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The Entrepreneur’s Source Reviews 4 Crucial Factors to Consider Before You Invest in a Franchise

The Entrepreneur’s Source® Reviews 4 Crucial Factors to Consider Before You Invest in a Franchise. It’s easy to be overwhelmed by the sheer magnitude of choice when looking into franchise brands to invest in. There are thousands of franchise opportunities out there, but not all franchise brands and opportunities are created equal. Depending on a wide variety of factors, such as your goals, desired lifestyle, preferred time commitment and more, some franchise brands may not be the right fit for you. Do you know what aspects to consider when evaluating the thousands of franchise opportunities out there? Today, The Entrepreneur’s Source reviews four crucial things to examine when evaluating franchise opportunities to help you narrow down your search and zero in on the perfect fit for you.

      1. How the opportunity aligns with your I.L.W.E. Goals

Examining how a franchise opportunity aligns with your specific goals for your future is a great first step in evaluating if a franchise opportunity is right for you. If you haven’t already examined your Income, Lifestyle, Wealth and Equity (I.L.W.E.) Goals, then now is the perfect time to do so. Establishing these objectives can help you gain clarity about what you’d like your future to look like and comparing this to how a specific franchise brand could be leveraged to accomplish your goals, needs and expectations can be a telltale sign whether it’s a good match for your aspirations.

      1. The overall cost of the franchise investment

Many people think there is no way they can afford to invest in a franchise, but franchises come in all shapes, sizes and prices. In fact there are franchise concepts in nearly 100 different industry sectors, with investment levels ranging from as little as $10,000 to $3 million or more depending on the specific opportunity. If you only have a certain amount of capital available to invest in a franchise business a good way to start eliminating opportunities is to look at the required capital for the initial and continual investment. Examine the costs that go into opening a franchise, such as the franchise fee and real estate investment, and ongoing fees such as royalties. If these costs seem feasible for you, then that’s another check mark for the franchise opportunity being the right fit for you. It’s important to be conscious of what feasible means to you so that you do not limit your options from the start. You may be surprised to learn that you can find capital to fund your franchise in non-traditional ways. To learn more about nontraditional funding options, click here.

      1. The systems and level of support offered from the franchisor

In franchising systems are king. What makes great franchises great, is that they have simple systems that are replicable and duplicable. Franchise systems are designed to make sure the service or offering creates a standardized customer experience, but also so that the franchisee can save themselves significant time, energy and money. Most franchise brands offer ongoing support from the franchisor, but depending on the franchise brand this can greatly vary. If you don’t have much business experience investing in a franchise brand that offers a greater deal of support – such as a 24-hour hotline or on-site training – may be an ideal aspect to look for in a franchise opportunity. However, if you’re a previous franchisee or business owner, then a large amount of franchisor support may less valuable to you, so you may want to look for an opportunity with less continual support. There’s no right or wrong amount of support, but prospective franchisees need to establish just how much they need and consider franchise opportunities offering that desired amount.

      1. Are your values aligned?

Like any relationship, whether it’s personal or business, becoming part of a franchise system is a partnership that is interdependent and should be a win-win for both the franchisor and franchisee. The most successful franchise brands are thriving due to their franchisees. On one end, the franchisor needs to feel confident that each franchisee will represent the brand well and elevate its name. On the flip side, the franchisee must feel like he or she is getting the value and support out of the relationship with the franchisor. Without both parties being satisfied, it would not make sense to create this partnership. Are your vision, mission and values closely aligned with that of the franchise system? If no, this is a sign that this franchise may not be a good fit for you.

You Don’t Need to Go At It Alone! Properly evaluating franchise opportunities, if left to your own devices, can take extensive time and energy, but following a proven process like the one The Entrepreneur’s Source® offers actually makes it less overwhelming and can help you uncover opportunities where you least expected it. It can actually be a manageable and empowering journey; some may even say an exhilarating one. It is not coincidental that 95% of our clients who embark on this “journey of discovery” with us, end up discovering options they admittedly never would have looked at on their own or had prematurely dismissed. If you’re still not sure where to start or want someone to guide you through the process of uncovering and evaluating franchise opportunities, contact an alternative career coach at The Entrepreneur’s Source franchise today. E-Source coaches can provide you the leadership and guidance that you need to help you uncover if an opportunity may be the right fit for your goals and aspirations. For more information on how a coach can help you better evaluate franchise opportunities, contact a coach today http://www.entrepreneurssource.com/blog/contact/.

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The Entrepreneur’s Source Reviews 4 Top Myths (and Truths) About Career Coaching

The Entrepreneur’s Source® reviews 4 top myths (and truths) about career coaching

Do you find yourself waking up each morning unhappy about the thought that you have to go work for a company and perform a job that doesn’t excite or satisfy you? Well, you’re not alone. According to a recent study, a whopping 53 percent of Americans are unsatisfied with their careers. If you find yourself in this majority, it’s time to take your career into your own hands and create a more satisfying future for yourself.

A great first step on this journey to career fulfillment is consulting with an alternative career coach to help you discover your Possibilities, Options and Dreams for what your future can hold. Career change can be scary and complex, and an alternative career coach can help to guide you through the process so it doesn’t have to seem so daunting. Working with a career coach has many benefits, but many professionals are still afraid to take the leap due to common myths that clout the industry. Today, The Entrepreneur’s Source reviews four of the most common myths surrounding the career coaching industry to help uncover the truth.

The Entrepreneur’s Source® Reviews 4 Myths of Career Coaching

Myth #1: Business Coaching is a Short-Term Process
It’s important to keep in mind that coaching is not about having to make fast decisions or about changing everything at once. Coaching is about is about helping you gain clarity about your Possibilities, Options and Dreams so that the next step in your career transition is logical. Sometimes this insight takes but a moment to develop and sometimes it takes a longer amount of time.

It’s important to go through your career transition at your own pace, and a coach will be there for you no matter the duration. Coaching is about self-discovery, no matter how fast or slow you need to go. Depending on the individual who is seeking a coach, the amount of time spent working with a coach can vary greatly. Career coaching is something that can be tailored to the individual, and during the Discovery Process at The Entrepreneur’s Source clients have total control over how long this process takes.

Myth #2: I Don’t Need a Coach Because My Friends and Family Can Advise Me
Although family and friends can be a great resource to turn to when making big life decisions, they oftentimes aren’t objective in the advice or opinions that they give you. In fact, family and friends oftentimes unknowingly hold us back from reaching for and achieving our dreams by providing one-sided, self-serving and biased advice due to fear, uncertainty or simply lack of knowledge. On the contrary, there is value in engaging a third party perspective, like that of an alternative career coach because they’re likely more objective since they are detached from the outcome.

At the end of the day, it’s a career coach’s job to help their clients uncover their Possibilities, Options and Dreams – no matter how radical they may seem. Coaches are there to guide you through all of these possibilities to zero in on the one that will lead you to your ultimate goals. Coaches at The Entrepreneur’s Source are trained professionals in this process.  Allowing them to guide you through your journey of discovery can be a great resource in addition to what your family and friends can bring to the table.

Myth 3: I Tell My Coach My Career Frustrations, and They Give Me A Solution
This is one of the most popular myths of the career coaching industry. Yes, clients express their frustrations to their coaches, but it isn’t a coach’s job to tell someone exactly what to do. You may find yourself at a point where you want your coach to tell you exactly what to do, but this most likely won’t lead to empowerment. Coaches can’t and won’t simply give their clients all of the answers or tell them what to do. There isn’t one set way to go about solving career frustrations because we are all unique human beings with unique goals, needs and expectations.

Instead, the client and coach work together to collaborate and come up with the best choices for that unique individual and his or her situation. Alternative career coaches are trained in helping ask their clients questions to allow them to better to explore their dangers, opportunities and strengths and learn about vehicles that can help them accomplish their Income, Lifestyle, Wealth and Equity (I.L.W.E.) Goals. From here, the client will answer these questions which will help set them on their path to career change.

Myth 4: Coaching Is Too Expensive for Me
Coaching can be very expensive, but it doesn’t necessarily have to be. It really is about return on your investment. At the end of the day, investing in a coach is only expensive if there is no ROI. However, the ICF Global Coaching Client Study found that clients that seek career coaching as a method to get ahead report a median ROI of 3.44 times their actual investment in coaching.

At The Entrepreneur’s Source®, alternative career coaches will never charge for their time. There may be a book or a resource they suggest you invest in, but that is entirely up to you. All they want is your commitment to be coachable and open to possibilities.

Are you ready to turn your career around? Contact an alternative career coach today at The Entrepreneur’s Source® to get started on your journey to career fulfillment http://www.entrepreneurssource.com/blog/contact/.

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The Entrepreneur’s Source Reviews: Financial Planning for Your Career Transition

The Entrepreneur’s Source Reviews How to Financially Plan for Your Career Transition

Many individuals have the desire to build wealth and equity for themselves rather than working hard on someone else’s dream. They like the idea of becoming self-sufficient through business ownership, but have trouble answering the question “How do I make this happen from a financial standpoint?” Not only is this question oftentimes troublesome to dig into, but aspiring business owners similarly have to ask themselves “How do I fund my transition from Employment to Empowerment while still maintaining the financial necessities of running my household? Intentionally leaving behind a steady paycheck, even with the prospect of career autonomy on the horizon, can be a financially frightening idea. Due to this fear, many of us find ourselves staying in our comfort zones and remain dissatisfied in our careers.

Financing is a major concern for many individuals looking to improve their career paths, but it’s important to remember that your investments can be moved around. Just like other fears and barriers you may have already encountered on your journey of discovery toward self-sufficiency, the money question is one that could be dealt with in a variety of ways and eventually overcome. Today The Entrepreneur’s Source reviews how you can set a financial plan and consider your financing options to help you move in your career transition.

The Entrepreneur’s Source Reviews How To Set a Budget
The first step in planning for your career transition is to properly set a budget for yourself and your family. Take time to sit down and draw up a monthly budget, figuring out exactly how much you and your family will need in order to maintain your lifestyle with all of its necessities and activities. Once this has been established, ponder what is possible for you to cut out or live without for a short period of time. Although you probably don’t want to move backwards and temporarily scale back, oftentimes a transitory sacrifice can lead you to your greater goals and aspirations.

Setting a budget with some temporary cutbacks will help you better determine whether or not you have enough to see your family through a possible career transition. However, it’s important to remember that you don’t have to be in this process alone. Although setting a budget and sticking to it is necessary, there are a variety of other ways to get through a career transition if simply cutting your budget doesn’t leave you enough room to embark on your journey.

Consider Your Funding Options
Just like with any other major investment like buying a house or a car, there are funding options for investing in a business or franchise, and many individuals simply aren’t aware of them. There are a variety of options for aspiring business owners such as securing a small business loan, angel investing and securing funds through friends, family or outside investors. There should be no shame in seeking out help when trying to create a better and happier future for your family, so considering assistance should be embraced if offered.

Many people tend to invest in reactive opportunities, like the stock market and real estate. These types of investments are dependent of outside factors, ones you can’t control. Business and franchise ownership is different.  It is a proactive form of investment, by investing in yourself and your future, you directly get to affect the results and your ROI.

Oftentimes people are not aware of the strategies available to them to finance a franchise or business.  The key is to become educated about and learn more about non-traditional forms of funding that you may not be aware of. For instance, most people who have a 401k don’t think they can leverage it without a steep financial penalty. However, many small businesses today are got their start with what is called a 401K rollover. Other options often overlooked or simply not considered are things like whether you qualify for a veteran discount or a small business loan through the SBA.

Many of us fear utilizing our own capital because we don’t want to be left completely depleted of our resources if things take a turn for the worse. However, looking at it from this perspective will never allow you to truly invest in yourself or your future. Moving some of your reactive investments that compromise your control to more proactive investments like a business or franchise can help move you toward financial independence rather than depending on outside factors. When you invest in yourself, you have complete control over your finances and your future.

For more information about the finance your career transition, contact an alternative career coach at The Entrepreneur’s Source franchise today!

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The Entrepreneur’s Source: A 5-Step Awareness-and-Action Plan For Conquering Your Career Frustrations

The Entrepreneur’s Source: A 5-Step Awareness-and-Action Plan For Conquering Your Career Frustrations

 

Whether they’re big or small, we all suffer from career frustrations. However, you have to look at your options. Is there enough of an upside for you in your current career to tolerate staying with your job? Many people feel like they have no options and therefore have no choice.  You can either ignore your frustrations and risk becoming a victim of Battered Career Syndrome, or you can proactively try and work through your frustrations. For most people, the latter of the two options is the better solution to the problem, but working through your career frustrations isn’t always easy. Today, The Entrepreneur’s Source reviews five simple steps to help those suffering from Battered Career Syndrome break free from their career frustrations.

Step One.    Determine the root of the problem
Many individuals working in corporate America find themselves frustrated with their careers but never take the time to pinpoint just what is making them tick. Because of this, the first step on your journey of discovery is to take some time to get to the root of your frustration.

  • Do you feel as if you’re being overworked?
  • Do you travel too much?
  • Do you feel underappreciated by your boss?
  • Are you disengaged from your work?
  • Do you feel like you are working really hard and others get to capitalize on your efforts?

Establishing just what is making you unhappy at work is the only way you can work toward finding a solution to overcoming your frustration and thrive.

Step Two.    Identify the change that needs to be made
Now that you’re establishing just what the issue you’re having is, you can begin to identify how your feelings could change. For example, if you feel as if you’re disengaged from your work, then it’s time to brainstorm why that is.

  • Have your goals and priorities changed?
  • Has the job or management or the industry changed?
  • Is there hope for you to become reengaged?
  • Would speaking to your manager and vocalizing your frustrations help?

The only thing you have to lose at this point your happiness, your continued success and longevity at the organization depends on it. While brainstorming, maybe you’ll come up with a resolution or perhaps the conclusion will be that your current job has no more potential to satisfy your career and goals. Finding the solution to what can solve your frustrations will help you in determining your next steps.

Step Three.    Let your voice be heard
You most likely won’t benefit from keeping your career frustrations to yourself. Sometimes other people hold the power in whether or not you can ultimately make the change that’s needed to become satisfied in the workplace. Once you’ve identified the change you’d like to be seen made, go to your higher-up and bring up your frustration and your proposed change. Whether or not they get on board with the proposition is in their hands, but you’ll probably regret not asking and risking forever lamenting in your frustrations.

Step Four.    Make a change
Once your concerns and proposed changes have been heard, it’s time to come up with a plan of action. If your manager is on board with your suggested changes, you may be able to create a plan of action to set you up on the path to make the change.

In an ideal world, all of our bosses would agree with our concerns and proposed plans of action to reach career happiness. However, you do face the risk of having your higher-up not wanting to accept your proposition. If this is the case, then there are two routes you can take. You can either stay in your current position and continue to suffer from career frustrations, or can make a change to find an alternative career. And keep in mind, change is not always easy, but often well worth it. Giving up on a desired result in the short term is almost always easier than exploring options outside your current comfort zone that will ultimately give you what you say you want.

Step Five.    Seek outside help
Oftentimes, seeking out professional alternative career coaches to assist you in overcoming your career frustrations and finding an alternative path to success is a wonderful resource for those suffering from Battered Career Syndrome. Collaborating with a career coach can help you identify your frustrations to better determine what you’d like your future to look like.

Alternative career coaches at The Entrepreneur’s Source are trained in helping their clients identify their Goals, Needs and Expectations alongside their Income, Lifestyle, Wealth and Equity (I.L.W.E.) Goals so they can better envision what their ideal future would look like. A coach can be your best supporter, when doubt starts to creep in, they will help you put things in perspective and you’ll be empowered and gain confidence about your abilities and possibilities.

For more information about how a coach at The Entrepreneur’s Source franchise can help you overcome your career frustrations and find an alternative route to career happiness, contact a coach today http://www.entrepreneurssource.com/blog/contact/.

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