Franchisor Book > Management and Operations > Ten Commandments

TEN COMMANDMENTS OF A  SUCCESSFUL BUSINESS

Jim Peterson, president of Bojangles' Restaurants, Inc., stipulates ten commandments of developing and running a successful business. These ten commandments include:

1. Leadership

2. Staying with the business one understands

3. Developing and maintaining a unique niche

4. Keeping first-hand touch with the customer

5. Relentless pursuit of management principles and fundamentals

6. Organization

7. Freedom from government intervention

8. Strong fiscal responsibility

9. Strategic development

10. Picking winners

 

One of the exciting aspects of the ten commandments is the principle of leadership. Peterson explains that a leader must develop four factors to provide successful direction to the business operation, including: 

(1) a strong sense of vision, 

(2) ability to articulate vision, 

(3) ability to develop an agenda to accomplish strategic vision, and 

(4) the self-confidence to make it all happen. The franchisor needs to be an individual who can convert information into knowledge and then from that knowledge create action.

Information  Knowledge  Action

This leader should able to keep in touch with customers to develop a strong headquarter's organization and to provide the strategic vision which will allow it all to work.