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Some of the most common reasons why people are interested in business ownership are flexibility, freedom, being your own boss, and financial benefits. However, these ownership benefits are not immediate, and it takes hard work to reap them.
At this point, if you’ve entered the initial stage of becoming, or deciding to become a business owner, you may be wondering what is next, and how long it will take to start obtaining the benefits of being an owner that you are after.
We can break down your path as a business owner into 5 general stages:
The Launch Stage
This phase happens when you pass the initial idea stage. Your research is done, and if you are purchasing a franchise you have chosen the right fit for you and your family. If you are taking the more entrepreneurial route and starting from the ground up, at this point, you have secured your idea. This idea is innovative, unique and a service that is needed.
At the launch stage, you have secured and are preparing your storefront/business operations location, and establishing initial systems. You are beginning to look for clients and officially open shop. If you have decided to purchase a franchise, this startup system has likely already been laid out for you, and you have a team to help you with the best practices for your launch. “We knew the systems that they had in place were working for them, and how far they had come, so why step out and try to recreate something that has already been created,” said Brothers Gutters Business Owner, Jessica Olang. Purchasing a franchise also allows for this ramp up to be quicker since the brand is already established and likely known, and you don’t have to figure out on your own how to run it. Did you know that when purchasing a Brothers Gutters franchise there is no need for brick-and-mortar? Read more on the benefits of a home-based business model HERE.
The Perseverance and Drive Stage
This is the stage that will likely be the most challenging. At this stage, those who are not in it for the long hall, and don’t have the passion and dedication to get over the hump, may not make it past this stage. You have begun to establish a steady clientele and operations for your business are coming together. Your business can run and be successful at this stage indefinitely, but remaining here will limit the benefits you will get to reap as an owner. At this stage, passion and keeping your eye on the bigger picture is key in reaching the top of the mountain to head down towards the next two extremely beneficial, and successful stages. The amount of time this takes is very reliant on you and the work you put in!
The Growth and Impact Stage
Now you can officially see that some of your hard work and perseverance in the previous stage is paying off. At this point you don’t feel so bogged down with all the business operations, you have a steady flow of jobs on the board, and you are beginning to make some great profits. Because of this, you can step back and evaluate your business a bit more. During this evaluation, you can try more unique marketing campaign, ramp up your social media and email marketing, and focus on gaining loyal client’s and beneficial feedback. This feedback from clients is key in your growth as a business, as is managing your reputation.
Here you can begin to see the light. You are beginning to reach a level of stability financially, and personally. At this stage, you may even begin to see hints of stage 4 & 5, where you can step away from your business a bit and enjoy some more flexibility. “In only our second year, we’ve already seen tremendous benefits of being business owners, like a flexible schedule, being able to have a little more money, and not having to feel like things are always tight. You can have a little more and you can put some money aside,” said Brothers Gutters Franchisee Jimmy Olang.
This is also the time where you can begin to impact others. Being able to have an impact on others is something that by human nature, makes it feel like what you’re working so hard to build is worth it. You can now impact, not just your own lives, but also those that work for you, those that you are serving, and your community. Jimmy and Jessica both understand the importance of this impact saying, “One of the things we are passionate about it helping people. The reward of feeling like you’re making a difference in your employee’s life is so enjoyable.”
The Progress and Profits Stage
Spilling over from the great growth you’ve seen in the previous phase. You are in the full swing of seeing the profits. Your business is running like a well-oiled machine and you can focus on beginning the process of transitioning your job duties to strictly managerial. You have recruited the right people and created a plan or system that can run smoothly without you being a part of every single piece. If you are a franchise owner, you have followed the systems and they have paid off, both financially and personally and you are now profitable and comfortable.
The Stepping Away Phase
It’s time to step away from your business and reap the desirable benefits of being a business owner that we discussed earlier! You can go on vacation, work less hours, and have more freedom without your business falling apart. The people who work for you and the systems established allow for you to do this, and before now, you had possessed many roles and jobs that go far beyond being the owner. This was necessary to build your business, but now you can finally focus on just being an owner. “I had the freedom to step away from my company and build a dream house. My wife and I were not only able to have enough money to do this, but were able to step away from the business at the young age of 36,” said Brothers Gutters Franchisee, Jeremiah Boles.
At this point, all your hard work has truly paid off and you are fully reaping business ownership benefits!
Although getting to the final stage of business ownership is hard work, this hard work makes the success feel that much greater once it’s reached. Seeing the progress not only gives you a great feeling of success as an owner, but it also allows you the lifestyle, you and many others have always dreamed about.
Are you ready to follow a proven system and successfully reach a level 5 business owner? Contact Ken, Founder and Franchisor for more information on Brothers Gutters Franchise opportunities.
See some Brothers Gutters Franchise success stories here:
Jimmy and Jessica Olang – Lehigh Valley, PA
Jeremiah and Rebecca Boles – Lynchburg, VA
Jonathan Mellett – Monmouth, NJ
Ken Parsons Sr. – Richmond, VA