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The Entrepreneur’s Source Reviews – Entrepreneurship vs. Master’s Degree

The Entrepreneur’s Source Reviews – 6 Reasons to Pursue Entrepreneurship vs. Master’s Degree

In a job market plagued by low salaries, high turnover rates and virtually no job security, people are turning to alternate means to achieve their income, lifestyle, wealth and equity goals. As more people consider entrepreneurship as a solution to create a better work-life balance and achieve greater income, some also consider the pursuit of a master’s degree.

However, considering the price and the time required to obtain an advanced degree, it is worthwhile to evaluate alternative investments that can provide aspiring entrepreneurs a substantial return in the form of improved income, lifestyle, wealth and equity: franchising.

6 Reasons to Pursue Entrepreneurship through Franchising

1.      Franchising Utilizes Existing Skills

Although earning an advanced degree arms an individual with valuable knowledge and credentials, the skillset that is built from the experience of owning a business cannot be taught in a classroom.

Franchising allows individuals to take all their transferrable skills and the experience they’ve gained working for someone else, and apply it to a proactive business investment.

If an individual decides they want to invest in a franchise in a different industry than their specific work experience, the franchise will provide the initial and ongoing training and support needed to make that shift.

2.      Franchising is a Proven System

Franchisors have already figured out the kinks, making the end-user buying experience repeatable and duplicable. Franchise business opportunities provide a proven operating system that helps set investors up for continued success.

Investing in a franchise business allows you automatic entry into the successful history of that organization. With a franchise, you get a brand name and an image of quality and success.

3.      Franchising Doesn’t Require a Degree

Only 19 percent of franchisees hold an advanced degree.

Professionals in the franchise industry develop their current skillsets through running the business. Instead of investing in a master’s degree, entrepreneurs can develop their education and skills through workshops, seminars, online classes and, of course, the actual day-to-day entrepreneurial experience.

4.      Franchising is a Long-Term Investment

There are many possibilities when it comes to franchise business investment, whether it’s to build equity, have an appreciating asset, create a legacy to leave to family and children, or even eventually to become a semi-absentee owner and create some residual income.

Starting a franchise business creates unlimited income potential for not only the original franchisee, but their family for generations to come.

5.      Franchising Provides Life Balance

It’s not all about the Benjamin’s: Aspiring entrepreneurs should also consider work-life balance in their decision to pursue an advanced degree.

The number one reason most aspiring entrepreneurs go into business for themselves isn’t money; it’s lifestyle.

Earning unlimited income potential is great, but the priceless possibility of achieving the life balance often unobtainable in corporate America is priceless.

6.      Franchising can Start Now

The time and money it takes to earn a master’s degree could be spent researching, building and opening a franchise business, allowing entrepreneurs to begin building income, wealth and equity sooner.

Some studies have shown franchises have a success rate of approximately 90 percent, providing the opportunity to earn income and a return on investment fairly quickly. Earning an advanced degree may help to land a job or increase income two years down the road, or it may not.

Although there is no guaranteed return on any investment, for those considering entrepreneurship or an advanced degree, franchising may provide an opportunity for business ownership with less risk and better return.

For more information on taking the first steps toward entrepreneurship, visit: http://www.entrepreneurssource.com/

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The Entrepreneur’s Source Reviews – How Business Ownership Compares to Dating

The Entrepreneur’s Source Reviews – How Business Ownership Compares to Dating

As an Entrepreneur Source Coach and coauthor of the book Making the Jump Into Small Business Ownership, Jeff Levy helps individuals clarify their goals and values so they can properly evaluate self-employment career options.

As the first guest on The Entrepreneur’s Source Franchise Friday show, Levy shared his vast insight into small business ownership in today’s world and provided aspiring entrepreneurs wisdom into what it takes to become an entrepreneur through the franchise industry.

After a successful career as a corporate executive, Levy transitioned to a career as an entrepreneur coach and mentor, where he has helped more than 180 individuals begin their journey to self-employment and participated in more than a hundred franchise startups.

Levy shared his vast insight into the world of franchising and entrepreneurship with Franchise Friday host and CEO of FranchisEsource Brands International, Paul Segreto, including how people approach business ownership, and why they should consider a different point of view.

Finding your Franchise Match – How Business Ownership Compares to Dating

Most people approach a business almost like they approach finding a spouse—they expect to fall in love at first sight.

Maybe they spend time on the Internet, looking for that business that’s going to jump out of their computer screen, wrap their arms around them and say, “We’re made for each other.”

Unfortunately, it really doesn’t work that way. Just like a good marriage or relationship starts with a vision and is a lot of hard work over many years, a good business is the same way.

Through our coaching process at The Entrepreneur’s Source, we found that over 95% of the time the people who do move forward with business ownership do so with a concept or business they hadn’t thought or heard of before.

One of the biggest flaws that I have seen in entrepreneurs is ego. It’s easy to get a marriage license, tough to have a good marriage. It’s easy to get a business license, tough to build a good business.

Just because you have “president” on your card doesn’t mean anything. Just because you signed a franchise agreement and went through training doesn’t mean anything. It’s all about whether you are willing to spend a few years of your life like most people won’t so you can spend the rest of your life like most people can’t.

Join us on Franchise Friday – Talk Entrepreneurship, Small Business Ownership and Franchising

To find out more about working with an Entrepreneur’s Source Self-Employment Coach, visit: www.entrepreneurssource.com

Catch Franchise Friday every week at 10 AM or download now on iTunes. Follow us on Twitter @FranFridayShow and use #FranchiseFriday to join in the conversation!

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The Entrepreneur’s Source Franchise Friday – 3 Ways to Explore Franchising Using Social Media

The Entrepreneur’s Source Franchise Friday – 3 Ways to Explore Franchising with Social Media

Last week on Franchise Friday, host Marissa Ruderman was joined by The Entrepreneur’s Source Area Developer and Career Coach Mark Myette to discuss how aspiring entrepreneurs can use social media to explore franchise opportunities.

About Our GuestMark Myette

Mark Myette began his business career in 1983 and spent 24 plus years working within Fortune 500 companies. Now, as an Area Developer and Self-Employment Coach for The Entrepreneur’s Source in Atlanta, Mark does what he is most passionate about: being an adviser, connector, influencer and teacher.

Mark earned his undergraduate degree from Boston University and holds an MBA from Emory’s Goizueta School of Business. He is also a Certified Professional in Learning & Performance from ATD. Mark also enjoys running marathons—he has completed a total of 11 so far!

Social media has become one of the driving forces behind aspiring entrepreneurs’ research in business opportunities, so Mark has outlined three ways you can utilize multiple platforms to help uncover information about the franchise industry.

3 Ways to Explore a Franchise Opportunity using Social Media

1.    Consult your Circle of Influence

In the days before Google and social media, the first place you went to find information was family, friends, neighbors and colleagues. Even in today’s digital age, people have a tendency to use these contacts, or circle of influence, as a resource for information, trends and news.

The difference in consulting your circle of influence today is that you can see what your friends, family, co-workers, colleagues and associates are reading, viewing, sharing and talking about all from the comfort of your computer just by scrolling through social media.

When someone you follow likes a Facebook page, a blog post, a white paper or an infographic, it’s essentially seen as a referral. This content appears in your feed, and has an almost “grass roots” effect within your social circle.

Apply this rule of thought to investigating business investment options by starting your franchise within your own circle of influence. Ask for references and find new ideas by taking social media a step further and utilizing social media channels as a way to investigate a brand or concept.

Is there positive reinforcement or do people share positive experiences about that brand? By the same token, have many people shared a less than favorable reaction or experience with the company? The social engagement a franchise brand has with their not only their franchisees, but their customers as well, is often a good place to start when researching a brand using social media.

2.    Join the Entrepreneur Conversation

Depending on which social media channels or outlets you have built a presence on, beginning to engage with an industry or interest related discussion group can be a great way to learn more about a franchise business opportunity.

For example, there are thousands of LinkedIn groups, including those that specialize in entrepreneurship, small business ownership and even franchising. Chances are there’s a LinkedIn group covering a topic that resonates with your franchise search, whether it’s quick-service restaurants, home-based franchises or B2B services.

Simply start by typing in a keyword or phrase related to your specific interest into the LinkedIn search bar, and search under the “Groups” option. Join a few different groups related to industries and franchise investments you’re interested in to receive more informational content and advice from industry experts, thought leaders and likeminded individuals.

Another tool to keep tabs on the entrepreneurial conversation is Google Alerts. Say you’re interested in investigating home-based franchise opportunities; you can setup a Google Alert to keep you updated on specific keywords or phrases, like “home-based franchises,” or broader terms like “investing a franchise” and Google will alert you when new content is posted online.

You will begin to receive notifications via email with links to articles, blog posts, radio programs and other resources that have been made public on the Internet. You can receive updates weekly, daily, or as-they-happen, bringing the information straight to your inbox.

3.    Connect with a Coach

LinkedIn is a powerful channel from the standpoint of networking professionally. You don’t have to wait until you know someone to begin a professional conversation. If you find yourself reading an informative article from a LinkedIn member posted in a group you joined, message them and ask to have a brief discussion to learn more.

I personally have received a number of LinkedIn invitations from those involved in franchising industry groups, hoping to learn more about how to find a franchise business opportunity. I will not only accept the invitation, but I will message that individual with an invitation to have a follow-up conversation to learn about them, what they do and what they’re hoping to accomplish.

I educate them about the services The Entrepreneur’s Source provides, like a free discovery experience, to help them figure out if business ownership is something that would make sense for them. Social media, whether it’s through LinkedIn or some other avenue, can be a great environment to have a no pressure, informative conversation with an industry expert. If the individual has established a degree of credibility and is known as a resource, the only investment you make is the time you take to learn about those opportunities.

Join Franchise Friday

Listen to the full episode of Mark’s Franchise Friday Show or find out more about working with an Entrepreneur’s Source Self-Employment Coach at www.entrepreneurssource.com

Catch Franchise Friday every week at 10 AM or now available on iTunes! Follow us on Twitter @FranFridayShow and use #FranchiseFriday to join in the conversation!

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The Entrepreneur’s Source Reviews the Truth Behind a Top Franchise Myth

The Entrepreneur’s Source Reviews the Truth Behind a Top Franchise Myth 

Did you know that about 75 percent of the population has a desire to take control of their own destinies, but only about 5 percent are ready, willing, and able?

For the 70 percent looking for guidance, education, and advice, a good business coach can help an individual overcome the preconceived notions—like what they think they are good at, what they would like to do, or even what their brother-in-law told them is the “hottest” investment.

For example, one of the most common myths in franchising is that a person has to love a product or service in order to capitalize on it. Franchise coaches can help individuals to realize a business is just a vehicle to help them get to where they want to go.

There are a lot of ways to build income, wealth and equity, and the beauty of working with coaches is that they can open aspiring entrepreneurs to possibilities, perhaps associated with industries they may not have previously considered. In fact, 95 percent of The Entrepreneur’s Source clients wind up discovering an opportunity they had previously dismissed or otherwise would not have considered.

Remember: There are a lot of different opportunities to make money, and a business is just a vehicle to get to where you want to go. A franchise coach can help to identify what business is going to be the best for your income, lifestyle, wealth, and equity goals.

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The Entrepreneur’s Source Reviews 5 Ways to Thrive in an Entrepreneurial Economy

The Entrepreneur’s Source Reviews 5 Ways to Thrive in an Entrepreneurial Economy

“We are in an entrepreneurial economy. Whether you’re working in corporate America or not, you have to possess an entrepreneurial mindset in order to really stand out from a very competitive work force and business environment.” –The Entrepreneur’s Source Coach Susan Mell

On last week’s Franchise Friday show, host Paul Segreto was joined by self-employment and The Entrepreneur’s Source Coach Susan Mell. Susan’s background includes 30 years of experience as a business owner—her first business in the wireless industry included four retail locations, 42 employees and $3 million dollars in annual sales. Across the past 12 years, Susan has become a successful multi-unit franchisee, with eight franchise locations and five independent contractors throughout the country.

The Entrepreneur’s Source has found 75% of people want to be self-employed, but only 5% are ready, willing, and able to transition into business ownership. Susan shared her insight on today’s franchise candidates, and how people are finding entrepreneurial success through franchising.

Below are 5 ways to thrive in the entrepreneurial economy through franchise business ownership.

  1. Franchising allows you to take all the skills you’ve learned working for somebody else and use them in your own business. If you decide you want to invest in a franchise in a different industry than your specific work experience, the franchise will provide you the initial and ongoing training to help you make that shift.
  2. The number one reason most aspiring entrepreneurs go into business for themselves isn’t money; it’s lifestyle. Being your own boss, controlling your own destiny and earning unlimited income potential is all great, but the priceless possibility of being able to have the life balance you can’t achieve in corporate America is often more important. Franchise ownership allows you to own your own business, without being in business alone.
  3. Starting a franchise business creates unlimited income potential for you and your family. There are many possibilities when it comes to franchise business ownership, whether you aspire to create a business where you can build equity, have an appreciating asset, build a legacy you can leave to their family and get your children involved, or even eventually become a semi-absentee owner and create some residual income.
  4. In this entrepreneurial economy, it makes sense to reallocate a portion of your investments to a proactive side. Franchise business ownership makes good diversification sense. Franchise businesses are a proactive investment, which means investors often experience a more reliable return on investment.
  5. Investing in a franchise business allows you automatic entry into the successful history of that organization. With a franchise, you get a brand name and an image of quality and success. Franchisors have already figured out the kinks, making the end-user buying experience repeatable and duplicable. Franchise business opportunities provide a proven operating system that helps set you up for continued success.

For more information on taking the first step toward entrepreneurship, visit http://www.entrepreneurssource.com/

Tune in at 10 AM ET every Friday for more insight on franchising, entrepreneurship, and small business ownership on Franchise Friday at http://www.blogtalkradio.com/franchisefriday

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