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Post by susiekaz on Feb 6, 2014 20:05:13 GMT -6
This video makes perfect sense! I'm sure there are many business owners throughout the United States that wish they would have stopped to think about exactly what this video was explaining before expanding their business. I know for my own experience, I have seen the restaurant I have worked for the last 13 years expand into nine stores and contract back into only three stores. I'm sure one of the most important reasons for the contraction was the speed at which the restaurants grew. The owner should have stopped to ask himself, am I able to do this well, with the same quality while continuing my original core values?
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Post by xingboma on Feb 7, 2014 22:56:14 GMT -6
Expanding a business is very critical to the original business. It can lead to great success, and it can also cause major crisis. Business owners should ask themselves questions in order to make sure an expansion is going to truly benefit. What type of expansion? Is it going to be same product in a new market or new product in the same market? Why is expansion needed to current business scale? Can company afford such expansion financially? Where to locate the expansion? Does company have the right personnel with required skill set?
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Post by darnette on Feb 8, 2014 23:10:11 GMT -6
Growing a business too fast can actually be a problem. You dont want to grow and expand too quickly. As you grow remember your core values and remain organized. Don't wait until it's too late to start changing your game plan anf vision. Be well prepared before taking it to the next level.
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Post by asanchez on Feb 9, 2014 14:57:05 GMT -6
I completely agree with the idea of expansion and the way these two knew they had to make sure the product did not diminish because of it. I think that the best way to expand is to have plans in place and know ahead of time that you can carry on the original idea into the new location. A lot of time people expand just because they can, but they don't do enough research into locations and their target market to know what will and what won't work.
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Post by Deleted on Feb 9, 2014 20:33:39 GMT -6
Brand name is most important. Having a good brand name and keeping the quality of food consistent can determine the success of your business. Ironically, it can also hurt your business. Learning to grow and expand with your customer base is what can make or break you. The customers are who you are striving to please.
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Post by godwesso on Feb 9, 2014 21:50:16 GMT -6
Very useful advice about business growth through expansion, I liked the title and how they laid out their points. I liked how they talked about checking on the initial store and finding out the demerits and fixing those problems before expansion. And the fact that they do follow up by tasting the food at the other store was pretty cool.
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Post by bmcgarry13 on Feb 10, 2014 15:21:53 GMT -6
Expansion, just like any other investment, can be either useful or dangerous. Returns and success are not always guaranteed which can make growing business in other locations scary. The greatest advice the video provides is to always remember your core competencies from the original location. If success is achieved in one location, it is most likely because you are doing something right! Therefore, you should take all previous skills, inherent or learned, from the first successful location and transfer/instill them into your other location(s). This ensures brand identity and integrity which allures new customers, while making the old ones feel comfortable. If marketplace and consumer demands change, a business should consider change as well, but not until they set a good foundation through core competencies. Otherwise, rash and hasty business changes can hurt a business.
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Post by jessicaratelle on Feb 11, 2014 9:08:28 GMT -6
In this video, I think that the attention to detail really stood out. That is one of the easiest ways to failure is to quit paying attention to detail. I like how they said that whenever expanding, always remember the first goal you had and why you started this in the first place. If you are constant with your quality, never compromising, you should be sure to stay successful. Another great idea is the checklists. Checklists ensure consistency. I have seen this on first hand basis in working that a restaurant. A checklist not only helps you to remember what should be done, but also holds each person responsible. If something is not done, you can go back to see who initialed on that checklist, and easily get to the bottom of why it wasn't done. I enjoyed this video and I like the mindset that the owners of this burrito business have.
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Post by patrickschwaner on Feb 11, 2014 16:42:55 GMT -6
I like the philosophy that these guys have. I've seen too many businesses, especially restaurants, expand too fast because they are trying to make as many quick dollars as they can. But what happens in these situations is that the product quality and overall experience are affected in a negative way, and the businesses move away from the core values and culture which made the business successful in the first place.
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Post by asmith422 on Feb 12, 2014 18:22:50 GMT -6
This video showed the importance of building your business slowly in order to be the best it can be. They started they're business small and gradually decided to expand once they knew they absolutely could. I think it's critical not to try and expand your business too fast. If you don't take into consideration all the costs and responsibilities then a second third or fourth location may fail all too quickly. Make sure you perfect what you already have before you decide to expand any further.
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Post by allisonschex on Feb 15, 2014 18:30:36 GMT -6
Everyone wants their business to be sucessful but the hard part is keeping it sucessful with the same quality. When a company expands it can make or break the business quickly. The thing to keep in mind is to keep your customers happy and expand only where you are able to keep the same service.
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Post by sdoescher on Feb 16, 2014 11:31:27 GMT -6
I agree that rapid growth can ruin a brand. The statement that growing to fast carries more risk than growing too slow is an important one. The advice to prepare and plan before the new store is opened is an important one. A lot goes into the opening of a new store and this video does a good job of giving a ground level view of this.
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Post by jsherman on Feb 16, 2014 18:48:01 GMT -6
Great video, however there is a company out there already doing the exact same thing to the T that they are doing called Chipotle. It's not very popular in Louisiana, but I live in Texas and it is worshiped out there. The restaurant is the exact same and I believe that Chipotle is growing at a faster rate than them. So this company may want to come up with something different or a competitive edge if they plan on staying in business longer.
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Post by jessweaver on Feb 16, 2014 20:21:34 GMT -6
I think that many businesses get caught up in the idea that "bigger is better" persona. Many companies try to expand too quickly just to gain a competitive edge but what they ultimately do is ruin their brand. By expanding before they are ready, many companies tend to lose site of what is most important, their product. Sometimes, the product is what suffers. Whether, it is a type of food that is being prepared poorly or a product that is being made poorly. This video talks about how you should not lose site of why you started your business in the first place; you should not get caught up in just wanting to be larger because they think it will make them better. The video also mentioned that sometimes one location suffers because the owners tend to pay more attention to the other location and that is something that could be detrimental to a business.
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Post by arenee1370 on Feb 18, 2014 23:51:56 GMT -6
I really liked this video even though it seriously made me hungry and want a burrito. They made some really great points on what a company should do before deciding to expand their business. It was stated that a business growing too quickly is just as risky as a business not growing at all because it can die; taking care of things before expanding is important. The key to growth is remembering why you decided to open that first store and making sure that those same values are added to every other location. I even liked the way the video was set up. It didn't just have them sitting in a room giving their idea of how you expanding should work, there was such great visual to look at while listening to what they had to say.
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