HERE’S THE HARD TRUTH

Your Dream + Strong Leadership + Proper Capitalization + Action = Success.

By Kimberley J. Daly

Since 2020, I have noticed a shift in the need for information from almost every candidate I have worked with. This shift is stealing their dreams of business ownership. I believe that everyone who starts this process wants personal, professional, and financial freedom. It is disheartening to see so many walking away without a business.

Business ownership is not for everyone. The only way to know if business ownership is right for you is to invest time to explore and ask questions. I am not disappointed when people say no because I could never do my job with any integrity if that were the case. After two decades of experience in franchise consulting, I know when someone is really not ready versus when they are letting fear of the unknown steal their dreams.

The hard truth is that the world has not intrinsically changed since 2020. But what has changed is our sense of stability. On March 13, 2020, the U.S. shut down for the first time in our lifetime, and none of us knew what to expect. Our stability point was rocked that day.

While the pandemic is over, life has returned to normal, but our set point for stability has not yet returned to normal. Deep down, many people were so rocked by the pandemic that, just as with any other deep-seated fear, it is hard to let go and trust that all is well and will be well. To make matters worse, the media's focus on recession trends perpetuates this fear, uncertainty, and instability. These fears are not conscious thoughts, but because I work with so many people, I see a common pattern. I am writing about it because awareness is the first step to change.

Fear is a funny thing. We do not call it fear because no one wants to admit they are afraid. But here is how fear presents itself in the franchise investigation process:

● Needing more information to decide— information that even before 2020 was not available until after you said yes. Now people are walking away from their dreams without this information.

● Needing more time; time is the greatest enemy of our dreams. I am not advocating rushing, but I am serious about deciding and committing immediately after completing all the steps. The more time that passes between discovery day and your final answer, the more likely you are to say no. Not because the business is not right, but because time without action and commitment creates fear and doubt.

● Needing to create a perfect proforma and having knowledge of how sales will ramp before saying yes. While some of this data is possible to find before saying yes, a perfect proforma is too high of an expectation. Until you show up for your business and execute on what you have been trained to do, no one, and I mean no one, can tell you how your sales will ramp. This was true before 2020 and will be true forever. Right now, this seems to be tripping candidates up and stalling their ability to make a decision, which in fact is their decision.

There are other ways we disguise our fear in this process, and again, I am not judging or saying anyone is wrong for how they feel. But, if you want my help to say yes! to your business ownership dreams because you know that owning a business is the only way to true personal, professional, and financial freedom, then you must be willing to hear the hard truth. Suppose you have a strong reason and a clear vision for the future that you want to create, and you follow my guidance through a due diligence process that typically takes one to two months. In that process, you will find a leadership team that inspires you, people who have built something that you admire and want to build for yourself. If you can do that, you should feel confident in the face of uncertainty and pursue your dreams! Remember, nothing will ever be perfect, and you will never be able to know everything before saying yes. If you try to solve tomorrow's challenges with today's information, you will never take action. Instead, you should embrace the fact that you are going into business for yourself, but not by yourself. Relax, knowing that together with your franchise family, you can tackle whatever challenges come your way. This was true before 2020 and will be true forever. The only reason people fail at anything is that they quit when they start listening to their fear. The winning formula for franchise ownership success is:

Your dream + strong leadership + proper capitalization + action = Success w

Kimberley Daly is one of America’s top franchise consultants, a motivational speaker, business coach, and author. With over 22 years of experience as a small business owner and franchisee, she brings energy, wisdom and passion to her candidates as she helps them explore franchises matched to their background, interests and goals. She thrives on helping people achieve their dreams. She lives on the beach in southern New Hampshire and can be reached via kim@thedalycoach.com

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