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Entrepreneur’s Source Founder Terry Powell Shares 5 Insights on Entrepreneurship

Entrepreneur’s Source Founder Terry Powell Shares 5 Insights on Entrepreneurship

In a recent feature with Expansion Experts, Terry Powell shared insights from his experience in founding The Entrepreneur’s Source.  Across the last 30 years, Entrepreneur’s Source has not only helped hundreds of franchise brands achieve success, but also helped tens of thousands of aspiring entrepreneurs reach their Income, Lifestyle, Wealth and Equity (ILWE) goals through investing in a franchise opportunity.

From booming businesses to economic downturns, Powell reflected upon the challenges and triumphs of business ownership across the last 30 years and shared several secrets behind The Entrepreneur’s Source’s success.

On His Biggest Challenge:

With each development stage came a new challenge, but if I had to pick one that has been constant, it’s the test of leadership. Leadership is a long and lonely road and you hear many voices clamoring for your attention. Your job is to find your own voice and to be true to it at all times regardless of the consequences. My greatest challenges have always happened when I didn’t follow my inner voice, when I disregarded my intuition and questioned myself in light of other people’s demands and opinions.”

On Leadership:

“I’m a visionary–a possibilitarian. I live in a world of ‘what ifs’–curiosity and tenacity are some of my most cherished guiding principles. However, I thought that as the founder of this company I needed to lead it and manage it. So I forced myself into a role that took all the fun and energy out of life and prevented me from doing the things I love and I know I’m good at. I needed to let go, but that wasn’t easy. After many years of being coached, learning, searching, and self-reflecting I realized that I had to remove myself from the day-to-day operations and find the right person to take the rudder and bring the company to the next level. You can’t do that when you are not having fun.” 

On the Ultimate Test:

The ultimate test, of course, was when The Entrepreneur’s Source reached the ceiling of complexity and I lost the feeling of a kid in a candy store that I had enjoyed up to then. I often say that people are their worst enemies, and I certainly was mine. But I knew that there was an answer, I just had to find it. My business coaches and mentors helped me see the way out and restructure the organization to create a functional team and find the leader I wanted for it.”

On What He Would Do Differently:

I didn’t franchise The Entrepreneur’s Source until after 14 years in business. Today if I took that long, I wouldn’t make it. The world moves at a much faster pace nowadays. If I had to do it all over again, I probably would have started franchising after being in business for 3 or 4 years.”

On Following His Passion:

Franchising can be a lonely journey making having mentors important. I was blessed to have a couple of great people by my side who mentored me as I grew the business. I’m finally in the role for which I was born–that of visionary and an entrepreneur. So, watch out, the best is yet to come.” 

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The Entrepreneur’s Source Reviews the Top 5 Tips for Smart Investing

The Entrepreneur’s Source Reviews the Top 5 Tips for Smart Investing

Many individuals are finding their retirement funds depleted as a result of the economy, stock market, unemployment and others factors outside their control. Those who have made reactive investments into their financial futures risk the uncertainty of whether they will able to pay their bills or be afforded the type of lifestyle they desire upon retirement.

However, there is hope in overcoming Battered Investor Syndrome: investors must deploy funds into something they can control, like a franchise business opportunity. A business is a proactive investment individuals can put their resources in and have much greater control over their return, as they are not completely dependent on the stock market or other factors out of their control.

The Entrepreneur’s Source has outlined their top five smart investing tips to help individuals begin to take control of their investments.

The Entrepreneur’s Source Top 5 Tips for Smart Investing

  1. Diversification is the key: Do not place all your eggs in one basket. As a society, we have become comfortable with the idea that allowing others to manage our investments is in our best interest. This is not always the case.  Investors should diversify their portfolios with both passive and reactive investments in order to safeguard against losing control of the return.
  2. Pick Proactive: Reallocate a portion of your portfolio into a proactive investment, like a franchise business, versus a majority of reactive investments. A franchise business is a proactive investment that allows individuals to have much greater control over their return, as they are not completely dependent on the stock market or other factors out of their control.
  3. Have a clear plan: Before investing in anything, you should know why you are investing it. The Entrepreneur’s Source believes the first question that should be asked when considering entrepreneurship through investing in a franchise business opportunity is “why?”
  4. Focus on long-term goals: Investors should establish their desired Income, Lifestyle, Wealth and Equity (ILWE) goals and keep at the forefront at all times. The ILWE creates a framework for growing a successful business and by focusing on both short and long-term objectives.
  5. Be open to guidance: Enlisting a business coach will keep individuals on track and provide objective advice and support.  E-Source business coaches provide an environment where clients can focus on identifying what investments will best serve as the vehicle to achieving goals.

 

 

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The Entrepreneur’s Source Reviews Income, Lifestyle, Wealth and Equity Goals

The Entrepreneur’s Source Reviews Income, Lifestyle, Wealth and Equity Goals 

The Entrepreneur’s Source business coaching process is focused on identifying your possibilities, options and dreams. A willingness to explore and define your unique goals, needs & expectations is one of the main catalysts for a successful coaching relationship.

Setting the Big Picture: Goals, Needs & Expectations

The Discovery Process will help you focus and gain clarity about what you want the big picture of your life to look like. The Entrepreneur’s Source coaches help you to reconnect with your inner child and dare to dream big. You only get one life. You deserve to have it all. We are here to help you figure out how.

Defining Income, Lifestyle, Wealth and Equity (I.L.W.E.) Goals

One of the tactics The Entrepreneur’s Source employs to aid you in defining your Goals, Needs & Expectations is the determination of your I.L.W.E. (Income, Lifestyle, Wealth & Equity). Each of these components plays a vital role in your overall happiness and satisfaction with life.

Income is defined as: your re-occurring short term earnings through employment and investments.
What do you envision your income to be in the next 3 to 5 years?

Lifestyle is defined as: a manner of living that reflects your values and attitudes.
What do you envision your lifestyle to be in the next 3 to 5 years?

Wealth is defined as: the state of being rich and affluent; having a plentiful supply of material goods and money.
How do you envision your wealth portfolio in the next 15 to 20 years?

Equity is defined as: the interest in assets you have built up.
What assets will you own that will provide you and your family with long-term equity over the next 10 to 20 years?

For more information and to connect with an Entrepreneur’s Source Business Coach, visit http://www.entrepreneurssource.com/

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The Entrepreneur’s Source Reviews How to Transition to Entrepreneurship

The Entrepreneur’s Source Reviews How to Transition to Entrepreneurship

Throughout your career path, have you ever dreamt of being self-sufficient? Have you ever thought, I am ready to do this on my own, I just don’t know how to get started?

Studies have shown 75 percent of the adult population has a strong or very strong desire to be self-sufficient—but only five percent are ready, willing and able to act on that desire. However, The Entrepreneur’s Source believes that, with proper coaching and guidance, the other 70 percent can also attain independence.

Like any major life change, transitioning your career path to entrepreneurship is a challenge. There are many questions to be answered, and you may find yourself wondering:

  • Where do you go for advice?
  • Should you open a startup business that’s independent?
  • Do you invest into a franchising business opportunity?
  • What’s the right business opportunity for you?

At The Entrepreneur’s Source, business coaches work with aspiring entrepreneurs to answer the tough questions and help establish income, lifestyle, wealth and equity goals in order to find the best business opportunity fit.

The decision to take control of your professional career through entrepreneurship is only the first step. An E-Source Coach can help take you through the Discovery Process and identify the right business opportunity that meets your income, lifestyle, wealth and equity (ILWE) goals.

Aspiring entrepreneurs can take the first steps toward finding the right franchise opportunity at Start a Business Weekend, a digital franchise expo hosted by The Entrepreneur’s Source. For more information, visit: http://www.startabusinessweekend.com/sabw/

 

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The Entrepreneur’s Source Reviews Who Makes a Successful Entrepreneur

The Entrepreneur’s Source Reviews Who Makes a Successful Entrepreneur

Pursuing entrepreneurship requires reflection upon the “why” behind the desire for career path change. The Entrepreneur’s Source Coaches work with prospective entrepreneurs to help guide them through the Discovery Process and identify the best business opportunity that will become a vehicle for success.

Some of these self-evaluation questions include:

  • What are the pros and cons of climbing the corporate ladder toward retirement?
  • How will starting your own business enhance your lifestyle now and later in life?
  • If you looked at your life a year from today, what has to have happened during that period—both personally and professionally—for you to be happy with your progress?
  • Will investing in the stock market or real estate build enough wealth and equity for your future?
  • With your experience, knowledge and skills, what is the most viable option to reach your goals?

The decision to take control of your professional career through entrepreneurship is only the first step. An E-Source Coach can help take you through the Discovery Process and identify the right business opportunity that meets your Income, Lifestyle, Wealth and Equity (ILWE) goals.

While business ownership is not for everyone, E-Source Coaches create a safe space that allows clients to explore the Discovery Process without the commitment to making a decision prematurely. In fact, 95 percent of the E-Source’s clients discover options they admittedly would have previously dismissed and never considered on their own.

Aspiring entrepreneurs can take the first steps toward finding the right franchise opportunity at Start a Business Weekend, a digital franchise expo hosted by The Entrepreneur’s Source. For more information, visit: http://www.startabusinessweekend.com/sabw/

 

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