Running a business is like riding a wave

Running a business is like a wave

Mike Said of MikeSaidWhat Brand Strategy – a brand strategist with experience in the food sector and in franchising, has his finger on the pulse of what makes a good brand, with the focus on marketing, multi-media and service excellence. Mike Said equates running a business to riding a wave – there are always highs and lows that make for a wild ride. Understanding the process of building a business and being prepared for the curveballs will go a long way to keeping your sanity and managing a successful business. Mike Said’s business wave goes something like this:

  • In the beginning…. it’s all a bed of roses! The new business is exciting, you’re eager to please and the future looks rosy.
  • The early days…. are challenging but you’re finding your feet and if in a franchise system, getting to know the operational ins and outs.
  • The ‘I-can-do-anything’ stage…. you’re on your own now and guess what? You’re in business and doing well! That wasn’t so difficult – ‘I could have done this on my own, without the help of my franchisor’.
  • The first signs of trouble…. you’re successful and don’t need anyone interfering in your business. Now’s the time to start rewarding your hard work with some perks that eat into your business and take your eye off the ball.
  • The first signs of trouble…. you’re losing control of your business, becoming reckless, not listening to those who know better and losing focus on what’s important.
  • Into the dip…. this is the make or break point. If you are in a good franchise system, your franchisor, through his checks and balances and bench-marking, will have picked up the distress signs of your business and will offer help.
  • It’s decision time…. shape up or ship out! Take a good, hard look at your business, your lifestyle and re-evaluate that business plan you started with and commit to making the business work – for the long term.
  • The real work begins…. Go back to the basics, re-assessed the business, re-invigorate yourself and re-motivate your staff and set goals for the future
  • Success at last….. but! Having survived the killer wave and in calmer waters doesn’t mean you can ever be complacent again.

And, warns Mike Said, you can expect that wave to be repeated again and again throughout the duration of the business.

FASA Franchise Association South Africa
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