Overall Compatibility
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Culture
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Culture determines the environment, strategies and practices that inspires and engages employees and franchisees to perform optimally. Culture is important to company morale and maintaining good relationships. The key to using culture to improve performance lies in matching cultural attributes to franchisor and franchisee goals. A culture that is congruent and clearly communicated provides endless benefits to a franchise organisation including greater effectiveness and brand equity. A franchisee who shares your company's culture will prove more compatible and likely perform better.
Values
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Matching a franchisee's core values with a company's core values creates compatibility and harmony. Having shared values provides a solid foundation for a long-term business relationship. Like-minded people have a basis for understanding, communicating and exercising judgment. Values alignment builds strong brand recognition. Our research and that of others, show that there is a strong link between financial performance and values alignment. When the values of an organisation are in alignment with the aspirational values of the franchisees, the result is high performance.
Work Style
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For greatest satisfaction and effectiveness, one should seek a work or business environment consistent with their natural tendencies. Work Style is particularly important for the business owner as they will set the pace, priorities and direction for employees, partners, vendors and clients. Work Style translates into how one will delegate, direct, motivate, manage, evaluate and resolve day-to-day business situations. The target within each Work Style segment was determined from input from your leadership team and assessing your top performing franchisees.
Stages of Growth
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Stages of Growth are determined by a company's managerial style, organisational structure, formal systems, major strategic goals and founder/owner involvement. As a franchise organisation grows, the systems and procedures will adapt to support an evolving business model, the needs of the franchisees and to satisfy end-user demands. Within each stage of business a franchisee's skills and goals need to complement a franchisor's plans and market expansion strategies. A franchisee that is in-step with your franchise organisation's Stage of Growth will prove more compatible and likely perform better.
Competencies
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Understanding your candidate's business competencies is important. More important however, is how those competencies complement those of your franchise system. Complementary Competencies provide a framework for forming collaborations between franchisee and franchisor. In doing so it presents numerous ways of correspondence between the expertise of the franchisor and the skills of the franchisee. Complementary Competencies reduces redundancy, makes wiser use of resources, provides points of correspondence and thus greater value, compatibility and performance.
Focus Preferences
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Nothing is more basic to performance, or more critical to success, than the ability to concentrate. To be successful in business, people need to be able to shift their focus of concentration along two intersecting dimensions, width, and direction. Ongoing performance is based on one's ability to shift from broad to narrow and internal to external. Although everyone is capable of developing the four different styles of concentration we have a preferred or more highly developed focus style.
Emotional Intelligence
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Emotional intelligence includes self-awareness, self-management and self-motivation. Business owners with a high degree of self-awareness know which emotions they are feeling and why. They recognise how their feelings affect their performance. Business owners with a high degree of self-management build trust through being authentic and reliable. They admit their own mistakes and confront unethical actions of others. Business owners with a high degree of self-motivation are results-oriented and have a high drive to meet objectives.
Social Intelligence
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Social intelligence includes social awareness, relationship management and leadership. Individuals with a high degree of social awareness are attentive to the emotional cues of others. They can accurately detect crucial social networks, read key power relationships and the forces that shape the actions of others. Individuals with a high degree of relationship management are skilled at being able to work with others. They handle difficult people and tense situations with diplomacy. Someone with a high degree of leadership skills can arouse enthusiasm for a vison, build consensus and guide performance of others while holding them accountable.
Sales Orientation
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All businesses require some form of sales. There are three primary types of sales and naturally there are individuals that are suited for one over another. Statistics show when a product or service is matched to an individual's sales orientation there is higher performance. When a salesperson is operating within their natural sales style they come across as authentic and trustworthy; both vital elements to closing more sales. The end-user has a good experience and you as a franchisor have stronger brand equity.
Business Path
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There are multiple paths to succeed. The best path to success and fulfillment is one that is individually crafted. Unfortunately, due to limited resources, poor timing and lack of experience or skill doing so is not always possible. Franchising is the closest thing between a collectively prescribed and individually crafted path to business success. hattch's Business Path modeling demonstrates six ways to assuage concerns, follow passion, gain recognition and successfully pursue one's aspirations. Choosing a path that reflects one's individuality will provide greater fulfillment and performance.
