We all know that there is some truth in the saying “tell me who your friends are, and I’ll tell you who you are.” Our circle of peers and friends has an influence and impact on how we act, what we do, why we do it, and how we do it.
Travel enthusiasts, for example, gravitate towards other people who love to travel, while entrepreneurs love to hang out with other like-minded entrepreneurs. Having peers who have similar interests can help make your life happy, comfortable, and meaningful.
But did you know that the importance of peers is not only evident and relevant in personal life? It also plays a significant role in business and in franchising.
The first piece in the Franchisee Wheel of Excellence
There is the so-called Franchisee Wheel of Excellence, a model designed and perfected by world-renowned franchise relationships guru Greg Nathan. This model depicts how franchisees, whether they are into food, retail, or service industry, can be superstars in what they do.
After rigorous studies, Nathan has identified five interlocking pieces that make up the whole Wheel. And this model has been very useful in guiding decisions, driving behavior, and providing focus so that franchisees can be excellent in their business.
The first piece in the Franchisee Wheel of Excellence is about peers and the importance and impact of having the right peers to be a successful franchisee. It is called “Build Supporters.”
The so-called supporters of a franchisee are his/her customers, staff, franchisor team, fellow franchisees, mentors, suppliers, trusted advisors, accountant, friends, and family. In building your supporters, you are choosing the right peers with whom your business is depending on.
Beyond that, you are constantly fulfilling commitments and building solid win-win relationships with your supporters so that your dynamics with them will be beneficial to all parties, especially to the success of your franchised business.
But beyond the business part, these supporters are also there to boost your morale. They will be your cheering squad or your team of mechanics who will roll up their sleeves and forget about the grease to help you become successful.
So, how can you build your supporters the right way?
Here are three tips to help you build your supporters.
1| Select those who are reliable
For your suppliers, staff, mentors, and other “technical” supporters, you must be able to choose only those who are reliable. Why? It’s because they are crucial to the smooth operations of your business. If they are unreliable, they can cause delays, problems, and loss of revenue.
2| Identify your sources of inspiration
Your “emotional” supporters are the ones who will boost your confidence, be there for you whenever you have problems, and celebrate with you whenever you achieve milestones. These can be your spouse, your family, your friends, your mentor, and other people who uplift your spirit and motivate you to work harder.
3| Have supporters who give you a sense of accountability
Your relationship with your supporters should also have a sense of give-and-take. It should be inspiring you to work hard not only for yourself but also for them. After all, we should be aiming for win-win relationships, especially when it comes to franchising.
The first-ever Franchisee Summit in the Philippines
Build Supporters is only one of the five interlocking pieces of the Franchisee Wheel of Excellence. If you would like to learn more about the four pieces—Engage with the Brand, Drive Growth, Maintain Personal Vitality, and Master What Matters)—you should join the first-ever Franchisee Summit happening on 23 February 2021.