Is Your Franchise Flying Blind?

EOS Issues

How to Recognize and Address Your Core Business Issues.

Over the past several months we have highlighted the various components within the Entrepreneurial Operating System (EOS).

  1. Vision
  2. People
  3. Issues
  4. Data
  5. Process
  6. Traction

While each of the 6 components of the EOS Model is a separate entity, they inherently interact with each other in some capacity.  Each individual component needs to be solidly identified if the EOS is going to help the company’s health and growth.

For example, while most companies think that the Issues they are having are unique, in actuality there are only about 25 different Issues that companies have faced since the beginning of time.

Issues: IDS

Let’s examine one company in the news lately that lost close to $1 billion in the market because they failed to handle an Issue properly.  The company in question is, of course, United Airlines.  My purpose is not to get into a debate of the legalities (or illegalities) of what happened, but to merely show you how important it is to go through your own IDS (Identify – Discuss – Solve) for any Issues you might have. Let’s start with what happened within United’s chain of command that broke down so horrifically into a continuing PR nightmare.

From United’s website:  “We are committed to providing a level of service to our customers that makes us a leader in the airline industry. We understand that to do this we need to have a product we are proud of and employees who like coming to work every day.

Our goal is to make every flight a positive experience for our customers. Our United Customer Commitment explains our specific service commitments so that we can continue a high level of performance and improve wherever possible. The commitment explains our policies in a clear, consistent and understandable fashion. We have detailed training programs and system enhancements to support our employees in meeting these commitments, and we measure how well we meet them.”

 

Very interesting…so what happened, what’s the Issue?  From what I’ve read in the various media posts, someone realized that they needed to get 4 crew members to Louisville for the next day.  They had a Process for this, eventually randomly selecting passengers to “volunteer” their seats. It’s still inconclusive as to if that Process called for having police “enforce” that policy.

Part of the process of identifying the key Issue here is to ask a few questions:

  1. Why a PR nightmare?
  2. What happened & What could have been done better to resole this Issue?
  3. Solution:  Analytical tools, Process modification, People

From our February e-newsletter on issues, “Only when the real root Issue is identified should you and your team begin the discussion phase.” What is the real Issue that United is facing?  I’ll suggest a few, but this list is by no means conclusive.

  1. Too much concern for the bottom line that Wall Street requires (Data component)
  2. Too little concern for their paying customers (a direct conflict with their Vision)
  3. Faulty Process
  4. Process driving People, rather than People driving Process

Hopefully, Oscar Munoz, the CEO of United is going to give more than lip service when he states his apology for ‘re-accommodating’ passengers. What happens over the next few weeks will be telling as to how seriously United takes this Issue.

What types of Issues are you facing within your company?  If you would like to have  an Issue Review Session with coach Thom Torode, click here to schedule.

Thom Torode is a NJ based Professional Executive & Business Coach and EOS Implementer. Having owned and operated over 5 different businesses he is currently the Managing Director for Sunrise Business Advisors.   Thom’s expertise includes working with those business owners who have plateaued getting them unstuck and back in growth mode. Additionally, Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.

 

Slingshot Sales Handling Objections

Handling Objections

In  previous article we discussed the importance of working with qualified sales prospects in order for the band in your Slingshot sales process to properly tighten before launch.  If objections are not handled properly the Slingshot band will break or release too soon.  Handling objections with finesse and grace will allow the band to release with just the right tension thereby closing the sale.

When Objections are handled properly the process is like a rocket taking off.

When Objections are handled properly the process is like a rocket taking off.

Prospects will have two types of objections.

  1.  Legitimate concerns
  2. Those voiced as objections, while in reality are the prospects way of asking for reassurance and clarification.

Throughout the Slingshot sales process it is critical to remain calm,  patient,  and focused.  Remember, people buy from people they know, like and trust.  Above all be authentic while handling objections.                Prospects know when your trying to pull one over on them.  While handling objections properly is literally like watching a rocket ship take off.  When objections are not handled properly your life become like the Greek god Sisyphus forever pushing a rock up a hill.difficult business task

To keep the band tight and ready for release it is important to answer questions in a forthright manner.  It’s also of to continue inquiring with a prospect where they are in the buying process.  This includes asking them to be open and honest if at any point their plans have changed.  This helps both of you from wasting each others time.

Thom Torode is a NJ based Professional Executive & Business Coach. He has owned over 5 different businesses and is currently the Managing Director for Sunrise Business Advisors. Thom’s expertise includes working with those business owners who have plateaued getting them unstuck and back in growth mode. Additionally, Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.

 

Slingshot Sales Qualifying

Sales Qualifying

In our last article, we discussed Sales Targets and understanding why people buy.  Once we have know whether it’s primarily based on Pain or Pleasure, we can now determine if the opportunity is real through Sales Qualifying Questions (SQQ).

The Band

In the Sling Shot Sales Process all the aspects of the process lead up to having a band that is taught and ready to hit your target.  In this part of the process we are adding energy to the band preparing for its release.

Typical Qualifying Questions: 

Slingshot Sales Qualifying

Slingshot Sales Qualifying

  • Does the prospect have and issue that is big enough to justify paying you money?
  • Is there a budget and ability to spend?
  • Are all the relevant decision-makers part of the process?
  • Is there a clear time line and process to decide?
  • What solution will best solve their problem?

As you prepare to build out your Sling Shot Sales Qualifying Process, remember that you are the professional sales person must always be aware to define all the aspects of your process.

Typically these elements are required in the Sales Qualifying Process:

  1. The Step in the Process
  2. How that step happens (phone, email, in person)
  3. Time for each step
  4. Criteria in determining success and knowing when its OK to move onto the next step.

As you follow these steps the band on your Sling Shot will continue will continue to tighten preparing you for the next step of handling objections and managing momentum.

Book Now to have your sales process reviewed –

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Thom Torode is a NJ based Professional Executive & Business Coach. He has owned over 5 different businesses and is currently the Managing Director for Sunrise Business Advisors. Thom’s expertise includes working with those business owners who have plateaued getting them unstuck and back in growth mode. Additionally, Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.

Slingshot Sales Process

Slingshot Sales Process

I’ve heard allot about the importance of creating a sales process lately. In fact a quick Google search brings up more than 128 million hits. Unfortunately most of those are encouraging you to use or follow “their” process. At Sunrise Business Advisors, our approach is vastly different.
We believe in the importance of having a sales process, in fact if you don’t have a process you might as well be using a shotgun to try and hit your target.
If you’ve ever had a prospect in your pipeline who wasn’t a fit for the service or product your franchise business offers you understand the full frustration that brings to mind.
By having and using a sales process you can virtually eliminate all that frustration. Our process that we demonstrate is based on using a sling shot.

Why a Slingshot?

A slingshot is a device with a frame and an elastic band, which allows the user to fire a projectile with accuracy, speed, and depth.

Slingshot Sales Process

Focused Aim at Your Target

Slingshot Sales Process

With the right conversations, the salesperson and prospect exert just the right amount of energy to the band to make the projectile fly (e.g., close the sale). With the wrong conversations, the sale either breaks down or falls short.

In my next article, I’ll go into more detail about the how and why of a slingshot.
Email Now before spots gone for your sales process review.

Thom Torode is a NJ based Professional Executive & Business Coach. He has owned over 5 different businesses and is currently the Managing Director for Sunrise Business Advisors. Thom’s expertise includes working with those business owners who have plateaued getting them unstuck and back in growth mode. Additionally, Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.

Franchise Sales Coaching – Producing Champions

Sales Coaching for Franchise business – The most direct way to impact your business quickly.

There has been a lot of discussion in the press lately about the multi-million dollar salaries that many college football coaches are receiving after winning divisional and national championships. However, whether it is football, golf, or even world-class singers, it is often the coaching that makes the difference in mediocre and record-setting performance. It is the wisdom, training, discipline, and experience of good coaches that turn talent and potential into consistent results. When it comes to sales, the importance of coaching is often overlooked, and the poor performance that results can be financially disastrous.

Franchise Sales Coaching: The Winning Element

Many franchisors are very successful at capturing the techniques and methods that go into building a smooth-running franchise. However, the world’s best planning and systems are worthless without the revenue required to generate a profit. In fact, many of the people attracted to the order and processes of a franchise are not natural sales people, and have little or no training or experience in even basic concepts of sales. What you end up with is a well run failure!

Growth - Business Concept

Even those who have come to the franchising business from a sales career path find it difficult to work their sales magic within the structure of a franchise operation. For franchisors, the issue of sales cannot be overlooked for a number of reasons. First, the success of individual franchisees is essential to overall corporate growth and bringing in new operators. Secondly, the real value of a franchisor is in its brand, and you simply have to ensure those local units help protect and develop that brand with effective marketing efforts.

Providing needed sales coaching is often the key element that helps a franchisor successfully implement their strategy. The process of defining sales goals, monitoring  success towards those objectives, and dynamically modifying a local marketing program are all parts of the marketing effort. These and other components all require knowledge, skills and capabilities that are only developed over time, and most effectively accomplished with external assistance and guidance – sales coaching.

Sales Coaching Function: Enabling and Empowering

No one buys a franchise without a desire to succeed. However, many fail to realize that success is dependent on more than following the checklists in an operations manual. Professional sales coaches understand that the sales process is a mix of science, discipline, art, and creativity, and they work hard to help individuals understand that uniqueness.

When franchisees view the success of others and accept the story of the franchisor, it is easy to be lulled into thinking they simply have to hang out their new sign and customers will come running. However, just as the franchisor has to effectively market to their prospective operators, they also must coach those franchisees in the marketing and sales efforts in their communities and marketing areas.

Importantly, sales planning and efforts that might come naturally to a trained salesperson may never come to mind to someone who has never focused on sales. It is that awareness that is the first function of a sales coach, ensuring that all franchisees assign a priority to building their business through effective use of provided materials and their own initiatives.

If the goal is to win, and win big, there is no shortcut when ensuring your franchisees receive the best sale coaching and training possible. See our section on Group Sales Coaching Programs, as we would suggest your entire team should be involved with sales training and coaching.

Business Start Up

For more information contact Sunrise Business Advisors

Thom Torode is a NJ based Executive & Business Coach. He has owned over 5 different businesses and is currently the Managing Director for Sunrise Business Advisors. Thom’s expertise includes working with those business owners who have plateaued getting them unstuck and back in growth mode. Additionally Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.

As the managing director of Sunrise Business Advisors, I have owned and operated a multitude of different businesses as well as holding senior management positions with a fortune 500 company. In addition to being a Certified Business & Executive Coach, I am also a Certified Franchise Coach, as well as Certified Guerrilla Marketing Coach and Trainer. Our philosophy is to provide coaching, mentoring, and advisory services to help business owners achieve the businesses, the teams and the lives that they’ve always dreamed of having. We accomplish this through a tried and proven process of learning and understanding your needs and we’ve always achieved high marks with our valued clients.
Additionally Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.