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04/30/2013

What�s The Critical Function Of Your Business?

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.



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