The One Question Everyone is Asking

by Rebecca Monet

I know you better than you know yourself. Underneath that tough exterior, there lies a tender underbelly. But none have seen it. Not your friends, colleagues or boss. Not your children in whose eyes you are a combination of superhero and ATM. Not even your adoring and balding husband. What?! But he’s seen me naked, you exclaim. No, he’s clueless too. How do I know? Because he’s sound asleep and snoring while you’re wide awake asking yourself:

“Do I have what it takes?”

You’re not alone. Everyone asks themselves that question. But rarely out loud. Even rarer, is getting an answer in advance of taking the leap into business ownership. Indeed many linger for years watching on the sidelines as others much less talented crossover from corporate minion to business owner. Oh, I’m not suggesting you are dawdling. Besides, how would I know that? Nor am I implying you lack confidence or ambition. I’m simply suggesting this one question has hindered countless individuals from achieving their dreams of business ownership. Granted not everyone has the ‘right stuff’ to be a franchisee but “ Do I Have What just as often the issue is in regards to ‘right fit’ instead. Two different it Takes? things. Both are important. I’ve spent 27 years in the psychometric assessment business specifically in franchising. I research, create and validate tools to determine if someone has what it takes to be a business owner and if so which franchise would be the right fit. I love data and being able to quanIn the past eight years, Zorakle Profiles has assessed more than 120,000 franchisees and prospective franchisees. That being said, let me provide an unbiased, science-based answer as to what it takes to be a successful franchisee. Then you can decide. nerd, but franchisors who care Top-performing franchisees exhibitabout the performance of their ed these three traits in spades over franchisees like having me around. their low performing counterparts.

Self-Control

Pop psychology suggests if we are self-aware − understand our emotions, strengths, weaknesses and drives − we will be happier and more successful. I can’t argue the happier part but I can tell you our research shows no such correlation to business success. In fact, low performing franchisees scored higher in self-awareness than top-performing franchisees, pointing to negative correlations.

Instead, top performers scored higher in self-control. Their ability to manage disruptive emotions and impulses effectively and remain calm in the face of the unexpected is what leads to success. This in turn confronts another false assumption, that one must understand something to control it. Top performers control their thoughts, tify and predict things. Call me a feelings, mouth, time and money. Top performers do not bow to their feelings. They take their thoughts captive. They zip it because gossip, criticism, whining and complaining are destructive acts of pride. Most importantly they are good at delaying gratification. Want to fail? Speak and spend like there’s no tomorrow. Want to succeed? Exert self-control.

Initiative

Low performing franchisees scored higher in self-confidence whereas top-performing franchisees scored higher in initiative. Seems odd right? How is it that someone with strong self-confidence would avoid taking initiative? Let’s look at the difference. Confidence by definition is courage that comes from certainty about our capabilities and goals. This doesn’t sound very confident or courageous to me. If one must be certain about something before taking action what kind of courage does that take?

Initiative, on the other hand, is the power at one’s own discretion to do something before others do. In other words, someone with initiative is not waiting until he is confident in his capabilities. Top-performing franchisees take initiative. They cut through the red tape. They mobilize themselves and others even when all the ducks are not in a row. So why does someone with strong self-confidence not take initiative? Because confidence does not mobilize it gloats. Want to fail? Continue to gather competencies and capabilities, take that seminar, read that book, hire a coach and whiteboard your ideas. Want to succeed? Get up. Get dressed. Go do it.

Humility

While we are on the topic of self-confidence and gloating let’s look at the role of humility in business success. Humility is the quality or state of not thinking you are better than other people. Hmmm, sounds like anti-gloating to me. Top performers outscored low performing franchisees in the trait of humility. Top performers treat people with respect. They are not easily offended. They don’t take credit for what others have done. They do not need to be right or insist on having their way. Pride is the enemy of success. We’ve heard ‘pride cometh before the fall’ a thousand different ways, yet we are a culture that is easily offended and applauds arrogance. Want to fail? Pretend you know it all, be easily offended and insist on being right. Want to succeed? Serve others, admit your mistakes and ask for help.

I trust this quick glimpse into three attributes of successful franchisees answers your question: do I have the right stuff?

Rebecca Monet is chief scientist and president of Zorakle Profiles. Zorakle Profiles is a franchise-specific solutions provider of psychometric assessments. Zorakle’s SpotOn! meta-analysis provides insight no singular profile, survey, algorithm or assessment can. Zorakle’s SpotOn! science determines franchisee-franchisor compatibility and predicts performance. Zorakle reduces recruitment and support costs while increasing franchisee validation and performance.