Tips and Insight to Steer Your Restaurant Business to Success Ep 86

job of a restaurant owner restaurant podcast
restaurant business tools and insights for success

As a restaurant owner and the leader of your business, it is common to feel as if it’s the universe’s job to throw roadblocks in your way to discourage you and impede your progress. I’m here to encourage you and point you toward practical, actionable solutions that will help you overcome these obstacles, such as managing change or mastering the role of being a leader. In this episode of my podcast, The Restaurant Prosperity Formula, I break up the discussion into three distinct segments to help you unlock the full potential of your restaurant. I cover internal challenges, operational hurdles, and external and personal challenges. Whether you're a seasoned restaurateur or just starting out, I want to equip you with the tools and insights needed to steer your restaurant towards greater success and prosperity.

Segment 1: Let’s start with internal challenges – the things in your head and heart that hold back.

It is natural to have a fear of change. How can you overcome it?

  1. Embracing change is essential in the fast-paced restaurant world.
  2. Start small, implementing one new system at a time to show immediate benefits.
  3. Overcome fear by breaking it down into manageable, significant steps.

It’s also very common to hold back on claiming and communicating your vision for your restaurant and your life. How can you overcome it?

  1. Craft a Vision Equation encompassing core values, purpose, and mission.
  2. Regularly communicate the Vision Equation with the team to foster motivation and cohesion.
  3. Becoming an employer of choice involves shared core values and consistent leadership.

I’ve said this before, but just because you own a restaurant, it doesn’t mean you’re a natural-born leader. It takes a lot of work to be a good leader. How can you get better at leading?

  1. Leadership is beyond giving orders; it's about inspiring and guiding the team.
  2. Invest in continuous leadership improvement through workshops, books, or coaching.
  3. Being an effective leader means clear communication, empathy, and leading by example.

Segment two: Your restaurant’s operations have to be specifically directed.

Most restaurant owners I work with have an inadequate training program. How do you get your training in a better place and why does it matter?

  1. A well-trained team is crucial for success.
  2. Develop a comprehensive, ongoing training program covering all aspects of the restaurant.
  3. Regularly update training materials to align with industry trends and internal changes.

If you don’t know your restaurant’s numbers, you ARE NOT ALONE! So many restaurant owners aren’t managing their financials well at all. Let’s talk about how to get better.

  1. Solid financials are crucial; understand key performance indicators (KPIs).
  2. Implement budgets and use accounting software to navigate expenses and revenues.
  3. Regularly review financial reports to proactively manage and make informed decisions.

Operationally, consistency is essential. That’s what the chain restaurants do so well – while they might not have the best food, it’s consistently mediocre. How can you overcome inconsistent quality in your restaurant and why does it matter?

  1. Consistency in customer experience is key to success.
  2. Conduct daily quality audits and train the staff to maintain high standards.
  3. Consistent quality leads to customer loyalty, a crucial element in a competitive market.

Segment three: Don’t let external forces and personal challenges throw you off course.

Customer feedback can be obnoxious, but there are lessons to be learned. Let’s explore why you shouldn’t ignore it and how to handle it.

  1. Actively seek feedback through surveys, comment cards, and online platforms.
  2. Use criticism as an opportunity to refine operations and enhance customer satisfaction.
  3. Ignoring feedback is a missed opportunity for improvement.

Are you experiencing burnout or a real lack of work/life balance? I have so many great answers to this challenge.

  1. Work-life balance is crucial for personal and business success.
  2. Burnout negatively impacts the business; encourage staff to take days off and rotate shifts.
  3. Rested and happy teams contribute to a positive atmosphere and quality service.

Restaurant marketing is the go-to answer for many restaurants. The thought being if you can just bring in more dollars, your problems will be over. But ineffective marketing strategies can be more dangerous than going without a real marketing effort. Let’s talk about why and how to approach it right.

  1. Develop a targeted marketing plan, showcasing dishes and behind-the-scenes glimpses.
  2. Engage with the community, participate in local events, and increase visibility.
  3. Effective marketing tells your story, connects with customers, and differentiates your restaurant.

Overcoming these roadblocks starts with recognition. Each challenge has a solution, and it's up to you to take the first step toward improving your restaurant. Don't be afraid to make necessary changes. Your journey to restaurant prosperity is ongoing, and every step you take is a step towards success. 

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