Look Outside of Your Comfort Zone When Exploring Business Ownership, Says Richmond Business Coach with The Entrepreneur's Source

For many experienced professionals, finding a job in today's economy can be very tough. Business owners, of both large and small companies, are focused on the bottom line more so than hiring new talent. Therefore, entrepreneurship has become a more viable option for many. The term, "forced entrepreneurship" is becoming a new trend as jobseekers consider the new normal in this "New Career Economy", according to Michelle Connor of Richmond, a business coach with The Entrepreneur's Source (TES). 

"When considering whether to invest in a business, look outside of your comfort zone," says Connor. "In other words, it might be time to learn about something that's in an industry or business sector from which you have no prior experience. This might strike you as insane, but consider the insanity of doing the same thing over and over again and expecting different results. In my experience, I find, oftentimes, that people are short changing themselves and they have many more transferable skills than they might realize. 

"I help people discover new business models all of the time and I'm amazed at what happens when people think outside of the box and take the time to research other options available to them," Connor continues. "Ninety-five percent of my clients end up discovering business plans that they, admittedly, had previously dismissed or would have never considered on their own, prior to working with us." 

The tools and resources offered by TES are designed to help people identify their income, lifestyle, wealth and equity expectations. By working with business coaches like Connor, clients learn about different business models, while trying to identify what they want their life to look like several years down the line. When researching entrepreneurship, clients have the options to use online tools like FranchiseMatch or work directly with a business coach to learn more about how various business models can meet their goals, needs and expectations. 

"My clients get very excited when realizing that they don't have to be in love with or have prior experience with a product or service in order to capitalize on it," says Connor. "It's very gratifying when they discover that a business is simply a vehicle that can take them to the next level of success, which can ultimately help them to meet the goals they have set for themselves and their families." 

According to the International Franchise Association (IFA), the franchise industry has seen a 40 percent growth in the past decade. With over 3,000 franchise companies and, on average, 9,000 franchise units, overall, the success rates of franchised businesses compare well to non-franchised startups. 

"I encourage people who are currently in a career transition to at least spend a little time researching business ownership, specifically franchising. Although it might seem as if the economy is a dark cloud hovering over successful career options these days, business ownership can be the silver lining that gives people more control over their future and financial security," Connor said. "The days of retiring from one corporation after working there for many years are long gone in this 'New Career Economy'. Today's workers are continuing to adjust their career goals, and business coaches are in a unique position to help them understand not only what types of opportunities exist, but also the types of opportunities that can match their personal needs for a rewarding career." 

For more information on financing a new business, franchise opportunities and business coaching support, local business professionals are encouraged to contact Michelle Connor of The Entrepreneur's Source in Richmond at (603) 239-3693, mconnor [at] esourcecoach [dot] com or www.theesource.com/mconnor or visit http://www.entrepreneurssource.com/.