3 minute read
If He Can Own His Own Business, Why Can't You?
by Amanda Tokos, Consultant, The Franchise Consulting Company
I remember sitting at my desk as a U.S. Probation Officer listening to a recently released felon tell me how he was going to be a business owner. I admittedly thought to myself that it was an unrealistic goal. Almost impossible…because he had been in prison for almost 5 years, had no education, and no prior experience owning a business. Unless you counted his career as a drug dealer. Despite my reservations, I put him to the test by asking him various questions. He had no idea that I had a degree in business management, nor that I was planning to open a business of my own in the near future. Here I was thinking that I might be able to help him, but was quite flabbergasted as he explained to me in elaborate detail how he was going to open an upscale clothing store for African American men in his community. While in prison, he had read many books on business ownership, put together a business plan, and worked with friends and family to find an investor, retail space, and vendors. This man did in fact open up his own business despite so many people telling him it was impossible, all while I sat back in awe of his vision, passion, and determination.
Fast forward 12 years, after I left my career to open a franchise, followed by two more buildouts and an acquisition, then a partner buy-out, an old acquaintance of mine reached out to discuss franchise opportunities. I asked him why he thought he wanted to be a franchise owner and he said because he felt he would do a good job and just needed a chance. I didn’t quite understand what he meant so I asked that he elaborate. He said he just needed someone to by Amanda Tokos, Consultant, The Franchise Consulting Company believe in him enough to give him the money to invest into a business. When I asked him what he had done to position himself with investors in terms of industry experience and sweat equity, he admitted that he had not done anything of the sort and just felt someone should give him a chance. I almost spit my coffee out!!!
These two very different stories resonate with me. Not because neither one had the financial means, experience or education to open a business, but that only one of them believed in himself. The other one believed others should believe in him. I have had the honor of listening to hundreds of stories from very successful entrepreneurs from all over the world, and regardless if they started out with a net worth of $0 or $5 million, the common denominator I heard was that they believed in themselves, even when no one else believed in them. It didn’t matter. Many even experienced failed businesses. It still didn’t matter. It was truly through their business tribulations that they become resilient, continued down the path of entrepreneurship, and developed into successful business owners.
I often times talk with clients who have never owned their own business and are afraid to take that leap into business ownership due to the unknown. They literally want me to tell them if they can do it. While I do believe certain personalitytraits are prevalent in entrepreneurs and essential, “you” have to “decide” if you can do it. No one…not your family, not your friends, and not your favorite franchise consultant, can tell you if you can do it. The answer truly lies within you. But if you have a vision, passion, and determination, I suspect you do believe in yourself, even when no one else does, even when things get tough, and even when you fall down. I further suspect that you get up after you fall down, keep grinding, stay focused and reach your goals. Again, because you do in fact believe in yourself. Just sayin’. THE ANSWER TRULY LIES WITHIN YOU.
ABOUT THE AUTHOR
Amanda Tokos has ten years of franchise experience as a former Massage Envy owner and operator of four locations. She advises on franchising options and career transition, while also playing an active role with her local Chamber of Commerce on their Leadership Advisory Committee promoting entrepreneurship within her community. amanda@thefranchiseconsultingcompany.com
