POVLITZ Inc | Business and Entrepreneur

With the ongoing job market and economic conditions many former business executives are looking for alternatives to traditional jobs. In many cases the need to find an alternative may not be voluntary, since so many employees have become victims of downsizing. Without an understanding of what it takes to start a company or what alternatives are available, many former employees have discovered the myriad benefits of franchise ownership. Who do you turn to and where do you look to learn how to start your own business? This post will provide an overview of some choices available to the person looking to get into a franchise-type business for themselves.

Most workers who have been part of a company for any amount of time begin to tie their very identity with the job function or job title. The longer you have been in a position, the easier and more natural it becomes to think of yourself in terms of what you do. For example, “I’m Joe – VP of Compliance” or “I’m Susie, Engineering Specialist.” More and more we think of ourselves in terms of what we do for a career. Think of how often someone asks, “What do you do?” and how naturally and easily we just recite our job title or description. This tie we develop with our careers can become quite overwhelming, and the personal impact profound if and when the tie is severed. The first time someone asks “what do you do?” or you catch up with a friend you have not spoken with for awhile, you may understand how much of your sense of self is no longer just “what you do/did.” Awareness of this and your ability to handle the mental reframing that takes place will help make your career transition easier.

By this point you have probably gained an understanding of some of the mental changes that will take place as you change from employee to business owner, but the main question remains – what kind of enterprise is right for you? Most individuals do not know how to start a business. For many people in this situation, a small business franchise becomes the best option.

While considering your best options, you may start by thinking of the true reasons businesses exist. No – it’s not to make the company owner money, although you receive payments for the service you provide, which is the real purpose of a business – to provide service. Clients and client needs should be the starting point for getting business ideas. While you may look at a business venture from the point of view of what you stand to gain, you will not have a business without being able to serve customers. Many would-be entrepreneurs have failed due to ignorance of this fact. In terms of how you provide service to others, one way to start would be to perform a thorough inventory of your skills. Part of the joy and excitement of business ownership is finding your true purpose. No matter your background, chances are good that you have something unique and valuable to offer others. The real reason we are all here may indeed be to find how to help others!

Whether you become a consultant, buy a small franchise opportunity or find a product or service to promote, chances are good that people are in need of your unique talents and offering. As mentioned previously, buying a franchise is increasingly common for both first-time and experienced entrepreneurs; they provide a ready made business with proven systems and products with existing demand. In these ways typical questions involving the business structure, products, price, compensation, etc. are already taken care of. Provided you’re able to find a suitable franchise business in an industry you’re interested in, the inevitable ramp-up period is greatly reduced compared with a business you may have otherwise planned on your own. One possible barrier for many people are franchise start-up costs. Franchises exist in a wide variety of price points, from less than $2000 to over $1 Million. Once you’ve established your goals, determine your budget and begin looking into available alternatives. Enjoy the journey of finding your real lifepath.

In conclusion, be aware of some of the mindset changes that take place as you change from a regular work environment to self-employment or business ownership. Understand the extent to which your sense of identity may have been tied to your former job title or duties and begin to shift your mentality to enable the necessary changes to occur. Consider the benefits of a franchise if you’re looking for a turn-key type of business to start. Franchises allow you the chance to “hit the ground running” with a proven business. Finally, embrace the challenge and thrill of finding your true purpose and finding how best to provide service.