To find the answer to the above question, consider this: What makes
my business work?� In retailing most business owners will say the
critical function is providing good service, providing quality
control in product selection, maximizing sales, or turning
inventory.
Every one of these is a characteristic of a well-operated retail
business. But the critical function for any retail operation is,
pure and simple, foot traffic. That�s why retailers pay more per
square foot for space in a major regional mall, as opposed to
lesser-priced space in a shopping center three miles away, or the
even lower rent in strip stores and free standing locations.
A
restaurant environment has a different critical function, because a
restaurant is not a retail store. In a restaurant you�re absolutely
limited by the amount of tables available in your unit. So unless
you have unlimited dining space, �table turns� is a critical
function for you. Yes, good food and excellent service is important,
but the �heart and soul� of a restaurant operation is the extent
which you are capable of filling and then turning your tables.
In both instances the critical function is discernible: for
retailing it�s foot traffic, for restaurateurs it�s table turns.
Hence, the entrepreneurial retailer who discovers a unique way to
maximize the foot traffic through the door, or the restaurateur who
finds new ways to speed the turns of tables, will obviously benefit
in the process.
Not only must you ask yourself the question, �What makes my business
work?� But you must take the next step and follow through after
you�ve answered the question. This requires implementation of
necessary programs that you must design.
