Franchise Opportunities Blog
Six Reasons to Be a Thankful Entrepreneur
As we approach the holiday season, we find ourselves reflecting on the year, measuring our successes and focusing on ways to avoid our lesser successes. Then, we start formulating our goals for the New Year. Looking back, we find that we are thankful for the circumstances that bring us to the present. As a franchise owner, there is much to be thankful for, from freedom and flexibility to the technology we use to run our businesses.
We’ve come up with six reasons to be a thankful entrepreneur:
- You have a great boss. Of course you do, because it IS you! As the owner, you have control over the decisions of your business. Things like who to hire, the type of inventory to stock, even the numbers of hours to put in are but a few of the decisions. Of course, having all the control can come with a downside. You may not have the funds to hire help, or to purchase large amounts of inventory, and you may feel like you are working 24/7, but remain positive that the hard work now will benefit you and the company later. And don’t worry that your efforts will go unnoticed – nothing gets by your boss.
- Your support system. Whether it’s the corporate office, a great group of employees, family and friends who offer encouragement (and occasionally pitch in to help), or even the regular customers of your business, a franchise owner has many people who offer support on your entrepreneurial journey. Additionally, your support system can include outsourcing services, like accounting or payroll services, allowing you to focus on the strengths you bring to the business.
- Social Media. There was a time when a marketing budget was large, while the scope was small. Today, even the smallest of budgets can provide a business with opportunities to impact their community. Keeping social media current and relative encourages people to follow. As your following grows, you begin to connect with people that may have been out of reach using traditional advertising methods. Embracing new technologies will attract different audiences, extending the business’ reach and influencing a new tier of clients.
- Technological Advancements. With so many great new tools to run a business, it’s hard to pinpoint the very best. Moving to the cloud offers affordability, flexibility and mobility. Not only does it help with applications (like phone service). It also helps with platforms (database and archive storage), while providing an infrastructure (network services). Smartphones provide a lot of great options for a small business owner as well. Credit card payment can be accepted with a smartphone and a card reader, and banking can be done using a mobile app. To increase brand loyalty, many business owners are creating loyalty apps, that allow returning customers offers for using the app (and for continuing to support the business).
- The Difficult People. Yes, you should even be thankful for these people. Why? Because the demanding, difficult to please and just plain difficult people in your life provide you with an opportunity to learn, to grow, and to be better overall. Dealing with a difficult employee grows management skills, and helping you in finding the right talent for your business. And, while no one likes dealing with difficult clients, this provides an opportunity to grow problem-solving skills, think outside the box, and can result in better products and/or better service.
- Flexible Financing Options. There are so many great financing options out there for the franchise owner. From Rollovers for Business Startups to SBA loans to Securities Backed Line of Credit, it has never been easier for an entrepreneur to find the ready cash to start a business.
Benetrends has a full suite of funding options, individually designed for your specific needs as a franchise owner. To learn more, visit Benetrends.com.