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When starting your own business or taking advantage of a franchise opportunity, the first day can be as daunting as your first day of school, if not more so. You are entering into what is somewhat unknown. Your first day in your opportunity to be your own boss should be exciting, as this is your chance to build your own dream, instead of the dream of someone else.
There are, however, some points you should consider on your first day other than the excitement of taking on a new venture:
You can’t please everyone
Something you have to bear in mind, especially on your first day, is that it is impossible to please 100% of your customers. Ultimately, the most well equipped and stocked store in the world offers something for everybody. An easy assumption to fall into is that what your business or franchise has to offer has a complete widespread appeal. While it is important to try to please people, especially on your first day as this is when your image is first given to the general public, remember that some people will simply decide that your outlet is not for them.
Remember why you are doing it
Ultimately, especially in the case of a franchisee, what you are doing isn’t something somebody else isn’t doing or hasn’t done before. What makes you stand out from the crowd is why you are making the move to be your own boss, and possibly more importantly, how you deliver your service. It can be easy on your first day to assume that just because you have a product or service that you will stand out from the crowd. It’s important to remember that the reasons behind you offering your services are what make your business special, and these should shine through brightest on your first day.
You aren’t Superman
While you are clearly motivated and have what it takes to get your business or franchise off the ground, you have to remember that you can’t do everything. It’s your first day and things are likely to go slightly wrong at points, so don’t put too much pressure on yourself.
There’s no such thing as an overnight success
Yes, you may be busy during your first day, but business is a marathon, not a sprint. Your success will come through your hard work and determination, as well as an ability to see where you have made mistakes and be proactive in response to them. If you have a fantastic first day, that’s great, but remember to stay grounded.
This is relatively self-explanatory – it’s your first day and this is the public’s first view of both you and your business, so being ready is essential. Everything you need for your business to function should be there ready to be used so that you can efficiently serve your clients and customers.
The last thing you must keep in mind is simply to have fun. This is the start of something new and, assuming you have planned thoroughly, your first day will be fine.
When looking to start your own business, being your own boss of course has some clear rewards, but it’s important to ensure that you are ready to step up to the plate when becoming a franchisee, as the challenge isn’t for everyone.
To an extent, you have more freedom being in charge of your own work in comparison to working for someone else, but the workloads that come with being the one in charge can be stressful especially in the early stages. Statistics would indicate that currently in the U.S. new businesses fail far more often than they succeed – despite a recent resurgence in startup activity. The fact is, however, that with the right frame of mind, any business can succeed, so it’s best to ensure you are prepared.
There are a great many reasons why people start businesses and take advantage of franchise opportunities, but you have to consider the question ‘is entering into a franchise opportunity what is right for me?’
There are, of course, questions you must ask yourself from this:
Will you enjoy working as a franchisee?
What you must consider before entering into a franchise is whether or not you will actually relish working for yourself in that specific industry. The whole point for many when starting their own business or entering a franchise is to enjoy their work; if your work is not going to be enjoyable and something you want to do every day, then reconsidering your options would be sensible.
Do you have the time and resources?
Ultimately, there is no escape for anyone starting a business from how much it will cost in both time and money. Ensuring that you have an adequate amount of time and finance available for you to comfortably enter the realm of being your own boss is vital to your success.
Can you balance your family and business life?
For many entering into a franchise or starting their own business, it can be difficult to find a healthy balance between their family life and their business life. Many end up taking work home with them and this is not conducive of a healthy family or work environment. Ensuring that you know that work stays at work and your family life stays at home is important for your venture to survive.
Do you have the skills to be the boss?
Like most who enter into a franchise or establishing their own business, you may feel like you are more than qualified enough to manage your own team. If so, that’s great – feeling like you can step up to the plate is key, but being the boss isn’t just about being able to tell others what to do. You will have to deal with employee disputes, discipline, praise, and much more besides. Being the boss means you have to be a good and fair leader for your employees.
There are many more questions besides these that you could ask yourself, but answering these sorts of questions to yourself will give you a good gauge as to whether pursuing your goal of being your own boss is viable.