Boo! What’s Your Greatest Fear in Becoming Your Own Boss?

Being that this week is Halloween and all, we thought we’d get the discussion going on the topic of fear. Specifically, what’s your greatest fear in becoming your own boss? And, how might you get past those apprehensions to make your entrepreneurial dreams come true? We’re here to tell you that experiencing any amount of fear of the unknown is completely normal. In fact, the absence of fear in this situation might actually be scarier in comparison. FranNet is here to bring you a list of fears you may already assume, but with some helpful advice and workarounds for conquering them.

How will we live without a steady paycheck? This is likely the foremost concern of all entrepreneurs who want to strike it out on their own. Which kind of begs the question—are you assuming that franchises don’t pay salaries to their owners? It may take you a few months to get to your breakeven point (based on your business plan), but the last time we checked, our franchise clients aren’t working for free. You have to trust the process to see things through. To be willing to give up short term security for long-time happiness.

What if my business fails? It might. But we have an equally important question for you: what if it succeeds? Are you prepared for that outcome? Is success something you’ve been trained to believe is for others and not you? In almost every client case we see, if you put the same amount of effort and hard work into a franchise that you’re already giving to someone else, you’ll be just fine in the end. Don’t believe us? Total up the hours you spend at your job (including getting ready, commute times, etc.) and tell us with a straight face that the same amount of hours spent just on your own enterprise won’t produce success.

What am I supposed to do about health insurance? OK, we get it. That is an extremely important concern for you and your family and often times is one of the biggest hurdles to cross. But you need to know that employers are not the only game in town when it comes to securing decent coverage for your loved ones. There are many avenues you can choose to investigate which will replace the coverage you once relied upon. And we can help you get those answers. Here’s another thing to consider—health coverage as an owner’s expense is tax-deductible. Ask around, get some quotes for independent insurance and you may find out this isn’t a moat which can’t be crossed.

When it comes to taking those first steps on the entrepreneurial path, your mind needn’t conjure up images of a scary forest at dusk, with reflective eyes beaming down on you from the treetops. It can also look like a rainbow-laden valley, lush with beauty. It’s all in how you approach your fears. And, of course, it’s only natural to think of fear this time of year, right? FranNet is here to remind you that not everything that goes bump in the night is something to be concerned about.

When you’re ready to take charge, choose entrepreneurism and become your own boss, we’d like to navigate you to the lush valley of your dreams—through franchising of course. Just make a no-cost, no-obligation appointment with one of our qualified FranNet consultants and we’ll take care of the rest.

And yes, you can leave the nightlight on for tonight.

Let’s chat! There’s a local FranNet consultant right in your market who knows that market inside and out – knows the personality of the market – knows the competitive landscape. FranNet has a great track record of assisting individuals on their path to entrepreneurship, and one of our franchise experts would love to provide you with guidance free of charge. Sound like something you might be interested in? Get started here and find your local consultant right now!

Oct 30, 2018