Start Building Your Ideal Business Model

Did you know that most people start their franchise search backwards? They start by going online or going to the franchise and they're looking for that, “I'll know it when I see it” type of feeling. The challenge is that they're only looking at what they're aware of. They're not seeing opportunities they haven't considered as good possibilities.?

Identifying Your Transferable Skills and Strengths

However, where you want to start is with YOU. What are your skills? What are the things that you bring to the table? What do you want, and why? We call this building the ideal business model and there are 3 main components to talk about:

First, think of this - what are the three primary resources that every business owner needs, that you're going to need to figure out??

1. What are your transferable skills? What are the things you're good at and what do you like to do?
2. How much of your own capital do you have to invest, and how much are you comfortable borrowing??
3. We also look at how much time you're going to have for the business, and what's the structure of that time? What kind of weekly time structure do you want to have once the business is up and running??

Thinking About the Criteria

The next component is what are the 10 to 14 different criteria? Most people only think of 3 or 4. How many hours do you want to work? What kind of money do you want to make? What type of staff do you want to have? There are actually lots of criteria to think about so that you're not surprised after you buy the business.?

Clarifying Your Goals

Then the third is the most important - what are your short-term, mid-term and long-term financial and lifestyle goals? Why are you going into business, and what do you want to achieve through business ownership that you haven't yet been able to achieve through the career that you've had up until now??

Think about when you were dating and you were looking for your ideal life partner… Did you not have a set of criteria? Well, the same goes for business. It’s important to build and clarify your critical criteria as it relates to business; we help you do that.

I'd welcome a conversation with you to help you better understand the process and help you get clarity on your goals, so that you can find your best opportunity. Let's have a call.