ADVICE FOR FIRST-TIME BUSINESS OWNERS
Franchise Advice from NOVUS Glass, St. Paul, MN
Sometimes the most important thing you can learn from a job is that you are capable of so much more. When you know your leadership, organizational, and sales skills are top notch, it can be difficult to wait and wait (and wait) for your turn to be promoted. If that itch for greater challenges and greater success is ready to be scratched, NOVUS Glass, with a 45-year franchise history, has some practical advice.
1. Don’t be Swayed by the Newest Flavor. When searching for that exciting, new venture, you may be tempted to jump on the bandwagon for the latest and greatest concept – that sexy new business that looks too good to be true. Guess what? It probably is. The new business can make claims of large profit margins because their pool is limited to a few hand-selected locations. The data they cite may be for a limited time frame. Great caution is advised when looking at any new business, especially a new concept; the risk may not be worth the results.
NOVUS Glass franchise business developers suggest you evaluate your innate skills and passions. This is your starting point. What do you enjoy doing? Are you a front of the house or a behind the scenes kind of person? Do you like managing others or would you rather be self-sufficient? When you build your business from your strengths and talents,you will have a greater chance of success. That old saying ”Do what you love so that you love what you do” is so true! Find something that that makes sense for you and for your community– something you can put your heart in.
2. Know Where to go for Help. You will not be an expert on everything about your business. Accept that. The important thing to do is to know what you don’t know and find out who does. A great franchisor will have great training to get you started but also people you can call when the going gets tough. Make connections with other franchisees in your system and help each other. Join civic groups in your community and learn from other business people. Then become a mentor to others.
3. Watch your Spending. A common phrase in entrepreneurship is that you need to spend money to make money. Don’t believe everything you hear! This is your business, built from your savings (and possibly from business loans) and your goal is to make a profit, not pretend you are rolling in cash. NOVUS Glass suggests you remember that your wallet is your company’s life-blood. Be frugal; spend only what you need to and maintain a low overhead. If you are not great with accounting software, find someone who is.
4. Do the Right Thing. This last piece of advice is easy, in fact you probably learned it in preschool: Follow the leader. Now this may be a bit confusing. According to Dictionary.com, the definition of entrepreneur is “a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.” That’s where entrepreneurship and franchising differ. Franchising is for those who want to own a business but don’t want the responsibility, risk and expense of doing everything on their own.
If you want to ride on the coattails of an established enterprise, with a known brand name and a tried and true processes, then follow your franchisor’s advice. Save your time and energy for building the business, not inventing it.
NOVUS Glass can help you become the business owner you’ve dreamed of. It is a global brand with 300 franchises in North America and 1,800 locations in 30 countries.If this is the level of business expertise youare looking for,visit our site at https://novusfranchising.com/, or call 1-800-944-6811 and request more information.Back