Big and complex challenges cause us to believe that solutions must also be big and complex. In reality, small steps of progress deliver valuable results over time. Small steps of progress are powerful. More important, the “steady as she goes” approach drives peace of mind and confidence. I remember when my daughter started as a college freshman; we talked about how she would finish the job by taking one class at a time and that she would get there some day down the road. For her, that day came in December. Whenever we are faced with a challenge, it makes sense to break it down and get busy on the basics. Recently I had the opportunity to hear from an experienced Restaurant owner. He covered a broad area of topics. He understood menu engineering, staffing, cost controls, operations, financials and guest service. He shared some details about every dimension of our business.
I found it interesting, that when all is said and done, his punch-line was as basic as punch-lines come. It was a punch-line that allowed him to function in all of the other dimensions he spoke of with such passion.
His punch-line was cash.
He spoke of the importance of tracking cash-flow on a daily basis. He shared his belief that many of his peers fly blind with mere hope in their corner. He stressed the comfort he leverages on a daily basis as he attacks other areas of his business with confidence. He knows the report card he is driving with his cash flow and thus feels in control.
What small steps can be taken today to know what your daily cash-flow is and how it is being generated in your unique operation?
