If you’re in your early twenties, this post is for you. At this moment in life, you are most likely overwhelmed with some of the toughest questions you’ve ever faced. It probably goes something like this: what will you choose for a career? What are your strengths? Are you prepared enough to be an entrepreneur right out of college?
Am I close?
Before you crawl under the covers, remember, it’s not the end of the world if you don’t have all the answers. Just as everyone has been repeating up to this point – no one else had it figured out either when they were in your position. Now repeat after me, “I can become an entrepreneur.” The fact that everything is new and available to you means you are defined by nothing. Take your creative genius and get to work – there are a lot of challenges ahead, but if you want to succeed, you first have to believe you can.
We’ll go ahead and say it – money is a big obstacle that you’ll have to overcome, especially right out of college. There are many resources online as far as budgeting and being smart about your expenses, but in order to get the cash flow you need, you might want to look at working a couple of different jobs. Side projects will not only pay the bills, it will give you good experience, assist in growing your network and it will build your skill set.
Just because you graduated doesn’t mean you can stop learning. As an entrepreneur, knowledge is the difference between success and staying idle. Become an expert in your field, stick to tough goals and focus on the mistakes you made and how to improve. Don’t worry too much about what you didn’t get from college — think instead on what you can do now and what you want to become.
Last, in the chaos of trying to get your life together, don’t zero in on what everyone else is doing. Comparing yourself to others will not benefit you. It will open the door to jealousy, insecurities, uncertainty and negativity. Stick to doing what you love and be okay with that. Trust yourself and lean on others for support. If you put your network, education, passion and hard work in order, there’s no reason why you can’t succeed.
Are you ready to get started? Let FranNet connect you with the business you’ve been looking for. Ask us about a free consultation . Our purpose is to connect the dots and make the transition from corporate employment to the freedom of business ownership manageable and safe.
There’s no way around it: if you want to get noticed, you have to put yourself out there. This could mean a coffee meeting, attending an evening event or getting brunch. Whatever it looks like for you, make sure you are getting the most out of your visits – make the most of your networking.
When you are trying to build connections and grow your personal and professional brands, think about your most precious asset: time. There will be several opportunities to “work the room,” which some will be obvious and others will not. Knowing how to manage your commitments will pay off. No matter the event or person, let these tips guide you toward stronger networking skills.
- Arrive on Time and Follow-up Not only is arriving on time the polite thing to do, it gives you a certain advantage if you fall more on the early side. The early birds get to scope out the room and strike up conversations with those who haven’t settled into groups yet. They also have time to gather their thoughts and properly prepare for the event. Also, follow through on any promises to send an email or connect on social media. You are only as good as your word.
- Diversify and Don’t Linger. When at events, try not to limit yourself to one conversation. Keep moving, ask open-ended questions and let your business card find its way to as many pockets as possible.
- Be A Resource. When others think of you as valuable, they will turn to you for suggestions, ideas and could refer you to others. Word of mouth is something you want on your side, so make sure others not only know about your business but have good things to say about you and your business.
As an entrepreneur, connections are vital and there are many instances in which you are relying on other people to build your business. Get your name out there and keep meeting others in your targeted field.
Are you ready to put your ideas into action? Perhaps it’s time for a free consultation with a qualified and experienced franchise consultant. FranNet has a great track record of assisting individuals on their path to business ownership. Make arrangements to speak with one of our representatives today!
Entrepreneurs and potential small business owners are faced with a difficult challenge in modern society: is it still possible to be entirely original with our thoughts and creations? Are we all just stealing, copying and borrowing or can we still sample others works and inspire new ideas?
Originality, by definition, is the ability to think independently and creatively or the quality of being novel or unusual. Well, that doesn’t seem too hard to accomplish, we think independently every day and certainly friends and family could vouch for the unusual qualities. Creativity is defined as the use of the imagination or original ideas. Can we even be confident our imagination is a true representation of personal creativity? You can get really in-depth and philosophical on this topic, but here is my take.
Scientifically, we are all different. The genetic differences cannot be debated, and even with advancement in research it will never be said that two humans are exactly alike in every way genetically. Other main factors are our environment — the people by whom we’re surrounded and our life experiences. These may be very similar to your neighbor, but no two people have the exact same nature and nurture factors and also interpret them the same. Currently, the world is inhabited by over seven billion people. Instead of looking at this like originality is dead and everything has been done before, think instead about how much potential is in that number.
Out of all seven billion people, no two are alike. Even if you want to start a pizzeria (sure pizza was first documented in 997 AD), but does this mean you can’t create a pizzeria with your own, personal flair? Our ideas are just like our genetic makeup: different. It’s the differences that show our ability to be innovators and spread unique, novel creations.
You can make your own stamp in the world — it’s through our inspirations, sampling, borrowing and education that cultivates a base to build from. Maybe what you’re passionate about has been done before- but never by you. And is that not, in itself, proof originality is possible?
Are you ready to be your own boss? Perhaps it’s time for a free consultation with a qualified and experienced franchise consultant . FranNet has a great track record of assisting individuals on their path to business ownership. Make arrangements to speak with one of our representatives today!
When it comes to your business, you want to make the best possible choices that will end in the greatest results. No one wants a financial nightmare to sort through; however, it can be tough to avoid mistakes when the workload is overwhelming. Thankfully, you’re not alone and the learning experiences of others will help your business stay afloat.
It is important to first separate your personal and professional finances. If you are an entrepreneur looking to start your own business, don’t use a personal credit card. Why? If you are unable to pay off your personal card balance, it will start hurting your own credit score. If your credit score lowers, it will affect all your financial transactions, both business and personal.
It also matters when it comes to keeping financial records. You’re at risk of devaluing your business by increasing your perceived expenses and thereby reducing your profit margin. Also, improper personal use of business finances can potentially get you into hot water with the IRS, so do yourself a favor by separating everything in the beginning when it comes to your business and personal finances. This might mean you will have to live on a modest salary to keep above water, but it will pay off later.
Keep in mind that just because people are talking about your business doesn’t mean you are successful and growing. This doesn’t portray an accurate business forecast, even if it does serve as a confidence booster. Balancing sales figures with your expenses, profit margin, and average revenue per customer is a finite way to discover to what degree your business is succeeding.
I promise you won’t seem cynical by planning for the worst. Your boundless optimism is wonderful and you need to it make a good business. But you also have to cover your bases and look to the future. Remember, you want to avoid financial nightmares-not wait for them and then figure it out. Plan for possible financial hiccups so that you will be prepared to handle it and thus move away from it faster.
It is recommended to pad your budget with a 10 percent contingency fund. No matter your estimated annual budget, that 10 percent will be there from the start. Better to have it and not need it than the other way around.
Do you have liability insurance? If you’re operating out of your house, the standard homeowner’s insurance policy won’t likely cover your business, especially if your business owns expensive equipment. Insure your business properly and sleep easier at night.
Don’t fall into a financial pothole, especially after you’ve been previously warned. Research and learn, ask others for advice and make sure you understand the full scope of your financial requirements.
Do you feel like you need advice? Make arrangements to speak for free with one of our qualified and experienced franchise consultants. FranNet is a franchise consultant company with a great track record of assisting individuals on their path to business ownership.
What does it take to own a franchise? In many ways, the responsibilities of a franchise owner align quite similarly with those of a small business owner. Even though they are essentially the same, the franchise owner starts of with a few more advantages.
There are many franchise concepts and some of them offer a type of product or service that connects directly with the customer. Depending on which franchise you choose, you could be very involved with the public on a daily basis. If you don’t have the patience or personality to deal with complaints, demands and the occasional attitude, then you might want to look for a franchise that does not need you on the front lines. Carefully understand the outline of your responsibilities and don’t settle for something you aren’t passionate about.
As an owner you need to make sure you have a strong team of employees, so you need to prepare for effectively training and motivating your team. The franchisees’ training and on-going support will come from the franchisor; however, the franchisee must pass on their knowledge and use it to better their individual operation.
You’ll also need to consider the marketing of your business. Your franchisor may have national or regional advertising, which they will handle. However, you may be also tasked with leading local marketing activities to actively promote your business. Are you prepared for this?
You will also need to plan for additional costs in starting of your business. There are the expenses of the initial investment, but keep in mind the royalty fees, equipment costs and the expense of keeping your business running day to day. Don’t set yourself up to fail — money is important and so is time. You will be pulled a lot of different directions and you will need to dedicate a great deal of time on your business so your business can get up on its feet the right way.
Simply put, a franchise owner is a leader with an inability to quit. They take initiative, communicate effectively and are pro-active. Expect to fill this role wholeheartedly and you’re setting yourself up for great success.
Are you ready to be your own boss? Perhaps it’s time for a free consultation with a qualified and experienced franchise consultant. FranNet has a great track record of assisting individuals on their path to business ownership. Make arrangements to speak with one of our representatives today!
Tanzania, an East African country known for its vast wilderness areas, has roughly 47.4 million highly diverse ethnic, linguistic, and religious groups. You may recognize one of Tanzania’s more famous attractions – Kilimanjaro, Africa’s highest mountain. Also, over 450,000 tourists make it to the country’s Ngorongoro Conservation Area to enjoy wildebeest, zebras, rhinos and hyenas.
These exotic attractions have captivated thousands, but away from the wayfarer’s gaze patiently waits 2.5 million orphans, according to Unicef and other humanitarian organizations statistics. Chris Coleman, FranNet of Missouri & Southern Illinois, decided to save the mountains and zebras for another time and focused instead on the children without a place to call home.
Chris recently traveled on a mission trip to Tanzania with a group of 16 others to a new orphanage where 40 recently relocated children lived. Their mission was to assist with projects that would help the orphanage become self-sustaining.
“We have the opportunity and responsibility to do more,” said Chris. “Experiencing the poverty of a third world country has helped me to truly appreciate how blessed we are here in the U.S. and how we can use those blessings to help others both here and abroad.”
Chris first heard of the opportunity through a close friend, who was leading the mission trip. He knew he had to seize the opportunity, especially since he and his wife have always been passionate about the care of orphans.
Seeing first hand how small financial donations can significantly impact the lives of others was eye opening to Chris. The chance to spend time with, love on, and care for children that have lost or never known a mom and dad is important. He soon knew it would be an experience that would change him forever.
“There are so many things I learned from my time spent in Tanzania,” said Chris. “A couple words of advice I would like others to know is to get outside your comfort zones. That’s usually where real growth happens. Also, when you serve others who are in need, you typically are the one who will be blessed.”
After his trip, Chris was inspired to become an advocate for orphans in the country of Tanzania. For individuals interested in continuing to help orphans in Tanzania, Falco’s Children’s Village is a long way from meeting their goal of providing homes and care for 350 children. Support is needed from other teams willing to travel to Tanzania to help, and donations are greatly needed and appreciated in the goals of building homes on the 70 acres they’ve been given.
“Alone we can do so little; together we can do so much”
― Helen Keller
Take a look at the video Chris and his team put together from the trip.
For more information on FranNet services contact Chris Coleman at (636) 728-9430
or visit www.frannet.com/ccoleman.
After working with your local FranNet consultant, you found the perfect business for your personal goals at last. Yet, while you have come a long way, there are still many obstacles to overcome ahead. It’s time to prepare for getting over the biggest hurdle of your new chapter: the first year.
- Hot Off The Press: Because you are brand new, you think the more press the better, but this might not be the best tactic. Your business is in the stage of working out the bumps and nailing your services or product. Press can be very beneficial, but try not to go overboard.
- Networking Haze: You owe a lot to networking and the connections you’ve made up to this point. However, you could find yourself in a network haze, where each night is filled with another event or party. Don’t get too caught up in the extra circular activities — you have to do your homework and a lot of that happens mainly at your desk.
- The Office Atmosphere: Right away, get started on your company culture and always drive home your mission and vision for the company. To attain the business goals you’ve been dreaming of the past few months, you have to organize your leaders and employees. Those first hires are critical to your survival, so encourage the expression of ideas and stay true to your company’s purpose.
- Mistakes Aren’t The End All: In case you’ve forgotten, the only way we learn is by doing and getting back up when life pushes you down. You could read every article about the first year, but you’ll never be able to predict 100% all the possibilities ahead. This is where your support system and the constant stream of online advice will come in handy. Bounce back from mishaps and make your company stronger; mistakes are opportunities to build a better business.
As the boss of your business, your employees will look to you for security and dependable cash flow. Since you have refreshed yourself on common mistakes and planned ahead, you have set you and your business up for success. Find your groove and keep pushing forward!
Do you want to be your own boss? Perhaps it’s time for a free consultation with a qualified and experienced franchise consultant. FranNet has a great track record of assisting individuals on their path to business ownership. Make arrangements to speak with one of our representatives today!
The origin of the phrase ‘comfort zone’ is a tricky one, mostly because we all have a personal definition and understanding of the term. But when it comes to performance, it’s relatively straightforward: the comfort zone is a behavioral state in which a person operates in an anxiety-neutral condition, using a limited set of behaviors to deliver a steady level of performance, usually without a sense of risk.
Risk is a key word here. When was the last time you took a risk? I don’t mean run over train tracks to beat the train or walk up to a salivating, growling street dog. It could be as uncomplicated as risking embarrassment at a karaoke bar or speaking up at your next business meeting. Stepping out of comfort zones don’t have to be momentous – it is simply a quick nod “yes” instead of the familiar hesitation.
Taking the plunge into unexplored zones can be liberating, enticingly mysterious and full of positive, life-changing encounters. Risk doesn’t end in just failure or embarrassment, it can be a chance for greatness and happiness. We know by now that inspiration appears in many forms. It can even lie in moments of discomfort — look for these opportunities and snatch them! Break free of the limitations you surround yourself with, sleep each night with no regrets and realize control of different situations are easier to maintain with an open perspective.
Comfort zones are self-created. We choose where the lines fall or if they even have to be there at all. Next time you find yourself hesitating, take a moment. You are a wonderful, resilient, capable, courageous individual. Allow that to show in all facets of life and live each day to its fullest!
If you want to try and measure your comfort zone, there’s a website for that. See it here.
Are you ready to get started? Perhaps it’s time for a free consultation. FranNet has a great track record of assisting individuals on their path to business ownership. Make arrangements to speak with one of our representatives today!
Finding success as a franchise business owner is all about research, leadership and networking. With the myriad of unpredictable circumstances an owner faces in the first few years, a guiding hand can provide the right amount of support for a new owner. FranNet continuously strives to arm aspiring entrepreneurs with innovative, powerful tools that will put them ahead of the competition and make the early years smoother.
Mark Roger, FranNet MidAmerica in Indiana, knew entrepreneurs needed resources beyond an accountant and attorney to be successful. They needed connections with business networking groups, health insurance providers, bookkeepers, professional coaching, etc. In conjunction with his partnership with the Indiana Small Business Development Center (ISBDC), Mark created an entrepreneur educator collective, a public – private profession partnership, called the E Round Table – providing professional expertise focusing on a business owners’ initial 3 years in business.
“With FranNet, our clients are vulnerable to negativity and constant second-guessing. Teaching aspiring, young entrepreneurs that are just starting out help to keep me attuned to their issues, perspectives and reservations,” said Mark. It reminds me to have a bit of empathy and, of course, provides great life stories to share with FranNet clients working through our process.”
The E Round Table is coordinated, marketed and underwritten by FranNet MidAmerica and has several educational programs for entrepreneurs and entrepreneurship groups free of charge throughout Indiana. Members of the E Round Table participate in quarterly meetings to work on entrepreneurship programming as well as an opportunity for E Round Table members to network among themselves.
Currently, there are 24 professionals that have agreed to provide two presentations on their subject of expertise annually throughout Indiana. Areas of expertise include: various insurance providers, state procurement, social media, advertising, sales coaching, as well as a SBA Officer and a SBDC Regional Director.
“Just as you get personal enjoyment in starting an individual out in a FranNet business – you can get the same excitement from working with an inspiring entrepreneur who has an “a-ha” moment,” said Mark. “Better yet, that entrepreneur may eventually purchase a franchise – double the fun!”
The E Round Table has started identifying and addressing concerns beyond education. Recently, they’ve begun work on a conference room-share program for start-ups and entrepreneurship groups. Members recognized a need for professional conference room space for start-ups and groups to entertain clients, bankers, and large presentations. To rectify this, FranNet MidAmerica is implementing an electronic sign-up process on space participating professionals are voluntarily providing within their own workspaces.
“My goals for the future of The E Round Table is to equip Indiana with an entrepreneurship education collective that has a communal conscious. These types of programs demonstrate that FranNet provides local business expertise, exceptional franchise knowledge and serves as the primary resource in entrepreneurship and business fundamentals education.”
For more information on FranNet services contact Mark Roger at (317) 646-2697 or visit www.frannetmidamerica.com.
FranNet works with entrepreneurs of all ages and personalities, and the more reserved individuals of the business world are no exception. Influential men and women are lending an ear to the quieter, underestimated introverts and the marvelous qualities they bring to the entrepreneurial world.
As far as corporate culture goes, there are the overtly energetic, confident, loud speakers and the often overlooked, sitting quietly in the same space, the more introverted individual. Introverts are as complex as anyone, yet they are prone to be misunderstood when it comes to how people perceive their personality or leadership techniques. Even so, they are finding a way to get noticed and quickly proving that you don’t have to be hugely expressive to get things done.
Many people visualize a very specific set of characteristics and personality traits when it comes to entrepreneurs and leave it at that. However, while there are common traits and expectations for those working as an entrepreneur, if a person is passionate enough for the lifestyle and the task at hand, then who’s to say they can’t become successful in that endeavor?
If you are an introvert, then it’s time to embrace your unique work style and prove that anyone who wants to follow this path can. There are simple-to-incorporate ways of developing your entrepreneurship skills to help make the most of who you are. As Grant Cardone stated in an article for Entrepreneur.com, there is undeniable value in finding your inner passion.
Things to Keep in Mind
- Consciously get out of your comfort zone and practice extrovert-natured skills, such as networking and public speaking.
- Eliminate unnecessary activities that are draining, make an effort to give yourself a break.
- Have a strong support system that embraces your personality. Lean on them when you need advice or encouragement.
Just like every individual, introverted entrepreneurs have different strengths and weaknesses. Once that is understood, they just need to bet on themselves and embrace their style of business. Don’t ever think that the path to personal success is louder or more outgoing – it is exactly what you make it.
Are you ready to get started? Perhaps it’s time for a free consultation. FranNet has a great track record of assisting individuals on their path to business ownership. Make arrangements to speak with one of our representatives today!