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5 Ways to Prepare for Business Ownership

Everyone has an opinion on the right way to prepare for an entrepreneurial venture - and we're no different. Though there is no one-size-fits-all when it comes to taking a step toward business ownership, there are a few tips we encourage you to consider. For Business Ownership, Continue Ahead 1. Determine the reason why you […]
Written by Kourtney Kopp on July 1, 2022
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Everyone has an opinion on the right way to prepare for an entrepreneurial venture - and we're no different. Though there is no one-size-fits-all when it comes to taking a step toward business ownership, there are a few tips we encourage you to consider.

For Business Ownership, Continue Ahead

1. Determine the reason why you want business ownership

Everyone has a reason. Maybe yours is an innate desire to lead, be free, leave a legacy, or have control of your finances and life.

Whatever your inner or outer driver may be, identifying your WHY for business ownership will only help you. It's important to root yourself in your dream so that when inevitably you fall slightly off track, you can pick yourself back on and continue trekking forward.

2. Have honest conversations

Have them with yourself, family, friends, and anyone involved in your next chapter.

So often, the excitement of a pivot can get in the way of the "life admin" you must set time aside for. Because at the end of the day, if you don't talk through and plan for scenarios, how will you attack the difficult ones that arise without the feeling of overwhelm taking over?

3. Build a support system

This goes hand and hand with having honest conversations. The people in your life who stick by you through the dreams you have and decisions you make about them will become such a support during these trying times.

Remember, you can ask for help, guidance, and reassurance - the people you choose for this support role will expect it and hope you trust them enough to lean in.

4. Accept what you cannot control

For the entrepreneurial type, this can be difficult. People who thrive in business ownership can come across challenges when their vision is disrupted by things out of their control.

To be fair, this is also a normal human experience. But deciding and understanding that the necessary thing to do is accept all that comes your way and trust that you will make it to the other side.

5. Speak to industry experts

You want to own a business or buy a business? This goes back to determining why you want to be an entrepreneur and what that vision looks like for you.

Franchising is the "I want to buy a business" route, and it's an extremely rewarding industry. At FBA, we have brokers ready to speak with you about your interest in business ownership.

Which Road Will You Take Toward Business Ownership?

You can visit our website anytime at www.franchiseba.com or give us a call at (866) 395-4697 to take one step closer to your dream of business ownership.

We look forward to helping you find a franchise you love and trust!

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