2 min read

What's choking the life out of your business?

What's choking the life out of your business?

Do you ever feel like something just has a stranglehold choking the life out of your business?  

Listen to the FULL Podcast Episode here. 

Whether it's because you're so overwhelmed, feeling burnt out, and beyond knowing what to even do about it, or because you're feeling scarcity through the lack of revenues flowing in, or struggling to find employees to cover shifts. Those things can make you feel like something has a stranglehold on you and your business. As a franchisee sometimes the franchise structure can pose a higher risk of strangleholds on the business. That can go against what we're taught as franchising is meant to make business easier. You buy, you invest, and you get a proven model, which shortens the time to your success! That's the whole idea behind it but it also attracts people who are looking for that shortcut. While shortcuts are not necessarily a bad thing.

As business owners we should be working stronger and smarter than we are hard, right? So shortcuts are a good thing. But if we attract people who are looking for a shortcut, and we don't help educate them on what they need to bring to the table in what's required of them to take the shortcut, then we're not really giving them a chance to succeed. If you don't have the tools to properly take that shortcut, then you're not going to be successful. So how is it that this particular Stranglehold is more apt on franchises? Well, it's because it's fear. That's the stranglehold is fear. Now, stick with me here, because I'm going to show you how this plays out to actually start suffocating your business.

In this context, the "stranglehold" on franchisees is fear. Imagine fear as a plant with numerous vines. Initially, a vine may wrap around your torso, causing minor inconvenience. However, when the vine tightens around your neck, fear intensifies. You may consider finding a weapon to cut the vine or pull it off, but the sight of other threatening vines ready to strike makes you hesitant. Fear of the unknown prevents you from taking action, and your business suffers as a result.

Franchisees are particularly susceptible to this fear because they sought a safe and quick path to success. However, success in business is not solely determined by enthusiasm, coachability, or organizational skills. The ability to tolerate adversity plays a significant role. Those who can handle setbacks, rejections, and failed strategies are more likely to succeed. Unfortunately, many business owners become disheartened after a few failed attempts and lack the resources or stamina to try something new. They choose to remain under the radar, hoping to increase revenue before taking the next step. However, this approach is counterproductive because growth requires risk-taking.

It is essential to assess whether fear has a stranglehold on your business. Are your decisions driven by fear, focusing on what you want to avoid or what might go wrong? If so, fear is holding your business back. Understand that you are not alone in feeling burned out or losing passion for your business. There is hope and a way to overcome this situation by learning to navigate adversity and finding moments of sanity amidst the challenges.

Consider joining the Business Saturday Formula Masterclass, where you can learn the steps and order to take to extract yourself from day-to-day operations and achieve a work-life balance. This approach enabled the speaker, who owned multiple kickboxing locations, to reduce their working hours and even pursue other ventures. Despite the pandemic, they were able to sell their businesses quickly due to the value of a well-structured and desirable enterprise. The masterclass aims to help franchisees overcome fear and create businesses that thrive. 

Remember, building a business that allows for Sanity, Wealth, and GratitudeTM is possible. It's a matter of taking the right steps in the right order. Take an inventory of your adversity tolerance and realize that flying high requires risk. If you're feeling overwhelmed or struggling, reach out for support within the franchisee community (check out our Franchisee Tips & Tricks Facebook Community). By conquering fear, embracing abundance, and implementing effective strategies, you can achieve infinite success.

 

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