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3 Critical Franchisee Skills
Written by: John R. Wilson, Sr.Article Overview: Whether you are a franchiser attempting to find the candidates that will be both profitable and a brand asset or you are a franchisee attempting to create a thriving new enterprise, without these 3 components you will be challenged every day in your business.
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3 Critical Franchisee Skills
I'm often confronted with people who have had relatives and friends who
had made attempts into business, some with a more entrepreneurial bent
into their own, independent business and others that became
franchisees. If I am presenting them with an opportunity in franchising
most invariably the acquaintance had a bad experience or was in the
midst of one. Typically after a long and protracted exposition on this
person's accomplishments, skills and education a question follows
relating to what happened.
I have no response about the person
because hearing someone's monologue about someone they know, like and
perhaps admire is never the whole story. What I will do with them is
provide them with components that I believe every business person must
possess in an attempt to get them to do a gut check to see if they have
these or have displayed them in the past. I will tell you without them
and you will have a challenge succeeding. Here they are:
Are you a decision-maker?:
I put candidates through a process sale and I make them follow each
step. I do this to determine A) Can they follow a system/instructions
and B) Will they come to conclusions about the homework they complete.
Can they make decisions. In small business decisions constantly need to
be made, and many times you don’t have the luxury of time to digest all
the information you would like in order to do it. You will have
employees and vendors who will look to you to be confident and timely
and provide the resources necessary to accomplish the objective set
forth in your decisions. Are you a decision maker or do you over-think
and procrastinate your way to nowhere?
Do you have learning and adaptation capacities and some basic business skills?:
There are so many skills critical to business success–sales, marketing,
accounting acumen, communication, delegation (NOT abdication) and
leadership come to mind. You must be able to execute a daily game plan
that translates into a monthly strategy and into a quarterly
development and then read what just happened. The ability to learn and
adapt is a trait some have and others simply do not. The franchise
system provides you with the 90% solution but there is always real life
and it requires your ability to adapt and use what you brought to the
table in order to create the right response. In the military you are
taught to start and finish a task by understanding the steps to the end
game. They are taught a code of conduct that establishes their
baseline, and on top of that they’re taught their military occupational
specialty, leadership development, and other skills that they can lean
on in business. Hopefully in your business background you had similar
experience. If so, a franchise or small business ownership situation
will tax that training, skills and learned responses.
Do you persevere or procrastinate?:
Every business owner should realize that between successes and
accolades there are dark days. Much of this foreboding occurs right at
the outset, when you are a brand new franchisee. Do you have the mental
toughness to stick it out? Are you a complainer? If so, do NOT become a
franchisee. Just don't. Stop now. I mean it. You need to see the
situation for what it is; a current condition that has solutions and
you must determine you, your resources, skills and presence of mind are
bigger than the situation and you will do what it takes to succeed.
Look
if owning a business was an easy decision to make, everyone would do
it, but being the boss isn’t for the faint of heart. Frankly, most
people never get out of the blocks because they want life laid out for
them and somehow they feel paying a fee means someone will just turn on
a cash machine for their paltry efforts. I hope this isn't you.
A
veteran franchisee understands that a firm and focused desire to
succeed is critical to any operation. This means defining the goal and
the primary milestones or objectives in accomplishing that goal–and
learning to keep your focus as you continue to strive for that goal
even when you face unforeseen obstacles or impediments.
There
are many great franchises out there. Some have amazingly well put
together strategies, training, and business systems. But businesses are
driven by people with vision, skills, perseverance and determination.
Is that you? If it is then get on board, daylight is wasting!
Franchisees and The 90 Day Window
The importance of Good Training for Franchisees and Franchisors
Franchisee/Franchisor Relationship Requires Mutual Trust, Respect
The franchise sale
Make the Most of the Franchisee/Franchisor Relationship
Article Tags: abdication, acquaintance, acumen, adaptation, bad experience, business decisions, business person, business skills, business success, conclusions, decision maker, delegation, exposition, franchisees, gut check, independent business, midst, monologue, rsquo, sales marketing
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- Dear BigJim 22
Sure as long as it is in the Franchise agreement... ie wht you are offering as Francisor and what their obligations are as Franchisee
It is all in the agreement........
take care
Ian
Napoleon on Project Management
- Why do I include this in a list of books aimed at female entrepreneurs? Well...in the expectation that there are as many female history buffs as male ones, and in the belief that anyone interested in history will find this book fascinating, while those interested in project management will learn a thing or two.
I think this was the first "gimmick" book - an author using a historical figure (usually a male, military figure, it must be admitted) to talk about modern day business management. I refuse to read any of the kind that advocates - even obliquely - the techniques of the Sopranos or the Mossad - but these military ones are pretty fun.
Anyway:
Only in the understanding of history, Napoleon might say, do we gain an understanding of strategy in the present. In the same spirit, Napoleon on Project Management offers the recipe for successfully managing your commitments using the strategies, tactics and priorities that propelled Napoleon himself to victory. [The book doesn't gloss over how Napolean eventually fell in defeat, of course, and there's lessons to be learned there as well.
TOC
Foreword by Douglas James Allan (Napoleanic Society of America)
1. The Rise to Power
-The Skills to Succeed
-A Compelling Vision
-Diplomacy and Networking
-Lessons from the Great Campaigns
2. Napoleon's 6 Winning Principles
-Introduction
-Exactitude
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3. The Downfall
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-Napoleon's Legacy
Re: Five Personality Traits of Successful Business Owners
- 1. Focus
2. Ability to Adapt
3. Hard Work
4. Good planning
5. People Skills
Re: Books for Business Owners
- Hi DougSchadle,
Thanks for sharing your favorite business book with us!
A good book I'm reading now is "Maximum Achievement: Strategies and Skills That Will Unlock Your Hidden Powers to Succeed" by Brian Tracy as it was a birthday gift from a friend. Tracy's book is helpful in identifying what's important in your life and then setting an action plan to achieve it.
Re: How To Become An Angel Investor
- To become an angel investor you need to have enough money to invest in business ventures and have experience that could add value to the venture you invest in....
Skills & Experience:-
You should have business and management experience and contacts in your area of expertise.
With your business experience you are more likely to be able to make a sensible judgment about whether the company seeking money is likely to succeed.
You will also be able to contribute more to the management of the company.
If your business experience is limited , the most sensible option would be to seek to invest alongside people who are experienced , in a syndicate......................
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