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Don’t let fear of selling hinder your entrepreneurial dreams

Don’t let fear of selling hinder your entrepreneurial dreams

Many new entrepreneurs don’t come from sales backgrounds and don’t have sales teams to rely on. The thought of selling is daunting. In fact, one of the most asked questions of me by those considering the franchise business model is, “I don’t have to sell, do I?” Of course we’re talking about capitalism here, so somebody’s got to sell something to somebody to make the world turn, so to speak. And if you think about it, in any job you’ve gained or held, you had to sell your manager that you were the right person for the job. Most of us conduct sales related actions each day to influence or motivate behavior and/or actions; and we don’t even recognize that it is happening.

How do you define selling?

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Top reasons people have not started their own business

Top reasons people have not started their own business

Entrepreneurial Question: What are the top reasons people have not started their own business?

(As reported by those saying they would like to start their own business)

Here’s the story:
Some 39% of employees hope to own their own business, according to a recent survey released by the University of Phoenix Business School. And the younger they are, the more they want it. More than half of workers in their 20s who don’t own a business hope to do so in the future, while 50% of workers in their 30s and 35% in their 40s want to start their own business. One-quarter of workers in their 50s and 17% of workers age 60 or older who do not currently own a business want to do so in the future.

In the University of Phoenix Business School survey, when working adults who said they wanted to start a business were asked why they hadn’t done it yet,

  • 67% cited a lack of adequate finances;
  • 33% said they needed more education or training and didn’t know enough about running a business;
  • 30% said they have not found the right idea or concept;
  • 22% simply said they don’t have the time; and
  • 17% say they need to develop leadership skills.

“Starting your own business can be an exciting and fulfilling pursuit, but requires significant planning, resources and business knowledge,” said Michael Bevis, director of Academic Affairs for University of Phoenix and faculty member for the School of Business. “Many potential entrepreneurs have great ideas and a strong understanding of specific industries, but often do not have the business background to turn concepts into profitable ventures. Business education can help entrepreneurs fill knowledge gaps and strengthen business acumen.”

Want to know more? Read the entire story on the University of Phoenix website.

 

Entrepreneur Spotlight: Robinn Scholfield

Entrepreneur Spotlight: Robinn Scholfield

Meet Robinn Scholfield, Advocate for Women and the Franchising Business Model

Periodically, I highlight successful entrepreneurs and share their story with my followers. It could be someone we’ve helped acquire a franchise, someone we met while networking or someone we admire from afar. This post puts the spotlight on Robinn Scholfield, a Kansas City-area entrepreneur who has owned, operated and sold multiple businesses.

If you haven’t met Robinn Scholfield, then you probably don’t know that her mission is to empower women by helping them maximize their personal image. She accomplishes her mission through Image Evolution, her latest entrepreneurial adventure. Judging by the growth of this new business venture thus far, and her track record, she’s well on her way to building another successful company. (more…)

Franchise Business Owners Seek Work-Life Balance

Franchise Business Owners Seek Work-Life Balance

Achieving a better work-life balance is often cited as one of the main drivers behind a person’s decision to invest in the franchise business ownership model. Just what is meant by work-life balance though? Is it working seventy percent of the time while having thirty percent to do as you wish with family, leisure, travel, physical fitness, etc.? Or is it the flip of that formula, or a different balance altogether? (more…)

Franchises and Veterans, a Match Made in Heaven?

Franchises and Veterans, a Match Made in Heaven?

Why veterans can make great franchise business owners

I believe that veterans have numerous characteristics that can make them successful business owners and franchise operators. Operating a franchise requires a variety of skills – and the military tends to cultivate these skills. Following are the top skills that veterans often gain from their service to our country that benefit them when they operate their own business. (more…)

Affordable Business Ownership Opportunities for Business Development Professionals

Affordable Business Ownership Opportunities for Business Development Professionals

Today, many people with business development skills and experience are looking for affordable business ownership opportunities. In addition to traditional franchise business models, a number of low-cost business opportunities (also known as “biz opps”) exist for them to consider. The investment range for biz opps is relatively modest, usually ranging from $20,000 to $75,000, and they are well-suited to people with a history working in a business development role.

Biz opps’ low initial investment provides an opportunity for a quick return on investment (ROI). The low monthly operating costs provide the potential for attractive profit margins, as well as great flexibility with work hours. The owner can work as few or as many hours as desired – without any pressure from the boss. (more…)