The Four Essential Attributes of a Successful Franchisee

I often get asked what the key attributes of a successful franchisee are. Let's be clear, attributes are different from skills. Let's look at four of the key attributes that I see in very successful franchisees.?

The first one is a growth mindset, a next-level growth mindset. The second is being intentional and purposeful. The third is resilience, and the fourth is a servant's heart.?

Embracing a Growth Mindset

Let's look at the first one, having a next-level growth mindset. Why is this so important? Because as a business owner, you're going to constantly encounter opportunities and challenges. You're going to constantly be evolving your business, and that requires growth and that requires learning. You need to focus on continuing to sharpen the saw, whether it's a success or a failure and ask yourself “What's the lesson within?” You really want to embrace a growth mindset and lifelong learning.?

The second is being intentional and purposeful. Intentional is about following your business plan. You have to develop the business plan through your research. But once you buy the franchise, you have to execute the plan, train and coach your people to execute their parts of the plan and utilize the franchisor's resources to coach you and to make sure you're optimizing all of that.?

Aligning Your Business Plan with Your Mission

But the other part of that is being purposeful. Purposeful, folks, is making sure that whatever your business plan is, it’s tied to your personal purpose; your mission. What do you want to achieve for yourself through business ownership? The most successful franchisees I've ever worked with are people who have absolute clarity about how their purpose is being fulfilled through running their business.?

Resilience and a Servant's Heart

The third attribute is resilience. Let's face it, business is not easy. There's going to be constant challenges and constant different elements. It's not all going to be “wins.” You have to be resilient. You have to ride that wave of opportunity and challenge, embrace it and be ready for whatever comes next. You need to learn from what happened, be ready for the next one and keep on going.?

The fourth is one near and dear to my heart, which is having a servant's heart. See if you're going to be successful in business, you have to be serving others with the intent of giving them the best experience that you can. That means understanding what the customer needs and wants, and then delivering that through your team. Your staff are your most important repeat customers, so you want to make sure you're looking after them and serving all the different elements. That's how you serve yourself, you serve others first. So having that servant's heart is a really important attribute.?

I look forward to working with you to explore how you can leverage your attributes and your skills. Let's start with a conversation. Click on the QR code.