Page 12 - MIND YOUR ASSET
P. 12
ANTHONY KAIRUZ
Franchised businesses have already been tried and tested, processes and procedures are all in
place. For brand-recognition and shared skills, the Franchisee pays a royalty fee to the
Franchisor. Study the demographics and good location. This could be an alternative business
choice.
If you don’t know much about the business you want to start, but are set on it, be prepared to
spend enough time learning about it before you begin. Talk to people in the industry, look at
the market and source experienced workers.
Keep in mind that giving yourself enough time could mean delaying your grand opening, or
otherwise stalling your business’s launch date. It is much easier and much cheaper to realize
that you don’t want to own a particular business while you’re still in the planning stages, than
it is when you’re already knee-deep in operating it, with vendor contracts, signed leases and
loans. It is vital that you and your business are a good match.
I believe that the businesses that show better results are the ones that are Owner-operated.
Someone who is passionate and loves what he/she does.
Set goals and track your business progress. Take 5 minutes at the end of each day to access
how you lived up to your goals. Use a diary to document the progress you are making.
Acknowledge your progress as well as identify opportunities where you could have made
more out of your day. Be totally honest with yourself.
IT IS VITAL THAT YOU AND YOUR
BUSINESS ARE A GOOD MATCH
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