Small business owners often fail because they focus on doing the work instead of building systems. Franchises win by having standardized processes and marketing ready to go. The ones that survive combine efficient systems with personalized local service.
My biggest opinion on small businesses staying ahead of the curve and innovative and ahead of their competition in a rapidly changing market, especially with AI and things like that, is very simple. It doesn't take a lot. Unfortunately, a lot of small business owners are practitioners, which means they are the ones doing the work. They're not there to own a small business. And if you look at the threatening small businesses, a lot of times they're franchises because you have a business owner with already set marketing coming into a business. They have set SOPs, they have processes, and it can be a big threat for a lot of businesses. Now, a lot of people will still go to the smaller guy for a more personalized experience. Experience. But if you really mesh the two, that's when you really create a winning formula and a winning small business, especially in a local market.
