Archive for August, 2012

 

Do you remember the first time you took a 10-meter dive? I still catch myself reliving that moment. My stomach bunched in knots, and I felt all shades of fear while doubt whirled around my head. Taking the plunge for the first time can be petrifying. But there are those who dive from great heights with ease, turning it into an art. Both my mind and my muscles confirmed that my first dive was far from perfect.

 

You don’t have to be a novice diver to empathize with the sensations “AHHHHHHHHH!” and “WHAT WAS I THINKING?” Life alone offers enough opportunities to take the figurative dive, especially when you open your first business. Just like with diving, there are techniques first time businessowners can keep in mind to get their business off on the right foot, despite the accompanying sensations of an emotional free-fall. 1. Ready. Are you ready? The best way to answer this question is to interview fellow business owners who survived the plunge and study how they did it. You need to wrap your mind around the paradigm shift of working for the man to becoming the man. Are you ready for people to depend on you for a paycheck? Are you ready for long hours and sleepless nights? Owning your own business holds great potential for fulfillment and financial success. However, business ownership will also be one of the most difficult things you will ever accomplish– are you ready for it?

2. Set. The next step is to ensure your business structure is sound and plan how you’ll launch it. When you’re diving, you must choose your landing: a belly flop, a pencil dive, a swan dive, or flailing around and hoping you won’t break something. This is comparable to structuring your business because it determines how you “land” once you’re serving customers. People often turn to franchising because they are investing in a business whose structure has been tested and proven successful. And there are a multitude of industries and sectors to choose from, so they can still own a business they are passionate about. Also, buying a franchise resembles hiring a personal trainer coach you on diving like a pro before your feet ever leave the rock.

3. Go. Once your feet are over nothing but air, remember there is no going back. From this point on, you need to be wholly devoted to landing your figurative dive. Have you ever seen a diver float back to solid ground after falling 5 of the 10-meters? Launching your business is no different.

As someone who’s been starting and growing businesses for the past 20 years, I can say it is the most difficult and most satisfying thing I’ve done (that includes my 10-meter dive!). If you would like to discuss starting your own business, feel free to contact me at @DScottAbbott or sabbott@fivestarfranchising.com.

 

Subscribe to D Scott Abbott
Copyright© 2009