All business owners know the importance of communication. Good communication is needed with your suppliers, advisors, and employees to keep your business running smoothly from an internal standpoint. Do you ever think about the importance of communication with your customers?

Regardless of your type of business, this needs to be considered. Customers who purchase more temporary goods or services have the opportunity to be repeat visitors, customers who make a large single goods or services purchase have the opportunity to offer impactful referrals or reviews, and clients with accounts have the opportunity to be long-term partners. Gaining insight into customers' perspectives is ideal for growth.

Because women, veteran, and minority-owned restaurants are a small portion of the restaurant industry, they were granted a priority application period for the Restaurant Revitalization Fund.

The priority application period for underrepresented restaurant owners came to a close on May 21st, and now the fund is open to all restaurant owners on a first come, first served basis. If you're in the food and beverage industry, has your accountant proactively spoken to you about this? If not, keep reading for details.

Why is it so important for underrepresented U.S. business owners to take advantage of benefits like the Restaurant Revitalization Fund? Everyone deserves the American Dream.

• A majority of U.S. business owners are white. They own over 2.5x more businesses than minorities do (African Americans, Native Americans, Asian Americans, and Hispanic Americans combined) and make almost 7.5x more in receipts.
• A majority of U.S. business owners are also men. They own almost 1.5x more businesses than women do and make over 6x more in receipts.

The Restaurant Revitalization Fund is currently open to women, minority, and veteran-owned businesses as a priority until May 21st. If you fall into any one of these categories, has your accountant proactively spoken to you about this? If not, keep reading for details.

You likely started your business because your entrepreneurial mindset was driven by your passion, not because you like performing financial tasks.

How can you reduce your time spent on financial tasks while maximizing your profits? Take advantage of the free resources available to you online, especially if they have been crafted by an accountant or payroll professional.

Luckily, CSI Accounting & Payroll offers a variety of free resources for small businesses. Let us help - your nightmare is our passion!

We increasingly live in an age that is centered on convenience. Streaming services mean that fewer people go out to the movies, and car apps like Lyft and Uber mean that fewer people own vehicles. One space that has seen an online surge are food delivery apps. DoorDash, Uber Eats, and Postmates all advertise that they can get your favorite restaurant’s food right to your door, without you ever getting out of your pajamas.

Editor's Note: Today's post is authored by Keane Amdahl. Amdahl is a food writer in the Twin Cities; his writing has been featured in City Pages, Thrillist, Eater, Lavender Magazine, and TC Food Finds. He also writes about the restaurant industry on his blog, FoodStoned.  CSI Accounting & Payroll provides monthly accounting services and payroll processing for small businesses in the Twin Cities, including many restaurants.

If there’s one true thing to know about any business, it’s that there’s no silver bullet or magic equation that will automatically make it successful; this is especially true of the hospitality industry. When your singular goal is to please as many people as you possibly can through your food, service, and ambiance, you can quickly find yourself pulled in a multitude of different directions. In fact, the hospitality industry is probably the only industry that proactively tries to shuck the old adage, “You can’t be all things to all people.”

It’s good to see outdoor dining spaces opening at local Twin Cities restaurants this spring. Patios are getting swept, tables and chairs are receiving a power wash, and sun umbrellas are popping up along sidewalks.

All of the prep tends to move it’s way inside the building as management and staff are in spring cleaning mode. Don't let the momentum stop there. 

Annual tax hangover or not, now's the time to do some spring cleaning of the financial variety.

Doing so will allow you to trim expenses, identify new opportunities, and carve out more time to work on building profitability for your restaurant rather than being swept up in the day-to-day activities.

It seems as if that extra day in February this year may have been helpful for many restaurants, according to the National Restaurant Association's latest index report. 

Menus have evolved over the years to serve multiple purposes -- be it branding and marketing, or setting the tone of the dining experience, menus are an important extension of your business and point of contact with customers. As a restaurant owner or manager, however, you shouldn't overlook the fact that your menu design can enable better sales, first and foremost. A pretty menu that highlights low-margin items doesn't add value to your business. 

Did you know that restaurants use 3-5 times more energy per square foot than other commercial buildings? All of that kitchen equipment, from the freezers and ovens to the water heaters and dishwashers, can certainly influence your utility bills.

By identifying energy wasters and best practices for managing your necessary equipment, you can increase profits via lowering your energy costs.