In an ever-changing marketplace, businesses often find that their current models no longer support their growth. Like many businesses, EOS Worldwide faced such a challenge, and in response, chose a franchising model to promote a cohesive brand through its growing community of EOS Implementers®.
EOS Worldwide Visionary Mark O’Donnell reflects on his experience stepping into his leadership role as the company transitioned to the new franchise model and how change management served as a key ingredient to success.
From his lessons learned, he offers three things for other business owners to consider when shifting their business model to a franchise model:
- Go slow.
Change is hard, and transitions require thorough preparation. Take time to understand every change and its implications.
- Work through the REDUCE framework.
Devised by Jonah Berger and shared in The Catalyst: How to Change Anyone’s Mind, REDUCE is a framework for removing five key barriers to change: Reactance, Endowment, Distance, Uncertainty, and Corroborating Evidence.
- Prioritize openness and honesty.
Open and honest communication was a critical element of our transition, but in hindsight, I see that being even more transparent would have helped facilitate a smoother transition. Legally some things must be withheld, but consider anything you’re not sharing with employees very carefully. Be as transparent as you can.
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