Chinese New Year 2023 Brings a Sense of Calm. Here are 6 Ways to Apply it to Your Franchise.
During Lunar New Year, Chinese diasporas and other East Asian cultures celebrate with over two weeks of festivities. Chinese New Year 2023 officially began on Sunday January 22, and ends today, January 29th.
National Geographic reports that this celebration prompts the largest migration of people annually. According to the Chinese Zodiac, 2023 is the Year of the Rabbit. While 2022 (the Year of the Tiger) was seen as a time for action, the Year of the Rabbit signifies a time of self-reflection, prosperity, and peace, according to Jonathan H. X. Lee, an Asian and Asian American studies professor at San Francisco State University.
With that in mind, what does the Year of the Rabbit mean for franchise business owners? Despite inflation and the ongoing threat of recession, industry experts anticipate that 2023 could be the best year ever in franchising. The rabbit is said to be luckiest of the 12 animals in the Chinese zodiac, and franchise business owners could expect 2023 to bring prosperity, hope and calm. But even if you’re not into Chinese astrology, a sense of calm is a great quality to bring to any franchise business.
Here are 6 tips to help franchise business owners stay calm during the Year of the Rabbit and beyond.
How Business Owners Can Stay Calm
Turn off Notifications
We are all guilty of this: our phones are always near us, and we constantly check to see our notifications seemingly out of habit. Many franchise owners are glued to their phones and think about a million things. But when business owners take that bad habit home, work and personal life become blurred. To fix this problem and stay calmer during the Year of the Rabbit, consider turning off nonessential notifications such as updates from news sources or social media. Nobody needs to be caught up moment by moment on every piece of news that’s going on. While it’s beneficial to be aware of current events as a franchise owner in any industry, being berated with negative news coverage can lead to increased anxiety.
Identify the Cause
As the saying goes, the first step to fixing a problem is admitting that you have one. But what is the cause of the problem? If you are struggling with hiring or are paying higher costs due to inflation, that is certainly a cause of stress and anxiety. But now that you’ve identified the cause of your anxiety, you can be more pragmatic in solving the issue.
To incentivize quality employees to work at your business, consider implementing sign-up bonuses, enhancing medical or educational benefits, or seeking help from your franchisor. According to the 2022 study on the impact of labor shortages in franchising by FRANdata and the International Franchise Association, 80% of respondents experienced considerable or somewhat constrained growth because of labor challenges. Working on this problem pragmatically can alleviate your stress and benefit your business.
Take Time for Yourself
As a franchise business owner, long hours and seemingly non-stop work are the norm. While that may benefit your business in the short-term, it can negatively impact your health. Lacking sleep and being in a constant state of anxiety is no good for you or your business for the long-term. Make it your mission to clear your mind with exercise during the Year of the Rabbit. According to the Mayo Clinic, regular exercise can be a welcomed distraction and an endorphin booster. It just makes you feel better! Never let your business take priority over your health.
Delegate When Possible
While it may be tempting to fixate on the little things that go wrong in your business, this can impede your focus on the bigger picture. What are your larger priorities and vision for the company? If you feel like you’re spending too much time counting inventory or doing other behind the scenes tasks when you’d rather have a sales or customer-facing role, delegate tasks when possible. You have managers and staff for a reason! Working on a business, not in it, is a benefit of franchise ownership.
Create a Welcoming Work Environment
Your team may be willing to help out more if you create a stress-free work environment. To foster a welcoming and calm work environment during the Year of the Rabbit, show your employees some appreciation. Commend them when they are doing well and reward them appropriately. From expressing gratitude on social media to paying for the occasional lunch, there are many ways to ensure all staff members and managers feel like an important part of the team. Happy staff members make for a happier business owner!
Stay Positive
It may sound cliché, but the power of positivity is a real thing. To increase your feeling of positivity, you can practice gratitude, mediate, and acknowledge and use your strengths. As a franchise business owner, you have the support and tools needed to run the business properly. Just trust yourself and the system, and the rest will likely fall into place.
Here’s to a happy, healthy, and calm Year of the Rabbit!