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Little Johnny, Restaurant Marketing, and Fed Bailout Package

Little Johnny, Restaurant Marketing, and Fed BailoutOur educational system does a poor job of preparing Little Johnny to become a successful restaurant owner.

Little Johnny gets a good mark every time he gives a memorized answer (the only possible “correct” answer) to the teacher’s question.

Little Johnny doesn’t get a good mark for asking the right question in the first place. The kind of question that may have more than one correct answer. Or the kind that cannot be answered today (but it’s essential that you keep asking it because if you do, the answer will one day find you — and that will be the day of a major breakthrough in your business).

Henry from Nova Scotia is asking,

“How am I going to compete in this economy?”

This is a very good question.

Because the question that most other restaurant owners are asking right now is, “How is my restaurant going to survive in this economy?”

And it is my utter hope that the question Henry is really asking is, “What can I do today to win in this economy?”

You see, much as a sports team that plays “not to lose” has absolutely no chance of winning, a restaurant that is just trying to survive is certain to go under.

You gotta play to win!

The restaurants that are going to win are the ones that demonstrate the following traits:

  • They work on the basics every day and, no matter how slightly, they consistently outdo their competition.
  • They treat their regular customers as kings and queens, create good reasons for them to come back, and have a process in place of turning first-time guests into regulars.
  • They have created several reliable and measurable ways of attracting new restaurant customers.

And since we’re talking economy here, it’s important to understand what this whole Fed Bailout deal really means to you as a restaurant owner.

Here’s the skinny:

There are issues in the economy that have not been created overnight and it’s going to take time to get them undone. Most likely, we are yet to see the worst of it. What the Bailout Package did was prevented the really bad things from happening to us really fast. It gave us more time to fix our businesses so as we could come out on top, no matter what the future holds for us.

Here’s what Napoleon Hill wrote in the 1930’s:

THE “depression” was a blessing in disguise. It reduced the whole world to a new starting point that gives every one a new opportunity.

And this could be your new opportunity.

Little Johnny asks straight questions that everyone else finds awkward or is afraid to ask. Maybe it’s time you did a Little Johnny on your restaurant business:

  • “How can this crisis be an opportunity for me and my restaurant business?”
  • “What can I do right now to insulate my restaurant business and customers from the competition?”
  • “How can I make my restaurant truly unique and special?”

See how this works?

Next time, I am going to explain why you don’t have to be 54 times better than the next restaurant to make 54 times the money they do.

Don’t Be A Restaurant Owner

Restaurant Owner vs Strategic Business OwnerSteve in Florida is writing…

Hello, I am based in Miami and have been following the <type of concept> that seems prevalent in CA and almost non-existent here in South FL. I am a business person who is seeking to open such an establishment … I do not have experience in the food industry but would be “passionate” about starting this kind of concept here in FL. With this said, would you happen to have any advice in starting things up (other than the usual stuff such as money, etc.)… I’m looking for investors yet but more importantly… looking for some “wisdom” from veterans of the biz who have been in the “trenches”.

Thanks,

Steve

Okay, Steve. Congratulations on having a dream that is big and a passion for the restaurant business that is contagious.

As for the restaurant business “wisdom” piece, here’s a little something I want you to take to heart. (And it applies equally to those who are just starting out and to those who have been running a restaurant for decades.)

Here it is:

Don’t be a restaurant owner.

Be a Strategic Business Owner.

I could — and one day I will — write an entire book on this subject. Until then, here’s the “skinny” for you, the 9 traits that make your restaurant success more probable (those in the right column):

Restaurant Owner Strategic Business Owner
Tactical Strategic
Spends most of the time working “in” the business Spends most of the time working “on” the business
Assumes better food and service will cause customers to beat a path to his door Has a marketing plan in place and creates special reasons for customers to come back
Thinks “everyone” needs his food and “everybody” should want it Has a clear picture of “ideal customer” and knows exactly what these people want and don’t want
Considers the equipment in the kitchen, the furniture in the dining room, and the building the restaurant is in the biggest assets his restaurant has Knows that the customer list is his business’ biggest asset, is a freak about adding more customers to it all the time, and follows up with them relentlessly
Can’t see any other way to make more profits in his restaurant other than sell more food His mind is open to creative ways of adding more value-added goods and services that customers happily and eagerly buy
Is focused on building a “transactional” income Is focused on building a “relationship” income
Tries to win in the marketing game all by himself Is always on a lookout for profitable joint venture opportunities with other local businesses
Owns a job Owns a real business

Some of these may appear cryptic. Many may seem to fly in the face of the “restaurant marketing” common sense.

So they are and so they do.

We’ll expand on these in our future newsletters. Until then, print out this list and post it in a place where you’ll see it often. The more you read these, the more sense they will make to you. And the better you understand them, the greater your chances will be of creating a successful and profitable restaurant business.