Impact of Min Wage Increase / NYCHA Survey & Results

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See here NYCHA Survey and Results on Minimum Wage Increase

Why Did NYC Lose 15 Kosher Restaurants In 2018?

Why Did NYC Lose 15 Kosher Restaurants In 2018? by the Forward

“Everyone knows opening a restaurant is a tricky business. Only 21% of restaurant start-ups survive past 15 years, the average restaurant lifetime is 4.5 years, and 17% of restaurants fail within their first year of business. In the kosher community, all of those percentages are a whole lot higher.

2018 was a particularly terrible year, with 15 kosher restaurants closing up shop. Veteran Manhattan kosher restaurants — midtown’s Cafe K, the Upper East Side’s Italian restaurant Va Bene, and Amsterdam Burger on the West Side — shuttered their doors this year. The gourmet kosher supermarket, Seasons, on the West Sider; Basta, an Israeli artisanal pizza spot in midtown east; Maoz, a vegetarian falafel chain throughout Manhattan — all closed.”

Read more here.

Key Ingredients For Successful Organizational Change

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As we approach the end of 2018, many of you are probably planning business transformations for the New Year. However, the loftier the goals, the more care needs to be given to the process in achieving them. All organizations today face the need for more frequent and ongoing change in order to maintain their competitive advantages and relevance in the the marketplace. But change is exceedingly difficult in today’s more complex business battlefield. In the Navy SEAL Teams, we operated in what we referred to as VUCA environments: volatile, uncertain, complex, ambiguous. Sounds just like modern business doesn’t it?

Five Key Ingredients

Successful change formulas involve (1) vision, (2) benefits, (3) sponsorship, (4) resources and (5) methodology. If any of these five ingredients are left out, the outcome won’t taste all that great. For example, if aligned vision is lacking confusion sets in quickly. The key word being aligned. If senior leaders have varying ideas of what success looks like, things get messy really fast. When the benefits aren’t clear (or not clearly communicated), ambivalence occurs. Without full sponsorship from leadership, resistance spreads. Without resources, frustration. Without a clear methodology and approach, procrastination becomes the norm.

Read more in Forbes article here.

Simple Tactics for Building a Solid Business Reputation

“According to new studies, one of the top ways you can go the extra mile for your customers is by personalizing their shopping experiences.

One report predicted that by 2020, the customer experience will be more important than price and product when it comes to setting your brand apart. And according to another source, this data is already starting to take effect. Forty-four percent of consumers said a personalized shopping experience would likely result in brand loyalty.

Going the extra mile for your customers by making sure their shopping experience is memorable isn’t just a recent trend, though. Treating customers as individuals has always been essential for business reputations. Who wants to talk to someone who is ushering them out the door? Some other ways you can show customers you care is by listening to complaints, rectifying problems, and establishing a loyalty program for small business.”

See more here.

New NYC Ramen Restaurant Ichiran Is the Ultimate Spot for Introverts

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“Calling all introverts. A Japan-based restaurant, Ichiran, known for its solo dining booths, has just opened its second location in New York City. The popular Midtown ramen restaurant allows customers to enjoy their meal without distraction.

Here’s how it works — you place your order by filling out a form specifying exactly what you want. A waiter takes the form without uttering a word, and a few moments later the steaming bowl of Tonkotsu Ramen appears. You enjoy the ramen and when finished, you push a button and the empty bowl is taken away. All of this happens without a single spoken interaction.

The idea of solo dining first occurred to the creator of Ichiran when he noticed all of the distraction that came with eating in a restaurant. Thus, the flavour concentration concept was born. By sitting alone, diners are able to solely focus on the taste of their food, and therefore fully enjoy the experience of the ramen.”

Read more here.

PepsiCo CEO Indra Nooyi: 5 powerful career habits that drove her success

“PepsiCo CEO Indra Nooyi steps down today after a 24-year career with the company. Born in India, the 62-year-old was one of a handful of people of color to run an S&P 500 company. During her 12-year tenure as chief executive, Nooyi transformed PepsiCo into one of the most successful food and beverage companies worldwide. Her push for healthier snack and beverage choices, along with an eye for product packaging, led to an 80 percent sales growth in the 12 years she was CEO.

As a child in India, Nooyi and her sister were asked to play an unusual game. Each night at dinner, their mother asked her daughters to imagine what they’d do if they were the prime minister, the president or some other world leader. By the end of the dinner, the girls presented a speech and their mother decided which speech won her vote.

Though her mother instilled many traditional values in her daughters, she also encouraged them to be whoever they wanted to be. “She gave us that confidence,” Nooyi said (…).”

View full article here.

Face-To-Face Meetings Help Improve Sales Rates

The Sales Profession Saved My Life -- and Made My Company Millions

“(…) Prospects who refuse to make a final decision even after being held accountable to their previous declarations are politely telling you “no.” And keep in mind, “no” is a perfectly acceptable answer because “no” will not kill you in sales — “I don’t know” will destroy you with false hopes of commissions that will most likely never materialize.

This selling method can be applied to any number of excuses you are likely to hear at the end of your sales presentation. By addressing “I want to think about it” or “I don’t want to change suppliers” or “I need three bids” proactively, you will be in a very strong position to get a final decision about you and your company.

Never be caught flat-footed when it comes to objections and stall tactics. Proactively anticipate and prepare for whatever excuses may come up.

The key is to combine basic psychology and sales fundamentals to proactively eliminate the inevitable excuses prospects will raise to postpone making a decision. By removing the excuses ahead of time, the prospect will be more likely to make that final decision in your presence, which will dramatically increase the probability of a successful outcome.”

View more here.