771: Coffee with Eric and Friends-- Profit First and Partnership Agreements

Today's episode is a recording of "Coffe with Eric" that took place last week. I don't normally publish these, but this one was special. This session of Coffee with Eric is a PERFECT example of how I envisioned them going down: Someone in my network (a listener) needed help. They reached out to one of my past guests (Kyle Inserra). Kyle made me aware of the listener's situation, and I invited the two of them to a session of Coffee with Eric to mesh it out. Plus, we popped off the session with a really great conversation around Profit First. Frankly, the conversation around Profit First was another reason why I thought this recording of Coffee with Eric would be great to share. With 2021 freshly upon us, you still have plenty of time to implement Profit First before the end of the month Show notes… Calls to ACTION!!! Subscribe to the Restaurant Unstoppable YouTube Channel Join the private Unstoppable Facebook Group Join the email list! (Scroll Down to get the Vendor List!) In this episode, we discuss: The benefits of Profits First money management system Setting up your Profit First Checking Accounts What to consider including in your partnership agreement.  Understanding that sweat equity holds value.  Today's sponsor: 7shifts is a modern labor management platform, designed by restaurateurs, for restaurateurs. Effectively labor management is more important than ever to ensure profitability and restaurant success. Trusted by over 400,000 restaurant professionals, 7shifts gives you the tools you need to streamline labor operations, communicate with your team, and retain your talent. Best of all 7shifts integrates with the POS and Payroll systems you already use and trust (like Toast!) turning labor into a competitive advantage for your business. Restaurant Unstoppable members get 3 months, absolutely free. Ecolab: Streamline your clean with Ecolab’s new EPA-registered 2-in-1 solution, Sink a Surface Cleaner Sanitizer. It will help reduce risk, simplify your procedures and help ensure compliance. This solution cleans and sanitizes hard non-porous surfaces with a single product, eliminates the rinse step and equips your staff to clean more efficiently. Clean simplified, confidence delivered. RestaurantOwner.com is an online community of independent restaurant owners and managers who want training and tools to build a better restaurant and a more profitable, successful business. Resources include hundreds of downloadable templates, training videos and online courses on topics such as recipe costing, prime cost, improving the guest experience and building a positive culture. RestaurantOwner.com also conducts regular live webinars on a variety of timely and relevant topics. Whether you’re thinking about opening a restaurant, in the planning stages, or already have multiple locations, RestaurantOwner.com has resources that can help you make better decisions, streamline operations and elevate the thinking and level of engagement of your team.   Thanks for listening! Thanks so much for joining today! Have some feedback you’d like to share? Leave a note in the comment section below! If you enjoyed this episode, please share it using the social media buttons you see at the top of the post. Also, please leave an honest review for the Restaurant Unstoppable Podcast on iTunes! Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show, and I read each and every one of them. And finally, don’t forget to subscribe to the show on iTunes to get automatic updates. Huge thanks to Kyle Inserra for joining me for another awesome episode. Until next time!   Restaurant Unstoppable is a free podcast. One of the ways I'm able to make it free is by earning a commission when sharing certain products with you. I've made it a core value to only share tools, resources, and services my guest mentors have recommend, first. If you're finding value in my podcast, please use my links!

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