Be a Successful Franchise Owner though Some Micro Changes

Successful Franchise Owner
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Franchising is a booming industry, but a large part of this community is mired in self-doubt that deters success. No franchisee wants to wash off their luck from making it profitable and a thriving business, which requires strong leadership, indomitable grit, and self-awareness. But the pain is when after a massive investment, a potentially successful franchise owner rolls back in self-doubt, wondering if they can make it big and profitable and overall become a part of the global franchise community.

Build your Support Network.

Assemble a support network of individuals who believe in your objective and have validated your abilities. Reflect on the talks that have bolstered your confidence or even call out to these folks when self-doubt creeps in. Keep in mind the accomplishments that brought you here and the extent to which you are willing to work to succeed in this role. Keep a notebook or even a note on your phone to record your WHY. Maintain a constant stream of positive affirmations! 

Don’t Expect to be Perfect.

Worrying about the consequences of a mistake might slow down entire processes and limit our growth potential. Analysis paralysis is a serious problem! You must analyze the ‘damage’ done by not being flawless. It is much easier to know if we made the appropriate decision to take action immediately rather than wait until we’re ready. If not, take notes and go on.

Another solution is to outsource tasks. This removes the hurdle of you pondering a situation and never acting – because others will act! And they are probably better at it. Finally, examine how taking early action motivates your team. Most people don’t expect perfection and don’t notice when something isn’t done perfectly. You’ll be surprised how much more you can do!

Set Time Limits and Restrict Out-of-Hours Communication.

A lack of boundaries can look like some fear around task delegation. You are proud of your response time and keeping your communication door ajar, giving access to all and sundry to reach out to you and eat up your hours. We’ve all erred by having unclear or absent limits. Remember that what you do as a leader models behavior and expectations for the entire company.

For example, having an open-door policy shows other team members that productivity is not a business value. This will mirror productivity and growth if you have “communication hours” each week and then perform the hard work to propel the firm ahead.

If you want to be a successful franchise owner, let go of your limiting self-belief. Since you’ve acknowledged them for what they are (not the reality), you will build imaginary mental barriers. But since you also know that there’s no going back, try to outgrow everything limiting you so far.