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.
- 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.
- 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.
- 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.
- 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.
- 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