Financial Habits of Successful Cafe & Restaurant Owners
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Ken Burgin had a lively conversation with Brisbane accountant Jason Andrew, who is keen to challenge the financial habits of hospitality entrepreneurs. Their decisions are too often based on ‘gut feeling’ and emotions, rather than the truth that accurate figures can reveal. Jason has just published a book Stark Naked Numbers, and gives a great blueprint for ‘High Touch’ businesses like cafes and restaurants, and how they can focus on the daily and weekly numbers that show what’s really happening.
We also discussed his 5 Principles for running a successful business, starting with a commitment to make yourself redundant, and then working to maximise margins, optimise cashflow, leverage your assets and continually ‘sharpen the saw’ with learning, innovation and better business habits. Whether you’re a ‘numbers person’ or not, you will learn a lot from Jason’s approach to making a business successful.
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