1. To Avoid Irrational Bosses
In as much as you sometimes go the extra mile to be a model employee, there is a crop of bosses who are hard to please. However, you should bear in mind that they are human too and carry the weight of their own personal issues be it dealing with a heartbreaking relationship or a stalking spouse, a post-adolescent rebellion, or work-related stress when coming up the work ranks. Some of the bosses out there have not taken any therapy sessions nor had the benefit of having a face-to-face counseling session. As such, do not for a second blame yourself, probably purchasing a franchise may be the best option for you.
2. The Need To Build Equity
Being employed does give you some sense of security. You get a steady income with added benefits such as insurance covers and health benefits plus the possibility of a retirement plan. However, these are all good until you either mess up at work, get downsized, or even fired. Yes, the opportunity to work for someone else saw you get enough money to cater for your daily expenses and maybe have something left to save and even to inject some cash into your retirement plan. All that is good, but did being employed change your way of living, take your lifestyle to a higher level? If it did, then lucky you. However, higher chances are that this is not the case and would be the reason you seek new options such as starting your business.
Ask yourself, what you have to show for all the time and effort you put into working for someone else. It may be a severance package, or you have enough money to pay COBRA insurance premiums until you find or start a new job. Maybe you have the pleasure of knowing you have health benefits; chances are the thought of sending your employer or boss a thank you letter will not even cross you mind. One of the thing that many employees forget is the fact that they are not presented with the chance to create equity. Equity is almost a reserve only for the business owner.
Having equity in your last job present you the opportunity to sell the job for a profit. But, have you come across or heard of an employee who sold his or her job! What you most probably have heard is some people who sold their businesses. That is the power present by equity.
Strive to have a franchise, your own business that you can grow and possibly sell it for a profit when such a need arises. That’s equity for you.
3. The Aspiration To Enjoy Freedom
Consider the following scenario. Your job needs you to travel for a week or possibly an entire month or even two weeks every month. The positive take of this is that you get to travel every other day, and you just might be making some good money. However, now there is an upcoming championship volleyball game and your daughter expects you to go and see her play as you cheer her team. The week of the championships is when you are home for a week. Great. On the other hand, work has really been bogging you down; you have sales number to maintain, and your new boss is yet another new puzzle that you need to solve. Also, there is this new client in Dallas and is among your top 3 big customers who expect you always to be a phone call away. Yes, you have the magic that helps them get through technical issues and having been doing so over the last couple of months. So, you just might say all is going well.
The week of the championship starts off with a high note, and you are looking forward to seeing your little angle play on Friday night. On Wednesday, your client from Dallas calls saying there are new issues that have arisen that need your immediate attention. You do your best to resolve them via phone, but they are too technical. You call your IT team the next day to help and work through the night, but nothing gives. The only option left is to fly out on Friday. Now you are faced with the responsibility of explaining this to your daughter. Your heart breaks as you watch her walk away crying, and it get you shedding a tear too. As you turn towards the door, you are flooded with different emotions of anger, sadness, and disbelief.
It is not the first time that you have had to leave something of importance that your family expects you to be part of, but this particular incidence stings more than the others. You hate the fact that you have no control of your work schedule. Your company is losing some significant market share, the new boss is on your case and less appreciative of your efforts, and you are working harder than before to turn the tables around. On the other hand, your daughter is hurting because her dad is rarely at home and he even has to miss a big game, her most important game. Shouldn’t this be a wake call that tells you it is time to change!
4. To Create A Legacy
Some business ideas can be a great family business in the making. Think of it; how great it would be to guarantee your child a job after graduating from school. We know more of the 9 – 5 work model that runs from Monday to Friday, but this has changed over the past years. Today, employer loyalty is almost like a facade. People between the ages of 20 – 30 years a finding it harder to get jobs. Steven Little says that the crop of graduates in the next decade will be faced with seven different careers, not jobs. Is this the kind of uncertainty you would wish for your children?
It is possible to secure your family’s future but starting a business that your family can be involved in its growth and success. Now that’s ensuring a promising future.
Some of the family business ideas worth considering include retail stores, dry cleaning chain, pet related business, or sign companies. Bear in mind that your kids might opt not to be part of the family business, which should not be an issue. You can sell the business, share the proceeds amongst your kids, and have something left for you to relocate to a new place.
5. Taking Part In Community Work
It might make little sense to you when you find someone who has a franchise but makes it part of the local community project. It should not be that strange to you. There are people who start businesses with the intentions of making it a means to give back to the community. Some will even opt to be part of franchises (either buy shares or invest in any other form) that make an impact in the community.
Even so, most of such folks are people who have years of doing business and have experienced high levels of success in their many different ventures. They have the finances to invest in virtually any other venture they see of interest. Nevertheless, they still do aim for investment that offers an excellent ROI because they believe in people earning from their hard work. Nothing is for free. They aim to invest or start businesses that will impact the community positively and still have notable returns.