Getting to the Truth...

When evaluating a business opportunity or Franchise, one of the most overlooked competitors that you will have to face repeatedly, is yourself.  Doubt, fear, anxiety, hope, your emotions will run the gamut, and often several times a day, as the number of decisions tied to entrepreneurship explodes exponentially as compared to when you worked for someone else. Being an entrepreneur is fun and exciting as it comes with a freedom most people don't get to experience.

Now the “battle” with ourselves begins as we attempt to vet the franchise, and protect ourselves from ourselves, by actively seeking out the hard truth(s) behind each and every opportunity.  These truth(s) can be deceptive and filled with traps designed to reinforce our base desires and creating a confirmation bias versus what actually is the reality.  This is the very reason why multiple meetings, research, and other due diligence is necessary to move from the "honeymoon" stage to the "marriage" stage where the risk(s) in the model are exposed.

You can begin this journey by understanding your own needs that take the form of, "hope to hear", "want to hear", "need to hear" and finally arrive at the truth. Take your time and move from each stage carefully as the goal is to uncover as many "truths" as possible prior to signing your franchise agreement and wiring that initial fee. Consequently, it may become necessary to involve someone who will not be financially motivated to assist you with your search for the truth and instead is driven by a shared desire for mutual success.

At Tom Harper Consulting our platform is built upon the fostering and development of long-term business partnerships that will endure multiple iterations of business ownership.  Remember, getting into a business can be relatively easy…exiting a business with a strong brand equity that you created is the challenge.  Give me a call to discuss your ideas and opportunities and you will hear the truth, and not what you hope or want to hear.