Are all franchises the same? What do you need to know before you make that financial and emotional investment?
What kind of financial resources are required? What personal capabilities need to be brought to the deal? There is a lot of talk about someone needing to be entrepreneurial. Besides being hard to spell, what does that really mean, and what do you need to be able to do?
Truly entrepreneurial people are driven and all around self-starters. They are good at setting and accomplishing goals. They have this reservoir of energy they bring to whatever they are doing, every single day. They are always thinking, how can I improve myself as a person? and how can I improve this thing that I am working on?
They have high standards for themselves and others. They are always looking for feedback on how they can improve. They typically have a long-term career and life plan. If given the choice, they would work with experts over friends. They may sometimes rub people the wrong way because they are focused on the goal, and therefore can come across as somewhat insensitive to others.
Sound like you? Maybe you do have what it takes. You might ask yourself where does this information on entrepreneurs come from? I actually worked with Dr. David McClelland for 5 years in Boston. David founded a consulting firm known as McBer that did a lot of research in the area of motivation. David was also head of the psychology department at Harvard University. He wrote books on “The Achievement Motive”( thought to be the basis of entreprenuriasm) and “Motivational Trends in Society”. I also worked training entrepreneurs on how to increase their achievement thinking and behavior.
How does this entrepreneurism translate into the capabilities and competencies needed to run a franchise?
Those include:
YMCA Eyes Growth With Plans For New, Expanded Facilities
Emma Dill
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Apr 23, 2024
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Burns, Redenbaugh Promoted At Coastal Horizons
Staff Reports
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Apr 23, 2024
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Cold Storage Developer Sets Near-port Facility Completion Date
Audrey Elsberry
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Apr 24, 2024
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Wilmington Financial Firm Transitions To Wells Fargo's Independent Brokerage Arm
Audrey Elsberry
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Apr 24, 2024
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Krug Joins Infinity Acupuncture
Staff Reports
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Apr 23, 2024
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The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.