Ok, you’ve made up your mind, you must make a change. You’ve had it with corporate employment or maybe you’re retiring or leaving active military duty. Now What? Remember those day dreams about being your own boss? About not having any schedule to meet except your own? If you owned a business you’re the one setting the standards. If you owned a business, you set the hours. If you owned a business you’d be the boss. If you owned a business………….

Your mind races as you ask yourself, which business? Do I start something from scratch? Do I secure a franchise? What do I know about business? What do I know about getting a loan? What does it cost to have a business? What do I do next? Do I know what I don’t know?

The Wall Street Journal has reported that 9 of 10 Americans dream of being business owners, only 3 of 10 take any action and 1 in 10 actually accomplish their dream. Most people don’t know their own strengths, skills and interests and how best to apply these when looking for a business. Not knowing what business to get into is perfectly normal!

Many people who go down this path allow themselves to be ambushed! Ambushed? By who? Mostly by themselves, the FUD Factor comes into play. Fear, Uncertainty and Doubt are the big obstacles. And then there are spouses who think a corporate job is more secure. That’s not what the statistics show but we’ve been taught to think that way. Friends are another source of discouragement. Sometimes friends are well meaning, they don’t want to see you fail when a corporate job seems a better choice. And there are those “friends” who are jealous of your drive and resolve and they will discourage you because of their own FUD Factors. It’s easy to get talked out of pursuing business ownership.

So what to do? Know yourself first! Do you have these entrepreneurial traits?

1. Before falling asleep at night, I often think of new ideas concerning my future.
2. When I start a task, I usually see it through to the end.
3. Give me a problem and I can figure out a solution.
4. I am able to handle many things at one time.
5. I set and stick to long term goals.
6. I am able to discuss wrong decisions I’ve made in an analytical, rational matter.
7. I like talking to people and helping them with their problems.
8. I am a good judge of people’s character.
9. I have the courage to move ahead.
10. I am NOT a good loser.

Next? Define why you want to be a business owner. What do you want owning a business to do for you? In the case of franchises, you commit to a fixed period of time, generally ten years. So, in ten years, what does your life look like? Where are you living? Are you still working full time or have you delegated daily management? Have you sold the business?

Begin to answer these questions, not for me, for yourself and for your family. And, write it down, nothing fancy any notebook will do. I am in favor of writing versus keyboarding on a computer as, personally, I’ve found more thought goes into writing than typing.

Once you have a reasonable vision of your future then do some research, read a few books as follows:

The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to do About it.
By Michael Gerber.
The Entrepreneurial Mindset
By Rita McGrath
Self-Employment from Dream to Reality
By Linda Gilkerson and Theresia Paauwe
Street Smart Franchising
By Joe Mathews and others.

Then, contact us at Axxiom Franchise Advisors, we’ve helped hundreds of individuals explore their options, helping them find the best fit in a business model to pursue their vision. Is it YOUR TURN?