Michael Gerber’s book, The E-Myth, is a classic business book and teaches us why most businesses fail! In a great story format, he shares the different stages of business growth and how to leverage key principles.
Have you read his book? By the way, he has several in the series: special editions for accountants, lawyers, veterinarians, managers, etc.
The E-myth books teach us several key concepts but today let’s talk about one…
Leveraging the principles of franchising!
Why are franchises so successful? Because of their efficiencies! Franchises have figured out how to eliminate waste.
If you’ve ever worked at Tim Hortons, McDonald’s, KFC or any other franchise, you know that there is a RECIPE for everything. By a recipe, I mean a step-by-step system or process. Everything is repeatable so that the next teenager or senior who steps into that job can do it well by simply following the steps!
There is no waste……
- No waste in steps
- No waste in food but more importantly…
- No waste of time spent guessing
- No waste in searching
- No waste in doubting the next step
- No waste in customization
The E-Myth taught us that profitable, successful businesses have to be efficient and one of the best ways to be efficient is to have a system.
So let me ask you…..
Have you ever thought of your business as a franchise?
The benefit of thinking this way is the elimination of waste! As we move forward into 2023, you could make your business more profitable by keeping the principles of franchising in mind.
Eliminating waste could be the ONE thing that saves your business should we face a recession or other economic upheaval.
I know exactly what it feels like to struggle to increase your profit margins and regain time to spend with family!!! I’ve worn those same shoes! But now I look at my business in a whole new way.
So let me ask you…. Do you:
✅ Spend a large part of your day putting out fires – but working less and earning more seems like something only others do
✅ Wonder why business is growing, but you can’t really enjoy your current successes (OR take an unplugged vacation)
✅ Wish your team could be more efficient rather than seemingly adding expenses to your bottom line
✅ Know your profit margins could be higher, but in your mind, that means doing more, and you can’t possibly do more
✅ Feel frustrated because you’re just surviving, despite the long hours of work?
Well my friends, if you checked off more than 2-3 of these boxes, then I want you to know that there is hope!!!
You can have more profit and regain more time and I’ll share some Quick Wins and Long Term Strategies during this upcoming mini-training….
UNCOVER HIDDEN PROFIT & TIME SABOTEURS
3-day mini training
September 20-21-22
12 noon – 1:30 ET
Register here
There is no better time to reduce inefficiencies in your business so you can work less and earn more.
I promise this training will set you up for a much more profitable Q4 and long-term success in 2023 when you implement what I’m going to share!!
YOU CAN DO THIS
Diana
P.S. There are going to be prizes – especially if you bring a friend!!!
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LISTEN HERE: As you scale & grow, do you really need an HR consultant?
