Fear is the #1 factor

Fear holds most people back from investing in a franchise or a business, traveling overseas for the first time, leaving a bad relationship, stepping on stage to speak, or even investing in oneself.

We all do it. Our imposter syndrome is our worst enemy in any of those scenarios. 

Sometimes we're more comfortable with the status quo driven by fear. Fear only robs us of our true potential.

Three root causes of fear hold most people back from investing in a franchise. We'll break each one down. We'll also share the solutions so you can fulfill your vision. 

Mental Block #1 - Money 

You're not alone on this one. Money is the top reason of the three. That makes sense because we all work so hard for it. We all have mental images of banks and vaults to protect our money. And we always feel we need more.

When a baseball player goes into a funk, afraid to pick up the bat, he loses. If he won't swing out of fear because he may strike out, what's the point of owning the bat? 

Money works the same way. It loses its value when it just sits there. 

Money is simply a tool to leverage to make more money. And we all need more money to eat and pay for housing as time passes. That's a constant theme of money that repeats itself over and over.

Let's shift the focus.

• Mental Solution A. Understanding the risk of not using your money and letting it devalue. Which means you're losing your money. 

• Mental Solution B. Understanding money is your investment tool to make more money. 

Investing in a business is one viable option to multiply your money. Look at almost any street corner in the U.S. or many of the service trucks on the street; many have used franchising as their vehicle to invest in. 

Regarding risk, the success rates of investing in a franchise are significantly higher than starting from scratch with a startup. There's less risk of losing both time and money. See here.

• Mental Solution C. Understanding you can leverage the money you have to raise more money. You will be able to invest in pursuing your entrepreneurial journey. 

You may have funding options that open up possibilities. Click here to see your options.

Mental Block #2 - Skills

Many fear they don't have the skills needed to operate a business. 

Let's shift the focus.

• Mental Solution A – Understanding we all have skills we can use. 

• Mental Solution B – Understanding we don't need all the skills to run a franchise. 

That's because when you invest in a franchise, you invest in a franchise support system. Within that support system, there are systems and processes you will be educated and trained on. 

Depending on the franchise, you may be working on the business, not in the business. That means many of the skills you thought you needed to have you don't need. Your role is executive in nature, building a team around you that has the needed skills.

Depending on the franchise, some franchise support systems provide back-of-office support, be it a call center, bookkeeping, human resources, etc.

Depending on the franchise, they may do the sales and marketing for you. Or some provide the colleterial needed so you or your team can execute. 

"Depending on the franchise" is the operative phrase here, making this particular Mental Block important to understand. Some will miss out on investing in a franchise, not realizing there's a franchise out there that's a good match. They miss their possibilities. 

As a guide, we solve that problem with the franchise & funding framework. See below.

Mental Block # 3 – Lack of Self-Confidence

Self-doubts creep in, which is perfectly normal – every human on the planet faces this. The good news is once Mental Blocks 1 & 2 are addressed, the self-confidence Mental Block issue starts fading away. 

Let's shift the focus. :

• Mental Solution A – When you invest in a franchise, you're investing in a support system that helps erase self-confidence issues::

    a.  You'll receive the franchise's playbook that includes proven systems and processes. You don't need to "figure it out." The playbook increases your success rate vs. a traditional startup. See here. 

    b.  The franchise will train you (and/or your team) on best practices to ensure success. 

    c.  You can plug into the franchisor's community of franchisees under their brand. Iron sharpens iron.

The bottom line is you're not on your own.

And know this; it's in the franchisor's best interest to see that you're successful. 

Over time, your growth mindset will fuel your confidence. 

Make it a great day.

What is the franchise & freedom framework?

Just as reputable franchises use systems and processes to help assure mutual success, the franchise & freedom framework is used to effectively and efficiently match franchise candidates with franchisors.

This system helps eliminate the guesswork for both franchise candidates and franchisors, leading to better franchise matches for both parties. 

Learn more:

Click to see the franchise & freedom framework

Click to learn about franchise funding.

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