What to do if your company hits rock bottom
Stan Gordon the CEO of Franchised Food company tells his story of success. After hitting rock bottom in his pie shop business in Australia, that was successful in South Africa, Stan had lost hope and was unemployed for 4 years. He states that if it was not for the support he received from his wife and family he may have never made it through this tough time. He quotes “what doesn’t kill you makes you stronger” and as in life and business it’s not always easy and its does not always go your way.
Research and development is a must when starting a new business as Stan found out with when his Pie Shop fell apart when moving to Australia. After acquiring Mr Whippy and converting it to a successful state Stan begun to get his self confidence back that he had lost after losing his Pie shop business. It than snowballed from here when Stan bought Pretzel World and then Cold Rock and developed them into the profitable organisations they are today.
Stan now operates over 160 stores under the Franchised Food Company’s umbrella. To seek success resembling Stan he has suggested a view tips:
- Seek a strong work life balance. Your family will be your biggest asset; ensure you make time for them.
- Don’t be afraid to look back and celebrate your successes, however also make sure you are critical of where you could improve. Learn from your mistakes.
- Think outside the square and be prepared to take risks. Sometimes the most brilliant ideas come from the most obscure places.
- Don’t listen to doomsayers. Believe in yourself, your ability and your values.
- Keep moving. Someone will always be coming up behind you; make sure you stay ahead with innovative measures.
- Don’t be afraid to step outside your comfort zone and have a go. The biggest rewards are always waiting for those with the bravery to take a chance.
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