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We are in the strategy-implementation phase of Fight for your franchise challenge, focusing on real-world leadership skills development. This week, our strategy is one of my most powerful leadership techniques, one I have used to help my client make some of the most important decisions in their business history.
I call this process the Three Decision Lanes strategy, and it ensures that you are applying. Upside Down Pyramid The servant leader structure, as well as the possibility of positive results, is increasing.
Some franchise leaders make hasty decisions that have negative consequences. Remember that franchising is like no other business model. There is a large network of franchising entrepreneurs who are interdependent. Every decision made by any leader in the ecosystem affects the overall brand and all its parts.
The Three Decision Lens strategy helps you focus and prioritize, like we did back then Coaching session week four For assessment, adaptive and overcome exercise. We place this information in three different categories, called lenses, so that we can see through the center of the three lenses to present a balanced judgment. The lenses are legal, practical and political. When you place this information and potential outcomes in each lens, you draw the best decision in the center or target area that gives due importance and balance to the decision, resulting in the best decision that everyone can agree on in a fair way. And positive for the overall brand.
Legal (and Finance)
The legal lens will look at contracts, legal obligations, potential risks and liabilities, and financial calculations. This lens also contains financial elements to consider.
The practical lens looks at how this decision will have an impact on the company as a whole and all its members.
Politics is usually the most important of the three, as it reflects a team member’s commitment to the company. Think about the way they feel about you as the leader of you and your management team.
The best way to understand this process is to form a pair to explain a pair in the real world. In the first case, we are about to assume that we are a franchisor considering a change of a national supplier to save a bit of money.
Look at the three steps in the process:
- Legal. When we collected all the intelligence for the legal lens, we found that we had the legal right to change the supplier as stated in our franchise agreement. You also crunch the numbers and see that you can add close to $ 50,000 in savings for the corporate office.
- Practical. Practical lens findings tell you that change will be smooth from the point of view of technology and implementation, but unit-level changes can be challenging on franchise owners.
- Political. The political lens, often the most important of the three, shows you that many franchise owners get distressed considering the impact on their local businesses. Many owners have great relationships with this vendor, and low productivity can outweigh the savings from switching.
The goal decision for this scenario is to show franchise owners the benefits of using the new supplier and share the savings as incentives (ie servant leadership) and allow them to take overtime to minimize the negative impact on their units. To offer permission to transition.
For the second scenario, let’s say you own a Dallas franchise that is thinking about being open 24 hours to try to increase revenue for your local unit.
- Legal. Depending on your franchise agreement and lease, you have the option of operating 24-hours.
- Practical. From a practical standpoint, you may find that the logistics will be manageable, but you will have to work in an overnight shift for the first month to ensure a smooth transition.
- Political. The political lens shows you that current employees are not interested in working overnight and forcing the issue can result in the loss of many employees.
The goal decision for this scenario is to start the interview process to hire employees overnight and offer incentives to existing staff members, if they will work in the overnight shift. You decide to make a slow transition from being open overnight only to the first weekend to reduce the negative impact on employees and give you a better reading on revenue growth potential.
Try this exercise for your business:
- Draw three decision lenses on the board and label them legal, practical and legal.
- Write a current decision you have recently struggled to top.
- Enter all of the related intelligence and possible outcomes in each lens.
- Decide based on the most balanced positive outcome.
- Measure your goals and KPIs and adjust as needed.
This week our Franchise Bible Coach Radio Podcast with Rick and Rob, Our guest was Zachary Blue, franchise owner, Buffalo Wings and Rings in Wichita, Kansas. Zach shared many of his important decisions that had an impact on his business, employees and community. You can listen to the entire podcast by clicking on it FBC Podcast Leave it at Weekly content On the tab www.franchisebiblecoach.com.
We have also joined forces with the entrepreneur to bring even more resources to help you survive and survive this epidemic. Fight for Your franchise The coaching videos are now hosted on Entrepreneur.com, and you can subscribe for free. This gives you access to our content, as well as other great resources offered by the entrepreneur. Click here To set up your free account.
You can join the fight on the website and get instant access to weekly resources including video-coaching sessions, articles, podcasts and our Facebook community. This is our way of helping our industry deal with this crisis. You as the business owner are the backbone of our global economy. I know you’re feeling tired from battle, but there is light at the end of the tunnel. You’ve made it this far, so keep fighting the good fight!