MEMORIES AND MUSINGS

MEMORIES AND MUSINGS

Over the last few days, I have developed the urge to say something different, something not so scholarly like my other posts and more like the way I feel and think. Hey, I am old enough to have made a few thoughtful observations.

RECESSION DEPRESSION: This recession is a real depression for some. Can't get ahead of the game, can't make enough money, don't have enough customers, my bank account is low and so is the cash flow. What is missing here? Is the glass half empty or half full? I gotta go with half full because this recession is like an AA meeting for a first timer. There is no where to go but up and if I put my optimistic hat on, I begin seeing opportunities that would otherwise elude me. I happen to think this is a grand time to be in business and a grand time to plot a major expansion strategy. I have one that I will be announcing very soon.

THE WORLD CHANGED ALL AT ONCE: It did. This new economy got here all at once . It got here so fast that it took a lot of us by surprise. Most economic changes can be tracked over time. Just look at all the energy being expended to measure the road to recovery. Fast calamity requires fast decisions and sometimes improvisation to survive. Quick decisions based on intuition and experience have always worked well for me.

GO BACKWARD, GO FORWARD: If you are old enough to have gone through a major recession, you know that they don't last forever. Hunkering down is okay, but how about going backwards for a while. I mean going back to basics, remembering and practicing all the things that made your business a success a few years ago like super guest service, the best food and drink possible and giving real value for the price. After you have gone backward, you will find it much easier to go forward. In my restaurant consulting days, I would tell a troubled restaurant operator that we need to fix all your in house stuff before we go after the new business. It works great anytime but particularly well in a recession, depression.

SOCIAL MEDIA, INTERNET MARKETING: Bold and beautiful, fun and generally free. This stuff is the new breeding ground for restaurant and bar promotions. I mean aren't your guests supposed to be treated like best Friends and when they love your food or drink they get all a Twitter. And don't you want your professional friends to be Linked In to you. This stuff is like getting a Bachelor's Degree in Marketing. It is nothing but advertising, promotion, publicity and sales in a different package. Imagine the beauty of being able to connect with current and future customers, promoting your restaurant or bar in this new manner. Heck, just write a press release for millions and be able to control where it goes and only be spending money for results. Non- believers beware. you are getting left behind!

THE RESTAURANT AND BAR BUSINESS IS CHANGED FOREVER: Of course it is! How could it be otherwise. The past couple of years have been like a war for many. Changing liquor and smoking laws have changed the true bar forever. Consumers are expecting different things from food and beverage operators. New concepts are emerging. At least for the time being most landlords can almost be considered an friend rather than a foe. It has always been good practice to be staff development conscious. It is now more than ever. Technology will continue to increase the pace of change in our restaurants and bars.

DON'T GET OLD: Am I or am I not? Attitude is everything. Get excited about the new. Throw out some old clothes and watch the new ones arrive. Have an exciting plan for the new future and be prepared to move fast. Getting older is the opportunity of a lifetime. More brains and less brawn. Use the best of the old along with the best of the new. Be like a kid and get excited about new. It is what one needs to do in business and in life.

FACT: The average lifespan of an independently owned restaurant is five years or less. Smart owners have an exit plan put together as soon as they open the doors.

Brian Harron is a licensed real estate broker specializing in the sale of restaurants and bars. He is affiliated with Sunbelt Business Brokers in Prescott, Arizona and can be reached at 928-541-0890.