Importance of planning in restaurant business or any business.
Well this post is not a Restaurant Promo Idea but an example on the importance of palnning in everything we do.
I feel everyone has heard this mantra at a point of their life. The mantra goes like this “If you want to succeed in life, you need to do something you are passionate about“. Mine is the Food and Beverage. So much so that my other half says that she is the second wife, my job is my first wife. Thats true. I can’t stop working. When I am eating out, I always observe what the wait staff do, how food is presented and so on. Even when we stay in hotels, I like to wake up early and walk around the hotel. My wife always say when we are on holiday why can’t I leave my work at home. Even the shows I like to watch are related to the Food and Beverage field. Nowadays after assuming a management position my playlist have increased. I like shows that are related to the management and also marketing field. One such show is the Apprentice reality show with Donald Trump. I not only like to see how they market or complete their projects. You can also get some management and leadership lesson from these type of shows especially from the boss Donald Trump.
Recently AXN started a new Apprentice Series based in Asia. Its on every wednesday and is called of course “Apprentice Asia”. The boss here will be Tony Fernandez. Tony Fernandez is really an inspirational guy. From being in the music industry he bought a failing airline for only RM1 (with a heavy debt attached to it and turn it into one of the best low cost airlines. You can read something about him here My Heroes- People who have inspired me.
Well lets go back with the opening episode of Apprentice Asia. The teams were divided by gender, each team was given the task of selling fish at a market. The team with the highest profit margin wins the challenge. Should be a simple task for a bunch of professionals but they failed misserable. The ladies team lost about RM100 and the men’s team lost RM600.
We will review why the men lost. The main word was STRATEGY.
They didn’t sit down and plan their strategy. When they arrive at the market they quickly set up stall. They didn’t do a market survey, therefore they didn’t know whether they were selling higher or lower. They let the buyers who is very savvy with fish prices dictate the price. They didn’t do a price list based on a profit margin, therefore they sold at a lower price. One of the participants started calling customers eventhough they were not ready. Even Sun Tzu has something to say about planning, its from the first chapter called “Laying Plans”.26. “Now the general who wins a battle makes many calculations in his temple ere the battle is fought. The general who loses a battle makes but few calculations beforehand. Thus do many calculations lead to victory, and few calculations to defeat: how much more no calculation at all! It is by attention to this point that I can foresee who is likely to win or lose.”
From this show, you will see the importance of planning especially when doing a menu. Even the simplest task like selling fish needs to carefully planned. In a previous post I have elaborated the steps in creating your menu.
Coffee Sop Business Plan
Cost Only $147
Tony DiCorpo is a coffee roaster, barista trainer and coffee business consultant. He has authored many articles on coffee and the coffee business. Tony has extensive experience in business and collectively more than 20 years experience in sales, business management, entrepreneurship and the coffee business. The website to go to get his business plan is www.tonys-coffee-shop-business-plan.com