I am sure there are a whole lot more topics to touch on but these were just some that came to mind while recording this podcast
Let me begin by talking about the hours. I think in the beginning, I opened at 8 o’clock in the morning and maybe closed 10:30 pm on our work days. We were closed on Mondays for maybe 3-4 yrs; I did this so that I could have one day off to rest. So in the beginning it was from Tuesday to Sunday.
Weekends are tough as those are our busier days – that means friends party, events, and weddings have to be sacrificed or compromised.
Now let’s look at other major concerns:
- Customer acquisition cost is very high
- Headaches not limited to – customer issues, staff issues, bad supplies, equipment breakdowns, government regulations and policies, insecurities from comparison with competitors
- Your friends wont keep you in business,
- Get feedback from customers
- Not all Customers feedback should be worked on
- Put structures in place and always go back to improve on it
- Have standards of operations
- Constantly Recruit
- Cross train your staff, build redundancies, Many will fall off
- Fire quickly and higher quickly and slowly ( yes its that complicated)
- Have a thick Skin
- Manage the Stress
- You might have to cancel some products, change certain menu items, and look forward to pushing new products
- What ever product you are pushing endeavor to have back up options
- Check supplies to make sure it meets your specifications and standards
- Inventory management and control is key
- You can get a software for inventory management and get a staff to manage it
- Landlord is another issue; if you are going to invest in a space, make sure that your time-frame worth the stress
- Security is also something you have to worry about; depending on where your location is
- you can factor how much sacrifice you want to make but you almost have to have a strong presence in your business for a long time to make sure that there’s nothing funny is happening in your restaurant
- You almost have to decide if you want to be the face of your brand or you want the brand to stand by itself
- Think that, if you are the face of your brand you are going to lose a lot of privacy
- You have to build your business to have its own identity and have its own loyal customers
- Don’t be afraid of failure rather learn new things from it.
- Avoid insecurity and never give up
- Be willing to try to know more and network with people in the same or similar business as you
- Learn how to manage employees
- You sure have to put in your time and work hard in the early days of your business to build it rightly.
listen to the Podcast