Franchise owners should continuously hone several skills and abilities if they wish to grow their businesses. This ranges from people skills (with customers and employees) to analyzing performance metrics. While we could list at least a dozen “must-have” virtues and skills, we’ll limit it to five essential items in this article.

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Do You Possess These 5 Productivity Habits?

Prioritize Mental & Physical Well-Being

Yes, this is the most important because you can’t get very far, owning a franchise, by allowing your health to deteriorate. Granted, owning a boutique store offers plenty of work/life balance, but it still requires a lot of effort, which can become tasking even for motivated entrepreneurs. Therefore, smart owners know they have to set aside time for exercise, recreation, proper nutrition, and perhaps most importantly . . . sleep.

Focus on Business Systems

Business management works best when it’s deliberate, systematic, and as predictable as possible. This is one tremendous perk of owning a franchise: your franchisor already has a system and expects you to follow it. This doesn’t mean you have to enslave yourself to standard operating procedures. However, the more you stray from a proven franchise system, the more you risk jeopardizing the results.

Practice Good Coaching & Mentorship

The soft skills are still incredibly important for managing a business in 2024. It only begins with formal training and employee onboarding. Almost all team members require feedback from a manager who doesn’t devolve into a micro-manager. The best supervisors know how to offer guidance without constantly surveilling their team.

Develop Strong Technological Skills

You don’t need to build your own website from scratch, but it’s incumbent upon business owners to have a firm grasp of the relevant technology in today’s commercial environment. Do you know how to use helpful SaaS programs like Slack, Zoom, or Google Drive for communicating or organizing information? What about social media platforms for responding quickly to critical reviews or customer complaints?

Manage Your Metrics

It’s impossible to gauge business success without knowing the numbers. This begins by identifying key metrics (foot traffic, organic website traffic, sales conversions, etc.), along with an organized way to track them. In keeping with the last skill, you’ll want to master the appropriate software for analyzing these important measures. Those include everything from Google Analytics (for web usage) to utilizing Excel sheets to understand budget figures. If you partner with Scout & Molly’s, we spend a lot of time training new store owners how to handle these things like pros.

    Scout & Molly’s Franchise Opportunities

    As usual, we hope to attract bright and enthusiastic business leaders to become part of our team as franchise owners.

    If you think you already have most of these productivity habits, then you might make a terrific fit with Scout & Molly’s Boutique. We’re happy to hear from you anytime to discuss what that entails. Contact us soon to explore the boundless opportunities of franchise ownership with us.

    Posted on April 16th, 2024