ELECTRONIC HOUSE CALL - May 26, 2000

GEMS FROM CHICAGO
I just returned from the National Restaurant Show in Chicago, bigger than ever. Here are a few thoughts to ponder

According to the NRA and People Report™
- considering separation, replacement, training and opportunity costs, the median cost of every hourly worker you lose is $2,494
- measuring the same criteria, the median cost of every manager you lose is $24,497
- the hospitality industry turns over 250,000 people every week!

The #1 benefit that new workers want is skill set training.
-- Harry Bond, CEO, Monical Pizza

Your real competition is the television set.
-- John Hickenlooper, Wynkoop Brewing Co.

There are no secrets in a successful business.
-- Adam Ashcraft and Ron Yudd

Get rid of every "get the manager" policy you have.
-- Dr. Kevin Freiberg

Several times during a new hire's first day on the job, pull them aside and tell them, "You're really going to be good at this." It is a great way to set them up to succeed, particularly if they have had a history of job-hopping. (Of course, you still have to coach them like crazy.)
-- Bill Marvin, The Restaurant Doctor™

CASHING OUT . . . AND CASHING IN
Shanny Covey, <shanny@robinsrestaurant.com> writes:
We have built our restaurant up for the past 15 years to be a very successful business. We are now ready to sell it and would appreciate information and advice on how to approach doing it. We have no experience in the area of selling a business.

If you can help Shanny out, please respond to her directly.

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