Business Plan – Part 1

» Create a Successful Strategy

Define your own ideas. Therefore, put the three questions “WHY, HOW, WHAT?” In the foreground. Most of us think and communicate incorrectly because we do not know our actual motives. Only the WHY gives meaning and purpose to the whole. And that is crucial for your success.

Business Plan

The COMMON STRATEGY is for most companies to communicate from the outside in. They start with “What” they want – everyone will give you the same answer – I want to make money. But that is the wrong approach.
Because the next step would be “How” and you do not know what to do in order to make money and you end up having no idea “Why” you are doing what you do. And that is a conflict in itself.

¦ What is the purpose of your business, what is your vision and what is your motivation?

Source: Simon Sinek “Find your Why” Golden Circle
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The key to success, A SUCCESSFUL STRATEGY is to start from the inside out: Start with the vision and end up with the product.

Only when you know “WHY” you are doing what you do, you will succeed. When you know the purpose of your business and you have a vision and believe in what you do you will be able to enthusiastically convey that belief to both – your employees and your guests and inspire them.

It is called the Golden Circle. This little idea distinguishes those with the capacity to inspire from everyone else.

¦ Every single organisation on the planet knows WHAT they do
¦ Some know HOW they do it
¦ But very few people or companies can clearly state WHY they do it

What is your purpose, what is your cause, what is your belief – WHY does your company exist – and WHY should anyone care about your business and eat your food?

Telling people what we do and that you are better than others and expect some sort of behaviour – and everybody will come to your restaurant – is not good enough. Think, act and communicate from the inside out – start with WHY.

Do not define yourself by WHAT you do – define yourself by WHY you do it and what you do simply serves the tangible proof of what you believe. That is called AUTHENTICITY. You will end up becoming a symbol of your values and beliefs. And that is the key to success.

After you have established your ideas, discovered your WHY, and identify your objectives, you should be able to put your gut thoughts and beliefs into words and onto paper.

Making a restaurant business plan is an important part of starting a new company. You can spend years developing your concept, menu, and beliefs, as well as how you will manage and treat your employees, as well as customer service and how it will be when the business is up and running.

However, you will not be able to open your dream restaurant without a business plan. A business plan is a well-structured document that explains your lofty goals and whole vision for what you want to accomplish. It describes in detail how the new company will take shape and function once the doors open.

You will have a million thoughts racing through your mind, and you will need to organise them.

And what is exactly the purpose of a Business Plan?

It will prove the feasibility of your concept to business owners, stakeholders, potential investors and leaders with an organized plan for how you will make your vision for your new restaurant a reality and provide them with a clear and engaging answer to the question: “Why does the world need this restaurant?”

Before they invest in your dream, they need to buy into your vision.

The business plan shows them and yourself that you have thought through every expense and every possible scenario. It provides a complete description of your plan — and why and how it will succeed.

A business plan provides business owners, stakeholders, investors, and leaders with an organised plan for bringing your vision for your new restaurant to life.

As you expand your business, make certain that nothing is overlooked. When you are deep in the weeds of construction, licencing, staffing, and other operational stressors, your business plan will serve as a road map and keep you on track.

Going forward without one can make navigating the tumultuous world of restaurant opening much more difficult.

 

Do not miss the next Newsletter with these subjects

Business Plan – Part 2

¦ Description of the following subjects

  • Summary – Mission, values, concept, cost overview, core values, business idea, your intention, your WHY, turnover and profit prospects, finance requirements with the schedule, risks, what you did up to now, today’s situation
  • Company – Description of the operation, products and services. Why the market needs exactly your restaurant, bar, café. Customers, technologies, capacities, suppliers, kitchen, production facilities
  • Market area – Review of the market, your market strategy, rating of market
  • Competition – Competitors and their menus, items and their market strategy
  • Marketing – Your strategy, advertisement, PR, prior to the opening and long term plans
  • Menu – Menu sample, items, calculations, design, menu engineering, recipes
  • Employees – HR, recruiting, positions, training, SOPs, OrgChart, administration, management and consulting
  • Location – Area, size, constructions, cost, neighbourhood, infrastructure
  • SWOT Analysis – Strength, Weakness, Opportunity, Threat
  • Finances – P&L, revenue projection, investments, prime cost, operational cost, budget
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