Hey! Kyle here. Every couple weeks, I share the best of what I’ve learned growing restaurants and local businesses.
In today’s edition, I’m going to cover:
1️⃣ A personal update
2️⃣ 2 insights
3️⃣ 1 simple business tactic
This is my dog, Vito. We got him fixed this week. A friend brought him this pillow tube as an upgrade to the cone. He’s doing well.
My hunch is dogs are able to quickly recover from just about anything because they have no conditioned firmware running the show — no past trauma remembered, no future anxiety feared.
2 Insights
#1: Don’t declare goals. Keep them to yourself.
This past August, I felt progress was slow. So I created ‘The Build In Public Challenge’ — I would go out, build, and achieve 3 big goals in 2 months (and I’d share everything I learned along the way).
This was a bad idea — I faltered on all 3 goals.
Worse, I lost some faith in my ability to get things done.
And as Alexandre Dumas said, “A person who doubts himself is like a man who would enlist in the ranks of his enemies and bear arms against himself.”
It turns out the mind actually mistakes the ‘declaring’ for the ‘doing.’ Derek Sivers explains in this short video.
A new mantra I’ve adopted, as a result: Under talk. Over deliver.
#2: The most valuable real estate in the world:
“The most valuable real estate in the world is the graveyard. There lie millions of half-writen books, ideas never launched, talents never developed. Most people die with everything still inside of them.” – Derek Sivers
What will the future of food technology look like?
In a recent episode of the Guest Getter Podcast, I tapped into Richard Munson for insight on how advancements are shaping our dining scene.
Richard is the author of Tesla: The Inventor of Modern, From Edison to Enron: The Business of Power and What It Means for the Future of Electricity, and most recently, Tech to Table: 25 Innovators Reimagining Food.
Imagine what our world will look like when:
- The food supply chain is meticulously catalogued in the blockchain…
- Your entire burger is grown in a laboratory…
- Pastry shops will have rows of treats created by 3D printers…
While it may not taste any different, it will solve massive problems related to sustainability, pollution, climate change, obesity, animal cruelty, and more.
Richard and I explore the potential impact on restaurants. Check it out.
1 Simple Tactic
An Easy Way To Always Find People Who Are Near Your Restaurant (+ Likely Hungry)
“Right Message + Right Person + Right Time” is a timeless formula because it works. The challenge is the infinite variables that can go into each factor.
So I like to use technology whenever possible to take the guesswork out of the equation — and determine the variables for me.
For example, you could always have a low-budget ad running on Facebook (or any ad platform) targeting people who are a) close to your business, and b) likely hungry because you run the ad at specific times (i.e. breakfast, lunch, dinner, late-night, etc.)
Here’s how you can do it with Facebook Ads:
1. At the Ad Set level, select “People recently in this location”
2. Enter your business’ address. Have multiple locations? No problem:
3. Select when you want your ads to run. For example, we recommend cafe clients run ads Monday – Friday from 6 am to 9 am:
BTW, I call this the ‘Blanket Awareness Approach’ where we blanket an area with awareness of our business. It’s a powerful habit-formation tactic.
If you enjoyed this, please consider sharing with a friend!
Cheers,
Kyle Guilfoyle
P.S. Which of the following are you most interested in learning about?
1) Acquisition — How to get more new guests
2) Retention — How to get past guests back more often
3) Maximization — How to increase check averages
Email me at kyle [at] nimblebar [dot] co and let me know so that I can tailor these newsletters for you.
