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The Entrepreneur’s Source: 10 Tips to Achieve Self-Sufficiency from Terry Powell

The Entrepreneur’s Source: Your Career 2.0 – 10 Tips to Achieve Self-Sufficiency from Terry Powell

Originally Published in Forbes, 2/8/182018 is well underway, the economy is booming, but millions of Americans are still anxious about their professional future. Job security has become a dark punchline, or an oxymoron, like “jumbo shrimp”.   The only real constant in business today is the “constant threat” of people being downsized, right-sized, or capsized, as corporations try to wring every bit of profit from their bottom lines. So, what’s the move here? Stay in a job with no guarantees, and a definite end-point, usually NOT of your choosing?

Maybe it’s time to take control of your professional life by creating “Your Career 2.0” – taking a deep dive into owning your own business. Risky? There’s risk in everything. If there weren’t, EVERYBODY would be working for themselves! But is it riskier to stay put, waiting for the inevitable blade, or to bet on your skill sets, drive, and desire for something better, to make a real career change. Toward that end, I’ve prepared ideas to help you start formulating a strategy toward “Your Career 2.0.”

Here are 10 Tips to Help You Achieve Self-Sufficiency

  • 1. Discovery- What are your passions? Are you willing to put the money, time, and effort into “Your Career 2.0?” What business would be the best fit for you and your goals? What are the challenges you will face? Are you even cut out to be your own boss? It’s all part of your “Discovery Process”, examining every angle, searching for real, gut-honest answers. This is one area you can’t be honest with yourself.
  • 2. Guidance- It never hurts to have another set of trusted eyes helping you on this process of self-sufficiency. That’s why I have a swing coach for my golf game. Doesn’t it make sense to have an adviser to help you in this journey? You will need someone who will look out for you, help you examine every aspect of opportunities in an unbiased manner, and point out the things you can’t, or refuse to see.
  • 3. See Your Success- I’ve always been a believer in “See it. Believe it. Achieve it.” We have the capacity to visualize our success, just like great athletes “see” the positive outcome of a play before it happens. So, what is your vision of success? Greater, disposable income? More time for family and friends? Enhanced lifestyle? “See” your success, then write your vision down to turn it into easily articulated goals…but be prepared to REALLY work to achieve them.
  • 4. Embrace the Danger- Five years from now, staying on your current career path, will your life be better, the same, or worse? What happens if I lose my job? Can I really build wealth and equity I want for my family in this job? These are some of the questions you must answer, with clear, unblinking resolve, to help you formulate the plans and goals to combat the fears, control your own destiny, and empower you to create “Your Career 2.0.”
  • 5. Be Open to Opportunities- You may have a real passion for cooking, and think owning a restaurant would be a great business opportunity. You’ve “locked on” to this to the exclusion of everything else. What’s the rush?  Take the time to examine ALL your options. Maybe even dip a toe into a side job you believe would be a great business to own while you’re still in the corporate world. You may find it’s not all you thought it might be.
  • 6. Celebrate Your Strengths- Take stock of your strengths: job successes, solid work ethic, accomplishments, high integrity, positive attitude, and adaptability, to name a few. Every one of those characteristics can be used in your strategy to “Your Career 2.0”, helping you write a powerful, personal success story.
  • 7. Career Choices- Being an independent business owner means it’s all on you, everything, including business and marketing plans, finding customers, dealing with vendors, etc. Usually, there’s no real support system, either. Franchising might be a better option. It offers the advantage of working from a set, proven system, and replicating that system, with a lot of internal/external support. However, franchising isn’t for everyone, and there are tools to help you find out if you’re even a fit to go that route.
  • 8. Overcoming Family Objections- It has been my experience that some of the biggest obstacles to “Your Career 2.0” are your own family, or friends. They can’t comprehend why you want to leave the security(!) of your traditional job and they voice their concerns. To combat their understandable misgivings, it is very important you share with them your process, helping them see your vision, and the careful, strategic, steps you are taking to realize that vision. When they grasp that, they’re much more likely to provide positive reinforcement and encouragement.
  • 9. Financing Your Future- Ah, the elephant in the room: funding your dream. There are MANY options, which don’t include asking a rich uncle for the money. Your 401K could be one way to go, as a “pro-active” investment. For example, even if you are younger than 59 ½, you can take loans from those dollars, without the 10% penalty (however, the money is taxable). Your financial advisor can show you how. Also, if you choose to buy a franchise, the franchisor could offer to finance the entire franchise fee, or significant part of it, as well as other costs, sometimes at simple interest.
  • 10. Beginner’s Mind- You must be willing to abandon all pre-conceived notions about business ownership, while being curious and open to new information. It’s all about exploration now, not decision-making. Also, never worry about failure at this stage as you examine different business ownership concepts. Remember, Edison tested more than 1,000 light-bulbs before he found the right one. But he also used each failure to learn more about the process, which eventually led him to illuminate the world.

Here’s to your success on your journey to “Your Career, 2.0”!!!!

For more information on The Entrepreneur’s Source, please visit http://www.EntrepreneursSource.com/.   About The Entrepreneur’s Source®.  Established in 1984, The Entrepreneur’s Source has been North America’s leading alternative career coaching franchise dedicated to the entrepreneur for more than 34 years.  The Entrepreneur’s Source offers in-depth advice to individuals striving to become self-sufficient with the release of our new book, Your Career 2.0: A Survival Guide for The Battered Career and Investor SyndromeThe book is a thoughtful examination of how you can make your dreams of self-sufficiency a reality. Authored by Founder of The Entrepreneur’s Source Terry Powell and E-Source alternative career coaches, the book is a must-read for any individual who has ever considered taking the path less traveled and embarking on the journey to small business ownership.

For more information about The Entrepreneur’s Source, please visit http://www.EntrepreneursSource.com/. The Entrepreneur’s Source is a trademark of TES Franchising, LLC.  All rights reserved.


The Entrepreneur’s Source: Spring Forward to Start a Business Weekend

Spring Forward to Start a Business Weekend®…and Your Career 2.0®! Here at The Entrepreneur’s Source, we always look forward to “springing ahead” to Daylight Savings Time. It’s a harbinger of spring, a time of renewal.

Another harbinger of spring: The Entrepreneur’s Source® (TES) Start a Business Weekend®! It’s happening this weekend, March 8-10. It’s the largest Franchise Virtual Expo of its kind in the country.    

Start a Business Weekend® offers thousands of people their own opportunity for personal renewal: leaving behind their Battered Career Syndrome to become a franchise business owner, and to have more control over their professional destiny. For three days, individuals will be able to directly connect online with more than 175 franchise companies, as well as experienced, successful coaches from TES, to help guide them through the process at no cost.

6 years ago, we wanted to do something which would marry virtual technology with those who have an entrepreneurial spirit.  We wanted to make it as easy as possible for them to have the one on one experience they couldn’t get at a huge job fair, or Franchise Expo, right from the desk/computer. TES Start a Business Weekend® has succeeded in accomplishing that beyond our wildest dreams, and we have seen many client success stories spring from our virtual experience!

In 2017, we had another record breaking year with more than 7,500 attendees navigating their way through the online expo, just using their fingers on their laptop, desktop, even their I-phone.

Attendees had the opportunity to explore franchise businesses by visiting virtual exhibit halls where exhibitors from home healthcare, to food services, to automotive, had booths set up to share information with them.

Not only that, but participants could hear many industry thought leaders talk about business trends, markets, funding, and small business opportunities inside a virtual auditorium. If somebody missed a particular speaker, no problem! We had these keynotes on-demand, as well as literature ready to be downloaded at the attendees’ convenience.

This year’s Start a Business Weekend® promises to be even better, and we are anticipating an even bigger record-breaking year, helping more people moving from employment to empowerment.

Attendees will have over 175 franchise opportunities from more than 95 industries for participants to discover, ranging from health and beauty, children’s education, senior care, automotive, and B2B, to name just a few.

This year’s keynote speakers, will offer thought provoking, timely topics including “Other Options for Your Money than the Market”; “Why Small Business Ownership Offers Real Financial Freedom”; “How to Fund Your Franchise”; and “Why the Time is Right to Go from Employment to Empowerment”.

To ensure this is a true “personal experience” for the attendees, each will have their own coach assigned to them by The Entrepreneur’s Source. This is a “value add”, providing resources and education for the Start a Business Weekend® attendees looking for more guidance. These dedicated, yet unbiased, coaches work to provide education, awareness and discovery for the prospective franchisees’ through the TES Discovery Process, helping them determine if business ownership is even a fit for them. The coaches will also help the participants really capture a vision of what their Income, Lifestyle, Wealth, and Equity goals are now, and what they could be, by taking an alternative career path.

The Start a Business Weekend® event has become the gold standard for helping the new breed of business owners gain key information, insights, and initiative to be confident in owning their own business.

Maybe this is the weekend you can spring ahead TWICE – through the Entrepreneur’s Source!  If you’re interested, sign up for Start a Business Weekend® here – https://startabusinessweekend.com/.


The Entrepreneur’s Source: Catch the Wave

Franchise Sector Out-Performing U.S. Economy

Many experts predict another year of stock market strength.   Additionally, according to the University of Michigan’s monthly snapshot report on consumer attitudes, confidence in the economy is at an all-time high of 99.9.   Sure – that sounds great…but with the stock market’s roller coaster history, can we truly depend on it?   We’ve seen the DOW soar before…but how long will it last?

We think about this all the time at The Entrepreneur’s Source®, the nation’s leading career transition coaching franchise. The ongoing uncertainty and ups and downs associated with the stock market honestly make us think of something many employees suffer from each day – Battered Career and Battered Investors Syndrome.   Just like employment, instead of empowerment through business ownership, the stock market is not dependable as there are too many uncertainties.

One strong and trustworthy outlook, however, comes from franchising – the business model that fuels personal success. Franchising is expected to outperform the overall economy AGAIN this year.  According to a report IHS Markit Economics prepared for the International Franchise Association:

  • Franchise businesses will grow again by nearly 2% in 2018 to 759,000 establishments
  • Jobs from franchise businesses are expected to increase 3.7% – a .6% increase from 2017.   (Private, non-franchised employment is projected to grow less than 2% – at 1.8% in 2018.)
  • Actual dollar output from franchise businesses is on the upswing, too, projecting to increase to 6.2%, or $757 billion dollars, well above 2017 numbers.

But the eye-popper is this: HIS projects the Gross Domestic Product (GDP) of the franchise sector will increase in 2018 by more than 6% to $451 billion. That’s more than the projected forecast growth of 4.7% for the GDP of the whole country, in nominal dollars. To underscore the strength of franchise businesses, their revenues will represent 3% of America’s entire GDP in 2018. Pretty robust numbers!

These numbers are excellent, and Trump’s administration has helped…and will continue to help in 2018.

Many small business owners, franchise owners and independent owners, credit President Trump for following through on his campaign promises to incentivize small business growth.  They’re excited that he helped lower the corporate tax rate, as well as personal taxes, and found alternatives for medical coverage for these owners and their employees.  However, business owners expect the President to do more to kill off growth-stifling regulations…and it appears he’s working on it.

Bottom line for 2018 as we see it at The Entrepreneur’s Source®, the nation’s leading career transition  coaching franchise – the future is bright for franchising and the people who take control of their lives by becoming self-sufficient as a franchise business owner.

With the nation’s economy flying high, what are you doing to improve your OWN personal economy? Can the job you’re in right now,  provide you with the Income, Lifestyle, Wealth, and Equity (I.L.W.E.) you really want for your family and yourself? If you can’t see that happening, it may be a good time to talk with a TES alternative career coach.

Our coaches can help you evaluate your possibilities, options and dreams (P.O.D.) just as they have done for thousands of other seekers, empowering them to find their path to franchise ownership.   And with a rising economy and record-setting consumer confidence, now is the perfect time to ACT!

Let’s get started! Head to www.franchisematch.com and begin your path to business ownership and empowerment with The Entrepreneur’s Source®.

Bottom line for 2018 as we see it at The Entrepreneur’s Source®, the future is bright for franchising and the people who take control of their lives by becoming self-sufficient as a franchise business owner.