• Rowee Altura

To Be Successful in Business, You Need to Build Your Supporters

Updated: Mar 22, 2021

We all know that there is some truth in the saying “tell me who your friends are, and I’ll tell you who you are.” Our circle of peers and friends has an influence and impact on how we act, what we do, why we do it, and how we do it.

Travel enthusiasts, for example, gravitate towards other people who love to travel, while entrepreneurs love to hang out with other like-minded entrepreneurs. Having peers who have similar interests can help make your life happy, comfortable, and meaningful.

But did you know that the importance of peers is not only evident and relevant in personal life? It also plays a significant role in business and in franchising.

The first piece in the Franchisee Wheel of Excellence

There is the so-called Franchisee Wheel of Excellence, a model designed and perfected by world-renowned franchise relationships guru Greg Nathan. This model depicts how franchisees, whether they are into food, retail, or service industry, can be superstars in what they do.

After rigorous studies, Nathan has identified five interlocking pieces that make up the whole Wheel. And this model has been very useful in guiding decisions, driving behavior, and providing focus so that franchisees can be excellent in their business.

The first piece in the Franchisee Wheel of Excellence is about peers and the importance and impact of having the right peers to be a successful franchisee. It is called “Build Supporters.”

The so-called supporters of a franchisee are his/her customers, staff, franchisor team, fellow franchisees, mentors, suppliers, trusted advisors, accountant, friends, and family. In building your supporters, you are choosing the right peers with whom your business is depending on.

Beyond that, you are constantly fulfilling commitments and building solid win-win relationships with your supporters so that your dynamics with them will be beneficial to all parties, especially to the success of your franchised business.