Setting a goal is a successful method to enjoy success in your restaurant business. The best way to do this is by identifying the areas that trouble your business and exploring ways that will help you to improve these problems.
Your restaurant goals must be S.M.A.R.T (Specific, Measurable, Achievable, Relevant, and Timely). Follow this method to create the most effective goals that will help your restaurant to become successful.
- Specific
If you create more specific goals, you have more chances to succeed in your restaurant business. Do not be vague in your goals. For example, if you want to increase your profit in a month, the goal has to be to bring an additional profit of 10% this month. The goal looks more achievable if there is a deadline and a particular number.
- Measurable
Many restaurant owners consider their aim to increase their revenue. However, they must also find ways to measure this revenue. For example, if you want to bring a 10% increase in your monthly profit, find your current profit and find what will be the value when 10% is added. Thus, it becomes measurable. If there is a measurable number, you can find how close you are to your target and you can celebrate when the target is hit.
- Achievable
Your restaurant goals must encourage you and your employees to work hard rather than getting scared. Make sure your goal is achievable. For example, if your goal is to get a 1000% increase in revenue, your team might feel failure in advance and their work becomes more daunting. A better way to deal with this is to cut down this 1000% target to small, measurable units. You can begin with 10% and gradually increase it until you achieve your final goal. Hitting the smaller targets will keep you motivated to reach your final goal.
- Relevant
The goals you create for your restaurant must be closely associated with the whole success of your restaurant. For example, it is a bad idea to aim to serve the best chicken dishes when your restaurant is famous for its vegetarian dishes. Also, you must think twice if it is the best time to bring new goals for your employees. If you can justify your goals, it will be relevant and you can go forward strongly with them.
- Timely
A goal that does not have a timeframe is just a waste. You won’t be able to complete a goal that does not mention the timeframe to accomplish it. If there is no deadline, your desire and drive to complete it will gradually decrease. Set a timeline and break your goals into smaller ones that are manageable and the results must be measurable. For example, think of the work you can do today to reach your third-quarterly target. You can plan the same for tomorrow and the week to come. You can easily find progress if you have a deadline. If there is no progress, you can look for different methods or modify your current techniques.