Ok so like everyone else in America I’ve got Super Bowl fever but beyond the big game what can we learn from these 2 great organizations. Great teams start with great organizations.
All good teams start with a great organization made up of a good plan for success, good capital structure, leadership at the top, and of course good players. While teams with a few of these things may obtain short term success it takes all of these items to build lasting success. That is why we continue to see these programs at the top each year.
The same is true in business. Think about the company’s who have been perennial winners and you will find that all of the same elements exist.
I have a theory that this is a big reason why so many independent small businesses fail. Think about this, in a small business you have to be the visionary, the banker, the coach and a top performer…my god this is really too much to ask of any one person. The statistics prove this theory out as more than 50% of small independent business fail within the first 2 years.
This is also why I believe that franchise businesses have such a big advantage to be successful over independent businesses. In a franchise business the franchisor develops the plans and systems, determines the capital structure, and champions the brand. The franchisee if properly matched will be the player on the field, a pro in his position charged with responsibility to execute the plan. See the similarities. The statistics also prove this theory out as franchise businesses are almost 3 times as likely to be successful over independent businesses in the same 2 year time frame.
One last point, while a good franchise concept and a well matched franchisee have a great chance at being very successful too often franchisees and franchisors get mismatched. This is like having a west coast offense offensive game plan with a drop back passer as quarterback. This never works and in franchising will not work as well.
This is why having an experienced independent franchise consultant involved is so critical. A skilled franchise consultant will take the time to dig deep into the skills, goals, and expectations of a candidate. In addition they will validate the franchise concepts to make sure that they fit the candidates profile. Unfortunately not all franchise company’s spend enough time with candidates and often times the candidates underestimate the complexities and skills necessary of owning a business. Once they get into it its too late. This is bad for the franchise company and can be devastating for the new franchisee.
Don’t short circuit the process, if you are a franchise company let a franchise consultant help you match with the right candidates for your concept. If you are looking for a franchise use MatchPro to help you develop a profile where you can be successful and then search for a concept that emulates that profile.