Competitive Edge
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Competitive Edge
Creating your Unique Value Proposition to gain your Competitive Edge.
Curated by Marc Kneepkens
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How One Fast-Food Chain Keeps Its Turnover Rates Absurdly Low

How One Fast-Food Chain Keeps Its Turnover Rates Absurdly Low | Competitive Edge | Scoop.it

Hire for attitude, and train (a lot) for skill.

Many of us who are hungry for the latest dispatches from the war for talent look to to Silicon Valley. We want to know Google’s secret to hiring the best people or Mark Zuckerberg’s one tip for hiring employees. But in a world where most companies don’t operate on the frontiers of digital transformation, and most employees aren’t tech geeks or app developers, our appetite for unconventional talent strategies should probably extend to more conventional parts of the economy. Like, say, an amazing fast-food chain called Pal’s Sudden Service.

At first blush, there’s nothing all that amazing about Pal’s. It has 26 locations in northeast Tennessee and southwest Virginia, all within an 80-mile radius of its home base in Kingsport, Tennessee. It sells burgers, hot dogs, chicken sandwiches, fries, shakes—standard fast-food fare, although the taste and quality have a well-deserved reputation for excellence.

Dig deeper, though, and you see that nothing about Pal’s is standard for its business, or any business. The most obvious difference is its fanatical devotion to speed and accuracy. Pal’s does not offer sit-down service inside its restaurants. Instead, customers pull up to a window, place their orders face-to-face with an employee, pull around to the other side of the facility, take their bag and drive off. All this happens at a lightning pace—an average of 18 seconds at the drive-up window, an average of 12 seconds at the handout window to receive the order. That’s four times faster than the second-fastest quick-serve restaurant in the country. Read more: click image or title.

 

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Your BP template help me achieve the goals I've been trying for 5 years. The template led me to produce an effective tool to attract the investors I need.
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Via Martin McGaha
Marc Kneepkens's insight:

Your #employees will make or break your company. #Training them the right way will make a huge difference.

...“People ask me, ‘What if you spend all this time and money on training and someone leaves?’” Crosby says. “I ask them, ‘What if we don’t spend the time and money, and they stay?’”

That may be the most important lesson of all.

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The Sandwich That Ate the World

The Sandwich That Ate the World | Competitive Edge | Scoop.it
The founder of the world's largest restaurant chain explains how Subway became ubiquitous, and why surpassing his biggest rival came as something as a letdown.
Marc Kneepkens's insight:

If you really intend to build a successful company like this, take a look at this presentation from Dave Lavinsky, President of Growthink, the company that has helped many entrepreneurs and startups to grow into million dollar businesses.


Dave explains how to access the information to grow an 8-figure business.


Dave has created tools and products to 'cut the corners', to avoid the most common mistakes, and to go for the 'home-runs'. He created funding formulas, his 'Insider Circle', the 'Growthink University', and much more.


Take 20 minutes of your time and watch his 8-figure presentation:

https://growthink.infusionsoft.com/go/8ff/gt4045/ Good info.

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6 Factors in Taking Over an Existing Business

6 Factors in Taking Over an Existing Business | Competitive Edge | Scoop.it
Buying a business involves more upfront cost but less risk than starting from scratch.

If you think you have the chops to be an entrepreneur, but would rather not start with a new idea -- or just plain don’t have a new idea worth starting -- you may be a great candidate to buy an existing business instead.

While buying an existing business typically involves more upfront cost, it also presents less risk than starting from scratch. Financially, you’re looking at actual profit and loss records rather than rough estimates, and there’s a clear history of sales to point to. You may also acquire valuable patents or copyrights, or have the opportunity to drive a stagnant business in an exciting direction with your expertise. Read more: click image or title.



Get your Free Business Plan Template here: http://bit.l/1aKy7km



Marc Kneepkens's insight:

Buying a business saves a lot of hassle. If you are a good manager you can build on the work of the #founder. There is a proven model that probably needs some new energy. Beware for the hidden pitfalls though, do your #DueDiligence.

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