A Common Franchise Ownership Myth:
“I must convert a deep passion into a business in order to be successful.”
There is a common belief that you need to know and love a product or service to capitalize on it. This is a myth, or what we at The Entrepreneur’s Source call a limiting belief.
Most of us are raised believing that myth, but you do not need to love a product in order to capitalize on it. If it is a viable business model, perhaps it may make sense. The idea that a person needs to love a product to be able to capitalize on it is a limiting belief that inhibits investors from exploring all their options.
The Porta Potty story is a great example. Do you believe … really believe … that a successful owner of a Porta Potty business is passionate about … Porta Potties?
Uh, … No.
Here’s a video summary:
I have met such an owner! His passions? Time with his grandkids and their sports activities, golf, volunteering at this church, traveling the world with his wife, mentoring the young GM he hired, “playing” with the business P&L, and engaging with clients and vendors. His business serves a marketplace need, he runs it well, and he leverages it for his real goals in life, which are lifestyle and financial in nature.
Oh. I should also mention that … he makes a lot of money.
There’s a successful restaurant owner in one of my old business networking groups. He doesn’t go to his own restaurant … because he doesn’t like the loud music. So, no: He doesn’t … “love” … the successful business he runs.
The Point?
View your business for what it is: A vehicle to help you achieve your income, lifestyle, wealth, and equity goals.
“Nobody grows up thinking, ‘Oh my gosh, one day I want to be in the Porta Potty business,’ however, our Career Ownership clients see that it is perhaps a feasible business model to consider,” said Tamara Loring, Brand Manager for The Entrepreneur’s Source. “If a Porta Potty business gives them the return on investment they desire and therefore generates the income, lifestyle, wealth and equity they want, it could be a great business decision. It is indeed a myth that people need to love and enjoy products in order to be able to capitalize on them.”
Not all business models are ideal for every individual. The Entrepreneur’s Source Career Ownership Coaches pride themselves on the ability to match franchisors with individuals who work best with the established franchise business model.
“Empowerment enables people to suddenly experience the freedom and liberty of being able to work on their own dreams. Along that way, they will actually be surprised because some of the myths or beliefs that they hold near and dear to their hearts will be dispelled,” said Terry Powell, Founder of The Entrepreneur’s Source. “For instance, people typically believe that they need to be in love with the product or service in order to be able to capitalize on it. Through the journey of discovery, they realize that perhaps that was a myth.”
Myths and stereotypes can influence people and derail their dreams. Are you ready to begin anew; with an open mind toward Career Ownership for YOU?
Reach out to me! I help people though career transition, specializing in their exploration of self-sufficient career options. My services are complimentary to those I work with, so don’t hesitate to email me at jreid@esourcecoach.com or schedule a ~15 minute chat on my calendar. You owe it to yourself to see what entrepreneurial options are out there!
To your success!
Julian Reid, jreid@esourcecoach.com , www.jreid.esourcecoach.com , www.Facebook.com/FranchiseOptions , www.LinkedIn.com/in/julianreid
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