I was having a conversation with my sister the other day, which I enjoyed immensely. We live too far from one another to see each other regularly, and getting together doesn’t happen often enough.
After pleasantries and family catch-up, she proceeded to share a story of two cousins that had chosen business ownership as a path for a “side venture” while keeping their respective corporate jobs. Also known as “semi-absentee” ownership, the hiring of a manager, and then managing the manager.
These cousins had indicated to her that the business was not doing well. They shared they had decided to sell, even though the business had a very healthy start.
As I listened to my sister, the hairs on the back of my neck started to rise. Just the thought of people having the courage to take the leap to invest in themselves and then giving up made me cringe. It’s so disappointing to go into business and give up without fighting through the rough times.
What is even more heartbreaking, I had spoken with these two cousins before they decided to go into business ownership. They never wanted to follow a process of discovery to define a model that would fit their skill sets, roles in the business, or their personal or financial goals.
It saddens me when people venture into something as significant of a decision, personally and financially, of business ownership without knowing all they can about the journey.
A good franchisor will undoubtedly provide all the tools necessary for that model and set you up for success. With that, there are still factors they cannot provide, which is the drive, effort, sacrifice, and the belief that only you can have for the business, and without those in any capacity, one should not venture into this realm.
I have always prided myself to stay true to my mission of helping people make the proper transition to business ownership when applicable and when not to advise them that ownership is not the right fit for them.
If you would like to learn if business ownership is right for you and which ones will fit your journey, let’s chat.
