The success formula for every small business be it an independent business or franchise is composed of four main ingredients:
It is coined as “KASH”, after the first letter of each word. This is how it is defined:
KNOWLEDGE: Peak-performing business owners/ franchisees have a high level of product, service, and operational knowledge. They are students of their business and industry. They know the business model inside and out, and execute it consistently over time. The understand the nature, dynamics, and leverage points of their business, meaning they have identified all of the activities which produced the greatest positive results. They work ON not just in their business.
ATTITUDE: business owners/franchisees with appropriate attitudes have a realistic and healthy view of their business and in the case of franchises, their franchisor. Their results may not always be great, but they know why – and are working to improve their results. It’s often said that attitude ( or how we think) drives all action. Given the same external events (such as conflicts, external economics, etc.), some attitudes such a problem-solving generate greater results than others such as “fighting” or denying reality. Few business owners/franchisees produce outstanding results without first generating winning attitudes. Attitude and positive “mental management” are one of the keys to achieving peak performance in any business/franchise. When the small business owner/franchisee learns how to manage their minds, all of the rest falls into place in natural order.
SKILLS: Skillful small business owners//franchisees exhibit polished and effective behaviors “in the trenches”. They know how to accomplish their tasks and manage their customers, employees, and systems with great effectiveness. They possess and refine the skills required to be effective owners/franchisees. They are able to employ their knowledge with freedom and ease.
HABITS: Small business owners/franchisees with well developed, good habits produce results easily and naturally. They are almost “unconsciously competent”. They tend to produce more results than other owners/franchisees with the same amount of time, money, and energy. They know what the high- priority activities are that produce the greatest positive results, and spend more time engaged in these activities than do underperforming owners/franchisees.
Therefore, to be truly successful (no matter how you define success) in the business enterprise, one should concentrate on the KASH formula for success:
K+A+S+H = SUCCESS !!
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Franchise Paths To Success