse sale will boost your bottom line.
The more cash you generate every day, the more you will benefit from good cash management, and the more impulse sales you generate, the more cash you will have to manage.
9. Let your computer help you manage your cash flow. Whether your restaurant is large enough to make use of one of those heavyweight commercial software packages designed exclusively for foodservice, or whether you use Quicken or Money on a desktop PC, trust every financial aspect of your restaurant, as well as personal investments, to your computer. The financial reports and analyses that modern software can produce at the touch of a button are now critically important tools for improving cash flow and bottom-line profits.
All of the popular software packages designed for small business and personal finance are infinitely easier to use than they were as recently as a couple of years ago. More important, they will teach you in dramatic fashion how much you can benefit from a sensible cash management system.
Taken individually, good cash management techniques may seem inconsequential. However, when you blend them together in a consistent manner, they will form a significant and permanent contributor to your bottom line.
William J. Lynott is a former management consultant and corporate executive who writes on business and financial topics for a variety of consumer and trade publications. You can reach Bill at lynott@verizon.net.
Cash Flow—How much money is flowing into and out of your cash registers—is an easy concept to understand. Still, not every restaurateur is fully aware of the impact that well-managed cash flow has on the bottom line. That's probably because the importance of cash flow is much easier to recognize in some types of businesses than it is in others.
Take home building, for example. When a builder takes on hundreds of thousands of dollars in short-term debt to build some new homes, it's obvious that he must generate substantial positive cash flow in a hurry if the business is to survive.
The situation in the typical restaurant is not that dramatic, of course, but generating and managing cash flow is critically important in even the smallest of food operations. Losing control of money has put more entrepreneurs out of business than temporary red figures on the bottom line. On the other hand, a sensible cash management system can provide a life-sustaining cushion during those inevitable slow times when the phone just isn't ringing as often as you'd like and the customers aren't streaming in.
Once you accept the importance of managing cash flow in your restaurant, you'll find it easier to stick to the rules of profitable cash management. Here are nine powerful techniques for improving cash flow and profits in your business right now:
1. Never allow any of your money to lie idle. If you don't already have one, open a money market account at your bank and have it linked to your business checking account to allow for telephone or online transfers. From that point on, deposit all of your daily receipts into the money market account where they will immediately start drawing interest. This step may not seem worth the effort at today's somewhat anemic interest rates, but this is a temporary situation. Rates have already begun inching upward toward a more normal level. Setting up a smooth money management system now will pay permanent dividends in your future business operations.
Never deposit receipts directly into your checking account. Keep a minimum balance in the checking account and transfer cash by phone or online only as needed to cover checks written. Modern technology has made telephone and online money transfers so quick and easy that you can't afford to pass up this profit-enhancing technique.
Worst money sin of all: leaving checks or cash lying around in a desk drawer until you can get to the bank. Using every cent of your money to make money is the mark of a professional money manager.
2. Don't be timid about using other people's money. We've all heard stories about entrepreneurs who have built large business empires without ever borrowing a cent, but they are the rare exceptions. At today's extraordinarily low interest rates, careful use of credit can be one of your most effective business-building tools.
I've never been comfortable with extensive use of credit for personal affairs. When it comes to business, though, it's a different matter. To begin with, the costs of borrowing are legitimate tax deductions for businesses. It makes more sense to spread out the cost of capital purchases than to put stress on your cash flow by laying out large amounts of cash that you could put to productive business use. Credit, when used in a sensible and controlled manner, can be a powerful profit enhancer.
3. Consider leasing. Leasing products like cars or vans for personal use is generally not economically advantageous. Most accountants agree that leasing is the most expensive way to maintain a car exclusively for personal use.
But the rules change for business.
"The nature of business accounting is such that leasing can be the most sensible approach to many types of capital investments, including vehicles," says CPA Thomas Normoyle, Huntingdon Valley, PA. "It usually makes sense to lease if you will be able to use the cash in your business or in your investments to earn a better return than the cost of leasing."
Talk to your tax advisor about this the next time you're considering any purchase of capital equipment that might be available on a lease basis.
4. Don't be in a big hurry to pay your bills. There's a good reason why checks are slow to come in from people who owe you money: Hanging on to your cash as long as possible keeps that money available to draw interest or to work in your business.
Take the time to set up a system that provides for paying bills only when they are due. It's easy to do and is another rung on the ladder of professional cash management.
Important: Don't go overboard and jeopardize your credit standing by paying bills late. Pay your bills when they are due—not before, not after.
And keep an eye on the state of postal deliveries during this uncertain time. If it appears that deliveries may be delayed, avoid those oppressive late-payment fees by allowing a little extra time.
5. Be aggressive about collecting accounts receivable. If you do any of your own billing, if you run any private tabs, even in relatively small amounts, it's important not to allow those receivables to go untended. You've earned that money; you have a right to it; you need it. If your customers learn that you are cavalier about money owed to you, you can be certain they will stretch your patience (and your cash flow) to the limit.
6. Maintain a cash cushion. Whenever possible, keep enough business cash in interest-bearing accounts to cover normal operating expenses for three to six months. There is nothing like the peace of mind and self-confidence that comes when you don't have to sweat out next week's payroll during a slow spell. Also, keep in mind that your cushion money is making money for you in those interest-bearing accounts.
7. Develop a personal relationship with your banker. Handling money is a banker's job, and most are very good at it. Even if your restaurant is a tiny operation, it's a good idea to have a personal relationship at the bank where you do business. Discuss your financial picture honestly with the manager of your local-branch. You'll get some good ideas and a favorable ear should you ever need a little financial help.
8. Harness the Magic of Impulse Sales Ever notice those inexpensive items on display at the cash registers of your local supermarket or drugstore? They're known as impulse items - products that are inexpensive enough to be bought on impulse.
Don't be misled by the low selling price of these items (almost always in the $2-$5 range). An impulse sale will produce a higher percentage of net profit than your normal transactions. That's because almost all of the gross profit on impulse sales moves directly to your bottom line. The meal you served has paid for your operating and labor costs, so any additional sale increases your costs only by the cost of the product.
If you have a cashier's station at your entrance, you have a natural opportunity for a profitable impulse display. It's here, where the customer stops to pay his or her check, that many impulse items will sell themselves. Whether you feature take-home bakery goods, candy, inexpensive gadgets totally unrelated to the restaurant business or anything else that strikes your fancy, every impulse sale will boost your bottom line.
The more cash you generate every day, the more you will benefit from good cash management, and the more impulse sales you generate, the more cash you will have to manage.
9. Let your computer help you manage your cash flow. Whether your restaurant is large enough to make use of one of those heavyweight commercial software packages designed exclusively for foodservice, or whether you use Quicken or Money on a desktop PC, trust every financial aspect of your restaurant, as well as personal investments, to your computer. The financial reports and analyses that modern software can produce at the touch of a button are now critically important tools for improving cash flow and bottom-line profits.
All of the popular software packages designed for small business and personal finance are infinitely easier to use than they were as recently as a couple of years ago. More important, they will teach you in dramatic fashion how much you can benefit from a sensible cash management system.
Taken individually, good cash management techniques may seem inconsequential. However, when you blend them together in a consistent manner, they will form a significant and permanent contributor to your bottom line.
William J. Lynott is a former management consultant and corporate executive who writes on business and financial topics for a variety of consumer and trade publications. You can reach Bill at lynott@verizon.net.
Monday, May 01, 2006
SON OF SAM
Feeling any sympathy for Wal-Mart? You'd better, because the ever-growing firestorm of protest launched against the mega-retailer for its employee health-care policy could be directed against the restaurant industry next. A new study done in Ohio, documenting which companies have the most workers receiving government benefits, pegs Wal-Mart as the worst offender. But look out. Six of the next seven spots on the list were held by restaurant chains-two of them full-service chains. State and local officials have already begun to demand answers on this issue. They're asking why cash-strapped governments should subsidize-or in some cases, double-subsidize-somebody else's business.
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