Restaurant Startup Mistakes
You Must Avoid
Young entrepreneurs are on the rise and many have more of desire to own their business than their parents did at their age.
A study gathered in the 2016 Paribas Global Entrepreneur Report reveals that new generations of entrepreneurs under 35, “The Millennipreneurs” are entering the ownership world.
This is one of the reasons that I’d started startyourrestaurantbusiness.com to share my own experience in starting a business and to help young and older entrepreneurs achieve success.
Here are questions that every aspiring young entrepreneur should answer before doing anything else. They will help you determine your vision and keep you driving forward no matter what.
Have A Vision!
Without a vision, you have no solid foundation to build your entrepreneurship on.
What is your purpose and passion for starting a restaurant?
What are the goals and outcomes you want to achieve?
If you want success, you must diligently and persistently keep your vision and goals insight!
Never Give Up & Never Lose Faith In Yourself!
Young Entrepreneurs Restaurant Startup Mistakes You Must Avoid
Mistake #1 Having no passion or purpose for the business you want to create.
I’ve been an entrepreneur for 3/4 of my working career and I’ve created several successful businesses. How did I become successful? The number one thing that drove my business success was passion.
Passion is what drives you.
Passion keeps you going when difficulties arise. There were so many times I could’ve thrown up my arms and simply given up, but my passion for what I was trying to accomplish caused me to keep going. I didn’t think about anything but making my food business succeed. In fact, once I started digging in setting my goals the thought of failing never even entered my mind.
Are you passionate about your cuisine and your service?
Are you passionate about being a business entrepreneur?
Mistake #2 Having no goals set up to achieve.
You need forward thinking and planning to succeed!
There is NO downside to setting goals or projections. Keep in mind that goal setting doesn’t have to be only about profits. It could relate to staying creative, finding and retaining employees, or anything that is important to enhancing your restaurant that can make you stand out from your competition. Setting goals provides the clearest way to measure the success of the company.
When your goals have been defined, you can develop a deeper understanding of how each decision plays a role in your success strategy.
Finally setting goals ensures that everyone understands what they are working towards. When your team clearly understands what you are trying to accomplish it eliminates a lot of the uncertainty.
Mistake #3 Don’t let your personal problems affect your business.
No matter how hard you try to conceal it, if you are burdened by problems, it will reflect in the way you run your business. This is why my advice is you should learn to fix your problems that are not related to your work beforehand. Not only is that the professional way to do things it is also good for your mental and emotional well-being.
Mistake #4 Not surrounding yourself with people who have the same mentality. Many young and new entrepreneurs when first starting out, may not really feel worthy, and attract people with the same mentality.
However, what I found out was that when I stuck to my belief and passion when starting my business I was able to pull in amazing people. When I put forward my vision with passion and purpose I attracted the right people who supported me and helped me achieve my success faster. I was able to find effective colleagues and business associates who helped me grow my business. Hiring great people in the food industry is no easy task ask anyone who is the business. That’s why it’s important to surround yourself right people and you’ll have a better chance of finding the right employees.
Young, successful entrepreneurs who draw intelligent people around them can make wise decisions. Hiring for greatness and working with these kinds of people is probably the best thing you can do.
Mistake #5 Not being open to learning!
You need to always have a learning attitude. Being a learner means diving into things and figuring them out when the going gets tough. More often than not in the startup of your business, you will run into situations you have little experience with.
Learn the ins and out and ropes of your restaurant business.
Be an expert and the best at what you do.
One of the main reasons why you should hire the best people is so you can learn from them. When you know your business from the inside out, you will be able to make wise decisions that are beneficial. You will minimize the risk of mismanagement and alleviate stress when you are hiring because you will know what each job/position requires.
Listen to One Young Entrepreneurs Success Story
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