Category Archives for "Start-up"

A discussion of “Today’s Entrepreneur”.

Entrepreneurship , Growth , Operations , Refine , Start-up

Today’s Entrepreneur emphasizes the importance of understanding your customer, building a strong team, and creating a remarkable business model. Sorge advocates for a customer-centric approach, utilizing social media and other engagement techniques to cultivate relationships and loyalty. The book provides practical advice on business planning, financing, and scaling, with a focus on systemization and consistent product delivery. Ultimately, it encourages readers to develop a mindset of continuous creation and growth, fueled by passion and a desire for constant improvement.

Get comfy and enjoy a quick listen!

Do we have to consider operating costs for a couple of months after initial startup of a restaurant?

Start-up

I would suggest 6 months of operating costs, but HAVE to is a different question? However, in the more than one dozen restaurants that we’ve opened, we’ve never actually done this. It’s REALLY TOUGH to budget this way. I might suggest 90 days of your forecast payroll and rent expense as a minimum to budget for if you can.

In the end, be willing to NOT BE PAID YOURSELF for the same duration, to be safe.