What If I know one thing about your business that I could use to see if you will be successful in the long run? What could it be? How much you market or network? Nope. Customer satisfaction? Wrong. How well you manage your business? Sorry. The simple answer is something more profound.

I remember coming across a study that helped franchisers and employers select almost perfect candidates. Generally, we see how important it is for a franchisee to choose the right franchise. But what is fascinating is that it may be significant for the business to pick the right franchisee, based on these ideas:
  • The franchisee is the brand, often one that is highly respected.
  • He or she is the face of the brand to the public.
  • Bankrupt franchisees are often controversial.
So itís very important to choose the right owners. That is where your business will come into the picture.

What they discovered is how and why successful franchisees are not like their less successful counterparts. Franchisee success is directly related to the success of their small business, so what I am about to say applies to every entrepreneur, not just franchisees.

The study included a team of psychologists surveying hundreds of businesses over several years. They looked at both spectrums of the performance chart. They talked to excited owners, fearful ones and the successful and unsuccessful in other industries.

Once they completed their project, they crunched the numbers, ran the math, and came to a shocking conclusion: it is not experience, money or skills that are the signs of true success. Instead, the survey uncovered that attitudes are the best forecasters of business performance.

But that is just the tip of the iceberg. Having questioned hundreds of small business owners, they discovered that the way an owner manages their employees is the driving factor in defining their success.

It seems that being a great boss is more important than anything else when you want to be successful.
  • The most successful owners see their employees as priceless assets, and treated them accordingly.
  • The owners managed in a way that is friendly, positive, welcoming, as opposed to overbearing, strict, and critical.
  • These owners had fewer turnovers, fewer expenses, happier workers, and a lively workplace. As a direct result they improved their customer service, increasing loyal customers, and bettering sales.
The point of this is that business owners and franchisees who are successful know that people come first and foremost. They treat their employees right.