Today, I want to teach you how to celebrate those
small victories in your restaurant and why they're so important
to your business.
You don't always have to hit everything out of the park
to see massive growth in your business.
Hey, everybody. My name is Ryan Gromfin.
I'm an author, speaker, chef, restaurateur,
and I'm the founder of TheRestauranBoss.com,
as well as RestaurantProfitAndPerformance.com
And again, I want to teach you how to celebrate
those small victories and why they're so important
to your restaurant business.
You know, most small businesses are so concerned about dollars,
about those big huge wins.
If they run a marketing campaign and it doesn't bring in
40-50-thousand dollars or if it doesn't double their sales,
they think that it's a complete failure,
but if we look at most large businesses,
you know year-over-year growth; they're looking at 3-4-5,
sometimes 6-8% in growth year over year.
Those seem like small numbers in your business,
but not everything's going to be a home run and if we focus on the percentages
when we measure the success of a marketing campaign
or when we're trying to cut costs or increase revenues,
those percentages can actually be huge and they can be
hugely successful events
for your restaurant, for your business.
But if we only are focused on the dollars and
always hitting something out of the park, having this huge win,
we're going to sometimes look past the success.
I have a couple of examples that I want to share
with you today that I think you're going to help bring this home.
The first example is - one professional gambler
in Las Vegas sits down to a table,
people who make a living,
who earn their living playing blackjack or poker, whatever it is;
they're not always looking to double their money.
You know, when I go to Vegas, I sit down with a couple of hundred dollars
and you know, I get risky and I get aggressive.
If I don't double my money, I might as well have lost at all because
if I sit down with 2-3 hundred dollars and make 10%, let's say.
So, I win $20. To me, that's a loss.
I'm not thinking about it the right way,
I'm thinking about, “oh, what's the big deal? I made $20,
but to professional gamblers, that's how they make a living.
So if they sit down at a table with a $1,000,
if they're up a $100, they walk away.
They just got a 10% return on their investment.
If they push it and try to get a 100% or 50% returns,
they could potentially lose everything.
So, it's the same thing with big businesses.
They're always looking at percentages,
not dollars. And I encourage you and your smaller restaurant business
to look at percentages and to measure the success of something
based on the percentage that it brought to you,
or that it saved you rather than just
the huge dollars at the end of the week or the month or the year.
The other example that I want to share with you
is a client of mine that has a small pizza restaurant
and we developed a loyalty program.
He was trying to get more business in at the lunch hour,
so we developed a really cool loyalty program for lunch only
and he passed out 250 of these loyalty cards
to his neighbors, to the other businesses in the area.
Well, a couple of months later, I followed up with him and I asked how it went?
And he said, it went okay. Of the 250 cards we passed out,
8 people redeemed the entire card
and most people only came in 2-3-4 times with the card.
And wrote back, I'm like, are you kidding me? That's a huge success.
That means you got 8 people who visited 12 times to complete
their card and then a vast majority of the people
only came in 2 or 3 times,
that's literally hundreds and hundreds of visits
to your restaurant for lunch that you didn't have before.
And when I wrote that in the email, he wrote back, he's like,
oh yeah, I guess you're right.
And here I am thinking like, oh my God!
We just put together this massive marketing campaign
that cost him almost no money,
that cost him almost no effort, that was incredibly simple to do;
it returned him huge results but he couldn't see that as a win,
so he stopped doing it. He didn't continue on with it.
So whenever you're putting together a campaign or whenever you're measuring
something,
I encourage you to write down ahead of time what's your goal,
what's the percentage goal,
what's the dollar goal is what you're measuring
really what's important.
In his case, he just looked at 8 out of 250 returns.
That wasn't what was important.
It was how many visits did he get versus how many dollars did he spend.
Now, I wasn't able to get that information from him. He wasn't tracking it,
but I guarantee you that return was massive.
So in your small restaurant business,
I encourage you to always be measuring everything, but most importantly,
celebrate the small victories.
Sometimes we're making these huge massive strides in our business,
but because it doesn't feel huge,
because the dollars aren't huge,
we give up on it, we move on to the next thing.
Remember, dig into your restaurant, focus on the small stuff.
The big successes will come at the end.
I live by this expression of get
rich slowly.
We're all looking for that huge home run,
but most business owners, most successful businesses grow very,
very slowly and we only hear about the massive growth
at the end because it's been the slow ramp up for that massive
growth
I hope you enjoyed today's video and I look forward to seeing you again next week.
Hey, everybody Ryan here. I really hope you enjoyed that video.
Would you mind doing me three really quick favors?
1st) Would you like this video? Wherever you're watching it,
there'll be a button for you to go ahead and click and like the video,
and then leave a comment somewhere so I could answer your questions.
2) Would you go ahead and subscribe to this channel,
that way I can continually deliver you the newest updates
every time I release a video.
And then 3) I'd like to give you something.
If you're the kind of person who really wants to get ahead in life faster,
I have a 90-day planner here that I'd like to give you.
I use this planner every day in my business and actually,
I think this is one of the reasons why I'm able to get as much done
as quickly and as efficiently as I am able to.
See every year when I sit down to plan out my year,
I sit down and I do 4 of these 90-day planners because
I believe that we can't get as much done in a month as we think we can,
but we can get a lot more done in 3 months
than we think we can. And so I've developed a system,
I call it my 90-day plan or system where you can achieve
just about any goal you want in 90 days if you follow this.
And I'd like to give it to you completely free.
Like I say, this is on my desk every single day and I use it in my business
and I teach my clients how to use it.
And I'd like for you to have it for free.
All you have to do is head over to
TheRestaurantBoss.com/Goal.
G-O-A-L.
Again, that's TheRestaurantBoss.com/Goal
and then just give me your first name and email address
and I'll send this right over to you, all four pages.
Until the next time I see you, go out every day
and improve the lives of your customers, your employees,
your vendors, and of course, your family.