By Jane Shobe, Franchisee of Expedia Cruises in Laguna Niguel, California. A previous Executive Assistant, Jane made a career leap to pursue her passion for travel, and has built a thriving business in the industry. Starting as a Luxury Cruise & Vacation Planner, she developed her skillset in customer service and travel planning, eventually becoming the owner of Expedia Cruises in Laguna Niguel.
Starting a business is an exciting experience, filled with endless opportunities and possibilities. From designing your store’s layout to planning your grand opening, every decision feels like a step toward realizing a dream. However, reality can quickly set in. Sales may slow, bills pile up, and doubt creeps in – leading many entrepreneurs to question whether their business can truly succeed in the long run.
It is natural for both new and seasoned franchisees to experience fear, anxiety, or uncertainty along the way. The good news is that fear does not have to control your future. There are actionable strategies to guide you through tough moments, and with the right mindset, you can turn self-doubt into a driving force for success. Here are four key pieces of advice to help you conquer your fears and stay on the path toward profitability.
Transparency is Key
From the moment you start your business, transparency should become a core value in your day-to-day operations. Transparency is not just about sharing information; it is all about setting clear expectations and ensuring everyone on your team understands the goals and what is required to achieve them. Being upfront and direct about performance expectations, compensation details, and even the challenges your franchise faces is crucial for building trust within your team.
When employees know where they stand and feel included in the decision-making process, it promotes a culture of collaboration and accountability. Transparency allows you to address potential issues before they become larger problems, ensuring the business stays on track. When your employees feel confident and secure in their roles, they are more likely to contribute positively to the franchise’s success. This kind of environment also encourages open communication, which can help reduce any anxiety around performance and build a sense of alignment across the business.
Prioritize Consistent Advertising and Recruiting
Attracting new clients and building a reliable team are two essential components for long-term success in any business, regardless of industry. One of the biggest mistakes you can make as a franchisee is assuming that once you have established a customer base or built your team, you can take a break. Consistent advertising and recruiting efforts are critical to ensure that your business keeps growing and evolving.
You need to stay visible and active in your outreach to attract both customers and employees. For example, wearing your company’s branded apparel can spark conversations with potential clients and team members wherever you go. This simple tactic helps you remain top of mind and build a network of people who are interested in what your franchise has to offer.
Regularly dedicating time and resources to marketing and recruiting encourages continuous growth for your franchise. It prevents stagnation and helps ease any fear that may arise when business growth slows. Whether through digital marketing, networking events, or word-of-mouth referrals, staying consistent in advertising and recruiting will help your business continue to move forward.
Keep Up with New Technology
Given the abundance of options available to consumers, businesses must always look for ways to improve operations through technology. This is especially true for franchisees, who need to embrace new tools and technologies that streamline operations, enhance the customer experience, ensure consistency across locations, and provide a competitive edge in their industry.
For example, using digital platforms to host seminars or share insights can help you reach a broader audience and engage potential clients in meaningful ways. These resources also allow you to optimize internal operations, from managing bookings and analyzing sales data to improving communication with your team. By adopting new technology, you can free up valuable time to focus on growing your franchise, rather than getting bogged down in administrative tasks.
It is common to feel hesitant about new technology, especially when it is initially introduced, but you need to view these advancements as opportunities. By staying open to learning and adapting, you can leverage technology to drive creativity, connectivity, and innovation in your business.
Find Your Balance
Being a franchisee can be demanding, and it is easy to fall into the trap of working around the clock to avoid failure. However, taking time for yourself is essential to avoid burnout and stay committed to the long-term success of your business. Finding a sustainable work-life balance will not only help you recharge but also improve your decision-making and ability to focus when you are on the clock.
Whether this means setting aside personal time for family, hobbies, or self-care, taking regular breaks ensures that you return to your business with a refreshed mindset. A well-rested franchisee is a more effective leader, able to tackle challenges with a clearer perspective and more creativity. Without this balance, you can lose sight of why you got into franchising in the first place and risk burning out before reaching your goals.
Remember that business success is a marathon, not a sprint. By incorporating personal time into your schedule, you will maintain your energy and avoid exhaustion, ultimately fostering a sustainable dedication to your business through the ups and downs.
The fear of business failure is something that every entrepreneur faces at one point or another. However, it does not have to be a roadblock. By embracing transparency, staying consistent with advertising and recruiting, leveraging new technology, and prioritizing work-life balance, you can turn your fear into motivation for long-term growth.