An Exciting Business Venture Isn’t Always The Best Idea
This was going to be huge for him and his wife. They had plans to partner up with a family friend that was financially very successful. They were going to open up in two highly populated locations and they were bound for success. After a while my young friend started to do the numbers as far as what he was going to have to come up with for a business loan to be a partner compared to the franchise percentages that he was going to make.
He realized that it was going to take him several years before he was in the clear and able to profit and even then it wasn’t going to be that satisfying. He knew that he would also sacrifice countless hours of his time toward this business. He felt that the amount of effort that he was going to have to put in for the reward was too much.
He then came across a network marketing opportunity with some friends of his with low overhead and higher leverage than this other business could offer. He never saw a network marketing business as a career, but he signed up for a distributorship and after a year was making more than many CEOs.
Make Sure Your Business Is The Right Vehicle
Now my point isn’t to say go sign up for an MLM because you are going to make millions or to say avoid restaurants like the plague. There are many MLM situation where people don’t offer good training and you are not surrounded by skilled individuals. Then there are times the opposite happens when you are starting a restaurant business and you have the guidance and support to know how to create a great establishment and a hefty income.
Realize that with any business opportunity you are going to face challenges, you have to pick what negatives you want to avoid the most, or what upside you see from your choices. The restaurant industry potentially has a lot of overhead involved, employees, customer issues, licenses, and countless other concerns. A MLM business requires a great deal of communication skills, ability to take rejection, not getting caught in hype, and the list goes on.
Just decide wisely how you follow your passions so that you don’t get burned out and that you are leveraging the effort and money of others to help your cause so that you can enjoy a lot more in life.
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Filed Under Starting A Business |
Tagged With business_loan, business_opportunity, ceos, franchise_chain, mlm, network_marketing_business, network_marketing_opportunity, restaurants, start_a_business
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Very true. Business is highly uncertain. Business isn’t always about success.