Now that the holidays are past and the last of New Year's party favors have been thrown away, now's the time (if you haven't already) to look at setting goals for 2017. Do you have a plan for your franchise business in 2017? If not, fear not. During this installment of FranNet’s blog, we’re going to look at how to set achievable franchise goals in 2017.
The turn of the year, regardless of whether or not it matches up with your fiscal calendar, is a great time to take stock and assess your franchise operation. No doubt that you likely have endless monthly reports from which to cull information, but don’t ignore the intangibles. These include episodes or happenstances which occurred that may have left an impression on you. Take stock of both good and bad customer interactions and frame these as part of the discussion.
Based on what you find out during your franchise operations assessment, invite group discussion to explore and brainstorm what you and your staff determine to be progress. And be realistic. Every small business owner wants to double their profits in 2017, but you should focus on smaller, short term goals in which you can mark and measure regular progress. Go one step further and commit your goals to writing. As you tick these off—perhaps on a quarterly basis—your franchise will build momentum as the year goes on.
While concentrating on smart growth strategies and achieving new goals for your franchise, there are a couple of pitfalls to watch out for as well. When it comes to setting goals, don’t “set it and forget it." That feeling of satisfaction you have once your goals have been defined and committed to paper can evaporate quickly under the stress of day-to-day operations. By all means, revisit your stated goal plan with at least some form of frequency.
Another mistake to avoid is inflexibility. What looked right in January may not always appear the same by mid-summer. Build flexibility for your goal attainment exercise and don’t avoid adjusting the determination of your stated outcomes.
Above all, stay positive. Don’t be afraid to experiment in certain areas of your franchise operations. Find out what works. Eliminate what doesn’t. You’re capable of making the type of progress you plan for. It's never too late to get started and make 2017 the most profitable year yet!
Here's to a great 2017!
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