SEVEN AREAS OF CONSIDERATION FOR YOUR FRANCHISE PROTOTYPE (PART 1)
The seven specific areas you need to consider in your franchise prototype process:
These seven areas will fine tune your plan for the ultimate level of success. In this lesson we are going to cover the first three:
It’s essential in business development to set goals and to see a vision for the future. This needs to go beyond the business–you need to think about what you want out of life. What do you dream about? How do you see your success unfolding? Knowing and understanding these things will give you the momentum to get started and the stamina to see it through. Even take a minute to write them down and tape to your desk in a conspicuous place for a constant reminder of what you’re aiming for.
These are essential in taking your business from surviving to thriving. All of these objectives should offer solutions for how to get to your primary aim. There are many things you can use to set strategic objectives, but here are a couple of the most popular:
Money: Setting monetary goals is a simple way to see how you are doing at any point in the game. It’s easy to measure and easy to find adjustments to help meet this goal.
Worthy Opportunities: When considering partnerships and other business opportunities, you need to think about whether or not they will help you reach your primary aim. Those that will, based on your own business criteria, are the best opportunities to seriously consider.
The key in setting standards and goals is not to limit yourself, while at the same time, to also not stress yourself out. You need to find some quantifiable things you can use to measure your progress toward your primary aim. These are just two suggestions, but make sure that no matter what standards you set, you are paying adequate attention to the details, as these two are the greater keys to your success.
The strength of your organizational structure can make or break your business, so it’s important to take the time to put together a solid structure for your business to grow from. Generally a company is organized around the roles and responsibilities that need to be taken care of on a daily basis and the personalities that need to fulfill those roles.
No matter what roles and responsibilities you’ve defined for your employees, you must always keep your personal primary aim separate from your company’s primary aim or mission statement. Once you’ve identified the primary aim for your company, it will be easier to set up a position structure that will work.
Don’t forget to put together position contracts. Your employees should sign a statement of their roles and responsibilities. This helps keep them clear for you, as well as the employee and other employees/vendors or other individuals.
You can see how these areas all work together to build a solid structure on which to build your business. If you need help defining any of these areas, contact us!