When I work with someone who is considering entrepreneurship, the conversation is really a series of questions. Asking the right questions and going deep for the answers will help someone decide if starting a business is right for them and help them decide which business is the right fit.
We start with why. Why are you interested in being a business owner? If the answer is that your job is making you miserable, or it feels like a dead end, we ask why again. Why are you unhappy with the job, the company, or your role? Why does it feel like you’re not advancing? Is it a question of earnings? Of personal growth? Of being able to take on new challenges?
I also probe for what they love about their work, or what they used to love doing. It’s important to understand what motivates someone to get up and go to work each day before we can find a good fit for them.
Then we ask another important question: why now? Is there something happening in your life right now that made you take a step in this direction? Are you trying to move toward something? Or away from something? These questions are not easy, and my job is to help a prospective owner figure out what matters most in their life right now.
Once we’ve established some of their values, I can ask another question: when you imagine owning a business, what do you feel? What will change? The answers might include flexibility to live a lifestyle that makes you happy or allows you to spend more time on what – and who matters.
The answers might include autonomy, the ability to decide when, where, and how much you work. It might include the ability to grow your income based on how much effort you put in. It might include the ability to challenge yourself to develop new skills.
It’s important for them to imagine how owning a business would be different than what they’re doing now. It sometimes takes several rounds of “why” and “what” to get to the core issue they hope will change with business ownership.
Finally, I ask about how they want to feel as a business owner. The answer might include pride of ownership, feeling fully engaged, or that they’re making a difference in their community (or the planet.)
Some people want to own a business because they want to build a legacy, something they can be proud of. They may want to employ their children or leave them something of real value after they’ve retired. They may want to own a business so they can create jobs, build a team, create a meaningful work culture, or mentor employees.
They may talk about connecting with their passion, but in my experience, many business owners don’t expect to feel passionate about running a company unless it’s using a skill they’ve always dreamed about. Most business owners think of their business as a way to finance their passion, whether it’s cooking, travel, making art, or some other fulfilling pastime. The business itself can be anything you can run well that generates income and allows you the time to pursue your interests. That gives us plenty of possibilities to work with
The good news is that there’s a business model for almost any kind of lifestyle and wish list. You can customize your business to meet your needs, whether they’re professional, financial, or personal. Your preferences and level of commitment (whether you want to run the business yourself or manage a team) will determine what kind of business makes the right fit for you. And it starts with asking the right questions.
Whatthefranchise is a Strategic franchise consulting firm that has helped people for over 30 years to find the best franchise via proprietary assessment tools.
Marshall’s background includes over 39 years of business ownership, sales, marketing, and consulting experience.. His first endeavor as an entrepreneur was as an independent contractor for the South-eastern United States with the Optyl International Eyewear company, based in Austria. During his tenure with Optyl, he was awarded the Consultant of the Year for the United States. Marshall parlayed his success with Optyl into a successful partnership of optical retail superstores in Jacksonville. His company also worked as outside consultants with Vistakon, a Johnson & Johnson company.
Whatthefranchise is an affiliate member of the IFPG group which is the largest franchise consulting group globally.