Biting the Bullet: Setting up a Franchise

I had a lovely holiday and have come back refreshed and recharged with lots of ideas. Matthew met me with lots of newspaper cuttings and articles for me to read. The place hadn’t fallen down while I was away even though two members of staff were ill for two days, Mum stepped in and really seemed to enjoy the extra responsibility in the shop.  Maybe it is true, after all, that nobody in indispensable!

We have been thinking of franchising the Cheese Mall for some time now, I didn’t actually do any research for it while on holidays (I actually enjoyed reading some chick lit by the pool) but I did plenty of thinking on the subject. Whenever I have mentioned it to Matthew, he thinks we would be expanding too quickly. After all, we are only coming up to our first anniversary.

We are doing well in our current business, cashflow is in hand, we are sticking to our business plan and making changes as required. I know our bank manager will be happy with us when we meet him for our annual review. Maybe it is because I am feeling more energetic than normal after my break away but there is a definite vibe of ‘seize the day’ mantra going on in my brain at the moment.

I revisited our book ‘The Cheese Mall: Key Marketing Skills for the Budding Entrepreneur‘ and reread about the difference between a goal and an objective.

A goal is an outcome, an accomplishment. In order to set objectives, we have to set specific goals which are both realistic and achievable. The objectives then are the actions and steps required to achieve the goal.

I’ve decided my goal is to ‘Set up a franchise for the Cheese Mall’. I see it as being specific, realistic and achievable.  Next up is to decide on the actions and steps that we need to take in order to achieve that goal. Once we have decided on the objectives, we can start working on them.

Exciting times lie ahead. Do you have goals and objectives set out for your business? Do share them with us by commenting.

This entry was posted in Business Plan, Our First Year, Starting a Business, What is Marketing and tagged , , , , . Bookmark the permalink.

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