Here is a fascinating statistic: according to many studies 85% of businesses that are franchised are still in business after five years while only 50% of non-franchised enterprises survived that same five-year time frame. Why might that be? The primary reason is that franchises come with a solid business model, a sound infrastructure, and a proven set of repeatable systems that both define and “run the business”. This model removes the burden on the owners and employees to build a business from the ground up, through trial and error and places it on a foundation of proven and pre-existing systems and processes that simply need to be implemented. It also provides the client/customer a consistent and predictable experience, which goes a long way to engendering loyalty.
This works for every kind of business and every strata of client: whether you’re walking into a Ford or Mercedes lot, a Target or Nordstroms, a McDonald’s or Delmonico Steakhouse, a Samsonite or Tumi luggage store, you expect to have a predictable and positive experience delivered by knowledgeable and engaged employees. Whether you’re running a brand-new practice as a Sole Practitioner or a sophisticated, multifaceted Megateams, you must rest your enterprise on a solid foundation of predictable systems and processes tailored to address your clienteles’ challenges and expectations. While the need for this type of infrastructure and highly systemic approach increases as your clients’ financial needs become more complex, therefore requiring a more sophisticated and multidimensional team enterprise to address those complexities, we recommend you begin this “systems-based” approach early in the development and design of your practice.
As we like to say, “place the burden of execution on a solid infrastructure and predictable repeatable systems, not on your people”. This will free your team to focus on engaging your clientele and growing your business.
