We’ve all heard the saying, “If you fail to plan, you fail to plan.” But how many of us really take it seriously? Do we even understand what planning is, why we should do it and what the value would be? In my experience, until we understand the WIIFM (What’s In It For Me) we […]
Yesterday I met with someone who was interested in business coaching. When I started to talk to her about her business and to ask her what she wanted to achieve it was clear that although she had set some business growth targets there was no real clarity behind “Why” she wanted to achieve this. Rather […]
I’m often asked about the keys to successful marketing, and people are almost always surprised by my answer. What they expect to hear is that the key is “branding” or having a “witty catch phrase”. In reality, the answer is much simpler than all that. It’s called testing and measuring. Most people hate it. That’s […]
Major changes in the worldwide population affect not only who consumers are today, but also the available labor market. Franchisors and franchisees alike must adapt to this changing customer and employee base to find opportunities for growth. So how do young adults, millennials and franchising, impact business in our digital age? The “Millennial” generation—those born near […]
As ActionCOACH business coaching celebrates its 20th anniversary in franchising, I would like to revisit the humble beginnings of franchising as a business model and show how franchising has adapted to the needs of both consumers and entrepreneurs alike, making it one of the most successful and prevalent business models today. Franchising as a business […]
The simple truth is that most entrepreneurs are not that interested in managing people. They started businesses because they had a good business idea, and that’s where they want to spend their time. Of course, another truth is that no business will be sustainable if its people are not well managed. The good news for […]
The most common complaint I hear when talking to owners of small to medium sized businesses is that, “we can’t compete with the big guys on price.” The perception in the market place is that people are shopping on price alone. The only reason your customer asks the price up front is because that is […]
Let’s just assume, for the sake of making a point; that you have opened up a Dunkin Donut drive-thru on the side of a busy road. The outlet looks great. It is bright and visible with a signboard pointing towards it and the location is strategic. The road has a lot of traffic influx and […]
A couple of clients this month have been talking to me about how to complete a SWOT analysis (strength, weakness, opportunity, threat). On both occasions I had to tell them that, in my view the biggest problem with this analysis was the acronym it has been given because it is easy to say. So, what did […]
The most difficult decision a potential franchisee is faced with is to choose the right franchise for themselves. Considering there were 90,000 franchises reported in 2010, it gets increasingly overwhelming to filter and comb through a huge number to arrive at an appropriate brand. This is where franchise consultants and franchise brokers come into play. […]
Selecting the right people is just the beginning of building a successful team for your business. However, you cannot simply expect that your team alone will transform your business and take it to its next level of performance. It is equally important to have the following 6 keys to a winning team: 1. Strong Leadership Tom Landry, […]
When I hit the three year mark in my own business, I did what many business owners and entrepreneurs do, I hit a wall. No matter what I did, I couldn’t seem to find my way around it, over it, or through it. It wasn’t my sales or marketing skills, it wasn’t the delivery of […]
It is impossible to own a business and not dream of seeing it turn into a household name like McDonald’s or Burger King. You also might have considered franchising it at some point but never took the first step. Here’s a simple guide that breaks down the process for you: franchising business in 5 Steps! […]
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