“So, what business are you really in?”
When I pose this question during my franchise presentations, many answer in terms of their products. “We’re in the ice cream business,” or, “We sell pizza.” Invariably a more sophisticated owner chimes in with, “We’re in the people business,” making the point that it’s not just about the food, but about the people they’re serving.
This answer is better, but still not adequate. Lots of people say they’re in the “people business.” But what does that really mean?
Humans are distinguished by emotion. Unlike a network of computers, a marketplace of people is directly impacted by how those people feel about things. Because feelings impact behavior. They also impact performance.
Franchise Business Review recently brought me in to lead a discussion of franchise executives. When I asked where their franchisees are most…
