Benjamin Franklin supposedly once said, “if you fail to plan, you are planning to fail”. Whilst it might be far too early to start planning your 2020 summer holiday, it is certainly the time to start planning how to make next year a great success!
If you’ve been considering a new career, perhaps itching to start a business or launch your very own franchise now is the time to plan. So, where do you start?
Let’s look at our own example. Home Care Preferred launched in 2012 and whilst franchising was always a goal, the franchise launched in 2017, a full 5 years after the inception of the company. The reason being that there was a plan. Testing and trialling of all the different elements of the company have lead to a robust and easily replicable business model. How did Home Care Preferred achieve such a successful end result? By starting with the goals we want to achieve and working backwards. So let’s start with goals:
Plan with your goals in mind
It might seem quite daunting but planning where you would like to be in one year, two years and three years will really help. Place into a diary what you would expect yourself to have achieved, for example; launch my franchise business in December of 2019. Now work backward from that date! What do you need to do to get there? Do you need to become financially stable? Perhaps you need to review your finances to understand your commitments better and see what your budget might be. Have you already picked out the franchise business you want to launch? If not add a date in the diary to start your research and be strict with yourself to make sure you keep to it. Start the conversations to meet your own goals.
All or nothing?
It’s a question we get asked a lot… do I have it all, full-time employment whilst building up my franchise business? Or, do I bite the bullet and quit my job? This really depends on your plan! If you weighed up the options, considered your finances and spoke to your franchisor then you should be able to make a decision. If you need time to launch and build your franchise business, consider changing your full-time role to a part-time one. We’re often afraid that “rocking the boat” might leave us with nothing (we’ll come to backup plans in a moment), but your employer could be incredibly understanding – you won’t know until you speak to them, but keep reading before you do!
Control the situation
This brings us to control! Control is what entrepreneurship is all about. If you need to have a conversation with your boss about your future, take on the responsibility to do that rather than going-with-the-flow. Don’t shy away from your responsibilities to live a life you want and dream of just because of an awkward conversation with your employer.
Plan for the worst
We mentioned that backup plans were a good idea and every entrepreneur knows that even the best intentions and plan executions could go very wrong. Just take J.K. Rowling, who had difficulty finding anyone to publish the Harry Potter series. She worked tirelessly on her books whilst being a single mother on benefits but could not find anyone to publish them for her. Today, she’s incredibly successful (as you know) with books, movies, games and even an amusement park! Or, look at Bill Gates who started a business, failed and is now one of the richest men in the world!
Why are we telling you this? Whilst planning can be fun, daunting and exciting, it’s a good idea to also create your own backup plan! Life tends to throw us curveballs we don’t expect, so make sure to have an acceptable ‘plan B’ that you would be happy living with. It’s Ok to fail if you have worked on something thoroughly, planned the appropriate elements and pushed for what you want. But, failing to plan is like losing the battle before you’ve even started!
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Categorised in: Startup Tips
This post was written by Home Care Preferred