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BUSINESS COACHING – THE BEST OPPORTUNITY

Business Coaching Planning

About Business Coaching. Business, career, life or executive coach has become a very commonly used title for those who believe in helping others achieve their goals. Fifteen-plus years ago, you might have had to explain the difference between a coach and a consultant. Today, almost every consultant may call himself/herself a coach.

The term coaching and consulting are being used synonymously. There are differences still.

  • A coach asks the right questions. A consultant gives you the answers.
  • A coach works with you so you can be accountable to strategize, plan and execute. A consultant analyzes, diagnose your situation and provides you with the solution.
  • A coach listens and help you seek your answers – how badly do you want it? How are you going to commit to your goals? What’s important and why? Etc. A consultant tells you the answers- based on historical data, past successes, successful strategies and more.

Those are some of the differences. Whether you are a consultant or a coach – both services are very much needed. Sometimes you just need to hear the answers from someone else, based on their knowledge and experience. Other times you will need to do some soul searching in order to own the solution.

If you are serious about diving into business coaching, there are several established proven successful systems which you can launch quickly. If you are looking for proof of concept, excellent support and established names, consider looking into business coaching franchises.

Why a franchise, you may ask?

Easy. Great franchise systems in this invisible (versus a brick and mortar concept) service provide the pre-training, training, culture immersion as well as will teach you how to attract and onboard clients. And yes, you do ‘pay’ for all that you get – from exceptional support, coaching, mentoring, brand marketing and continuously learning. 

You will never have to build your business alone, unless of course, that is your preference. You will own a business for yourself, just not be by yourself. There is an abundance of legendary support in areas of marketing sales and personal and professional development for you, the business owner. How would you convince another business owner that he/she needs a coach, when you don’t believe in having one for your business and yourself?

Here are 5 things you can identity in the Best Business Coaching franchises:

  1. RECOGNIZABLE NAME. This Business Coaching industry is very crowded today, as compared to 15 years ago. You want to be part of a team whose brand is still recognizable even after 10-plus years. International brand recognition may play an important part in your decision. It means that the established business coaching teachings and systems work because of successful applications within different cultures and languages.
  2. STRENGTH IN NUMBERS. There is attrition in any industry. The question is whether the concept survived the tumultuous growth in the first five, then the next five years after that? Did the players grow their businesses over time? How far has the brand been able to establish itself over the years? 
  3. KAIZEN. Are the business systems and support continuously improving? Does the franchisor(zor) learn from its franchisees(zees)? Does the zor enable its zees to improve the systems, growing from within? A strong organization of coaches thrives when learning, teaching and mentoring occurs on the inside. It also means that it survived the this is “all about me being successful” phase.
  4. TOGETHERNESS = ABUNDANCE. How often do learning and sharing together take place? Regular conferences improve and encourage exchanging ideas, making the system work, sharing new developments and building camaraderie. Regional, national and global conferences enable face-to-face gathering of great minds and ideas. There is no shortage of those wanting to teach and those wanting to learn. More often, than not, they are one and the same.
  5. SUCCESS IS MADE FOR EVERYONE. NOT EVERYONE SUCCEEDS. You are about to invest your hard-earned money into a system – why not INVEST YOUR TIME FIRST! Go through the zors’ qualification all the way to discovery day. The best is always saved for last.  The journey to your decision could take anywhere from 10 to 30 hours – depending on how much information you need. Invest your time to learn and ask questions, before you invest your money.

Remember that every zee who has ‘bought’ into a concept has the same access to training, tools, strategies, success game plan and more. Yet, not all will succeed. 

You need to decide where you see yourself in that scale to success. Commit! Put your mind to it and just go with it. Don’t look back. This is it. How determined are you to make it work?

There are proven-results coaching franchises available. You will find one that suits your style, personality, goals, aligned with your values and of course, within your investment range. Talk to an entrepreneurial franchise or license consultant). One who has experience in franchise/license ownership. Your right adviser puts you, your goals and your needs first – to give the best options and advice.

There is congruence in the process when you take this approach.

The best people to advise and guide you about what and which business, are the ones who have put their family, money, blood, sweat and tears into business ownership…

Why not listen?

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Franchising: What’s in the Box?

fear of franchising

What’s in THE Box? Before you think outside the box, remember rule number 1 in franchising is: know what’s in the box FIRST.

A franchise business is a proven concept which can be replicated. If you are not one who can follow systems or want to be the originator of a business concept, then a franchise may not be right for you.  If you can immerse yourself in a successful system and follow through,  then the franchising industry is worth considering.

All franchises are associated with costs and fees. What makes sense about franchising is that your total investment, ongoing costs are disclosed upfront.  On the contrary, starting a business on your own may seem like there are no huge costs upfront (of which you are aware).

We assume what we don’t know and fear the unknown. You are not alone.

What’s in the Franchising Box?

  1. SYSTEM:  A franchise model is birthed when at least one unit model has proven profitable. Of course, not all business expansion can be accomplished through franchising.  A franchise business must have a well-documented system for repeating success and all the required bells and whistles. The franchisor has made all the mistakes.  Systematizing only what works through franchising, so you the franchisee, can have access to systems to implement.  You can hit the ground running.franchising box
  2. SUPPORT: Franchising is also about support. You’re not alone.  You are in business for yourself just not by yourself. You’ll have platforms, support teams and peers to bounce off ideas and strategies.
  3. INTER-DEPENDENCE: The zee-zor relationship is about inter-dependence. You want to be successful and profitable. The Franchisor shares the same business goals.  Working together, following the systems, adding strategies as you grow are the key ingredients to a successful recognizable brand.
  4. CONTINUOUS LEARNING: Ongoing education, regional, national or international conference will keep you excited and motivated. Surround yourself with successful zees. Remember to participate, learn, give back, lead and follow.  There is always something new or different to learn – no one, not even you, knows everything.
  5. MULTI-PRONG MARKETING: Successful franchise brands recognize the need for local as well as domestic and global branding. Local exposure is the reason YOU are there. Then there’s national and some cases, international branding, where the franchisor actively promotes the brand.  Local exposure helps you and the brand, national/international exposure helps the brand and you. Therefore, your local marketing will benefit you and help with increasing  national brand recognition.

If you have the chutzpah and wherewithal to start a business on your own, versus considering a proven concept, go for it. That’s how successful brands get started.  If you prefer to hit the ground running, be in business for yourself and NOT by yourself, then take time to consider the franchised  or licensed business route.

One More Thought on Franchising

All franchisees have access to the same systems and yet, some are more successful than others. Remember, it is your business. You get to decide success by focusing on implementing the systems. Make the business work. Use all the resources available. Access to franchisor support and peer-to-peer franchisees collaboration are great ingredients for business successTherein lies your investment.

Still in doubt? Then invest time to speak with a Professional Franchise Recruitment Consultant who can provide you with intelligent and educated information. The right professional can help you determine if you are mentally and financially ready to be your own boss.

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Fear-Busters: Overcoming Fear of Franchise Ownership

Franchise Fear-Busters

Franchise fear-busters knowledge is aimed at identifying the real strengths and challenges in franchising.  The goal is to  help you achieve your business ownership goals, possibly with a franchise or license type business.

If  you are turned off with the words ‘franchise’ or ‘franchising’ then think again. A franchise is a business. The main difference is a franchised business has proven successful. The business  comes with a replicable system. Depending on the growth stage of brand, you can either be a pioneer or the plug-and-play type franchisee.

Why you want these fear-busters

In this line of work, we have heard your (prospects) non-verbalized responses.  We catch your negative implications, hear the barriers raised and the ‘no-way-not-today-or-ever’ inflections in your voices.  The fear of starting a franchise as a path to business ownership is, more often than not, the result of a lack of understanding.

Being a franchisee means starting a business with an upfront investment plus ongoing fees.  Franchise agreements are also typically one-sided. Then there’s the performance clauses and renewal requirements whether the business remains yours ‘forever’.  You’ve built the local business from the ground up, you’ve established the connections and it’s still not fully technically yours. As a result, the perception of owning a franchise becomes scary and confusing .  In reality a franchise business model is designed for the franchisee to repeat the success.  The franchisor is rooting for you to expand the brand successfully. No one goes into a business to fail.

You will encounter these fear-busters in the next few blogs coming your way.  Our hope is that you will use these #FranchiseFearBusters to overcome your fear of franchise ownership.  Only then can you make educated decisions which can help transform your life.

You owe it to yourself to get proper information, gain real knowledge so you can make a well-informed decision.

About the Author of the Franchise Fear-Busters series:

Jackie Coan is an advocate of the franchise industry.  She is active in franchising for 20+ years. Experienced as franchisee and franchisor, she understands what it takes for each role to be successful. Together with her husband Pat and the team of Professional Franchise Recruitment Consultants, they continue to help executives transition to business ownership. She firmly believes that you can be successful with the right opportunity and participate in building vibrant business communities.  You can reach Jackie at jackie@ireglobal.com

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Being in Business for Yourself…

Being in Business for Yourself

And not be by yourself!

These are the Terrible Three which Strike Fear in the Hearts of Prospective Entrepreneurs:

SALES………Direct Selling……….Franchise

WOW!  We cannot even begin to count the number of candidates we have talked with that their immediate reaction involves at least one of the three.

While all of the three are legitimate concepts, lets focus on on franchising.  Most individuals looking to own a business face the decision of “Do I be part of a Franchise system or do it myself”.  We suggest that our candidates look at both options and decide which is the best option for their individual situation.  Here are some of the benefits that a Franchise offers.  If you can match these on your own, the best to launch your business on your own.

  1. You immediately have a partner in the Franchisor as well as all the Franchisees. Information is free flowing and at your fingertips.
  2. Franchise experts are readily available to train you. Whether it is the Franchisor or one of the many Franchise associations.
  3. You instantly have a Brand that is fully developed and perhaps recognized by many.
  4. Access to technology that is already developed and adapted to your opportunity.
  5. Data has proven that your success is much, much higher than doing tit yourself.
  6. Start up and revenue generation is much sooner than personally developing all the systems, marketing, sales processes, etc.
  7. Business ownership can be a lonely world. You don’t have to go it alone as the Franchisor is only as successful as you are.  They are positioned to help you succeed.

Think about it.  If you are thinking about going into business, you owe it to yourself and your family to check all the options.

Blog from the desk of Pat Coan – Business Leader and Entrepreneur