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Log In / Register | Apr 19, 2014

Plan for a Franchise; Plan for Your Franchise

Don Drummond, correspondent for the The Sun recently contributed an article ‘Plan for the right franchise.’ He poses several questions every potential franchise owner should consider: “What hours do you want to work? Do you want a business that is open every day? How do you feel about employees?”

Planning is critical in the selection process. Don’t let the planning stop there. .. once you become a franchise owner, you need to follow your business G.P.S. Regardless of your industry, just as in your car, your G.P.S. will take your business where you want to go.

Goals

Yogi Berra (former major league baseball player) said, “If you don’t know where you are going… you might wind up someplace else.” So, set clear goals for yourself. Drive to the next stage in your business by setting three different goals:

  • BHAG (Big Hairy Audacious Goal)A goal for the long term that is daring and will require a significant amount of time and effort to achieve.
  • Near Term GoalSomething that will take longer than a year to accomplish. This goal should support the BHAG.
  • 2010 GoalThis is an achievable goal for this year!

Plan

You must plan for every day, every week, every month and every year. If you don’t have a plan, somebody else will plan your day for you. Each person who sends you an email that you don’t need to read. Each person who calls you that you don’t need to talk to… These people are planning your day. It is not their fault! If you have an awesome plan for your day, you’re more likely to have an awesome day.

Stay on Track

Any major corporation has a Board of Directors that they are required to answer to. Create a similar accountability system to help you stay on track. Find a colleague, a friend or a group of business owners. Have one ten minute call a week. Start off by sharing your goals and your plan. Then, hold each other accountable. Did you do what you said you were going to do? If not, why not? When you have somebody else involved, you are more likely to stick to your plan.

If you’re running any type of franchise from food and fitness to healthcare and business services, following your G.P.S will help you navigate the quickest route to the success you’re looking for.

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