We all know that uncomfortable feeling of pressure that comes with a looming deadline. The date that once seemed so far into the future is suddenly upon you. As you rush to complete the task, you can’t help noticing the minutes seem to tick by faster as the deadline draws near. Why is that?
As time goes by, it becomes your most valuable resource
If you’ve crested the hill and find yourself on the other side of 50, you’re likely paying more attention to time. What do you want to do with the rest of your life? Is your current career choice making you happy or are you simply punching the clock until retirement? What would you do if your motivation was making the most of the time you have left?
Climbing the corporate ladder with 3M Corporation in my 30s, I paid less attention to time and more attention to money. I traveled constantly. I missed out on time with my children and I skipped family vacations. When I decided to take control of my destiny by becoming a business owner, I came to realize that time is a key part of my wealth – an increasingly important part as the years pass by.
“Your time is limited, so don’t waste it living someone else’s life.” ~ Steve Jobs
Money Can’t Buy Love (or Time)
In the last three decades, I’ve worked with hundreds of individuals and families who have decided they wanted to be more in control of their time, especially when faced with another income gap caused by an unwelcome job transition. As you age, it can take longer to land another position and often the options that best utilize your skills don’t come close to matching your desired income. This corporate churn is commonplace in today’s world, so how do you avoid it? One way is to seek career independence and take control.
I’m working right now with a mature former corporate executive who always wanted to own his own business, but believed for years that time was on his side. I recalled the 1964 hit song from the Rolling Stones. It seems time is no longer his friend and he sees the window of opportunity closing. He’s chosen not to dwell, but to make the most of the opportunities he has remaining.
Time to Leave Your Mark
Driven by a desire to help others, my client has decided to leverage his talents and leave his mark on the world. It’s now all about the value of his time, so he’s exploring a B2B franchise opportunity, one that utilizes his decades of experience to help other businesses grow. He has the skills, talent and experience, but what he doesn’t have is time. That’s why he chose a franchise.
Once he positioned his time as a dwindling resource, he realized that buying a franchising is a relatively low investment when you consider the time it would take to build a business from scratch. Proof of concept is already there. Demand for the product or service has been established. Customer acquisition strategies have been finely tuned. Marketing expenses are shared. Business ownership through franchising offers the owner a chance for a shorter runway to profitability while mitigating risk.
Your time is your most valuable asset. Whether you’re just starting out in life, approaching your prime earning years or preparing for retirement, create a vision as to how you would like to spend your time. Maybe it’s writing a book, volunteering or perhaps it’s gaining more freedom and flexibility by owning your own business. Investing in a proven franchise system can be a fulfilling adventure that enables you to shorten your path to entrepreneurial success vs. starting a business from scratch. The clock is always ticking.
Isn’t it time to place a higher value on the time you have?
For more than 30 years, Phil Kuban has enjoyed helping people realize their dream of business ownership. His personal experience of being a franchisee of retail and professional services franchises, a franchisor and area developer has been instrumental in the guidance he’s able to provide to his clients. Master franchise development is an area Phil is particularly passionate about and he’s been successful in recognizing up-and-coming brands. Phil always suggests his clients begin with the end in mind. He believes the right franchise opportunity with the right exit strategy is the key to building equity wealth.
Phil can be reached at pkuban@frannet.com and at 770-973-0221.