Profitable Hospitality Podcast

Lots of people dream about having their own business, but get stopped by a lack of funds. It takes money to buy equipment, renovate premises, legal fees, builders, electricians, marketing and the stock to get started. Maybe the bank will help, or a rich admirer – we wish!

Another option is Crowdfunding – where you put an investment proposition together and raise money from a lot of small investors. In this interview, Ken Burgin talks with icecream entrepreneur Scott Kilmartin of VintageIceCreamTruck.com. He’s currently funding the renovation of his vintage icecream truck Grace.

Crowdfunding is a great idea and it can be successful IF you prepare properly and understand how the process works. That’s what Scott explains to us in detail – how he’s going through the funding process and how it could work for your new restaurant, cafe or bar. Just recently a country town in Australia raised $600,000 through this process to rebuild their beloved pub that burnt down – anything is possible!

 

Direct download: Podcast2014720Edited.mp3
Category:business -- posted at: 5:24pm AEDT

We usually go all out to ‘win’ – nail down tough conditions and low prices from a supplier, and not give an inch to customers who ask for a better deal. And as for more pay, forget it! Sometimes we win, but sometimes our negotiation ‘foe’ takes their business elsewhere. Then it becomes Win-Lose, not the Win-Win that will put both sides ahead.

In this interview Ken Burgin talks with business development consultant Diana Tapp of Real Changes. She has helped hundreds of business owners and managers to develop their negotiation skills and become much more effective with business communication. We discussed negotiation tactics with staff asking for a pay rise, and with organisers who want your ‘very best’ price for an event package (when you’ve already at rock-bottom). We also talked about how to set up an agreement with a new supplier so both parties can move ahead with confidence.

It’s easy to just focus on price, price, price – and that usually shows lack of experience. Diana Tapp gives us four winning ways to make negotiations more effective, and ultimately more profitable for all concerned. This interview has great content for managers, chefs and business owners – it’s a skill everyone needs to improve!

 

Direct download: Podcast2014620Edited.mp3
Category:business -- posted at: 4:31pm AEDT

The words we’re often so nervous about saying, or hearing: We Need To Talk. It may be an honest conversation with an employee whose performance has slumped, with a business partner about sharing the workload, a supplier about prices, or even with someone in your family. Most people aren’t good at these conversations, and we don’t learn it at home or at school. 

In this interview, Ken Burgin talks with Andrea J Lee, a business coach and writer who’s helped hundreds of people to handle interpersonal communication much more effectively. Her new book We Need to Talk sets out a simple and powerful model to help ‘untangle the stuckness’ with the conversations we fear. It can help with money conversations, employee interviews, time-wasting meetings, handling apologies to customers and even just saying No to requests you’re not excited about. We all need to be more assertive and ask better questions – I'm sure you’ll find this interview extremely helpful in all areas of your business and personal life.

 

Direct download: Podcast2014520Edited.mp3
Category:business -- posted at: 11:32am AEDT

Partnerships sound like a great idea – share the resources, the work and the brain-power. More inputs mean more profit, so 1 + 1 = 3, right? But most partnerships don’t work out as hoped – the expectations were unrealistic, the profits weren’t there, or the division of time and responsibilities led to disagreement.

In this interview Ken Burgin talks with lawyer Richard Edwards of Whites Legal. He’s helped many business partners set up a cafe or restaurant, helped others to fine-tune their agreement, and assisted others to end their partnership. Hopefully the termination will be amicable, sometimes it’s not. We discussed essential elements of a partnership agreement, the division of work and profits, buy-sell agreements, and how family members can come into the equation. If you’re planning a partnership for a cafe, restaurant or bar, or you’re in one and have questions, this is an excellent source of information.

 

Richard was also interviewed in Podcast 93 on Legal Essentials for a New Cafe, Restaurant or Bar

 

Direct download: Podcast2014420Edited.mp3
Category:business -- posted at: 9:44am AEDT

Effective teams need good leaders, and that's the topic of a new book by Gihan Perera – ‘There’s an I in Team’. It upends the cliché that 'there's no I in team', and examines the leadership needed for a modern organisation – effective teams need good leaders, they don’t just wait for the right course of action to emerge.

In this interview, Ken Burgin talks with Gihan about the three essentials for an effective leader in the digital age: Be a Leader People Want to Follow, Build a Team They Want to Be a Part Of, and Reach Out to a World that Wants to Help. Gihan Perera has a unique ability to make management concepts clear and achievable – you will enjoy the many insights he has for all of us in hospitality. You can buy the book in paper or digital format at There’s an I in Team, and follow Gihan on Twitter and LinkedIn.  

 

Direct download: Podcast2014320Edited.mp3
Category:business -- posted at: 10:00pm AEDT

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