August 9, 2006

“The nicest thing about not planning is that failure comes as a complete surprise and is not preceded by a period of worry and depression.”
 
Richard Palmer
 
 
 

How to Guide: Checking your profit margins.

Are you ready to make more money in your business? Who isn't? Even if you are running a nonprofit or government agency, you're always looking at improving your profit margins. Your margins tell you how much is left over after you've paid your direct expenses. So what's the secret to making more money? Stop doing things that lose money. Now, before you roll your eyes, don't overlook the simplicity of this statement. Want to identify your cash creators and get rid of your cash drains? Read more...

 
By the Numbers: Does making the numbers really drive success?
 
This may be one of the biggest business myths of them all – thinking that making the numbers is all that matters. Since only making the numbers can lead to short-term views along with burnout, as business leaders jump from making the numbers today, simply to making the numbers tomorrow. A better view to consider is that success, in fact, causes the numbers to be made, and that the numbers are simply a by-product of success, not the cause of it. (Data source: Chuck Martin, Darwin)


Case Study: Ordering Up Success at the Counter

Running a business is hard. Building a business that is wildly successful is even harder. But check out who has done it:

Who: Jeff Weinstein
Company: The Counter
Type of Business: A burger joint
Founded: 2003
Success: Sold development rights - soon to be 400 to 600 locations across the country
How: Hit the market dead on!

"I started the restaurant out of a desire to do something that was different from what anybody had ever done before," says Jeff Weinstein, proprietor of the Los Angeles-based burger joint, The Counter. And he has. At The Counter, customers can order ultra-customized burgers for about $6 to $12 apiece, starting with a choice of beef, chicken, turkey, veggie, salmon or ahi tuna. Then they can choose from 10 cheeses, 26 toppings, 17 sauces and eight types of buns.
 
"When I started The Counter, I just had thoughts of making enough money to support my wife and me," Weinstein said. But now, "watching the growth is the best part - seeing people who believe in it and are willing to back it."
 
 

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