INFOGRAPHIC: Veteran-Owned Businesses by the Numbers

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In our Veteran’s Day post earlier this week, we mentioned the fact that the VetFran Operating Enduring Opportunity program that launched in 2011 with a goal of recruiting 80,000 veterans and their spouses to franchising has already far surpassed that goal. 

More than 150,000 veterans, spouses and wounded warriors have started new careers in franchising, including more than 5,000 as franchise owners!

This infographic takes a look at the numbers behind veteran-owned businesses in America:

TEA is proud to support VetFran and to assist veterans in their search for a new business.  If you are a current or former member of the U.S. military looking to pursue a dream of business ownership, give us a call at 866-246-2884.  Our service is free, and we would consider it an honor to assist you with achieving your dreams.

You can also learn more about franchise opportunities at our free monthly webinar, Franchise Ownership as a More Stable Career Path.  The webinar is free, but you need to pre-register, which you can do online by clicking on the linked seminar title.

You may also register by calling 866-246-2884.

Is Entrepreneurship Contagious?

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A recent survey by the Ewing Marion Kauffman Foundation finds that exposing individuals to entrepreneurs may encourage them to start their own ventures.

The Kauffman study surveyed 2,000 Americans, asking them if they knew entrepreneurs – both in general and specifically “growth” entrepreneurs whose ventures add more employment and wealth to the economy – and if they themselves were entrepreneurs.  The data was then analyzed by age, gender, geographic region and income level.

Overall, 36.7% of respondents reported knowing an entrepreneur, but only 15.4% knew a growth entrepreneur. These differences were more dramatic when evaluated by gender: 24.8% of men claimed to know a growth entrepreneur, compared with 12.1% of women.

The results indicate a significant association between knowing an entrepreneur and being one: 37.8% of respondents who knew a growth entrepreneur were entrepreneurs themselves, as were 35.5% of respondents who knew entrepreneurs overall.

So what does an entrepreneur look like?  The Kauffman Foundation developed the infographic below on the Anatomy of an Entrepreneur:

To learn more about entrepreneurship through franchising, attend our free monthly webinar, Franchise Ownership as a More Stable Career Path.  The webinar is free, but you need to pre-register, which you can do online by clicking on the linked seminar title.

You may also register by calling 866-246-2884.

 

How to Tell If You Would Make a Good Entrepreneur

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Anyone with sufficient financial resources can own a company, but do you have what it takes to run one successfully?  Here are three ways to tell if entrepreneurship is the right fit for you:

Are you good at business?  Jobs are specialized, but business ownership is generalized.  Do you have the necessary business savvy to oversee all aspects of running a business?  It takes both vision and knowledge to be a successful business owner, with a skill set that enables you to create customers for your business and the financial knowhow to keep the business running smoothly.

Can you sell right now?  If all you have right now is an idea with no idea of who your customers will be or how they will receive your idea, then you can’t build a successful business.  If you want to consult, do you have a list of good prospects that you can turn into a business?  Are you in the right geographical location for your business to succeed?  Knowledge of your local economy will tell you if there is enough demand and growth potential for your business to get off the ground and keep going.

Are the numbers viable?  There are times in business when you need to trust your gut, but when you are first starting out, you need to trust the numbers.  Before you jump at an opportunity, run the numbers that will run your business.  If you need help, get a guide or a mentor to help you.

We have a free monthly online seminar that can help you learn to prepare yourself for entrepreneurship.  To attend our free monthly webinar, Franchise Ownership as a More Stable Career Path, you just need to click on the link to pre-register or call 866-246-2884.

 

Lessons on Entrepreneurship from Diana Nyad

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Yesterday, Diana Nyad completed the 110-mile swim from Cuba to Key West, her 5th attempt at completing the feat.  At age 64, Nyad fulfilled her lifetime dream of being the first person to swim from Cuba to Florida without a shark cage.  She first set her goal to make the swim in 1978, accomplishing it 35 years later.

Nyad said this time she found a mantra that helped her make the grueling journey in just short of 53 hours:  Find a way.  When she reached the beaches of Key West, she told the crowd assembled to watch her come ashore that she had three things to tell them:

1.  Never ever give up.

2.  You’re never too old to chase your dream.

3.  It may look like a solitary sport, but it’s a team.

Nyad’s dogged perseverance in the face of four failures is a lesson to all would-be entrepreneurs that sometimes it takes failure to succeed, that age is no barrier to success and that getting help along the way can help you achieve your dreams. 

To get the help you need to realize your entrepreneurial dreams, attend our free monthly webinar, Franchise Ownership as a More Stable Career Path.  The webinar is free, but you need to pre-register, which you can do online by clicking on the linked seminar title.

You may also register by calling 866-246-2884.

 

Latinos and Seniors Lead in U.S. Entrepreneurship

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According to the recent Kauffman Index of Entrepreneurial Activity, the Latino share of all new entrepreneurs rose from 10.5 percent in 1996 to 19.5 percent in 2012 and entrepreneurship for Americans over the age of 55 grew from 14.3% in 1996 to 23.4% in 2012.

Highlights from the report are displayed in the infographic below, which shows that even though entrepreneurial activity declined slightly in 2012 – due in large part to a recovering job market – there are still more than 500,000 Americans starting a new business every month.

To learn more about entrepreneurship through franchising, attend our free monthly webinar, Franchise Ownership as a More Stable Career Path.  The webinar is free, but you need to pre-register, which you can do online by clicking on the linked seminar title.

You may also register by calling 866-246-2884.

How to Tell If You Have a Great Startup Idea

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Do you think you have a killer idea for a business startup?  Before you invest in your idea, you might want to peruse the checklist below to see if your idea will pass muster with the marketplace:

You don’t need a great idea to start a new business.  Franchising can be a great way to channel your entrepreneurial spirit into a tried-and-true business model that can support you and your family for years to come.

To learn more about investing in a franchise, attend our free monthly webinar, Franchise Ownership as a More Stable Career Path.  The webinar is free, but you need to pre-register, which you can do online by clicking on the linked seminar title.

You may also register by calling 866-246-2884.

How We Will All Become Entrepreneurs

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While not everyone may be cut out to be an entrepreneur, the fact is that the way we work is changing and companies with traditional hiring practices are disappearing fast from the employment landscape.

This infographic shows how the workplace has evolved from employment to entrepreneurship, and if what it portrays is true, then why wouldn’t you want to work for yourself rather than lending your entrepreneurial skills to someone else?

To learn more about entrepreneurship through franchising, attend our free monthly webinar, Franchise Ownership as a More Stable Career Path.  The webinar is free, but you need to pre-register, which you can do online by clicking on the linked seminar title.

You may also register by calling 866-246-2884.

 

Martha Stewart: 4 Key Steps to Succeed as an Entrepreneur

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Last week at the National Association of Professional Women’s National Networking Conference, Martha Stewart was interviewed about her path to entrepreneurship.  She offered these 4 key steps for success as an entrepreneur:

Never stop learning.  Stewart says she plans to work until she’s “150”, and says “retirement” is not a word in her vocabulary.  Her career has had plenty of second acts, and she advises entrepreneurs of any age to keep learning, saying, “There’s always something else you can do.”

Find inspiration everywhere.  Stewart looks for inspiration everywhere she goes, from the flower arrangement on her set that inspired a new design for bedding to scouting craft shows for artists to feature in her magazine.  Look around you; ideas for new products or services are everywhere.

Work-life balance.  Stewart says that there is no line dividing her work and her life: “My life is my job, and my job is my life.”  While this has made her incredibly successful as a personal brand, it won’t necessarily work for everyone.  You need to define what work-life balance means to you.

Persevere.  Keeping a positive outlook has helped Stewart through some very trying times, including a five-month stint in prison for insider trading.  However, she says she has never hit bottom, just “bumps in the road.”  When times are tough, she seeks opportunities for inspiration in favorite activities like gardening.

To learn about entrepreneurship through franchising, attend our free monthly webinar, Franchise Ownership as a More Stable Career Path.  The webinar is free, but you need to pre-register, which you can do online by clicking on the linked seminar title.

You may also register by calling 866-246-2884.

 

Is the Next Big Idea Inside You?

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Today’s Wall Street Journal has a great article on how entrepreneurs come up with great ideas.  WSJ interviewed a number of startup mentors, investors and educators on what causes inspiration to strike and here is some of what they had to say:

  • Solve a problem – look at what is bugging you and chances are, it is probably bugging lots of other people too. 
  • Look outside your industry to see how other people are solving similar problems.
  • Be driven.
  • Take a break and listen to your subconscious.
  • Tackle practical problems.
  • Stretch your brain by going to unfamiliar places.
  • Improve on something already out there.

To inspire you this Monday, take a look at some entrepreneurs who succeeded in coming up with a big idea:

To learn about entrepreneurship through franchising, attend our free monthly webinar, Franchise Ownership as a More Stable Career Path.  The webinar is free, but you need to pre-register, which you can do online by clicking on the linked seminar title.

You may also register by calling 866-246-2884.

How to Run a Small Business From a Smartphone

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If you’ve thought about starting your own small business, then you’ve probably given at least some consideration to how you would manage all the tasks – especially if you’re the only employee.  

In fact, the SBA says that more than 79 percent of small business owners in the U.S. are sole proprietors.  The infographic below gives some great tips on how a smartphone and a few good apps – some are even free – can help a small business owner manage his or her business from a smartphone:

To learn more about starting your own small business, attend our free monthly webinar, Franchise Ownership as a More Stable Career Path.  The webinar is free, but you need to pre-register, which you can do online by clicking on the linked seminar title.

You may also register by calling 866-246-2884.