CCR2 Wave of debt
Business advice: if I knew then what I know now
Starting a new business in a time of difficulty is a significant undertaking which requires planning and adding to your skill set
Chris Wootton Managing director, Poppies
As we celebrate the fourtieth anniversary of opening our first office this year, the whole network gets to look back at the time spent in their respective businesses. Although some might find the thought of self-critique daunting, I would reflect on my time in business – especially since taking over as franchisor in 2018. Here are some insights into the golden
nuggets of advice I would tell my younger self after spending over two decades as a business owner, franchisee and, latterly, franchisor.
Create a robust plan Moreover: you need to follow it! It is usually
a requirement from most franchisors and funding establishments during your start-up process, but it is crucial to keep referring back to it. I would suggest always having three
years planned in advance and frequently checking in to assess how you are performing in relation to your goals. You will be able to clearly see where
you are heading, as well as knowing when to change course according to your performance. With your business plan firmly in place,
you can use those figures to align your goals – for example, tracking your sales conversions and profit margins.
Of course, the more business knowledge you have when you start a business the better, but the skills of communication, listening and also understanding are a fundamental part of not just business but everyday life
Find a mentor In franchising, when you invest in a brand, you are automatically mentored by the franchisor, their team and the established franchisees from the network. By getting the right guide, you can tap into their experience to further your own skills. I did it when investing in Poppies – I
adored the founding franchisor, Sue, and she became not only a mentor, but a friend. Now I have taken over the reins, I can pass that knowledge, passion and enthusiasm through to future franchisees.
Psychology is more useful than business The art of understanding people, how they react and why, is a lot harder to learn than business skills. Of course, the more business knowledge
you have when you start a business the better, but the skills of communication, listening and also understanding are a
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www.CCRMagazine.com September 2020
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