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Working in Your Skivvies Might Be For You

So what skills should a successful home-based franchisee or independent contractor/freelancer possess? Assuming we’re all into working in our skivvies after all…

This month’s Entrepreneur has an interesting article about starting a home-based franchise business.
While most of the franchises in their top 101 list seem to be cleaning
businesses and overall, the list did little entice me into
jump-starting my own franchise-specific savings account, it does beg
the question if working in your skivvies is ultimately what we’re all
after.

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So what skills should a successful home-based franchisee or independent contractor/freelancer possess? Assuming we’re all into working in our skivvies afte rall…

Let’s start with basics:

  • Know Your Legalese: As an independent contractor/freelancer,
    you set up shop under your own name, so to speak. You’re working under
    your own business guidelines, free of any legal ties to a franchisor.
    For either scenario, legal counsel will be helpful in assessing your
    business’ liquidity and giving you sound peace/piece of mind.
  • Keep Figures Straight (or Know What Software to Utilize):
    For savvy bookkeeping business owners with a penchant for Accounting,
    keep track of the #s might not seem daunting, but to the less skilled,
    it can be. Keep this in mind as you get your freelance business or
    franchise off the ground. You’ll want to seriously consider investing
    in efficient bookkeeping software.
  • Consummate the Relationship Early On: As stressful and time-consuming as a day gig can feel (Did i mention soulless and thankless too?),
    remember that whether it’s your side business or you’re committing to a
    franchise or solo contracting biz full-on, it will take the guts and
    guts inside the guts out of you. What distinguishes this from all other
    relationships you’ve had in the past is your commitment to its success
    so be in it for the long haul .
  • Don’t Start Every Bullet Point with a “K”: It’s ok to spice
    it up once in a while as I just reminded myself in the last bullet. The
    most interesting gigs I ever embarked on that eventually led to more
    serious professional relationships were started on a “trial”
    basis. It allows you to test the climate and the waters to know if
    you’re ready to jump in head first, especially relevant when going the
    freelancing route.

For more useful “starting your own franchise” information, go to AllBusiness.com.