Lawrence Fine

Before going to lunch yesterday I went to the restaurants website and pulled up the menu. I chose what I wanted to order so was all set when I arrived at the restaurant. The server gave me the menu and the item I wanted to order was no longer being offered. I asked the server about this item and was told it was no longer on the menu (I was able to see that). Another server came by to take our order and I asked again about this item (hoping it was still available even though it wasn’t on the menu). He explained it wasn’t on the menu and that they no longer had some of the ingredients.

In my opinion the first answer was simply unacceptable. It was easy to see the item was no longer on the menu and I would have expected something more for an explanation. At best, this employee was the equivalent of a “well drink”. It was the bottom of the line employee who does the least possible.

The second response was much better. He explained it wasn’t available and very politely explained why. He went so far as to offer an alternative. This would be the equivalent of a mid level type in going beyond the bare minimum.

The Top Shelf employee would have done what the second employee did and then taken it a step further to make sure the manager was aware of the confusion from the web site so it could be fixed.

Just like with bar drinks, a well employee is usually a lot cheaper than a top shelf employee but the results are usually well worth it

Just something to think about

Have a great day!

Lawrence

Tags: Uncategorized by Lawrence Fine
No Comments »

Being innovative is cool. Coming up with an idea no one else has come up with can be very gratifying.

The thing to remember is sometimes, there is a reason no one is doing something. It might not be the best way to do things. It might not work. It might not be economical.

Sometimes it’s worth remember that if something is working somewhere else, it might work for you as well. It’s not as cool to recreate and imitate but if it worked there, it might work here as well.

Innovation is cool but in business sometimes it’s more important to be successful than simply innovative.

Just something to think about

Have a great day!

Lawrence

Tags: Uncategorized by Lawrence Fine
No Comments »

You know something is going to take 2 weeks to complete. It doesn’t mean it will be done in 2 weeks. It means it will be done in 2 weeks once it’s started.

Too often, we figure out how long something will take and then delay the start to the point where we don’t understand how we miscalculated the deadline. It wasn’t a case of miscalculating the deadline it’s miscalculating the start date.

Make sure you figure out the start date before you try to figure out the estimated end date. It will make things a lot easier

Have a great day!

Lawrence

Tags: Uncategorized by Lawrence Fine
No Comments »

Sometimes fear can be a great motivator. The fear of failure has allowed many to continue when obstacles have arisen.

However, if one isn’t careful, fear can also be a great deterrent. Fear can prevent you from trying anything (with the logic being you don’t fear if you don’t try)

Utilize fear as a motivator but if you find it preventing you from doing something, work to overcome the fear.

Have a great day!

Lawrence

Tags: Uncategorized by Lawrence Fine
No Comments »

It’s important to realize that what is perfect for one person most likely isn’t perfect for someone else.

My perfect house might be absolutely inadequate for someone else.

Your perfect meal might be something that others are allergic to.

That perfect dress might be completely inappropriate in a different situation.

Just remember, that which seems perfect to you might not seem perfect to someone else so it might be worth trying to quantify some other way

Have a great day!

Lawrence

Tags: Uncategorized by Lawrence Fine
No Comments »

The third Thursday of each month we have the Art Walk in downtown Charleston WV. Around 10 galleries stay open till 8PM showing off their art. Most serve some type of refreshments. The interesting thing to me about Art Walk is many of these galleries are packed. The reason this is interesting is most of these places are virtually empty the rest of the time.

You can go into most of these places on a given Saturday and be the only people there. The same art is shown. The same prices are offered. The only difference is Art Walk is an event as opposed to the rest of the time it’s just there (and at Art Walk you can drink some wine)

How many other businesses could flourish by creating these type of events? Could downtown restaurants have an event the second Tuesday of the month where they offer appetizers or drink specials? Could shopping centers have an event the first Sunday of the month with rides for kids and refreshments?

Could your industry benefit by having an event (or series of events)? One key is it must benefit more than one group (Art Walk isn’t for one art gallery, it’s for many).

Just something to think about

Have a great day!

Lawrence

Tags: Uncategorized by Lawrence Fine
No Comments »

A new person joins an organization and has many new ideas.

They want to fire some people
The want to hire other people
They want to reorganize
They want to change the appearance of the organization

But, when it’s all said and done, when the smoke clears and the mirrors are looked behind the question one must ask is whether there is any substance behind the initial changes.

Are sales up?
Is the organization better run?
Are profits up?

Too often when one looks past the smoke and mirrors the thing missing is the substance.

Some might see the smoke and mirrors as the “honeymoon period” but to be successful in the long run, results matter.

Just something to think about

Have a great day!

Lawrence

Tags: Uncategorized by Lawrence Fine
No Comments »

Many people, when they think about adding value to a business think in terms of greater efficiencies, lower expenses, increasing pricing etc.

A way to add significant value to a business is to provide a new product or service that stays within the industry of the business.

As an example, a restaurant might try to increase their value by reducing staffing (less costs), increasing prices (greater revenue) or improving efficiencies. A way to add greater value might be to add a catering business to the restaurant. Or, partner with a local convention center to provide all food and drinks etc.

There are many ways to add value to a business, raising prices or lowering costs is not the only answer

Just something to think about

Have a great day!

Lawrence

Tags: Uncategorized by Lawrence Fine
No Comments »

The next time someone someone asks you for something that you can’t do or don’t want to do, consider offering an alternative rather than simply saying “no”.

If you say “no” they leave unsatisfied,

If you give them an alternative, they leave satisfied and might return for something that does work for you.

This can be a simple thing such as an employee at a convenience store who doesn’t have a product a customer might want can tell them another store that does carry this product. Or, a hotel which is full can tell a walk in where another hotel is that might have some vacancies. Going the extra step to call the other hotel to verify the vacancy and even to make a reservation for the guest is something that might take a minute or two but might result in a loyal customer in the future.

Be willing to offer alternatives and create a potential loyal customer

Have a great day!

Lawerence

Tags: Uncategorized by Lawrence Fine
No Comments »

So much emphasis on profits is spent on selling price. The thought is if one can sell for the maximum price, profits will be best.

Not enough emphasis is spent on buying costs. If one can minimize expenses with the purchase it’s easier to maximize profits when selling.

It’s a simple concept but one that requires discipline because when buying, people frequently aren’t thinking about the issue of selling so it’s a case of “out of sight out of mind”.

Keep costs down at the start and profits will frequently be realized in the end

Just something to think about

Have a great day!

Lawrence

Tags: Uncategorized by Lawrence Fine
No Comments »