PO Box 593

Linden, VA 22642

703-980-3749

Sidney H. Lee, Franchise Consultant

Workshop Hours

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Five Signs That You Might Be Better Qualified To Be An Entrepreneur

John Lee, Co-founder, The Franchise Workshop

John Lee, Co-Founder The Franchise Workshop

John has started many successful businesses since the early 1980s and over the last few years has added key web development skills to stengthen the family business he shares with his brother.

America: The land of the free and the home of the brave.  Do those words muster only thoughts of the American Revolution?  Or, could that statement also represent the wider American experience of our capitalistic heritage.  Could entrepreneurialism be a way for us to exercise bravery and achieve freedom in our own lives?  Here are five signs that may signal to you that it’s time for an entrepreneurial life changing event in your own life.

Sign #1:  Have you had one or more experiences in your life where you competed hard and won a significant victory?  For those of us that have had those kinds of experiences, it’s sometimes hard to spend our lives employed by someone else, helping build someone else’s family wealth while eschewing our own.  Follow your gut instinct and trust your belief in yourself as a competitor.  Don’t fear shouldering the burden of building your own wealth.

Your own successes are evidence that you may be capable of building and sustaining a business of your own.  Buying a franchise is a great way to enter entrepreneurship for the first time.  It’s like being in business for yourself, but not by yourself.  You have a franchisor and other franchisees that you can rely upon for advice when you encounter a challenge.

Sign #2:  Do you think you could you work as hard or harder for yourself than you do for your boss?  If the answer is yes, it may be time to start looking at buying or starting a business.  While building business equity over the rest of your lifetime, your efforts may be sufficient to pass significant wealth on to your family.  At the very least you could secure a safe place for retirement and pass a great self-employment opportunity on to your kids.  

If you’re convinced that starting a business is for you, consider this:  Your great, but unproven idea may not be the best place to start.  Read Sid Lee’s article, “Start a Business or Buy a Franchise…Which is Better?”  Sid offer’s some great advice to those who are determined to be an entrepreneur but don’t know where to start.

Sign #3:  Do you think you are tough-skinned enough to believe in your dream of business success even when your friends and family may not?  Sometimes it’s nice to have a little encouragement when you are trying to achieve a goal that is important to you.  If you find yourself needing that encouragement from others to continue toward your goal, starting a business may not be for you. 

Typically, building a business may take longer in terms of time and/or money than the owner had originally budgeted for.  Believe it or not, these are the times when the people closest to you may waver in their support.  This is when your resolve must be strong. 

I have known many successful business owners in my life who persevered in the face of certain defeat.  When interviewed after they had achieved success, many attribute their success directly to their resolve to win.  If you are a person with tough-skinned resolve, you’re probably aware of it.  It’s a must for entrepreneurs.  

Sign #4:  Another sign that successful entrepreneurs have in common is their ability to reach out for help before negative consequences can overcome their business.  I’m not talking about your ability to “hunker down” and work, although we all need that as part of our character.  I’m talking about the ability to reach out for advice from the experts to right the ship’s course when you’ve navigated poorly.  Again, most people who have this ability are probably aware of it.

Most entrepreneurs have mentors they can access when they need some advice.  If you are new to business and don’t have that trusted, experienced advisor, take heart.  Trusted advisors are baked into franchising.  The right franchisor is always ready to help one of their franchisee’s right the ship when it has steered off course.  Consider this when you are looking to get started in business.

Sign #5:  How are your people skills?  Communication skills are necessary to effectively sell your product or service.  Leadership skills usually come naturally and are essential to running a successful business.  It is part an entrepreneur’s job to be able to inspire, motivate and influence those on their team. Again, if you have these people skills, you are probably well aware of it.

If you would like to know whether or not you would be well qualified to be an entrepreneur, take The Entrepreneur’s Quiz.  You’ll get your score tier back immediately and be confident in moving ahead with your research into starting a business or buying a franchise.

Take The Official Entrepreneur's Quiz

Ever wonder how qualified you are to be an entrepreneur?  Would you know the questions to ask yourself to be sure you have what it takes to start a business or buy a franchise?

Take The Official Entrepreneur’s Quiz.  You’ll get an immediate score tier that gives you an idea how you might be more or less qualified to go into business for yourself.  The Quiz takes just a couple minutes to complete.

Click the button below and go directly to the quiz.

Sid Lee, Choice Franchise Advisors, The Franchise Workshop
5 things you need to know before you buy a franchise

5 Things To Know Before Buying A Franchise

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“Retired” too early, RIFfed, laid off, sick of your job or just ready for something new?  Maybe you’re just ready for a transition in your career and you’re convinced you have the business savvy, education and have even managed to save up some money…Now What? It must be time to chase the American dream and go into business for yourself.  Buying a franchise might be just the right thing to do.  Here are the 5 Things You Must Know Before Buying A Franchise.

Buying a franchise can be a much safer investment than starting your own business.  …