ARE YOU READY TO BE AN ENTREPRENEUR?

Being an entrepreneur is very different from being an employee. I didn’t truly realize this until I made the transition myself. For most people, to be an entrepreneur requires a motivational trigger to contemplate business ownership. The bigger the trigger, the stronger the motivation to take action. For many of my candidates, this trigger can be losing a corporate position in middle management after many years or even decades working as part of corporate America. Suddenly being an employee doesn’t feel so safe.

While some people feel compelled or find it necessary to leave the world of employment, others have the option to continue working as an employee. Finding any job as an employee may feel less risky because that’s what everyone does. The emotional battle between the perceived risk reduction of being an employee versus the benefits of business ownership is at the crux of the decision to start a business.

Not everyone has this emotional battle. For someone like Steve Jobs, it wasn’t a drive for rewards versus safety that motivated him—it was simply how he was wired. These types of entrepreneurs see their path as less risky than giving up control of their careers to someone else. They are unemployable. They would be bored and frustrated if they had to work as an employee.

Candidates for franchising are different. They are entrepreneurial to consider franchising, but they aren’t usually born that way. They are drawn to entrepreneurship for the rewards—financial, emotional, and inspirational—of controlling their destiny. And the rewards are many—there is no question your quality of life will increase as an entrepreneur. But they often have a choice of which road to take—employee or entrepreneur.

The transition from employee to entrepreneur and business owner requires a franchisee candidate to consider their mindset in different critical areas. These include their incentives for working, view of risk, desire for status, and whether they have a scarcity or abundance mindset.

This employee or entrepreneur mindset may be a new area for you to think about up until now. Don’t worry part of my services is to guide you through this discovery to determine if you have what it takes to make that Big Consideration to owning your own business.

Irving Chung

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Irving Chung is a Franchise Consultant with FranChoice, the premier national network of franchise consultants. Irving helps candidates explore franchise ownership to determine their criteria and helps them find the “best” franchise. Learn more about Irving at BigConsideration.com.

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