Boy, it sure has been a rough couple of years in the restaurant industry, and now that I think about it, the last three years have been rather tough - question is - is it going to get any better? Well, yes there are some good signs on the horizon, and also a few thunderclouds. For instance, the consumers are starting to come back, but commodity prices have risen sharply, consumers are using their credit cards less, and in walks "mobile smart phone payments" from a side door. Yes, the stage is set, and new characters are coming through.
But like anything, chaos and crisis often provides opportunity for the smart entrepreneur. Now let's assume that you are a smart entrepreneur, and your customers are already asking you if they can use their mobile iPhone App to pay for their meal. If you say no, you will be met with a grimace, and a dirty look, like what's your problem? Remember, this up-and-coming generation is quite demanding, and they want to do business on their terms, and if you want their money you should be cognizant of this fact and work to satisfy their desires and needs to play with their high-tech toys, and personal tech devices.
But then all of a sudden 50 people walk through the door, and start ordering up a storm on their iPhone, mobile smart phone payment apps. You are in business now, and you just made your whole week. Life is good right, absolutely, but what if you don't take smart phone payments, then what? Well then my friend, you won't get that business, and we wouldn't be having this conversation would we? It is definitely something to think about. And therefore I ask that you please consider all this and think on it, because that future is rapidly approaching, and if you want the business you are going to have to meet the new high-tech consumer demands. Please consider all this.
Lance Winslow is the Founder of the Online Think Tank, a diverse group of achievers, experts, innovators, entrepreneurs, thinkers, futurists, academics, dreamers, leaders, and general all around brilliant minds. Lance Winslow hopes you've enjoyed today's discussion and topic. http://www.WorldThinkTank.net - Have an important subject to discuss, contact Lance Winslow.