Tag Archives: Business and Economy

The “Stuff Got Real” Moment

I’ve never jumped out of an airplane and I probably never will. I’ve had a number of friends who have done so, however. Most of them were excited about making the jump but even they had what I call the “Stuff Got Real” moment. OK, I usually use another word in place of “stuff”.

The moment comes when they reach the open door, feel the wind rushing by, and look down. That’s when whatever fear they have hits them. My guess is that there’s something in our DNA that says leaving a perfectly good aircraft when it’s several thousand feet above terra firma isn’t so smart but our DNA doesn’t know about parachutes.

That same SGR moment is something I deal with on a regular basis. The folks I work with to help them change their lives through business ownership inevitably hit the SGR moment as they realize that they can change their lives and live their dream. They have the money, we’ve found a business that they like, the numbers work, etc. That’s when they hit the open door.

No, they don’t see the ground. In some cases they know they have to leave a job even if it’s one they hate. In others, it means they have to invest (read that as risk) a chunk of their life’s savings in their new venture even if it’s a venture that dozens or hundreds of others have proven to be successful. It’s scary and because of that, quite of few of the people who travel this road with me vanish at this point. They quit returning calls and emails. They go back to what Thoreau termed their lives of quiet desperation.

Maybe it’s a good thing. Starting your own business, even one that’s an established business model with a known brand is hard. Sure, you’re given an operations manual and a marketing plan. You’ll be trained by people who have been running the business for years. You might even have a mentor assigned to you for a period of time to guide you. That’s all well and good but YOU have to stand in the open door and jump, even though you’re strapped to people who have made the jump many times before. You have to commit to the jump and not everyone can do that.

I tell myself when a prospective owner balks or disappears that they are probably part of the 99% for whom business ownership isn’t the best path. Lately, I’ve taken to warning folks early in the process that they’re going to face the SGR moment and I’m here to help as are any franchisors we decide to investigate. Hopefully, that helps when the wind hits their faces and just maybe they step through the door. Could you? Let me know if you want to try.

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Filed under Consulting, Franchises, Thinking Aloud

Everything’s Right

Foodie Friday again, thank goodness. My friend Barry is a restaurateur. He runs a place in Georgia and their tagline is “Everything’s So Right.” There is a lot of wisdom packed into those few words (very much like Barry!) and I got a chance to see that sort of thinking first-hand this week.

I went out with a friend for a beverage. We hit one of our usual haunts and she ordered something that she’s had there before. Unfortunately, what arrived at the table wasn’t even a close approximation of what she was expecting.

We said something to our server (our usual seats at the bar wouldn’t permit social distancing so we took a table) who mentioned that the drink was made by someone our friend, the head bartender, was training. She also immediately apologized and asked what else she could bring instead. Her attitude was one of sincere regret as if she had personally disappointed instead of just delivering a badly-made beverage. She wanted to make everything right.

Making everything right is long-term thinking. The problem in this case wasn’t a bad drink. What would have become the problem would have been the server not taking immediate steps to fix the problem with a customer-friendly attitude. In business, we don’t get in trouble for the things we do. More often than not, it’s for the thing we don’t do. That might be why we visit this place at least once a week.

There’s another restaurant in town that offers the best Chinese food in the area. It’s authentic and as good as I’ve had in NYC’s Chinatown. I rarely go there because the service is unapologetically atrocious. You can wait for an hour for your food to arrive even when the place is nearly empty. It certainly doesn’t take as long to cook as it does to arrive. Does anyone seem to care about making everything right? Nope.

Screw-ups are a fact of life no matter what business you’re in. 99.9% satisfaction means that 1 person in 1,000 is going to have an issue. If you go to sleep thinking that one person is far outweighed but the 999, you’re not going to sleep very well for long. Making everything right has to be the gaol in a time when everyone has access to social platforms and review sites. More importantly, it’s the right thing to do. When people spend their hard-earned cash on your product or service, they expect you to solve whatever problem – hunger and thirst in this case-, brought them to you with a smile. If everything’s not right, you haven’t, have you?

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Filed under food, Helpful Hints

We Went Back To Our Bar

Foodie Friday, finally. If you regularly read this screed on Fridays, you might have picked up that Friday afternoons almost always involved a trip to my favorite local watering hole. In fact, I devoted one Friday rant to the place.

During the pandemic, while we’ve ordered food on a regular basis from the place to support it as best we could through the crisis, last evening was the first time in six months that we actually went to have a beverage. While bars are still closed here in North Carolina, restaurants are open with limited capacity indoors as well as distanced seating outdoors. Our plan was to sit outside and since it was a nice evening we ended up staying for dinner as well since technically our bar qualifies as a restaurant based on how much food it sells.

Of course, we did stick our masked faces inside to check out what was going on and to say hi to some staff members we hadn’t seen in a while. What a difference. The bar area was shut down – it’s usually packed – and several tables had been removed to limit capacity. Many more picnic tables had been added outdoors to make up for the lost seating. But it did get me thinking.

Many changes have already happened in the restaurant business. The biggest one, obviously, is that a significant percentage of them have closed their doors forever. It’s a marginally profitable business in good times and these days are NOT good times. For those that remain, adjusting to limited seating and a lot more take-out has also changed how the restaurant is staffed and operated. The quality that people have come to expect has morphed into wanting that quality at home. Cafeterias have died and drive-through fast food has been reborn to a certain extent. Without the need for a lot of service staff, operating within ghost kitchens has become prevalent. In fact, one franchise – Dickey’s Pit Barbecue – launching a network of ghost kitchens, including virtual restaurants to expand their reach in Chicago, Houston and Orlando, and entering into a new market using only ghost kitchens in Providence, R.I.

None of the changes have been easy, and the disruption points to something that’s applicable to your business as well. That’s leadership. In a crisis, leadership is even more important than in normal times because your team tends to panic and freeze or do silly things. The businesses who have really won in this environment so far are the ones that have a plan, have a good, strong corporate culture, have injected a little bit of entrepreneurialism in it, and stress execution. It starts at the top.

Does that sound like something you’re doing? Shouldn’t it be?

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Filed under food, Helpful Hints