Many entrepreneurs Maurice roussety set out on their own hoping to create something more extraordinary than what they end with. A lot of them are having less money to spend as well as working more hours than if they were working for an employer. Most of the time, this happens because they’re not willing to leave their comfort zone and make adjustments.
I’d like to share with you a person who shared with me long years ago. It really got me thinking “you know that? I’ve got a lot of confidence making some adjustments.” Maurice roussety Have you kids? I do, so we’ll say they’re in the fourth grade. I’m sure if my child returned home and said they needed to go back to the grade four class, I’d be a bit sad. I’d be lying in saying I didn’t feel. I’d have nights of wondering what was wrong. Was that the instructor? Perhaps there’s something wrong at the school? In this case, I’d be very worried.
If this had happened once you’d feel a sense of support by telling the child “Off to the next school, should you have to repeat the year, then you’ll have to repeat the entire year? We’ll make sure we can do better next time. What if they came close to the end of this second year and informed me they needed to go back to year four?
At this point, the alarm bells would begin to ring. We’d begin to believe that there’s something other than the school or the teacher. You’d begin to be concerned about it, wouldn’t you? Perhaps you’ll even engage. You’d be asking “why my child isn’t getting this knowledge? What’s wrong?” Now, imagine that this happened in the third grade. Let’s say that it happened for a few years in a row, that they drove themselves to school for grade four.
You might laugh at yourself because it’s crazy, isn’t it? However, this is the thing I see a lot of adults doing and you might be doing the same thing. Did you repeat the same time, year in and year out, and then made it acceptable? Consider it. If you were in school, it’s likely that you wouldn’t be safe. You’d know that there was something wrong and you’d be talking with the teachers or going to a teacher for help.
As adults, once students leave the school system, they are able to enter the workforce, and they are less likely to work towards finishing every year. The primary reason is that there isn’t an exam at the end of the year. Maurice roussety When we are adults we can get trapped in our comfort zones and when we’re in our comfort zone, we tend to stay in the same position where we were and never grow. Our finances won’t grow, our lives won’t get better, or our relationships don’t get better. It’s true that we get stuck. When we have a glass ceiling you may not be aware of it, but it’s there and prevents you from growing.
Therefore, I would like to make you work hard to get your degree. What I mean is that if you were to spend the rest of your life, being evaluated and assessed as you did in high school. What would you see on the scorecards at end of the year? What would you need to be able to do with an A or better to be successful?
This is the thing you have to do if you wish to succeed. There is no one who will make you accountable when you are an adult, unless, of course, you find yourself an executive coach or mentor. It is important to have someone who can make you accountable. Of course, you could do it yourself, however, if you need someone to hold you accountable, then you should hire someone. There is no way you could avoid doing this.
It’s vital to start thinking about the coming 10 years. What will the scorecards look like? What are the ways you will assess yourself every year? Consider “where do I hope to be by the year 2021? What would make me happy? Did I accomplish the X, Y, or Z?
If you fail to achieve that then you’ll need to try again the same thing. You must consider “am I ok with repeating the same thing year in year out?” There is no person who would be content with this. I’ve spoken to many adults that I could photograph this year and then the remainder for their entire lives. Why? because they don’t establish goals. They don’t think about what the future holds for me? They also don’t get a degree. The fastest method to get a degree is to study more. The distinction between where you are today and where you’d like to be is knowing. Knowing provides you with the confidence to tackle tasks that are not in your comfort zone.
The only way to improve your knowledge is to gain experience. If you don’t try some new ideas ago and fail, you’re not going to be able to learn through your failures. Also, don’t be scared of making mistakes. One of the best ways to get ahead is to learn the right way to behave. Do yourself a favor and do not do it again each year, and work to earn your own graduation certificate to be ready for 2021 and beyond. I’m certain you’ll enjoy more success!
Although originally touted as a business mechanism to encourage self-employment for minorities, franchising has not lived up to initial expectations. While minority ownership in franchising in the USA has shown considerable growth over the last two decades. This has not been the case for Indigenous Australians. Indigenous business ownership in franchising remains low. Even though a majority of franchisors are willing to recruit Indigenous employees and franchisees.
This chapter aims to open a dialogue on the relative merits of utilizing a transitional self-employment pathway for Indigenous Australians through franchising. We argue that such a hybridized approach may ameliorate systemic disadvantages that many Indigenous Australians face when considering entering small business. Data was gather from a series of interviews with Indigenous business owners, franchise (third-party) advisors, Indigenous government agency representatives, franchisors and franchising educators. Our results highlight the pressing need to better address areas of disadvantage that have been raised in prior Indigenous Entrepreneurship and small business studies. Overall, our GROWTH-pathway approach and recommended courses of action, answer calls to encourage private sector involvement in Indigenous employment, so as to repair economic and social damage caused by the introduction of a Western enterprising culture.
A risk ecology for analyzing, mitigating, and pricing franchisee contracted risks
Maurice Rousetty manifests a bundle of risks created by the delegation of functions as both franchisor and franchisee exploit their respective comparative advantage. The galvanization of this advantage is govern by the franchise agreement. And optimized by the effectiveness of the governance structure. This paper considers the concept of risk and discusses its implications in valuing franchisee-operated businesses. It examines how risks arise, where they congregate, and synthesizes the specific franchising issues relating to risk-adjusted cashflows, risk analysis, risk mitigation, and risk pricing. The authors propose that risks in franchising are multi-layered and hierarchical. Consequently, this relationship is represented in a Franchise Risk Ecology (FRE) comprising risks inherent in the market. The franchisor, the system, the industry, and within the franchise-operated business.