What is your New Year’s Resolution for 2011?

Darian Richardson - Owner, RMC Franchise Connect - Cincinnati Franchise Consultant

What is your New Year’s Resolution for 2011? I know what it could be…

Can you believe it’s already the exciting holiday season? Turkey day has passed, and now we get to look forward to Hanukkah, Christmas, Kwanzaa, and whatever other holidays you and yours celebrate.  And after the holiday shopping is done, the holiday parties are over, and quality time with the family and love ones are complete…what next? For many people, planning for the new year begins. Many of us take this time to look back at the previous year and ask the question, “What did I really accomplish in the previous year?”  The next part of this self- analysis is to look into the future and develop a new set of goals we call New Year’s resolutions.  Some of the more “popular” and “traditional” New Year’s resolutions come in all forms:  a) Lose weight   b) Stop smoking c) Stop drinking d) Start a new relationship or e) Find a new job.

And what about starting a business? It might not be in your top 5, but it should be! Ask yourself the question, “What is my American Dream?” If your answer is, to building wealth, have more work/life balance, or be your own boss, then your New Year’s resolution is clear – starting a business is the answer.  And there is no time like the present.  According to a recent Economic Outlook Symposium in Chicago on December 3rd, the overwhelming forecast is that the nation’s economic growth is expected to increase at a solid pace in 2011. There is also positive news for business going into 2011 in terms of overall growth.  The November 15, 2010 specialist publication Fresh Business Thinking reports that 57% of companies are predicting revenue growth in 2011; 40% of businesses expect an increase in projects in the New Year, with over 30% anticipating growth in headcount.

During this downturn, more and more new businesses will be created.  Many people who have fell victim to being downsized, taken a buyout, or just unhappy at work have decided to start a business and 2011 should see much of the same.  There are risks associated with being an employee just as there are risks with starting a business. Those who have taken the opportunity to explore business ownership view it as a calculated risk. Tax benefits, earning potential, flexibility, great deals on real estate and lease agreements, and more access than ever before to (a) highly skilled talent pool (for less expense). Vanessa Reece, author of Top 10 Entrepreneur Business Trends for 2010/2011 says, “The downturn has also meant that many new business start-ups are looking for ways to build their business on a minimum budget. This could simply mean getting special deals from companies to buy products or services for their business.”

I am not suggesting that the economy will magically return to normal in 2011. The process will be slow but steady.  Though many economists are optimistic the recovery will take place in the New Year, it is still wise to temper your expectations.  But even if the economy moves a little slower than projected, that’s not an excuse to sit back and wait for things to improve.  The only sure way to change your situations is to initiate some form of action. If your resolution is to lose weight – get a gym membership and use it! , look for love – get back on the dating scene or try E-Harmony. And if you want take control of your future and be your own boss, then start a business.  Whatever your New Year’s resolution is, make this the year you actually do it!

Darian Richardson, owner of RMC Franchise Connect. RMC Franchise Connect helps you achieve the “American Dream” of business ownership. We provide free consultative services that connect you to hundreds of franchise opportunities. We will help you find the best business opportunity that meets your personal, professional, and financial goals….make the connection!

Visit www.rmcfranchiseconnect.com for more information.

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