Virtually all the business media have been guilty of glamorizing the positive side of owning a franchise. Unfortunately, the negative aspects are sometimes either glossed over or simply ignored. As a result, many people go into business with blinders on… and end up well on their way to failure before they’ve even begun.
In my 18-year history of franchise marketing, I’ve identified the kind of people who do or don’t become successful franchisees. I’ve also identified many common misconceptions that may ultimately lead to business failure.
For starters, most people are used to working an 8-to-5 job, with a ‘boss’ directing them. When you’re in business for yourself, you must have the discipline to work independently. You can never say ‘Gee, I don’t have anything scheduled this morning, so I’ll sleep in.’ You must maintain the same work schedule or the same number of hours virtually every day. If you don’t have anything scheduled, you should read educational materials to further your business knowledge and capabilities.
No comments yet.