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


















                                                            8
   7   8   9   10   11   12   13   14   15   16   17