Mitigate your entrepreneurial imposter syndrome with franchising

About eight years ago, I finally decided that enough was enough – enough of the bureaucracy, enough of the bureaucracy, enough of my efforts not being matched by skilled success. Even though I used to be ready for a change and knew what I can be running away from, I wasn’t sure what I used to be heading towards. After all, there’s a big gap between corporate frustration and finding the confidence to enterprise into uncharted territory. I used to be confident in my abilities, but entrepreneurial imposter syndrome is real. Sound familiar?

Fortunately, I used to be capable of find a profession path that provided a template for success while maintaining entrepreneurial independence: franchising. Today, as a former franchise owner and current franchise consultant who has helped steer a whole bunch of individuals to franchising, I can attest to how the franchise model can alleviate entrepreneurial imposter syndrome and provide a incredible path to profession independence.

Let’s consider three questions about the insecurity associated with imposter syndrome and explore how a franchise offers a solution.

1. How do I know if I have the right skills to develop into an entrepreneur?

Fortunately, franchisors aren’t necessarily looking for a one-size-fits-all during the discovery process. While it is important that you just’re adaptable and willing to learn and grow, franchising often complements your already developed skill set.

Above all, it is essential to take an honest and introspective look at your own experiences to judge your abilities. Most professionals have an area or two that they consider “weak spots.” Is it finance? Turnover? Engineering? Administrator? Other? Realizing that such gaps exist in your skilled repertoire might be unsettling for a budding entrepreneur. However, the franchise model helps alleviate some of those concerns.

Let’s consider managerial skills. Whether you are confident in your people management skills or you absolutely hate managing people, there are franchise models that may work for you. The selection of name is crucial. In most cases, franchise owners do not employ a large variety of employees, but if you wish to avoid worker management, there are ways to do it.

Reluctance to sell? B2C franchises that have regular customer bases could also be a good solution. (Consider a service brand, akin to lawn care, where the franchisor has a larger call center but the service is provided by a local franchise.)

Once you’ve got chosen a franchise brand that suits your skills, you will immediately receive an operations manual – literally called an “operations manual” – from the franchisor. This guide provides step-by-step instructions for running every aspect of your business and a template for how your business can succeed.

With careful brand selection and information provided in a solid owner’s manual, franchising opens doors to opportunities that will suit your skills. Additionally, it is value establishing cooperation with a franchise consultant – a skilled who helps candidates match their skills to the appropriate business model.

2. Am I too young or too old to begin my very own business?

Ultimately, determining whether you are the “right” age to begin a latest business depends much more on you as an individual than your actual age.

If you are young, you could not have been as cross-functional because you just don’t have the experience of somebody who has been in a corporate leadership role for a long time. Alternatively, possibly you’ve got been doing the same job for so long that you just’re afraid you’ll have help switching gears.

Fortunately, franchising offers a solution in this case as well: franchise networks.

One of the most useful resources for franchise owners is the network of existing franchisees that exist inside each brand. From day one as a latest franchise owner, you will have access to other franchisees from the same brand who have experienced your exact situation. These peer groups develop into your trusted advisory board, sharing best practices and advice on every aspect of your business.

You could also be drawn to owning a business so you possibly can run your business for yourselfbut by joining a franchise network, you are not running a business alone. These experienced franchise owners are, in many cases, a higher source of data than the franchisor. You will have the option to work with individuals who are in the same industry and offer the same services, but are not competitors because you use in different geographic markets.

3. Do I actually feel like starting from scratch?

Occupational fatigue is a fact. And I won’t deceive you, starting a business is not for the faint of heart.

There is no way around it, you’ll have to work hard in the starting. However, it is essential to keep in mind that when you’re employed for yourself, you have a different mindset than when you’re employed for another person. It could also be hard to see it now, but if you are truly ready for a change, that you must ask yourself:

Is the level of discomfort required to make a change now tougher than the constant risk of job loss, frustration with my role, or dissatisfaction I currently feel in my profession?

If you are considering owning a franchise, you are never really starting from scratch. The day you open your doors for business, your franchise will have skilled branding and a recognizable market presence. When people interact with your brand, it instills confidence in interacting with a proven franchise model.