Restaurant Accounting: For Profit's Sake, Inventory Your Food Cost!
The food is great, the service fabulous and the restaurant is busier than ever - but are you wondering why the bottom line isn't all it should be?
Check your FOOD COST. A vital ratio - key to the success of any restaurant as it directly impacts profitability. A profitable restaurant typically generates a 28%-35% food cost. Coupled with labor costs, these expenses consume 50%-75% of total sales. Because of the impact food cost makes on an operation, food cost is one of the first things we examine at a troubled property. Beyond the bottom line, food cost also reflects an operation's food quality, value provided to the customer, and management skill level.
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Leadership Exercises to Encourage Employee Development
Studies have found a correlation between employee engagement and organizational output, leading many forward-looking companies to invest in methods of engagement through interpersonal activity when attempting to encourage employee development.
Implementing a Leadership Development Program for Your Business
Leadership development is a systematic approach to expanding the performance capability of individuals in leadership roles within your organization. And like any approach, it’s not achieved through a single stage or step but rather through a journey. This journey is the process of leadership development.
Principles of Creative Leadership
When properly managed, creativity can be found in any employee, regardless of the job description. On the whole, creative people typically fall into a variety of categories, ranging from those who are quick and dramatic to people who are careful and quiet. But one thing remains true of all: most creative ideas are not flashes of inspiration in an individual’s head but rather come from how people identify, create, store, share and use the knowledge they’re exposed to in their surrounding environment.
And fostering that environment (not the act of creativity itself) is the task of creative leadership.
Tips for Maximizing Employee Potential
As a manager, maximizing employee potential should be one of your top priorities. Disgruntled, idle workers who do the bare minimum are dead weight for your company. Each employee you hire should be considered an investment in the company. Being able to push your employees to the maximum potential (without breaking them, of course) will enhance your entire company’s productivity and efficiency. Here are some ideas to help your workers be the best that they can be – and not hate you in the process.
Effective Ways to Foster Innovation
Employee creativity and innovation are essential for the success of any business, particularly in times of economic turmoil. There is a clear connection between employee engagement and innovation according to a 2006 Gallup poll. Engaged employees are more creative and more willing to accept innovative ideas from others. Most CEOs value creativity, and employees who are allowed to be creative are more engaged with their current positions. A company’s culture can either foster or stifle innovation. Fortunately, business leaders are able to shape a more creative work environment if they follow a few basic guidelines.
Creativity and Innovation in the Workplace
There was a time when the concept of creativity was only associated with writers, painters, musicians and similar people in artistic professions. But with the ever-increasing necessity of cultivating a unique brand personality, the need for creative thinking has transitioned from the arts into everyday business. In addition, the act of producing a product that distinguishes itself from competitors in a marketplace where differences are often hard to come by demands a high degree of creativity both in innovation and marketing.
As a result, it’s now become commonplace for companies – both large and small – to adopt policies that foster creativity and thereby promote innovation.
But what is meant by creativity? And how can it be harnessed effectively?
Selecting Insurance Plans Using Needs Analysis
Knowing how much insurance you will need as a small business owner can be a challenging endeavor. Nevertheless, having the appropriate insurance policy can save a small business a lot of money.
Needs analysis can give you a better idea of what kind and how much insurance would be the optimum for your business. Of course, buying liability, property and health insurance, in addition to Workmen’s Compensation, can be quite expensive, so assessing your business’ needs and what kind and how much insurance can be crucial.
Effective Sales Techniques for Small Business
You must believe in what you are selling. Be passionate about your business and your customers will be excited too. As you build your sales team, keep in mind that every person has a unique method of selling that suits his or her personality. Train your staff on how to handle the special customers that may require special care.
Internet Marketing Methods for Small Businesses
Building a website is just the beginning of marketing your business on the internet. Retail stores advertise in many ways to get live customers to walk through the door. Your site is a cyber door and you still have to advertise to get customers to enter.
Tips for Protecting Your Intellectual Property
Every great business starts with a “perfect” idea. In the fast moving, dog-eat-dog world of corporate business, however, ideas are stolen, duplicated and imitated as soon as they are conceived. If you have that million dollar idea, how can you go about protecting it while still attracting the attention of prospective investors?
Leadership development is a systematic approach to expanding the performance capability of individuals in leadership roles within your organization. And like any approach, it’s not achieved through a single stage or step but rather through a journey. This journey is the process of leadership development.
When properly managed, creativity can be found in any employee, regardless of the job description. On the whole, creative people typically fall into a variety of categories, ranging from those who are quick and dramatic to people who are careful and quiet. But one thing remains true of all: most creative ideas are not flashes of inspiration in an individual’s head but rather come from how people identify, create, store, share and use the knowledge they’re exposed to in their surrounding environment.
And fostering that environment (not the act of creativity itself) is the task of creative leadership.
As a manager, maximizing employee potential should be one of your top priorities. Disgruntled, idle workers who do the bare minimum are dead weight for your company. Each employee you hire should be considered an investment in the company. Being able to push your employees to the maximum potential (without breaking them, of course) will enhance your entire company’s productivity and efficiency. Here are some ideas to help your workers be the best that they can be – and not hate you in the process.
Employee creativity and innovation are essential for the success of any business, particularly in times of economic turmoil. There is a clear connection between employee engagement and innovation according to a 2006 Gallup poll. Engaged employees are more creative and more willing to accept innovative ideas from others. Most CEOs value creativity, and employees who are allowed to be creative are more engaged with their current positions. A company’s culture can either foster or stifle innovation. Fortunately, business leaders are able to shape a more creative work environment if they follow a few basic guidelines.
There was a time when the concept of creativity was only associated with writers, painters, musicians and similar people in artistic professions. But with the ever-increasing necessity of cultivating a unique brand personality, the need for creative thinking has transitioned from the arts into everyday business. In addition, the act of producing a product that distinguishes itself from competitors in a marketplace where differences are often hard to come by demands a high degree of creativity both in innovation and marketing.
As a result, it’s now become commonplace for companies – both large and small – to adopt policies that foster creativity and thereby promote innovation.
But what is meant by creativity? And how can it be harnessed effectively?
Knowing how much insurance you will need as a small business owner can be a challenging endeavor. Nevertheless, having the appropriate insurance policy can save a small business a lot of money.
Needs analysis can give you a better idea of what kind and how much insurance would be the optimum for your business. Of course, buying liability, property and health insurance, in addition to Workmen’s Compensation, can be quite expensive, so assessing your business’ needs and what kind and how much insurance can be crucial.
You must believe in what you are selling. Be passionate about your business and your customers will be excited too. As you build your sales team, keep in mind that every person has a unique method of selling that suits his or her personality. Train your staff on how to handle the special customers that may require special care.
Building a website is just the beginning of marketing your business on the internet. Retail stores advertise in many ways to get live customers to walk through the door. Your site is a cyber door and you still have to advertise to get customers to enter.
Every great business starts with a “perfect” idea. In the fast moving, dog-eat-dog world of corporate business, however, ideas are stolen, duplicated and imitated as soon as they are conceived. If you have that million dollar idea, how can you go about protecting it while still attracting the attention of prospective investors?
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