TL;DR
The coronavirus crisis is affecting the franchise industry, and leaders are strategizing new ways to support franchisees and customers. Keynote speaker and author Mark Scharenbroich discusses leadership and strategy in the franchise industry during the Covid-19 crisis.
The coronavirus continues to have dire effects on businesses across the country, and the franchise industry is no exception. Franchisors across segments are strategizing new ways to support their franchisees, keep customers satisfied, help local communities and come out stronger on the other side of this crisis.
To that end, 1851 Franchise publisher Nick Powills and Charles Internicola, founder and partner of the Internicola Law Firm, are covering the coronavirus and its impact on businesses through our A Conversation With webinar series.
Here are some of the key insights from their discussion.
The leaders that are moving forward and the brands that are succeeding are the ones who have clear missions, values and communications. This can be an opportune time for creative business owners as they go through what they’ve learned in the past few years and utilize best practices.
In order to create meaningful customer relationships, it is important to be memorable and to bring a little extra happiness to people. As business owners look to their practices, one way to think of it is through the concept of the “13th donut.” A baker’s dozen is 13 — companies need to find that one extra delight to bring to their consumers and staff. For example, some restaurants are adding groceries to customers’ take out orders in an attempt to help stores, consumers and vendors.
This is a reboot — a time to go back to square one. As a business owner, it is important to have core values top-of-mind, with a clear and concise understanding of what the business is all about. Authenticity beats smoothed-and-polished any day of the week. When a leader has clarity of message, team members and customers remember the business.
As a leader, it helps to pause and remember what makes the business and staff special. Additionally, the core values need to be in the head and the heart of everybody on the team.
Associations are valuable because team members can lean on experts for advice. Every team member wants to know four things: where the business is going, how it will get there, that the leadership team has their back and that they are valued.
While many businesses think they are on track, it is important to listen to the honest feedback of the team to make sure of it.
People want to know that they are valued. Great leaders acknowledge, honor and connect. They acknowledge the value of their team, clients and customers, honor them by going above and beyond and connect with them by making a personal relationship.
Moving forward, brands, individuals and leaders will be judged by the story they can tell about their role in this chapter of history. Every generation looks back to a certain event that has defined their values, and this could be ours. For example, we are now realizing just how much we need essential businesses and just how heroic those are who supply these services.
Hopefully, there will be more of an incentive to treat people and clients with kindness and authenticity. There are tons of stories of people coming together (six feet apart) and helping each other through this time.
If you see something, say something. When someone goes above and beyond in terms of kindness, now is the time to really show appreciation.
We are all wondering when people will feel comfortable being in an audience again. After this crisis, there will likely be a hunger for people to get together, go to restaurants, etcetera. Similar to the way movies are better in the theater, meetings or speaking engagements are more impactful in a group. Once we are past this, there will likely be a celebration of people getting together.
In this story
This story was originally published in 1851 Franchise on April 15, 2020. Burnaze summarizes and links to the original reporting.
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