That combination is hard to find and a newbie who lacks either attribute will likely struggle. The networker who lacks an Networking dogged determination will have a tough time dealing with profit-margin fluctuation and other business-ownership risks. The Networker who lacks the discipline and desire to follow networking systems will alienate him or herself from the Multi Level Marketing and fail to deliver experiences customers expect from the brand.
Now, at the risk of oversimplifying this very complex process, we’ll start with a quick overview to help networking prospects determine if it makes sense to stick with their job, pursue networking ownership or launch their own business. Consider the following statements:
Employee: If the risks of business ownership scare you and you lack an entrepreneurial spirit, business ownership is likely not for you, whether it be your own or a franchise.
Creative entrepreneur: If you possess a creative mind that feels constricted by boundaries and models, starting your own business is likely your best bet.
Executive entrepreneur: If you are comfortable operating within a proven system and value support over autonomous freedom, franchising may be for you.
Of course, you should not make your decision based on which bullet fits you best. Those are simply conversation starters meant to help you explore your skills, personality, preferences, etc., in depth. Should you be serious about owning a franchise, I would recommend working with a franchise coach who can help you explore companies that fit your needs.
Here are the first three questions you should consider when deciding between owning a franchise and owning your own business. Use these as reference points when discussing business-ownership options with a franchise coach.
Are you an entrepreneur at heart? As mentioned above, business ownership of any kind requires an entrepreneurial spirit. You must be willing to act swiftly, lead confidently and accept full responsibility for your business’ future.
How much control do you need over the business? Access to an established brand and proven systems are two of the biggest advantages associated with running a networking business. However, networker must devote themselves to training and follow the networking model willingly to truly benefit from the networking. If you constantly seek to make changes/tweaks to improve systems and prefer total control, Networking is probably not for you.
How much risk are you willing to assume? Joining into a networking system allows business owners to minimize the risks they face as a business owner. In return for a monthly royalty fee, networking receive significant support from their mentors.
Support falls into the following categories: training and support, infrastructural backbone, networking community and re-sale ability. Together, these categories represent the value proposition of franchising. However, even the best franchise system still requires successful business operation by each franchisee at the local level. The risk associated with this is something that must be a motivator for you.
Remember -- this is a very tough decision. While these questions can certainly help you determine whether business ownership is for you, they do not help you determine what kind of business is right for you.
Be sure to surround yourself with an excellent team of advisors who can help you pinpoint a viable business-ownership opportunity.