WEEK 5

LESSON 5: CREATE
NEW BUSINESS IDEAS
IN FOOD AND
BEVERAGE SERVICES
BY USING VARIOUS
TECHNIQUES
Various techniques in generating Business Ideas
1. Explore ways of generating business ideas from one’s
own characteristics/ attributes.

2. Generate business ideas using product innovations from

irritants, trends and emerging needs.

3. Generate business ideas using Serendipity walk.

Generating Business Ideas
1. Start with family.
2. Get a little help from your friends.
3. Tap your interests
4. Keep your eyes open.
5. Examine old mousetraps then build a better one.

6. Take it to the streets.

7. Sleep on it.
8. Go online
Characteristics that distinguish a good business from an average one:
1. Communicating clearly
Successful foodservice operators are clear and concise when
giving directions and motivating their staff. Issues are tackled
immediately and staff meetings are held weekly and pre-shift
meetings are the norm.
2. Thinking creatively
These individuals tend to generate and embrace new
ideas and innovative ways of doing things. Frequent
challengers of the status quo, they adapt to change in
resourceful ways and willingly accept calculated risks.
Characteristics that distinguish a good business from an average one:
3. Taking a hands-on approach
Working both the front and back of house fully understanding all
aspects of their business, capable of stepping into any role or
situation with ease and avoid being held “hostage” by employees
due to lack of knowledge
4. Being proactive
They use their supplier’s resources to access industry
information and forecast price fluctuations. Accordingly,
they flex their menu to take advantage of seasonal buys and
avoid items that may be spiking in price.
5. Applying influence
These individuals are eager to take charge and are
comfortable exerting leadership and providing
direction. They are careful to avoid abusing power or
coming off as intimidating.
6. Adopting a “servant” mentality
Simply put, this is doing whatever it takes to make the
guests’ experience the best it can be. They want patrons to
leave feeling like their expectations were exceeded and are
willing to go above and beyond to make that happen.

7. Being a provider
Strong managers make sure team members have the
right tools and training to get the job done.
8. Acting independently
Successful people exhibit autonomy, have a sense of courage and
engage in self-directed activities. They chart their own course.
However, they understand it’s impossible and risky to do it all.

9. Staying focused
Leader’s hone-in-on the task at hand while maintaining an eye on
the big picture. By having clear priorities and defining what is
truly important to the success of the business, successful operators
avoid wasting time and energy and don’t get distracted by
constant options.
10. Embracing collaboration

These individuals act cooperatively to foster win-win

interactions with others and strive to accomplish goals
through teamwork.
Serendipity: Value for Business
Serendipity is an attitude and aptitude for making unintended
discoveries by accident ‒ habitually

Serendipity as a Source of Competitive Advantage

▪ Discover new opportunities faster than your competitors

▪ Generate outside-the-box business ideas and create innovative
synergies
▪ Turn problems to opportunities.
Three Components of Serendipity

1. Having a prepared mind, being ready to make a serendipitous

discovery any time
2. Observing and noticing
3. Being passionate about creating innovative and valuable
connection
Serendipity Tips for Business and Innovation
▪ When an experiment doesn't produce an expected result, don't
discard it outright. Ask learning SWOT questions and experiment
with the unexpected outcome to see what comes out of it.

▪ Watch people while they are using your product or

invention. Be prepared to discover breakthrough opportunities
if you see people using your products in a way you never
dreamed of.
Serendipity Tips for Business and Innovation

▪ Notice how disruptive people use or treat ordinary things in an

outside-the-box way. Apply a similar mindset to your business.

▪ In partnership negotiation, expect to discover unexpected

advantages or benefits incurred due to positive synergy effects
of the alliance.