After targeting smoking and foie gras in area restaurants the City Council has now set its sights on another target. Gee ,what's next?
Source: http://us.rd.yahoo.com/dailynews/rss/search/restaurants/SIG=121ep1881/*http%3A//www.nbc5.com/news/9446752/detail.html?rss=chi&psp=news
Friday, June 30, 2006
Why Managing by Facts Works!
Jeffrey Pfeffer and Robert I. Sutton
Using hard facts, such as qualitative or quantitative data, to make strategic decisions is the clearest path to the best business choices. Yet many executives ignore the facts and make "gut" decisions based on fads or hunches. Although there's great value in keen intuition and fresh ideas, evidence-based management leads to competitive advantage.
Read full article here.
Using hard facts, such as qualitative or quantitative data, to make strategic decisions is the clearest path to the best business choices. Yet many executives ignore the facts and make "gut" decisions based on fads or hunches. Although there's great value in keen intuition and fresh ideas, evidence-based management leads to competitive advantage.
Read full article here.
Raising Capital for Your Restaurant - How Long Does it Take?
Most owners vastly underestimate the time commitment necessary to successfully complete a financing. In actuality, an owner seeking financing needs to budget between 500 to 1000 work-hours to the capital-raising process, spread out over a 6-9 month time period.
The key processes in the capital-raising process include 1) perfecting the business plan, offering memorandum, and other company due diligence materials, 2) developing a comprehensive, targeted prospective investor list, 3) contacting this list and responding to investor due diligence requests, and 4) negotiating the transaction.
Completing the business plan typically requires at least 200 hours of work. This time is dedicated to conducting the market research to validate the opportunity, developing a comprehensive financial model, determining the most effective way to lay out the business strategy, and actually writing and proofing the business plan.
The next step, developing a comprehensive, targeted prospective investor list is also very time consuming. There are thousands of potential investors, each of which has very different tastes regarding the types of ventures that interest them. Some invest by market sector (e.g., healthcare vs. telecommunications), stage (seed stage vs. later stage), geography, or a combination of these. Many hours must be dedicated to determine which investors are the right fit for your restaurant. This process involves creating a master investor list, visiting each investor and reviewing their investment criteria and past investments, and determining who is the right contact to begin with.
To see how easily the time adds up, consider that only about 25% of prospective investors who show an initial interest in a transaction actually progress to detailed company due diligence. Only about 10% of this 25% actually progress to a bonafide offer of funds, of which only 25% of these actually result in an investment transaction. So completing a financing transaction requires, on average, contacting approximately 160 pre-qualified prospective investors.
The due diligence process, where investors scrutinize the investment, can also be very time consuming for the company. Investors often request many documents, some of which can be easily retrieved from files (e.g., prior tax returns), while others may take more time to prepare (e.g., additional market analysis, customer lists with past purchases, contact information, etc.).
Finally, negotiating a transaction can take a significant amount of time depending upon the complexity of the transaction and number of parties involved.
Too many companies fail to raise capital since they are unaware of the significant time requirements to do so. Those owners who understand these requirements and budget accordingly are the ones most likely to persevere and end up with the capital they need.
The key processes in the capital-raising process include 1) perfecting the business plan, offering memorandum, and other company due diligence materials, 2) developing a comprehensive, targeted prospective investor list, 3) contacting this list and responding to investor due diligence requests, and 4) negotiating the transaction.
Completing the business plan typically requires at least 200 hours of work. This time is dedicated to conducting the market research to validate the opportunity, developing a comprehensive financial model, determining the most effective way to lay out the business strategy, and actually writing and proofing the business plan.
The next step, developing a comprehensive, targeted prospective investor list is also very time consuming. There are thousands of potential investors, each of which has very different tastes regarding the types of ventures that interest them. Some invest by market sector (e.g., healthcare vs. telecommunications), stage (seed stage vs. later stage), geography, or a combination of these. Many hours must be dedicated to determine which investors are the right fit for your restaurant. This process involves creating a master investor list, visiting each investor and reviewing their investment criteria and past investments, and determining who is the right contact to begin with.
To see how easily the time adds up, consider that only about 25% of prospective investors who show an initial interest in a transaction actually progress to detailed company due diligence. Only about 10% of this 25% actually progress to a bonafide offer of funds, of which only 25% of these actually result in an investment transaction. So completing a financing transaction requires, on average, contacting approximately 160 pre-qualified prospective investors.
The due diligence process, where investors scrutinize the investment, can also be very time consuming for the company. Investors often request many documents, some of which can be easily retrieved from files (e.g., prior tax returns), while others may take more time to prepare (e.g., additional market analysis, customer lists with past purchases, contact information, etc.).
Finally, negotiating a transaction can take a significant amount of time depending upon the complexity of the transaction and number of parties involved.
Too many companies fail to raise capital since they are unaware of the significant time requirements to do so. Those owners who understand these requirements and budget accordingly are the ones most likely to persevere and end up with the capital they need.
Effectively Completing the Operations Plan Section of Your Business Plan
The Operations Plan is a critical component of any business plan as it presents the Company's action plan for executing its vision. The Operations Plan must detail 1) the processes that are performed to serve customers every day (short-term processes) and 2) the overall business milestones that the company must attain to be successful (long-term processes).
Everyday Processes (Short-Term Processes)Every company has processes to provide its customers with products and services. For instance, Wal Mart has a unique distribution system to effectively move products from its warehouses to its stores, and finally to its customers' homes. Technology products manufacturers have processes to convert raw materials into finished products. And restaurants have processes to identify new areas of customer interest, to continually update service features, etc.
The processes that a company uses to serve its customers are what transform a business plan from concept to reality. Anyone can have a concept. And more importantly, investors do not invest in concepts -- they invest in reality. Reality is proving that the management team can execute the concept better than anyone else, and the Operations Plan is where the plan proves this by detailing key operational processes.
Business Milestones (Long-Term Processes) The second piece of the Operations Plan is proving that the team will execute the long-term company vision. This is best presented as a chart. On the left side, there should be a list of the key milestones that the Company must reach, and on the right, the target date for achieving them. Sample milestones include expected dates when:
- New products and services will be introduced to the marketplace
- Revenue milestones will be attained (e.g., date when sales will surpass million dollar mark)
- Key partnerships will be executed
- Key financial events will occur (future funding rounds, mortgage or loan payoffs, etc.)
- Key employees will be hired (executive managers)
- Additional text should be used, where necessary, to support the projections laid out in the chart.
The milestone projections presented in the Operations Plan must be consistent with the projections in the Financial Plan. In both areas, it is important to be aggressive but credible. Presenting a plan in which the company grows too quickly will show the naiveté of the management team, while presenting too conservative a growth plan will often fail to excite the potential investor who will require a high rate of return over a relatively short time period.
Alternative Venture Finance: Federal Grants and Loans
While most companies seeking venture capital initially think about angel investors and venture capitalists, a large alternative source of financing is federal grants and loans. The two largest federal grant programs are run by the Small Business Administration (SBA), and by Small Business Investment Companies (SBICs).
An SBA loan, regardless of whether it is a direct loan from the SBA, or, as is more common, a bank loan guaranteed by the SBA, is essentially a bank loan. The benefit of it versus a traditional bank loan is the rate. SBA rates are typically much less than traditional business loan rates.
In most cases, in a guaranteed SBA bank loan, the SBA guarantees 90 percent of the loan will be repaid to the bank. As such, banks are at much less risk than in most other loans, and are a bit more flexible with regards to who they offer these loans. However, the SBA usually requires the founders of the company to personally guarantee the loans, which makes them risky should the venture collapse.
Alternatively, Small Business Investment Companies (SBICs) are privately organized corporations that are licensed and regulated by the SBA. Small or emerging businesses which qualify for assistance from the SBIC program can receive equity capital and/or long-term loans from these companies. Essentially, these companies provide their own capital, which is supplemented by federal funds, to the companies they fund.
Interestingly, U.S. taxpayers benefits from the SBIC program as tax revenues generated from successful SBIC investments have more than covered the cost of the program. Likewise the program has created hundreds of thousands of jobs.
In summary, SBA and SBIC financing are viable alternatives to financing from angel investors and venture capitalists and should be considered in the capital raising process. Similarly to angel and VC financing, companies seeking SBA and SBIC financing need a strong management team and value proposition, and a highly professional and compelling business plan in order to raise the capital they need.
An SBA loan, regardless of whether it is a direct loan from the SBA, or, as is more common, a bank loan guaranteed by the SBA, is essentially a bank loan. The benefit of it versus a traditional bank loan is the rate. SBA rates are typically much less than traditional business loan rates.
In most cases, in a guaranteed SBA bank loan, the SBA guarantees 90 percent of the loan will be repaid to the bank. As such, banks are at much less risk than in most other loans, and are a bit more flexible with regards to who they offer these loans. However, the SBA usually requires the founders of the company to personally guarantee the loans, which makes them risky should the venture collapse.
Alternatively, Small Business Investment Companies (SBICs) are privately organized corporations that are licensed and regulated by the SBA. Small or emerging businesses which qualify for assistance from the SBIC program can receive equity capital and/or long-term loans from these companies. Essentially, these companies provide their own capital, which is supplemented by federal funds, to the companies they fund.
Interestingly, U.S. taxpayers benefits from the SBIC program as tax revenues generated from successful SBIC investments have more than covered the cost of the program. Likewise the program has created hundreds of thousands of jobs.
In summary, SBA and SBIC financing are viable alternatives to financing from angel investors and venture capitalists and should be considered in the capital raising process. Similarly to angel and VC financing, companies seeking SBA and SBIC financing need a strong management team and value proposition, and a highly professional and compelling business plan in order to raise the capital they need.
The Case Against Illegal Hiring
QSR Online
Like most cases that make the Supreme Court’s docket, the question posed in Mohawk Industries v. Williams, et al is a smaller piece needed to complete the puzzle in a much larger legal battle. When the court hands down its decision, it will only be ruling whether Mohawk, the country’s second largest rug and carpet manufacturer, and temporary employment agencies with which the company worked constitute an enterprise under the Racketeer Influenced and Corrupt Organizations (rico) Act.By itself that doesn’t seem like much. But that decision, in turn, will determine if former Mohawk employees were right to sue the company for back wages and damages under RICO, a suit that could cost the company millions and open the door to any number of similar actions taken against other employers, including quick-service restaurants.
Read Article
"Somebody sue me! Please!"
KFC Gets Fried. Is Starbucks Next?
Forbes.com
When KFC was hit with a lawsuit last week over its use of partially hydrogenated oil, the question on many lips was "Who's next?" But despite a flurry of reports pointing at Starbucks, the Center for Science in the Public Interest says it has no immediate plan to sue the ubiquitous coffeehouse.
Read Article
Forbes.com
When KFC was hit with a lawsuit last week over its use of partially hydrogenated oil, the question on many lips was "Who's next?" But despite a flurry of reports pointing at Starbucks, the Center for Science in the Public Interest says it has no immediate plan to sue the ubiquitous coffeehouse.
Read Article
"Please sir can I have another?"
More nutrition info for restaurant diners?
UPI
The Food and Drug Administration is urging the food service industry to promote low-calorie eating. In a recent study, the FDA and the Keystone Center, a non-profit organization, targeted the issue of rising obesity rates in the United States and how the food service industry could help curb that trend.
"I musta done something to deserve this!"
One of the thoughts that consistently come to my mind as I see more and more intrusion into our businesses by governments anxious to appease their need to posture themselves as doing what's in the "public interest", is an old Meg Greenfield quote, "stupidty has begun to think!"
Here is just the latest move by a locality to help protect us from the evil we do to ourselves! Shame on us and thank God that we have the Oakland City Council and the Chicago City Council and the ____________ (insert your town here!) City Council.
Oakland bans foam containers from restaurants
East Bay Business Times
The Oakland City Council banned polystyrene food packages in a late-night session Tuesday. The city's move requires restaurants to start using biodegradable food containers starting in January. It calls for fines of $100 to $500 for businesses that fail to comply.
Here We Go Again!
Trans fat ban sought for Chicago restaurants
The Chicago Tribune
One of Chicago's most powerful aldermen is proposing the city become the first in the nation to ban restaurants from using artery-clogging trans fat oils.Ald. Edward Burke, chairman of the City Council's Finance Committee, introduced the proposal Wednesday. It was criticized by Mayor Richard Daley, who said a ban was unnecessary.
Wednesday, June 28, 2006
AAA Says Busiest Fourth of July Travel Weekend Ever
This year, the 50th Anniversary of the Interstate Highway System will kick off a record Fourth of July holiday weekend. AAA estimates that 40.7 million Americans will travel 50 miles or more from home this holiday, a 1.2 percent increase from the 40.2 million who traveled last year.
Source: http://www.restaurantnewsresource.com/article22909.html
Source: http://www.restaurantnewsresource.com/article22909.html
Summer Employment Forecast Underscores Restaurant Industry's Importance to U.S. Economy
PR (Washington, DC)
The National Restaurant Association projects that the nation's 925,000 restaurant-and-foodservice outlets will add 409,500 jobs during the 2006 summer season, a 4.5 percent increase over their March 2006 employment level. The restaurant industry is the largest private-sector employer with its 12.5 million employees. "Restaurants are a vital part of the travel-and-tourism industry, and during the peak summer months, restaurants across the country ramp up their staffing levels to meet the increasing number of diners," said Steven C. Anderson, president and chief executive officer of the National Restaurant Association. "The $511 billion restaurant industry is one of the leading job creators in the U.S., driving the nation's economy and providing rewarding career and employment opportunities to 12.5 million individuals."
Read Article
The National Restaurant Association projects that the nation's 925,000 restaurant-and-foodservice outlets will add 409,500 jobs during the 2006 summer season, a 4.5 percent increase over their March 2006 employment level. The restaurant industry is the largest private-sector employer with its 12.5 million employees. "Restaurants are a vital part of the travel-and-tourism industry, and during the peak summer months, restaurants across the country ramp up their staffing levels to meet the increasing number of diners," said Steven C. Anderson, president and chief executive officer of the National Restaurant Association. "The $511 billion restaurant industry is one of the leading job creators in the U.S., driving the nation's economy and providing rewarding career and employment opportunities to 12.5 million individuals."
Read Article
Tuesday, June 27, 2006
Top 10 Signs You're Made to be an Entrepreneur
Fred's Top 10 Signs You're Made to be an Entrepreneur
10. You are unemployable. You can’t hold a job. You don’t want to hold a job. And you react to getting a job the same way a cat reacts when you try to give it a bath.
9. You are anti-authoritarian. You can’t fathom the thought of being anything less than Boss, President, Chairman, Don, and/or Emperor.
8. You have the uncanny ability to get other people to do all the work.
7. You are always looking for and/or seeing economic opportunity everywhere and in everything. While at a concert, you occupy yourself by estimating the evening’s take and its gross margins instead of listening to the music.
6. You spend more time and energy looking for easier, faster, cheaper, more effective ways of accomplishing something than if you just did the task outright.
5. You would enthusiastically trade a life-time pass to Disneyland for one ride in the Vomit Comet. In other words, you would give up a secure, even-keeled, bland existence for a life that whipsaws uncontrollably between exhilaration and terror.
4. You don’t see lack of money, lack of knowledge, and lack of experience as barriers to entry. You are also not deterred by the existence of formidable competition.
3. You favor multiplication over addition and you lull yourself to sleep by calculating price-earnings ratios.
2. You would happily invest your home’s equity and your life savings (and your mother’s life savings) in your start-up.
And the Number One sign you are made to be an entrepreneur . . .
1. When you project future earnings, your spread sheet shows that by Year 5, you can buy Argentina and sell it to Brazil.
Source: http://lazyway.blogs.com/lazy_way/2006/06/top_10_signs_yo.html
10. You are unemployable. You can’t hold a job. You don’t want to hold a job. And you react to getting a job the same way a cat reacts when you try to give it a bath.
9. You are anti-authoritarian. You can’t fathom the thought of being anything less than Boss, President, Chairman, Don, and/or Emperor.
8. You have the uncanny ability to get other people to do all the work.
7. You are always looking for and/or seeing economic opportunity everywhere and in everything. While at a concert, you occupy yourself by estimating the evening’s take and its gross margins instead of listening to the music.
6. You spend more time and energy looking for easier, faster, cheaper, more effective ways of accomplishing something than if you just did the task outright.
5. You would enthusiastically trade a life-time pass to Disneyland for one ride in the Vomit Comet. In other words, you would give up a secure, even-keeled, bland existence for a life that whipsaws uncontrollably between exhilaration and terror.
4. You don’t see lack of money, lack of knowledge, and lack of experience as barriers to entry. You are also not deterred by the existence of formidable competition.
3. You favor multiplication over addition and you lull yourself to sleep by calculating price-earnings ratios.
2. You would happily invest your home’s equity and your life savings (and your mother’s life savings) in your start-up.
And the Number One sign you are made to be an entrepreneur . . .
1. When you project future earnings, your spread sheet shows that by Year 5, you can buy Argentina and sell it to Brazil.
Source: http://lazyway.blogs.com/lazy_way/2006/06/top_10_signs_yo.html
Help!
Hey, I need some material to write about!
Do you have questions you need the answers to right now? Email them to me and I’ll answer them in the blog.
I am sure there are a lot of others who are going through the same situation and would appreciate the response also.
Naturally I will keep your name and information confidential.
Send them to Jeffrey@GetGame.Biz
Do you have questions you need the answers to right now? Email them to me and I’ll answer them in the blog.
I am sure there are a lot of others who are going through the same situation and would appreciate the response also.
Naturally I will keep your name and information confidential.
Send them to Jeffrey@GetGame.Biz
Develop Your Restaurant's Concept First
Reprinted from an article in Food Industry News, November, 1995
It is important to have a dynamite concept if you are planning to open a new restaurant. Whether or not you are an old hand at the restaurant game or a neophyte you must start with a concept. Only if you plan to buy an existing restaurant to continue operating it as is, or if you are planning to operate a franchise can you ignore this most important task.
It is crucial that you have a suitable concept. By concept I mean the over all vision of the menu, what you will serve, your services, how and who will do it, the ambiance of how the facility will look, and what impression it will make on the customers the first time they come in and repeatedly thereafter. Finally, how will you treat your customers and what impression will they carry home of you and your staff? For the restaurant to work effectively its important that all of these elements work together. This vision of working together is what is called the Concept Unification Plan (CUP).
CUP should try to address these issues:
1. The concept be as unique as possible to separate you from the competition.
2. The dining concept is developed directly with the theme in mind and is incorporated into it immediately.
3. It must be easy to recognize and understand.
4. All elements of the system are aimed at customer service, satisfaction and perceived value.
5. The food should be designed to be prepared in a timely manner reflecting the type of service (fast food or leisurely).
6. The food should be presented to the customer promptly and in an appealing manner.
Unless you have made a comprehensive study of design, it is crucial that when this is ready to be presented to the public, the restaurant's appearance and how the food is prepared and delivered should fit together so as to reinforce one another.
It is advisable to have a professional, experienced in creating concepts that work, participate with you at this time in the development of your concept planning. With professional help, what you want and need, can be accomplished in a timely fashion at a minimum cost with little or no loss of momentum.
If you have questions regarding concept development (CUP), I'm only a phone call away.
It is important to have a dynamite concept if you are planning to open a new restaurant. Whether or not you are an old hand at the restaurant game or a neophyte you must start with a concept. Only if you plan to buy an existing restaurant to continue operating it as is, or if you are planning to operate a franchise can you ignore this most important task.
It is crucial that you have a suitable concept. By concept I mean the over all vision of the menu, what you will serve, your services, how and who will do it, the ambiance of how the facility will look, and what impression it will make on the customers the first time they come in and repeatedly thereafter. Finally, how will you treat your customers and what impression will they carry home of you and your staff? For the restaurant to work effectively its important that all of these elements work together. This vision of working together is what is called the Concept Unification Plan (CUP).
CUP should try to address these issues:
1. The concept be as unique as possible to separate you from the competition.
2. The dining concept is developed directly with the theme in mind and is incorporated into it immediately.
3. It must be easy to recognize and understand.
4. All elements of the system are aimed at customer service, satisfaction and perceived value.
5. The food should be designed to be prepared in a timely manner reflecting the type of service (fast food or leisurely).
6. The food should be presented to the customer promptly and in an appealing manner.
Unless you have made a comprehensive study of design, it is crucial that when this is ready to be presented to the public, the restaurant's appearance and how the food is prepared and delivered should fit together so as to reinforce one another.
It is advisable to have a professional, experienced in creating concepts that work, participate with you at this time in the development of your concept planning. With professional help, what you want and need, can be accomplished in a timely fashion at a minimum cost with little or no loss of momentum.
If you have questions regarding concept development (CUP), I'm only a phone call away.
Friday, June 23, 2006
9 Charged in Identity Theft of Restaurant Patrons
LA Times
Eight people have been arrested and another is being sought on suspicion of stealing more than $1 million by "skimming" account information from the debit cards of dozens of customers at three Southern California restaurants, federal authorities said Wednesday.
Read Article
Eight people have been arrested and another is being sought on suspicion of stealing more than $1 million by "skimming" account information from the debit cards of dozens of customers at three Southern California restaurants, federal authorities said Wednesday.
Read Article
Wednesday, June 21, 2006
2 days that could just change your life!
I always ask the question; "What are you willing to do today to become more successful tomorrow?"
So next month, on July 17th & 18th you and I will get the opportunity to work on your restaurant together and create a GamePlan for moving it to the next level! I will be conducting my first "whiteboard session"! A "no holds barred" chance for you to get together with a couple of whiteboards, 14 other owners and operators along with myself here in Dallas to create a GamePlan for moving your business forward.
There will be no agenda other than the one you create from the areas of your operation you want to discuss over the two days. Also, since small groups accomplish more in a shorter timeframe, I am limiting it to only the first 15 people who respond. It can be you and your GM, spouse, partner, whomever. But I will only accept 15 people.
The price for the two day sesion is $299 per person. If you're a coaching client your price is only $199 I have had so many requests for this that I seriously expect the slots to be filled by the end of today. Right now, I have no plans for another one any time soon. I am just way too busy traveling the country coaching clients.
Visit the link for the sessions here!
So next month, on July 17th & 18th you and I will get the opportunity to work on your restaurant together and create a GamePlan for moving it to the next level! I will be conducting my first "whiteboard session"! A "no holds barred" chance for you to get together with a couple of whiteboards, 14 other owners and operators along with myself here in Dallas to create a GamePlan for moving your business forward.
There will be no agenda other than the one you create from the areas of your operation you want to discuss over the two days. Also, since small groups accomplish more in a shorter timeframe, I am limiting it to only the first 15 people who respond. It can be you and your GM, spouse, partner, whomever. But I will only accept 15 people.
The price for the two day sesion is $299 per person. If you're a coaching client your price is only $199 I have had so many requests for this that I seriously expect the slots to be filled by the end of today. Right now, I have no plans for another one any time soon. I am just way too busy traveling the country coaching clients.
Visit the link for the sessions here!
Tuesday, June 20, 2006
Technomic's Annual Survey Sheds New Light on Bar Sales at Chain Restaurants
CHICAGO----June 20, 2006--Alcoholic beverages play an important revenue-generating role at roughly half of the Top 500 chain restaurants in this country. In its most recent survey of the largest chains, food industry consultancy Technomic found that 236 of the Top 500 concepts, or 47 percent, sold wine, beer, and/or spirits.
Source: http://us.rd.yahoo.com/dailynews/rss/search/restaurants/SIG=11rodmj90/*http%3A//biz.yahoo.com/bw/060620/20060620005124.html?.v=1
Source: http://us.rd.yahoo.com/dailynews/rss/search/restaurants/SIG=11rodmj90/*http%3A//biz.yahoo.com/bw/060620/20060620005124.html?.v=1
Friday, June 16, 2006
Thursday, June 15, 2006
Restaurants are now to blame for dandruff too!
The FDA has released a 136 page report prepared by the Keystone Center that advises the food portions served in restaurants are contributing to the nation’s obesity. The FDA is said to be pressuring restaurant owners to reduce the size of the shares served to patrons
Consumer Reports' Top Chain Restaurants
The new issue of Consumer Reports lists the hottest chain restaurants for great dining experiences — as well as the ones you want to avoid. The rankings are based on information from 149,000 meals eaten by 66,000 readers at restaurants across the country, and you may not have heard of some of the restaurants at the top of the list.
10 Tips For Picking Your Next Location
AllBusiness.com
Full service and multiunit restaurants can expect big growth this year, but finding prime restaurant sites will be harder then ever. Brian Stys, v.p. of the restaurant group at Shawmut Design and Construction, shares 10 tips for picking your next location.
Read Article
Full service and multiunit restaurants can expect big growth this year, but finding prime restaurant sites will be harder then ever. Brian Stys, v.p. of the restaurant group at Shawmut Design and Construction, shares 10 tips for picking your next location.
Read Article
Wednesday, June 14, 2006
More insanity!
Doctor and Consumer Group Sue KFC Over Trans Fat in Cooking Oil
Source: http://www.restaurantnewsresource.com/article22705.html
Source: http://www.restaurantnewsresource.com/article22705.html
Get a coach now or your competition just might beat you to it!
Executive coaching yields ROI nearly six times its cost, according to a new study from consultancy N2growth. Executives who received such guidance estimated its value at nearly six times the expense.
Most of the returns came in the form of productivity (cited by 53% of those surveyed); work quality (48%); organization strength (48%); customer service (39%); reduced customer complaints (34%); retention rates among those receive coaching (32%); cost reductions (23%); and bottom-line profitability (22%). The study was conducted among 100 executives, primarily from Fortune 1000 companies. Most held positions of vice president or higher.
So after a nearly 100% tax deductible expediture for coaching, users got back a 6 fold return on their money. This included productivity gains, work quality inprovements, a stronger business, better guest service, reduced guest complaints, better staff retention and let's not forget improved profitability!
Couple that along with a 100% guarantee and you wonder why everyone doesn't have a coach working with them? I wonder about it constantly because I just don't get it. This is the biggest single thing an owner could do to improve and yet they are always skeptical about the need for one!
Let's hope I don't start working for your competition!
Most of the returns came in the form of productivity (cited by 53% of those surveyed); work quality (48%); organization strength (48%); customer service (39%); reduced customer complaints (34%); retention rates among those receive coaching (32%); cost reductions (23%); and bottom-line profitability (22%). The study was conducted among 100 executives, primarily from Fortune 1000 companies. Most held positions of vice president or higher.
So after a nearly 100% tax deductible expediture for coaching, users got back a 6 fold return on their money. This included productivity gains, work quality inprovements, a stronger business, better guest service, reduced guest complaints, better staff retention and let's not forget improved profitability!
Couple that along with a 100% guarantee and you wonder why everyone doesn't have a coach working with them? I wonder about it constantly because I just don't get it. This is the biggest single thing an owner could do to improve and yet they are always skeptical about the need for one!
Let's hope I don't start working for your competition!
Tuesday, June 13, 2006
Simply Amazing!
It never ceases to amaze me how WOM transcends all other forms of marketing.
We now have subscribers in all 50 states! Even bigger, is the fact that the GetGame.Biz website and blogs are now read in over 22 countries around the world! My Really Cool Restaurant Marketing Blog is now ranked in Technorati's top 100! And, we have over 14,000 visits to the sites each month with our coaching systems and programs helping owners and operators literally all over the world be more successful!
Thanks for your confidence! And don't forget to keep sending those emails and letting me know what you need to learn, see or understand better in order to have more fun, making more money!
Jeffrey
We now have subscribers in all 50 states! Even bigger, is the fact that the GetGame.Biz website and blogs are now read in over 22 countries around the world! My Really Cool Restaurant Marketing Blog is now ranked in Technorati's top 100! And, we have over 14,000 visits to the sites each month with our coaching systems and programs helping owners and operators literally all over the world be more successful!
Thanks for your confidence! And don't forget to keep sending those emails and letting me know what you need to learn, see or understand better in order to have more fun, making more money!
Jeffrey
Thursday, June 08, 2006
I'm Baaaaaaaaaaaaaaaack!
Hey Friends!
Just a note to let you know that we are back from our first vacation in 2 years and you will start to once again see my postings about every issue concerning our businesses on the website as well as each blog.
I have a ton of articles, information and downloads to share with you so check back daily – or better yet sign up to receive my posts via email!
I hope you are all enjoying increasing success!
Jeffrey
Just a note to let you know that we are back from our first vacation in 2 years and you will start to once again see my postings about every issue concerning our businesses on the website as well as each blog.
I have a ton of articles, information and downloads to share with you so check back daily – or better yet sign up to receive my posts via email!
I hope you are all enjoying increasing success!
Jeffrey
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