Guident Newsletter – November 2016 – Issue 7

Profitable Business Model First, Marketing Second. A friend of mine who owned a restaurant on the north side of town called me and asked if I would stop by because he had a few questions.  I agreed and when my schedule allowed I planned to stop into his restaurant (close to lunchtime because he had great food).  I met with him and his wife who both worked in the business at the time.  He said his sales were down and he wanted to ask me questions about how he could increase his sales.  I asked, as I usually do, if I could see a financial statement.  He showed me his year to date profit and loss statement.  I did a few calculations and said it looked like he was working very hard generating little profit.  He said things were going OK and all he needed was more sales.  At that time his wife, who I sensed was getting frustrated with her husband, began to tell me how they were working too hard, not making any money, and it was making life difficult at home also.  Eventually my friend agreed that they were struggling. I did some more calculations and suggested […]