As a Franchise Coach I often work with people from the corporate world. Folks who are coming to the conclusion that employment may not be a long term solution to their needs and goals. But what comes next? Occasionally we run into some statistics that really get our attention. That happened to me last week when I was on the SBA.gov website. I am directly copying the content from the SBA webpage: ‘One thing is for sure, as a small business owner you are not alone! There are millions of small businesses across the United States traveling the same road
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“What Do You Want to be When You Grow Up?” We all received that question when we were kids. What was your answer? Do you remember? Perhaps you wanted to be an athlete, a fireman, or our nation’s President before eventually settling into your current career, likely something far different from those early aspirations. However, when you think back to those early years, what were your parents doing? How closely does your personal career path resemble theirs? Odds are, your answer to that question is, “very closely.” That’s certainly the case for me as my father was a lifelong entrepreneur
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Quantifying Risk Risk is such an interesting topic. There are hundreds of books written on the topic and mathematicians have spent many lifetimes studying how to quantify, measure and calculate risk. The entire body of statistics is dedicated to this ‘science’. Yet after all these years we are still no closer to knowing which path to take in life. In a recent presentation we had a very interesting discussion between a former employee, Denise, and a former business owner, Jan. It went something like this. Denise, “I would like to open a business but it is too risky”. Jan, “I
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