21 November 2024
Franchisors are primarily in the people business so we thought these tips from a recent Australian Psychological Society Conference in Perth would be of interest. We were proud to be invited to also share our work in the franchising sector at this conference.  |
| Greg Nathan's Franchise E-Factor (shown above) is a popular model that explains the psychological stages of interdependent relationships. This is where you can't just walk away when things aren't going as you would like. We teach this to both franchisees and franchisor executives, and it is always popular because it resonates with people's experience. While the Franchise E-Factor is targeted at franchise relationships, it is relevant to all interdependent relationships, including business partnerships and personal relationships. In a recent course with a group of Store Partners from Specsavers, we asked for their tips on managing the three broad phases of interdependent relationships - initial excitement, mild frustration/disappointment, and resolution. Here's what they came up with. It's a great list well worth noting. Tips to start the relationship in a good place. - Share your mutual expectations, especially things that are not negotiable. - Discuss your goals and values. - Agree on how you will communicate regularly. - Invest time in understanding the personality of the other party. - Clarify your separate roles and responsibilities. - Discuss how you would like to address challenges that may occur. Tips to resolve frustration or disappointment. - Act quickly when things are not right. - Be honest with your feelings and concerns. - Maintain respect in how you communicate. - Don’t discuss things in the heat of the moment. - Revisit mutual goals and focus on common interests. - Show empathy for the other party's perspective. - Be vulnerable and open to feedback. - Stay solution-focused. - Be open to receiving help from a third-party tip to keep relationships in a good place Tips to keep relationships in a good place. - Stay in your lane regarding roles and responsibilities. - Maintain a communication rhythm through regular meetings. - Maintain respect for the other party’s experience. - Be open and transparent with important information. - Show care and empathy when the other party needs this. - Revisit common interests and reset your goals together. - Check on how the other party feels things are going. - Be willing to forgive and let go of past resentments. - Be open to being adaptable and flexible to changing conditions. We hope you found these tips useful. Thanks to the course participants for sharing their insights. |
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