A new year brings a new tidal wave of hungry aspiring entrepreneurs that are looking to become business owners in 2020. Looking to make a change this year? If you want to become your own boss but are unsure how, read below and take notes of Award Leisure’s top tips to become an entrepreneur.
Time is Everything
What is the most valuable resource to you? If you want to become a business owner your most valuable resource needs to be your time. Invest you time into the right things, think about what is going to boost your start up process. The best way to be in control of your time is to create a basic action plan. Seek advice from mentors and existing business owners or attend business conferences/seminars to ensure you are not jumping in feet first and investing your time into something not worth-while. As an Award Leisure franchisee, you’ll be part of a network of successful business that will offer you advice from the start up of your operation and throughout.
Look Past Brexit
Brexit can be a scary topic if you are a business owner. Many experts agree, Entrepreneurs that have passion, motivation and a clear business plan/vision will work around the issues involving Brexit. At Award Leisure, it is our duty as a franchisor to be aware of political, financial and economic changes to our network and their business, eliminate any uncertainty and don’t let Brexit hold you back. Read our other article on Brexit by clicking here!
Figure out you Financials
Understanding and being in control of your finances is so important for any business owner. There are some really key parts of your finances that you must understand before you are a business owner. Cash flow management is the first step, forming a budget and sticking to it is a sure fire way to ensure your business always has money. It is always a good idea to have a contingency plan in place as you can’t always predict what is going to happen.
Give yourself a salary! We encourage our franchisees to give themselves a salary, this helps to eliminate any personal financial struggles. By doing this, you are able to be more focused on your business and to be more dedicated to its success.
Set up your financial goals – set weekly, monthly and annual financial goals and constantly work towards them. Achieving small goals within your business works towards attaining the long term vision.
Work With Family
Because of our story and being a family run operation, at Award Leisure we encourage our franchisees to work with their own family and friends. There are many positives about working with family, these include:
- A positive environment, collaborating with people that you care about on a personal level and a higher level of trust is bought into the business.
- A more relaxed work culture
- More motivated workforce that understand everyone is working towards one common goal
There is a lot more to starting a business than what’s included in this article – visit our other blogs click here and read more about franchising and business. To learn more about becoming an Award Leisure Franchisee and owning your own showroom – book a discovery day!