From Assumptions to Confidence: Unleashing the Potential of Logic in Hospitality.

This newsletter is powered by Auden Hospitality to help you think differently about growing your hospitality business.

I often talk on LinkedIn about how I lead projects with a data-driven approach, by doing this, I find it easier to implement change, influence teams and collaborate with key stakeholders more effectively.

This is because;

? I don't give my personal opinions

? I don't make pre-judgements

? I don't make assumptions

Instead, we use data to;

? Use data to back up our findings

? Listen to the teams to understand their pain points

? Understand how the data backs up these pain points

? Create clear action plans

See how we used this exact formula to create operations and design toolkits with the team at The Social Hub ---> See more here

There are a number of ways in your everyday operation where this formula can be adopted, meetings, strategy, product development, and menu engineering but to name a few.

Today, I want to share an example I see so often in businesses that are struggling to hit their targets on a consistent basis.

When writing a business plan or budget, it is so important to build logic into your numbers.

Because without this, the numbers are built on assumptions.

And remember no one likes opinions!

How many times during your career have you had to assume a fact because you don't think you have the data available to back up your gut feeling, or you didn't know how to build a logical plan?

Would you like to learn how to unlock the untapped data that sits in your business today?

Join me and Derek Smith for a LinkedIn Live to hear more ---> Sign up here

When we work with our clients to build their business plans, we are conscious of delivering accurate numbers that come with an informed data-driven approach that can be easily broken down and explained so that the stakeholders can be confident in their approach.

You can see from the image a data sheet for a QSR concept. The image shows the logical formula we use to produce the revenues for our business plans and budgets for a first year business.

The sheet is built on a simple formula of throughput and seasonality.

Even with no historical benchmark, it can be built on data of industry and regional standards to produce a set of numbers that can garner confidence.

It is simple to adopt this process into your everyday life but often operators can't access resource easily to be able to use it to their advantage.

Its about making it accessible (not password protected for the senior management), easy to understand and presented in simple way.

Because unlocking knowledge in your business is a far more effective way to grow.

Because we all know about the old saying 'to assume' (if you don't ask me in the comments ??).

Thats it for this week.

Have a good one

Scot ???

I would like to use this weeks "when your ready" section to give a huge shoutout for Bal Mahey and Benjamin Marchant .

We are one month into the launch of Auden Procurement and this week have been working on achieving great efficiencies for three of our clients.

See these numbers!

Client 1. Five star hotel - 11% saving on four key suppliers

Client 2. 12 strong UK restaurant group - Achieved 25% saving on their supplies

Client 3. Catering Company - Consolidated their supply chain and preparing their final proposal that will deliver a saving on three key areas of their business.

Beers are on me ????????????

PS. like these results, reach out to them on DM, see how we can help.