5 Key Questions To Determine If You Are Moving In The Right Direction
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5 Key Questions To Determine If You Are Moving In The Right Direction

5 Key Questions To Determine If You Are Moving In The Right Direction

When you started your franchise empire you were embarking on a journey. This could have been founded on a dream, a goal, a vision, or maybe an opportunity. Regardless of how you got here, you are now more than likely carrying several different titles which may change on any given day. You are an entrepreneur, a community influencer, a family caregiver, someone your employees count on, a relationship maker with your franchisor and related vendors, and so on.

As a business owner, you can easily see the areas which seem to naturally build value in your business. Your people, your product, your customer service, your reputation, etc. However, what we find when working with business owners is that they can wear blinders when it comes to what their own personal impact has on the value of the business. Specifically, the owner's motivation and perspective for being in business to begin with.

Your company takes on your values and priorities, whether good or bad. Just as your outlook on life sets the tone for how happy and successful you can be, your motivation and perspective with respect to the business establishes the direction and performance expectations. Your view frames the values and practices of your business, which in turn impacts profitability, efficiency, enthusiasm, innovation, customer satisfaction, and the sustainability of success.

In order to ensure you are moving your business in the right direction, with respect to your personal motivation and perspective, answer these five key questions:

  1. Do you feel a responsibility to take care of those who depend on your business?
  2. What impact do you want to have on your employees and your community - is your behavior and approach to leadership in alignment with your intended outcome?
  3. Does your attitude and mindset help or hurt your business, key relationships, and/or the continuity of your business through the next generation?
  4. Do you understand your own outlook towards the business and how your emotions impact those you are depending upon to help you achieve your goals?
  5. How much do you care if your business continues after you are gone?

As a business owner, your perspective and priorities shape and reflect the culture of your business. Many of us do not have the objectivity, self-awareness, or empathy to recognize the impact of our beliefs and behaviors on others and ultimately our business. In addition, your relationships with family members, key managers, employees, strategic vendors, creditors, and franchisors are all significantly affected by your attitude towards the business.

As the business owner, you establish both the limitations and possibilities of business growth and longevity through the future and next generation. Your motivation and perspective set the tone and build the foundation for where you want your business to grow into the future. Take a moment to step back and ask yourself what motivated you to start this journey and consider where you want it to go.

 Kendall Rawls knows and understands the challenges that impact the success of an entrepreneurial owned business. Her unique perspective comes not only from her educational background; but, more importantly, from her experience as a second-generation family member employee of The Rawls Group - Business Succession Planners. For more information, visit www.rawlsgroup.com or email info@rawlsgroup.com.

Published: January 29th, 2020

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