Leadership Matters: The Secret to Thriving in Your Franchise
Franchising is more than following a proven business model—it's about leadership. Franchise owners invest in the franchisor's operations manual, products, and brand. Additionally, you're leading a business that adds value to your community, and the success of your franchise depends heavily on your leadership as much as on the franchisor's support. John C. Maxwell ’s 1st Law of Leadership - Law of the Lid says that an organization grows to its leadership capabilities. When a franchise owner expands their abilities, franchise growth follows.
A 2012 study of the executive board of the Stanford Graduate School of Business Advisory Council revealed 72 of 75 respondents ranked self-awareness as the #1 trait for successful leadership. Self-awareness is broken down into:
- How a leader impacts others in each interaction.
- Understanding events out of a leader’s control are neither “good” nor “bad.” They are simply events that must be addressed with resources the leader does control.
- A leader recognizing and identifying their emotional response to a situation and the cause of the emotion.
- A leader’s understanding of personal factors that impact decision making. On average a person makes 30,000 decisions daily.
In my 23+ years owning a business in franchising and 11 years leading a group of dedicated firefighters, self-awareness is a skill to develop, study, and build daily. Three activities help:
1) Formal and informal feedback systems.
2) Self-reflection, meditation, self-talks - however you call it, review situations, conversations, and decisions to evaluate your impact on those you serve.
3) Deeply honest conversations with a non-biased trusted advisor. Yes, this borders on therapy, however the focus is on your business and your team.
Leadership is the Key
Franchise owners and franchisors must work as partners. Franchise partners bring local ownership, and franchisors provide systems and brand recognition. Both need leadership to thrive, which means having a growth mindset, servant perspective, and a vision for the future.
- Growth mindset: Leadership in franchising goes beyond the operations manual; it's constantly learning and teaching, aligning a team around a shared goal, and driving forward daily.
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- With servant leadership, both franchisors and franchise partners ensure their employees have the tools and resources to succeed.
- The franchise owner’s vision helps determine what strategic priorities are important and urgent today to get their team to the next level.
A Real-World Story
In “Your Guide to 90-Day Success,” one franchise owner exemplifies the power of leadership. Starting out, they faced many uncertainties - they didn’t know what they didn’t know.
This owner had self-imposed 10 goals to meet in 90 days. The shotgun approach had them running from issue to issue without focusing on 3 core priorities to get them to the next level: 1) local networking, 2) finding the right team, and 3) ensuring they learned from their friends and family soft-opening to prepare for a flawless community grand opening.
However, by focusing on their team’s training and implementing 3 strategic priorities, instead of 10, they saw immediate improvements. By the end of the first 90 days, they exceeded their initial goals, and established a solid foundation of leadership that guided them through future growth.
The book’s framework provides a detailed step-by-step guide for determining and implementing your 3 priorities, helping franchise partners build a solid foundation in their first 90 days.
Franchisor Leadership Matters
Choosing the right franchise means finding a franchisor with a strong leadership team that supports your journey. We vet every franchise brand to ensure our clients partner with brands that share this leadership philosophy. From day one, you're backed by a capable executive team that knows how to guide new franchise partners to success.
Ready to lead your franchise to success? Learn more strategies for early wins by ordering “Your Guide to 90-Day Success”—link in comments! Using our services goes beyond signing the franchise agreement; we ensure that you have the leadership tools to succeed long-term.
Not sure if the book is your next step? Please schedule a call to discuss how you can strengthen your leadership and build a successful franchise from day one—link in comments.
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Great read Luke, thanks for sharing your thoughts. I found that time inside a corporate environment gave me a lot of mixed signals when it came to developing a leadership style. Moving from that world to being a franchise owner I was able to sort out the good and the bad. I didn't do it perfectly, but I learned that my gut feelings were mostly right and the mistakes I made were not major and easily corrected.
Senior Managing Director
1 个月Luke Frey Very insightful. Thank you for sharing
Helping Entrepreneurs, Corporate Survivors, and Franchise Owners Create Lifestyle Freedom and Financial Security | Author | Franchise Partner Advocate
1 个月Are you ready to increase your leadership capacity for you and your franchise family? My book is available on Amazon https://www.amazon.com/dp/B0DFFGHNXF?ref_=pe_93986420_774957520! Shorten the learning curve for your franchise success, my book offers actionable insights and proven strategies.
Helping Entrepreneurs, Corporate Survivors, and Franchise Owners Create Lifestyle Freedom and Financial Security | Author | Franchise Partner Advocate
1 个月The greater the obstacle you overcome, the more confidence you earn. Click the calendar link and take the first step to create your generational wealth in franchising - https://calendly.com/bvea/20-minute-discovery.