Moving from executive to entrepreneur can seem foreign and scary, but believe it or not, there is a lot of overlap. Here I highlight a few initial hurdles and explain why they may not be as daunting as you think.
SYSTEMS
Every company has systems and processes and all employees – even high-ranked corporate executives – are expected to follow them.
Business owners have the opposite experience – they are responsible for creating systems and processes for every aspect of their businesses.
A franchise can be the perfect compromise. You enjoy the independence, freedom, and profitability of entrepreneurship, but you get to take advantage of operating systems that have already been proven to work.
RISKS
Being an employee always seems like a safer option than being a business owner. But the truth is, there are risks on any job front. As an employee, the biggest risk is job security.
Compared to a corporate position, franchise ownership lets you call the shots. It’s much less risky than a start-up business because a franchise already has a proven business model, significantly reducing your risk of failure.
SALES
In corporate America, you don’t have to be in sales to sell. In fact, you have to sell your skills over and over again – at job interviews, as positions evolve, as companies merge, as new managers come in.
Turns out, this skill transitions naturally to franchising because every franchise owner is ultimately a salesperson. You are responsible for marketing and generating new clients for your business.
Franchising may be very different than corporate America, but they do have a lot in common. Either can lead you to financial freedom, it just depends on how you want to get there.