By , Rick Bisio
Published May 03, 2016
Labor Day has passed, but there’s never a wrong time to reflect on all the hard work you do as an employee. You’ve worked tirelessly to get to where you are today, and you’ve learned a lot along the way. You know all about working for someone -- but what do you know about working for yourself? The answer may surprise you.
Former employees actually make great business owners. They know what it takes to operate a business from the inside and have already acquired many of the traits of a successful entrepreneur. As a franchise coach, I know how much courage it takes to make that switch from employee to business owner. But going into business for yourself can be the most rewarding experience -- if you are ready to take on the challenge.
Related: How This Franchisee Went From Employee to Owner
Here are some things to consider when you're going from employee to business owner:
Successful corporate employees know how to lead a team while also respecting the organization for whom they work. They have well-developed core business skills such as sales, marketing, finance, leadership and people management. All of these skills are essential as a business owner, and corporate employees have already learned many of them. Former employees can appreciate the structure of a quality franchise system and know what it takes to make their franchise a success.
How can you know for sure if franchising is the right choice for you? While there is no one correct answer to that question, there are certain qualities a person must have to be successful in franchising:
Related: 12 Signs You Have an Entrepreneurial Mindset
In order to be a business owner you need to:
While working as a corporate employee will certainly provide you with the skills needed to become a business owner, working for someone else and being your own boss are two completely different worlds. There are a few things that come as a surprise to new business owners:
Do you think you’re ready to take the next step and become a business owner? You can find topics like these and more discussed in my book, The Educated Franchisee. You’ve labored for someone else long enough. It’s time to use what you’ve learned as an employee to finally be your own boss.
Related: These Entrepreneurs Braved New Frontiers in Franchising and Found Success
https://www.foxnews.com/us/4-reasons-why-former-employees-make-the-best-franchisees