I’ve always felt I had trouble multi-tasking. Now that I read this and saw the test results I see why.
I think I’ll try being more focused after reading this.
Have a focused day everyone!
Many hospitality business leaders and local operators are pulling their hair out over why traffic, sales and profits are falling at most bars and beverage driven restaurants. One big reason is a huge drop in the earning power of our primary market – young people. Read about it here, and here, very helpful in understanding the factors driving recent troublesome trends in sales and customer spending patterns.
At A-List we specialize in helping operators beat the trends toward discounting and lower margins by creating an exciting environment with exceptional customer experiences, that beats the competition in the war for customers’ shrinking entertainment budgets.
Problem with “Big Data” is the more you have, the more you have to sort to get anything useful, and the more misleading paths are possible. Curation is necessary by humans using logic, critical thinking and especially instincts gained through years of experience.
Our entire market is about 30% of the population.
30% of American adults don’t drink at all, 30% drink less than 1 drink per week, and many in the top 10% of drinkers drink so excessively they are trouble, and you probably don’t want them in a bar. That leaves about 30% that drink moderately and regularly.
A-List Marketing has developed, opened and marketed more than 40 beverage driven establishments, achieving long term success.
Read the research here – and let us help with your target marketing if you have a bar, nightclub or beverage driven restaurant.
Cheers! — TimTheBarGuy
Thanks to Jeff Haden on LinkedIn for the link to the research and the insights.
#bars #drinking #research #alcohol #marketing #trends #statistics
We often think of small business as the employment engine of the economy and in many ways that is true. The restaurant/bar/hospitality business is a big mover in job creation. But when it comes to job-creating power, new research indicates it is not the size of the business that matters as much as it is the age.
New and young companies are the primary source of job creation in the American economy. Not only that, but these firms also contribute to economic dynamism by injecting competition into markets and spurring innovation.
Representing 95 percent of all U.S. companies, businesses with fewer than fifty employees are undoubtedly important to overall economic strength. So too are the relatively few large companies, which employ millions of Americans.
Yet, neither group contributes to new job creation in the way young, entrepreneurial firms do. In fact, between 1988 and 2011, companies more than five years old destroyed more jobs than they created in all but eight of those years.
Read the research and conclusions here from the Kauffman Foundation, which shows how Start Ups are a prime job driver, how there’s a dangerous trend toward fewer new enterprises, and what can be done to encourage new businesses that drive more jobs.
Here’s some more info on what’s needed to enable entrepreneurial firms to drive innovation and prosperity.
Please remember it is important to job growth and local economic health to support small businesses, local companies and start ups whenever possible!
I found this to be a great post on how to mix positive thinking with realism to increase your chances for success, using “Mental Contrasting.” Here’s the main idea from the article:
Positive thinking fools our minds into perceiving that we’ve already attained our goal, slackening our readiness to pursue it.
Some critics of positive thinking have advised people to discard all happy talk and “get real” by dwelling on the challenges or obstacles. But this is too extreme a correction. Studies have shown that this strategy doesn’t work any better than entertaining positive fantasies.
What does work better is a hybrid approach that combines positive thinking with “realism.” Here’s how it works. Think of a wish. For a few minutes, imagine the wish coming true, letting your mind wander and drift where it will. Then shift gears. Spend a few more minutes imagining the obstacles that stand in the way of realizing your wish.
This simple process, which my colleagues and I call “mental contrasting,” has produced powerful results in laboratory experiments. When participants have performed mental contrasting with reasonable, potentially attainable wishes, they have come away more energized and achieved better results compared with participants who either positively fantasized or dwelt on the obstacles.
Read more about Mental Contrasting here, in the New York Times. The ideas are well supported by hard research, and I hope you get as much out of the article as I did!
Cheers! — TTBG
An article in the Washington Post states “Americans Are Tired Of Long Restaurant Menus.” As evidence they show documentation that the number of items on menus is shrinking.
Problem is, the article citing does not reveal any stats or market research showing customers “are tired of long menus.” Is there any such data? If not, then what could be happening is simply that restaurant companies are tired of long menus. There are many reasons why shorter menus are better for us in the restaurant biz. But are we just assuming the customer agrees?
Here is the article. Comments are welcome!