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HOUSTON BUSINESS REVIEW
YOUR Business Model
By Adrienne Leigh
Adrienne Leigh is the President of FranNet of Houston, a franchise consulting firm that provides coaching to clients who are exploring franchise opportunities. She has over 20 years of experience in franchising and entrepreneurial start-ups. Each week, she will provide comprehensive information on the $1.5 trillion franchise industry.You can reach Addrienne at 713-586-8836 or via email. To learn more about Adrienne Leigh, check out her here
In this series, we will explore the two parts that go into building a truly effective and meaningful Business Model.
Business Goals
This is an itemization of what you want to gain or change in your personal, professional and financial circumstances by being independent in your own business. These are "must fix" items and are the primary motivators behind your desire to become independent. Frequently mentioned items include such things as sense of control, more personal time, personal satisfaction, etc. Overall, this is your list and requires and deserves a lot of thought.
Business Preferences
These items describe your role in the business, how it should look, how it should operate, its structure, its potential for growth, etc. These should match up well with the skills you bring to the business, your personality and your interests. Some items in this list might be the hours and days the business is open, how many employees you would want, who you would like your customer to be (general public, other businesses), whether it is a retail or a service business, etc.
Begin thinking about your own personal business preferences. This will help you to identify how various businesses will fit your personal management style. While business goals tend to be universal, business preferences tend to be very personal. What's important to you in owning a business?
Remember, the Business Model should be THE guide your FranNet consultant uses to select and recommend franchises for you to investigate as well as for you to help determine if a particular franchise really provides what you want.
Do a great job in building the model and then...
...DON'T SETTLE! This is a huge decision. Make your Business Model thorough and accurate. Then use it!
Coming Next Week – Business Preferences Questionnaire
FranNet - The Franchise Connection provides FREE SERVICES for those looking to purchase their own franchised business. Ethical, experienced consultants give guidance, information and support while coaching clients to achieve their goals safely and affordably.
Meet real franchise experts and ask them questions, live!
FranNet - The Franchise Connection will be offering a series of free webinars, and seminars, each featuring a specific franchise opportunity, with valuable insight from an experienced FranNet expert.
To register for a seminar or webinar or to receive your personal Blueprint For Success and a free consultation with Adrienne Leigh, president of FranNet of Houston. Call 713-586-8836 or email aleigh@frannet.com Visit our website at www.frannet.com
