In the past couple of weeks, I have had two different successful operators with exciting brands contact me because their growth plans only existed in their head.
Neither one could figure out where to begin to take action.
So we figured it out together.
Focus on Four Things
If this story seems familiar, focus on these four essential issues as you plan growth.
My Road Map process goes step by step through everything that must happen in each aspect of a business to create smart and successful growth.
My successful clients ask themselves these questions to plan their growth:
- How many units, where, and in what time period? Their brands perform exceptionally well, and they want to capitalize on their popularity quickly, committing to what looks both aggressive and realistic.
- Who would be added to the multi-unit team to make expected results happen in a way where everything would not be dependent on ownership? To go to the next phase, you need more than the homegrown people. Since they only have one life, my clients do not want to give it up for their business.
- What about the people on the team now? How do they perform? How could they be utilized and developed in a bigger company?
- How will expansion be financed? My clients continue to own and control their brands without leveraging themselves beyond their comfort level. One of them told me, “If we are going to be a real business, we ought to be able to attract capital.”
Do It Yourself
If you want to do this yourself, start by making lists of the steps you plan to take in every category of your business.
I often find 100 necessary line items during Road Map creation. That’s a lot to keep track of. Smart operators anticipate a period of hyperactivity and they drive that rather than allow the growth learning curve to control them.
You don’t need to write a novel; just list the steps. As one of my clients tells me: “Just give me the bullet points.”
Eas(ier) or Hard?
People who skip the planning stage grow randomly, at best.
They proceed by trial and error, and the cost of that and their lack of organization is higher than they can afford – and makes growth much more risky and challenging.
I like to show you how to do things in the easiest way possible.
Carefree restaurant growth is a fantasy. But you have a choice when growing your brands: Either make it so it feels like you’re pushing a boulder uphill (and sometimes it might fall off the hill), or take the superior route: Anticipate all the contingencies and execute your growth plan.
