Archive for November, 2010

Do You Have “IT”?

Tuesday, November 30th, 2010

Do You Have "IT"? Your EST Concept

Consumers now have more choice than ever before. We are wired to seek out the “EST”- the FastEST, the CoolEST, the CheapEST, the NewEST, the BiggEST. Why would anyone waste their time/money on a third rate option?

Taking my children out, I go to the kid FriendliEST. Some seek out the HealthiEST, while others, the GreenEST. We all have different needs and preferences, but when spending our precious dollars, we feel we deserve the bEST!

The busiest restaurants we work with not only understand their EST proposition; they build their businesses around it.

Typically, businesses that are underperforming do not have an EST Concept. Or, they have one but don’t execute it. OR worst of all, they think they have one, but the market disagrees.

Just because you claim that you are the “EST” does not make it so! Want to find out if you have an “EST Concept” and/or what it is? (I warn you, you might be shocked!)

Send an off-duty staff member or friend out to 10 other businesses in the area (the gas station, the jewelry shop down the street, etc). Tell her to act like a tourist, asking others why she should or shouldn’t visit your venue. Have others describe YOUR offer. Then, have that same person play the tourist role again, and ask 10 of your customers, as they walk out the front door, to help her make up her mind as to whether or not she should making a booking at your venue that evening.Another way to determine this is to ask 20 staff members what your venue is 'known for.'

Have her write down all of the responses and return them to you. Within 90 minutes, you could find out exactly how the market views your offer – your EST Concept.

Share your thoughts or results in the comment section below,

Sean Finter

A Thanksgiving Tip

Wednesday, November 24th, 2010

A Thanksgiving Tip
For our American readers and anyone else who feels the need to celebrate this weekend!

Appreciation Circle

As managers, we work hard, and often too much. This makes it all the more important to make the most of the time we have with our family and friends – to truly CONNECT.

I will share with you all a quick exercise that I taught a couple of years ago. This 3-minute exercise has changed the dynamics of my gatherings with family and friends.

It is called the Appreciation Circle and here is how it works:

When everyone is together (perhaps around the table), get their attention and start an “Appreciation Circle.” This is as simple as choosing a person and sharing with them what you value most about them.

Here are two examples of how to do this:

a) Choose one person to honor (say, the host, the eldest, or someone who needs a boost!) and YOU start off by saying,

“Sara, one of my fondest memories of you is when you were the first person to visit me when I moved to DC. It meant so much to me.”  Then continue around the circle 2 or 3 times.

b) Or, include everyone by taking turns, going around the table, and telling the person to the left one kind thing about them (then that person comments on the person to their left).

This works equally well at management/staff meetings! Try it!

e.g., “Uncle Mike, one of the things I value most about you is the positive energy you always bring to the room!” Then, turn to your right and go around the circle the other way.

This may sound a little odd (at least it did to me), and might be a little awkward getting started, but I can promise you that it will bring huge value to your gathering and deliver a new level of meaning.

Happy Thanksgiving!,

Sean Finter

Discovering Your Next All-Star

Tuesday, November 23rd, 2010

Interviewing Your Next Manager Separate Great Managers From 'Maintainers'

Our success depends on us continuing to find and develop great management.

I have read thousands of resumes and they all look the same; they tell me WHERE a person worked and for HOW long (often even this data is inaccurate/embellished!). What resumes fail to address is WHY the candidate is a manager in the first place, WHAT changes/results they have been responsible for and WHOSE life/business they have improved as a result.

Addressing the “why, what and who” during an interview usually uncovers that managers who claim to have “10 years experience” actually have ONE YEAR’S experience 10 times over.

That’s right; most managers don’t actually “manage,” they simply maintain. Somewhere along the way, they become consumed by the URGENT work of hospitality management and fail to set aside time for the IMPORTANT work of developing people, processes, and concepts.

Most interviews are like first dates...I encourage you to inquire about this at your next interview. You will hear that, “I was not given time to do that kind of thing,” “That was not a priority for my previous employers,” or “There was no budget for those sorts of activities.”

All valid excuses, and maybe the truth. But GREAT MANAGERS find a way to deliver on the WHY, WHAT and WHO, regardless of their circumstances.

To your success,

Sean Finter

Helping or Hurting Your Business?

Tuesday, November 16th, 2010

Helping or Hurting Your Business? Giving Away FREE Drinks
Recently I asked a colleague about a local pub. “I don’t drink there anymore,” he boldly stated. His reason: “The managers there used to buy me drinks all the time… then they started taking my patronage for granted.”

FREE BEER!

It seems crazy, giving away free product and creating ILL WILL in the process? I have never understood this practice. In giving away drinks, you devalue your offer and create an ENTITLEMENT MINDSET amongst your best customers.

Am I saying that you should never give anything away? No.

What I am saying is that, when you do, it should be a noteworthy experience, not a simple void. Think of it this way; if you comp two beers that would have been otherwise paid for, you GIVE UP $8 IN REVENUE. You could blow someone away for $8 and create invaluable word of mouth!

Some examples:

Instead of giving away beer you could:

1. Bring out an appetizer that has just been put on the menu and say, “Mike, I really value your opinion. Try this and let me know what you think.”

2. Offer her a $20 gift certificate to bring her husband in for dinner (at a 30% COG you are still ahead).

3. Give him an $8 t-shirt, turning him into a loyal walking billboard for your business!

I want to hear YOUR thoughts! Click the comment button. -Sean

Any one of the examples above would be MUCH more meaningful to me as a consumer, and I am willing to bet that most (if not all) of your regulars would feel the same way.

Be REMARKABLE by doing remarkable things,

Sean Finter

Would You Be Disqualified?

Tuesday, November 9th, 2010

Would You Be Disqualified?

The Four Referability Habits

Dan Sullivan, from Strategic Coach, outlines the 4 simple habits that make you referable:

1. Show up on time.

2. Do what you say.

3. Finish what you start.

4. Say please and thank you.

Tip: At your next management meeting, rate each other on how referable you are.

As easy as these sound, they require remarkable discipline to execute on a daily basis. Practicing these habits have been a great guide for me in my own career.

I have used these questions to screen candidates when helping bar/restaurant owners hire for key management positions.

What I have found is many people disqualify when I ask their employers if the candidate exemplifies all 4 habits; and plenty of others disqualify when I ask their teammates if they do…

Would your team answer YES to all 4 questions about you?

Onward and upward,

Sean Finter