I was reading a business article today referring to 10 signs that your business is failing. As not all pertain to the restaurant industry, many do so I would like to share them with you. I have adjusted them to pertain specifically to restaurants. 1. Inability to pay your bills on time Paying your suppliers is just as important as paying taxes. Without them you don't have a product to sell. Yes you can rob Peter to pay Paul, but this will not end so well for you in the long run. If you are getting too far behind, the first steps a supplier will do is cut your credit terms, freeze your account, or eventually go to a cash on receiving basis. Either way, the rule of thumb for any restaurant is
Communication is the most important concept in any successful business. It doesn't matter if you are running Microsoft or Tony's Pizza Parlour down the street, in business, people are the number one commodity. It may be your customer, staff, or vendors, but the only way to emulate your vision or achieve the results you want, starts with communication. As important as communication for getting things done, it can also be one of the biggest obstacles in achieving your goals. We sometimes fail to properly communicate how and why we want something done or a miscommunication leads to confusion and ultimately a mis-execution of the businesses vision and brand. Over the years, I have found, the mos
