Stories of successful entrepreneurs are enticing, the advertisements of easy money often presented on social media are tempting: a five-figure income, working on the beach, being your own boss. But caution is advised, as not everyone is made for self-employment.


The foundation for success in self-employment is personal suitability. To avoid a life-threatening misstep, we present to you in this article the most important personality traits of entrepreneurs.

Take a bit of time while reading and answer the questions of our self-test to find out if you are made for self-employment.

The 5 pillars of an entrepreneurial personality

The foundation for your success in self-employment: The desire for it

Broad shoulders that can bear responsibility

Good self-assessment and healthy self-confidence

More and more people are seeking the path to self-employment

Many people become self-employed to answer their own question of meaning: They feel trapped in a job that does not fulfill them and where they can no longer make a true contribution.

If an inner fire for more self-determination and freedom in the job burns within you, this can be a strong drive for success in self-employment.

How true are the following statements for you?

I want to create more than I currently can.

I long for a fulfilling, meaningful activity.

I feel like I am suffocating when my freedom to make decisions is restricted.

I have skills that I cannot use profitably in my current position.

I regularly think: I don't want to continue this way.

1. The foundation for your success in self-employment: The desire for it

Transitioning from employment to self-employment means that you bear the responsibility for all decisions. You can no longer dodge the issue because colleagues missed a deadline or suppliers failed to honor the contract. Every decision (or lack thereof) has a direct impact on your professional success.

How do you currently handle responsibility in your life? Do you often blame others or see problems as challenges to proactively find solutions?

Taking responsibility means not blaming others or circumstances for difficulties, but becoming proactive to find the best path forward.

This character trait is extremely important in self-employment. You will face many challenges along your journey, but with the right mindset, you can overcome them.

How much do the following statements apply to you?

I delegate tasks but not responsibilities

I focus on my strengths and not the weaknesses of others

I see problems as challenges to find solutions

2. Broad shoulders that can bear responsibility

As a rule, there are no paid breaks, such as vacations or sick leave (unless through voluntary or private insurance contributions), especially not in the early stages of self-employment.

You will find that new challenges arise every day that need to be addressed. Therefore, physical and mental resilience is something self-employed individuals should actively invest in. Good health in all areas also promotes effectiveness during working hours.

Being successfully self-employed also means taking care of your body and mind. How much does a healthy lifestyle feature in your daily routine?

The willingness to take good care of oneself is an important prerequisite for success in self-employment.

I consciously invest in my mental and physical health.

I have ways to recover after demanding days or phases.

I can rely on my ability to make good decisions even in stressful situations.

3. Your personal resilience is crucial

One thing is certain when taking the step into self-employment. You will discover what you do not yet know along the way. Therefore, a joy of learning is a personality trait inherent to successful entrepreneurs.

Does the thought of constantly dealing with new things make you break out in a sweat? Or are you excited to learn new things about people, processes, taxes, or legal matters?

Of course, some new topics will be easier or more difficult, more interesting or more boring. But if you generally welcome change and look forward to growth, self-employment might be for you.

How strongly do the following statements apply to you?

4. Willingness to learn allows you to grow

Whether someone takes the step into self-employment or not usually depends mostly on their own self-confidence. Self-employed people generally take responsibility for many, if not all, aspects themselves - revenue, expenses, employees, and of course, the success of the business. There is no room here for self-doubt or for overestimating one's abilities.

How much do you identify with the following statements?

I believe I can find solutions to almost all problems.

Other people perceive me as a person with great self-confidence.

5. Good Self-Assessment and Healthy Self-Confidence

If you have answered the questions in this article mostly and without hesitation with 'Yes', then according to our experience, you have good personal prerequisites for successful self-employment.

Do You Have What It Takes to Become Self-Employed?

What personality traits distinguish successful entrepreneurs? Our self-test provides you with clues in 5 categories and helps you find out if you have what it takes to be a successful entrepreneur.

Do you have what it takes to be your own boss?

In this article series, we want to guide and support you in answering this essential question.

First of all: Franchise systems can only be assessed in comparison. Only through comparison does it become clear whether the services offered by the systems and the obligations one undertakes as a franchisee are in a good balance for oneself. 

Franchising is characterized by the division of labor within the network. Many administrative tasks are usually handled by the franchise headquarters. This relieves the franchise partners and allows them to focus more on the core business. Nevertheless, these services vary greatly and are system-dependent. 

You need to assess yourself where your strengths and weaknesses, as well as your interests, lie and which specific offer is the most attractive for you based on that.

What is a good franchise system?

The service package of a franchise system can basically be divided into two categories. 

support in the implementation. 

In this article, we focus on the services in the organization.


This is the most obvious point you will consider right from the start. Can you even identify with the products or services offered? Do you see the need, the market niche? 

But important questions also concern the future vision of the brand offering.  

How are the core services being further developed so that the system can evolve with the market and new customer needs? 

Finance: economic planning, controlling, benchmarking

Franchise systems provide new founders with tools and experiences to create a business plan at the beginning of the partnership; this is the norm. 

But don't hesitate to delve deeper into the financial organization. What methods are there for ongoing success control by the franchisor? Are controlling and benchmarking lived in the system processes, and how do the partners benefit from them? 

Effective controlling provides a clear picture of the economic reality. It shows where the individual partners and the system as a whole stand and where they are heading.

Not every franchise concept has a public location or business premises. For the systems where this point is relevant, we recommend exploring the following questions during your assessment:

Does the system's headquarters have the means and methods to conduct a detailed location analysis? What is the density of the target group at this location, and how much competition already exists?

Does the headquarters support or even take over the site negotiations? 

What are the concepts and plans for the setup and interior design?

Since you are relying on an already established brand in franchising, you can naturally assume that you will be provided with the necessary marketing assets from headquarters. Beyond that, there are also significant differences between systems in this area. 

In many concepts, marketing is centrally controlled for each location. This means you don't have to worry about setting up or maintaining the website, customer relationship management system (CRM), or handling social media channels.

However, it is advisable to clarify in advance how much is actually taken over by the franchise headquarters. You might have extensive experience in this area yourself. In that case, you should determine how much freedom you have to launch your own campaigns.

As with marketing, there are also various organizational models in franchising when it comes to sales. The range extends from systems where acquisition is carried out centrally to business models where sales are the main task of the franchise partners. 

Here, it is recommended to rely heavily on your own experience and preferences. How comfortable do you feel with the idea of cold-calling for your product or service? How familiar are you with sales processes? How much could you thrive in the challenge of building a customer base from scratch?

Successful franchise systems rely not 'only' on well-tested products in the market but also on well-thought-out internal management processes. If you already have experience in this area, you can compare your own best practices with those of a system and determine if you are on the same wavelength with the organization's values. 

If you still have less experience in this area, it is even more important that the system of your choice actively supports you here.

Finally, we would like to explicitly emphasize the examination of internal communication. The franchise system thrives on the partnership of independent entrepreneurs and thus wants to know how best to utilize this. What information flows exist from the partners to headquarters and back? The better the system is set up here, the faster partners can learn from each other's mistakes, discover new opportunities, and drive the growth of all parties.

The service package of the franchise system

Each system has individual onboarding processes in which many of your questions will be answered at different stages. 

We hope we were able to broaden your perspective and thus clarify your own process in system comparison.

Onboarding

In the second part of this article series, we look at the franchise service packages in terms of support for business operations.

You have reached the point where you are looking more closely at the possibilities of starting a franchise. "Which factors are important to me in making a decision? What do I really need to pay attention to? How can I know if a system is right for me?"

What makes a good franchise system?

You've reached a point where you're seriously considering the possibilities of starting a franchise. By now, having seen information about some systems, you're likely asking yourself: 'What should I actually pay attention to in the vast amount of information provided? How can I know if a system is suitable for me?'

What makes a 'good' franchise system? - Part 1

At the crossroads of a professional career that could lead to self-employment, potential entrepreneurs face challenging questions and considerations. In this situation, it can be immensely beneficial not to proceed entirely alone.

Over many years, we have developed an offering to make it easier for aspiring executives to transition into self-employment.

5 Reasons Why Franchise Consulting with Us Gets You to Your Goal Faster

We know that a solid foundation for starting a business with a franchise system lies in being aware of your potentials and skills as well as knowing your motives.  

From our many years of experience in supporting new franchise businesses, we know that we can only find the best solutions for our clients when we understand their backgrounds, interests, and future visions. 

Therefore, when you work with us, everything begins with the development of an entrepreneur profile. This profile allows us to translate your ideas into an ideal franchise option.

1. What Does Individual, Personal Franchise Consulting Mean?

One of the greatest advantages of working with a consultant is that they can open up possibilities and perspectives for you that you would have had difficulty finding on your own. 

Career changes are not uncommon among our clients; in fact, they are the norm.

Our many years of experience, coupled with our selection of qualified systems, mean that our system recommendations for you are not solely based on your industry knowledge.  

Your potentials, skills, as well as your motives and interests, form the basis on which we prepare the best solutions for you. The entrepreneur profile we create at the beginning of our collaboration allows us to translate your ideas into the perfect franchise opportunity for you.”

2. Opens New Perspectives

Our consultants accompany you as "career mentors" on your path to self-employment. They stand by your side as sparring partners with knowledge and experience, providing objective support for any questions or doubts.

Have you decided to dive deep with one or more systems, we support you in the detailed examination of success-relevant data, company structures and guidelines for the future.

We can also assist in obtaining financing and contact independent auditors and lawyers who can guide you on legal and tax issues.

3. Prevents Costly Mistakes

The relationship with our consultants not only prevents you from making costly mistakes but also opens up a shortcut to self-employment through our well-established relationships with franchise systems as well as with lending institutions.

For each candidate recommendation that we pass on to a system, we compile a written report based on a combination of the entrepreneurial profile and the decision-making phase. This written recommendation from our consultants gives you a better starting point with the system of your choice than a "blind application".

Banks and lending institutions generally prefer financing requests where there is already real-world experience. Our personal contacts often enable us to pave the way for our clients to obtain terms that would otherwise be difficult to secure.

4. Shortcut to Self-Employment

Our advisory service is non-binding and risk-free for you. Without compulsion or pressure, you can, step by step with our help, examine the advantages and disadvantages of the respective system recommendations. You have plenty of room for questions of any kind and can expect objective, honest answers that will help you in your decision-making process.

Upon a successful conclusion, we receive a success commission from our partner systems. Therefore, it is all the more important for us that the right candidate chooses the right option. All parties benefit from this, and so does our service.

5. You Have Nothing to Lose

Our premise is based on the experience of our founder, Dr. Johannes Jungblut, who, after a long and successful career in management, decided to build something for himself.

Since then, we have accompanied more than 300 successful startups and know what really matters.

A Note in Conclusion:

We guide you – from the consideration phase to the contract conclusion – on the most effective path to self-employment

Our unique approach puts you at the center

Starting your own business is a big step. At the crossroads of your career, potential founders face difficult questions and considerations. It can be enormously advantageous to not take the path alone.

Franchise consulting is the most effective way to success

Achieve Success Without Detours with Franchise Consulting

The decision to become self-employed must be carefully considered. It’s not just about "what will I do," but also about "how will I do it."

Is self-employment even an option? Is it the right time? Do you have a certain standard of living that you want to maintain or financial obligations that need to be considered?

Most of my clients find themselves in this situation. Together, we work out the right steps and carefully weigh the different options for potential self-employment through mutual discussion.

I have been involved in business acquisitions and franchising for many years. I became self-employed with IoE in 2013 because I recognized that this market is very confusing and lacked a proper point of contact to provide comprehensive information about potential options. We have continuously expanded our offerings, and I feel validated in my work every day.

It brings me great joy to guide people into self-employment, as I was once in the same situation myself. This experience allows me to fully understand my clients' perspectives. With IoE’s services, I have the opportunity to realize my passion and enthusiasm.

Why IoE?

There are two main reasons people consider self-employment.

One reason is: "I want to become self-employed and am not looking for alternatives in traditional employment."

The other reason is: "I need to become self-employed because I see few or no opportunities to receive attractive offers in the job market."

Often, people lack the breakthrough idea for the direction their self-employment should take, or they are unaware of the available alternatives. This is exactly where IoE comes in. In the past, we have guided many individuals into self-employment using business models they had never considered before.

Who Should Contact Me?

Although I spent many years working in retail, I consciously decided to pursue a different career path. In the past, I gained experience as a franchisor and delved deeply into this topic. I also had the opportunity to acquire extensive experience in buying and selling businesses.

As a result, I am very familiar with the processes behind these ventures.

My step into self-employment, of course, came with significant doubts, especially concerning financial security. I had my monthly obligations, and I certainly didn’t want to compromise my standard of living. After discussions with family and friends, I ultimately decided to go for self-employment.

This is why I can strongly identify with people who are interested in becoming self-employed and can fully understand their thoughts and concerns, as I have experienced it firsthand.

Professional Experience

Benefit from the experience of Johannes Jungblut

Johannes Jungblut

I support you in analyzing your own skills, goals and circumstances. Together we will find the right approach for you to take the step into self-employment successfully based on your talents and previous experience.

In doing so, I offer you various options through a professional network and verified partners: Franchising, suitable offers for business acquisition or the targeted search for your desired company.

You decide which path you want to take. My support only ends when you have successfully made your decision.

Working independently has always been very important to me. Whether founding my own companies or working as an interim manager - I have always enjoyed going my own way and enjoying a much greater degree of autonomy compared to a permanent position.

When I came into contact with IoE, I was attracted by the idea of combining my desire for independent work with passing on the knowledge and experience I had gathered in my professional life. All of this with the aim of helping other people who are considering what might be the best next step in their career, expanding their horizons with options they hadn't considered before, and supporting them in evaluating and choosing.

Michael Bartels in conversation

I am happy to talk to people who are considering what might be the best next step in their professional lives. These are often people from management who have reached this point after a successful corporate career.

But there are also often people who are already self-employed or have been self-employed and are interested in options that are new to them. This often involves comparing and evaluating options in franchising, business acquisition, or starting a business.

Who should get in touch with me?

Degree in Mechanical Engineering/Automotive Engineering and postgraduate studies in Business Administration at the Esslingen University of Applied Sciences

Founder of a large number of corporations in Germany and abroad

Chairman of the Supervisory Board of two public limited companies, one of which is listed on the stock exchange

Non-Executive Director of a start-up in Scotland and member of the supervisory board of MBG Hessen

Expert in the BMBF flagship project "Human-Technology Interaction" and member of the "Industry and Research" committee of the DIHK

Occasional lecturer at the University of Applied Sciences Munich and the Technische Hochschule Mittelhessen, currently at the Berlin University of Applied Sciences for Technology and Economics (HTW) with the module "Business Start-Ups and Management" for Bachelor's and Master's students in Department 04.

Professional experience

Benefit from the experience of Michael Bartels

Michael Bartels, Entrepreneurship Consultant at IOE

Michael Bartels

There comes a phase in life when many of us feel the urge for a career change and reorientation. In such moments, the idea of self-employment often arises.

Before you hastily dive into the adventure of self-employment or opt to stay in the familiar world of employment, I encourage you to carefully analyze your own interests and abilities and explore options you may not have considered.

This is exactly where I offer my support.

Since its founding, IoE has successfully paved the way for numerous former managers and executives into self-employment. Be inspired by the business ideas and franchise concepts we present to you after a careful analysis of your skills and desires. You don't always have to reinvent the wheel – with our support, you can understand and successfully implement a proven concept from another region or country.

Seemingly saturated or still unknown business models often hold untapped potential and hidden market niches. Our portfolio of concepts is dynamic, as we are constantly monitoring the global market.

Anyone who wants to make a career change and pursue their own ideas and goals. For me, the best part is when I can open up new perspectives and guide our clients on new paths.

I was fortunate to know early on that I wanted to become self-employed. After completing my specialized high school, I took over the family business. Initially, it was a great challenge to balance my studies, continuous education, and the company.

However, I have continuously grown through the tasks of my self-employment and have founded and successfully managed several companies in various industries over the years. I entered franchising in 2016. For over 4 years, I had the privilege of supporting a European concept from the food industry in its entry into the German market. Today, I am motivated to share my knowledge and experience with aspiring entrepreneurs.

With my support, you too may soon be part of the club of entrepreneurs!

Benefit from the experience of Tomislav Tabak

Tomislav Tabak, Entrepreneurship Consultant at IoE

Tomislav Tabak

Many people are at a career crossroads – where is the journey heading and what is the next career step? Self-employment can be an exciting option. But what are the possibilities?

Together, we will analyze your strengths and competencies and determine where you want to go in the future. Your experiences and interests form your individual framework.

Whether it's franchising, succession, or participation, I will support you with knowledge and expertise and accompany you as your sparring partner on an equal footing.

On one hand, I am fascinated by the diversity of business models that I deal with daily and, on the other hand, the collaboration with our prospects who are at the aforementioned career crossroads.

For 15 years, I have been supporting entrepreneurs in the search, selection, and review of suitable franchise models as the business world becomes increasingly complex.

In doing so, I have personally experienced for many years as a self-employed person how important it is to be able to rely on a competent network.

People who have a serious interest in taking control of their future lives. However, due to corresponding obligations, they do not want to start from scratch but instead want to rely on an already established business model.

It is precisely for this target group that we at IoE offer a broad range that provides the necessary predictability for the next career step.

Who Should Get in Touch with Me?

Studied Economic and Social Sciences at the University of Bamberg, Degree: Diplom-Soziologe

Employee at a franchisor for temporary employment and personnel placement, responsible for market observation, business development, partner support, franchise support

Branch manager and founding consultant at IHK – supported industrial and commercial committees, advised start-ups, led the Bamberg branch

Since 2008, self-employed business consultant for franchising

Benefit from the Experience of Jürgen Land

Jürgen Land

The path to self-employment requires careful consideration and, above all, thorough planning, and for many entrepreneurs, it comes with uncertainty. As your sparring partner and career mentor, I can present you with extensive opportunities for self-employment and, through individualized consulting processes, identify the most suitable and successful option for you.

I support you in analyzing your competencies, talents, and professional background. Based on your personal priorities and goals, I will advise and guide you toward the most promising form of self-employment.

For over 25 years, I have repeatedly focused on the topics of "franchising," "business acquisition/succession," and "consulting," and I have already been active as a shareholder and managing director in this environment. With IoE, the circle is now complete for me. Our offering as a point of contact for the topic of "self-employment" is truly unique.

Having been in the same situation multiple times during my previous positions in senior management, I can now relate very well to our prospects and candidates, offer them recommendations, and provide them with appropriate guidance.

Essentially, all experienced professionals and executives/managers who are no longer fully satisfied with their current professional situation or position, or who are at a crossroads in their career (professionally or personally) and want to pursue something new.

The reasons for this can vary greatly within the job environment, such as changes in management/board/shareholders, shifts in company strategy or direction, lack of involvement in decision-making, etc. Or, on the other hand, they may be more personal, such as the desire for entrepreneurial freedom, autonomy, greater flexibility, making one's own decisions, better work-life balance, independence from boards of directors/advisors/shareholders, building something of their own and creating long-term value, etc.

I would be happy to discuss in an initial conversation how, with my support, you can find the self-employment path that suits you best.

After completing my business studies, I spent 23 years in senior management roles at international corporations with country responsibilities as Director/Managing Director in the consumer goods sector. My core expertise lies in sales, marketing, and business management across distribution channels such as wholesale (B2B), retail (B2C), and digital/e-commerce (B2C).

Like many of my clients, I once faced the decision of whether to continue my corporate career or pursue self-employment as a consultant. I have now been self-employed for over 13 years as a management and business consultant and interim manager, and for 5 of those years, I was also actively involved as a franchisee/franchise master. I can fully relate to each of our clients and understand the questions, concerns, and uncertainties that occupy their minds.

With my guidance, you will find a shortcut to successful self-employment with significantly minimized risk. Whether you're starting a franchise or pursuing a business acquisition or succession, I will be by your side every step of the way, guiding you to a successful future as an entrepreneur.

Benefit from the experience of Matthias Herrmann

Matthias Herrmann, Entrepreneurship Consultant at The Institute of Entrepreneurship

Matthias Herrmann

For more than 12 years, I have been advising and supporting individuals seeking a successful and personally fitting path to self-employment but who lack their own viable business idea. 

I am happy to personally assist you with all the necessary information so that you can find the suitable company as the basis for your personal fulfillment. At the beginning, we clarify your individual conditions, wishes, and goals. After that, I comprehensively present the individual options and accompany you throughout the entire process. My goal is your sustainable success.

IoE guides individuals with leadership experience who are interested in starting their own business into successful self-employment. As a sparring partner and career mentor, I provide insights into the available options on an equal footing and, through an individualized consulting process, help identify the best options for you. It is precisely this tailored consulting approach, rather than a one-size-fits-all method, that has enabled me to advise and support over 200 entrepreneurs on their path to sustainable success.

I also have the flexibility to manage my time and work from home. Achieving a better "work-life balance" is a goal shared by many of my clients, and I can offer suitable options to help them achieve this.

We help aspiring entrepreneurs to become successful business owners. We understand that making a career change in this direction—leaving the seemingly secure world of employment and stepping into the risk of self-employment—is a significant and deeply personal decision.

A desire to be more involved in decision-making processes

The ability to actively shape the direction of the company

A self-determined, fulfilling role with a company or product that aligns more closely with personal values

Building an income that reflects one’s efforts and creating long-term value

Often, changes in management, the board, or shareholder structures lead to a misalignment between the company’s direction and one’s own goals and values

Do some of these reasons sound familiar to you? Do you long for more freedom? Then we should talk.

Contents of a Business Plan

Our Offering

Consulting Costs

Financing

Increase Your Chances of Success