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About eight years ago, I finally decided enough was enough — enough red tape, enough bureaucracy, enough of not feeling like my efforts aligned with my professional success. As much as I was ready for a change and knew what I’d be walking away from, I wasn’t sure what I was walking towards. After all, there is a big gulf between corporate frustration and finding the confidence to venture out into uncharted territory. I was confident in my abilities, but entrepreneurial imposter syndrome is real — Sound familiar?
Fortunately, I was able to find my way into a career path that provided a template for success while maintaining entrepreneurial independence: franchising. Today, as a former franchise owner and a current franchise consultant who has helped guide hundreds of individuals into franchising, I can confirm how the franchise model can alleviate entrepreneurial imposter syndrome and provide a fantastic path toward professional independence.
Let’s break down three imposter syndrome insecurity questions and explore how franchising offers a solution.
Related: Considering franchise ownership? Get started now to find your personalized list of franchises that match your lifestyle, interests and budget.
1. How do I know if I have the right skill set to be an entrepreneur?
Fortunately, when going through the discovery process, franchisors aren’t necessarily looking for a one-size-fits-all individual. While it’s important that you are adaptable and willing to learn and grow, franchises often complement your already-developed skill set.
First and foremost, it’s important to have an honest introspective look at your own experience to take stock of your skills. Most professionals have an area or two they consider to be “weak spots.” Is it finance? Sales? Engineering? Admin? Other? Realizing these holes exist in your professional repertoire can be unsettling for an aspiring entrepreneur. However, the franchising model helps to alleviate some of these concerns.
Let’s consider managerial aptitude. Whether you are confident in your ability to manage people or you absolutely hate managing people, there are franchise models that work for you. Brand selection is vital. In most cases, franchise owners don’t have a huge number of employees, but if you do want to avoid employee management, there are ways to do so.
Aversion to sales? B2C franchises that have recurring customer bases may be a good fit. (Consider a service brand like lawn care in which the franchisor has a larger call center, but your local franchise performs the services.)
Once you have selected a franchise brand that matches your skills, you are also immediately provided with an operations playbook — literally called “operations manual” from the franchisor. This manual provides step-by-step instructions for running every aspect of your business and a template for how the business can be successful.
Through careful brand selection and the information provided by a robust operations manual, franchising opens doors of possibilities that can match your skill set. Additionally, it may be worth working with a franchise consultant — a professional who helps candidates match their skill sets with the right business model.
Related: How to Overcome Imposter Syndrome and Start a Business, According to Gary Vee, a Serial Entrepreneur Worth Over $200 Million
2. Am I too young or too old to start my own business?
Ultimately, determining whether you are the “right” age to be a new