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About eight years ago, I finally decided enough was enough – enough bureaucracyenough bureaucracy, enough so that I don't feel like my efforts match my professional success. As much as I was ready for a change and knew what I was getting away from, I wasn't sure what I was walking into. After all, there's a big gulf between corporate frustration and finding the confidence to venture into uncharted territory. I was confident in my abilities, but entrepreneurial imposter syndrome it's true – Sound familiar?
Fortunately, I was able to find my way to a career path that offered a model for success while maintaining entrepreneurial independence: franchising. Today, as a former franchise owner and current franchise consultant who has helped guide hundreds of individuals to franchising, I can attest to how the franchise model can alleviate entrepreneurial impostor syndrome and provide a fantastic path to professional independence. .
Let's break down three impostor syndrome uncertainty questions and explore how franchising offers a solution.
1. How do I know if I have the right skills to be an entrepreneur?
Fortunately, when going through the discovery process, franchisors are not necessarily looking for a one-size-fits-all individual. While it is important to be adaptable and willing to learn and grow, Franchises often supplement your already developed skill set.
First of all, it is important to take an honest introspective look at your experience to assess your abilities. Most professionals have one or two areas that they consider to be “weak spots”. Is it finance? Sales? Engineering? Admin? Other? Realizing that these holes exist in your professional repertoire can be disconcerting for an aspiring entrepreneur. However, the franchise model helps mitigate some of these concerns.
Let's consider management skills. Whether you are confident in your ability to manage people or absolutely hate managing people, there are franchise models that work for you. Brand choice is vital. In most cases, franchise owners do not have a large number of employees, but if you want to avoid managing employees, there are ways to do it.
Aversion to sales? B2C franchises that have repeat customer bases can be a good fit. (Consider a service brand like lawn care, in which the franchisor has a larger call center but your local franchisee performs the services.)
Once you've chosen a franchise brand that matches your skills, you're also immediately provided with an operations book—literally called an “operations manual” by the franchisor. This manual provides step-by-step instructions for running every aspect of your business and a model of how the business can be successful.
Through careful brand selection and information provided by a robust operations manual, exclusivity opens doors of opportunity that may match your skill set. Additionally, it may be worth working with a franchise consultant – a professional who helps candidates match their skill sets with the right business model.
2. Am I too young or too old to start my own business?
Ultimately, determining whether you are the “right” age. being a young business owner depends much more on you as an individual than your actual age.
If you're new, you probably haven't been as cross-functional because you simply don't have the experience of someone who's been in a corporate role for decades. Or maybe you've been doing the same job for so long that you're worried you'll need support when you shift gears.
Fortunately, the franchise offers a solution here as well: franchise networks.
One of the most useful resources for franchise ownership is the network of actual franchisees that exist within each brand. From day one as a new franchise owner, you will have access to other franchisees under the same brand who have experienced your exact situation. These peer groups become your trusted advisory board, sharing best practices and advice for every aspect of your business.
You can retire from business ownership in order to be in business for yourselfbut when you join a franchise network, you are not in business from myself. These experienced franchise owners are a better resource for you than the franchisor in many cases. You will be able to work with people who are in the same industry and provide the same service, but who are not competitors because you are in different geographic markets.
Related: It's never too late (or too early) to become an entrepreneur
3. Do I really have it in me to start from square one?
professional fatigue it is true. And I won't lie to you, starting a business is not for the faint of heart.
Either way, you'll have to work a lot ahead. But it's important to remember, when you work for yourself, you operate from a different mindset than when you work for someone else. It may be hard to see this right now, but if you're really ready for a change, you should ask yourself:
Is a level of discomfort required now to make a change more difficult than the constant risk of job loss, frustration in your role, or dissatisfaction I currently feel in my career?
If you are thinking franchise ownershipyou're never really starting from square one. The day you open your doors for business, your franchise will have professional branding and a recognizable market presence. When people interact with your brand, it inspires confidence to interact with a proven franchise model.
Related: Build confidence and overcome impostor syndrome by focusing on 3 areas
