By: Doug McNair, President and Business Strategist
For any business to be very successful and not just “get by,” particularly in a very competitive market, being good is no longer good enough, you have to be great.
I am not sure I can think of a more competitive business environment than the restaurant business. And I think there are lessons here that can be learned for the benefit of any business or even the public service. A restaurant has thousands of customers a week, and each visit offers the chance for the restaurant to leave a positive impression with the customer by providing great product and great service. A good product and good service is expected but an exceptional experience will have customers coming back. A recent report from the US cited a study where restaurant customers who rated their satisfaction as a 5 on a 1-5 scale were 4 times more likely to return than those who rated their satisfaction at a 4.
First, a restaurant (any business) must have great operations (consistent product and service, value for money etc.) and second, you need great marketing. And it has to be in that order. Get your house in order before you market.
Because there are so many fair and maybe good restaurants in the market and much fewer great restaurants, you need to be great to stand out, to have people come back, and for top line growth. I have seen what first operational improvement and second better marketing (great strategy and great execution) can do.
It’s no longer good enough to be good. Think Blackberry. You have to be great (how many times do we see that in the business world). Great companies have great products and great marketing. Think Apple.
That is the opportunity for Saskatchewan business (and public services). Focus on the value proposition, attention to great service and to great products, and your business will thrive. Be great in 2012.