Five Vital Reasons Introverts Drive Franchises Toward Success
There is a common misconception that introverts do not make great managers. Many CEOs like Mark Zuckerberg are considered more introverted than extroverted. Introverts are typically more calculated and methodical than extroverts. They tend to think before they act. They are a great asset to any company because they often manage risk in a much more practical manner. Introverts may also be better at dealing with fine details related to accounting and business law. Awesome franchise opportunities exist for both introverted and extroverted people.
Introverts Think Before They Act
A single bad decision may cost a franchise business thousands of dollars. Introverts are typically more pragmatic. This level of pragmatism directly translates into franchise ownership because a franchisee is merely promoting a brand while maintaining an existing service system. The franchisee doesn’t have to make operating decisions for the entire company. These decisions often require a more outgoing individual to engage in business operations like building partnerships and negotiating. Introverted people looking for a franchise opportunity might refine the routine processes that make up ownership of a business like McDonald’s.
#1. Managerial Decision-Making Processes
An introverted manager will be able to focus on the critical components that make a business profitable. A more extroverted person might want to work with the friendliest supplier. An introverted manager will be more likely to observe how his managerial decisions affect the company’s bottom line.
#2. Service Issues
Introverts may be better at handling customer service issues. This is because introverted people usually have to think before they speak. They will be less likely to use language that could be falsely interpreted in a negative manner. This could escalate a situation that involves an angry customer.
Introverts Prefer Looking at Details
#3. Employee Training
Many introverts have high levels of emotional intelligence. Emotional intelligence involves both the individual’s emotions and his interactions with others. A manager with high emotional intelligence will exercise better self control. The best managers avoid freezing in high pressure situations.
#4. Accounting Systems
Introverts are typically better at accounting than extroverts because they deal more with specifics. An introverted manager will likely make better purchasing decisions related to land and equipment. Numbers are the most important thing when it comes to looking at a company’s balance sheet, so introverts have an advantage in this area.
#5. Business Laws
A recent study found that lawyers are more likely to be introverted. Business owners aren’t typically lawyers, but they cannot consult with a lawyer every time they need to make a single purchasing or hiring decision. An introvert will likely be the best at determining the overall legality of a situation.
International and Interstate Laws
Tax laws are already complicated. Things become severely complicated when you consider the amount of global trade that is currently involved. Regulations vary between county, state and country. Introverts will be better at reading and researching these laws. They’ll be better at weighing opportunity costs related to each decision.
Local ordinances are also varied and complex. An introverted manager may be less likely to ignore county regulations. This could save the business money if penalties are imposed.
Introverts should definitely take advantage of any franchise opportunities that are available to them. A franchise opportunity will usually pay off across the long run, so introverts that are capable of looking at the big picture will likely be the most successful.