To be a franchise owner is one thing, but to be a successful franchise owner is another. Many people think the day they open up the doors to their business is the day they automatically start making money but it’s not as simple as that.
To be a successful franchisee or in fact a successful entrepreneur in general, you need to adopt the necessary habits for success. Sean Lilley, the Marketing Manager of Scooters Pizza shares some insights of the habits necessary for business success.
Habit 1: Connect with your customers
Your customers are your bread and butter, without them you only have a product or service that is useless to an unreceptive market. Research shows that by connecting with your customers emotionally, you have a 300% chance of being recommended to others, they are 44% less likely to shop around for a similar product and they are 33% less sensitive to pricing. Your priority should therefore be to know your customer, not just understand their needs. Put the customer first in everything that you do, really listen to them, demonstrate respect at all times and understand that the customer is always right. If you can tick these four boxes, you will create an emotional connection.
Habit 2: Set the bar for business
To be a successful business owner, the only standard that you need to obtain, maintain and constantly strive for, is perfection! If your business offers the best of the best in product and service, your customers will notice and keep coming back for more. A happy customer will tell 4 – 6 people about an issue that has been resolved while an unhappy customer is likely to tell 9 – 15 people about their bad experience, which might just make them all defect to your competitors. You can make up for negative experiences but remember that it can take up to 12 positive experiences to make up for one unresolved negative incident.
Habit 3: Share wisdom
Strive to hire and retain the most qualified peopled and equip your employees with the necessary skills to enable them to do their jobs successfully. By creating and maintaining a work environment characterised by open communication, trust, fair treatment and regular incentives, you will maintain a happy workforce, which on average is 50% more productive. A study conducted by American Express shows that customers will spend at least 9% more with companies that provide great customer service.
To keep your team motivated, help them to understand what the business objectives are and that their role in providing superior customer service is crucial to success, exciting and purposeful in helping the company achieve its goals. Make sure management is approachable by keeping them updated and informed at all times. Celebrate successes with them and share and learn from failures. By treating your staff well they will reciprocate this behaviour to customers. Statistics show that 81% of companies that offer great customer service outperform their competitors.
Always keep in mind that practicing the right habits is crucial for success but adopting negatives ones can be as impactful but could mean the downfall of your business. Make sure your positive habits become second nature by living them daily so that they can subconsciously and automatically drive your winning approach to business.
Opinion piece shared by PR Worx.