Successful business owners will tell you that setting clear, actionable goals is vital to business growth. Recognized In 2024 by Inc. magazine as one of the fastest-growing companies in the U.S., the team at FranServe, Inc., the world’s largest franchise consulting and expansion organization, knows how to transform vision into reality. By Nancy E. Williams
Successful business owners will tell you that setting clear, actionable goals is vital to business growth. Recognized In 2024 by Inc. magazine as one of the fastest-growing companies in the U.S., the team at FranServe, Inc., the world’s largest franchise consulting and expansion organization, knows how to transform vision into reality.
Check out the invaluable advice that two members of the FranServe executive team – Lina Heredia, administrative service director, and Jerry Rieder, chief operating officer, CAFC, CFC – shared about setting goals.
Why is goal-setting important?
Goal-setting is important in business because it gives a clear direction and helps teams focus on what matters most. It keeps everyone aligned and motivated, making it easier to measure progress and achieve success. – Lina Heredia
Goals provide a clear direction for what you want to achieve individually or as an organization. They are important in providing motivation, clarity, accountability and a sense of achievement when met. – Jerry Rieder
What is the FranServe executive team’s process for goal-setting? How are the goals communicated and tracked?
We conduct annual “FranForward” goal-setting and planning sessions where all department heads present their goals and objectives for the year. Plans are communicated to the organization primarily through semi-annual “State of the Union” webinars, which all employees and affiliates are invited to attend, the annual FranServe Convention and regular corporate communications. Progress against goals is tracked through weekly or bi-weekly department, one-on-one or team meetings with our CEO, Alesia Visconti, and communicated to the consultant base and others as appropriate via the “SOTU” calls, FranTalk: the FranServe monthly internal newsletter and/or email communications. – Jerry Rieder
What is the impact of not setting annual goals for any business?
Not setting annual goals can have a negative impact on any business, including FranServe. Without clear goals, teams may lose focus, become disorganized and miss opportunities. It also can make it difficult to measure success, leading to lower productivity and missed growth potential. Setting goals is essential for any business to stay on track and succeed. – Lina Heredia
A lack of clear goals can lead to stagnant or declining results. One of our core values is “grow or die” and setting clear, effective goals has been one of the keys to FranServe’s exponential growth over the past few years. – Jerry Rieder
President and CEO of FranServe Alesia Visconti also weighed in on the importance of celebrating goals achieved by the business.
“There’s a balance of celebrating wins and not falling complacent to them, but to deny the team celebrations on wins is selfish. Whenever FranServe wins any kind of award, I’m quick to pass that recognition to my team. After all, it does take a village! That said, a leader needs to remember that it’s about moving forward and setting new goals that foster growth. To quote Babe Ruth, ‘Yesterday’s home runs don’t win today’s games.’ So yes, we’ll celebrate every win as a collective team, but right after that celebration, we’re setting a new goal!”
Nancy E. Williams