Every single business owner, whatever the size of the business or however well-established, needs goals to keep moving forward, get them motivated to do more and maintain the success of their business. Goal setting might sound daunting but in reality, goals are just targets that you’ve determined you want to hit within a specific time frame and ultimately, goal setting can help you to be more ambitious and more motivated.
As franchisors we encourage our franchisees to set goals to help them take their business to the next level and here’s why…
Goal setting improves the business model
One of the biggest advantages of franchising is that people buy into a tried and tested business model but each franchisee needs to set their own goals. Think about it this way, if you haven’t got a target to hit, you won’t be able to measure your success as you move closer to the goal.
It’s also worth keeping in mind that each franchise area is different so techniques that have worked well in one area may need adapting to work the same way in another area. If you haven’t got targets in place, you won’t know what needs changing in order to allow you to reach your goal.
Ultimately, as a franchisor, we’re here to help you get the most out of your business. By measuring your progress you can clearly see whether your approach is working and if it’s not, you can access our knowledge and experience to help adapt your techniques to help you on your way.
Successful franchise operations are those that are able to react and adapt to their environment and targets are an essential part of understanding how the model works at both a franchisee and franchisor level.
Setting targets can have a positive effect across the network as the more motivated the individual franchise owners are, the more they are likely to encourage each other to achieve their goals.
This mindset can easily flow down into the culture and ethos of the franchise business and improve overall performance.
A clearly defined goal means franchisees have their eyes on the prize which in turn can help them get rid of any processes which don’t contribute to their success. Having this kind of focus teaches them how to work smarter, not necessarily harder.