Do you ever wonder why some people seem to get all the lucky breaks in business while others struggle to barely get by? They seem to be in the right place at the right time. Fact is, maybe theyre not at the right place at the right time; maybe they just know how to make things happen.
Being a business advisor, I’m in a perfect position to encounter people who have given up on a business endeavor even before they’ve gotten a chance to really see it grow. When it comes to running a business, it takes more than just having a product or service.
Being successful in business is actually simple, it is by no means easy, but it is simple. Speaking from experience, all the success that I’ve come across came as a result of my actions. It’s just a matter of making sure that you follow a guide.
My success is also a result of having some great mentors over the years. Mentors who were willing to share time and knowledge in order that I could grow my business. My choice with the information that was shared was to either use it or not. Fortunately, in many cases I listened and applied what was recommended.
On the other hand, I often had people who served as a warning of what not to do in business. People who struggled day in and day out and yet, were more than willing to tell others how to succeed in business. To me they are as much of a benefit to the growth of my business as those who serve as a model. I was able to look at them and see what I didnt want. I could also see that in many cases they wanted instant success without the effort.
One of the greatest lessons I have learned from my mentors is to explore ideas I get. Not just explore, but have a plan of action and a systematic approach to implementing the idea. And to trust my instinct. And be willing to take risks. It has been said, With risk comes reward. Granted, not all my ideas have been wildly successful. As a matter of fact, some downright failed. And yet, out of every failure was the seed to another idea that held the possibility of success.
Regardless of the type of business you are in, you can achieve a high level of success. Its a matter of your level of commitment and having a vision of what you want to achieve. Such was the case with an idea I came up with a little over a year ago. Although I had some of those warning folks tell me it could never work, I chose to listen to those who have been successful in idea implementation and explore where the idea could take me. Thank goodness I followed my instinct and implemented the idea. That one idea has made me over $100,000.
With just that one idea, came another idea. I call this as an ‘offshoot idea.’I've compiled this into a free report where I outline a step-by step guide of what the idea was and how it has helped me create revenues.
The franchise market place is growing rapidly with more and more people buying a franchise business. The people who invest in a franchise opportunity are more likely to succeed then those who choose to go it alone. Many millionaires have been created through the franchise industry.
After a lengthy study carried out over 7 years by the US Department of Commerce, it was revealed that over 90% of franchisees were still in business. Those who had decided to go it alone and start a business on their own, only 20% were still trading.
The franchise industry has finally shaken of its dubious reputation and people are moving towards franchise businesses in droves. This is probably due to the fact that a lot of high paid jobs in manufacturing industries are declining as more and more manufacturers are moving their plants overseas where they have access to a lower paid, highly skilled work force.
For businesses wanting to expand rapidly, franchising has many benefits. The franchisee helps fund the businesses expansion and has a major interest in making sure that the business is successful.
For franchisees the benefit is that they get access to a proven business model, full training and support. They also have access to higher funding from banks that realise that the risks are lower in funding a franchisee then somebody who is starting out on his own!
So how does one go about choosing the right franchise opportunity for them? Most people dream about being self employed but are scared to take the plunge. The best way to choose a franchise business is to start by analysing your self. What kind of person are you? Are you self motivated, do you like networking or do your skills lie in management?
If your forte is in managing other people then a business which involves a labour force might be right for you. If on the other hand you don’t like being tied down to one place then a franchise business that involves meeting and networking with local businesses would suit you better.
Are you a morning person or an evening person? Some franchise opportunities require a very early start like a coffee shop franchise. Other businesses involve working mostly in the evenings, like legal franchises that involve drawing up standard documents for the public. In this case most of your appointments will be in the evenings.
You must also be prepared to educate yourself in a field that you know nothing about. Most franchises, I am sorry to say, involve a lot of training and are hard work. You will have to be prepared to put the effort in, especially in the initial stages, when you are starting up.
In the longer term you should have a successful business that allows you to employ staff who can take a lot of burden away from you.
Written by Ricco Richardson
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