“KMA GOLDMINE TV EPISODE 29 – A Dry Run “

Here, Kim Marlor talks about the importance of innovative ways to increase your profits in the long term

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KMA Goldmine TV Episode 29 – A dry run from Picolino’s resturant.

Hi Kim, here from KMA, Goldmine TV aimed at helping you to take your business from where it is now to where you want it to be.

As you can see, I’m out and about again, it’s a lovely day and I’m back at Picolinos restaurant. You might think, why am I here? Well, it occurred to me that Picolinos were masters at marketing! Let me explain; A number of years ago now, when they first started out, what they did was in the first week they threw open the doors to local businesses and local residents and invited people to come in. It was special invite only. To come in and effectively have dinner on the restaurant. So of course they used it as a way of training their staff, making sure that they knew the processes and procedures and the systems, what to do, that the kitchen could get their food quality right and obviously the bar stuff, getting the drinks right, the service and front of House.

So, they basically had a week to iron out, all those little niggles that you often get. Now we both know that the restaurant trade, it’s notorious for coming and being in business one day and out of business the next. If I looked down Hale high streets, most of the restaurants have come and gone in the time that Picolinos have still been here and it’s a very successful restaurant. They bought an awful lot of customer loyalty when they did that. Plus they were able to train this stuff in a real life situation. But actually, buy customer loyalty, because, David and I came with Tenesha, we bought some drinks. Obviously the food was complimentary. It would be fair to say that the service was a little bit slow, but we didn’t care because we weren’t paying for it.

So, we enjoyed our evening and it made us want to come back and we’ve come back time after time after time since now. Now, they didn’t have to do that, but they did. So sometimes people think that they have to charge for absolutely everything. You know, you can’t do anything and think outside the box. Well, I’d like to challenge you on that. What can you do to just think differently about your business? A bit of a soft launch, maybe on a new product or service, just testing it out, you know, trying different prices may be what can you do that means that your customers are going to be slightly more forgiving and by loyalty in the long run, maybe doing something that maybe a discounted rate rather than the full rate because you’re just trialling out that system. You don’t have to do it forever.

Like Picolinos, they just did it for one week, but it paid dividends in the future. You know, sometimes you do have to speculate to accumulate, whether it’s giving something away, that’s very, very little cost to you because in truth, that’s what Picolino’s did. You know that food didn’t actually cost them that much. You know, drinks would have done, which is why you paid for it. So just think differently about your business. How can you do something like that in your business to test something out, you know, new staff, whatever that might just all filter down to the bottom line. Increasing your profits in the future. That’s it for this week’s edition. KMA Goldmine TV until next week.

If we can help with anything included in this edition or if you’d like to talk to us about anything Accountancy or Business development, then call us now on 0161 410 0016.

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