|
|
Like this article? PLEASE +1 it! |  |
|
Does a Lack of Self-Confidence Affect a Franchisee’s Success?
| Guest post by: Doug Schadle |
Article Overview: To own your own business or franchise, you need to have self-confidence. It affects how your job is done and how well your bottom-line does. Figure out the reason for your lack of self-confidence to target how exactly you can fix it.
 |
Free Download - Does a Lack of Self-Confidence Affect a Franchisee’s Success? By Doug Schadle |
Does a Lack of Self-Confidence Affect a Franchisee’s Success?
When you think about self-confidence, do you ever think that it might affect how you do your job? The answer is that it certainly does, and when you own a franchise, your self-confidence becomes all the more important. As I've said many times before, when you own a franchise, everything your business earns is coming from the hard work that YOU put in. If you have no confidence in your ability to be a good franchisee, you will personally see the money trickle in at a slower rate with no one else to blame.
Often times, a franchisee is new to not only the franchise industry, but the industry that specific franchise is in as well. These franchisees may be savvy business people looking for a change of pace and enter a world where they have no experience. Corporate America may prepare you for certain business aspects you will encounter in your franchise endeavors, but you will never be fully aware of how a franchise works until you have one of your own- but this doesn't mean you need to doubt yourself all the way.
The key to think about when you are worried about your self-confidence is determining where the lack of confidence is stemming from. Is it something you have always dealt with, or is it because of your new surroundings? If a lack of self-confidence is something you have always dealt with, you will have to work on it because that can truly affect how your business is run. It will affect how you make decisions and will make you second guess yourself until you can no longer make decisions in a timely matter and your new franchise's bottom line will be adversely affected.
If you are just nervous because of your new surroundings, you are in luck, because hopefully you have read my other articles and have chosen a franchise with a great network to help you grow. This network should include people on the corporate side, as well as other experienced franchisees to answer questions that can help you throughout the process.
Consider this quote from Elbert Hubbard: "The greatest mistake you can make in life is to be continually fearing you will make one."
Don't be afraid to go with your gut and make a tough call that has the chance to impact your business. With all the experience you have under your belt, you should be educated enough to make the right decision, so don't worry about branching out in a new direction. Self-confidence affects success - make sure you have it.
FRANCHISE - A PARTNERSHIP - YOU BET
Negotiating the Terms of Your Franchise Agreement
Explaining the Differences Between the UFOC and the FDD
Franchisee performance
Aid That Franchisors Provide to Franchisees
Article Tags: bottom line, business aspects, change of pace, corporate america, decisions, endeavors, franchise industry, franchisee, franchisees, job, lack of confidence, money, savvy business, self confidence, surroundings, timely matter, trickle
|
About the Author: Doug Schadle RSS for Doug's articles - Visit Doug's website Click here to visit Doug's website   Seven Questions to Ask when Starting a Franchise Be in Business for yourself but not by yourself How hiring a PR firm can produce business for franchises Rolling Over Your 401k without Penalty Recession Resistant Franchises |
Related Forum Posts
Top Four Young Entrepreneur Mistakes
- According to Youngmoney.com, these are the four most common mistakes made by young entrepreneurs:
1) Not enough networking
2) Not prepared for the work load
3) Lack of confidence
4) Afraid to ask family and friends for help
I would add to this list not getting started in the first place. But, if these are your problems, I would suggest checking out Keith Ferrazzi's Never Eat Alone, and Guy Kawasaki's The Art of the Start, both of which provide great tactics for getting to that next level.
Re: THE SECRET TO SUCCESS IS ALL IN YOUR HEAD...RIGHT NOW!!!
- Success = Thinking (Head) + Heart (Feeling / Interest) + Hand (doing/ action).
Success - H3
Robert
What Holds Women Back
- November's PROFIT Magazine has a summary of what the top Canadian entrepreneurs feel holds women back:
53% - Are unwilling to take the risks that come with growing a bigger business
45% - Don't want to sacrifice time with their families
44% - Have insufficient access to capital
42% - Don't "Dream big enough"
33% - Can't sacrifice time with their families
32% - Start companies with limited growth potential
29% - Have weaker business networks than men
27% - Lack the management experience / training needed to grow and run a large company
22% - Put lifestyle considerations (excluding family) ahead of business growth
What do you guys think?
Why A Project Fails?
- Hello Everyone
As the size and complexity of ones business grows, so does their need to effectively manage projects. I have been thinking about the major reasons why a project can go wrong and my limited experience comes up with the following.
1 Leadership: A project manager with leadership skills and not just management skills.
2 Failure to (Foresee and) Plan
3 Failure to Manage: Ineffective change management control methods. Unclear decision making guidelines.
4 Talent: Finding, allocating and developing people
5 Scope: Setting an overly ambitious or amibigious project scope
6 Alignment: When projects are not prioritized in alignment with the business strategy, or project members personal objectives are not in tandem with that of the project / company
7 Lack of Candor: Communication Breakdowns
I would be interested in knowing everyone's thoughts on this, especially on ways to overcome the above mentioned obstacles.
Cheers!
Re: Success
- I study success intently, and would like to share:
Here's two excellent and nearly identical success-formulas from a couple of the world's masters.
FIRST FORMULA:
1. Passionate Desire
2. Clear, Definite Purpose
3. Committed Decision
4. Take Action In Faith
(Bonus Secret Sauce: 5. Repeat Consistently)
I made a video about this, but am not allowed to link it yet. Google "Ryze Success Steps" for it.
Oh, and this is Napoleon Hill's (Master Of Success Laws)'s Formula.
SECOND FORMULA:
1. Passionate Desire
2. Understand It Is Already Done (Faith)
3. Relax & Allow It To Unfold (Go about your life calmly)
This one is courtesy of Abraham-Hicks (inspiration for the movie The Secret).
Hope that helps!
Share this article with your friends. Fund someone's dream.
Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.
by: 
4 Building Blocks of an Effective Talent Management System
Simon Fuller Quotes
Lesson #3: “Tell ‘em quick and tell ‘em often”
Searching for the Stars: How Yang and Filo Took Their Business to New Heights
Salesperson Wimp-Out: I Need Help 
Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.