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Catering bill book for Management

for the first 15 to 17 years of our company tasty caterings existence we focused on sales growth we do anything we could to grow sales uh we'd undercut competitors match price quotes do whatever it took to keep fueling that growth because we knew that that growth was the the key to our future after 15 years of that we realized we're not getting as much profit out of those sales even though they were growing 25 to 32% a year the it wasn't growing it was staying the same so uh spurred by Tim our cfo's uh guidance uh we focused on profit uh we realized that some of the accounts we were servicing just weren't profitable some of the orders we were taking weren't profitable so we really tried to educate our staff on what was profitable sale and what was not a profitable sale the great C Business is a forward forecasting model you spend about 10% of your time looking back at last month and 90% of your time looking forward because you still have time to adjust your line item you're responsible for this month we have a whole wall that is our p&l statement and it's broken down into line items it starts with the sales the income on the top corporate sales and special event sales and then all the expenses the cost of goods sold items and and then all the expenses and everybody in the company owns one line I've got a 26-year-old Logistics delivery driver worrying about our fuel costs and another 24-year-old driver worrying about Auto Repair so I don't lay awake at night thinking about those things because we've got employee owners that are thinking about that and then there's the balance sheet and it shows how the accumulative profit transfers over to the accumulated profit the monthly profit transfers to the accumulated profit and it shows how income does not necessarily mean cash and we realize that we don't want anybody to wonder what's going on or or where we're headed or how we're doing if we're making money if we're losing money we want everybody to know number one is job security and if we're transparent people understand that their job secure and if we're doing bad then they understand okay we need to turn things around to keep their job secure a great example of a mini game that we've played here at Tasty catering was The Culinary staff uh they developed a waste mini game uh to track food waste because in our business waste is money uh they they separated and weighed the organic waste uh for six consecutive weeks and determined that for every $100 in sales we threw out 1.66 lbs of food scraps so they set a Target to make Improvement at 10 20 and 25% of their levels they hit all three of their targets and uh they got to plan what we had for lunch they went out to dinner as a team and they got their personalized Chef's coats so we had a 2% improvement in our food cost which was huge for the company now we have the salad station examining every tomato every honeydew melon every cantaloupe that comes in the building and rejecting the ones that don't meet the standards acceptability standards and then we get credit for it because their food cost it's part of their food cost and food costs broken down into different teams and stations yeah being open book does it really keeps the employees engaged it has gives them a sense of ownership so they take everything that they do in their daily routine of being an owner what would the owner do you know they don't want to see any waste they don't want to see any loss of efficiency they want to strive to hit our numbers and our goals and if they do then they're rewarded the same way the owners are in the first year we had a 10-point sales increase and we had 142 Point profit increase that's dumbfounding he