Coaching Underperforming Franchisees: Don’t Make the Mistake Nike Did
My kids love playing basketball, so whenever I see an inspiring story or a positive lesson that can be learned from an athlete, I share it with them. Recently, I came across this Inc. story about Golden State Warriors superstar Stephen Curry.
The article relates the story of how Nike lost their endorsement contract with Curry to Under Armour, a blunder that cost them billions, because they underestimated his value.
How does this relate to franchising? As the article points out, EVERY business has underperformers or “weak links” that are struggling to improve but may not have the support or tools, including the confidence of the management, to get where he or she needs to be – no matter how desperately they want to succeed.
It can be tempting to write off your underperforming franchisees and focus your efforts on your superstars. But before you dismiss those underperformers, think about what types of support – mentoring programs, peer performance groups, vision planning programs, a little extra one-on-one coaching – you could provide that could turn your subpar franchisees into your next success story.
If haven’t identified the franchisees in your system who could benefit from some extra support, we can help. Contact us about partnering, and visit our Resource Center for free resources, tools, and templates to help you implement support programs.