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One of the biggest mistakes anyone can make is assuming what worked in the past will work in the future. We’ve seen many enterprises struggle in this light because times do change, markets develop different tastes, and as the world develops, we have to develop alongside it.
This is hardly limited to just business planning, it’s a truth in most areas of society. That said, businesses are absolutely influenced by the societies in which they operate, which is why the two are so interlinked.
For this reason, it can be healthy to challenge the assumptions your business planning and management might be operating under right now. Testing their strength, their relevance, and if they could be improved or even replaced might help you identify those issues before the common changes we all live under consider them to be a real problem. In this post, we’ll discuss how you might challenge those presumptions in the healthiest light.
Assumption 1: Franchises Require No Advertising
It’s easy to assume that taking part in a franchise will basically serve you a business on a silver platter, and while many systems may have been configured for your success, that hardly precludes the need for your own input. In fact, just because a franchise might have exposure, it doesn’t mean that you won’t need to promote it. But how can you achieve that? Well, with franchise advertising tools for the digital space, you’ll be able to sustain a half-known brand into a staple of the local area, giving you the best tools for success.
Equally, the digital markets act helps to level the playing field for all businesses. So, if you use any data and analytics collected to your advantage, there’s no saying that another franchise owner will be any more successful than you. When it comes to franchises, you’ll get out whatever you put in.
Assumption 2: In-Office 9-5’s Are Perfect For My Team
The standard format of working throughout the week and resting on the weekend is, of course, appropriate for most businesses and how most of the corporate sector runs. But what if your business could be more flexible? Integrating remote work opportunities, four-day weeks (these have been trialed and shown to be successful), or managing an approach towards outsourcing and using freelancers could be best to be flexible for your team. In the long run, that might enable your company to be more open and capable, and to attract a better class of talent, perhaps even worldwide.
Assumption 3: Our Primary Goal Should Be Growth
Growth can help a business solidify its position. If market forces cause challenges, a company that has grown can always downsize instead of having to weather the storm with difficulty. That said, this doesn’t mean your primary goal has to be growth at all times. In fact, it’s good to reinvest in the internal structures of your business first, such as perhaps taking your payroll in-house, hiring better talent, curating in appropriate assets like company vehicles, or even scaling your company IT to be more adaptive through better service, as opposed to using a hybrid half-in, half-out infrastructure system. Growth may sound good to investors, but if you don’t have investors, you can always more laterally for success.
With this advice, you’re sure to challenge those unhelpful business assumptions, and no doubt benefit as a result.
