FINANCIALS: 37 Easy Ways to Skyrocket Your Profits [Presented by Orderly]
Don't be part of the 80% of restaurants that fail in their first 4 years. These 37 No-Brainer Ideas will get your wheels churning and your restaurant earning in no time.
DID YOU KNOWS…
Fires Going Wild
Wildfires in Northern California are now putting the region on track to outpace last year’s deadly fire season, according to the California Department of Forestry and Fire Protection (CAL FIRE). At this point, the number of fires and acreage burned in 2018 is higher than the in the same six-month period last year, totaling far above the five-year average.
Facebook Lands Golden Boy
Oscar De la Hoya’s Golden Boy boxing matches will be streamed live on Facebook Watch. Like its agreement with the MLB, Facebook will air the matches to its global audience. The matches will also run ad-free. The first fight streamed will be the WVA World Featherweight Title between Jesus Rojas and Joseph Diaz, Jr. on August 11th.
Be sure you’re subscribed to the SportsTV Guide, so you know when every sporting event (both on TV and streamed) is airing in your area.
A Whole Foods Union?
While many Amazon customers rejoiced at its purchase of Whole Foods, it’s not panning out so well for staff. Amazon has cut a lot of Whole Foods jobs across the country, specifically those who “filled out chalkboard signs and organized local events.” Now there’s talk of Whole Foods staff unionizing which will make for interesting news as Amazon has a history of squashing union attempts in the past.
RACISM CONSULTANTS
Why it matters to you: Starbucks gets tips from some consultants on how to fix its racism problem and we should all take note.
After the arrests of two black men at a Philly-area Starbucks and their subsequent racial bias training combined with opening of their bathrooms and cafes to non-paying guests, Starbucks has taking a lot steps to ensure nothing subpar happens at their locations. It’s being called a “full-scale racial equity overhaul.” This report comes with several excellent recommendations that we should all take note of (highlighted in this Eater article) that could really help everyone in the industry.
Some of their recommendations are a bit over the top for some establishments but others could really be of help to us all. We particularly like this one:
- Examine its employment practices to “clearly identify any patterns of discrimination and inequity in employee recruitment, hiring, retention, pay, promotion, and grievance procedures”
It’s always tough and unfun to look inward and analyze our own biases, but it’s a good process to go through to ensure we’re being as fair as possible. Are we paying men and women in the same roles the same? Are employees of different races with the same experience level getting the same treatment? Are we cutting names off of the interview list for, perhaps, unfair reasons? Are we taking every complaint from staff with the same care and thought?
These recommendations are far from a panacea for our industry. Sometimes these issues cannot be helped due to the area an establishment might be located but usually they can and should be addressed head on. If nothing else, they serve as a reminder to everyone around us that we can always do better, be more diverse, and handle customer issues the proper way.
KEEPING YOUR EDGE
Why it matters to you: Read what the world’s best restaurant knows about keeping a creative edge & how we can learn from it.
Chef Massimo Bottura’s rebelling against cherished and beloved Italian recipes seemed like a risky move at one point, but has handed him on the top of the World’s 50 Best Restaurants list multiple times. Typically with success in any industry, one can easily become complacent which will almost always lead to failure but Bottura is a beacon on how to fight against complacency. There are some inarguable lessons we can all take from the mind of Chef Bottura and apply to our daily lives and our bars/restaurants from day to day.
Massimo Bottura knows he must always keep evolving. Recipes are never quite finished to him and it must grow as he grows (and as his staff/colleagues grow). For instance, he has a dish called “the five different ages of parmigiana Reggiano in five different textures and temperatures” that was initially only three stages. It has since has grown and evolved as time has gone on.
Another lesson is rewarding novelty over predictability. Being predictable is akin to becoming complacent to Bottura, and he realized that with novelty at work comes an increase in job satisfaction. If your employees do the same thing over and over every single day it can start to feel like Groundhog’s Day and get boring fast. This will almost always lead to employees trying-eagerly to move on and we know how much employee turnover costs us.
What this all boils down to is the fact that growth must always be a goal for us. If we aren’t trying to grow we are dooming ourselves to fail. In an industry where failure is commonplace we mustn’t become another statistic.
