The VAR Guy

Lots of IT-focused franchise opportunities are popping up. But experiences will certainly vary from franchise to franchise, and industry to industry. I’ve been in a national franchise for over six years. The franchise isn’t IT oriented, but my lessons learned may help VARs and solutions providers weigh their own franchise options.

Reading an article in the New York Times the other day, I was struck by a problem I see all the time in business (and in life in general): our difficulty communicating clearly with others. The article was about an American baseball manager who’s training the Chinese Olympic baseball team. The story certainly applies to solutions providers.  Here’s why.

Here’s a situation that may sound familiar to many small-business entrepreneurs. A very bright woman, let’s call her Betsy, has a business providing training to middle managers, and her client has been the HR department. Now, with the economy in recession, her pipeline is not as full as it once was. Training budgets–at least for middle-level employees—are being slashed. Betsy feels nervous about the future of her business. If this trend continues, she will have difficulty making ends meet. Here’s how she plans to change course.

The single most important success factor for entrepreneurs is choosing the right business. Many entrepreneurs make their choice based on what they have done successfully in the past or what they are naturally good at. Those are important considerations but there’s one thing that’s much more critical.

I had a dream last night. It was one of “those” dreams. I was walking down a crowded Manhattan street in my BVDs. At first thinking it was normal and then, with increasing dread, realizing it was anything but (unless you are this guy). And then I had a second dream last night. My brother was there. We were in college. It was around finals time. I asked him if he knew when our history class was meeting, because I can’t remember ever going this term. I don’t even know where the classroom is, and I haven’t done any homework—and the final is tomorrow!

One of my coaching clients is a wholesaler for a mutual fund company. Even though she works for a big company, she is really an entrepreneur, running the show in her territory. Needless to say, in today’s market climate, her business has never been more challenging. Some of the lessons from her business certainly apply to the high-tech entrepreneurs.

If you are thinking of leaving your corporate job to start a business, nothing is more important than having Reserves. I am talking about a great big virtual warehouse filled with tangible and intangible items. If you don’t have them when you start your business, your engine will soon fail.

Are you ready — and qualified — to launch your own business? Before you quit your day job, check in with Mitch York, an executive coach who helps corporate employees become successful business owners. York offers some practical tips and some reality checks to would-be entrepreneurs in a MSPmentor Live: Podcast for May 1, posted on our sister site.