Consider 2020 as the year to elevate your brand to the next level! If you are standing still in business terms, taking into account rising costs, you are actually going backwards, so always aim to push onwards and upwards.
You need to ensure that every area of your business is working at maximum efficiency; with lean, streamlined processes that mean your team is not duplicating needleless work. If you are not familiar with LEAN process management (or even if you are!) it’s worth checking out Paul Akers who runs a company called FastCap, on YouTube. His videos are fun and watchable and I particularly like his video on ‘LEAN at home’ where he covers continuous improvement from LEAN gardening, to LEAN lawn mowing, showing how being hugely organised can be fun and deadly efficient at the same time. The videos may give you some bright ideas to keep moving on up!
For businesses, personnel is a key area where you need to make sure that you everyone is working to their optimal efficiency. Part of this comes down to correct and thorough training, plus a little motivation! Staff need to know exactly what they are doing and have a defined process in place to complete every task, eliminating wasted time, which should all be covered in your operations manual.
Territory mapping for example, is one way to make easy improvements too, as it is a great tool for maximising the efficiency of any given franchisee. The level of data that we are able to extrapolate from territory mapping software, not only allows us to create even-territories, but also heat map client demographics, view B2B opportunities, as well as highlighting competitors in the area. All this data can be transferred into targeted marketing campaigns, maximising return on investment per marketing spend.
However, one of the common pitfalls of trying to elevate your brand is growing beyond your means. This can happen in a number of ways when it comes to franchising; for example, recruiting more franchisees faster than you’re able to support, which has a knock-on effect, perhaps leading to franchisee failures, mismanagement and not being able to uphold customer service levels. You can also get stung by not having appropriate supply lines in place.
On the flip side of this, investing in people, systems and equipment before you need them is necessary. If you wait too long, it will already be too late, service levels will begin to fall and your reputation will suffer. Talk to d&t and we can help you carefully consider asset finance options that you can realistically afford, which may help you move forward when you/your franchisees need to invest in new equipment for example, not to mention growth business plans mitigating the risk of taking new members of the team.
Similarly, don’t be afraid of making the hard choices, sometimes a franchisee who isn’t performing to their highest standard can devalue the brand proposition for neighbouring territories and overall. Working with them to address those issues is the first step, but if that fails, then exit planning is final line of defence.
With an existing brand that has been in operation for a number of years, it can be prudent to take a step back from the business and make sure that you’re still appealing to the same target market. Do you need to refresh your branding? Do you need to look at profiling your client base so that you can ensure every message and piece marketing that goes out is hitting your target audience? Bringing on an Executive Chairman when you begin to hit critical mass can allow you to broaden your perspective increasing your market outreach and ensure the longevity of the brand.
There are many ways you can make continuous improvements. On 21 February 2020, d&t is running a free seminar in London and in conjunction with a number of industry leading experts, who will supply many more ideas on how to elevate your brand. For further information or to book a place please see:
https:/www.eventbrite.co.uk/e/established-franchisor-academy-workshop-21st-february-2020-tickets-78427070479?aff=ebdssbeac
I hope to see you there and in the meantime keep “up” the good work!
