 Hey guys today, we're going to be sharing the tips for you the restaurant manager so then that way you can rent a successful and Profitable restaurant make sure you guys stay to learn hey It's Wilson here today We'll be sharing the tips you need to know before you start your restaurant business before you start this whole crazy journey because We're gonna save you a lot of time a lot of headache and most importantly a lot of money along the way without further ado Let's dive right in the number one tip is the ace formula if you do not know what the ace formula is I'm really really upset because I've been talking about it for throughout the last year two years Check out in the description below ace formula is basically alignment alignment with your why Understand and demand put the stake down of what you stand for and that's the only reason why people buy from you That's the only reason why people pay 30 dollars for your burger versus Somewhere else five dollars per burger because there's this alignment. They're supporting your cause second is to connect with your customers Understand your customers to the T understand what bothers them what understands what troubles them What what is it that they're upset about? What is it that they want? Okay, and what is it that they're looking for are they looking for a quick grab-and-go bite? Or are they looking for wine and dining their friends and their family you need to make sure you understand that understand Where they hang out understand the languages that they use and then use those language to communicate with them to deliver Value to them and to connect with them. That's the second pillar. Okay, E stands for explode explode and revenue This is the only time we start doing Promotions because without aligning your why I without them supporting you as a brand without connecting with them without them understanding you Without you understanding them. There's really no point of running any promotions. That's when we were on the promotions explosive promotional Marketing campaigns that's when we do it ace formula is what you need to know in order for you to be able to run a successful and profitable business because These are the principles that I've used to build my seven figure businesses and my ice cream chain which got recently acquired The second tip is to build your a team all-star team Why is this super important to have an amazing team? It is because ultimately the end goal why you're creating this machine is for it to self-sustain For it to be able to generate cash for your month after month after month Which is the reason why you need to make sure you have to write people in place in order for this machine to run without You that's the ideal case and that's the ideal outcome that we all want to be able to achieve Which is the reason why you need a players in your in your team You need to be able to have them aligned with your vision aligned with what you believe in That's when you can have everyone rolling in sync and when you everyone is rolling in sync You can be sipping on that pina colada on the beach while that machine continues to generate revenue for you Tip number three is to know your numbers I cannot stress this enough because everyone that I mentor my consult consulting clients a lot of them Don't know all their numbers. You need to know all your numbers and what that means is you need to understand your cogs You need to understand your theft rate. You need to understand your spoilage rate You need to understand how much you put on labor. You need to understand Your marketing costs your build-out costs basically all the different line items on your profit and loss statements I know it's dry. I know it's boring. I know it's difficult But if you can keep an eye on these if you understand these now You would understand which levers to pull in order for you to have more profits in your pocket a lot of your Profits are Hidden in the details are hidden in the the devils of the details because for example If you're losing 10% of revenue every single month on spoilage on not being able to order your Pro your your cogs your ingredients on time because they're just right then Unfortunately that 10% are the profits that you're gonna be able to make to put in your pocket these 10% Is what you're gonna be able to enjoy to reap the rewards from this machine But because you don't know your numbers you don't know which levers to pull you don't know and Unfortunately, if you don't know you're gonna suffer from it tip number four is to know your community When we talked about ace formula we talked about connecting with your customers now We're talking about knowing your community knowing exactly what they're looking for and being able to connect with your community as a Whole when they all come together to support you when you address them by first-name basis when you know exactly what they come in as A regular and what they order that's your community That's when you have this booming community that will always come for your food versus that new restaurant That just opened around the block and is running a buy one get one free promotion This is how you can have brand loyalty and this is how you're gonna be able to charge a premium on your products Tip number five is to have a procedure procedure that allows you to walk away from your business Be on a beach while the machine continues to run for you without any hiccup And why is that the case? It is because we need to be able to document every single process from the probe from the process of someone walking in The proper process of them being shuffled along to their seat to the moment that they're being served and to the moment that they walk Out all these things need to be processed and put into manual and trained for your front of the house staff Same thing goes on with your back of the house staff all your chefs and so on so forth Everything needs to be having a process treat this process like a franchise because one day you're gonna be able to replicate this to multiple stores So start now take away that ambiguity between you and your staff so then that way the Expectations set outright up front Set out in a way that is fair because at the end of the day we're looking at the same operating procedures So at the end of the day there won't be any bad blood amongst the team Which will save you time save you money and allows you to be able to travel as you wish So there you go the five tips in operating a successful and profitable business right from the get-go number one is to understand The ace formula if you don't understand it make sure you download it from the description below It is something that I've used to build my multiple businesses Step number two is to have your a team make sure that you start compiling all the a listed people around you Take away the seeds take away the bees and only hire people that believe in what you believe in and are is able to actually Have the same culture as you tip number three is to know your numbers as dry as it is This is the underlying principle and underlying secret in running a successful business is to know your numbers This way we understand which levers to pull in order for us to have more money in our pockets Step number four is to create and know your community Knowing your community and creating community allows you to be sheltered away from your competitors So then that way you don't need to run promotions all the time and losing the profit margins You can have a loyal fan base that supports your restaurants Tip number five is to have processes systems everything in place So then that way you have a well-oiled machine that allows you to run in at max capacity and Efficiency which allows you to save money and allows you to travel as you wish and you don't need to be there So there you go the five tips awesome rise for you I really hope you enjoyed this video if you find any value at all make sure you smash the like button because That's how I know to create more of these videos for you Otherwise make sure you guys subscribe along the journey if you haven't done so already make sure you guys download the resources and Links below. I'll see you guys in the next video