Resources

The Unintentional Business Owner

When you look closely at the profiles of many successful business owners, you will see that they defy the stereotypical image of an entrepreneur. While plenty of hoodie-wearing, big-picture-thinking company founders have made their mark in the business world, many business owners come from more traditional backgrounds.

The “Unintentional Business Owner” is an experienced professional whose abilities, knowledge, experience, and contacts form a solid foundation of qualities that are needed to start, grow, and manage a thriving company.

Over the last few years, the rapidly changing economy and unstable workforce have prompted many seasoned employees to rethink their career choices and embark on the path of entrepreneurship. If you have considered this option for yourself but hesitated because you’re not the “entrepreneurial type,” then you may be pleasantly surprised by what you read next.

👍 Qualities for Success

With more than sixty franchise offices nationwide, we understand a thing or two about working with successful business owners. We have found that franchisees who run the most successful and profitable businesses are not those from entrepreneurial backgrounds but instead from management roles; we have developed a list of qualities that help us identify candidates best positioned to handle the responsibilities and challenges of running a successful business. They are:

✅ Process-Oriented: Proven ability to understand and implement well-established processes and practices. Those who follow a roadmap and adhere to core training principles can execute proven strategies enabling their businesses to flourish – in thriving and challenging economic climates.

✅ Metrics-Driven: A talent for understanding the importance of key performance indicators to help make sound business decisions. In business, data tells a compelling story. Those who use metrics to guide their actions can quickly take the guesswork out of decision-making and can often quickly achieve strategic objectives.

✅ Have Humility: Approaching business ownership with an open mind and a willingness to learn is a key indicator of success. Those who know it all already are less likely to accept guidance from those in a position to teach and support new business owners.

✅ People-Centered: Leaders with high emotional intelligence are likelier to thrive as business owners. They understand that the keys to success for any company are its workforce’s strength and its customer base’s loyalty.

Ideal candidates for business ownership are not necessarily those with big ideas; they are professionals who have managed a P&L, worked with recruiters, hired employees, handled budgets, and oversaw the day-to-day operations of specific functions or departments.

🎯 Target Industries

We’re about to celebrate our 50th Anniversary as an executive recruiting franchise, and when reviewing the backgrounds of our successful franchisees, we have learned that they come from specific industries and disciplines. They are:

  • Manufacturing
  • Supply chain
  • Logistics
  • Quality
  • Business Development
  • Military

People from these industries and sectors often thrive as business owners because they have the experience, discipline, drive, temperament, and leadership qualities to solve challenges, capitalize on opportunities, cultivate talent, and manage a successful operation. The situations they faced in their careers often mirror those they will encounter as entrepreneurs.

🧭 Embarking on a New Path

Business owners are not a different breed of people who possess a magic gene that enables them to start and manage a successful business. They are experienced managers and professionals with a drive to succeed, a strong work ethic, a desire for continuous learning, and a genuine appreciation for people.

If you’re a corporate executive (or a military veteran) in a key leadership role ( operations, logistics, supply chain, engineering, manufacturing, or business development) and want to explore business ownership, we’d love to hear from you and help you navigate your next steps. Call Steve Margalit at 212.302.1141 (ext. 804) or email smargalit@fpcfranchise.com.

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