When thinking about franchising, it is important to know your mindset. Are you a business owner or an entrepreneur? In a business conversation, the terms “small business owner” and “entrepreneur” are typically used interchangeably as if they mean the same thing. So, is this a matter of semantics? Or is there an important distinction to be made here?
The topic can lead to a discussion that takes us in a variety of directions, but we mainly find that the biggest distinction between the two is the mindset of one versus the other.
Here are some points to consider:
The Small Business Owner works harder; The Entrepreneur works smarter.
The Small Business Owner hires more people; The Entrepreneur builds systems.
The Small Business Owner micromanages; The Entrepreneur removes him/herself from the day-to-day tasks.
The Small Business Owner feels that he/she is the only one who can do the job the right; The Entrepreneur spends time hiring the right people.
The Small Business Owner believes that MONEY is the most valuable possession; The Entrepreneur understands that TIME is the most valuable possession.
So is One Mindset Better Than The Other?
Both are important and valuable mindsets in our economy. One is not easier nor harder than the other. Both types of people can be happy with their chosen mindset and direction. And it’s very possible to have both mindsets and embody both styles in your business at different stages. But just because you started your own business, it does NOT automatically give you an entrepreneurial mindset. Sometimes it develops over time. Sometimes it’s uncovered with the right business.
Entrepreneur = Franchisor
You guessed it! I’ve found that the Entrepreneurial mindset is right in line with franchising and the Franchisor mindset. Literally thousands of franchises have sprung forth from this entrepreneurial spirit. And when you look at all the aspirations of an entrepreneurial mindset, franchising makes perfect sense!
So which are you? Are you ready to take your Entrepreneurial Mindset to the next level?
