Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
management lesson 2019-06-15

Entrepreneurship Lessons That Franchisors can learn from their Mentors who are like father figure

This Father’s Day, Franchise India brings you a few entrepreneurship lessons that franchisors can take from their mentors, who are like father figures.

By Content Writer
Entrepreneurship Lessons That Franchisors can learn from their Mentors who are like father figure

Starting and operating a business is similar to raising a child. From taking baby steps into the business world to helping it grow and mature, is just like how a father raises their child. Fathers have always been inspirations; someone we often tend to look up to as our role model. They have a great influence on our career choice and paths.

As Umberto Eco once wrote, “I believe that what we become depends on what our fathers teach us at odd moments when they aren't trying to teach us. We are formed by little scraps of wisdom.”

Hence, this Father’s Day, Franchise India brings you a few entrepreneurship lessons that franchisors can take from their mentors, who are like father figures.

Learning by Doing

Just like no one can become a perfect father by reading parenting books, similarly one cannot operate a business with going by the book. One has to understand the fact that one can never be perfect from the beginning; the trick is to learn by doing and practising. Taking risks is a part of the game and it is important to learn simultaneously through failures and successes.

Maintain a Balance

Parenting is a balancing act. Fathers have to constantly juggle between personal and professional lives. But they have their priorities clear. Similarly, in the case of entrepreneurship, running a franchise business is a handful. There will be a lot of things you would have to deal with on the work front, but you cannot neglect your personal life and family. With the help of prioritisation, proper planning, strategy and implementation, you can achieve the balance, ensuring true success on both fronts—personal and professional.

Be a Good Listener

Fathers have always been known to be good listeners. They have always listened our every tantrum and problems without flinching and tried to come up with solutions.

Franchisors, too, should learn to be there for their team and staff. A compassionate and considerate leader goes a long way in keeping the team together. Your staff and team are the pillars behind the success of your franchise business. Thus, it becomes extremely important to lend an ear to their issues and problems and try your best to resolve them. In fact, if reports are to be believed, 65 percent of employees were ready to give up a pay hike for a good boss.

Be Quick to Praise and Careful to Criticise

This is not uncommon that children are always pushing boundaries and testing the world around the parents, both of which can be frustrating. However, our fathers knew this fact that shouting or continuous criticism can render negative effects. They have always been careful while criticising, making us understand our mistakes politely as positive reinforcement makes the children feel good.

It's the same for employees as well. Studies show that positive encouragement works better than criticism in motivating staff and service providers. Giving positive feedback gives a sense of accomplishment and motivation, making for a happier team, thus encouraging good staff to stay with your business and ensuring loyalty.

Comment
image
image
image
image
Related opportunities
  • Gardening Services
    About Us: Started in 2013, with a dream to convert concrete..
    Locations looking for expansion Rajasthan
    Establishment year 2013
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Jaipur Rajasthan
  • Fine Dine Restaurants
    About Us: Established in 2007, Marrakesh, a venture of Marrakesh Hospitality..
    Locations looking for expansion Maharashtra
    Establishment year 2007
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 450
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Pune Maharashtra
  • Mobile & Communication/Internet Connections
    About Us: HOCO. TECHNOLOGY (HK) CO., LTD. has established the brand..
    Locations looking for expansion Tamil nadu
    Establishment year 2018
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Chennai Tamil nadu
  • About Us: Namma Theneer Kadai is an established tea house, which..
    Locations looking for expansion Delhi
    Establishment year 2015
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories

Free Advice - Ask Our Experts