If you’ve ever watched the lead up to the Kentucky Derby, you know how much attention is centered on the horses. But in the weeks leading up to the big day, and on the day, the talk ambles on to other elements of what it takes to win the race.
They discuss the weather, the track (dirt vs. turf or synthetic), the trainers, bloodlines, the owners, the odds, and the jockeys. There are so many variables.
How do you tell what matters most when placing a bet?
If a horse race can be compared to a business venture, most investors may tell you that they would bet on the jockey. Some explain it as betting on the best team. The team usually matters more than the idea in business.
Yet, there are exceptions. Take Secretariat, who was the first horse to cover the 1 1/4-mile Derby distance in under 2 minutes with a time of 1:59.40. His time has never been beaten. He went on to win the Triple Crown.
Even with all the variables, both in horse racing and in business, being informed is important. If you are investigating a franchise, is it better to bet on the franchisee or do you learn more about the founder and management team?
Let’s face it, there are times when the jockey is more important, and at other times the horse is where you place your bet.
Imagine the relationship between being the jockey in a horserace and being the franchisee in a franchise. Betting on the jockey would be betting on yourself to “win” in whatever franchise you select.
You want to make an informed decision. Going through the discovery process is important. Just as you might vet a horse. There is always an element of chance, but doing your homework can make a difference. That’s where I can assist you. Franchising is a risk reduction strategy.
To help you find the right franchise fit, my job is to listen closely to your goals for a business, ask the hard questions to gain valuable insights and match you to companies with the best odds to gain success and happiness.
Is there a time you bet on yourself?
Do you have a side gig?
Are you a business owner/franchisee? Is that a goal?