The start of the new year is often accompanied with resolutions, many with the intent of improving our lives personally or professionally. Setting realistic goals can set you and your business apart from the competition. When looking to expand your business, keep in mind that it takes time, and remember that you aren’t alone – there are people all around to help you fulfill your goal.
Growing a business isn’t an easy task, but having helped Kiddie Academy to evolve into a flourishing franchise with more than 210 child care locations nationwide, I’ve learned a few things about how to build and operate a business successfully:
1. Connect with your community
Location is crucial for any business because having the right location makes it easier to naturally connect with those around you. Building relationships with local business owners and community members can help propel any business to new heights. In 2018, we achieved enrollment of 25,000 students nationwide. We believe we were able to reach that significant milestone because of the value Kiddie Academy places on the relationships we’ve nurtured with the families and communities we serve.
2. Take advantage of resources
Joining a proven franchise network comes with its perks, such as an abundance of tools and resources at the franchisee’s disposal. From a list of highly vetted, preferred vendors to comprehensive training and marketing materials, your franchise development team at the corporate office has answers for any questions that may come up.
There is also a handful of valuable resources to help a business grow and achieve its goals. Seek out a mentorship program or partner with an associate to fill any gaps. A great one is SCORE, which is a nonprofit association supported by the U.S. Small Business Administration. SCORE has a nationwide network of 10,000 volunteers who provide their expertise often at no charge.
3. Hire the right people
A recent study found that 73 percent of people believe customer experience is an important factor in purchasing decisions and many consumers will spend up to 16 percent more on products and services with better experiences, which includes interaction with employees. That said, a successful franchise owner should make hiring the right people a top priority. The people who work at your place of business are your best asset. You want to make sure people feel comfortable interacting with your staff and that they’re having a good experience every single time. Additionally, every hire, from directors and managers to team members, affects the bottom line and can make or break your growth.
4. Enjoy what you do
Smiles are contagious. When you’re happy with your job, you can’t help but show it and others will notice. In fact, companies with happy employees outperform the competition by 20 percent. Practice keeping a positive point of view and create an environment where you, your employees and customers feel happy.
Growing a business is hard work but with a positive mindset, good people around you and a strong support system outside of the office, your business can flourish. What are some growth tactics you plan on using to grow your business in the new year?