Are you tired of the 9 to 5 grind? Does the thought of having to talk to your boss one more time about vacation days strike fear in your heart? Do you have a burning desire to explore entrepreneurship and its challenges, risks, and rewards? Perhaps it’s time to consider being a small business owner. Here are a few ways to become a business owner.
Being a Small Business Owner: 4 Ways to Become a Business Owner
Being a small business owner can be rewarding. Contrary to popular belief, there are several ways to become a business owner. This article will cover several other options for becoming a successful business owner and leaving your current job behind once and for all. Read on for some simple yet exciting ways to become a business owner:
1) Buy an existing business
If you are not necessarily excited at the thought of building something from the ground up, consider buying an existing business. Do your legwork, and find the value of your chosen business before the final purchase. If numbers and accounting are exciting to you, perhaps learning how to value a CPA firm before buying would be a good idea.
You won’t want to get into something that is not going to net you a consistent profit, and doing a bit of homework ahead of time will allow you to step into this new chapter of life with confidence.
2) Start a franchise
Buying a franchise allows you to gain the advantage of an established brand and established success. Proven systems of operating and training ensure success right out of the gate, and these systems will allow you to avoid common mistakes that many entrepreneurs make their first few years in business. If you want more of an insurance policy against failure, consider buying a franchise for a little bit of an upfront fee.
3) Starting from the ground up
- Want to make your own rules?
- Do you truly want autonomy when it comes to building your dream?
Being a small business owner can help you with that.
You’re going to have to go gangbusters with starting from the ground up. When no other option will do, and you have to do things your way, you need to start your own business, your own systems, and use your own terms. Yes, you’ll have a bit more of a challenge when it comes to navigating the ups and downs of your formative years, but nothing can quite take the place of knowing that you grew something successful all by yourself. Go for it!
4) Buying shares in an established business
If you want to make some cash, but you are too busy to build? If you don’t want to put in the work that builds business demands, maybe it’s time to purchase some shares in an existing business.
An established business already has:
- positive cash flow
- trained staff
- a solid reputation
It can be great if you are okay dealing with co-owners and you can navigate the waters of negotiation. It is one of the easiest ways to net positive cash flow without some of the back-breaking work that building a traditional business brings with it.
Being a Small Business Owner: In Conclusion
Regardless of which method of business building you choose, you are about to enter an exciting time of growth and ownership!
You should know:
- what you want from owning a business
- what to expect as you enter into one of these methods of building
- how to anticipate all of the rewards that come with owning your own business
Here’s to your continued business success!
Are you ready to get on the road to being a small business owner?
AUTHOR LaTia Longuemire
My name is LaTia Longuemire. I enjoy writing, singing, and cooking in my spare time. My passion is helping others. At this stage in my lifetime, I'm primarily focused on my children. They are everything that keeps my world spinning.