What Franchisors Can Learn From Punxsutawney Phil

Goundhog Day Phil sees franchise shadow in businessThis year on February 2nd, Punxsutawney Phil inevitably saw his shadow again. Rumor has it he leapt back into his den, and now the rest of us need to endure six more weeks of bone-chilling winter. Thanks a lot, Phil.

It might not seem obvious, but business owners and potential franchisers can learn something from Punxsutawney Phil. According to an article on Inc.com, 55 percent of people under thirty who are not currently entrepreneurs would like to be – but for whatever reason, can’t bring themselves to take the leap.

Those stats aren’t exactly surprising, when you think about it. The reasons not to franchise or start your own business can be daunting. Opening a business as well as franchising can involve significant financial and legal risks. So it’s really no wonder that would-be entrepreneurs and wanna-be franchisors get spooked after thinking about all the risks. Like Punxsutawney Phil, they see their own shadow, and they bolt.

Sometimes it’s hard to strike out when we don’t know exactly what’s going to happen in the future. Taking big financial risks and facing failure can be daunting, for sure. But taking a big step forward, however terrifying, is the first step toward possible success.

In business, don’t shirk away from your shadow, like Phil does. Embrace it, relish it, and get used to being uncomfortable. In business, if you’re unwilling to step outside of your comfort zone, you’ll always get the same results – six weeks of winter.

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