Achieving Your Goals
Having a clear vision for your restaurant drives the way operators make decisions and set long term goals to give focus to your operation. Coupled with the use of KPI's helps gain insight into how effectively you are in achieving your goals. But what happens when things change? How do you adapt to still achieve your overall vision?
While setting goals and measuring performance aid in giving your establishment an overall direction, achieving your vision can be challenging in an ever-changing environment. The hospitality industry has had to adapt at a tremendous rate to keep up. This is why making micro adjustments to your daily operation is important for year-on-year growth.
Making micro adjustments to drive your Growth.
No two businesses are ever the same. Various factors and external environmental factors effect businesses and operators differently. So how do you adapt? While there is no cookie-cutter template for everyone to follow, learning form others and taking a step back to look at the bigger picture can fast-track your business.
Below are five ways you can make small calculated changes to your daily operation to build on.
1) Learn from your mistakes.
It's never easy to admit you made a mistake. However, making mistakes can be valuable lessons if you can learn from them, gain experience for them and focus on how to fix and prevent those mistakes. Many industry experts gain their experience through a constant wave of failure and success.
Pick up on minor issues early on and try resolve them before they snowball as they often do over a long period of time. Try new things and monitor how these changes affect your day to day operations.
2) Keep your goals flexible.
While your overall vision may not need to change, your goals need to be adaptable - the business world is changing at a rapid pace. Technology and the internet of things have made us a global village. Change in one part of the world can have a drastic affect globally, add the various environmental factors, like COVID, the economy and consumer needs, the way we set goals is changing. Rapid changes in the industry and consumer behaviour requires goals to be more adaptable to see year-on-year growth.
3) Be mindful of your resources.
Limited space, finances and various other operating constraints all affect how quickly your business can grow and impact your profits. Some costs are unavoidable, regardless of whether you operate or not, while others can be offset. Understanding how your resources are being used on a day-by-day bases helps establish where and when you can use your resources more effectively to achieve your goals.
4) Adapt your routines.
Having a routine is vital for time management, saving you valuable time. However, getting too stuck in a routine can sometimes lead to stagnation. By auditing your time and routine regularly you can continue to improve how you and your staff operate during peak times and on slower days.
5) Give everyday the same level of importance.
Many new restaurateurs overlook the importance of making everyday count. Looking only how you do at the end of each month only shows you part of the picture. For example, low profiting days can be absorbed by high volume trading days and times, leaving a lot of money that could have been made off the table.
By making everyday count, rather than only focusing on the days and times that bring in the higher foot traffic, can bring in constant gains for you over time.