Becoming a The Entrepreneur’s Source Franchise Coach can lead to years of success as an entrepreneur, as is the case with Steve Rosenkrantz.
Steve talked with us a little about his story and how he has successfully grown his coaching business through training, hard work, and networking.
Q: Describe your life and career prior to TES.
Steve: I’m probably not your typical TES coach, as I don’t come from corporate America. I’ve been an entrepreneur my entire life. In fact, I’ve never even done a resume.
When I went to college back in the ’70s and ’80s, it was kind of known that I was going there to get the experience I needed in business management to assist in my family’s business.
I grew up working in a True Value Home Center and related stores. We were second-generation owners, and I had five first cousins as business partners. We diversified over the years, and today the name is still out there. The legacy does continue.
However, the core of our business was downsized when the way business was conducted changed dramatically back in 2000 and 2001. We made the decision to carry forward with just a couple of our niches, and I decided to reinvent myself.
I thought for maybe a second about corporate America and quickly decided against it. I’m an entrepreneur and I always have been. I then quickly did an internet search, and that’s how I found The Entrepreneur’s Source.
I actually went through the entire TES discovery and education process as a client. I ended up loving what my coach did so much that one day I just looked at him and said, “I want to do what you’re doing.”
He was very supportive and said it was one of the three franchise options he would show me. I went through the process with an open mind and looked carefully at all three options.
It wasn’t hard to realize I was still gravitating toward being a coach. From there, I never looked back and became a coach in 2001.
Q: That’s quite the journey. Tell me a little more about your family business. When did you start working with that?
Steve: I started working right after I finished college in ’81 and worked there full-time until 2001. So that’s about 20 years.
Q: Why specifically were you looking for a change?
Steve: The retail landscape was already starting to change in the late ’90s, and our company recognized that. Big box stores were coming in, and so was the internet.
While we were profitable and owned all our businesses and their properties, we had choices to make. We realized that what we built wasn’t really the future.
We got past that crossroads by deciding to sell most of our businesses to others.
Q: You mentioned you considered corporate America very briefly. What about that turned you off?
Steve: In the corporate world, you need to be able to run your life and your day according to the company. I’ve always enjoyed the freedom that comes with business ownership.
I’m someone who makes effective use of my time, and I’m very goal- and task-driven. One day, it just dawned on me that I could reinvent myself.
It was uncomfortable to realize that my day-to-day would be very different, but I was excited.
I started exploring franchise-related businesses because I thought that while I had a lot to offer, I do have weaknesses as well. I analyzed those strengths and weaknesses and thought franchises might give me the structure and tools to support me, while still allowing freedom.
I have a unique perspective because I’ve been on both sides of the fence.
Q: How did you become aware of TES?
Steve: It started with a basic internet search. I was considering franchising and found a link to a TES coach and followed up with an email.
I learned there was no cost, no obligation, and the only requirements were to be curious and have an open mind. I realized I would be a great fit for that process.
My coach was based out of Boston, and we worked together for a few months. Initially, I felt the need to meet in person, but he helped me realize the benefits of working virtually.
The first time I met him in person was on the way to a conference—we were able to connect at the airport.
Q: Can you talk more about why technology makes meeting in person less necessary?
Steve: Each coach has their own style. Some very successful coaches believe face-to-face meetings are critical, and I do meet in person when it makes sense.
The reality is we help people all over the country and the world. With the TES process, clients interact with franchisors and franchisees everywhere, and they can’t meet everyone in person.
At the end of the day, it’s about making the most efficient use of time and helping clients make the best decisions possible. TES has optimized the virtual experience with excellent tools.
Q: What made you ultimately choose to work with TES?
Steve: I wanted a business that wasn’t overly complex. I came from retail with 300 employees and many moving parts, so I was ready for change.
I wanted something scalable that depended primarily on my efforts, not outside factors. I saw an opportunity to connect with people and make an impact.
The streamlined business model accentuates my strengths and minimizes my weaknesses.
Q: Take me through your experience as a coach—what have you liked and disliked?
Steve: In training, we learned to detach from the outcome. I’m human, so I feel bad when clients choose other paths, but I always ask for referrals.
Everyone I meet knows at least two people who hate their job. I turn setbacks into opportunities.
I stay in touch with people long-term because life changes. One client was in the military and years away from franchising—we kept in touch, and when he retired, we moved forward immediately.
I’m also active in networking: outplacement firms, the military, colleges, seminars, conferences, and community events. What TES does is unique, and people find it interesting.
Q: What characteristics have helped your success?
Steve: Empathy and persistence. I never give up on people. I have a glass-half-full personality and help others believe in themselves.
Corporate America may overlook the 50-plus worker, but I thrive with that group. They already have valuable skills and strong potential.
Q: Have you received any awards or recognition?
Steve: In 2003 and 2004, I won the Coach of the Year Award at the TES Annual Conference. The following year, I won the Vision Award.
I’ve also received Coach of the Year awards from individual franchisors. That recognition is incredibly rewarding.
I also volunteer on the Franchisor Review Committee with TES, which allows me to further contribute and build relationships.
Q: What’s next for you?
Steve: I keep raising the bar for myself. I’m never content and always set new challenges.
In 2017, my focus is elevating referral networks. Much of my future is about doing what I already do—just bigger and better.
If you’d like more information on becoming a coach, please submit a request to one of our Franchise Developers here.
