Franchise Opportunity Guide - what is required when you are looking for a successful franchise business
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Franchise Opportunity - Personal qualities required for franchise success

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Outstanding success in your chosen franchise opportunity is dependent on many different factors. For some people, it just happens. They're in the right place at the right time, they do nothing special, and everything just falls into place for them. Others put in long hours and much work, only to find average success in their franchised business.

Continuing with the theme of how to maximize your potential this year, I thought I would help you gain a clear understanding of just some of the personal traits, characteristics and success principles that can help move you towards your goals faster and what to look for with all the franchise opportunities available these days.

1. Know What You Want

Know yourself and exactly what you want and expect out of your franchise business. So many people enter into business and spend years in that business environment without having any idea of what they want, or even what is possible to achieve from their franchise.

In fact, most business owners are working so hard in their franchise, that they don't have time to work on other business opportunities. As a result, the business owner becomes a slave working for their business rather than their business working for them.

Take the time to carefully assess where you are now, and what you want to accomplish in your business. Then begin to set some meaningful goals to help you accomplish your objectives. You see, if you don't know where you want to go, you'll have no idea of what to do in order to get there.

Franchise Opportunity Meaningful goals are an essential requirement for success in a franchise. With goals, you have a target to aim for, a purpose for being, and a direction to travel. Without goals, it's easy to wander aimlessly, getting sidetracked with any little thing that comes along.

Your goals should be SMART goals. That is, your goals should be:


It is important for your goals to be Specific, so you will know exactly what you're shooting for. Your goal should be clearly defined and identified so you not only know what you are trying to accomplish, you'll also know when you achieve it.

Your goals should also be Measurable. That is, there should be a system, or method of determining how you are progressing in your efforts. It's important for you to be able to see your current status, as well as progression towards your goals.

Next, your goals should be Achievable. If your goal is set too high it won't take long for you to become discouraged, and you will either lose concentration and the drive necessary to pursue your goal, or you will abandon it altogether.

Now when it comes to setting goals you need to make sure your goals are not only achievable, but are also...

Realistic. If your goal isn't realistic, that is, if it's not something within your realm of achievement, it's just a matter of time before you'll become frustrated and give up. And that can have a negative effect on you as you begin to think of yourself as a failure, or not being good at setting and achieving your goals.

The key to being good at setting and achieving goals, is to be realistic in your expectations.

Your next step is to make your goals, Time bound. All the previous steps won't serve you well if you do not put a deadline or a time frame to your goals. This helps you keep on target, not be distracted, and encourages you to complete something you've started.

2. The Ability to Focus

Many people hesitate going into a franchised business because they think they lack the talents and abilities necessary to succeed. They look at others who are successful and think that they must have unique talents or capabilities.

A successful person is one who has developed the ability to focus and maintain that focus on clearly identified and specific goals.

3. Determine the Price You'll Pay

You must determine the price you are willing to pay to be successful in your franchise opportunity. For everything in life, there is a price. In many instances, it takes sacrifice. If you want to reap great rewards in your business, you're going to have to do some not-so-glamorous things at some not-so-convenient times. It's this simple, successful people are simply willing to do what the unsuccessful people are not.

That may mean, depending on the type of business you have, that you'll have to step out of your comfort zone often in order to get the results you want.

If you are just starting out in your franchise opportunity, or want to increase your existing business or achieve some new goals, you may have to make some sacrifices. If you are not willing to make the necessary sacrifices, then you can't expect to be as successful in your franchise opportunity as someone who is willing to make those sacrifices.

4. Self Responsibility

You are totally responsible for the success in your franchise opportunity. There are no excuses. There may be set backs or economic down turns, or problems that affect your business. Your franchisor may implement things you don't like, peers within the network may irritate you, and the direction of the business may turn a corner in the opposite direction you were hoping for.

Economies change, corporate policies change, and prospects don't buy from you, and the weather is too hot or too cold. While those things definitely have an impact on you, the way you do business and the sales you make, it is important to realise that regardless it is up to you, and you alone, to accept responsibility for the success of your business and do what it takes to make it a success.

No matter how bad you might have it, no matter what difficulties or challenges you might encounter, let me assure you that there are many people who have had difficulties and challenges far greater than any you are ever likely to encounter, and somehow, they manage to pull through. Responsibility should sit on no one else's shoulders but yours!

5. Be Committed

Make a total commitment to the success in your franchise. Once you have made the decision to be in business, then be committed to that franchise. Get into it with both feet. Don't let anything hold you back.

I have found there are two types of business people: Those who are interested in success, and those who are committed. Those who are interested will do whatever is convenient to them. Those who are committed to their success will do whatever it takes.

Make a commitment that you are going to succeed, no matter what.

Franchise Success

6. The Extra Mile

You must be willing to go the extra mile in your franchise. It's the "Under promise, over deliver" concept. When you go the extra mile for your customers or clients, you've just set the stage for future success. The old terms "normal" service, or "adequate" service or even "good" service, just won't do anymore. Everyone else is doing that too. BE OUTSTANDING! Go the extra mile for your clients. You'll be amazed at the result you get.

7. Control Your Time

Success requires you to be a master of your workday and take control of your time. Time is an expendable commodity. Each one of us has the same 24 hours in each day. When those hours are gone, they cannot be replaced. They are gone forever, never to be recaptured. You must treat your time as precious, and guard it wisely and selfishly. Don't let anyone disrupt you or take you away from the focus you have on your goals. If you are serious about business success – really serious, then this is one of the most important and critical areas to defend.

8. Persistence and Determination

Successful people are determined and persist through even the toughest of times. From time to time you will encounter set backs or reach plateaus where it seems like nothing is going right in your franchise. Your competitors lower prices, run massive ad campaigns and your customers and clients begin doing business with them. Business is walking out the back door faster than it's coming in the front door. Your volume is beginning to drop, and you become concerned. You seem to be spending more time in a defensive posture than you do in servicing your existing customers, and you're losing.

Now is not the time to give up. Now is the time to dig in and begin to play offensively. To be determined not to lose your good customers – the ones you worked so hard to get. Your strategy should be to keep in touch with them and continue providing exceptional service. Nearly every business is cyclical. Eventually things will change. While you can't be competitive on price all the time, you can be competitive on the service you give, the value you provide and the empathy you have for your customers and their challenges. More importantly, no matter what, never, never, never give up!

Time to Take Action

Now, knowledge is all but useless unless it's applied. Well now it's time to review what you have just read and implement it into your every day:

Business Success

Check out the next franchise article, Buying A Franchise.

Article by Tania Allen. Tania is the Franchisee Recruitment Manager at The Wheel Man™
Feel free to contact Tania on 1300 933 299 or tania@thewheelman.com.au

The Wheelman™ is a mobile wheel repair business offering exciting franchise opportunities to people who are interested in success.

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Rob - JustWeb

27.06.2010


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