The biblical Ten Commandments were intended to act as a driver's manual for the road of life. "Thou shalt not kill." "Thou shalt not lie." These are life's version of the stop-at-the-red-light-and-advance-when-safe rules of the road.
In other words, they are all guidelines to keep people out of trouble. Because life's highways are full of potholes, blind turns and bad drivers, the investing world also suffers from scandals, scams and dishonest companies. Here are 10 commandments for the investing world designed to help keep investors - and their money - safe:
1. Thou shalt set clear goals.
If you don't have a purpose or a set of goals to guide your investment strategy, don't invest. This sounds harsh, but there are so many types, styles and flavors of investing that, without a particular destination, you will be lost at sea.(For more on this, read Investing With A Purpose and Investing 101: A Tutorial For Beginner Investors.)
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Tuesday, June 30, 2009
6 Ways To Save Money This Summer
The time between when the winter holiday splurging is paid off and when summer spending rushes in to fill the void is roughly 2.6 milliseconds. Ah, but what a joyous 2.6 milliseconds it is!
With yard maintenance bills, air conditioning costs and the children home from school, summer can ravage your wallet all over again. Fortunately, multiple summer bills mean there are multiple opportunities to save money.
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With yard maintenance bills, air conditioning costs and the children home from school, summer can ravage your wallet all over again. Fortunately, multiple summer bills mean there are multiple opportunities to save money.
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The Return of Romance — Daiquiris Roll Into the Limelight
From The American Mixologist
The daiquiri is the quintessential rum libation. No, we’re not talking about the syrupy-sweet, blended concoction that many establishments now serve, but rather the classic daiquiri, the drink that originated back in the ‘20s and ‘30s, when the island was renowned for having the most capable, professional bartenders in the world.
The daiquiri cocktail swept through the Caribbean and eventually the world like a blast of good news. Crisp, refreshing and amazingly delicious, the daiquiri is experiencing a resurgence in the United States that borders on the phenomenal.
This is a trend worth riding. It mirrors the booming popularity of rum, which has quietly become the hottest growth spirits category in the nation. The drink enjoys all of the attributes requisite for longevity. It’s easy to make well and loaded with exotic appeal.
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The daiquiri is the quintessential rum libation. No, we’re not talking about the syrupy-sweet, blended concoction that many establishments now serve, but rather the classic daiquiri, the drink that originated back in the ‘20s and ‘30s, when the island was renowned for having the most capable, professional bartenders in the world.
The daiquiri cocktail swept through the Caribbean and eventually the world like a blast of good news. Crisp, refreshing and amazingly delicious, the daiquiri is experiencing a resurgence in the United States that borders on the phenomenal.
This is a trend worth riding. It mirrors the booming popularity of rum, which has quietly become the hottest growth spirits category in the nation. The drink enjoys all of the attributes requisite for longevity. It’s easy to make well and loaded with exotic appeal.
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Sunday, June 28, 2009
Singular Sensations
By: Sean Ludford
bittersweet tooth? OK, it’s definitely a bittersweet tooth, and one of its telling symptoms is a love affair with a set of new, glamorous and swanky liqueurs. The spirits world is buzzing with chatter surrounding a handful of imaginative liqueurs that offer unique and exotic flavors.
Most notable are St-Germain, a complex and striking elderflower blossom liqueur, and Domaine de Canton, a ginger liqueur with a Cognac base. The amount of attention given to these liqueurs by mixologists and beverage insiders is vastly disproportionate to their sales.
While these spirits enjoy great popularity, the raw sales figures would leave a vodka brand manager contemplating a leap from a tall window. However, the creators of these new spirits are encouraged by their success.
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bittersweet tooth? OK, it’s definitely a bittersweet tooth, and one of its telling symptoms is a love affair with a set of new, glamorous and swanky liqueurs. The spirits world is buzzing with chatter surrounding a handful of imaginative liqueurs that offer unique and exotic flavors.
Most notable are St-Germain, a complex and striking elderflower blossom liqueur, and Domaine de Canton, a ginger liqueur with a Cognac base. The amount of attention given to these liqueurs by mixologists and beverage insiders is vastly disproportionate to their sales.
While these spirits enjoy great popularity, the raw sales figures would leave a vodka brand manager contemplating a leap from a tall window. However, the creators of these new spirits are encouraged by their success.
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Thursday, June 25, 2009
Is $1 Million Enough to Retire?
by Emily Brandon
Whether it is five or 25 years away, many of us share the same nagging question about retirement. How much money will I really need? Geri Pell, a senior financial adviser for Ameriprise, says the answer depends on where you live and what type of retirement lifestyle you hope to have. U.S. News asked Pell for some strategies to help figure out your retirement needs. Excerpts:
How do you know if you're saving enough for retirement?
Most people don't know. The only way you can know is by figuring out what kind of retirement you want and how much money you will need. Many people are feeling very out of control and people have more doubts and more fears.
Sitting down and making decisions and developing a plan takes so much stress away from people.
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Whether it is five or 25 years away, many of us share the same nagging question about retirement. How much money will I really need? Geri Pell, a senior financial adviser for Ameriprise, says the answer depends on where you live and what type of retirement lifestyle you hope to have. U.S. News asked Pell for some strategies to help figure out your retirement needs. Excerpts:
How do you know if you're saving enough for retirement?
Most people don't know. The only way you can know is by figuring out what kind of retirement you want and how much money you will need. Many people are feeling very out of control and people have more doubts and more fears.
Sitting down and making decisions and developing a plan takes so much stress away from people.
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Car Dealer Tricks to Watch For
By Jared Gall
We know. Not all car dealers are unscrupulous, and not all are going to take you to the cleaners. Among all the “Honest Bobs” out there walking the lots, many really are trustworthy.
But there is a simple reason so many people dread buying a new car: the potential for rip-off is astronomical, and common practices over the years have often justified consumers’ fears. If you catch a whiff of any of the scams below, be on alert.
Juggling the Four-Square
This isn’t really a trick, but awareness here is important for a buyer. When you sit down to negotiate, the salesman will pull out a “four-square” worksheet on which to work out the terms of the deal.
In the four quadrants of the sheet the salesman will record purchase price, down payment, monthly payments, and trade-in value.
He will fill in the sheet as you talk, working the deal like a shell game—if he thinks you are preoccupied with getting a fair deal on your trade in, he might give you a good price for that and then nudge your new-car purchase price north.
Take it slow, focus on one item at a time, and be sure you are comfortable with each individual aspect of your purchase.
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We know. Not all car dealers are unscrupulous, and not all are going to take you to the cleaners. Among all the “Honest Bobs” out there walking the lots, many really are trustworthy.
But there is a simple reason so many people dread buying a new car: the potential for rip-off is astronomical, and common practices over the years have often justified consumers’ fears. If you catch a whiff of any of the scams below, be on alert.
Juggling the Four-Square
This isn’t really a trick, but awareness here is important for a buyer. When you sit down to negotiate, the salesman will pull out a “four-square” worksheet on which to work out the terms of the deal.
In the four quadrants of the sheet the salesman will record purchase price, down payment, monthly payments, and trade-in value.
He will fill in the sheet as you talk, working the deal like a shell game—if he thinks you are preoccupied with getting a fair deal on your trade in, he might give you a good price for that and then nudge your new-car purchase price north.
Take it slow, focus on one item at a time, and be sure you are comfortable with each individual aspect of your purchase.
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From Farm to Glass
By: Nightclub and Bar
Jon Smith has owned the small wine shop Cork & Bottle in New Orleans for nearly seven years. After the dry cleaners next door didn’t reopen post-Hurricane Katrina, he bought the space and added an adjoining wine bar called Clever.
The two spaces aim to take the snobbery out of wine shopping and sipping, and Smith, with help from bartender Kimberly Patton-Bragg, offers patrons organic wines and cocktails with interesting elements such as port, Lillet and fresh infusions of fruit.
The real twist? Some ingredients come from the parking lot.Each Thursday, Smith heads up a community farmers’ market in the parking lot outside Cork & Bottle and Clever. From mushroom growers to sweets bakers, area farmers and merchants attract crowds. Shoppers then stop in, have a wine tasting and buy locally grown produce.
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Jon Smith has owned the small wine shop Cork & Bottle in New Orleans for nearly seven years. After the dry cleaners next door didn’t reopen post-Hurricane Katrina, he bought the space and added an adjoining wine bar called Clever.
The two spaces aim to take the snobbery out of wine shopping and sipping, and Smith, with help from bartender Kimberly Patton-Bragg, offers patrons organic wines and cocktails with interesting elements such as port, Lillet and fresh infusions of fruit.
The real twist? Some ingredients come from the parking lot.Each Thursday, Smith heads up a community farmers’ market in the parking lot outside Cork & Bottle and Clever. From mushroom growers to sweets bakers, area farmers and merchants attract crowds. Shoppers then stop in, have a wine tasting and buy locally grown produce.
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Tuesday, June 23, 2009
The Best Jobs in America's Green Movement
by Patricia Cecil-Reed, FindtheRightSchool.com
Of President Obama's $787 billion stimulus package, an impressive $40 billion will be spent on the creation of "green jobs," jobs that have a positive impact on the environment. This should come as great news to job seekers. Many are getting on board for a green career. Some facts you may want to consider:
Of President Obama's $787 billion stimulus package, an impressive $40 billion will be spent on the creation of "green jobs," jobs that have a positive impact on the environment. This should come as great news to job seekers. Many are getting on board for a green career. Some facts you may want to consider:
- Opportunities for green careers are growing, and can be found across the nation.
- Contrary to popular belief, green jobs are not just for scientists and PhDs.
- Many traditional jobs are being given a green makeover.
- Building and manufacturing are popular sectors, but green jobs also include retail, science, and agriculture
The U.S. is currently seeing an expansion of two-year college programs focusing on green careers. Many students are betting on a boom in the green-collar job industry -- careers they can train for without a four-year degree.
With the right training, you can green your own career. Below are some of the most exciting green careers and information on how to train for them.
America's Best-Paying Blue-Collar Jobs
by Klaus Kneale, Forbes.com
It's a hard time for almost everyone right now, but it's especially hard for workers who don't have a college education. In 2008 the unemployment rate was 9% for people with less than a high school diploma, 5.7% for high school graduates, 2.8% for college graduates and 2% for people with doctorates.
Those numbers are all worse now, but they show that blue collar workers have been especially hard hit.
Still, there are blue-collar jobs out there in high enough demand to pay surprisingly well. We've put together a list of the 20 best paying ones. The numbers used for the list are drawn from the government's Occupational Employment and Wage Estimates. They are based on data from 2008.
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It's a hard time for almost everyone right now, but it's especially hard for workers who don't have a college education. In 2008 the unemployment rate was 9% for people with less than a high school diploma, 5.7% for high school graduates, 2.8% for college graduates and 2% for people with doctorates.
Those numbers are all worse now, but they show that blue collar workers have been especially hard hit.
Still, there are blue-collar jobs out there in high enough demand to pay surprisingly well. We've put together a list of the 20 best paying ones. The numbers used for the list are drawn from the government's Occupational Employment and Wage Estimates. They are based on data from 2008.
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Patrons Seek Selection
By: Nightclub and Bar
How many beers should you list on your menu? What about spirits brands? Wine offerings? How many are too many, and what’s too few? A recent online survey developed and executed exclusively for Nightclub & Bar by Next-Level Marketing/Nova Marketing yielded some insights on those very questions.
The survey of 1,000 adults ages 21 to 60 who had ordered a beer, wine or spirit drink at an on-premise establishment in the past 30 days was fielded in April and May.
The ideal number of beers appears to be between 10 and 15 brands, with consumers seeking the same breadth of wine selection, according to the survey. When it comes to spirits, the bigger the list the better: consumers responded that between 15 and 20 brands is the ideal number.
So if your beer list is scant, your spirits selection could be counted on one hand or your wine list reads like an epic, you may want to re-think your approach. Patrons want choices. Look for more consumer insights from the Nightclub & Bar consumer study in future editions of NCB First Round.
How many beers should you list on your menu? What about spirits brands? Wine offerings? How many are too many, and what’s too few? A recent online survey developed and executed exclusively for Nightclub & Bar by Next-Level Marketing/Nova Marketing yielded some insights on those very questions.
The survey of 1,000 adults ages 21 to 60 who had ordered a beer, wine or spirit drink at an on-premise establishment in the past 30 days was fielded in April and May.
The ideal number of beers appears to be between 10 and 15 brands, with consumers seeking the same breadth of wine selection, according to the survey. When it comes to spirits, the bigger the list the better: consumers responded that between 15 and 20 brands is the ideal number.
So if your beer list is scant, your spirits selection could be counted on one hand or your wine list reads like an epic, you may want to re-think your approach. Patrons want choices. Look for more consumer insights from the Nightclub & Bar consumer study in future editions of NCB First Round.
Monday, June 22, 2009
7 Lucrative Jobs from Obama's Stimulus Plan
by Carol Tice, PayScale.com
President Barack Obama's plan to get the U.S. economy going has a strong focus on creating jobs. Two of the bills he's recently signed, the American Recovery and Reinvestment Act (ARRA) and the Making Home Affordable program, provide funding that will create a wide variety of job opportunities with good salaries.
Better yet, many of these jobs don't require a four-year degree, so job-seekers may be able to move into these careers pretty quickly.
Here's a selection of some of the best-paying stimulus jobs:
Computer Security Specialist
A big chunk of the ARRA money is dedicated to health-care information-technology initiatives -- digitizing medical records so they're easier to transmit and share between doctors, hospitals and pharmacists.
Computer-security experts who can help keep electronic medical records locked away from computer hackers and other unauthorized users will be in high demand as the health-care sector modernizes, says Laurence Shatkin, author of "Great Jobs in the President's Stimulus Plan."
Other specialists will be needed to train workers on how to keep the data safe. A brief certificate program may suffice to get you started in this field, the Bureau of Labor Statistics (BLS) says. "There's going to be a special role here of how to keep prying eyes away," Shatkin says. Median annual salary: $78,376
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President Barack Obama's plan to get the U.S. economy going has a strong focus on creating jobs. Two of the bills he's recently signed, the American Recovery and Reinvestment Act (ARRA) and the Making Home Affordable program, provide funding that will create a wide variety of job opportunities with good salaries.
Better yet, many of these jobs don't require a four-year degree, so job-seekers may be able to move into these careers pretty quickly.
Here's a selection of some of the best-paying stimulus jobs:
Computer Security Specialist
A big chunk of the ARRA money is dedicated to health-care information-technology initiatives -- digitizing medical records so they're easier to transmit and share between doctors, hospitals and pharmacists.
Computer-security experts who can help keep electronic medical records locked away from computer hackers and other unauthorized users will be in high demand as the health-care sector modernizes, says Laurence Shatkin, author of "Great Jobs in the President's Stimulus Plan."
Other specialists will be needed to train workers on how to keep the data safe. A brief certificate program may suffice to get you started in this field, the Bureau of Labor Statistics (BLS) says. "There's going to be a special role here of how to keep prying eyes away," Shatkin says. Median annual salary: $78,376
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Can Vitamin D Deficiency Cause Alzheimer's Disease?
From Mercola.com
There are several risk factors for the development of Alzheimer's disease and vascular dementia. An increasing number of studies link these risk factors with vitamin D deficiency. Dr. William B. Grant of the Sunlight, Nutrition, and Health Research Center (SUNARC) suggests that further investigation of possible direct or indirect linkages between vitamin D and these dementias are needed.
Low serum levels of 25-hydroxyvitamin D have been associated with increased risk for cardiovascular diseases, diabetes mellitus, depression, dental caries, osteoporosis, and periodontal disease, all of which are either considered risk factors for dementia or have preceded incidence of dementia.
For example, several studies have correlated tooth loss with development of cognitive impairment. There are two primary ways that people lose teeth: dental caries and periodontal disease. Both conditions are linked to low vitamin D levels.
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There are several risk factors for the development of Alzheimer's disease and vascular dementia. An increasing number of studies link these risk factors with vitamin D deficiency. Dr. William B. Grant of the Sunlight, Nutrition, and Health Research Center (SUNARC) suggests that further investigation of possible direct or indirect linkages between vitamin D and these dementias are needed.
Low serum levels of 25-hydroxyvitamin D have been associated with increased risk for cardiovascular diseases, diabetes mellitus, depression, dental caries, osteoporosis, and periodontal disease, all of which are either considered risk factors for dementia or have preceded incidence of dementia.
For example, several studies have correlated tooth loss with development of cognitive impairment. There are two primary ways that people lose teeth: dental caries and periodontal disease. Both conditions are linked to low vitamin D levels.
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High-Tech Check
By: Michael Harrelson
Time was when a nightclub or bar’s best defense against underage individuals trying to get into their venue and partake of some adult libations was a no-nonsense bouncer with keen eyesight outside and a bartender or cocktail server inside with the wherewithal to ask for and carefully scrutinize an ID.
Today, both those folks are still crucial to the process, but their efforts are now supported by age identification technology that ranges from wristbands with a wire sensor that sends out a signal when tampered with to a scanner that can see in the dark.
Not only can high-tech systems for checking IDs prevent the underage crowd from crashing the party – which can result in fines and the possible loss of a valuable liquor license not to mention untold beverage revenues -- but they may also serve as the house’s best insurance against the subsequent jeopardy that comes with the youngster who might actually slip inside.
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Time was when a nightclub or bar’s best defense against underage individuals trying to get into their venue and partake of some adult libations was a no-nonsense bouncer with keen eyesight outside and a bartender or cocktail server inside with the wherewithal to ask for and carefully scrutinize an ID.
Today, both those folks are still crucial to the process, but their efforts are now supported by age identification technology that ranges from wristbands with a wire sensor that sends out a signal when tampered with to a scanner that can see in the dark.
Not only can high-tech systems for checking IDs prevent the underage crowd from crashing the party – which can result in fines and the possible loss of a valuable liquor license not to mention untold beverage revenues -- but they may also serve as the house’s best insurance against the subsequent jeopardy that comes with the youngster who might actually slip inside.
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Sunday, June 21, 2009
Better sleep, better living
By Shari Roan
Sleep isn't just a chunk of time carved out to recharge for the following day. Increasingly, scientific evidence shows life and sleep are woven together like 800-thread-count sheets. How people fare during their waking hours has a lot to do with how they sleep -- and vice versa.
Income, employment status, relationship satisfaction and hobbies all affect sleep, according to research presented last week in Seattle at the annual meeting of the Associated Professional Sleep Societies. And sleep affects health, relationships and decision-making.
"Sleep is related to everything," said Michael Grandner, a fellow at the Center for Sleep and Respiratory Neurobiology at the University of Pennsylvania.
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Sleep isn't just a chunk of time carved out to recharge for the following day. Increasingly, scientific evidence shows life and sleep are woven together like 800-thread-count sheets. How people fare during their waking hours has a lot to do with how they sleep -- and vice versa.
Income, employment status, relationship satisfaction and hobbies all affect sleep, according to research presented last week in Seattle at the annual meeting of the Associated Professional Sleep Societies. And sleep affects health, relationships and decision-making.
"Sleep is related to everything," said Michael Grandner, a fellow at the Center for Sleep and Respiratory Neurobiology at the University of Pennsylvania.
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What Surprising Exercise Cuts Your Cancer Risk by 40 Percent?
From Mercola.com
Men with stronger muscles from regular weight training are up to 40 percent less likely to die from cancer, according to new research.The findings suggest that muscular strength is as important as staying slim and eating healthy when it comes to protecting your body against deadly tumors.
A team of experts tracked the lifestyles of over 8,500 men for more than two decades. Each volunteer had regular medical check ups that included tests of their muscular strength.
The men who regularly worked out with weights and had the highest muscle strength were between 30 percent and 40 percent less likely to lose their life to a deadly tumor.
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Men with stronger muscles from regular weight training are up to 40 percent less likely to die from cancer, according to new research.The findings suggest that muscular strength is as important as staying slim and eating healthy when it comes to protecting your body against deadly tumors.
A team of experts tracked the lifestyles of over 8,500 men for more than two decades. Each volunteer had regular medical check ups that included tests of their muscular strength.
The men who regularly worked out with weights and had the highest muscle strength were between 30 percent and 40 percent less likely to lose their life to a deadly tumor.
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Creating Cocktails for a Cure
By: Nightclub and Bar
Whether at-home drink makers or professional mixologists, everyone can enjoy making a cocktail creation for a good cause at the upcoming 2009 Ultimate Cocktail for a Cure Competition.
The competition, benefiting the breast cancer foundation Susan G. Komen for the Cure, runs through August 31, with the finals being held in Las Vegas in late September. Three divisions will encompass the competition: amateur, professional and Ultimate Bar Chef, which features a mystery ingredient and time limit for contenders.
Sponsors for the event are SENCE Rose Nectar, Hendrick's Gin, Absolut 100 Vodka, Grand Marnier, Milagro Tequila, Sagatiba Cachaca and Sonoma Syrups. All recipes must include SENCE Rose Nectar and at least one of the other sponsoring products.
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Whether at-home drink makers or professional mixologists, everyone can enjoy making a cocktail creation for a good cause at the upcoming 2009 Ultimate Cocktail for a Cure Competition.
The competition, benefiting the breast cancer foundation Susan G. Komen for the Cure, runs through August 31, with the finals being held in Las Vegas in late September. Three divisions will encompass the competition: amateur, professional and Ultimate Bar Chef, which features a mystery ingredient and time limit for contenders.
Sponsors for the event are SENCE Rose Nectar, Hendrick's Gin, Absolut 100 Vodka, Grand Marnier, Milagro Tequila, Sagatiba Cachaca and Sonoma Syrups. All recipes must include SENCE Rose Nectar and at least one of the other sponsoring products.
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Thursday, June 18, 2009
Plan To Retire Rich
by Roger Shorr
In matters of personal finance, retirement may be the single most important issue of our times. Surprisingly, far too few individuals do any meaningful planning for their golden years. Contributing to a 401(k) or IRA is important, but you must do more to ensure a financially successful retirement. Most investors should be seeking professional assistance in the development, implementation and monitoring of their plans.
Planning is the essential first step toward building a comfortable retirement. Planning can not only help you determine the amount of risk you must take to achieve your goals, but it can also help you from taking on too much risk.
As many investors know too well from the early 2000s' bear market, excessive risk can be devastating. As a result of excessive risk taking in technology stocks and other speculative investments, many who might otherwise have retired are still working. (Read about how to do this calculation in Determining Your Post-Work Income.) Let's take a look at the important process of planning, with a special focus placed on risk.
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In matters of personal finance, retirement may be the single most important issue of our times. Surprisingly, far too few individuals do any meaningful planning for their golden years. Contributing to a 401(k) or IRA is important, but you must do more to ensure a financially successful retirement. Most investors should be seeking professional assistance in the development, implementation and monitoring of their plans.
Planning is the essential first step toward building a comfortable retirement. Planning can not only help you determine the amount of risk you must take to achieve your goals, but it can also help you from taking on too much risk.
As many investors know too well from the early 2000s' bear market, excessive risk can be devastating. As a result of excessive risk taking in technology stocks and other speculative investments, many who might otherwise have retired are still working. (Read about how to do this calculation in Determining Your Post-Work Income.) Let's take a look at the important process of planning, with a special focus placed on risk.
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Retire A Millionaire In 10 Steps
by Lisa Smith
Having a million-dollar portfolio is a retirement dream for many people. Making that dream come true requires some serious effort. While success is never a sure thing, the 10 steps outlined here will go a long way toward helping you achieve your objective.
1. Set the Goal
Nobody plans to fail, but plenty of people fail to plan. It's a cliché, but it's true. "Plan" is the leading self-help advice from athletes, business moguls and everyday people who have achieved extraordinary goals. (Read Plan To Retire Rich for additional insight into how to develop a course of action to achieve your goals.)
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Having a million-dollar portfolio is a retirement dream for many people. Making that dream come true requires some serious effort. While success is never a sure thing, the 10 steps outlined here will go a long way toward helping you achieve your objective.
1. Set the Goal
Nobody plans to fail, but plenty of people fail to plan. It's a cliché, but it's true. "Plan" is the leading self-help advice from athletes, business moguls and everyday people who have achieved extraordinary goals. (Read Plan To Retire Rich for additional insight into how to develop a course of action to achieve your goals.)
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Testing and Certifications Put the Bartender on a Path to Professionalism
By Livio Lauro
The move toward greater professionalism in bartending is everywhere today — it’s discussed on numerous blogs, written about in several new books and industry publications like this, and supported by countless training programs. Bartending skills are even judged and celebrated on reality TV shows. But what makes a bartender a professional?
Professionalism is derived from training, education and skills development, married with a commitment to excellence in execution and the ongoing expansion of knowledge among those involved in the discipline.
What really establishes a profession, however, is the creation of standards and implementation of testing to assure that individuals meet the standards. Without such standards and testing, the self-proclaimed bar-related titles commonly used today have little meaning, and bartenders will not achieve parity with their culinary counterparts in the eyes of the guest and the hospitality industry.
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The move toward greater professionalism in bartending is everywhere today — it’s discussed on numerous blogs, written about in several new books and industry publications like this, and supported by countless training programs. Bartending skills are even judged and celebrated on reality TV shows. But what makes a bartender a professional?
Professionalism is derived from training, education and skills development, married with a commitment to excellence in execution and the ongoing expansion of knowledge among those involved in the discipline.
What really establishes a profession, however, is the creation of standards and implementation of testing to assure that individuals meet the standards. Without such standards and testing, the self-proclaimed bar-related titles commonly used today have little meaning, and bartenders will not achieve parity with their culinary counterparts in the eyes of the guest and the hospitality industry.
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Wednesday, June 17, 2009
Manifesting Goals and Wealth in Partnership with the Universe
From The Millionaire Inside
Manifesting wealth requires that we create a wealth mindset and generate goals that move us towards the wealth we desire. A sure way to set yourself up for failure is to create a goal that is too large — one that is impossible to achieve given your current resources. It is much smarter to divide your responsibilities.
Instead of trying to take on all of your goals on your own, why not ask for help from the universe? The universe can be a powerful partner in helping you achieve your manifestation goals.
By calling upon the universal power you are setting yourself up for success. Your partner, the universe, knows what is right for you and what can be achieved with ease and natural ability.
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Manifesting wealth requires that we create a wealth mindset and generate goals that move us towards the wealth we desire. A sure way to set yourself up for failure is to create a goal that is too large — one that is impossible to achieve given your current resources. It is much smarter to divide your responsibilities.
Instead of trying to take on all of your goals on your own, why not ask for help from the universe? The universe can be a powerful partner in helping you achieve your manifestation goals.
By calling upon the universal power you are setting yourself up for success. Your partner, the universe, knows what is right for you and what can be achieved with ease and natural ability.
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A Secret Technique to Remove Derogatory Comments from Credit Reports
From The Millionaire Inside
As you can see from our pole results, many of you are concerned with your debt and how to get out of it. Credit card debt can destroy you financially. The major reason is the high interest rate. High interest rates are tied to the quality of your credit report.
A bad credit report is one that contains derogatory comments. Let’s talk about what “derogatory comments” are and a sly way to get them removed. A derogatory comment is an entry on your report that says you are not a good credit risk.
It is a big negative. Most people who are interested in lending to you (or are checking on your character) will look at the derogatory section of the credit report. Some of the most damaging information you will find in the derogatory section of the credit report concerns bankruptcies and foreclosures.
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As you can see from our pole results, many of you are concerned with your debt and how to get out of it. Credit card debt can destroy you financially. The major reason is the high interest rate. High interest rates are tied to the quality of your credit report.
A bad credit report is one that contains derogatory comments. Let’s talk about what “derogatory comments” are and a sly way to get them removed. A derogatory comment is an entry on your report that says you are not a good credit risk.
It is a big negative. Most people who are interested in lending to you (or are checking on your character) will look at the derogatory section of the credit report. Some of the most damaging information you will find in the derogatory section of the credit report concerns bankruptcies and foreclosures.
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Mojito Magic
By: Nightclub and Bar
The Mojito: It’s a drink that’s well-known and well-loved, and its traditional combination of white rum, sugar, lime, soda water and mint creates a refreshing concoction perfect for summer.
But now, many mixologists are revamping the Mojito, taking the tried and true method and adding their own twist – be it fresh produce, fruity flavors or even chocolate. Try the following recipes on your guests this summer, or let them inspire you to put your own signature spin on this Cuban classic.
Italian Mojito
Courtesy of Bar 888 at the InterContinental San Francisco
2 ounces Marolo Honey Infused Grappa
Fresh mint
Sugar
Fresh lime juice
Soda
Muddle mint, sugar and lime juice. Add ice and grappa, then shake and pour. Top with soda. Serve in a highball glass with a lime wedge garnish.
Click to Here Continue Reading This Post
The Mojito: It’s a drink that’s well-known and well-loved, and its traditional combination of white rum, sugar, lime, soda water and mint creates a refreshing concoction perfect for summer.
But now, many mixologists are revamping the Mojito, taking the tried and true method and adding their own twist – be it fresh produce, fruity flavors or even chocolate. Try the following recipes on your guests this summer, or let them inspire you to put your own signature spin on this Cuban classic.
Italian Mojito
Courtesy of Bar 888 at the InterContinental San Francisco
2 ounces Marolo Honey Infused Grappa
Fresh mint
Sugar
Fresh lime juice
Soda
Muddle mint, sugar and lime juice. Add ice and grappa, then shake and pour. Top with soda. Serve in a highball glass with a lime wedge garnish.
Click to Here Continue Reading This Post
Tuesday, June 16, 2009
Ten Cities With Rising Home Values
By Louis Jones
Think that no real estate market is safe? Believe it or not, there are cities where home values have held their own. Their economies are well diversified, and their population growth has been slow, keeping unemployment low and speculative building to a minimum.
Check out these ten cities that have seen an increase in median home value. Change in median home price is from the fourth quarter 2007 to the fourth quarter of 2008, which is the most recent data from Fiserv Lending Solutions, a home-price research company.
1. Midland, Texas
Metro area population: 126,408Median home price: $172,60012-month change in home value: +10.4%Home value vs. national average: -4%Top employer: Midland Independent School DistrictUnemployment: 4.3%
Midland's rock bottom unemployment rate, fueled by the local education, oil, manufacturing and health care industries, limits foreclosures in the area. As in most Texas communities, the city’s conservative lending market helped it to largely avoid the subprime-mortgage bubble's burst.
The city, located about 50 miles east of the New Mexico border, is home to Midland College and was a childhood home to President George W. Bush.
Click Here to Continue Reading This Post
Think that no real estate market is safe? Believe it or not, there are cities where home values have held their own. Their economies are well diversified, and their population growth has been slow, keeping unemployment low and speculative building to a minimum.
Check out these ten cities that have seen an increase in median home value. Change in median home price is from the fourth quarter 2007 to the fourth quarter of 2008, which is the most recent data from Fiserv Lending Solutions, a home-price research company.
1. Midland, Texas
Metro area population: 126,408Median home price: $172,60012-month change in home value: +10.4%Home value vs. national average: -4%Top employer: Midland Independent School DistrictUnemployment: 4.3%
Midland's rock bottom unemployment rate, fueled by the local education, oil, manufacturing and health care industries, limits foreclosures in the area. As in most Texas communities, the city’s conservative lending market helped it to largely avoid the subprime-mortgage bubble's burst.
The city, located about 50 miles east of the New Mexico border, is home to Midland College and was a childhood home to President George W. Bush.
Click Here to Continue Reading This Post
Best Places to Live 2009
By Luke Mullins
With the decade winding to a close, Americans have grown increasingly reluctant to gas up their moving vans. Last year, the Census Bureau's national mover rate--which represents the percentage of Americans 1 year and older who moved within the past year--hit its lowest level since 1948, when the bureau began tracking the data.
And who can blame us? In the face of a terrifying banking crisis, a historic housing crash, and a grueling recession, relocating to a new city isn't exactly on the to-do list. But despite the uncertain economy, the nation's diverse topography presents an enviable menu of great places to find work, retire, or just change your scene.
In selecting our Best Places to Live for 2009, U.S. News took a thrift-conscious approach: We looked for affordable communities that have strong economies and plenty of fun things to do. The cities we selected are as distinct as America itself--ranging from a quaint suburb to a live-music mecca.
Click Here to Continue Reading This Post
With the decade winding to a close, Americans have grown increasingly reluctant to gas up their moving vans. Last year, the Census Bureau's national mover rate--which represents the percentage of Americans 1 year and older who moved within the past year--hit its lowest level since 1948, when the bureau began tracking the data.
And who can blame us? In the face of a terrifying banking crisis, a historic housing crash, and a grueling recession, relocating to a new city isn't exactly on the to-do list. But despite the uncertain economy, the nation's diverse topography presents an enviable menu of great places to find work, retire, or just change your scene.
In selecting our Best Places to Live for 2009, U.S. News took a thrift-conscious approach: We looked for affordable communities that have strong economies and plenty of fun things to do. The cities we selected are as distinct as America itself--ranging from a quaint suburb to a live-music mecca.
Click Here to Continue Reading This Post
Why Bad Things Happen To Good Bars
From The American Mixologist
Doing something because “it’s the way it has been done in the past,” in reality, is to do something because it is familiar and may only serve to perpetuate a costly, inefficient or otherwise unfounded practice.
Familiarity acts like a cataract on perspective, impairing the decision-making process. Engaged with day to day concerns, most of us spend untold hours in our operation seeing things as they are and not as they could or should be, growing to accept the norm as the final objective. In most instances, that type of thinking process proves costly, especially behind the bar.
Fresh perspective is a consultant’s stock and trade. They observe, scrutinize and question your business unfettered by the obscuring effect of familiarity. It’s one of the more valuable attributes they bring to the job. That mind set is attainable by challenging the concept of “business as usual.”
Click to Here Continue Reading This Post
Doing something because “it’s the way it has been done in the past,” in reality, is to do something because it is familiar and may only serve to perpetuate a costly, inefficient or otherwise unfounded practice.
Familiarity acts like a cataract on perspective, impairing the decision-making process. Engaged with day to day concerns, most of us spend untold hours in our operation seeing things as they are and not as they could or should be, growing to accept the norm as the final objective. In most instances, that type of thinking process proves costly, especially behind the bar.
Fresh perspective is a consultant’s stock and trade. They observe, scrutinize and question your business unfettered by the obscuring effect of familiarity. It’s one of the more valuable attributes they bring to the job. That mind set is attainable by challenging the concept of “business as usual.”
Click to Here Continue Reading This Post
Monday, June 15, 2009
3 Simple Techniques to Discover What You Really Want in Life
From The Millionaire Inside
Getting clear about what you really want is important not only for goal setting but it is critical in putting in place the law of attraction. Knowing what you really want seems quite simple. However, whenever I ask someone what he or she really wants the usual response is a blank stare.
Most people are unable to easily say what they really want. Are you one of them?
Most people are caught up in their day-to-day existence. Waking up to the alarm, getting the kids off to school, getting to work on time, and dealing with the workplace issues that seem to be never ending.
No wonder we feel disconnected from our real selves. We do not take the time to think through what we really want in our lives. Let’s take a second now and think about you. Let’s focus on what you really want. Don’t worry, it won’t take long — it’s just a lifelong process. Let’s get started.
Click Here to Continue Reading This Post
Getting clear about what you really want is important not only for goal setting but it is critical in putting in place the law of attraction. Knowing what you really want seems quite simple. However, whenever I ask someone what he or she really wants the usual response is a blank stare.
Most people are unable to easily say what they really want. Are you one of them?
Most people are caught up in their day-to-day existence. Waking up to the alarm, getting the kids off to school, getting to work on time, and dealing with the workplace issues that seem to be never ending.
No wonder we feel disconnected from our real selves. We do not take the time to think through what we really want in our lives. Let’s take a second now and think about you. Let’s focus on what you really want. Don’t worry, it won’t take long — it’s just a lifelong process. Let’s get started.
Click Here to Continue Reading This Post
The Five Reasons Why You Are Not Fulfilling Your Potential
From Mercola.com
Very few people can claim that they have achieved all that they are capable of. Do you have a nagging feeling that you could do much, much more with your life and career?
What is that is stopping you right now from making a much greater contribution to society? What is that is preventing you from fulfilling your potential?
1. You do not have enough belief in yourself.
All successful people have enormous self-belief. This does not mean that they are arrogant, narcissistic or complacent -- on the contrary, they are self critical and push themselves hard because they know that they can achieve more. What is it that is special about you?
Click Here to Continue Reading This Post
Very few people can claim that they have achieved all that they are capable of. Do you have a nagging feeling that you could do much, much more with your life and career?
What is that is stopping you right now from making a much greater contribution to society? What is that is preventing you from fulfilling your potential?
1. You do not have enough belief in yourself.
All successful people have enormous self-belief. This does not mean that they are arrogant, narcissistic or complacent -- on the contrary, they are self critical and push themselves hard because they know that they can achieve more. What is it that is special about you?
Click Here to Continue Reading This Post
Summer Sippers
By: Nightclub and Bar
It’s the beginning of June, which means warm weather is upon us. Hopefully, this also means people are flocking to your bar for a chance to enjoy the summery weather with a summery cocktail.
To capitalize on the excitement that people have from being out on the town sans winter coats, try some of the following drink recipes as specials at your bar, courtesy of the mixologists at Brown-Forman.
Who knows, with any luck, they could become staples on your menu as people seek out summertime all year long.
Open House Punch
750 ml Southern Comfort (1 bottle)
6 ounces lemon juice
6-ounce can frozen lemonade
6-ounce can frozen orange juice
3 liters lemon-lime soda
Mix Southern Comfort, lemon juice, lemonade and orange juice. Add lemon-lime soda and stir. Pour into a pitcher or punch bowl with orange and lemon slices. Makes 16 8-ounce servings.
Click to Here Continue Reading This Post
It’s the beginning of June, which means warm weather is upon us. Hopefully, this also means people are flocking to your bar for a chance to enjoy the summery weather with a summery cocktail.
To capitalize on the excitement that people have from being out on the town sans winter coats, try some of the following drink recipes as specials at your bar, courtesy of the mixologists at Brown-Forman.
Who knows, with any luck, they could become staples on your menu as people seek out summertime all year long.
Open House Punch
750 ml Southern Comfort (1 bottle)
6 ounces lemon juice
6-ounce can frozen lemonade
6-ounce can frozen orange juice
3 liters lemon-lime soda
Mix Southern Comfort, lemon juice, lemonade and orange juice. Add lemon-lime soda and stir. Pour into a pitcher or punch bowl with orange and lemon slices. Makes 16 8-ounce servings.
Click to Here Continue Reading This Post
Friday, June 12, 2009
A Simple System for Realistic Goal Setting
From The Millionaire Inside
We’ve all heard that setting goals is an essential ingredient in personal and business success. Goal setting is deceptive in that it appears to be simple — you set an objective (something that you want to accomplish) and set a time for its completion.
You rough out a plan to achieve the goal and periodically review your progress to determine if and when the goal will be achieved. The reason I mention goal setting can be deceptive in its apparent ease is because the idea of mapping out a plan to achieve a goal is rarely as simple as it sounds. First off, most of the time we fail to establish a realistic goal.
Also, we fall into the habit of setting a goal with only a vague idea of when it will be accomplished. We are always excited to make a decision to reach a goal however most often we lose sight or motivation and failure is the result.
Click Here to Continue Reading This Post
We’ve all heard that setting goals is an essential ingredient in personal and business success. Goal setting is deceptive in that it appears to be simple — you set an objective (something that you want to accomplish) and set a time for its completion.
You rough out a plan to achieve the goal and periodically review your progress to determine if and when the goal will be achieved. The reason I mention goal setting can be deceptive in its apparent ease is because the idea of mapping out a plan to achieve a goal is rarely as simple as it sounds. First off, most of the time we fail to establish a realistic goal.
Also, we fall into the habit of setting a goal with only a vague idea of when it will be accomplished. We are always excited to make a decision to reach a goal however most often we lose sight or motivation and failure is the result.
Click Here to Continue Reading This Post
Long-Term Investing Doesn't Work
By Tom Gardner
Today, everywhere I turn in the investment world, someone is asking about the merits of long-term investing. Does it work? Did it ever? Looking over the wreckage of one-time blue chips AIG (NYSE: AIG), Fannie Mae (NYSE: FNM), General Motors, et al, these are natural questions.
For every Danaher (NYSE: DHR), up around 3,000% over the past 20 years, there are plenty of disappointments -- such as Eastman Kodak (NYSE: EK), down nearly 90% over that same time frame.
So which is it? If you buy and hold for 25 years, are you a champ or a chump? If you stick with a stock for five years, are you a star or a sucker?
What do you think?
Click Here to Continue Reading This Post
Today, everywhere I turn in the investment world, someone is asking about the merits of long-term investing. Does it work? Did it ever? Looking over the wreckage of one-time blue chips AIG (NYSE: AIG), Fannie Mae (NYSE: FNM), General Motors, et al, these are natural questions.
For every Danaher (NYSE: DHR), up around 3,000% over the past 20 years, there are plenty of disappointments -- such as Eastman Kodak (NYSE: EK), down nearly 90% over that same time frame.
So which is it? If you buy and hold for 25 years, are you a champ or a chump? If you stick with a stock for five years, are you a star or a sucker?
What do you think?
Click Here to Continue Reading This Post
Reduce Costs & Preserve Quality
By: Tim Johnson
OK, here we go again. There are only two ways to make money: increase your sales by charging more, selling more, increasing guest count, etc., or reduce your costs by cutting portion size, reducing raw material costs, lowering your labor, etc. If anyone has figured out a third way, please, patent it and retire.
But assuming you haven’t, let’s address the latter: reducing your costs. This is the least complicated way for you to see results quickly.
It also is the potential “slippery slope” that will cut into your existing sales and customer base if you go about it recklessly and without regard to your product’s quality and your guest’s sense of value. So you need to proceed with caution when taking on the task of cutting costs.
Click to Here Continue Reading This Post
OK, here we go again. There are only two ways to make money: increase your sales by charging more, selling more, increasing guest count, etc., or reduce your costs by cutting portion size, reducing raw material costs, lowering your labor, etc. If anyone has figured out a third way, please, patent it and retire.
But assuming you haven’t, let’s address the latter: reducing your costs. This is the least complicated way for you to see results quickly.
It also is the potential “slippery slope” that will cut into your existing sales and customer base if you go about it recklessly and without regard to your product’s quality and your guest’s sense of value. So you need to proceed with caution when taking on the task of cutting costs.
Click to Here Continue Reading This Post
Tuesday, June 09, 2009
Bartending Job Without Experience
By Ray Sherman
Getting hired as a bartender without experience can seem difficult but if you really want to learn the position you can find a way. The first thing you must realize is that experience is absolutely necessary in a busy place.
That is why most of the help wanted ads state experience necessary. There are good schools and courses available, and they do help a lot, but even if you scored 100% on your tests it still cannot beat hands on experience for this job.
In order to get hired as a bartender without experience you will likely have to start at a very slow place that consists mostly of pouring beer and mixing very basic drinks. Most neighborhoods have their share of these taverns where the bar has only 8-10stools and maybe a few tables.
This may not be your most desirable place of employment but having even a few months on your resume at a place like this will give you a great advantage when applying at an establishment you truly desire to work for.
Click Here to Continue Reading This Post
Getting hired as a bartender without experience can seem difficult but if you really want to learn the position you can find a way. The first thing you must realize is that experience is absolutely necessary in a busy place.
That is why most of the help wanted ads state experience necessary. There are good schools and courses available, and they do help a lot, but even if you scored 100% on your tests it still cannot beat hands on experience for this job.
In order to get hired as a bartender without experience you will likely have to start at a very slow place that consists mostly of pouring beer and mixing very basic drinks. Most neighborhoods have their share of these taverns where the bar has only 8-10stools and maybe a few tables.
This may not be your most desirable place of employment but having even a few months on your resume at a place like this will give you a great advantage when applying at an establishment you truly desire to work for.
Click Here to Continue Reading This Post
Monday, June 08, 2009
The New Class Of Cocktail-Friendly Spirits
From The American Mixologist
One of the underlying precepts of today’s cocktail culture is the better the liquor, the better the drink.
It’s as irrefutable as gravity. The reality, however, is that some spirits seem to prefer a more solitary existence, swirling alone in a snifter, or languishing in a glass of ice. Others fortunately are adept at mingling and get along well with others.
To a man these charismatic and character laden spirits are capable of propelling all cocktails that cross their path towards greatness. Like the spark of genius, some have it most don’t.
So if sipping a slice of the good life is in your near future, consider expanding your cocktail horizons with a few new, engaging spirits. Your satisfaction is guaranteed and insured by Lloyd’s of London.
Click Here to Continue Reading This Post
One of the underlying precepts of today’s cocktail culture is the better the liquor, the better the drink.
It’s as irrefutable as gravity. The reality, however, is that some spirits seem to prefer a more solitary existence, swirling alone in a snifter, or languishing in a glass of ice. Others fortunately are adept at mingling and get along well with others.
To a man these charismatic and character laden spirits are capable of propelling all cocktails that cross their path towards greatness. Like the spark of genius, some have it most don’t.
So if sipping a slice of the good life is in your near future, consider expanding your cocktail horizons with a few new, engaging spirits. Your satisfaction is guaranteed and insured by Lloyd’s of London.
Click Here to Continue Reading This Post
Sunday, June 07, 2009
7 Ways Your Money Will Never Be the Same
By Jeffrey R. Kosnett
There's a whiff of economic recovery in the air, and investors have been feeling frisky as of late. Just another bout of irrational exuberance, you ask, to be followed by another bust?
One thing that's certain, however, is that the Great Recession, the credit crisis and the past year's meltdown in financial markets will change how you handle your finances. In many ways, your money will never be the same.
1. Investments: Less risk
In the old days -- before 2008, that is -- an aggressive portfolio had 80% or more of its assets in stocks.
No matter how well you're doing now or how well you or others think stocks will do in the years ahead, investors are so shell-shocked from their bear-market losses that it will be a long time before they will be confident enough to justify that high a proportion of stocks within their total portfolio.
Click Here to Continue Reading This Post
There's a whiff of economic recovery in the air, and investors have been feeling frisky as of late. Just another bout of irrational exuberance, you ask, to be followed by another bust?
One thing that's certain, however, is that the Great Recession, the credit crisis and the past year's meltdown in financial markets will change how you handle your finances. In many ways, your money will never be the same.
1. Investments: Less risk
In the old days -- before 2008, that is -- an aggressive portfolio had 80% or more of its assets in stocks.
No matter how well you're doing now or how well you or others think stocks will do in the years ahead, investors are so shell-shocked from their bear-market losses that it will be a long time before they will be confident enough to justify that high a proportion of stocks within their total portfolio.
Click Here to Continue Reading This Post
4 Home Buying Sites Flying Under the Radar
by Lisa Scherzer
Now all that information is at consumers’ fingertips. Home buyers with just a little tech savvy can go online with Zillow.com or Trulia.com to scout out houses from their PCs or even their mobile phones.
Indeed, most prospective buyers do their initial shopping online: Nearly nine out of 10 recent buyers use the web in their home search, according to the National Association of Realtors (NAR).
And on the sales side, more real estate agents are utilizing social media sites like Facebook, Twitter and their own blogs to market properties, the NAR says. As a result, more and more digital services are popping up, promising to help consumers find their dream homes.
Click Here to Continue Reading This Post
Now all that information is at consumers’ fingertips. Home buyers with just a little tech savvy can go online with Zillow.com or Trulia.com to scout out houses from their PCs or even their mobile phones.
Indeed, most prospective buyers do their initial shopping online: Nearly nine out of 10 recent buyers use the web in their home search, according to the National Association of Realtors (NAR).
And on the sales side, more real estate agents are utilizing social media sites like Facebook, Twitter and their own blogs to market properties, the NAR says. As a result, more and more digital services are popping up, promising to help consumers find their dream homes.
Click Here to Continue Reading This Post
The Seven Secrets to Controlling Food & Beverage Costs
From ManageYourBar.com
Managing a successful business takes more than a welcoming smile! All your hard work could be in vain without a proper cost control system in place. So here are the seven golden rules of cost control that we have found to be used by the most successful bars and restaurants:
1. Keep it Simple
Because the Hospitality Industry relies as much on customer service as effective cost control (neither will exist without the other), any cost control system has to be simple for all involved.
Over-complicating systems will keep your staff from the guests as well as allowing staff the opportunity to claim the system is too much work and difficult to complete, so keep it simple and practical.
2. Measure like against like
What I mean by this is that in order to set goals and targets and compare one period against another, both periods need to be the same. There is no point measuring a four week period that had three busy calendar weekends against a four week period that had four busy calendar weekends.
By keeping periods the same (ie Monday to Sunday every week) you can start to identify trends and plan better for future periods.
3. Insist on speedy reporting
If it takes you too long to get the vital information you need from your business, then the chance are that any cost losses incurred during this period have continued into the subsequent period too, before you have had a chance to address them.
Identify your KPIs (Key Performance Indicators) for each revenue department and be able to exact these figures as needed to give you a snapshot of how well you are doing and give you piece of mind until you get the report proper.
4. Don't Stop Controlling
If you stop controlling or see it as a one-day activity a couple of times a year, then you have missed the point. Control is a continuous action and would be better referred to as a "Mentality" than as an action.
This goes back to a speedy reporting system and taking the time each day to review the KPIs. By tweaking smaller parts of the operation on a daily basis, you will achieve greater and smoother results as oppose to making large-scale changes periodically which may meet with opposition from less-like minded staff.
5. Measure it to Manage it
When it comes to Purchasing and Receiving, think like a bank clerk who has no allowance for cash handling errors. If he makes a mistake, he pays for it. Why operators allow any less of a mentality at the receiving door is beyond me but adhere to this principle and you won't go far wrong: "If it's ordered by weight, weigh it, If it's ordered by count, count it".
6. Know what your Costs SHOULD be
I have lost count of the number of operators who when asked how things were going, replied by saying that turnover was up which they were happy with, yet further questions revealed that they agreed the costs associated with the increased turnover were not proportionate and the expected profits were not forthcoming.
Why? Because all of these businesses had one thing in common, none of them knew what it SHOULD cost to generate their turnover levels. Few operators had costed their menus down to the sprig of parsley and fewer could tell me the price of a loaf of bread!
Surprised? Don't fall in to the same trap. Know what your costs should be irrespective of turnover, that way; you will be less likely to be faced with unwelcome surprises.
7. Know the Relationships of Costs
One principle which was drilled into me when I was a trainee manager was that costs are all relative to one another and no single cost can be examined independently of the other related costs.
In other words, it's no good having a fantastically low cost base in your beverage if it's costed you double the normal labor costs to achieve that. Learn to relate the relevant costs with each other and review these costs together.
By investing the time and effort into establishing a watertight but manageable control system, you will be laying the foundations for a well managed and successful business.
I often say to dubious operators that if they think it's expensive to setup and implement such a control system, just think what it will cost you if you don't!
You have been warned.....
Managing a successful business takes more than a welcoming smile! All your hard work could be in vain without a proper cost control system in place. So here are the seven golden rules of cost control that we have found to be used by the most successful bars and restaurants:
1. Keep it Simple
Because the Hospitality Industry relies as much on customer service as effective cost control (neither will exist without the other), any cost control system has to be simple for all involved.
Over-complicating systems will keep your staff from the guests as well as allowing staff the opportunity to claim the system is too much work and difficult to complete, so keep it simple and practical.
2. Measure like against like
What I mean by this is that in order to set goals and targets and compare one period against another, both periods need to be the same. There is no point measuring a four week period that had three busy calendar weekends against a four week period that had four busy calendar weekends.
By keeping periods the same (ie Monday to Sunday every week) you can start to identify trends and plan better for future periods.
3. Insist on speedy reporting
If it takes you too long to get the vital information you need from your business, then the chance are that any cost losses incurred during this period have continued into the subsequent period too, before you have had a chance to address them.
Identify your KPIs (Key Performance Indicators) for each revenue department and be able to exact these figures as needed to give you a snapshot of how well you are doing and give you piece of mind until you get the report proper.
4. Don't Stop Controlling
If you stop controlling or see it as a one-day activity a couple of times a year, then you have missed the point. Control is a continuous action and would be better referred to as a "Mentality" than as an action.
This goes back to a speedy reporting system and taking the time each day to review the KPIs. By tweaking smaller parts of the operation on a daily basis, you will achieve greater and smoother results as oppose to making large-scale changes periodically which may meet with opposition from less-like minded staff.
5. Measure it to Manage it
When it comes to Purchasing and Receiving, think like a bank clerk who has no allowance for cash handling errors. If he makes a mistake, he pays for it. Why operators allow any less of a mentality at the receiving door is beyond me but adhere to this principle and you won't go far wrong: "If it's ordered by weight, weigh it, If it's ordered by count, count it".
6. Know what your Costs SHOULD be
I have lost count of the number of operators who when asked how things were going, replied by saying that turnover was up which they were happy with, yet further questions revealed that they agreed the costs associated with the increased turnover were not proportionate and the expected profits were not forthcoming.
Why? Because all of these businesses had one thing in common, none of them knew what it SHOULD cost to generate their turnover levels. Few operators had costed their menus down to the sprig of parsley and fewer could tell me the price of a loaf of bread!
Surprised? Don't fall in to the same trap. Know what your costs should be irrespective of turnover, that way; you will be less likely to be faced with unwelcome surprises.
7. Know the Relationships of Costs
One principle which was drilled into me when I was a trainee manager was that costs are all relative to one another and no single cost can be examined independently of the other related costs.
In other words, it's no good having a fantastically low cost base in your beverage if it's costed you double the normal labor costs to achieve that. Learn to relate the relevant costs with each other and review these costs together.
By investing the time and effort into establishing a watertight but manageable control system, you will be laying the foundations for a well managed and successful business.
I often say to dubious operators that if they think it's expensive to setup and implement such a control system, just think what it will cost you if you don't!
You have been warned.....
Saturday, June 06, 2009
Insider Tips About The Bartending School
by Eudora Stridewell
The bartending icons that most people associate with barkeeps are usually portrayed as either exciting and romantic or boring and stupid; examples range from Tom Cruise in Cocktail to Moe in The Simpsons.
Most people would be surprised to find that instead of running the gamut at the far ends of these two extremes, bartending is really more of a middle of the road career.
If you enjoy interacting with people, then you might be interested in attending a bartending school to learn about how to do it right. Do your homework and check into one of the best bartending schools available, based on tuition and skills taught.
Have you been known to mix a drink or two after hours for friends and family?
Click Here to Continue Reading This Post
The bartending icons that most people associate with barkeeps are usually portrayed as either exciting and romantic or boring and stupid; examples range from Tom Cruise in Cocktail to Moe in The Simpsons.
Most people would be surprised to find that instead of running the gamut at the far ends of these two extremes, bartending is really more of a middle of the road career.
If you enjoy interacting with people, then you might be interested in attending a bartending school to learn about how to do it right. Do your homework and check into one of the best bartending schools available, based on tuition and skills taught.
Have you been known to mix a drink or two after hours for friends and family?
Click Here to Continue Reading This Post
Friday, June 05, 2009
How to End Laundry Chaos
From Mercola.com
Laundry can be one of the most stubborn forms of clutter.
Please note that these are NOT my suggestions but from another website and included as an entertainment article.
So here are ways to keep your laundry chaos to a minimum:
Laundry can be one of the most stubborn forms of clutter.
Please note that these are NOT my suggestions but from another website and included as an entertainment article.
So here are ways to keep your laundry chaos to a minimum:
- First and foremost, establish a laundry routine. You can’t let laundry pile up or it instantly becomes chaotic.
- Exclusively use small, sturdy laundry baskets (20 gal. or smaller). Keep one in the bathroom, one in the bedroom(s), and one in the laundry room.
Have fewer clothes. The fewer clothes you have, the fewer clothes you have to wash.
Tougher times for the greenback
From LOM Global Perspectives
The US dollar enjoyed a period of revival during the worst of the global recession. As the fires of the financial crisis spread, credit was being extinguished even as more dollars were being printed, relieving the system of an excess supply. It also helped that the United States was considered to possess a safe-haven status. Now that the world economy has stabilised and is set for recovery, the greenback is facing renewed difficulties.
Last week, the credit rating agency Standard & Poor’s committed a faux pas. It lowered its outlook, regarding the AAA rating on UK debt, to “negative” from “stable”. In issuing their outlook, they didn’t stop to think that this would draw attention to the biggest debtor of all, the United States.
Traders, already nervous about the precariousness of America’s financial position and the trends in monetary and fiscal policy, were quick to draw conclusions. The dollar was hammered and government bonds fell. Stirling, which had initially lost ground against the greenback, reversed course and moved higher. Other major currencies also made gains.
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The US dollar enjoyed a period of revival during the worst of the global recession. As the fires of the financial crisis spread, credit was being extinguished even as more dollars were being printed, relieving the system of an excess supply. It also helped that the United States was considered to possess a safe-haven status. Now that the world economy has stabilised and is set for recovery, the greenback is facing renewed difficulties.
Last week, the credit rating agency Standard & Poor’s committed a faux pas. It lowered its outlook, regarding the AAA rating on UK debt, to “negative” from “stable”. In issuing their outlook, they didn’t stop to think that this would draw attention to the biggest debtor of all, the United States.
Traders, already nervous about the precariousness of America’s financial position and the trends in monetary and fiscal policy, were quick to draw conclusions. The dollar was hammered and government bonds fell. Stirling, which had initially lost ground against the greenback, reversed course and moved higher. Other major currencies also made gains.
Click Here to Continue Reading This Post
Beverage Artistry by Perfect Purée & Other Products
By: Nightclub and Bar
The Perfect Purée of Napa Valley introduces its new product line, Beverage Artistry. The products, which are packed frozen in 32-fluid ounce gable top units, offer establishments the opportunity to easily create signature beverages and a variety of drinks.
Beverage Artistry consists of three premium blends and five classic blends: El Corazon, a mix of passion fruit, blood orange and pomegranate concentrates; Yuzu Luxe Sour, a blend inspired by the Asian fruit Yuzu; Passion Colada, which adds passion fruit to pineapple and coconut; Mojito; Classic Sweet & Sour; Rum Runner; Red Sangria; and White Sangria.For more information, visit www.perfectpuree.com.
Click Here to Continue Reading This Post
The Perfect Purée of Napa Valley introduces its new product line, Beverage Artistry. The products, which are packed frozen in 32-fluid ounce gable top units, offer establishments the opportunity to easily create signature beverages and a variety of drinks.
Beverage Artistry consists of three premium blends and five classic blends: El Corazon, a mix of passion fruit, blood orange and pomegranate concentrates; Yuzu Luxe Sour, a blend inspired by the Asian fruit Yuzu; Passion Colada, which adds passion fruit to pineapple and coconut; Mojito; Classic Sweet & Sour; Rum Runner; Red Sangria; and White Sangria.For more information, visit www.perfectpuree.com.
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Thursday, June 04, 2009
7 Industries That Are Still Making Money in a Recession
by Parija B. Kavilanz
With shopping no longer their favorite pastime, Americans appear to be spending their money in other ways, such as acquiring new skills, getting help with their finances and visiting the dentist.
This change in spending behavior is helping trade schools, accounting firms and even your neighborhood dentist survive the economic downturn better than other businesses, according to an industry report.
"Our data show that companies selling non-discretionary products and services, things that people really need, are doing pretty well," said Brian Hamilton, CEO of Sageworks Inc., a Raleigh, N.C.-based company that analyzes weekly financial data such as sales, balance sheets and income statements for privately held companies across 1,600 industries.
Click Here to Continue Reading This Post
With shopping no longer their favorite pastime, Americans appear to be spending their money in other ways, such as acquiring new skills, getting help with their finances and visiting the dentist.
This change in spending behavior is helping trade schools, accounting firms and even your neighborhood dentist survive the economic downturn better than other businesses, according to an industry report.
"Our data show that companies selling non-discretionary products and services, things that people really need, are doing pretty well," said Brian Hamilton, CEO of Sageworks Inc., a Raleigh, N.C.-based company that analyzes weekly financial data such as sales, balance sheets and income statements for privately held companies across 1,600 industries.
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Tasteful Trend
By: Jenny Adams
A well-crafted cocktail is meant to be a journey. Through sensory experience, it is designed to take one out of the mundane and away from daily stresses. But creating this this inner voyage can be difficult when it’s five deep at the bar and people are screaming for Mojitos. Enter flavored spirits.
Previously they were all about time elimination, but not anymore. This category has morphed from being a super sweet, syrup-based one aimed at saving time and punching up flavor to one of fresh ingredients and painstaking processes in distillation, bringing both balance and authenticity to cocktails.
“When you heard the words ‘flavored spirit’ years ago, you immediately thought of something a little gauche,” laughs Somer Perez, president of Couture Cocktail Concepts in New York City. “Flavored spirits were somewhat cheesy and a bit of a shortcut in drink design. I think now you are seeing a more all-natural, organic approach with the essences of fresh, seasonal ingredients.”
Click Here to Continue Reading This Post
A well-crafted cocktail is meant to be a journey. Through sensory experience, it is designed to take one out of the mundane and away from daily stresses. But creating this this inner voyage can be difficult when it’s five deep at the bar and people are screaming for Mojitos. Enter flavored spirits.
Previously they were all about time elimination, but not anymore. This category has morphed from being a super sweet, syrup-based one aimed at saving time and punching up flavor to one of fresh ingredients and painstaking processes in distillation, bringing both balance and authenticity to cocktails.
“When you heard the words ‘flavored spirit’ years ago, you immediately thought of something a little gauche,” laughs Somer Perez, president of Couture Cocktail Concepts in New York City. “Flavored spirits were somewhat cheesy and a bit of a shortcut in drink design. I think now you are seeing a more all-natural, organic approach with the essences of fresh, seasonal ingredients.”
Click Here to Continue Reading This Post
Wednesday, June 03, 2009
Investing 101: Introduction
Have you ever wondered how the rich got their wealth and then kept it growing? Do you dream of retiring early (or of being able to retire at all)? Do you know that you should invest, but don't know where to start?
If you answered "yes" to any of the above questions, you've come to the right place. In this tutorial we will cover the practice of investing from the ground up. The world of finance can be extremely intimidating, but we firmly believe that the stock market and greater financial world won't seem so complicated once you learn some of the lingo and major concepts.
We should emphasize, however, that investing isn't a get-rich-quick scheme. Taking control of your personal finances will take work, and, yes, there will be a learning curve. But the rewards will far outweigh the required effort.
Contrary to popular belief, you don't have to allow banks, bosses or investment professionals to push your money in directions that you don't understand. After all, no one is in a better position than you are to know what is best for you and your money.
Click Here to Continue Reading This Post
If you answered "yes" to any of the above questions, you've come to the right place. In this tutorial we will cover the practice of investing from the ground up. The world of finance can be extremely intimidating, but we firmly believe that the stock market and greater financial world won't seem so complicated once you learn some of the lingo and major concepts.
We should emphasize, however, that investing isn't a get-rich-quick scheme. Taking control of your personal finances will take work, and, yes, there will be a learning curve. But the rewards will far outweigh the required effort.
Contrary to popular belief, you don't have to allow banks, bosses or investment professionals to push your money in directions that you don't understand. After all, no one is in a better position than you are to know what is best for you and your money.
Click Here to Continue Reading This Post
Why Warren Buffett could be back on the money
By David Stevenson
Has Warren Buffett lost the plot?
The Sage of Omaha’s recent track record hasn’t been too hot. And he’s had a fair amount of flak for getting some things wrong.
Now, reports Bloomberg, his Berkshire Hathaway holding company is cutting back on buying shares, after the firm’s cash levels have fallen to their lowest in more than five years.
Will this prove to be another mis-step? Or is Buffett back on form?
Click Here to Continue Reading This Post
Has Warren Buffett lost the plot?
The Sage of Omaha’s recent track record hasn’t been too hot. And he’s had a fair amount of flak for getting some things wrong.
Now, reports Bloomberg, his Berkshire Hathaway holding company is cutting back on buying shares, after the firm’s cash levels have fallen to their lowest in more than five years.
Will this prove to be another mis-step? Or is Buffett back on form?
Click Here to Continue Reading This Post
OPERATIONS | Harvard Studies Marquee Nightclub
By: Nightclub and Bar
In April, Harvard Business School released the first case study conducted on the business of nightlife with a 22-page document researching the business success of New York City’s ultra-popular Marquee Nightclub, which ranked #32 on the 2009 Nightclub & Bar Top 100.
Several students at the post-graduate university took an interest in the concept and pitched it to their professor, who agreed it was an absolutely relevant topic.
The students met with the club’s partners: Jason Strauss and Noah Tepperberg, who opened up their business to the students, even divulging information that the nightlife industry usually tries to protect as if it were classified government documents.
Click Here to Continue Reading This Post
In April, Harvard Business School released the first case study conducted on the business of nightlife with a 22-page document researching the business success of New York City’s ultra-popular Marquee Nightclub, which ranked #32 on the 2009 Nightclub & Bar Top 100.
Several students at the post-graduate university took an interest in the concept and pitched it to their professor, who agreed it was an absolutely relevant topic.
The students met with the club’s partners: Jason Strauss and Noah Tepperberg, who opened up their business to the students, even divulging information that the nightlife industry usually tries to protect as if it were classified government documents.
Click Here to Continue Reading This Post
Tuesday, June 02, 2009
Learn Lessons From Google About Self-Image
From Mercola.com
Self-perspective is one of the hardest things to understand. There’s nothing more dangerous or helpful to your individual success than high self-image. Love or hate them, Google is an excellent example of masterful self-image.
1. You don’t have to change to fit in. Google knew what they were: a great search engine. Yet instead of tinkering with the latest thing, they got big by continuing to improve their bread-winning product, Google search.
2. Become insanely successful at one thing, and use your confidence to branch out. Once they were the best at what they did, they branched into many other arenas like contextual advertising, feed readers, as well as every other aspect of digital life.
Click Here to Continue Reading This Post
Self-perspective is one of the hardest things to understand. There’s nothing more dangerous or helpful to your individual success than high self-image. Love or hate them, Google is an excellent example of masterful self-image.
1. You don’t have to change to fit in. Google knew what they were: a great search engine. Yet instead of tinkering with the latest thing, they got big by continuing to improve their bread-winning product, Google search.
2. Become insanely successful at one thing, and use your confidence to branch out. Once they were the best at what they did, they branched into many other arenas like contextual advertising, feed readers, as well as every other aspect of digital life.
Click Here to Continue Reading This Post
INDUSTRY NEWS | Readings to Keep You at the Ready
Article By: Nightclub and Bar
Attracting and retaining business at your property is important any time, but especially in today’s economy. Here’s a look at some new releases that can help you keep costs down, identify up-and-coming trends and get creative when it comes to your cocktails:-
Practical Food & Beverage Cost Control By Clement Ojugo
First published in 1999, Practical Food & Beverage Cost Control addresses common financial-management problems and gives guidelines for F&B success. The new edition contains practical, step-by-step suggestions for employing cost-control concepts effectively.
Oft-cited problem areas the book aims to improve include high operating expenses, inaccurately documented and costed menu items, excessive inventory, inaccurate financial reporting and inadequate cash flow.
To assist with controlling costs, the book includes information and tips on menu development and budgeting, purchasing, sustainable and organic trends and their associated costs and the advantages and disadvantages of cost-control techniques.
For more information about Practical Food & Beverage Cost Control, visit: www.hospitality-tourism.delmar.com.
Click Here to Continue Reading This Post
Attracting and retaining business at your property is important any time, but especially in today’s economy. Here’s a look at some new releases that can help you keep costs down, identify up-and-coming trends and get creative when it comes to your cocktails:-
Practical Food & Beverage Cost Control By Clement Ojugo
First published in 1999, Practical Food & Beverage Cost Control addresses common financial-management problems and gives guidelines for F&B success. The new edition contains practical, step-by-step suggestions for employing cost-control concepts effectively.
Oft-cited problem areas the book aims to improve include high operating expenses, inaccurately documented and costed menu items, excessive inventory, inaccurate financial reporting and inadequate cash flow.
To assist with controlling costs, the book includes information and tips on menu development and budgeting, purchasing, sustainable and organic trends and their associated costs and the advantages and disadvantages of cost-control techniques.
For more information about Practical Food & Beverage Cost Control, visit: www.hospitality-tourism.delmar.com.
Click Here to Continue Reading This Post
Monday, June 01, 2009
How to Rewire Your Brain
From Mercola.com
Neuroscientist Michael Merzenich looks at one of the secrets of your brain's incredible power: its ability to actively re-wire itself. He's researching ways to harness your brain's plasticity to enhance your skills and recover lost function.
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Neuroscientist Michael Merzenich looks at one of the secrets of your brain's incredible power: its ability to actively re-wire itself. He's researching ways to harness your brain's plasticity to enhance your skills and recover lost function.
Click Here to Continue Watching This Post
WINE | Malbec on the Rise
By: Kelly Magyarics
South American wines have grown increasingly fashionable in the last few years, and no varietal has taken greater hold than Argentina’s signature grape, Malbec, a spicy and robust varietal traditionally used in Bordeaux blends.
According to Nielsen scan data, in the four weeks leading up to March 7, 2009, wines from Argentina, like Malbec, grew 52 percent in dollar value over the same period last year. Additionally, in 2008, Argentina posted the most growth in dollar sales in the U.S. – perhaps in part due to the growth of Malbec.
Andrew Stover, sommelier and director of wine marketing at Washington, D.C.’s OYA Restaurant & Lounge and SEI Restaurant, reports that guests still can’t get enough of this grape. He believes diners gravitate towards Argentinean Malbec because of its similarity to Merlot or Cabernet, although he considers Malbec to be more food-friendly.
Click Here to Continue Reading This Post
South American wines have grown increasingly fashionable in the last few years, and no varietal has taken greater hold than Argentina’s signature grape, Malbec, a spicy and robust varietal traditionally used in Bordeaux blends.
According to Nielsen scan data, in the four weeks leading up to March 7, 2009, wines from Argentina, like Malbec, grew 52 percent in dollar value over the same period last year. Additionally, in 2008, Argentina posted the most growth in dollar sales in the U.S. – perhaps in part due to the growth of Malbec.
Andrew Stover, sommelier and director of wine marketing at Washington, D.C.’s OYA Restaurant & Lounge and SEI Restaurant, reports that guests still can’t get enough of this grape. He believes diners gravitate towards Argentinean Malbec because of its similarity to Merlot or Cabernet, although he considers Malbec to be more food-friendly.
Click Here to Continue Reading This Post
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