Let’s examine the three keys to business development and how you can put the right bricks in place to build a solid foundation.
There are three main areas of business development:
- Innovation
- Quantification
- Orchestration
If done well these three areas will help you build a solid foundation for you business. Let’s consider each one of these for just a minute.
Innovation
Innovation should not be confused with creativity, which is the expression of ideas. Innovation is taking these ideas and putting them into action. This is where a large amount of your focus should be at the beginning of your business and should continue for the lifespan of the business.
Quantification
Quantification, of course, refers to the numbers. This means the value of your innovation. The best way to gauge this is through your customer response. Look to positive responses for what you are doing right, and keep doing it. Look to your negative responses to find out what you’re doing wrong, and fix it. This will ensure that you keep growing and evolving with the needs of your customers and the overall business climate.
Orchestration
Once you’ve had a chance to find what areas of your business are working to generate success, you can zero in on those areas and concentrate on making them the stand out ideas. You pivot your focus here to get the most out of your business and to meet the needs of your customers.
I can help you work through these three areas to put together your franchise prototype, just reach out to me for assistance.
In the next few lessons we are going to transition to the 7 specific areas you need to consider in your franchise prototype process:
- Primary Aim
- Strategic Objectives
- Organizational Strategy
- Management Strategy
- People Strategy
- Marketing Strategy
- Systems Strategy
These 7 areas will fine tune your plan for the ultimate level of success.