Restaurant business
Three R's of Growth
Build loyalty with regular diners through personalized service or rewards programs, encourage word-of-mouth referrals, and ask satisfied customers to leave positive reviews online.
Similar Situations
Optimism Bias
Business ventures: Knowing optimism bias can help you create more realistic business plans and strategies, accounting for potential obstacles and setbacks.
Pessimism Bias
Business ventures: Knowing pessimism bias can help you create more optimistic business plans and strategies, accounting for potential opportunities and successes.
Ishikawa Diagram
Business process optimization: Ishikawa Diagrams can help identify the root causes of inefficiencies in business processes, leading to improved process optimization.
Bannister Effect
Entrepreneurship: Seeing someone start a small business and succeed can give you confidence to pursue your own business idea.
Decoy Effect
Menu choices: Recognizing the decoy effect can help you select dishes at a restaurant without being swayed by strategically placed, less attractive options.
Monty Hall Problem
Restaurant choices: (Topic: Deep probability Understanding) Selecting where to eat based on the probability of having a positive dining experience, considering factors like food quality and customer reviews.
Peak-End Rule
Restaurant dining: Choosing dishes with exceptional flavors or presentations and ending the meal with a delightful dessert to enhance the overall dining experience.
SWOT Analysis
Entrepreneurial Ventures: Before starting a small business, entrepreneurs can use SWOT to assess their business idea, understand the market, and plan for potential challenges.
Wardley Map
Strategic Planning: Enhancing business strategies by understanding the market landscape.
I, T, X-shaped skills
Entrepreneurship: X - Integrating insights from various fields enhances business innovation.