Its Not The Time To Rest On Your Laurels When Youve Purchased A franchise

Well - what is the value of a network? A simple '''''''lots of money' is the answer to this question. A network has been developed and nurtured over a period of many years from an amazingly wide range of contacts. If you decide to sell your business the value of your network is reflected in your goodwill.

Could you imagine conducting business without your network? To say the least it would be most difficult. People who commence business without the benefit of a network can really suffer.

One of the major benefits of purchasing a franchise is the fact that it comes with its own built in network and there is no need to 'reinvent the wheel'. However if you have purchased a franchise business it is not the time to rely exclusively on the network established by your franchisor. You need to focus on building the network through your own efforts.

Once you begin to appreciate just how important your network is, you begin to realise that you should not only cherish it but also regularly communicate with members of your network and be on the lookout for additional members with whom you can conduct business or who can help you in other ways. Obviously this is a two way street and you should also be concentrating on ways which you can be of assistance to members of your network without considering what they can do for you.

As Australia's networking guru, Robyn Henderson, puts it there are 3 universal laws of networking:

• Give without expectation
• Have an abundance mentality
• The law of reciprocity give without remembering and receive without forgetting

Every time you take the kids to McDonalds and place an order you are going to hear that innocent question "Would you like fries with that"? Instead of mentally complaining that you are sick and tired of the same old question why not consider how you can use it in your own business via your network.

When it's all said and done it's a lot easier to expand the volume and type of work which you are undertaking for existing customers or clients with whom you already have an excellent relationship, rather than trying to start from a zero base with a new one.

It's a relatively simple task to set this programme in motion. You can formulate a basic checklist which would incorporate the following points for each client or customer:

• Work already undertaken for the customer or client
• Additional work which could be undertaken
• How do I advise the client or customer of additional Work?
• letter
• Telephone
• Face to face
• Circular/newsletter

This process may lead to a review and extension of the services you provide by the addition of some services which are allied to your core business.

The promotion of "would you like fries with that" could be more subtle than the manner in which it is proffered at McDonalds. If you are launching a new service or services, you could include the details in a personalised letter to each client or customer or distribute a circular in which you detailed the new service and also included some advice which would be relevant to your clients or customers.

On the other hand, if you prefer a reactive rather than proactive style, you could wait for trie appropriate moment when your client or customer makes some comment regarding one of the services you provide which they are not currently using and subtlely suggest that you can offer some assistance in this area.

There is a final point which should not be overlooked. Never forget that you need to "love the one you're with" by always ensuring that you keep your existing clients or customers happy with your service and keen to act as your disciples. Every business needs a group of fervent disciples who will act as your advocates and recommend you to their own network

By Bob Ward of Which Franchise? Magazine