In the last installment of our series on growth and expansion for your restaurant business, we look at one of easiest tasks to accomplish: Listen, and take note. Keeping on top of industry trends—whether you implement them or not—is just as important as building profit.
Knowledge is power. What you choose to do with it is up to you, but in order to position your business for growth and expansion, knowing your advantages and utilizing your strengths is essential.
Eyes wide open. Knowing what’s happening in your business every minute is an advantage most restaurant operators are constantly seeking. And in part 4 of this series, we talked about that with “Knowing your Numbers”. The technology behind the counter can provide you insight to every corner of the restaurant, and position your business for success:
Inventory. If your business is pizza, does your POS inventory solution easily track the ingredients you use, even for create-your-own pizzas and half-and-half orders that pose a challenge for traditional inventory applications? It’s cash on your shelves, and with waste, overstocking, theft and spoilage, you’re looking at significant losses if you aren’t managing it effectively. When you begin to grow your business, inventory management becomes that much more important.
Theft and security. Keeping you protected is key for growth: especially when it comes to employee theft. Recognizing the signs is important; having the tools in place to prevent theft is even better. Read our post: 6 Ways to Prevent Employee Theft in the Restaurant.
Ears to the ground. Listening is just as important for growth as seeing what’s happening inside your restaurant. Whether it’s keeping your employees happy or knowing what your customers want, being a great listener can significantly increase your profits and position you to expand.
Are your employees happy? Happy employees naturally provide better service. If you want your hourly staff to represent your brand with the same care you would yourself, you need to keep them engaged. Listen to them: They’re telling you what motivates them. For more on employee apathy, read our post: The cost of employee apathy: can restaurant technology make employees (and customers) happier?
Listen to your customers, and respond. In our recent post, Listening and Responding to your customers we dive right into the importance of keeping your ears open to what your customers are saying, and the importance of responding to both the positive and the negative. Your loyal customers are where your profits lie, and keeping them happy is integral for business growth.
Now that you’ve read all six parts in our series on growth and expansion, do you feel prepared to grow your restaurant business? Tell us about what you’re doing to position yourself for that next phase!
Posted on Wed, Jul 02, 2014 @ 12:07 PM.
Updated on April 25, 2019 @ 3:13 PM PST.
Posted by Tricia Hoy| Author's website