The DIRTY SECRET to Semi-Absentee Ownership in a Franchise скачать в хорошем качестве

The DIRTY SECRET to Semi-Absentee Ownership in a Franchise

Can owning a franchise be a side hustle? In some ways, semi absentee ownership is a bit like a side hustle... but here's the honest truth! 👉 Email me now for FREE Coaching: https://bit.ly/3ySHq5d 👉 Subscribe to KimDaly.tv: https://bit.ly/2YCDc1N 👉 Hear what my candidates say: https://bit.ly/3C7fRTi Follow The Daly Coach on Facebook:   / createwealththrufranchising   Connect with me on LinkedIn:   / dalykim   ---------- 0:00 Can you use franchising as a side hustle? 00:18 The Dirty Secret to Semi-Absentee Ownership Semi-absentee ownership does not mean absentee, nor does it mean passive. Because a business is a living, breathing, dynamic, ever-changing entity, it needs a leader. It needs YOU to be there. A franchise can be as full-time or semi-absentee as an owner wants it to be, provided that the franchisor allows for semi-absentee ownership. But here's the dirty secret to running your business as a side hustle: You have to be a great leader. 1:09 Why should you validate with Multiple Franchisees? So many franchise owners out there got into their business to be a semi-absentee operators, but today will validate that there's no way they could run their business part-time. When I hear that validation, I tell my candidates to call multiple owners. You have to ask the franchisor to find the people running their business as a side hustle. It's not apples-to-apples validation if you talk to just any owner, not knowing whether they intended to be full-time or semi-absent. Sometimes, people start with the best intentions to be semi-absent, but once they put their money into that business, they cannot leave it alone. Sometimes, it's hard because your W-2 job sucks compared to how much fun it is to be in your own business. 2:17 The Danger of Leaving Your W-2 Job for Your Semi-Absentee Franchise Too Soon Often, once people say yes to a franchise and their money is in it, their mouth is in it, their energy is in it, their passion is in it, they don't want to go back to their job. They want to use their business as their full-time job. If you invested in a business to be a semi-absentee owner, have the discipline to keep your job for the timeframe that you thought you were going to keep it when you said yes to this business. I worry that if you leave your job too soon and are looking at the business to provide cash flow, you will put too much financial pressure on the business too soon. Another scenario is people say yes to semi-absentee ownership, but maybe they've never managed people before, so they have a learning curve to hiring, training, and retaining good employees. They will have a learning curve to letting go and letting somebody else run the business when they're not there. That's not the easiest thing to do when your life savings is invested in a business. 4:34 Growing into a Leader Takes Time It takes time to grow into a leader. It takes time to grow into a leader who feels comfortable knowing that their employees will work hard, even when the boss isn't there. It takes time to grow into a leader who can step back and trust that their team and manager will take care of this investment when they're not there. But if you are such a leader the day that you say yes to your semi-absentee business, then discipline yourself to use those leadership skills you’ve honed in that corporate job to enjoy both the W-2 job and the business. One day, you’ll be able to pink-slip the W-2 job and step into the business. 5:17 Your Options Once You Leave Your W-2 Job But here's the thing. Once you leave your W-2 job because the business is now providing cash flow that you can live off, the whole idea is not to exchange your time for money. If the business has been operating without you, you're not going to leave your W-2 job and step into your business full-time. At that point, you have several options. One would be to come over to the business, focus more on it, and maybe grow it to multiple locations. Another might be to come back to The Daly Coach to find your second business. Another option may be to simply be semi-retired. This side hustle gig that franchising allows is a pretty big deal. There are many franchisors out there in 2022 setting up this infrastructure so that owners can come in as semi-absentee owners. Typically, people looking for this side hustle opportunity come in with a bigger vision because no one location needs them every minute. They can focus on scale because wealth is created through the scale in a franchise. If you are looking to find your side hustle, whether to complement a full-time job or because you are ready to be semi-retired, I would love to be your Daly Coach. ✉️ FREE CONSULT: http://thedalycoach.com/contact ▶️ Please like, subscribe, and ring the notification bell! #SideHustle #SemiAbsenteeOwnership #BusinessOwnership