Franchise Leadership Development: Tactics for Success

Upon the launch of a franchise, there is little as important, or as taxing, as attainting the pinnacle in proper leadership. It is from this rank that profit and growth can not only begin, but continue to occur. For example, leaders who understand the importance of laying a customer-centric groundwork will enjoy success comparable to the respective level in which they delve.

Rick Gross, author of Entrepreneur Magazine’s “Franchise Bible” and CEO of Franchise Hub/Vet Starter, shares his best strategies for implementing an effective franchise leadership development plan. Keep in mind, however, these strategies can be applied to any company.

Leadership Definition Magnifier Shows Active Management And Achievement

 

Cultivate your ideas into a strong plan.

There is little that can be accomplished without proper planning. Otherwise, team members are left in the proverbial dark, spending more time fixing mistakes than making productive strides toward success. Gross equates lack of strategy to “taking a journey without a map”. He suggests beginning by “[writing] down the company leadership vision. Be specific and include job descriptions and action items”.

Related:  How to Become a More Strategic Executive

Decide upon the best model.

According to Gross, recognizing what “makes you tick” is a first step in discovering a suitable operating system from which you can create and adjust your final business model. If you feel you are more effectual as a leader in a hands-on setting, you may decide to hire others to handle the desk-work, or vice versa.

Related:  Identifying Your Leadership Style

Observe your team in a realistic way.

Repositioning or eliminating team members is never a pleasing task, however, if the situation does arise where adjustments need to be made for the ultimate good of the organization, don’t hesitate to act accordingly. With this in mind, Gross recommends “[being] selective as you add people to your organization to make sure they are a good fit and have what it takes to help your company thrive”.

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Seek outside assistance.

Gross reminds us how “[leadership] is one arena that has many resources for ongoing education and development”. Enrolling in a leadership training and development program may be one of the best decisions you ever make. Assuming you know all there is to know about running a business of any kind is not a mindset conducive to the growth of your organization.

Related:  The Importance of Executive Development Programs

Incorporate technological tools.

KPIs (or key performance indicators) of your company’s leadership can be most easily gauged with the help of technology. However, for purposes of accuracy, it’s important that any technology-based leadership tracking be implemented within all levels of your company. Do the proper research to ensure you have chosen the best technological tools for your needs.

Related:  Leveraging Technology to Accelerate Business Growth

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Conclusion

Those just starting their leadership journey should remember that their own narrative is never complete. There is always another stage to build upon; yet with a strong strategy in action, your most attainable goals will be more quickly achieved, as will your reputation as a respected leader.

Further Reading:  Leadership Advice: Five Practices to Avoid

 

Fred Coon, CEO

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