Five Questions Every Entrepreneur Should Ask Themselves


A large part of achieving success is asking the right questions and getting honest answers. These questions will have an effect during any stage in your career and it starts with you.

  • What am I willing to sacrifice? On a daily basis, entrepreneurs make tough decisions that affect the lives of their employees and health of their business. Knowing how far you are willing to go for your business, what you can and cannot do, will keep you on track and everyone on the same page.
  • Are my employees a positive influence? You have to evaluate how your team interacts together and how they are furthering the company. Hiring the right team is vital to succeeding, then maintaining a high level of excellence is equally important. Leaders are able to tell people whether they must, "grow or go."
  • Does my strategy make sense? How clear are your short-term and long-term goals? Success means you know what you need, who will help you and how long it will take to get it. Defining your vision and writing out a detailed business plan will guide you as your grow. A good question to remember to ask yourseld is can you execute your strategy. Great ideas don't always equal success.
  • Do you have an emphasis on organizational culture? Your values, stories, tools, and routines provide a source of identity that helps connect the employees and consumers of your business. It gives everyone a common purpose and works to strengthen the bond your brand feels for anyone involved with it. Stress culture and preserve the principles of your business while striving to innovate and attract future generations.
  • What can you say NO to? Without the ability to say "no", reaching your full potential will be nearly impossible. This word is vital in everything you do, whether it is saying “no” to working more that day or “no” to a choice concerning the direction of your business. Learn how to trust your judgment and carefully choose when it is the right time to just walk away.

In the beginning, in the middle and near the end of your career – you can't be afraid to ask questions. They will expose what areas need work and lead you and your business on the best possible path.

 

Do you feel that you're 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.


Are You Being Persistent Enough?


Successful entrepreneurs and business owners have a certain key quality that gives them the edge over others. Can you define it? Could it be perseverance, problem solving, motivation, or creativity? While these all play an important role in success, persistence is a huge part of building a memorable, quality business.

When in the world of business ownership there are no certainties, and on top of that you can’t rush the progress of your business. Whether you are looking into franchising or your own start-up, it could take two or three years before you could see significant traffic. It is a challenging road and instant traction is not a reality for new owners.

This is where persistence comes into play. That key quality will get your business and team through the beginning and on your way to your ideal lifestyle. Persistence will help you learn from the many mistakes (big and small) you’ll make and it proves again and again that failure is not interchangeable with quitting.

Here is where people get caught up, they also think patience will bring their business to success. Don’t get me wrong, patience is an important characteristic of business ownership and your team members, family and friends will appreciate it as well. Where patience can hold you back is waiting for good things to happen for you and your business.

Entrepreneurs and owners know that you shouldn’t get comfortable with the state of your business nor should you expect to progress without consistent innovating. As an owner, you can’t wait for the perfect moment or situation to start a business or launch a new feature.

It is also important to realize that it is very rare that others you do business with will be on your same timetable. Be persistent in your goals and patient with your reactions; don't give up if things take longer than planned. Look to your business plan for signals that you're on the right track, keep your burn rate as low as possible in the early years and keep moving forward.

 

Do you feel that you’re 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.


Is Intelligence Enough To Get Ahead And Stay Successful?


We know it takes more than intelligence alone to be a good leader and get ahead. Just what are those key qualities that allow you to rise above the sea of people with identical academic backgrounds and excel?

One skill that will make a dramatic difference in your business (and develop more respect from colleagues) is your listening ear. You have a team of professional, excited, and motivated individuals - use them! The more you listen to your team and encourage a comfortable, open environment the more willing they will be to contribute. With more ideas and discussion come results, and all from the simple act of closing our own mouths.

Be dependable and remain a role model for your colleagues. You could be the most intelligence person in the room, but you are still not the only person keeping everything afloat. Use your work ethic, honesty and integrity to get ahead and build relationships. Remain mindful of your professional presence and don’t be afraid to smile here and there. You see your coworkers every weekday, help them enjoy their job through your own exceptional initiative, organization and attitude.

Share the work load and don’t be afraid to make mistakes! With a leadership position, you are relied on constantly to make the best possible decisions, which means you need to delegate other responsibilities to your talented team. It is hard to loosen your grip on all of the control, however, you will thank yourself later. Letting go and delegating responsibility will give your business a chance to reach its full potential.

Lastly, keep looking ahead. It’s great to stay focused on the tasks at hand, but devote some of that brainpower to planning strategic future goals. According to the Forbes.com article “The Three Strengths of a True Strategic Leader”, statistics show fewer than 10% of leaders exhibit strategic skills. The only way to know where your business is going is to track your progress and make sure it stays aligned with your vision.

Being your own boss is no walk in the park, there are several crucial qualities that are necessary that go beyond intelligence alone. Crafting an all-around more balanced repertoire of skills will significantly improve your business moral and profits, but you already knew that, didn’t you?

 

Do you feel that you’re 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.


Overcome Burnout and Forge Ahead


It’s okay, you can admit it. You’re definitely not alone, some may experience once in their lives while others go through it multiple times. It’s the dreaded burnout, the ever-building struggle of staying energized and passionate about your profession. A business owner endures a demanding mix of energy, knowledge, and constant innovation. It’s no surprise that after awhile it can wear on you, but it doesn’t have to ruin you.

There are several helpful articles that illuminate the coping mechanisms others have adopted to bring control and happiness back to their routine, but a common theme runs throughout each one: a lack of change or challenge. The first few years fly by in a whirl of hope and determination with each day bringing a new, intricate puzzle to solve. Yet, after the company has reached maturity, the potential for burnout increases. When you cozy up to the idea that you’re mature and no longer need to strive for success, the lack of challenge will drive you to boredom. Discover how to dish out an appropriate amount of challenge so each day is a puzzle you still enjoy solving.

How many times do you check social media or wish to do anything but sit at your desk and work? Procrastination, in my experience, can mean one of two things: what you need to do is boring and you are avoiding it with other, more fun things or the task is repetitive or predictable and you’re tired of doing it. When you find yourself constantly drifting toward anything but your work, it’s time for a break. Physically walk away from the task and get some fresh air. Or, as Entrepreneur simply put it: get a life. You need to have some fun, so get out and find what makes you happy.

Don’t stress over burnout, realize that you have reached that point in your career and start evaluating what the next steps are. Approach it as another problem to solve for your business to succeed and realize that it can be fun reigniting the sparks that fuel your dream. Look to make small changes inside and outside the office and you will slowly transition from bummed to blissful.

 

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.


Feeling a Little Drained?


It doesn’t matter: if you are a young entrepreneur or experienced, there are challenges that will arise that will make or break your goal of becoming successful. A major hurdle to overcome will be staying energized and avoiding burnout through your intense and sustaining workload.

Truly, this is a challenge almost every professional must work through – whether they are thriving or not. However, entrepreneurs have an especially rough time with remaining energetic and focused. Combat this struggle by making your startup have a purpose, not just a means to make money. Your business is how you are making a difference in the world, make sure your team understands that and shares the same mission, meaning, and purpose.

Remember that you are only human…which means you have to take care of yourself. No one can make it on a protein bar and 2 hours of sleep each day – pushing yourself past the recommended physical and mental limits are hurting you, not helping. Prioritize sleep and the time you spend relaxing by planning to eat dinner with your family every night or taking your kids to the park. You need to unwind in order to recharge.

Surround yourself with a strong support system and allow them to energize and inspire you. It isn’t easy constantly performing at your best, but if you let others help that kindness and motivation will go a long way. Find some good people and create a happier environment.

Stay positive and look for little adjustments that you can make to your schedule that will encourage health and joy. Such adjustments could be drinking more water, testing out Bulletproof coffee, go for a walk, perform a random act of kindness – it doesn’t have to be huge, just enjoyable. Being an entrepreneur isn’t for the light-hearted, but it gives back a mighty rewarding life if you let it.

 

Do you want to be your own boss? Perhaps it’s time for a free consultation with a qualified and experienced franchise consultantFranNet has a great track record of assisting individuals on their path to business ownership. Make arrangements to speak with one of our representatives today!


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