20 steps to a landlord’s financial bliss 2014 and beyond

 

                                                          You

1. Review … You need to step back from the business sometimes and wonder how well are you really doing. Have you got a plan, vision or any lifetime goals in place?

2 Family…Get yourself and your business in a position, so you can spend more time with loved ones.

3. Structure… your week so you get those menial “I don’t like doing these jobs” out of the way. sweep it under the carpet culture allows issues to fester, which means they escalate further down the line.

4. I think I’m rich!!- Whilst cash flow is important, don’t have a counting the cash mentality it’s all about bottom line profit!!

5. Train …yourself or find guidance on taking more calculated risks .following the norm is boring and your customer’s will think so too!!

6. Smile more- if you do not have a customer service procedure, just smiling and saying hi how you are today at your customer and staff is a good start.

7. Trust your team and delegate - Stop thinking you can do everything yourself, it’s simple you can’t!!

8 Motivate -It doesn’t cost an arm and a leg to get the best out your team, a “well done today” can be appreciated by everyone.

                                               Your Business

9. Monitor- the opposition, go and have a meal and benchmark the ambience, service and menu prices is there something you could be doing better?

10 Promote- good referrals on sites like Trip Advisor- by monitoring how well you operate through the eyes of the customers get a mystery audit done.

11 Don’t believe- you’re so good that you overprice menu dishes, it’s easy to get out of sync with the market place…it happens a lot!!

12 Point -your business  offer in the right direction, stop wasting advertising monies targeting the wrong type of customer  just because it’s convenient to do so.

13 Your Message- think of your outlet as a brand, how do customers perceive it, and what emotional state does it evoke with them?

14 Broadcasting- is advertising for big blue-chip companies. Think narrow casting the smaller/closer the target the bigger the bull’s eye.

15 Think- of your website as an information site, and what you can do for the customer.

16 Stop pushing- on social media sites like Twitter, selling your products should only be 10% of the conversation.

17 Entice the customer - with the perception of value -Valentine’s meal £24.95 per person. Free bubbly on arrival, red rose for the lady and chocolates on departure. DON’T DISCOUNT. People love presents.

18 Appreciate - the lifetime customer value and how you can develop different entertainment occasions to drive sales.

19 Think of your marketing- like heartbeats, keep it consistent and repetitive and keep your outlet in the customer’s attention window.

20. End of year accounts- are like dust collectors ,get your business under control so you have weekly or monthly profit and loss information on how much you are really making.

And the good news!!  Project 10k will do all this for you!!, and on a £300,000 business  put 50-80ks worth of turnover and a minimum of 10k profit on your bottom line in year 1.

                      http://www.thepubspecialist.co.uk/business-booster/4582077649

Growing your business 2014 and beyond

Generally landlords have a tough and challenging time of it, time spent,increasing competition and mounting personal pressures that can even strain the most loving of family relationships,if you feel a little overwhelmed your not alone most people feel the same.

That means you  never get to the point where you never extract the potential profit in your business. It basically begs the question do you want to have a better lifestyle, or are you just going to allow these issues to get in the way and carry on making excuses!!.

Slowly but surely the sector is changing for the better,[statutory code etc] and once the big operators realise they have to improve service and treat their customer's better [that's you] everyone in the long term will benefit.

In the meantime you can't wait for things to happen,and you can actually do something about it if you really want to,so take a gulp of humble pie and get positive!!.

The fact of the matter is your probably doing 80% of the stuff correctly, but what happens when you are immersed in the day to day running of the operation, you become blind to the opportunities available to you.

The first step is to know what true reality is. what really are the issues with the paying customers,staff,your market and how you operate.

Sometimes you have to invest to move forward, to allow you to get where you want to be financially even faster. Business coaching will do this and more!!.The problem is our defence mechanism is riddled with scepticism and resistance.

Coaching is for people who can't do it alone
Coaching will make me appear inadequate to my operations team
Coaching is for under performers
Coaching is time consuming
Coaching is expensive.

These are all myths, in today's market even  the big operators are starting to realise and understand that maybe their business models are broken and Business Development Manager's should actually live up to their title and stop acting and working like estate agents.

A study by Manchester INC resulted the key benefits of coaching assistance as follows
Improved productivity           53%
Enhanced quality                   48%
Superior business strength    48%
Superior customer service     39%
Reduced complaints              34%
Reduced costs                       23%  to name a few

So you've got a choice, carry on with that ten ton weight of worry dragging round your ankle or do something about it!!. Your success may just be a phone call away.

                                                              Lester Pyatt
                                                        The Pub Specialist
                                                              Project 10k
                       http://www.thepubspecialist.co.uk/business-booster/4582077649