Our clients are successful business owners and entrepreneurs and over the years I can tell you that I have learned a lot from them – observing their work ethic‚ tolerance for risk and the innovative ways that they approach problems. On the franchisee front we had the privilege of representing Jennifer Schanker who just a few months ago signed a Learning Express Toys franchise agreement and this past week had her grand opening. True to form‚ throughout the franchise evaluation process‚ her SBA funding and eventually her grand opening‚ Jennifer displayed characteristics that I have seen in many of our other clients. The characteristic that I am talking about is one of confidence – not blind confidence‚ but confidence — and an understanding that success requires action and whether or not mistakes are made along the way – action is always better than inaction.
At the grand opening of Jennifer’s Learning Express franchise she was kind enough to invite our team members (who are big fans of Jennifer) and Jennifer’s story is quite impressive and certainly a must watch for those out there that are considering an entrepreneurial leap from corporate America to a franchise or even your own independent business. One statement that Jennifer made has stuck with me and sort of a universal truth or principal that successful entrepreneurs understand.
So what is this universal entrepreneurial principal or characteristic? Well‚ it is an understanding that nothing is certain‚ that when it comes to taking action (a critical element for success) you need to take fear and risk and put them in their proper place and perspective. Certainly risk needs to be controlled and calculated but consider the mindset that Jennifer shares with us when she describes the loss she suffered and overcame when losing her home to Superstorm Sandy and how she turned this into a positive and led her to this amazing entrepreneurial insight:
“…for most [potential] business owners the fear of going into business and losing everything holds them back from becoming a business owner…so when you go through something like Hurricane Sandy you lose everything so there is nothing else you can lose and once I got over the fear of losing something I started to research businesses geared toward children…”
An amazing insight. Consider that perceived fear holds back so much opportunity. By the way‚ if you listen to the entire video and what Jennifer has to say‚ setting aside here fear did not mean blindly signing a franchise agreement or blindly following the advice of her lawyer. Jennifer did a ton of research and she has some great advice about the franchise purchasing process and her insights as to the franchise relationship‚ including the benefits of working with a good franchise system.
If you are considering the purchase of a franchise or to take a step similar to Jennifer’s spend some time and listen to what she has to say in the above video. I can assure you that you won’t be disappointed.
Good Luck to Jennifer and Learning Express!
We are privileged to have represented Jennifer and wish her the best with her new business – our team is rooting for her! By the way if you are in the Holmdel‚ New Jersey area Jennifer’s Learning Express store is located at 2107 Route 35‚ Holmdel‚ NJ 07733.
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