Resolutions - Looking Forward

In our last article, "Reflections - Past, Future, Present" we talked about reflections and how the holiday season is the one time of year that we find ourselves reflecting, without even trying. In addition to reflecting during the holiday season, as a new year begins again, we are also no doubt thinking about what we would like to do differently, stop doing, or that new thing we would like to try. We commit to a decision, and start off January with a new focus.

The reality is that resolutions tend to fall short as time goes on. We start out strong, but I bet you can attest to not always sticking to the resolution. You are in a very small minority if you have achieved your resolution throughout the year. What about your franchise business? As you have reflected on the past year, have you considered resolutions for the new year? Are you committed to keeping them throughout the year, and do you have a mechanism in place to ensure you do not fall short on your commitment?

We typically do not view setting business goals or business planning for the new year as making resolutions. However, it truly is what we are doing. As a business owner, we are looking at things we would like to keep doing, and hopefully get better, things we would like to start doing, and then those things that we would like to stop doing.

For example, perhaps you have been thinking about what the new year has in store and you are considering things for your franchise like:

• Technology - continuing to evolve at a pace that requires businesses to keep up or fall behind, technology is an area that can set a franchise operation apart from the other. Consider mobile or social for your customers and how to leverage to engage and generate new business. Or perhaps something that can help streamline the operations of your store like more advanced payment options (Apple Pay or Masterpass, etc.)
• Innovation - just like technology, being innovative can set your business apart. It does not mean that you have to come up with the new product or placement ideas, but perhaps you have a new way to communicate or get your messages to your customers. Or maybe you have some ideas on how to create a more engaging and interactive work environment for your people.
• Experience - an area that is becoming more of a requirement with the Millennial (and up and coming Generation Z), is the experience with your brand or store. This is not limited to your customers, but also your talent. Looking at technology and innovation, you can combine those and create powerful experiences to keep your customers coming back and your people wanting to stay.

Resolutions do not have to fall short. In fact, in business it is imperative that we work harder than ever to keep our commitments. Doing so will ensure that you not only have a stronger foothold going into the year, but you also might find yourself enjoying the exercise as the year draws to the end. You might even find that as you work to keep the resolutions you have set forth for your business that you become an expert at setting and keeping personal New Year's resolutions.

Kendall Rawls knows and understands the challenges that impact the success of an entrepreneurial owned business. Her unique perspective comes not only from her educational background; but, more importantly, from her experience as a second-generation family member employee of The Rawls Group - Business Succession Planners. For more information, visit www.rawlsgroup.com or email info@rawlsgroup.com