The Multiplier Model: How Systems Can Create Exponential Business Growth

by Mark Siebert

Overview

Create a Business that Runs Itself
Going from small business to successful startup to scalable growth takes more than just good luck, it takes a system. Over the last 34 years franchising consultant and growth expert Mark Siebert has been sought out by more than 70,000 executives looking to expanding their company. Out of those 70,000 only 5,000 had the right systems in place to go from successful to scalable.
What do these companies have in common? 1. They are good at what they do. Being good at the core of your business that you continue to see a healthy return on your investment. 2. They have a system in place and a manual on hand. Their process is documented and routinely integrated into every aspect of their business, so if someone follows the system the business can virtually run itself.

Product Details

ISBN-13:	9781599186672
Publisher:	Entrepreneur Press
Publication date:	07/27/2021
Pages:	282
Product dimensions:	6.00(w) x 9.00(h) x (d)

About the Author

Mark Siebert founded the iFranchise Group, a franchise consulting organization. He is an expert in evaluating companies franchisability, structuring franchise offerings, and developing franchise programs. Siebert has personally assisted over 30 Fortune 2000 companies and over 500 start-ups franchisors. He lives in Homewood, IL.

Table of Contents

Foreword Peter Ross, ceo and cofounder, senior helpers xiii

Introduction xxi

Multiplying your success xxvii

What to expect in this book xxviiii

Chapter 1 Introduction to systems 1

How McDonald's does it 3

The founder's quandary 5

Two steps forward, one step back 7

The trap of day-to-day complacency 10

Freedom from fear 14

It's about systems 15

Why franchising depends on systems 17

Every problem is an opportunity 19

The systems mindset 20

A system without controls is a doorstop 24

Chapter 2 Creating your money machine 27

The heart of your money machine 28

Return on investment 30

Determining your KPIs 32

Look at it sequentially 34

Customize your paradigm 37

It has to work without you 38

Apply the multiplier model 38

Chapter 3 Understand how to measure success 41

Finance matters 42

Measure with your income statement 43

The balance sheet: your other scorecard 45

Measure with comparative testing 47

Ask the right questions 49

The problem with statistics 50

Building a business plan/financial model 51

Don't confuse metrics with strategy 53

Leverage outside expertise 54

Chapter 4 Know who you are 59

Start with passion 61

Beware of entrepreneurial deficit disorder 64

Keep your concept simple 65

Creating your value proposition 67

Start with the end in mind 68

Stay true to your brand promise 73

Names don't make businesses 79

Take your concept for a test drive 84

Chapter 5 Marketing your money machine 87

Marketing is a moving target 88

Aiming with a rearview mirror 89

Embrace your story and tell it memorably 91

Pick a lane 96

A systematic approach to competitive intelligence 99

Knowing your customer 101

Targeting your customer 102

Developing an appropriate marketing budget 103

Measurement and refinement 105

Chapter 6 Competing with the internet 109

The m-commerce effect 111

Harness the power of reviews 113

Surviving a reviewer attack 115

Creating your fortress strategy 122

Chapter 7 Selling 129

Grow or die 130

Do you want fries with that? 132

We are all in the business of sales 134

The four pillars of sales growth 135

Annuity building 137

Creating stickiness 139

Begin with a plan 142

Know your customer 143

Impulse and planned buyers 144

Obtaining advances 146

Eating the elephant 147

Objections are your friend 149

Measure your sales results 152

Standardize your sales system 155

Train and train again 158

Chapter 8 Operations 161

The purpose of the prototype(s) 164

Consider the possibilities with your prototype 165

Right-sizing the territory 167

Establishing your brand standards 169

Understanding the aspects of production 172

Writing your operations manual 174

Know your audience 175

Identify the working parts 176

Keeping current 178

Training your team 178

Keep the lines of communication open 180

A system for quality control audits 182

Create an evaluation form 183

Chapter 9 People 189

Terminal velocity and delegation 190

Hire the best talent you can afford 192

In-house vs. outsourcing 195

Systematizing culture 198

Define your cultural values 199

Focus on personality 200

Create a cultural system 201

Establishing accountability 203

Inspect what you expect 205

Don't be a fireman 208

Harnessing creativity with centralized control 212

Pull the weeds or they will overgrow your garden 215

Chapter 10 Contingency planning 217

Put your mask on first 218

Divining the future 219

If it ain't broke, break it 221

How long is your runway? 223

Question the status quo 225

Reducing risk with your multiplier model 226

Chapter 11 Hitting the gas 229

Knowing you are ready for the multiplier model 230

Let your goals drive your aggressiveness 232

Don't get run over by a freight train 233

Prepare for the end game from day one 235

You can only coast downhill 236

Choosing a growth vehicle 238

The role of franchising 240

A system for franchising 243

Sprint to the mountaintop 249

Appendix: Sample pre-opening checklist 251

Acknowledgments 265

About the author 269

Index 273