Episode #10 - Psychographic Analysis for Franchisors

My ponder today is Rebecca Monet and our topic today is psychometric assessments – how profiling your franchisee candidates can help you Determine Compatibility and Predict Performance. That's a mouthful for sure. But basically it means profiling your franchisee candidates in order to determine if they 1) fit into your franchise system's corporate culture, and 2) if they will be more likely to be a top performer in your system.   Time Stamps 00:02:33               Segment 1 - Get to know Rebecca 00:21:06               Segment 2 – Psychographic Analysis for Franchisors 00:50:30               Segment 3 – Quick Draw Questions   Segment 1 – Get to know Rebecca Recorded on at the Franchise Expo West, Denver Colorado Born in Au, a small town in Switzerland She is NOT related to Claude Monet Grew up speaking High German (Swiss German) in the house. Lived on a dairy farm as a child. Parents were Baptist missionaries. Moved to the United States when she was 14 years old. Moved to California in 1984 as a single mother to seek her fortune. Founded her first business in 1994, Noodle Metrics Co-founded her second business called Proven Match in 2009 Founded Zoracle Profiles in 2013   Segment 2 – Psychometric Assessments for Franchisors How franchisors can use psychometric assessments to improve franchisee performance. To a franchisor, granting a franchise is very much like getting married, with very little courting in order to "get to know" their partner. Personality style questions are not used at Zoracle because there is less than a 3% correlation between personality and performance. The science of the process is not in the questions themselves, rather how the participant orders certain words into a hierarchy of preference that is weighted on the back end. This gives clues about motivation, drive, and the decision making process of the participant. The psychographic analysis is not fool-proof but there are mechanisms in place to report out inconsistencies in the answers of the participant. Startup franchisors with no existing franchisees can still benefit from a psychographic analysis tool. A psychographic analysis tool will help a franchisor in the following ways: Faster ramp-up Better quality franchisee and faster ramp-up Better validation Greater franchisee satisfaction, better validation and less litigation Reduced cost to support Reduced cost to recruit, support and train franchisees Greater retention Stronger franchisee compliance and retention Increased performance Increased franchisee performance and profitability   Segment 3 -  Quick Draw Rebecca's favorite book – The Autobiography of Benjamin Franklin PC and iPhone Doesn't watch TV – doesn't own a TV Working on her master list of movies that her friends helped her create in order to learn more about Americana culture. IFA – Dentate YES! Hobbies: golf, painting, cooking Dog person: Bernese Mountain Dog She used to be a car collector – 1967 Cougar In a time machine she would go to 1955 when cars were sexy She has wanted to be a psychologist her entire life   Rebecca Monet's Contact Information e-mail:                 [email protected] website: www.zoracleprofiles.com   Kit Vinson's Contact Information e-mail:                 [email protected] Phone: 214-736-3939 x1 Website: www.franman.net    Books Mentioned in the Episode: Autobiography of Ben Franklin