If you could create your own fantasy board of directors, who would be on it? CO— connects you with thought leaders from across the business spectrum and asks them to help solve your biggest business challenges. In this edition, we ask an expert about how you can identify a new business need in your community.
This edition of “Ask the Board” features Henry Wall, who owns multiple Re-Bath franchises, which focus on local bathroom remodeling services. Henry shares his tips on how you can move up from an entry-level position to company ownership.
At the end of the day, we all want to advance in our careers and succeed professionally. Fortunately, hard work and persistence can allow you to transition from working as an entry-level employee to owning your own company. Here’s some advice on how you can successfully navigate this exciting transition.
Take advantage of external resources
In entry-level roles, aspiring business owners can actively cultivate leadership qualities by tapping into various resources. Take the time to learn from industry-related podcasts, business articles, and other resources that allow you to learn from experienced professionals. By being proactive in seeking out information and learning opportunities, you can lay a solid foundation for your future ownership responsibilities.
Connect with industry peers and experts
Building a network of peers and experts within the industry is crucial for gaining valuable insights and perspectives on leadership and business ownership. Actively engaging in discussions, seeking mentorship, and learning from those who have successfully made similar career transitions can provide invaluable guidance and support. By fostering these connections and being open to learning from others, you can navigate the challenges of transitioning to ownership more effectively.
Always take a moment to ensure the opportunity aligns with your goals and values, but don’t overthink too much or you may miss out.
Henry Wall, Multi-owner of Re-Bath franchises
Familiarize yourself with the challenges of business ownership
Transitioning from an entry-level role to business ownership comes with a variety of hurdles. Although you shouldn’t overthink potential challenges too much, it’s important to anticipate that not everything will go according to plan. Embracing qualities like humility, resilience, and adaptability is crucial for navigating the complexities of entrepreneurship.
Look for the best business opportunities
Today’s business landscape is very fast-paced with opportunities there one day and gone the next. Being able to identify and seize these opportunities is crucial for success. This requires you to stay up-to-date on industry trends, keep an eye on competitors, and maintain a network of contacts who can alert you to potential opportunities. Always take a moment to ensure the opportunity aligns with your goals and values, but don’t overthink too much or you may miss out.
CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.
CO—is committed to helping you start, run and grow your small business. Learn more about the benefits of small business membership in the U.S. Chamber of Commerce, here.
