It’s a super important thing. There’s a big difference between the businesses who success or not. Moreover, there are statistics that show, in the USA, in France, and it is pretty much the same everywhere: the rate of failure and success according to the type of business. And when we look at these studies, we realize that there is a little less than the firms that survive after the first 5 years (so I mean that there is more than half that fail before their 5th year).
And there is only one type of business which has a rate of success at + 90% after 5 years. This type of company is the franchise. The idea is not to create a franchise like Mc Donald or Subway or to transform your company into a franchise but to implement of what works for franchisees in your company.
I’ll show you how to do it, I’ll explain why there’s a huge difference between franchisees and independents or small normal businesses.
The secret: industrialization
Simply, the difference lies in the fact that in a franchise everything is industrialized. The entire company is cut in small part.
- how do you get new customers,
- how do you serve your customers
- how you thank your customers,
- how you retain your customers,
- how you cook such stuff, etc.
Everything is transcribed in recipe, process to follow exactly. Everything is always done in the same way.
And what makes the difference between a franchise and an independent company, it is that independent entrepreneurs are working in the dark. I do not know about you, but every time you do an action without really measuring the result, without really knowing what it’s going to give, and so suddenly it’s extremely difficult to improve your business because you are working in the dark. And so, it is consequently extremely difficult to develop your business when you don’t have a tools to measure each point.
The idea that frees up the mind
This idea, this is not me who invented it; there is a series of books on it.
There are processes for everything. A script for how to answer the phone that we will be able to test and change if necessary etc. How to answer the phone will be standardized.
You must start by all unravel. So you make process sheets. Example: how to respond to emails, the response time, the content of the email…
You can make processes about discounts, management, sales systems, in short everything you do.
I also propose you to analyze your business: draw a diagram of your business on each of the links in your business.
- When someone enters your store/visit on your website,
- When a visitor registers on your list,
- When a customer requests a quote / information,
- When a prospect becomes a customer,
- When a customer buys for a 2nd time,
- When a client returns, what is proposed to him,
- When a client becomes very regular,
So do make a diagram of all the way route your customer in your company and having points of measurement (key indicators) for each transformation point. It allows you to make tests, to improve the conversion rate from one point to another, from one level to the next level.
Create an auto-pilot mode for your business
And the simple fact to imagine that one day, for example, you’ll sell your company, so it implies that your company works autonomously. Or even imagine that you need to recruit new employees.
In all these cases, these people know nothing about your business and will be ready to integrate it very quickly because they just need to follow your process sheets.
You will expand your business as if tomorrow you give the keys to someone else.
The simple fact of doing that, will allow you to standardize everything that happens in your company. Anyone can do it.
The big advantage of this trick is that it frees you lot of time because you do not have to venture you on what to do, how etc.
The second benefit is that release your mind!
Yet once again, the idea is not to create a franchise, is just to get inspired from franchise systems because it works. Studies show!
So the fact to systematize every tasks allows you, when one process run well, to put it in auto-pilot mode! And so you can more easily concentrate on a second trick to improve! And so forth.
So you remove questions of the type “shit! today I did not done enough sales, what can I do?” And because you have measuring points, you know where it works, where it does not work, and what remains to be improved.
3 levels of action
Reflection must be separated from the action. Reflection must be separated from execution.There are three types of job in a company:
- There’s the strategist, the boss, one who decides the strategy of the future, the marketing strategy…
- There is the manager, it is the one who will take the ideas of the boss to distribute them to the team.
It will organize the execution without doing the execution himself.
- There are the performers, those who will do the job, and those who implement the ideas.
And when you work alone, you do the 3 at the same time! Therefore, you understand why now you’re always exhausted! And there are lots of entrepreneurs who remain throughout their career, their whole lives, on this diagram at the stage of performers! They are so not the time, so they head in their craft, in the performance of what they do, that they have no time, no brain available to think about the other 2 levers.
That is the level manager, how I can organize my time wisely, how I can implement procedures to make work faster and easier, how I organize my enterprise.
And the other level, the strategist lever, who will measure the results, set the orientation of the strategy this week, this month: this month we are going to do this, it did not work on the acquisition of prospect this last week so I should test Y, etc.
So the idea is to spend the least possible time in your business, at the performing level. To have a lot of time and energy to work on the strategy. And that is precisely what this system of procedure, process, allows you to do.
The idea is to have immutable procedures. Whatever your mood of the day, etc, you always apply the same procedures, the same plans, because you have a process that works, that has been tested, you know that if you apply exactly these steps, you will have the desired results.
The only time where you can change, it is only to make tests to optimize the results of a procedure.
Performer at part-time
To summarize, you’re part-time at the implementation level, and the rest of the time, you are the strategist. It does not mean to botch your work. I mean that you don’t block all your brain for implementation.So what you can do today is your diagram of how it goes in your business to your client for example.
Your marketing schema:
- By where your customers start their relationship with your company,
- What append after?
- Then, it is necessary to setup key indicators to ensure that whenever a client passes from one level to another, you know why, where, and how.
And you’ll set yourself a time, each week, each day, to change & to improve this scheme, your key indicators tools and develop your process sheets.
And you will end up with a system of procedures, automated, you have detailed. Now you can fully be serene, and go further in your business strategy. You no longer headache, but you can admire the beautiful horizon!