Pushing back against rising costs, interest rates and the worker shortage. Want the Action Sheet ? Click Here
The news is not great – inflation, conflict, interest rates, soaring power costs, and a continued shortage of workers. There’s a media industry saying that ‘if it bleeds, it leads’ – bad news and hardship always make the headlines. What we miss are good news stories like yours based on a network of loyalty you’ve built up with customers, staff, and other local businesses. The skills and assets developed during lockdowns taught us to do more with less and pivot faster – it’s time to draw on that strength again.
What you can do is use the business skills and new systems you set up during the 2 years of Covid restrictions – it was tough and valuable training. Do you realise how much you developed your business to be adaptable, diversified and less dependent on outside conditions? That word ‘resilience’ applies more than you think!
Remember the Skills and Assets you Developed During Lockdowns
1. Diversify your Products
Covid restrictions prompted you to offer a wider variety of products and services, from take-home meals, delivery, catering and room hire.
Over the two years of that time, you found the most profitable products and the best ways to manage delivery.
Hating on UberEats and DoorDash was a waste of emotion, and you found that many customers would pay higher delivery prices – it’s better to let these services manage the staffing hassle.
If you dialed this down after Covid restrictions were lifted, you still know how to ramp it up again.
2. Better Communication with customers
Covid got us having more frequent and open communication with customers, and we’re all glad it happened.
You discovered the value of a ‘customer list’ and built it up in size.
Social media, email newsletters and SMS are now an active part of your communication.
You’ve now got the skills and experience to push more promotions during quiet days or weeks.
3. Better Tools for cost control and business management
Writing all those Covid grant and tax refund applications got everyone taking numbers and bookkeeping seriously.
Online rostering, recipe management and digital work systems are at the fingertips of modern operators, helping to keep costs tight.
Better data makes a big difference to your management accuracy and responsiveness.
Better forecasting systems give you the ability to act quickly if faced with sudden downturns or quiet days – see the Counter Strike article and video!
4. Covid taught us how to run lean, mean and clever
Bloated menus and hours were cut back to just what the customers wanted.
Overweight storerooms and groaning coolrooms were slimmed right down, and suppliers were more flexible.
Staff shortages taught us to focus on the most profitable days and shifts.
We organised equipment and training to make staff much more productive.
BUT… this is not about owners taking over the $20 ph shifts, it’s essential that you continue in the role of entrepreneur and innovator.
Using your Covid lockdown skills gives you the ability to look tough times in the eye and give them the finger! It taught you how to make the same or better profits from reduced hours and menus – let’s use that experience.
You have the systems and experience to pivot and adapt in the face of an economic downturn – now use them with even more strength! Focus on the profitable heart of your business and give it maximum attention – people are attracted to happy owners and a happy, prosperous business.
Want the Action Sheet ? Click Here
The news is not great – inflation, conflict, interest rates, soaring power costs, and a continued shortage of workers. There’s a media industry saying that ‘if it bleeds, it leads’ – bad news and hardship always make the headlines. What we miss are good news stories like yours based on a network of loyalty you’ve built up with customers, staff, and other local businesses. The skills and assets developed during lockdowns taught us to do more with less and pivot faster – it’s time to draw on that strength again.
What you can do is use the business skills and new systems you set up during the 2 years of Covid restrictions – it was tough and valuable training. Do you realise how much you developed your business to be adaptable, diversified and less dependent on outside conditions? That word ‘resilience’ applies more than you think!
Remember the Skills and Assets you Developed During Lockdowns
1. Diversify your Products
Covid restrictions prompted you to offer a wider variety of products and services, from take-home meals, delivery, catering and room hire.
Over the two years of that time, you found the most profitable products and the best ways to manage delivery.
Hating on UberEats and DoorDash was a waste of emotion, and you found that many customers would pay higher delivery prices – it’s better to let these services manage the staffing hassle.
If you dialed this down after Covid restrictions were lifted, you still know how to ramp it up again.
2. Better Communication with customers
Covid got us having more frequent and open communication with customers, and we’re all glad it happened.
You discovered the value of a ‘customer list’ and built it up in size.
Social media, email newsletters and SMS are now an active part of your communication.
You’ve now got the skills and experience to push more promotions during quiet days or weeks.
3. Better Tools for cost control and business management
Writing all those Covid grant and tax refund applications got everyone taking numbers and bookkeeping seriously.
Online rostering, recipe management and digital work systems are at the fingertips of modern operators, helping to keep costs tight.
Better data makes a big difference to your management accuracy and responsiveness.
Better forecasting systems give you the ability to act quickly if faced with sudden downturns or quiet days – see the Counter Strike article and video!
4. Covid taught us how to run lean, mean and clever
Bloated menus and hours were cut back to just what the customers wanted.
Overweight storerooms and groaning coolrooms were slimmed right down, and suppliers were more flexible.
Staff shortages taught us to focus on the most profitable days and shifts.
We organised equipment and training to make staff much more productive.
BUT… this is not about owners taking over the $20 ph shifts, it’s essential that you continue in the role of entrepreneur and innovator.
Using your Covid lockdown skills gives you the ability to look tough times in the eye and give them the finger! It taught you how to make the same or better profits from reduced hours and menus – let’s use that experience.
You have the systems and experience to pivot and adapt in the face of an economic downturn – now use them with even more strength! Focus on the profitable heart of your business and give it maximum attention – people are attracted to happy owners and a happy, prosperous business.
Check the other useful blog posts on the Foodie Coaches website…
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