The reality is, most people considering business ownership do not spend enough time evaluating themselves and what they want to get out of a business.? As a result, they never buy a business or buy the wrong one!
So why don?t prospective business owners take the time to think this through?? Because self-discovery can be a difficult process!? It can be hard for some people to be really honest with themselves.? Also, they may have never owned a business or one like they have in mind, so they just don?t know what qualifications are required.? Below are insights from an expert business consultant to help you determine if you have the personality necessary to be successful.
7 warning signs you are probably not cut out to own a business or franchise.
- You are a ?know it all? and ?you are always right?. Related to this, your management style is ?my way or the highway?!
- You are not self-motivated.? You rely too heavily on others for direction and support.? Successful business owners are propelled by the thrill of growing their business and are impatient to make things happen.
- You are gullible or impulsive.? You have seen the ads or Infomercials with a lovely couple leaning on their Ferrari in front of their mansion and when they flashed their income checks you started thinking about the type of yacht you are going to buy!
- You think you will be successful because you are a ?people person ? you like people? or ?you will do whatever it takes to be successful?.? These are great attributes, but not enough to motivate you if you are in the wrong business and one you end up hating.
- You don?t know what else to do.? You can?t find a job and owning a New Franchise seems like the answer.? You need to understand the end game; what do you envision your life to be like as a business owner and do you understand the steps to get there?
- You don?t have the total support from your spouse or partner.? To ignore the wishes of your loved ones is a crucial mistake.
- You can?t stand a loss of income either monetarily or psychologically.? Buying a Business invariably ends up costing more than anticipated whether to ?Murphy?s Law? or the realization you need to spend more on personnel or advertising in order to grow the business.? Watch out if you are considering running your business on a shoestring if the thought of losing any money, even temporarily, scares you to death.
To make sure you have what it takes to own a business, take the next step.
For these reasons, it is very important that a qualified Business Consultant be used that really understands small business and franchising.? Think of this consultant as a trusted adviser who will help potential business owners look inward to determine what they want to get out of a business at many levels.? People use a real estate agent to purchase a home.? So why wouldn?t someone use an adviser to help guide them through what may be one of the most significant investment and life changing decisions they will ever make?
For more information on the benefits of small business and franchise ownership and determining if it?s right for you, Contact us.? There is no cost or obligation for our service.
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