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The Entrepreneur’s Source Asks: Should You Stay or Should You Go?

The Entrepreneur’s Source Asks: Should You Stay or Should You Go? As 2019 gets underway and with the worst year for U.S. stocks since 2008 in the rear-view mirror, thousands of employed Americans are hitting the “reset button” and going back to being uncertain about their professional futures. The only real constant in business today is there is no such thing as “job security” in the corporate world, as corporations are only loyal to their bottom lines.

The lack of control in today’s “Yes-Boss Culture” and the constant threat of being downsized, right-sized, or capsized have  71% of workers in the United States either actively looking for new jobs or putting the topic at the top of their mind and hoping for something better.

So what’s the move here? Job hopping with no guarantees and a definite endpoint, usually not of your choosing?  Staying put, waiting for the inevitable blade? Waiting to be told, “We’re eliminating your department/position”? Or betting on your skill sets, drive, and desire for something better to make a real career change?

We must run our careers differently. It’s time to take control of your professional life by creating  Your Career 2.0® and taking a deep dive into exploring business ownership. 

Terry Powell, the CEO and Visionary Founder of The Entrepreneur Source®, North America’s leading career and franchise business coaching company, says, “We want people to stop settling for the ‘New Normal!’ Job security is a thing of the past. Working longer for less is what the corporate world demands today.”

Should I Stay or Should I Go?

At The Entrepreneur’s Source®, we call this ‘The Battered Career Syndrome®,’ and for too long, Americans have bought into the notion that they can’t leave a job and must make constant trade-offs to keep it. But it can be done, and all it takes is an unflinching look at your current position, and the Income, Lifestyle, Wealth, and Equity (I.L.W.E.) goals you could have by becoming your own boss!”

The Entrepreneur’s Source® can offer that education, awareness, and discovery through Your Career 2.0® and our network of award-winning alternative career coaches. They are highly trained, and many have been right where you were: at the same career crossroads, choosing to become empowered rather than just employed. They have the “cred” to shepherd you on your Journey of Discovery.

If you would like the opportunity to gain more control over your professional life while enjoying the Income, Lifestyle, Wealth, and Equity you deserve, The Entrepreneur’s Source® wants to talk to you.  Just complete all five steps of FranchiseMatch® to take the first step toward your new alternative career.

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The Entrepreneur’s Source: How To Successfully Define Your Franchising Goals

How To Successfully Define Your Franchising Goals. Written by Terry Powell, Visionary Founder of The Entrepreneur’s Source. Originally Published in Forbes: Oct 23, 2018.

Many people dream of starting their own businesses, and a lot of people follow those dreams through franchising. It’s a business model that people love, and for good reason. When you invest in a franchise, you’re investing in a proven business model.

But before you invest in a franchise, you need to get to know it first, and even more so, you need to know yourself. What are your goals, needs and expectations? Furthermore, have you thought about what your income, lifestyle, wealth and equity (ILWE) goals are? These are all great questions to ask yourself as you explore business ownership.

It takes a lot of time, soul-searching and number-crunching to fine-tune these goals. I know; I’ve coached countless franchise owners on this. But if you want a quick crash course, zero in on the following.

Income

Think of this as your short-term earning goal. What do you want to be earning in a year or two, during the early stages of being a franchise owner? Whatever franchise you invest in, ideally, it’s going to be something in which you can achieve the type of yearly income you’re seeking. If, for instance, you have modest income goals for the moment, a franchise that takes a while to ramp up and see profits might work out fine. If your income goals are pretty substantial, then clearly the franchise you invest in should generate revenue that reflects that.

Lifestyle

How do you see your day-to-day life once you’re a franchise owner? Do you see yourself immersed in your business, working from sunrise to sunset and potentially weekends? Or do you see yourself delegating key tasks to great people you hire, letting managers and employees do most of the heavy lifting so you have more time to do the things you enjoy most?

Everyone has their own ideas, often based on where they are in their lives and how involved they want to be when running a business. But not all franchise businesses will allow you to live the way you want. So, whatever franchise you choose, make sure it’s going to offer you the freedom and flexibility you need for the lifestyle you want.

Wealth

You’re probably wondering how “wealth” is different from “income.” These are your long-term earning goals. For instance, you probably want to earn enough income in the short term so that you can put a healthy amount of it aside and grow it through investments.

You also want to think ahead and ask yourself if you want one franchise or if you want several (which connects us back to “lifestyle”), since owning several will likely lead to far more wealth.

Equity

These goals involve debt. Nobody wants debt, of course, but when you invest in any business, you’re likely going to carry some. How much debt are you comfortable carrying, especially if you own more than one franchise? How fast do you want your debt to be paid off?

Those are also some important questions, and it’s a strategy that you’ll want to develop to help make sure that your “wealth” goals are achieved. That’s because the equity side of the equation involves the assets you’d like to build through your new business. The quicker you can eliminate debt and take ownership of more of the business (including the building, inventory, etc.), the stronger your equity.

It all sounds easy enough, I realize, but franchising is a commitment. Outlining your ILWE goals correctly is vital as you explore business ownership. Do that, and you can find the right franchise match.

Take the first step. Use Your Career 2.0® and The Entrepreneur’s Source® as your Guide. 

The Entrepreneur’s Source® can offer the education, awareness, and discovery through Your Career 2.0® and our network of award-winning alternative career coaches. They are highly trained, and many have been right where you were: at the same career crossroads, choosing to become empowered rather than just employed. They have the “cred” to shepherd you on your Journey of Discovery.

If you would like the opportunity to have more control over your professional life, while enjoying the Income, Lifestyle, Wealth and Equity you deserve, The Entrepreneur’s Source® wants to talk to you. Just go to http://www.entrepreneurssource.com/about_us.html to take the first step toward your new alternative career.

And for those of your interested in Your Career 2.0®: A Survival Guide for the Battered Career Syndrome®, please visit, https://www.amazon.com/Your-Career-2-0-Survival-Battered/dp/1501025848.

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