Have you ever thought about being your own boss? By becoming an entrepreneur and opening a franchise for an established business your dream can be closer than you think!
Do What You Enjoy
Doing something you love is one factor to make it as a successful entrepreneur. Plenty of time and effort has to be invested in any venture for it to become a success; therefore, if you don’t like what you’re doing you might slack off and not allocate the time and energy necessary to make it grow and prosper.
Don’t listen to friends or relatives who may not take you seriously. Confidence in your abilities will get you through the tough times – so focus on the positives and stay away from the negatives.
Develop a Plan
Do your research and develop a plan. Sitting down and writing out the steps involved to make your dream a realization is a method that turns the idea into an active, concrete venture.
Your goals will be in black and white to keep you focused on what has to be done to get your business going. You will know the resources necessary and how to obtain and maintain them.
Cash flow is one resource that requires careful planning for start-up costs and enough to get you established while you create a loyal customer base.
Becoming a wise money manager is a huge factor in the success of any business. In your business plan make sure to include overhead costs that factor in inventory, wages (including for yourself!), equipment costs, marketing and other essentials.
A contingency fund is a protection against unforeseen circumstances and repairs or upgrades that pop up. Keeping this fund isolated from other cash supplies is an added safeguard for your success.
Consider a Franchise
As a franchisee you can take advantage of an established business model and trademark product or service. In a franchise you agree to pay a royalty to the franchisor for use of the trademark and a training or management fee. You will have a direct financial stake in the business.
Consumers will recognize the service or product which may aid in lowering marketing or promotional costs. Customers do; however, have to know you are open for business and where you are located, so some marketing costs do have to be included.
Many U.S. businesses offer opportunities for franchising including Miracle Ear. By checking out the Miracle-Ear Entrepreneur page you will see additional details how a franchise can benefit beginning entrepreneurs.
Customers Come First
Getting to personally know your customers is an edge small business owners have over big companies. Entrepreneurs usually have direct contact with their customers which will allow them opportunities to build personal relationships.
Repeat business is a large percentage of a business’s customer base and it’s positive relationships that contribute largely to building that base.
You get first-hand information on what your customers are looking for and want. Strategize your business procedures to focus on the customer.
Set your hours, options for payment, warranty guidelines and other policies to promote the focus provided by your clientele.
Constructing a plan that addresses every factor you know or can possibly foresee is a springboard to turn your envisaged venture into a real entrepreneurship.
Gail Gardner
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I agree with above point yes being an entrepreneur you are your own boss although it provides you a lot of flexibility .You still have to put hard work in it in order to really make a handsome profit and drive your company to success.
It is an entrepreneurship myth and owning your business, you are the boss. You really are the boss but do not expect to not do anything like a boss. you will have to work your ass off.
Opening a franchise can be a great way for anyone who is looking to be an entrepreneur but is unsure they can sustain a business with no backing. Franchises come with a proven business model and just need good location and management. Thanks for sharing.
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Yes, An entrepreneur is really the boss but the hard boss who have to be responsible for everything in the company.
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Becoming an entrepreneur was tough, because there is so much responsibility and things to do that falls on me. Starting my own business was tough, but it is constantly getting better as I read up on tips like this to become more aware of how others successfully run their business.
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When I was working in corporate America Gail I never really thought anything of it. I was raised into believing that you had to work for someone else and usually the only way to really making it was to become a doctor or a lawyer.
It wasn’t until I left corporate America and decided to try my hand online that I realized what a crock that whole thing was. All of the companies that are out there today started with one person and a vision. They grew to something much larger but it was all theirs.
I know at times it can be a hard road to take but you have control over it’s future and the way things are going I believe it’s the only way to go.
~Adrienne
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The big boss that doesn’t give shortcut on all success! Live by the true spirit of an entrepreneur!
being the boss is great mission and hard at the same time because the boss should always be in charge and make big desicion and controle all the emplyees so he must be hard working and this my dream ..hoping one day i became boss so thanks a lot for this awesome article good one 🙂
I agree in the current economy, Running your own business is the only way to go in my opinion. Too many people becoming made redundant, it’s a shambles! I started my business over 2 years ago, Now I have 6 staff members, and still growing. The beauty is my business is purely online, meaning no real overheads that you get with a traditional brick and mortar business.
Indeed it’s great career for start, we could be our own boss and also have capability to give jobs to others.thanks
Hey Gail,Nice article. Particularly liked the point about not listening to friends and family who don’t take you seriously. You have to filter out the naysayers who tell you that you’re a dreamer or that what you are doing won’t work.Have belief in yourself and things can and will work out if you put the effort in.Thanks
When i first graduated and start my work as employee of one IT company I always complaint my boss and want to be my own boss but now I open one IT design company and I want to leave it and be a farmer.
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about being successful in business, it takes so many things. But i would rather think this way instead. It is about experimenting and enjoying the entrepreneur lifestyle. If it is not your type, it is hard to be persistent with. Dont just chase the money. it is not fun.
I agree , as being the boss I can decide I i have to run my business,I have full control on my business..
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Hey I really appreciate this article, it is true if im a entrepreneur then I’m a boss of my own business, i agree with you.
Hello,
Yes you are right, as an entrepreneur you should have strategy of executing your plan, for that you have to do your research & develop a plan which can go with your business very well.
Properly Entrepreneurship may be the great career is actually we can easily stay as well as work devoid of manager. We can easily accomplish whichever you want. Nevertheless the plan for small business is absolutely significant.
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Hello,
Well Entrepreneurship is the great career for which we can live or work without boss. We can do whatever we want. But the plan for business is really important.
Thanks