Do you think you have business Acumen?

Most people when starting a new business often unnecessarily overcomplicate businesses models and ideas.

One business that is both basic in its fundamentals and complex in its operation is a food shop. A small café, selling food and drinks is based on a simple business model where you make physical food items and then sell them to general public who are looking for a quick and readymade food item at a reasonable price. Though it sounds like a simple idea but putting this into practice is of course, more complex than that it seems. People who have taken on that challenge have realised that running a food café is certainly a not plain sailing task.

But here is one thing we are very sure about. If you don’t have the business acumen and understanding that what it would take to start and run at least a moderately successful food shop, you won’t have success in building any other kind of business.

Below are listed some fundamental parameters what a business of any type has to do.

Think of a product or service that you know have demand and will sell.

For a food shop, this means working out what food your customers are going to want to eat, and when.

Promote your business to attract customers and provide a good customer service.

You want to explain to the people who should eat your food, exactly why they should eat it. And then provide it to them seamlessly with a professional and courteous manner.

Gain repeat business and gather feedback/reviews from customers about your product/service.

A services should be provided to such high standard that compel your existing customers to not only come back for more but also they spread the word to others to bring more business to you. Each new customer should come back for more and leave a good feedback and review about your business.

Cover your overheads and expenses

Your business should be able to generate enough cash not only to pay for what it costs to run it on a day to day business but also have enough cash left over for owners. This is the most important part. Does it sound too tough? It shouldn’t.

This is what your business should do. It should meet the requirements of a food shop and hit their metrics and goals. These are the some of the basics that you should be capable of accomplishing to make your business a success.

There’s too much of a focus these days on businesses operating like something that isn’t a business. No doubt that a company or start up should run smoothly, should iterate and should have a firm focus on learning. But that doesn’t mean it shouldn’t be a business and act like a business. Because businesses that fail to do that aren’t really a business where ultimate objective is to make profits for owners, they are more like a hobby.

We can help you to kickstart your business in Hatfield. Contact us for a free consultation

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