Franchisees who set their own goals are more likely to succeed than those who simply follow the objectives set by the organization. Why? Veterans of the franchise community know that franchisees who set and commit to their own goals are more motivated than those that “hitch their wagon to the star of the franchisor.”
After reading a franchising expert discussing this in Franchising World a few years ago (it seems the edition is not now available, otherwise there would be a link), I thought of all of the most successful franchisees I knew over my 10 years in the space. While it was true that though many of them loved the brands, there was an even greater commitment to their own lives in terms of fulfillment and creating a better life for their families and loved-ones.
Power of Self-Selected Goals
Pioneering organizational psychologists draw a clear line between extrinsic and intrinsic motivation. Extrinsic motivation are those things that are on the outside, those “carrots” that managers are used to including pay raises, bonuses and benefits. While these have their place, they do not have the lasting effect of when motivation comes from the inside, or “intrinsic motivation.”
Intrinsic motivation, according to Ivey Business Journal’s Keith Thomas is absolutely needed in a world where people, now more than ever in franchising, are self-managed. An intrinsic reward has the following components:
- A sense of meaningfulness – it gives franchisees an opportunity to accomplish something of real value.
- A sense of choice – the franchisee feels like they have some choice in which way they approach their goal and the way in which they are measured.
- A sense of competence – they feel a sense of satisfaction and pride in terms of how well they are accomplishing their goals. The franchisor can then be a partner in helping achieve that goal.
- A sense of progress – they feel like their efforts are really accomplishing something and they can see that progress.
Tips on Goal Setting
- Make sure the franchisee is setting both business and personal goals. According to Street Smart Franchising, there is no franchisor who will have a goal counting how many nights a week a franchisee is home for dinner with her family. However, an innovating coach can help a franchisee attain both their financial and personal goals satisfying the franchisee and the organization.
- Franchising is full of “making mountains out of molehills”. If you are coaching with purpose, when someone is focusing too much on the nitty gritty rather than the big picture, you can bring them back to what is most important.
- A way to create a positive difference and loyalty for franchisees is to provide meaningful building blocks for their intrinsic rewards. Every single goal has it’s own path, and helping remove obstacles or stabilize a foundation for your franchisee will go a long way.
Franchise-led business plans is the foundation for sustained growth and create an exciting and vibrant culture for your franchisees. They also lead to more franchisee satisfaction, since they are seeing their own desires become reality. As a coach, it can also be great for your own fulfillment as you help your franchisees and their families on the road to their dreams.
Stefania is the Sr. Marketing Director at FranchiseBlast. She comes from 20 years in the Marketing world, 10 of them in progressively Sr. positions in Marketing – most recently as the Director of Marketing and IT Development at Tutor Doctor. During the course of her career she has worked with companies like Microsoft, 3M, Shred-it and the Intercontinental Hotel. While at Shred-it, Stefania was recognized by Google as operating a best practice in managing a franchise PPC campaign and her website at Tutor Doctor won an “Outstanding Achievement in Internet Advertising” award by the Web Marketing Association in 2016.
Stefania has taken part in several speaking engagements across North America about entrepreneurship, franchising, marketing and technology and has volunteered for numerous organizations helping children, artists and educational institutions; she is a volunteer with Futurepreneur as a mentor, and does a number of community initiatives. She was also the past Communications Chair of the Queen’s Alumni Association of Toronto. She holds an MBA from Queen’s University and a Bachelor of Commerce from Carleton University. She lives in Vaughan, Ontario with her husband, Matthew and two children, AJ and Violet.