In 20 Years of Business Ownership
Last month, I shared the first 10 of the top 20 things I’ve learned in my 20 years of business ownership and franchise consulting, so be sure to check that out if you haven’t!
These lessons are the result of countless trials, failures, and successes, and have shaped me into the person I am today. They don’t just apply to the world of business and franchising, but to life in general.
This month, I have 10 more lessons to share:
11. Your health—physical & mental—must come first to serve others in the right capacity.
Anytime someone comes to me for help with their business, the first thing I ask is: what are you doing for you? Do you work out, eat healthy, have a morning routine, sleep well, and feel happy and joyful? I believe there’s a lot of synergy between fitness and business because each is about pushing boundaries and always striving for improvement. You must take care of your physical and mental health first so you can give back to others optimally.
12. Nobody cares about your degree, title, or background. They care about how you make them feel.
I believe we put too much emphasis on these things when, in reality, it’s all about the people. A piece of paper framed on your wall is not going to make others feel encouraged or inspired to act; it’s up to you to appeal to people on a personal and human level. Still to this day, people do business with people they like and trust!
13. Don’t cut your nose off to spite your face.
I can never get this saying correct. Success often lies in strategic patience rather than impulsive reactions. Don’t sacrifice long-term progress for short-term frustrations. This also applies to relationships and working with people. Keep your eyes on the horizon, not the bumps along the road, and you will get to where you want to go with the people you want beside you.
14. Keep your passion and your business separate so you always enjoy each one on its own.
I’ve seen this happen many times. People will get involved in a passion-filled business—golf, for example—and eventually realize they have no time for it anymore. Or perhaps if your business isn’t going well and you associate your passion with your business, it can drag your passion away from you. You can be passionate about your business, have a strong sense of purpose, and feel excited about what you do, but don’t deliberately make your passion your business because you take the risk of resenting your passion or hobby.
15. Do more, give more, and support more. It’s the only way.
The more you give, the more you get—plain and simple. The more you truly serve others, the better your business will be (and the better you will feel!). Lasting success comes from a place of authenticity, integrity, and a genuine desire to do more for your customers than anyone else.
16. If someone tells you that they’re going out on their own, clap for them, support them, and celebrate with them!
There are too many people in this world who project their insecurities onto others. Unfortunately, when people are excited and ready to go their own way, they are typically met with opposition and discouragement from those closest to them. If someone you know decides to take the road less traveled, be that voice of encouragement and congratulate them! I guarantee they will remember your support!
17. Beware of the crabs in the bucket. Your tribe—who you surround yourself with—is one of the most important decisions you will make.
Surround yourself with people who do hard things, take risks, push their boundaries, and have a positive attitude and perspective on life. Choosing great people to cultivate relationships with is a much more important and impactful decision than most realize. It’s true that we are the sum of the people we spend the most time with.
18. There are no right or wrong decisions. Make the best decision for you right now—that is where you’re supposed to be.
I believe it’s more detrimental to stay stuck in indecision than to make a “wrong decision”. I don’t believe in wrong decisions. I believe you should do your research, and then move forward with the decision that makes the most sense at that moment. We will never have all of the facts, and learning to make a decision is the best skill that you can embody as a franchise owner.
Think about all the “bad” decisions you’ve made in your life. Would you have made those changes or learned those lessons without them? Would you be who you are today?
19. Trust the process.
When looking for a franchise, there is a step-by-step process designed to provide you the appropriate information at the right cadence, to make an educated decision. Like franchising, a strong process is the backbone to success. The more research you do and data you collect, the more clarity and excitement you will build. Trust the process for research and for the future!
20. The most important skill set for a successful franchisee is the ability to make decisions (especially without all of the facts). And you can train this muscle, just like any other, by doing this more frequently.
As a business owner, you have to make decisions every day. Like anything, this is a skill that you can practice and refine. You will never have all of the data and answers in life, so don’t let that deter you. If you made the wrong decision, simply pivot while you’re in it, but you will never know if you don’t learn how to make choices quickly and frequently.
Reflecting on two decades of business ownership and consulting, it’s clear that wisdom isn’t just acquired; it’s cultivated and earned. These 20 lessons aren’t just insights—they’re the backbone of success in the ever-evolving landscape of franchising and life in general. If you’re considering taking the leap into a better future and want to learn more about the best franchise opportunities for you, let’s connect!
