You’d be surprised how many people set out to invest in owning a business without articulating a clear goal and vision. As a result, they are easily derailed when fear rears its ugly head at the first sign of difficulty. When it comes to buying a business, find your ‘Why’ before starting a new business to better reach your goals and vision of success. What is moving you to consider a big life step, or is there something you are running from when making this decision? If you are not running from something, maybe you are running towards something and just not sure how to get it. Ultimately, explore if there is a vision, dream or a picture of what you are hoping to achieve by owning your own business.
Your ‘WHY’ Is Your Vision. Your ‘WHY’ is the driving force that powers your vision of your future. It is the reason you get out of bed each morning eagerly anticipating the day ahead. It keeps you hopeful during tough moments and it motivates you to keep pushing when the odds seem against you. When you can summarize your ‘WHY’ in a powerful statement, you’ve hit a huge milestone in your business-buying journey. Because that ‘WHY’ will be your motivator, your inspiration, your fuel for resiliency whenever fear, doubt, and uncertainty creep in.
How do you find your Why?
Wherever you are in life, these simple steps will help you discover your motivators and use them to achieve your goals of business ownership. Are you ready to be a business owner? Which business is right for you? It all starts when you find your ‘Why’, so let’s start there.
Four Steps to ‘WHY’
- Ask questions to help you get to your ‘WHY’.
- Draft and redraft your ‘WHY’ statement until you feel energized and focused –
you’ll know when it feels right. - Gut check your ‘WHY’ with 1-2 people who know you well. Ask, can they see you “getting there” if you put your mind to it? Avoid those who tend to see life only through a glass-half-empty lens. Yes, you want frank input, but search for positive, optimistic can-do people. Where energy flows, you go. Search for hope not nay-sayers.
- Tape your ‘WHY’ to your bathroom mirror so it stares at you every day – morning & night. Let it be your compass, your motivator, your reminder of why you’re on this journey – especially on those days when second-guessing yourself can be easy.
Let’s take a deeper look now
In Step 1, I guided you to ask questions to help find your ‘Why’ before buying a new business and here are few good ones to start with:
- Identify your internal driver that is guiding you to consider business ownership. What pain (personal or
otherwise) are you trying to cure, or what opportunity do you sense is out there waiting for you to grab hold? - What issues do you feel passionately about tackling head on – and how would
your engagement improves and impact people’s lives? - Think about the activities and involvement that bring you joy, happiness and fulfillment. How can you translate these activities into a business you can live every day.
- If you are told you have a year left to live, how would you use that time to “work”at Something that brings you fulfillment and leaves a proud legacy for your
family? - If successful as a business owner, how will your life be different in five years?
- You have strengths and superpowers, the special sauce your friends seek your advise for. Harness these, identify them and factor them in as a base for finding your ‘Why’ before starting a new business.
Draft your ‘Why’ Statement
Once you have these answers in place, it’s time to start your ‘Why’ Statement draft. Your statement should be simple and clear and actionable. It should also be focused on how you’ll help others and downright positive and inspirational to you!
Play with your statement, discuss it, polish it, bring in a few trusted advisors and there you have it! Now, head to the bathroom mirror and Post It!
For some of you this will be an easy process. You’ll ask those questions and immediately have the answers but what if you get stuck or what if you can’t answer these yet?
Below is a guide to discovering your why for exactly this reason. Sometimes, we struggle with putting our feelings and passions into words. We know we want this but haven’t thought all the way through the details and get stuck! It’s important to slow the process down so you can be 100% you are doing the right thing for everyone involved and to help you choose the right opportunity. Once you find your ‘Why’ before starting a new business and are ready to explore, have these answers well organized. Before you buy a franchise, or engage a franchise consultant, you will have to know these answers so look at my guide and don’t hesitate to ask questions.
How to Discover Your Why “Guide”
We all chase financial success, but wealth is a byproduct. Purpose is the heartbeat – to the impact we create, the lives we touch, and the legacy we leave behind. So, let’s dive into How to build “What’s Your “why”?
Let’s explore ways to uncover your purpose:
Let’s begin by identifying what truly matters to you and reflect on your outcomes:
1) What areas of your life do you want to improve? Grade yourself on each of these areas from 0% -100? – where are you today and what do you want to change?
- Personal and family relationships,
- Career/workplace performance,
- Become a more effective leader
- Work-life balance and time management
- Make more money,
- Live a healthier lifestyle.
2) What has prevented you from achieving the life you have wanted? What negative triggers need to change? What are simple patterns/events you can change?
3) Fear is a powerful enemy and restrains many from choosing the right journey for you. What is going to drive you to make a shift?
4) What lifestyle do you want? Wanting to make a difference because life can be more than profits from a business? What’s your legacy (children, community) for your future generations —they’ll remember your “why.”?
Explore Your Passion:
- Your passion fuels your commitment to act but it’s essential to have a clear purpose.
- Dig deep into your interests and passions. What excites you? What do you dislike? What problems do you want to solve? What really drives you in life? Where can you make a meaningful impact?
- What do you really want? Why and when do you need it?
- For example, if you’re passionate about health and wellness, explore franchises related to fitness, nutrition, or wellness centers.
Assess Your Values:
- Your values drive your decisions. Reflect on what matters most to you: Community involvement? Sustainability, Empowering others?
- Identify your competitive advantage – what do you bring to the table that is above the product (you) represent.
- As a business owner, when your values and business are in harmony, your “why’ gains clarity.
- Why did you decide to read this article or continue to read this?
Evaluate Your Strengths:
- What are your unique skills and talents? Consider: Leadership abilities, Problem-solving skills, Customer service orientation,
- Leverage your strengths since life is not given to you on a silver platter.
- If the journey is not energizing, don’t do it. If you hate working with numbers, you’ll find every excuse and blame others because you couldn’t achieve your purpose.
- You need to be honest with yourself and not let the market and others drive you.
Visualize Your Legacy
Imagine your future and think about what legacy you want to leave behind for your family, business and community. How will you determine success? In order to get out of the never-ending rat race, reflect on what will determine when have reached your peak of your visualized legacy. Take into account whose lives you may have touched through your journey. Finally, visualize the outcomes that are important to you in regards to time, money and effort. Can you find the ability to commit to your legacy?
Seek Professional Guidance
Consult with franchise consultants, business coaches, mentors, friends and allies in order to get help with exploring your options and assess your motivation. Take the information you gathered from this and refine your ‘Why’. Next, seek to build a network of individuals whom can offer support and guidance and where you can be honest with yourself. Your network of support, guidance and shared dreams is important, especially as a franchise business owner, franchising is like a family.
When modeling your ‘Why’, you might even want to model it after someone who is producing the results that you want. Know that your trusted advisors will hold you accountable, but to sustain forward momentum, you need to hold yourself accountable first in the areas of your life that matter the most to you!
Your ‘Why’ is a Purpose
Remember, your “why” isn’t just about financial gains; it’s purpose. It’s reframing your message from “I think” to “I feel”, taking action and overcoming obstacles. Inside of all of us, once uncovered, is a vision, dream or desire that will guide you and become your reality. Working together to find the perfect opportunity for you all starts here.
Want to join a team who will help you craft “What’s Your Why” and learn how to start a business with confidence matching you with your ideal franchise? Visit www.ScottDiener.com or Book an appointment today https://scottdiener.zohobookings.com/#/customer/scottdiener
Scott Diener - MBA, CFC
