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

Business Boost for Pubs

Lester Pyatt –Managing Director Omark Hospitality Solutions has completed the formulation of a new programme due to hit the market after the Easter Holidays.

Lester said “For the past five years I’ve been working on a one to one basis with landlords of various licensed operations absorbing information about their issues and concerns, and creating “done for you” packages to improve productivity, to give more control over their day to day operations and consequently increase their turnover and profit.

I wanted to offer a Business Development Programme that was flexible because landlords have different set skills. A guaranteed return on investment gives piece of mind and dismisses scepticism and apprehension about costly consultancy services.

Whilst the programme will achieve success Pyatt gives a word of caution. “It’s not for everyone. Whilst I’ll impress on the operator that the system gives more control, thus in the longer term making managing operations easier, initially they will need to  adopt a smarter work ethic and make some tough decisions. Unfortunately some do not have the aptitude or tenacity to make it happen”. 

Pyatt notes that the first twelve months are critical for new entrants to the sector where more rigorous “fit for purpose” examination requirements should be administered by Pub companies and governing bodies.  Followed by “on the go” coaching and training programmes which are relevant for today’s competitive market. “We have all seen the carnage and debris due to past “broken” sector systems. Now is the time to put it right”.

“It’s all about raising standards. In five years’ time I hope we have a more concentrated, nimble, agile sector with adept Landlords and Pub Operators focussed on serving their customer’s needs and requirements to mutual financial benefit.

“In the meantime I’m currently in talks with the Institute of Hospitality to attain endorsement for this programme and now have recognition for the Government’s Growth Accelerator Scheme to identify progressive companies and individuals within the pub sector eligible for funded business development and coaching programmes in the Hereford and Worcester post code area.

                                                             Lester Pyatt 

                                                www.thepubspecialist.co.uk

I'll get back to you, or not!!

Im going to start with a bit of a rant!!.
Its aimed at pub operators and organisations within the pub sector.It seems that if your in one of these middle management or director type roles its sector standard not to return calls or get back to confirm meetings within a certain time frame.

Business Development Managers are renowned for this crime as they try and run round, overburdened with a "top heavy" portfolio of clients. Imagine if you had a grumpy customer who had a complaint and you decided to ignore them, certainly an opportinity to be crucified on a site like Trip Advisor.

Maybe there is an opportunity to open a complaints site that deals with poor customer service from pub companies and associates, maybe its not a silly idea after all?.

Woud like to hear from any landlord in the pub sector who's had a similar experience, please leave a comment below.

                                                               Regards Lester

The Pub Specialist’s - 14 Wishes & predictions for 2014 – Pub /Restaurants.

The Pub Sector

1. The Pub sector starts the green shoots of recovery, but realise there are tough decisions to be made.

2. Pub operators get closer to the “”sharp end of the business meaning more support for the landlord.

The Customer

3. More emphasis and focus on the customer is king. [Not just the current lip service we currently provide].

4. Realising consumers are now well trained and adept at seeking the perception of value and they won’t forget it.

5. Connecting and how you connect with the customer will pay big dividends.

6. Smiling will become the new customer service.

7. Customers will want more downtime, but will remain fickle in their selection of entertainment fixes to satisfy their requirements.

Selling

8. Less emphasis on trying to push and sell the product and more on building long lasting relationships.

Staff

9. Staff appreciation that giving lousy service will not be tolerable, and it’s not the boss that pays their wages but the customer.

Internet /Social Media

10. The internet will continue watch you’re every move good or bad- [think Trip advisor].

11. Goal posts will continue to move at an alarming pace in social media, so picking one and doing it well will be the way forward.

12. Visuals will replace boring text think instagram and twit pic

13. With all the current social media noise, people will realise that going back to less populated offline marketing strategies will work wonders.

14 Marketing your business will start to lean towards move media stations- look at what i pad can do for video for a tenth of the original price.

                 Project 10 -Are you ready for an extra £10,000 in your business?

                                      www.ThePubSpecialist.co.uk

                                               please click above

“The Pub Specialist says it’s time for a rethink on training and support”

“The Pub Specialist says it’s time for a rethink on training and support”

A day doesn't go by without an analyst reporting on the latest number of pub closures for it’s an issue upon which everyone has an opinion.  But in the long term could these closures steer a new path for the sector? Would a leaner, concentrated model with focussed, enthusiastic pub companies and more knowledgeable proactive landlords be the way forward?

If so, what is the solution? Running a pub operation already takes a lot of the landlord's time and effort and this limits his ability to develop new business opportunities successfully. Their urgent need for solid business foundations, control strategies in finance, operations, sales and marketing, can thus only be achieved successfully with external support and a reliable business information infrastructure.

The implementation of this support will only happen if the decision makers at board level rethink their business model and apportion budgets to train their Business Development Managers and invest in business development programmes that are relevant and proven to work.

In essence Directors should

• re-focus their efforts and budgetary commitment to training the landlords to a level of business competency required in today's competitive leisure market.

•  introduce more stringent, intensive induction training programmes for new pub entrants.

• have account focussed Business Development Managers trained in current business strategies enabling them to coach and support landlords to mutual benefit.

• encourage more trust and transparency between landlord and pub company in the financial aspects of the business.

It's not all doom and gloom. Customers still enjoy participating in our pub tradition with some good companies and operators. But with a bit of reorganisation it could be so much better for everyone. 

For further information contact Lester Pyatt on 07931 238211

                           www.ThePubSpecialist.co.uk