Life amidst the Covid Scare: New Year Resolutions for new franchise owner
For the marjet, the year 2020 was as bad as it can get. As we bid goodbye to a dreadful year largely overshadowed by a global pandemic, here are a few resolutions new franchising owners should take and abide by.
Investing into a business or franchise business model is a great choice, but those who want to be an entrepreneur or are looking at part time investments and enhancing personal growth. As one invests into it full time or part-time, it follows by new merging deadlines and brainstorming for better revenues. However, as it is important to follow self-preservation and same is the scenario even when you are vested in the newly formed franchise of yours. Here are some useful tips to always follow, while you set forth ahead.
1.Defining your goals
It is very important to clarify your goals and where you se yourself with this initiative. Once you invest into a franchise, it is often followed by pursuing growth and revenue. There is no harm with this approach but must be complimented with direction and a defined scope. Defining goals may sound easy, but if we give it a closer look and ponder over aspects like how do we achieve these goals? It would lead to clarity and a way forward towards progress.
2. Strive to improve professionally and personally
In the pursuit of achieving stability and profitability in your franchise, often it happens that the franchise owner tends to ignore their personal life and their personal growth as well. The path of growth cannot hinder the process of self-improvement and must be of treated as a necessity. These could be as small as reading a new book each month or solo travel. A peaceful mind is capable of churning much more productivity than a restrained and tired mind.
3. Importance of being organized for franchise owners
Being organized is one of the dominant factors that influences the business throughout the year and organising the back-end office allows to act as a solid foundation. This practice is like a bonus and makes sure the above factors fall in line.
4. Consider Networking is most important for franchise owners
It is a very common practise that the franchise owners often get tied up in their newly acquired franchise and this becomes a routine. However, this may isolate you from networking and it may hamper you and your venture. Meeting relevant people is always use full and can open new avenues beneficial for your franchise.
5. Collaboration is a must a resolution for franchise owners
In addition to networking, resolve to take action on those new-found business relationships and consider collaborating. Strategic partnerships can fuel a franchise’s success but they require effort. By resolving to collaborate, you will have a more intentional approach form these new relationships, which will enable to push your business’s growth forward.
Take away: It’s a brand-new year with new challenges and opportunities. As one navigated through the highs and lows and starts something fresh it is important to retain and preserve self. In this era of extreme workload, ambitions and risk taking involved, one looks at achieving more stability while venturing into the new. Franchise is a good way to not only progress in the work sector but also elevate yourself personally. While in the pursuit of defining and achieving goals, it is always important to focus on self-growth and personal improvement.
Karan Makan
Technology Engineer and Entrepreneur. Currently working with International Brands and helping them scale their products Globally through different ventures. He owns Multiple Food Brands and is on a continuous spree to acquire many more businesses in the coming years. With over 10 years of experience and strong background in Brand Acquisition, Karan Makan is soon poised to be a Brand in the coming years.
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