FEDHASA Cape Member Networking Breakfast – Summary.

FEDHASA Cape Member Networking Breakfast – Summary.
November 12, 2018 Ernestine Cupido

FEDHASA Cape Member Networking Breakfast, 7 November 2018

at Hotel Verde, CTIA.

‘Recession-proofing your business’:

In his enlightening talk, Graham, highlighted the following:

To rather focus on ‘Running your business’, than the matter of recession-proofing it.

He highlighted the following 3 important pillars:

1.Owners / Shareholders

  • To establish the importance of cash vs. profit, i.e. know your numbers
  • Focus on productivity, know the drivers of your costs in order to run more efficiently
  • Know WHY you are in business – take away the ‘commoditisation’ and create differentiation
  • Have a plan and know where you want to be

2.Customers / Guests:

  • Understand your customer
  • Know your business environment & competition (understand the market that you are in.)
  • Use your existing/repeat guests – i.e. Create loyalty, use your existing customers as ambassadors

3.Employers / Staff:

  • Staff engagement
  • Have processes in place & train the staff to understand them & why they are important
  • Live your company y core values

 

Don’t forget to be present in your business and ‘shake the matches’.

KnowWHY do you do it & HOW can you do it differently.’