Scott Greenberg, creator of The Wealthy Franchise, believes that successful franchisees have common characteristics and methods. Drawing on the concepts of cognitive behavioral therapy, brain research, interviews with experts, and his own experience as a franchisee, Greenberg shares the mental habits, tactics, and bottom line of successful franchisees.
In the video above, he discusses the three primary aspects that determine the performance of any franchise.
1. External aspects
The first factor is anything circumstantial. All those external aspects which have a direct impact on what you do, akin to the economy, competition, weather – things that we have now no control over. Greenberg saw the identical set of circumstances lead one franchise to difficulties and others to success. What makes the difference is the flexibility to show around and solve problems versus blaming and falling by the wayside.
Related: 3 strategies we used to open 24 recent real estate franchises in only one 12 months
2. Operations
These are the tangible things that take up your time and keep you occupied. So it is your sales and marketing and your policies and procedures. It’s your unique recipes and unique approach to delivering services and products. How the operation is performed matters for achievement.
Related: Is a franchise best for you? Ask yourself these 9 questions to seek out out.
3. The human factor
It’s your ability to maintain a transparent mind, to bounce back when things get tough. It’s all those intrapersonal skills, but additionally your interpersonal skills, the way in which you interact with others. Every effort put into mastering the human side of your enterprise pays off in all areas.
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