The American Dream,Most will never learn how to start a small business

Most Will Never Learn How to Start a Small Business

More than 7 out of 10 people in the US today have a dream of learning how to start a small business. For older people it’s not as prevalent,but in younger people it appears much more frequently,in men more than women. How about you?  It’s the American dream of being your own boss;big desk,receptionist,polished dark wood office,walls adorned with lighted paintings in gilded frames,a nice new car,maybe a Lexus,beautiful home…the dream of success.

The dream is real in this United States.  Many people have achieved it,many more will.  But even if you are in the 7 of 10 who want to learn how to own a business you probably won’t…why? The fact of the matter is that just over 1 in 10 Americans are business owners.  They are the entrepreneurs and franchisees who have overcome the internal objections,rejected the nay sayers and dared to be independent.

Question:  What motivates some to learn how to start a small business,and yet,most will not?

Answer:  They felt the pain deep enough to take the action to convert their dreams into reality.

Why not you?  The truth is,you probably haven’t felt the pain deeply enough to make it happen.  Yet.

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In my industry about 4 or 5 out of every 100 inquiries is a qualified franchise buyer.  However,only about 1 or 2 end up turning their dreams of business ownership into reality.  My interest is not in the 95 or 96 who are really not ready emotionally,don’t have the necessary liquidity or credit,or are truly just dreaming…it’s good to dream.  My interest is in the 3 or 4 who are qualified,have the funds,the experience and the dream,but will never act on it.  The desire is real,the dream is real,what’s missing? …The pain.

I ask every prospective buyer I work with,“So what has happened recently in your life,to make you believe that now is the right time for you to learn how to start a small business”?  The answer is their “pain” and it varies with each prospective buyer.

The evil “pain” can come disguised in many ways.  For many in today’s new corporate economy it’s the realization,sometimes too late,that after being laid off,riffed,retired,downsized or simply fired in their mid to late 50’s,they are nobody’s prime candidate for a job.  They are too expensive,don’t have a wide enough employment window and honestly may not possess the “new era” technical skills of the younger generation.  After working the network,the job boards and social media,the ugly Mr. Pain exposes himself in the reality that the burn rate could exceed the severance &savings if the job search continues too long.

For some the “pain” transforms into a burning desire to achieve the dream.

Their dream has probably been smoldering for years,tamped down by the comments of co-workers,bosses,friends and even spouses who have casually doused the flame in negativity. But it’s not the dream,it’s the fact that the burning desire is finally red hot enough to ignite the fire.  At 211 degrees water does not boil.

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Pain can be as simple the yearning to buy back a life.  How many executives today proudly boast of being 1K or Platinum or whatever other lofty designation they ascribe to those who spend too many nights in nameless roadhouses,dining on cheap expense accounts and are never home to see the kids grow up?

Pain is different for everyone,but without the pain busting through the “break glass in case of emergency” capsule it’s been sleeping in,the American dream will remain unrealized.  For those 6 in 10 who “dream” but never “do”,the pain is still sleeping.

I think the worst nightmare I could think of would be to see myself laying on my death bed and thinking… I could’a,I should’a,but I never did.  And now I’m finally feeling the pain…too late.


If you would like to talk to Sid Lee and get your questions answered,sign up for a short,pre-consultation phone call.  You’ll be glad you did.  Sign-up here…


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Sid Lee
Sid Lee has been in the franchising industry for 16+ years and has the skills and experience necessary to advise entrepreneurs looking to buy a franchise. As President and Founder at Choice Franchise Advisors,Sid earned recognition as the bronze medal winner in 2015 by the Franchise Brokers Association. Sid is a Certified Franchise Broker/Consultant having spent 12 of his 16 years as an executive with Starbucks.
 

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