Many Marketing Experts insist there are only 3 ways to bring more money into your company. . .
#1- Raise your prices
#2- Bring in more customers
#3- Sell more per customer
McDonald’s has tried all three and based on their (2014) 4th Qtr. sales, none of these strategies is keeping customers from flocking to competitors like Shake Shack, Chipotle and SmashBurger.
I submit, there is another way to increase profit and it is really critical to the growth and success of your franchise.
#4- Focus on what you do best!
In fact, this is where I believe McDonald’s lost their way and woke up one day to find they had been dethroned.
Here’s the truth. When you
spend waste time, energy and effort trying to be all things to all customers. . . you are LOSING BURNING MONEY!
I see franchise owners struggle, every single day, with what I call “on demand disease”. Also known as “have it your way syndrome“.
No matter what we call it, it’s a behavior that will drown your franchise and take your profit down with it.
The big allure of buying a franchise is having a built in “profitable” system but you must still operate your unit(s) in an effective, efficient and adaptable manner.
And following my Get P.A.I.D. formula will help you:
3 keys to delegation success: train your people, treat them well and trust them. ~ Dr. Linette Montae