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Franchise Success: Setting Goals for Your Business

September 02, 2021
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Starting and operating a business comes with specific goals and challenges. One of the biggest ways to ensure the success of your franchise business, or with any business, is to set goals for yourself.

Setting goals is necessary, but some business owners either lack the discipline to do it or don't know how to. Here are some ways you can set goals for yourself that will go a long way to help you achieve success.

A Yellow Road Sign That Reads Challenges Ahead With a Businessman About To Jump an Obstacle

Take Action

There is a difference between "dreaming" and "doing."

Many business owners dream about how they want their business to succeed and then make little effort to make it happen. If it doesn't happen right away, some business owners will often think their business is failing and might even consider quitting.

You can dream all you want about how you want your business to be. But you have to set goals and accomplish them at some point. The first thing you need to do is take action. The keyword here is "action." You do this by setting goals.
  1. Visualize Your Goals This is the only part of the process where a little dreaming is okay. Think about what you want to accomplish and visualize your goals.

    What are the general goals that you want to achieve? How can you achieve them for your business? When you visualize your goals, let your ideas run wild. Capture them on paper for later reference. After this, it's all about taking action on your ideas. You can only think about something for so long before you have to start doing it.

  2. A Businessman With a Spyglass Visualizing a Target That Represents His Goals
  3. Make Specific Goals Don't make it a goal to "improve customer service" or "increase revenue" by a specific quarter. These can be overarching goals, but you should write the "specific" ways you intend to achieve those goals. Under the umbrella goal "increase revenue," for instance, you could start with "commit (x amount of dollars) to digital marketing efforts." Be as specific as you can to create a direct path towards what you want.
  4. Set Realistic Goals Don't go crazy. It's important to keep them realistic. If you set the bar too high, you may not reach your goals, which can discourage you and might even stop you from working toward other goals. Start off small with manageable goals that can get you where you want to be.

    It might not get you there as fast as you'd like, but accomplishing each of those smaller goals will inspire you to keep working towards the bigger picture.
  5. Be Accountable Hold yourself accountable for not reaching specific goals or for plans that fail. Likewise, give yourself credit for a job well done. The best way to do this is to put your goals in concrete form (write them down) and cross them off the list after you've achieved them.

    Animated Businessmen Being Precise When Measuring a Target Goal
    If you fail to reach that goal at a specific time, revisit the goal and figure out what went wrong. If you achieve one earlier than expected, identify why you managed to do that and see if you can apply some of the same principles to pursuing your other goals.
  6. Be Flexible Flexibility is noteworthy because no matter how well laid a set of plans are, sometimes situations arise that get in the way. Changing situations shouldn't mean the end of your goals. Just find a new way to reach the same desires.

    On the other hand, a goal might legitimately change. If you need to change a goal, be aware of why that happened, and then pursue a new goal in the same way you pursued the original.
Part of being a franchise owner is the support you get from the franchisor. Make a special goal to be more involved with the parent company. Attend events the franchisor offers to help make you a better business owner. Take advantage of any special training or advertising campaigns the franchisor offers.

Go out of your way to communicate with the parent franchise company to see if they can offer extra assistance in helping you reach your objectives. Share your ideas and your plans. A good franchise company will be interested in hearing what you have to say. A meeting of the minds can often lead to the development of new methods that can help all franchisors be more successful.

A Flexible Franchise Owner With One Leg Over His Head While Looking at His Laptop
All USA Franchises Resources can help you stay in touch with other franchise owners and professionals in the industry. We also provide you with an informative AUF blog that's full of helpful articles and tips for franchisees. You'll also find the latest franchise news and the latest information about the franchise events you won't want to miss. In addition to the blog and events information, we bring you a valuable resource section that helps you locate franchise advisors, franchise brokers, franchise consultants, franchise financing, franchise developers, franchise lawyers, and franchise training services. These resources will save you time and can provide you with additional franchise help when you need it. They can also go a long way toward helping you find ways to set goals and stay on top of your goals.

If you haven't yet made the leap to franchise ownership, All USA Franchises can help you get started. We are the largest FREE franchise directory you'll find, on a mission to list all of the available franchises in the United States. Start your franchise search here and find the perfect franchise by industry or by investment.

Setting goals doesn't just apply to those who already own a franchise. Anyone who wants to start a business or buy a franchise can benefit from setting goals and working toward them as well. Don't just dream about owning a franchise. Get started right now.

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