5 Signs You NEED to Be Your Own Boss

“I wish I were my own boss.” – We hear people say it all the time. It’s a nice idea in theory: report to no one, set your own work hours, never have to deal with a coworker again. But few people have a full idea of what it really entails, and it’s possible that even fewer have what it takes.

In the book Born, Not Made, it is argued that some people are just more naturally suited for the self-starter route than others. There are specific qualities that more often lend themselves to successful entrepreneurial endeavors, such as decisiveness, a high energy level, great tolerance for risk, and, unsurprisingly, self-confidence.

Still sound appealing? Here are a few signs that striking out on your own may be right for you.

1. You want more control of your time.

This is a common reason people give for wanting to be their own boss. But it’s important to understand that running your own business is not all butterflies and rainbows. Yes, technically you now control your hours, but for those hours to be profitable, longer work days are often required. The tradeoff is that now you can decide when you want to work, and that it’s work you’re (hopefully) passionate about.

2. You have a good support system at your back.

It’s likely that more of your time will be devoted to your career than before, and you need people in your life who can understand and support that. Being your own boss can often be lonely and isolating, especially if you work from home, so people who will be there for you when the going gets tough (and it will get tough) are crucial for avoiding burnout.

3. You have a real passion for what you want to do.

There’s really not much point in striking out on your own if you don’t first have a passion that you want to see brought to life. The important thing here is that you are also able to translate that passion into the work that you do for your clients. Enthusiasm for your work is not just important, it’s essential.

4. You don’t need help staying motivated.

To successfully be your own boss, you’ve got to be a self-starter. There’s no getting around this one. No one will be there to hold you accountable or to make sure the work gets done. The buck stops with you. This requires being more proactive than reactive, and being able to efficiently manage your own time.

5. You are resourceful and unafraid of doing things on your own.

As your own boss, you alone are responsible for managing bills, clients, taxes, legal issues, finances, sales, materials, etc. You must be capable of juggling every responsibility at once, all on your own time. You will also have to attend workshops, networking events, fundraisers, conferences, seminars – all without the protective bubble of a group. Don’t be afraid to promote yourself and get your name and business out there.

If any of these traits spoke to you, self-employment just might be in your future. And franchising is a great way to go! Visit our website to learn more about how you can start a Bruges franchise today.

 

All gifs courtesy of giphy.com.

4 Tips for Choosing a Great Franchise Location

Location can have a huge impact on the success (or failure) of your business.

Yes, most franchisors will provide you with their specific location criteria but you need to do your own homework as well to ensure that you have the greatest chance of success.

Here are four tips to help you choose a great location for your new franchise.

1- Scrutinize the Traffic Patterns

It may seem trivial, but the traffic and parking patterns around your location can make a huge impact on who patronizes your business or just drives on by. To truly grasp a solid understanding of how important this is, drive to the location from different directions and at different times of the day. Pull into the parking lot and determine if there are enough spaces. Sit across the street and watch the area. Think about public transportation and foot traffic as well.

2- Consider the Competition

You want to corner the market in your area so you can maximize the number of customers coming through your doors. There isn’t much point in being the fourth pizza joint within a two block radius and splitting the pizza customers four ways, for example. That’s why it is so important to consider your surrounding competition. Does what you offer stand out from what’s already in the area? Is there a location that is lacking what you can give them?

3- Examine the Area’s Economics

Take a moment to examine the economics of the area in which you want to open for business. Is your product or service in line, price-wise and quality-wise, with what people can afford and want to spend to get it? On the flip side, can you afford the neighborhood? Will the rent, taxes, and insurance eat too much into your profit potential?

4- Deliberate on the Demographics

It’s important to deliberate on the age, social status, and preferences of the locals in a potential area. Whoever lives or frequents the neighborhood will be your customers so be sure to cater to their needs, desires, and tastes.

When you find what you believe to be the perfect spot to open your franchise, seek the support of your franchisor. They will offer their suggestions and advice and will help you navigate the real estate system.

For more information about owning your own Bruges Franchise, contact us today.