In doing research for this blog, I reached to find the most impactful, value offering tactics and hacks that would help lead to explosive growth in your restaurant.
But…the reality is that tactics and hacks are not a reliable source sustainable growth, even if they are creating explosive growth right now. Because, both tactics and hacks become outdated extremely quickly. Customer acquisition methods are changing faster than ever and the channels in which you reach your customers are evolving at the same rate. So the tactics and strategies that are effective now in a lot of cases will be inefficient, if not useless, three months from now.
The lesson being, explosive growth is not a result of one tactic or hack, it is a result of strategic processes that consistently reveal and create tactics that result in explosive growth. These processes are what Brian Balfour calls a “growth machine”.
A growth machine has three components:
A machine is built to produce an ever growing engaged user base. The machine creates the tactics. The process makes the machine.
Bottom line: Tactics first is putting the cart before the horse. You need a process that will help you build a scalable, predictable, and repeatable growth machine. “
There are 3 reasons why growth machines are effective:
Growth Machines create meaningful feedback loops.
Growth is a sum of a lot of small parts. And the process for finding those small parts and putting them together to generate growth for your restaurant is a lot of times a matter of trial, error, and experimentation. Which is why your growth machine should be designed to track your efforts so that you always have accurate feedback on how your current strategies are performing. That way, you can use your data to make precise adjustments and calculated risks when it comes to your growth strategy.
Growth machines are designed to specifically serve your business
Growth strategy tactics and hacks used by other businesses are never going to be as effective as those designed for your business. Every business is vastly different, even within niche markets. And trying to mold someone else’s strategy to yours is never going to be as effective as creating processes that will help you create strategies tailored to your business.
Growth machines are controllable
The best thing about creating processes that help you manage your growth is that you are in control. The last thing you want the success of your business to rely on is the success of other businesses. When you have a data driven understanding of your growth efforts, you are always in control of the framework by which you are making your decisions and you can always improve and refine it. So, over time with the right application and focus, you should be able to create processes that will consistently generate growth in a way that you can control and are always improving over time.
Six Elements of a Good Process
- A way to set big goals against the areas that impact your growth the most
- A structured way to continually come up with growth ideas and experiments
- A way prioritize to those experiments
- A way to efficiently design those experiments
- Analysis of ever experiment whether it succeeded or failed
- Sharing of learnings across team and implementing them back into the experiment list.
Get those 6 things right and I think you are on the right way to success.