Choosing a profitable franchise When thinking...
When I talk to people regarding business, the majority of people I talk to have thought about getting into business at one time. Statistics indicate as high as 80% of the population has considered self-employment, yet only 5% have taken action to cause their vision to become reality. The fact that you are on this website is an indication that you too are considering getting into business. Will you be one of the few that act on that goal?
Most people have considered getting into business for themselves, but few will take action in achieving the goal of entrepreneurship. For most, entrepreneurship remains a dream. When I ask those who do not act on their goal why they feel getting into business for themselves is unattainable, the answers are often one of the following.
For some these might be valid reasons. For most, these are often non-issues. They may be hurdles to overcome, but they are not insurmountable barriers. I have seen individuals with no money get into business. I have seen people of all ages get into business. I have seen those who were single, married and married with children all get into business for themselves. Of those that move forward, many have been successful, and some have not. Yes there is the possibility of failure, but with possible risks there also comes potential reward. Today there are more and more individuals who are enjoying the rewards that come with the risks of self- employment.
Make no mistake - it is it is hard. It is difficult for someone who has been an employee all ones life to become self-employed. There are so many unknowns. It is taking you outside of what you know and what is comfortable. It stretches you beyond your comfort zone. But here lies the real irony! Once you have enjoyed the rewards of self-employment it is difficult to go back to a fixed salary. Once you have experienced the anticipation and excitement of business success, working for someone else is of no interest. I have interviewed several entrepreneurs who have built a successful business and sold it so that they may retire. After a year, they were often bored and starting up another venture. Even if the entrepreneur fails, you will often see them start another business venture, sometimes stumbling a few times before finding real success.
First, write down your goal, set a budget, determine a deadline to achieve it and create an action plan towards achieving the goal. Then commit yourself towards achieving your goal and work the plan.
Second, take steps to remove the unknown. Spend time with someone who is in the business that you are looking to get into. See what they deal with on a day-to-day basis. Learn from their experience and duplicate their experience. Duplicating a positive experience is the foundation of franchising. Talk to franchisees, if you are looking at a franchise. You can remove a lot of the fears by doing research and making a fully informed decision. Seek input and advice from others who are in business for themselves. (Those who have not been in business for themselves are struggling with the same fears and may not be a good source of advice.) Read books and magazines of others who have been, or are, in successful businesses.
Finally, take a big leap of faith and simply do it. Vision plus action equals results. You can make it happen. What is the worst thing that can happen? You fail? Even that is not the end of the world. It is simply a negative result. If you are not failing, you are not stretching yourself outside your comfort zone. Recognize that there will be problems and challenges along the way. That is indeed part of the journey.
To step outside of ones comfort zone takes great courage. To achieve anything in life requires taking action. Have confidence in your abilities and strengths and seek assistance from others in areas you are weak.