How to start transitioning into business ownership

You have a large interest in the operations side of business, and you’ve always dreamed about owning and operating your own business but you’re still stuck at a 9-5 job, because after all it pays the bills, right? Does this sound like you? If it does, chances are you are itching to become a business owner but you just do not know where to begin or how to transition.

With the overwhelming amount of technology we now have at our fingertips, there are so many opportunities to work wherever, and whenever you want, as well as create a career that is on your terms. If you are ready to say goodbye to your traditional 9-5 job, and hello to a customized career allowing you the freedom to create a job on your terms and build something for you, the time to takes steps towards this transition is now.

Here are some things you could be doing now to help begin your transition from employee to business owner.

  1. business ownership networkingNetworking. At your current job, you are most likely continually in contact with other business professionals, companies, vendors, etc. Taking advantage of as many networking opportunities as you can, now, in your current position, can serve to help you in your new business. These connections can be ones that you contact, or get involved with down the line when your own business is up and running. Meeting, and establishing relationships with connections that could be beneficial to the field your potential business will be in is key.
  2. Make the switch to part-time. This one may be hard for some, as cutting your hours to part-time means less pay, which may not be doable for everyone. However, decreasing your time in the office allows for more hours in a day to be dedicated to investing in yourself and your future business. A lot goes into starting a business, and this added time that you will be putting in prior to launching will help aid in a smooth transition.
  3. Look for freelance opportunities in the business you want to open. To go along with number 2, when moving to part-time within your current job, you have also allowed for time to do other things, like freelance. Freelancing within the field you are looking to build your business can serve to both gain clients, and create a buzz about your work, while also allowing for a supplement income to your decreased hours.
  4. Start organizing your finances and saving. Saving while taking a pay cut may sound like an oxymoron, but, placing a small amount of money aside into a savings account each paycheck can go a long way. Organizing your finances can also be as simple as just that. Putting a real plan on paper can help to make the “idea” feel real, and serve to help motivate you to get there. There is also always the option of acquiring a business loan. If you are thinking about purchasing a franchise instead of building your own startup, many banks prefer providing loans to those purchasing a franchise because of the systems and business plans provided by the franchise model, and the increased success rate. The Brothers that just do Gutters business plan is SBA (Small Business Association) approved, which makes getting a loan for purchasing a Brothers Gutters location, even easier.
  5. business ownership booksConsider educational services on business ownership. Using some of your current available time, you may want to consider educational services, webinars, books, coaches, etc. that can help you learn and understand what is needed for your business and as a business owner. Knowing the amount of work necessary, capital needed, setting realistic short-term and long-term goals, and educating yourself on leadership skills prior to becoming a business owner, will put you ahead of the game, and better prepare you for your new lifestyle, and the responsibilities that will come with it.
  6. Dedicating the time needed. As mentioned above, working less hours can allow for more time to work on your business ventures, but cutting back hours at your 9-5 may not be an option for you. Also, even when cutting back hours, working on your business and your future plans takes dedication. Making sure to dedicate this time is the most important thing you could do to help in your transition to a becoming a business owner. If you will still be working full-time, this dedication will need to be even stronger since your time to work on yourself and your business will likely be nights and weekends. But it is important to think of the big picture, keep your eye on the prize, and let that serve to motivate you.

If you think owning a business is right for you, but you feel like you don’t have the time, energy, ambition, and/or resources to build a start-up on your own, franchising may be the perfect opportunity for you. Your dedication, passion for operations, and dream to be a business owner could fit perfectly into the role of franchisee. Imagine building a business that is yours, on your own terms, and using technology to customize your business for you? Now also imagine all of that without having to start from the ground up and build systems, and practices all by yourself while also having to wear several hats within your business. Purchasing a franchise allows for exactly that; a business of your own, without the sometimes grueling process of starting from the ground up. If you are ready to make your entrepreneurial dreams a reality, and want to combine your skills with a systematic approach to business practices already proven to be successful, you are ready to become a franchisee!

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