by John Francis

How to Keep Your Company Out of the Ditch

Jun 15, 2021 10:46:58 AM Franchisees, Franchisors, Franchising Help

We’ve all been there. Maybe it’s been a while - but it happens!

You’re on your way driving somewhere and get a flat tire. Or you’re stuck in stopped traffic and the engine overheats. Or maybe some idiot runs a red light or cuts a corner and you end up in a fender bender.

It’s always frustrating. And in many cases? It’s also preventable.

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The key is to think ahead and invest the time and money into maintaining the vehicle correctly (and, of course, to drive carefully).

As the owner of a business, that same advice applies to you, as well. If you want to keep your business moving (and make sure it doesn’t end up in the ditch), there are steps you must take to keep the operation moving smoothly. Things such as:

  1. Meaningful Budgeting: know your numbers, and use them to make decisions.
  2. Routine Planning Meetings: no one plans to fail, they fail to plan!
  3. Quarterly Progress Reviews: track the important - is there real accountability?

How to Get Franchisees Working Together and Moving Ahead

 

 

Accidents Still Happen

In vehicles and in business, preventative maintenance only goes so far. Unseen obstacles will occur eventually, and you need to be prepared for it. For our cars, we probably have roadside assistance to come pull us out of the ditch when trouble arises. Many insurance companies will even also pay for a rental vehicle if needed to ensure you aren’t left stranded (Nice to have the coverage!).

But when it comes to your business, do you have a similar safety net in place? For when something unexpected comes along and something unexpected goes wrong? When you wind up in real trouble, want help and you need someone to talk to, who do you call? 

The first line of defense could be an advisory board, IF and WHEN you have one that works. The members of this business advisory board know you and your business and provide both advice and assistance during difficult times. If you’re having issues with an outside distraction, they can help run interference and help you manage the issue or work on your behalf so you can focus on the important work of running the business. Or, if something tragic happens and you are unable to continue leading the organization, they could help there, too. An emergency plan can be developed with the help of your advisory board that will provide guidance on how to move forward in your absence - so the business can continue operating with as few hiccups as possible. Just like a good insurance policy, it’s nice to have and valuable if it’s in place before you need it.

Is your business in the ditch? Are you concerned that there are vulnerabilities and issues in your business that might land you there soon? 

If you’re interested in an advisory board, or are looking for outside help, reach out and let's talk! I’ll take the time to understand your situation and the challenges you’re facing and help you develop a plan to get your business out of the ditch and back on the road to success.

John Francis

Written by John Francis

About the Franchise Expert

 

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John Francis is an enthusiastic, engaging, and entertaining public speaker because he speaks from experience and he speaks from the heart. Franchising is in his blood, and his parents were true pioneers in the industry, turning their family haircutting business into a 1,000-salon franchise empire. He has been a franchisee and a franchisor, and has a deep understanding of the issues both face. Book John to speak at your event, and you and your franchisees will learn how to look at your business in new, positive, and profitable ways.

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