Three Things To Consider When Shifting Your Business to a Franchise Model

In an ever-changing marketplace, businesses often find that their current models no longer support their growth. Like many businesses, EOS Worldwide faced such a challenge, and in response, chose a franchising model to promote a cohesive brand through its growing community of EOS Implementers®.

EOS Worldwide Visionary Mark O’Donnell reflects on his experience stepping into his leadership role as the company transitioned to the new franchise model and how change management served as a key ingredient to success.

From his lessons learned, he offers three things for other business owners to consider when shifting their business model to a franchise model:

1. Go slow.

Change is hard, and transitions require thorough preparation. Take time to understand every change and its implications.

2. Work through the REDUCE framework.

Devised by Jonah Berger and shared in The Catalyst: How to Change Anyone’s Mind, REDUCE is a framework for removing five key barriers to change: Reactance, Endowment, Distance, Uncertainty, and Corroborating Evidence.

3. Prioritize openness and honesty.

Open and honest communication was a critical element of our transition, but in hindsight, I see that being even more transparent would have helped facilitate a smoother transition. Legally some things must be withheld, but consider anything you’re not sharing with employees very carefully. Be as transparent as you can.

Read the full article here.