Franchisees have vision. In our experience here at The Empowered Franchisee, people who purchase franchises have an eye on the big picture: what really matters to them and the big goals they want to achieve for themselves and their families. As a franchisee, however, you need more than a vision for yourself. You also need a vision for your business.
Simon Sinek addresses this need in his TED Talk, “How Great Leaders Inspire Action,” and the accompanying book, Start With Why. He explains that both leaders and employees need vision as a rallying point, and that businesses are more successful when their leaders have a clear vision, compellingly communicated to their staff.
If you’d like to learn about the “why” principle in detail, we definitely recommend Sinek’s book or TED Talk. If you just want the quick version applied to franchising, however, this blog post is for you.
What Is Vision for Your Business?
First things first: let us define what we mean by “vision.” In the Empowered Franchisee dictionary, vision is a big-picture understanding of where you want to go and why you want to get there.
Keep in mind that the reasons you, personally, decide to become a franchise owner may not make sense as a vision for your business. Those are connected more to your personal vision–what you want to achieve for yourself and your family and why. The vision for your business should relate to the business itself. As the owner, what do you want the business to achieve, and why should you, your employees, and your customers care about it?
Your franchisor’s business system may already provide a clear and compelling vision that you can adopt (or adapt) for your own business. If not, we strongly recommend coming up with your own. To help get your wheels turning, here are some examples of “why” statements for various types of franchises.
Notice that these are all “we” statements. That’s because a successful business is about much more than just the owner. Notice also that none of these statements mention money or profit. That’s because profit is a result, not a catalyst–if you have a strong vision and execute on it, profits will follow.
Why Vision Matters
So, why should you make the effort to define your vision, to determine and articulate your “why”? Several reasons. First, vision serves as a motivator, both for you and for your employees. Humans crave meaning. We want a reason to get out of bed in the morning.
Put another way, we need hope: hope that our actions make a difference in the world and impact others’ lives for the better. Vision generates that hope, and hope keeps people moving forward. When you have a clear “why,” both you and your employees will feel like you’re part of a larger purpose–together. And when you experience challenges in your business, as every business owner does, vision provides the motivation to work hard and overcome them instead of throwing in the towel.
Second, vision attracts customers. As Seth Godin explains in his book This Is Marketing, customers want to be part of a “tribe.” They want to feel that, by purchasing your product or service, they’re becoming part of a community. They also want to feel like they’re making a smart choice by purchasing from you. After all, no one wants to feel like they’re throwing money away.
When you have a clear vision for your business, you can more easily explain your products or services in a way that draws people in. Your sales pitch will have the emotional component that “hooks” people. And you’ll be better able to retain the customers you attract. Just like your employees, customers will be willing to sign on for the long haul when they feel like they’re part of a vision-directed community.
Finally, vision helps your business succeed. If you’re like many entrepreneurs, you’re probably idea-driven. Which means you’re vulnerable to being distracted by new and exciting opportunities. This kind of distraction often causes new businesses to fail. It siphons away money you need for the core business and uses up other crucial resources in the form of your own and your employees’ time and brainpower.
When you craft a solid vision, however, you essentially build guard rails to keep your business from going off track. Any time a new opportunity arises, you can simply ask, “Does it fit our vision?” If the answer is no, you have the clarity you need to walk away.
If you’re still trying to figure out your why–for yourself or your franchise–we can help. Book some time on my calendar or Lauri’s for a free, 20-minute consultation to help you get clarity and get started.
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