Online Learning-3 Unique Dimensions to learning that Influence Business Results

Are you doing online learning the right way?

As a busy hotel manager, time is your enemy.

Despite that, you have to grow professionally to avail of opportunities for promotion and higher success.

But are you placing your entire professional development at stake with the way you learn?

The fact that most learning is uni-dimensional makes it impossible to retain knowledge.

This means you quickly forget what you learned.

This is gross waste of time, resources and money.

I will lay out a case for a kind of learning that you can retain longer and apply powerfully to your operation.

In this process, you will equip yourself with ingredients required for achievement of your targets consistently.

You would want that wouldn’t you?

Let us get to it then.

This Blog Post will cover

Online Learning - The Taste Buds Restaurant Story

Imagine you are owning and managing the Taste Buds Restaurant.

No, imagine for now, it is the next best to actually owning and managing!

Taste Buds restaurant is a 40 seater restaurant serving soups, salads, entree, desserts and select beverages.

The restaurant is located in a vibrant part of New Yore (yes, “Yore”) City.

All your learning of restaurant profitability concepts in the 6 Restaurant Profit Margin Recipes experience will be with reference to the Taste Buds Restaurant which you own and manage.

I can already imagine your taste buds tingling and the smacking of your lips.

Great Start!

You will begin the process by creating a menu of food and beverage items (be a Chef so to say).

You will then perform Menu Engineering analysis.

Kind of turn into a finance guy or gal.

Online Learning - What is the Integrated Content + Video + Spreadsheet Experience?

First, you will learn hands on how to create a Sales Mix or Menu Item Mix (this is Profit Margin Recipe 1) which will boost the Taste Buds restaurant’s revenue and profit.

Second, you will learn about contributors to revenue for the Taste Buds restaurant with particular reference to price.

• Pricing (Profit Margin Recipe 2) is one of the most powerful factors impacting revenue.
• You will learn about developing price leadership and prevent price resistance.
• And how to adopt pricing strategies that will boost restaurant profit margin.

Third, you will understand the relationship of restaurant revenue with its inventories.

• Inventories (Profit Margin Recipe 3) influence revenue and costs thereby impacting profit margin a great deal.
• You will optimize your inventories to boost profit margin.
• You will learn what inventories to hold and what to sell.

Fourth, you will learn how to identify the break even level for the restaurant.

• Break Even Level (Profit Margin Recipe 4) allows you to know at what point of covers served or revenue achieved you will equal first your fixed costs and then total costs.
• This profit margin recipe literally determines the survival capability and profit margin potential of the restaurant.

Fifth, using revenue, costs and profit of the restaurant, you will determine how much of the revenue flows down to the profit also known as Profit Flow Through (Profit Margin Recipe 5).

• Profit Flow Through lets you know whether, how much of your additional revenue is resulting in additional profit.

Finally, you will utilize all the key concepts you have learned in this course relating to your Taste Buds Restaurant .

• And you will identify the Key Performance Indicators (or KPIs) (Profit Margin Recipe 6) of the restaurant.
• These key performance indicators relate to revenue, costs and profit.

Online Learning - Challenges and Problems of Taste Buds Restaurant

What are the main challenges and problems of Taste Buds Restaurant that 6 Restaurant Profit Margin Recipes experience can help solve?

• Know where Taste Buds Restaurant revenue is coming from. – You will learn foundational Menu Engineering concepts.

• Which menu items are producing profit for Taste Buds Restaurant? – You will learn and apply Contribution Margin

• What pricing strategy should Taste Buds Restaurant adopt? – You will learn Pricing Strategies for penetration and focus on volume.

• What are the primary goals of Taste Buds Restaurant that I can help achieve?

  You will learn how to run a successful and profitable restaurant operation using the following key concepts:

  • Menu Engineering Analysis
  • Revenue Sources
  • Pricing Strategies
  • Volume Strategies
  • Cost Strategies
  • Profit Strategies

Online Learning - Increasing Restaurant Profit Margin

The entire purpose and content of 6 Restaurant Profit Margin Recipes course is structured to help you increase restaurant profit margin using integrated restaurant profit recipe experience (yes, experience, it is not just a course!!).

Increasing Restaurant profit margin may be:

• Capacity related.
  • Capacity means the Seating Capacity of the Taste Buds Restaurant.
  • This is the maximum number of seats that can be accommodated at a time.
  • You will be working with seating capacity a great deal in this course.
• Revenue related
  • Earning Revenue is the first goal of the Taste Buds Restaurant.
  • You will look at the sources of revenue which will help produce your profit in great detail in this course.
• Pricing related
  • Revenue of Taste Buds Restaurant is achieved by two factors one of which is price.
  • In this course you will understand pricing strategies that will boost not only your revenue but your profit too.
• Volume related
  • Apart from price, the other factor in achieving Revenue is volume.
  • Volume refers to covers served in the Taste Buds Restaurant.
• Profit Margin related
  • This entire course is focused on boosting profit margin of the Taste Buds Restaurant.
  • You will learn and apply techniques to boost your bottom line.

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Online Learning - Integrated Content + Video + Spreadsheet Experience

The 6 Restaurant Profit Margin Recipes is an integrated restaurant profit margin recipe experience.

Yes, it is an experience not just a course.

It is a completely different approach to restaurant profitability which we are very excited about.

A 3 Dimensional approach if you like.

Am illustrated content + videos + spreadsheet combination unlike any other!

Watch this video to learn what the 3 dimensions are.

It is the story of Taste Buds Restaurant, a 40 seater restaurant serving soups, salads, entree, desserts and beverages.

You will be owning and managing Taste Buds Restaurant through the 6 restaurant profit margin recipes journey.

During this journey you will know what impacts profit of The Taste Buds Restaurant and learn how to leverage decisions based on that.

Online Learning - Benefits of the Integrated Content + Video + Spreadsheet Experience

The significant benefits for YOU the student of this course are:

• End to end learning
  • The 6 Restaurant Profit Margin Recipes is a complete end to end learning experience.
  • You will begin the process by creating a Menu Engineering Worksheet for the Taste Buds Restaurant.
    • This is the heart of your restaurant revenue.
  • You will understand how to build a menu of items which will optimize your profitability.
    • Moreover, changes you make to your menus will be reflected in your Profit and Loss or Income Statement.
• 3 Secrets
  • The 6 Restaurant Profit Recipes is founded on three secrets – relationships, triggers and cause effect.
  • You will identify relationships between key numbers for the Taste Buds Restaurant.
  • You will then find out which number triggers other numbers.
  • Finally, you will see which number in Taste Buds Restaurant is the cause and which the effect so that you can take effective decisions in your restaurant operation.
• Scenarios for real life examples
  • To solidify learning, you will manage and run Taste Buds Restaurant using real life scenarios which are situations you will face in the Taste Buds Restaurant operation.
• Videos for faster learning
  • A key aspect of the 6 Restaurant Profit Margin Recipes multi pronged learning experience is videos.
  • Through byte sized videos (3 to 5 minutes), you will learn how to operate the Taste Buds Restaurant.
  • The 1 Minute Profit Boosters additionally provide quick analysis of key factors that will boost profit for Taste Buds Restaurant.
• Excel Spreadsheet for practice
  • Last but not least, a fully integrated set of Microsoft Excel Workbooks will allow you to build Menu Engineering Worksheets linked to Revenue, Costs and Profit for the Taste Buds Restaurant.
  • You can conduct menu engineering analysis and watch changes to menus being reflected in the Taste Buds Restaurant Profit and Loss or Income Statement.
  • This is extremely powerful multi-dimensional learning.

Watch this short teaser video to learn about this unique multi-dimensional learning experience.

Online Learning - Learning by Doing

Would you want to manage a restaurant operation (and learn) rather than learn about managing in an online learning course?

Campus based physical learning in schools and universities has become more expensive.

With covid-19 restricting it further, online learning has mushroomed into a multi-billion dollar industry.

The online learning market in 2022 will be worth an astonishing $1 Trillion.

Most Individuals cannot afford the steep campus based courses.

Or are in demanding day jobs (majority would fall into this category).

This means they may need to study simultaneously while working.

These individuals are thus looking to study online courses.

Sign Up below for Preview of the 6 Restaurant Profit Margin Recipes Experience + Amazing Deal!

Explosion of Online Learning

Online Learning has exploded in the past decade as a medium of instruction.

Reputed universities have often replaced a campus based live course with an online learning version with no decrease in enrollments.

In particular, micro courses which are short, say in a week and sometimes even in a single day are attractive to individuals who are occupied with busy day jobs.

They are able to invest some time on personal development.

At the same time they are able to complete online learning courses within a certain time frame.

This is compared to a diploma or degree program which can stretch from a year to two or four years.

The flexibility to be able to self paced study from your home is a great attraction in favor of online learning courses.

Moreover, technology has brought these course material to a smartphone or tablet.

And as said earlier, the fact is that you can complete the course within a time frame.

And pick up some important new elements of knowledge, then apply to your work, is a good draw.

Engagement Challenges in Online Learning

Having said that, online courses have the challenge of striving to engage the student as much as live courses do (or at least profess to do).

Engagement is a big part of live classroom teaching.

A lot of teaching in these classrooms can be tailored to the responses of students.

Eye contact and body language can be used to determine mood of students and so on.

Many times, responses of students can be used to gauge their level of engagement, comprehension.

This can be used to bring in the person to person interaction to overcome that.

Theoretically, all these forms of engagement which are hallmarks of live teaching are difficult in online learning.

But this has changed significantly over the past decade.

Research and surveys are showing that online Learning courses are catching up.

With the help of technology to bridge the gap caused by these engagement challenges compared to campus based courses.

How are they able to do this?

Enter a powerful approach to online learning using the age old storytelling.

Storytelling in Online Learning

Traditional lesson based online learning techniques are being rapidly replaced by injecting the power of storytelling into courses.

Human beings are wired from birth for storytelling.

We respond intuitively to stories.

We are natural born storytellers as well.

So, what is so special about storytelling?

Storytelling is the practice of weaving a plot, characters and narrative point of view into stories.

The fact that a plot and characters are major parts of a story bring in the element of emotion, suspense, drama.

This is why stories can be riveting.

They just innately touch a nerve.

Humans respond spontaneously to the magic of a story.

This power has been tapped into an online learning framework by educators in a big way.

Apart from online learning, business storytelling has burgeoned over the years.

Now it is firmly entrenched as a powerful technique to imparting learning.Consider this:

• Difficult to grasp concepts can easily be woven into a story context and presented to learners.

The amazing outcome of this is that the learners are not even aware as they listened to or watched on a video, stories.

That they have also been learning concepts and frameworks in an unobtrusive but effective way.

Scenarios – Contextual Online Learning

Scenarios are a type of storytelling.

The dictionary meaning of a scenario is:”a description of what could happen.”

You could say that scenarios are contextual storytelling.

This means, first a particular situation is taken in context and then a visualization of what could happen is played out.

Scenarios are powerful contextual storytelling.

In online learning they can be used with concepts that the course is teaching.

In business courses, their application is even more effective.

EXAMPLE

For example:

• Say, you are teaching the concept of “falling profits.”
• Instead of merely defining what that is, if you wove a story around it and
• Brought in a plot and characters involved in that business situation and
• Created an illustration around it,
• the concept will get ingrained in the learner more effectively.

So, a scenario goes far beyond merely an illustration.

It brings in the magical plot, character elements of storytelling.

In the process, it ends up explaining what the concept is.

The learner will be so engrossed in the narrative that they may not realize that they have learned a concept.

Of course, how well the scenario is laid out and is close to a learner’s existing knowledge environment are key to the success of scenarios.

But they do present teaching in an entirely different light.

What is your opinion?

Do you think scenarios and storytelling can make you understand a topic better in an online learning environment?

Sign Up below for Preview of the 6 Restaurant Profit Margin Recipes Experience + Amazing Deal! to learn about storytelling and use scenarios.

Action Steps You Can Take Right Now

STEP 1

Ask Yourself whether your learning is multidimensional?

STEP 2

Are you able to retain the knowledge you are acquiring?

STEP 3

Are you acquiring skillsets from your learning?

STEP 4

Are you gaining the ability to problem solve in real life situations?

STEP 5

Acquiring skills and ability on top of knowledge makes learning multidimensional

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