Are you an Entrepreneur?
There is always a debate about whether or not entrepreneurs are born or made. Arguments can be made for both cases but when it comes to opening and running a franchise you will definitely need the entrepreneurial spirit running through your veins to be successful. When you run a franchise things aren’t just handed to you. If you are comfortable being a cog in the machine then owning a franchise probably isn’t the right field for you.
Before you consider owning a franchise, first find out if you are an entrepreneur. While there is no one definition for what makes someone and entrepreneur there are some qualities you should have if you want to be successful.
- Be an Innovator – Succeeding as an entrepreneur requires embracing everything new. Relying on tactics from years ago will equal a quick exit in the franchise business. Innovators love the idea of new ideas, new marketing techniques and out of the box thinking when it comes to management. If you have these qualities then you may be an ideal entrepreneur.
- Enjoy Risk Taking – Taking risks is at the heart of every entrepreneur. From the success stories to the failures, everyone has the guts to try things no one else will. Running a franchise involves risk and if you don’t have the stomach for the ups and downs of the business world then look for another job. From the way you manage the staff to how you market the business, taking risks is what separates the winners from the losers and every entrepreneur who left their mark on the world took more than a few chances.
- Lead, Don’t Follow – An entrepreneur is the one who jumps at the chance and has no fear when it comes to venturing into the unknown. Even the most established franchises take risks with new locations and owners and if you don’t have the leadership mentality it will be very hard to succeed. Think about how you react to situations and assess whether or not you have the leadership qualities it takes to run a successful franchise.
At Between Rounds we are always ready to help innovating, proactive and savvy entrepreneurs realize their dream of owning and managing a successful bagel franchise.