Running a franchise can be a demanding job. In order to be successful as a franchisee, you’ll need to quickly learn how to set realistic expectations for yourself. How to get the work done in a way that works for you. Here are some tips to help you do just that.
When you set realistic expectations, rather than overshooting or undershooting, you’ll be able to create and meet your goals, make progress and create profit. But how do you keep those expectations honest, and true to what you can actually accomplish?
How to be a more successful franchisee
In 2018, 93% of franchisees claimed profitability [British Franchise Association]. This is proof that franchisee success is more than attainable – it’s likely. And if you can effectively set and meet goals by creating expectations of yourself and your employees, you’ll only increase your chances. Why? Because when your expectations are correct, you provide clarity for yourself and all your employees, and you establish a solid foundation upon which to evaluate future performance.
A lack of clear expectations not only undermines performance and results within a team, but also impacts negatively on engagement, relationships and teamwork.
>> Read more:
- 5 Qualities of a Successful Franchisor
- 4 Things Franchisees Never Have Time for But Are Essential for Running a Successful Business
- How to Launch a Franchise and Get Noticed
- 4 Elements of a Successful Franchise
- How to Start a New Business on a Shoe-String Budget
- The Ultimate Guide to Franchising Success
Five tips on how to set realistic expectations
So, how do you go about setting realistic expectations for your franchise’s performance? Here are five franchisee tips on getting it right...
1. Develop a reasonable mindset
Yes, everyone wants to succeed in business, and when you’ve got a thousand things on the to-do list, accomplishing them all ASAP might feel like priority number one. But it shouldn’t be. Make sure that you honestly assess how long things will take, and that you don’t set yourself or your employees more work than they can reasonably complete in a certain timeframe. Create a mindset that isn’t overly ambitious to the detriment of the working environment, and learn how to balance workplace wellbeing with deadlines and top priority tasks.
2. Acknowledge your own limitations, and work on them to the best of your abilities
Knowing your own limits, accounting for these during the goal setting process, and working over a period of time to improve them, will put your business in a better position in the long term. When you know another team member might be better placed to complete a task, demonstrate a willingness to delegate. Honour all the different skill sets in the business and be aware of the limitations and strengths of others, too.
3. Offer the truth, and expect honesty in return
When it comes to setting expectations, communication is key. One of the biggest reasons you’ll be able to succeed as a franchisee will be that you’ve hired a team of employees you can trust, and when you trust people, you should always be honest with them. You’ll then be able to expect the same in return. If you feel you’re taking on too much, be truthful about this. Empower your employees to do the same, if they find themselves with too much on their plates. The biggest symptom of an overworked employee is sloppily completed work, and this will only reflect poorly on your franchise.
4. Minimise distractions wherever possible, but be sure to account for them
Seventy percent of workers feel distracted, and 54% feel they aren’t performing as well as they should as a result [Udemy]. Distractions are bound to crop up in the workplace, and you should do whatever you can to minimise them and create an environment in which employees feel they can thrive. That doesn’t mean discounting them altogether, though. No human being is a robot, and just because there are, say, eight working hours in the day, doesn’t mean an employee, or even you yourself, will always be able to complete eight full hours of work. Be realistic, and avoid setting unmeetable standards.
5. Have patience, and be flexible
Especially in the early days of your role as a franchisee, you’ll be figuring out what works and what doesn’t. Be flexible and adaptable with your expectation setting, and keep track of things for future reference. Be patient with yourself, and with your employees, as you discover the best methods of success for your unique franchise business.
>> Read more:
Productivity and time management tips for franchisees
When you’ve successfully set some realistic expectations, you’ll then need to meet them. Which means you’ll need to learn how to manage your time and stay productive throughout the working day, setting a golden example for any / all employees. Here’s where you should start...
- Plan, plan, and plan again - Being organised and managing your time well can hugely improve productivity. Plan your day in advance using things like calendars, organisers and to-do lists, and set time-specific deadlines to keep you motivated and on the ball.
- Identify your productive peaks - Some of us are most productive first thing in the morning. Some people find they’re at their best working into the night. As a franchisee, you’ll be blessed with the flexibility to figure out your productive peaks and play to these as you plan out your day, completing deep work during more productive periods and answering emails at the times of day during which you’re less focused.
- Identify productivity techniques that work for you - From ‘eat the frog’ to the Pomodoro technique, there are many different productivity tips and tricks out there for franchisees. Find the strategies that work for you, and implement them into your working life to increase your productivity and boost your concentration.
- Set actionable, measurable goals - Give yourself something to focus on and work towards, and measure your progress as you go. Goal-setting is an important part of keeping up productivity in the workplace, so long as the goals you set are relevant and realistic.
Setting realistic expectations actually helps us grow and become more flexible. It helps us savor life and embrace the messy moments, which often hold more meaning anyway. [...] Sky-high expectations are the antithesis of self-compassion.
Running your own business is a process of trial, error and effort
Hopefully, these franchisee tips will help you to become a realistic and productive business owner. If you can follow the advice offered above, you’ll set yourself up for success and profit. To learn more about franchising and to discover more franchisee tips, browse Point Franchise’s range of articles.
Lily Sweeney, Point Franchise ©