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As Seen in Multi-Unit Franchisee Report - Operations and Lending Impact Business Value

As Seen in Multi-Unit Franchisee Report - Operations and Lending Impact Business Value

The last installment of this series is focused on lending and operations, and their importance in driving value in the business. In the first three articles, we focused on the overall value drivers in the business and then broke them down into the first two core value drivers of leadership and relationships. There is no question that leadership and relationships are the most critical value foundation of the business. However, the other two pillars are just as important to driving value in your multi-unit franchise organization:

Lending

Banks are going to want to know how strong your business is before they choose to invest in it (and you). When it comes to banks looking at the value of your franchise operation, they take into consideration subjective conclusions of borrowing capacity based on various criteria, including the three V’s of leadership:

  • Vision – Do you have a clear plan for use of borrowed capital? 
  • Values – Is there a positive impression of core values, character, etc?
  • Victories – Is there a track record of business successes that include borrowing money

It is important to understand that the bank’s impression of the business mission, strategic plan, character, competency, commitment of management and ownership continuity as they generally reflect on the bank’s confidence in your long-term business plan.

 

Read the complete article on the Multi-Unit Franchisee Website website

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As Seen On #AskNCM: What do people want from a leader?

As Seen in Park Press: Family Dynamics - A Constant Force

As Seen in Park Press: Family Dynamics - A Constant Force

For family business big or small, family dynamics is often their heaviest weight to lift into the next generation. There’s an essay on weightlifting and life by Henry Rollins that’s well known in the fitness community (by folks in my generation, anyway). In it, Rollins talks about how finding weightlifting as a young man helped him build strength both physically and mentally. Rollins affirms that circumstances and people will change throughout life but that, “…two hundred pounds is two hundred pounds”. I think one of his points is that the “iron” is a constant, something that will always challenge him and that will always be there to guide him like a beacon in the night.

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As Seen in Digital Dealer - Increasing Leadership Effectiveness: It’s Simple (But Not Necessarily Easy)!

As Seen in Digital Dealer - Increasing Leadership Effectiveness: It’s Simple (But Not Necessarily Easy)!

Think of the most effective leader you’ve known or read about? What characteristics made that person come to mind? Pick up any magazine, journal, or periodical and you’ll probably find one or more articles that talk about desirable leadership best practices and/or about becoming a better and more effective leader. Most of those articles make leadership sound like a mystical process that blends heart and head into someone who magically morphs into a super powerful, charismatic, influential, and bottom line human being. And the authors sometimes seem more concerned with whether a leader is good or bad than with whether or not the leader actually makes something happen.

Let’s take “good” and “bad” out of the picture for a moment. Instead, let’s focus on effectiveness and ineffectiveness. Can the same leader be effective and ineffective? Does it matter who’s being led? Do skill levels of the followers make a difference? Does individual willingness to follow make a difference?

Well, the answer to all four questions is yes. What comes first, however, is understanding what leaders actually do. In simplest terms, leaders use power and influence to produce results. Period. And everyone leads one or more someones, even if it’s only themselves. When led effectively, people and organizations grow. When led ineffectively, people labor and organizations can feel like a prison.

Read the complete article on the Digital Dealer Website website

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As Seen in Multi-Unit Franchisee Report - Three Relationships That Are Key To Success

As Seen in Multi-Unit Franchisee Report - Three Relationships That Are Key To Success

Value is derived from a variety of areas within the organization. Understanding the value drivers is a critical component of ensuring long-term sustainability and success. The four key areas of focus, as outlined in “Building a Foundation to Weather the Storm” are relationships, lending, operations and leadership. Although leadership is one of the most important categories for long-term success, it is not the only one.

We discussed last time how leadership impacts value in the areas of generational management, recruiting and retention, successor identification, and development. This time, we are going to look at the area of relationships and drill down into how they impact the value of your franchise operations. As with any business operation, relationships are a critical piece of the complex multi-unit franchisee business puzzle. The franchise industry is one that relies on relationships more than many others because of the dependence on brand reputation and product quality.

Although there are a multitude of relationships that have impact on the success of a franchise, there are three that play directly into the value of your organization:

Read the complete article on the Multi-Unit Franchisee Website website

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