…What differentiates franchise systems that launch and languish to the ones that grow?
…What differentiates franchise founders and leaders that change lives from those stuck at the execution level?
…What differentiates a thriving brand and system from one that is static and like the many others?
…What is the path for franchise success?
Answers to these questions are not found on a piece of paper, in a book, a report or in a speech written by an “expert”. The answers are found in our experiences as entrepreneurs and franchisors and the continuous process of learning from our wins, losses, setbacks and achievements.
Since the “answers” are found in a life-long process and journey, then what better way to accelerate the growth and development of our own businesses and franchise systems than sharing these experiences with other like-minded franchisors and learning from one another? Such is the premise and power of the “Mastermind” that Napoleon Hill championed in his 1937 book “Think and Grow Rich“.
So, this past September after about a year of planning I am glad to report that The Internicola Law Firm and 1851 Franchise launched the first ever Franchise Growth Mastermind event in New York. The meeting was a first of its kind Mastermind by franchisors dedicated to franchise success. The success of the meeting had everything to do with the incredible franchise founders and leaders – representing over 11 great brands (small and large) – who attended and willingly shared their experiences, know-how, struggles and strengths in a two day closed door working meeting. On a personal level I left with about 15 pages of ideas to implement, next quarter goals to achieve and, most important, direction and a plan of action. Best of all, I got to spend time with some inspiring people that I am glad to call friends.
Throughout the meeting a common theme that became clear to me was that franchise success is not a function of doing everything right (no one does) but rather is a function of and a testament to the founders, leaders and support teams that stand behind the brand and franchise system. Everyone acknowledged mistakes they have made, questions that remain unanswered but for each and every member there was an unwavering commitment to consistent and continuous system improvements.
Connecting the dots as to the success factors behind these brands the one absolutely clear success point is the fact that for each of these franchise leaders, they each know their “why” and, most important, their “why” is not just about business success but also improving lives (their own, their families, their team members and their franchisees) and leaving a legacy.
Since the meeting was closed door, I can’t go into specifics but can share the overall topics that we did a deep dive into:
After working through these challenges our members discussed their own brands, their unique selling proposition, their brand positioning and their brand stories. The meeting left off with each members goals for implementation before our next quarterly Franchise Growth Mastermind meeting. (By the way, the meeting was not all work and some of the most impactful conversations occurred over dinner, in cabs traveling through Queens, New York and at the New York Mets game.)
Thank you to all of our founding members.
To learn more about the Franchise Growth Mastermind, future invitation only events and whether or not your brand may benefit from membership, visit franchisormastermind.com or call us at (718) 979-8688. View more photos on our Facebook Page.
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