Considering going from corporate cubicle to entrepreneurial home office? If so, you have already decided that working as an employee in the “9 to 5″ grind does not match your future goals and aspirations. Though you may be excited to start a new venture, the transition from employee to entrepreneur can throw you for a loop. And the inevitable disorientation can cause you to constantly spin your wheels wondering what to do.
Before you quit your day job, reflect on your future and where you envision yourself years from now. Do you see yourself working at your home on an internet business, starting a completely new venture or jumping on the bandwagon of a successful franchise? The answers to these questions will lead you to deciding which business will fulfill your expectations for a better life than your current experience.
Two of the biggest concerns from professionals when starting a entrepreneurial business deal is the apprehension of whether or not they can maintain or exceed their current level of earnings while increasing their quality of life. I understand that you may be concerned about providing for your family and replacing the same freedoms you enjoy now. Look for an opportunity that can not only replace your income but exceed it tremendously!
While you are looking for a business in which to transition, consider the three models and the pros and cons of each.
Buying a Franchise Business
New entrepreneurs tend to gravitate towards the franchise concept, because they feel safe with this model. With a franchise you will capitalize on the past successes of the establishment; however, investment versus return can create some undesired issues. You may need to buy multiple franchises to establish a high return on investment.
Creating a Unique Business
Creating a new business from the ground up requires an extensive amount of time and investment, not to mention capital. The rewards can be great, but the prize may not be worth the cost. Instead of building by innovating and creating, entrepreneurs in these scenarios are often forced to work long hours performing all tasks associated with the business and consequently end up exhausted and unfulfilled – not a recommended way of life.
Joining a Home Based Business Opportunity
Home businesses have enjoyed increasing popularity in the last ten years and have become one of the fastest growing business segments. New internet businesses mimic the automation franchise model because most of the infrastructure costs have been covered and the system responsibilities rest in the hands of the company in which you join forces.
Are your wheels still spinning? Just remember, when reviewing any opportunity, whether a new home based business or a new start up, devise a plan and a checklist detailing your key concerns. Seek advice and discuss them with a mentor you can trust. He or she will treat you as a peer, yet will lead you through the unpredictable times to success and fulfillment.