How to Stop Working and Own Your Dream Business: A Guide from The Entrepreneur’s Source
Ever caught yourself dreaming up fantasies of being your boss? You’re not alone. According to the Small Business Administration, there are more than 33 million small businesses across America. Not many people are pleased with the idea of going to a 9–5 job, and they want to escape their job, but putting in your first step towards this freedom is often what stops them. And that is where a Career Ownership Coach® becomes your North Star.
| Source | Statistic |
|---|---|
| Gallup’s State of the Global Workplace report | Only 21% of employees are engaged |
| Bureau of Labor Statistics | The average employee changes jobs 12 times during their career |
| LinkedIn survey | 63% of professionals would contemplate changing careers but don’t know where to start |
What these statistics speak to is that there are many who are preparing for a change, but just don’t know how to initiate it.
What’s Holding You Back?
Perhaps you are thinking, “sounds great but there are some problems…” Common concerns include:
- No capital to bootstrap
- Fear of failure
- Lack of business experience
- Not knowing which business to select
- Work-life balance worries
You probably should not go rushing into this whim act of the start-up life, right? And the fear of not having enough cash, the dozens of options on which company to select, or whether there is any way to maintain a work life balance, are totally valid. But with the right guidance, these will be addressed and thus eliminate a lot of needless stress while giving you the greatest shot of realizing your business ownership dream.
How a Career Ownership Coach® can change the game.
Consider a Career Ownership Coach® your private tour guide on the path to business ownership. They give you direction and a measurable goal, keeping your eyes on the prize.
Discovery and Assessment: Your coach helps you realize
- Your strengths and skills
- Your goals and dreams
- Your ideal income level
- Your preferred lifestyle
- Your risk tolerance
Options and Opportunities: They introduce you to
- Different business models
- Franchise opportunities
- Industry trends
- Funding options
- Support systems
Education and Guidance: Your coach provides
- Conducting research and analysis in the marketplace
- Business model comparisons
- Financial planning help
- Decision-making support
- Reality checks and feedback
Coaching by the Numbers: The Science Behind Its Effectiveness
- Studies have demonstrated that you are far more likely to achieve your goals when you work alongside a coach.
- Franchise businesses succeed about 90% over five years, versus roughly 50% for traditional startups, according to the International Franchise Association.
- Statistics indicate that 96% of business owners believe coaching helped them achieve their goals more quickly than when they did not have the benefit of a coach.
Your Path to Becoming a Business Owner
Here’s what an average journey looks like when you partner with a Career Ownership Coach®:
| Phase | Duration | Activities |
|---|---|---|
| First Meeting | 2 to 3 Weeks | Evaluate your position, Define your goals, Identify more roadblocks |
| Education Phase | 4-6 weeks | Know about different types of Business models, Risk financing options, Study the market potential |
| Discovery and Selection | 6-8 weeks | Analyze companies, Speak with business owners, Discuss financial projections |
| Decision and Action | 4 to 6 Weeks | Choose your business, Develop your action plan, Begin implementation |
Success Stories: Every journey is different, but here are typical patterns of success we observe:
- Sarah — a new multi-unit owner (traded in her corporate job to open 3 successful franchise locations)
- Malcolm — an IT professional found the ideal fit for a business coaching franchise.
- Lisa — turned a passion for health into a successful wellness business.
Making the Move: Practical Steps
- Begin With Full-Time Employment: Most thriving business owners maintain their day jobs while considering the possibilities. This relieves pressure and keeps cash flow steady.
- Educate Yourself: Take advantage of complimentary resources and webinars and read any educational material your coach may provide.
- Network Effectively: Boost your network and listen to the experiences of other business owners. Having that sense of community and shared knowledge will instill a function where you feel connected and supported on your journey.
Understand Your Finances: You should do this in conjunction with your coach
- Startup costs
- Operating expenses
- Revenue projections
- Funding options
| Category | Details |
|---|---|
| Work-Life Balance | Forbes cited Upwork’s Future Workforce Report, remote work would hit 22% by 2025 |
| Technology | 77% of small businesses reported a boost in operational efficiency via digital tools (Deloitte’s 2023 Digital Transformation Survey) |
| Funding | Digital lending market valued at $12.6 billion in 2022, projected to reach $71.8 billion by 2032 (Allied Market Research) |
| Support | More than 300,000 small business owners supported through SCORE mentorship programs in 2023, 87% success rate |
Work-Life Balance: Forbes cited Upwork’s Future Workforce Report, which revealed that remote work would only hit 22 percent of the workforce by 2025, meaning that those who relied on working from home for a healthy work-life balance need to actively seek new methods of boundary-setting and availability-ensuring if they hope to maintain any semblance of both personal time and space.
Technology: It has become easier to run a business owing to technology. Seventy-seven percent of small businesses reported a boost in operational efficiency via digital tools, according to Deloitte’s 2023 Digital Transformation Survey.
Funding: More funding sources are available than any time in the past. As per a new report published by Allied Market Research titled, “Digital Lending Market — market forecast from 2023 to 2032,” the digital lending market was valued at $12.6 billion in 2022 and is projected to reach $71.8 billion by 2032.
Support: There are better support systems in place for new business owners. SCORE revealed that more than 300,000 small business owners were supported through its mentorship programs in 2023, with mentored businesses achieving an impressive success rate of 87% compared to those without a mentor unlike others.
Your Next Steps
Sign up for FREE Strategy Session with a Career Ownership Coach®
- Keep all options on the table
- Commit to the Process of Discovery
Business owners do not just pop up overnight and start becoming successful — they are coached, trained, and guided into success. With the right support from a Career Ownership Coach®, you can:
- Find the Perfect Business Match
- Avoid common pitfalls
- Make informed decisions
- Build a sustainable future
Business ownership does not have to be isolating or intimidating. The dream of business ownership can be a reality with expert guidance from The Entrepreneur’s Source.
Ready to take the first step? Start here today and begin your path toward your Career 2.0®.
About Your Career Revolution
Our mission is to help individuals explore self-sufficiency as an alternative career.
We help them define their Income, Lifestyle, Wealth, and Equity goals and provide education on the best ways to achieve them. We don’t sell franchises – we help people achieve their dreams of self-sufficiency through business ownership. The approach is different, the experience is different. And it works.
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Learn More About Career Ownership Coaching®
If you are considering a career change, invest in yourself to discover your options, possibilities, and dreams. Chat with one of our coaches to begin your career revolution. To learn more about Career Ownership Coaching®, visit www.entrepreneursource.com or check out our guidebook, “Your Career Revolution: Reimagine and Reclaim the Life of Your Dreams.”
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