A sales funnel represents the marketing and sales process in the form of a funnel. It shows the journey of potential customers from the first contact to the conclusion of a sale, using concrete figures. It is of great importance, because no marketing and sales process can be controlled without daily updated figures from your sales funnel.
After a decade of prosperity and a fight for the best talent in the market, many companies are switching to pure labor cost management. The battle for talent is interrupted. Switching to “crisis mode” presents companies with many challenges, such as:
There is no return to the old world before COVID-19: let it go. With the coronavirus crisis, our world experiences not only the often-quoted slowdown or sometimes even a full stop or crash, but also an extreme deconstruction of everyday life with all the resulting economic relationships. It suddenly becomes more obvious what actually holds the world together and what does not.
Design Thinking is a customer-centric and iterative method for solving complex problems and developing new ideas. With the Design Thinking method, you will succeed in developing a superior solution from the customer’s point of view, taking into consideration profitability, practicability, and desirability.
I’m excited about change. In this time of change, we as leaders and the holders of the status quo are being put to the test. Success will come to those who can adapt the fastest and most effectively to the new needs of the market.
The Sunk Cost Fallacy describes a psychological phenomenon in which we hold on to decisions because we have made a high initial investment and for this reason do not want to walk away from it. The saying goes, “I’ve already put so much into it, I can’t back out now.”
The spaghetti diagram is a tool that displays the paths of guests, employees and material flows within a workplace layout (e.g., a restaurant or hotel room).
Positioning in the hospitality industry is an organized system for opening a door to the guest’s memory and anchoring yourself there. Positioning means taking a particular position and standing for something specific and distinctive, and not others. Consequently, positioning is a conscious preference for certain guests and a renunciation of other guests.
The company is like an organism. The organism must be kept in motion so that blood can circulate and all the important organs are well supplied. It is the same in a company. The company must not stand still. To achieve this, all top performers should be integrated into the cycle of constant movement and improvement. Ask regularly where there is room for improvement, and make this system part of your corporate culture. In the end, this will ensure your survival during the crisis and positive cash flow.