Tender-expert – Business is a marathon and not a sprint. Most businesses tend to grow, accelerate and then notice that they need to slow down – sometimes a lot. I’ve seen too many people think that business growth happens in a slow and steady manner. The ironic part of this statement is that quite often on the contrary, businesses also need to back up their growth projections. If you have clearly defined your goals, break them down into manageable chunks, think about what is being done towards achieving those goals and then take action.
Understanding factors that help achieve your goals is one of the key steps towards growing a business. Most people assume that the McDonald’s model is the perfect model to follow or at least one that is usually exaggerated. One of the things that runs through my mind whenever someone wants to increase their business and revenue is this very question: how do you improve the odds that you will actually achieve your goals. The answer is that your process needs to be systematized. You need to have a master plan, step-by-step action-by-step processes and keep reviewing your processes to ensure they are working.
One of the more important factors that you will eventually realize is that in order to grow your business, you don’t need more time or extra staff. The thing that you actually need more time and staff, and thus more resources, is the ability to extract the resources that you have. In other words, to stay in business, you need an effective marketing process, a consistent and repetitive approach to customer acquisition and a system that focuses and nurtures your customer relationship gathering and nurturing activities.
This is where most businesses fail to meet their goals. To build a successful business, you will find that most small businesses have a lot to learn from McDonald’s because not every business is necessarily built to have aAnalyze- Result- committing action mechanism. I’ve found that the biggest hindrance to a businesses success is it’s customers. Without your customers, you don’t have a business. Although it may seem obvious to you, a lot of small business people struggle with this point and fail to understand that they need to find customers. Without customers, you will have low overheads, no future cash flow and rapid growth pressure and so on. By now you are subconsciously realizing that you need to find customers and must employ some tactics to acquire customers. Some businesses have an interesting history in which other more traditional businesses caught on and adapted more of what McDonald’s was doing and built great businesses.
The interesting thing is that McDonald’s had been successful before crashes, yet until then, they were a much more conservative and tenacious company. In contrast to McDonald’s, these other businesses had barely been able to begin their businesses activities with customers. But without customers, nothing could be built and no business could survive until at least as recently as the late Chicago days. At that point where McDonald’s was in its troubles, goblets and fries were one of the most ridicule-edy items on the menu. Same goes with ALL stores recently as Ray Kroc recognized that the margins for the small businesses had to be eventually realized and the strategies for this new business had to be adjusted accordingly so that everything was necessary for this new business model (unlike McDonald’s, where the drink machines typically generated revenue before any product(s) was sold). It’s true that ALL stores recently opened need to find placedizable customers (which are pokerclub88) and some basic customers are met and other have to be cultivated and loved.
The key elements that McDonald’s was able to understand and adjust to was how to make bundles of profit from these few stores and then grow the same businesses on their own premises without the parent company taking a big bite of the profits. We also need to understand that when you grow, you eventually need to talk to your parent company and have them adapt to what needs to happen to your growth based on their own goals. However, it has been well documented that McDonald’s tried to grow on their stores by starting to act like the mom and pop grocery stores a long time ago, which resulted in the development of brand value. McDonald’s has seen huge profits and has continued to grow for years because of his drive for good customer service. Learn how you can observe, adapt and grow your business as you grow it without the same worries that McDonald’s had in their early days.