Owning one business is challenging enough, but when you own multiple franchises, you need to be organised. Having acquired and steered five McDonald’s franchises to success in seven years, Portia Nondo is perfectly placed to share the lessons she’s learnt along the way.
- Plan: The planning starts before you even buy your first business. Once you are in the business, you have to develop your medium- to long-term business plan on how you will achieve growth.
- Be obsessed with excellence: Make sure you deliver excellent service to your customers, which will bring growth to your business.
- Be people-focused: Develop and nurture a team that subscribes to excellent customer service.
- Be involved: If you understand your business, you can influence and lead in the right direction.
- Keep the correct balance between operational involvement and strategic direction. This is important especially as the business expands. This can be achieved by creating a business structure that caters for each expert function.
- Practice financial discipline especially in the ‘good’ years. Businesses and the economy go through cycles. It’s therefore important to develop a proactive financial strategy.
- Be a willing learner. Take time to listen and learn from other business colleagues who have expertise to share as they will always add value.
- Be legacy-focused. I believe that having a legacy approach enhances the value and passion that you bring to the business. Ask yourself what footprint you will leave in your community, with your employees, and with the brand after you have exited the business.
- The customer must be at the centre of everything.
- Have fun and enjoy the independence of being your own boss! It has some challenges and responsibilities, but it’s still so much fun.
*Read more about Nondo’s inspiring business journey on page 36 of the July issue of DESTINY. On shelf now.