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ex per t advice

David Banfield, President, The Interface Financial Group

Character Flaws = An Asset Entrepreneurs: Are they made or born, and do they make great franchisees?

A quick answer to the question might be a positive maybe – naturally much depends on how one defines a true entrepreneur.

The traditional silhouette of an intrepid

business owner is one who takes sizable

risks, is an inventor, an investor, a rebel and a lone fish or shark determined to do things differently. You only have to think of individuals such as Jobs, Zuckerberg and Branson to quickly see how the description fits. Reality, however, sets in when you apply such skills in the franchise world – a world that enables thousands of entrepreneurs to flourish every year - somehow franchise requirements and the skill set do not blend well. Franchisees exhibiting such backgrounds might well be doomed to failure. A good solid successful franchisee, therefore, may not be somebody that we would consider a traditional entrepreneur. Franchisees need to find and refine the characteristics that are often seen as flaws in the ‘regular’ business world. We think the following, often-unrecorded traits (not flaws) are what make a great franchisee.

1. Be a strong second fiddle While leadership qualities are admirable and desirable, the key to being a franchisee is the ability to work alongside the franchisor. In such instances, the headstrong leadership style of a traditional entrepreneur is a serious drawback. If you often find yourself thriving in support roles as a key member of the team, you should readily flourish as a franchisee. It’s time to see being a second fiddle as a strength.

“To succeed as a franchisee, you need to shake off typical entrepreneurial behaviour. Going it alone is not a requirement.” Franchising USA

Profile for CGB Publishing

FRANCHISING USA AUGUST 2019  

Franchising USA is a monthly consumer publication bringing you all the latest news, expert advice, and information from the world of franchi...

FRANCHISING USA AUGUST 2019  

Franchising USA is a monthly consumer publication bringing you all the latest news, expert advice, and information from the world of franchi...