The Entrepreneur’s Source Reviews: Should You Capitalize on Your Career Capital?
Leaving behind a solid paycheck – even with the prospect of becoming self-sufficient down the line – can be a financially frightening idea. Investing in a franchise means going all in. How is it possible to make the transition from Employment to Empowerment while still maintaining the financial obligations that come with running your household? Today, The Entrepreneur’s Source explores this question.
Financing Your Future Business
Financing a business is a major concern for individuals who are looking to become self-sufficient by investing in a franchise, but this oftentimes is because many individuals don’t know that they have funding options. Funding should be something that aspiring franchisees embrace, not fear.
Common financing options for franchisees include angel financing, securing funding through friends, family or investors or by securing a small business loan. These are viable options for aspiring business owners to consider or at the very least become educated about.
However, there is viable and oftentimes overlooked funding option: Using your career capital. Today, The Entrepreneur’s Source examines how utilizing your career capital can be a worthwhile funding option for you.
Utilizing Your Career Capital
The key to funding business venture to achieve your Income, lifestyle Wealth and Equity (I.L.W.E.™) Goals is to leverage your 401k, investments, savings and real estate – or your “career capital.” Because many of us have been forced to shift our frame of reference toward a scarcity mindset, we often fear using this available career capital. Instead of seeing this money in terms of its potential return on investment, many aspiring franchisees solely focus on the risk of utilizing these resources and going all in with the potential of leaving them depleted, which is the wrong mindset to maintain.
When you utilize your career capital to finance a franchise, you’re not actually “spending it” per say, but rather moving it from one line of net worth to another – transferring it from a reactive investment to a proactive one. As we all know, reactive investments, such as investing in the stock market and real-estate, have been quite a roller coaster ride over the past decade, so is moving away from reactivity such a bad thing? Rather than investing in an outside factor, when you move toward proactive investments, you’re investing in yourself – something you have much more control over.
Contact a Coach at The Entrepreneur’s Source
Making the ultimate decision of how you’re going to fund your franchise should take extensive thought, consideration and education, and that’s why an alternative career coach at The Entrepreneur’s Source can help. E-Source’s unique Journey of Discovery was designed to help guide people through exploring their options including funding, until they reach a point of clarity of what vehicles will work best for them.