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You can’t hide poor financial management forever.
When your business is growing and top line sales are on an upward trend period after period it’...
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The best time to negotiate your lease is before you move in. You have the most leverage before you commit to a space; after that, your landlord kno...
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In Part 1 of this post we talked about how to survive this crisis by focusing on the 2 goals of successful cash management:
Minimizing and/or dela...
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Cash is the only thing that matters in surviving a crisis. Of course we want to maintain our staffs and continue to delight our customers, but with...
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Reviewing the financial statements for your food business are like having an annual check-up with your doctor: the goal is to pinpoint anything th...
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In an operations-intensive environment where the most important thing is the urgent thing, it is hard to get decision makers together to talk about...
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The most important line of a Profit & Loss Statement is the bottom line: profit. It’s safe to say that every employer, employee, and customer c...
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Why do we place so much emphasis on experience when making hiring decisions? Often times we look for an experienced employee, manager, vendor, or p...
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Benchmarks Are Important
Business owners have long been advised to “benchmark” to gain a sense of how their business is performing. Benchmarking ...
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I once had a colleague say during a meeting in defense of metrics and goal setting: “what gets measured gets done.”
I thought that was a great sent...
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What is Gross Profit?
Gross profit in the food industry is the product of two important expenses: labor & cost of goods (food cost). In restaur...
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Types of Costs:
In the simplest of terms, variable costs are associated directly with the sales of a product or service and therefore increase and ...
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