STAFF: Leaders lead: Be a better listener [Hack #045]
Here’s a super simple hack to improve your listening skills. Don’t focus on what you are going to say next. Instead focus on what is being said to you. Actually pause when the person is finished speaking and playback what they said. Learn more!
DID YOU KNOWS…
Most Valuable Teams
Of all 32 countries taking part in the FIFA world cup, Brazil will send the most valuable team to Russia in 2018. German transfer market portal Transfermarkt estimates that the 25 players on the team have a combined market worth of 673 million euros. Germany and France share the second spot. See the whole top 10 list .
Boozing in Belgium
Belgium is well known for its beer culture. Apparently, a team of experts counted close to 1600 different beers in 2015. So, maybe it shouldn't come as a huge surprise that the Belgians consume the most alcohol of 38 countries surveyed by researchers at Ipsos. Here are the rest of the booziest countries in the world
Nakazawa Wage Theft
Former staff of Sushi Nakazawa are suing the Japanese restaurant for wage theft. According to the complaint, the restaurant failed to give wait captains appropriate notice that they would earn tipped minimum wages rather than the higher full minimum wage, as well as ineligible shared gratuities with other staff members. More on Eater.
FUTURE STREAM
Why it matters to you: ESPN may cut its own cord soon.
If you haven’t heard, viewers are cutting the cord in record numbers. Last month alone ESPN lost 100,000 subscribers and Fox Sports 1 lost 199,000. It should come as no surprise that built into the Disney/ESPN plan is an effort to deliver a dedicated content package via internet streaming. It appears that Disney is doubling down on that same content approach by attempting to buy 18 Fox Sports Regional Networks (FSDET, FSSouth, FSFlorida, etc) from 21st Century Fox. It’s a content play, and they are convinced that by owning even more broadcast rights they will have a powerful hold on sports viewing nationally.
Some have asked why they would bother with regular broadcast stations, but if you understand the ESPN approach it’s really no surprise. They have been collecting rights for years. They realized a long time ago that sports is the only place that appointment viewing is still an inherent part of consuming the content. Unlike a dramatic TV production, sports are only relevant until they have been played and while the game occurs. By dominating the content rights, they guarantee they have assets that put people in front of their advertising. Plus with Disney’s purchase of MLBam Tech, they will be able to package these broadcasts for standalone streaming platforms. Streaming is coming and Disney is certainly positioning themselves as THE place to access the games fans want to watch.
BIGGER AIN’T ALWAYS BETTER
Why it matters to you: Are you using your footprint efficiently?
National chains are constantly trying to refine their operations to both maximize their profitability, but also to ensure they match the demographic of the market. Dave & Buster’s is doing just that with several of the units slated for opening in 2018. While the average operator would still believe a 30,000 square foot location isn’t small, D&B normally builds joints that go over 40k feet. They are using a very thoughtful rationale to determine where they build smaller outlets -- local population. This is a cautionary tale that was played out by the failure of ESPNZone over the past several years. They built enormous outlets in locations that simply couldn’t deliver the traffic to support their investment.
While most of our readers can’t just change their footprint, there are always ways to better utilize your existing space. Also, a footprint change can also mean expanding as well as contracting. Whether you decide to add an outdoor seating area or convert part of your space to deliver a service independent of your restaurant like carryout/deliver-only center, it is never a bad time to review your sales per square foot and research ways to maximize your space usage.
