Journal Entry: May 6, 2015
I have decided to make a small addition to the Features section of this site and will begin to highlight other small businesses that I have frequented over the years. It will feature both food related and non- food businesses, and will include the services provided and the people involved. I have found myself attracted to many of these places for the value and quality of the products as much for the people that own and operate them.
In addition, the section will feature some of the business concepts and theories I have developed over the years through many successes and many failures. I plan to have the links for the businesses and my input on the subject matter listed on the features page with the most current on top and the older features listed on the bottom for continued reference.
This is going to be less of a product review and more of business and people review, but if I choose to feature them, you can be certain that it is a place I like. They will probably not fit the profile of success that has been over used in most crowded suburban areas, but the small, and sometimes older joints that make it work despite the current trends.
You can absolutely imply that my choice is a recommendation, but please understand that taste is subjective and one of the many rules I have espoused for many years is applicable here, and serves as an example of the type of business input I like to promote.
To paraphrase John Lydgate:
“You cannot please all the people, all of the time”
Now add to that the “Pareto Principle”, made famous by the Italian economist (not an oxymoron, by the way) Vilfredo Pareto, commonly known as the 80/20 rule, since most of us do not speak Italian:
“You will spend 80% of your time on 20% of your customers”
My corollary after applying the syllogistic laws is as follows: “You are going to lose some customers, no matter how hard you try. So why shouldn’t I (the business owner) be the one who decides. Don’t be concerned that some will not like what you provide, and ABSOLUTELY do not be afraid to ask someone to leave.“ By eliminating some of those 20%’ers, you can free up more time and be less concerned with some of your detractors.
Let me clarify. I am NOT promoting the ridiculous business behavior currently being bounced around in certain midwest states. Discrimination against any legally protected group is an absolute atrocity. In addition, acting like an ass in public, and then blaming any retaliation on that status is very unfortunate. I acknowledge that both of these things happen too often in this country, and the former seems to be getting worse, leading the complaints of the latter to be a bit more realistic. Very sad.
This is not the kind of business advice you will find in many M.B.A. courses, and there is a overlying corollary to almost all of my theories. This type of behavior should only be in the hands of large stakeholders in the business. It’s O.K. not to empower your employees to utilize these principles. I firmly despise the whole L.C.D. process of management. That is designing rules for the “Lowest Common Denominator” of employee. But that is for another post.
I hope that this new addition will be of interest to the site visitors, and please feel free to send me your feedback.
Thanks for your time