Posted by Alan Fairweather under How-To Guides,
August 31, 2008

If you're an employer or a manager then work place absence is costing you money, inconvenience, and upsetting your customers. And as we all know, not all days taken off work are due to genuine sickness. Many employees "take a sickie" because their morale is low and they just don't like or can't do their work.
The challenge for employers and managers is to make people happier at work. And if people are happy at work then they are less likely to take a day off every time they wake up with a stuffy nose. Some bosses think that paying more money, improving job security or working conditions is the answer. It isn't and it's also something that can be very hard to achieve.
People who employ or supervise other people need to become more tuned to their employees' emotional needs and find out what really motivates them. This is also much easier to achieve than paying more money or improving job security, however there is no quick fix. Some years ago I inherited a tele-sales operation with low staff morale and poor sales
results. It took nearly a year to fix. The long-term benefits were of course worth it in terms of fewer days lost due to sickness and an increase in business.
To reduce the number of sickies there are three steps you need to consider. Firstly, pick the right person for the job. There's a television advertisement running at present
for a recruitment company. It highlights the fact that many people are in the wrong job for their skills and attributes. The daft thing is that it was an employer or manager who put them in the job in the first place. We need to get better at interviewing and selecting people. Take more time over it; pay more attention to the applicant's human side rather than their qualifications or experience. Get to know them better.
Find out what makes them happy, how well they get on with other people and how much energy and enthusiasm they have. Make sure they know what they're getting into and be sure
the job suits them.
A manager in the telecom industry was telling me about an engineer who was taking too many sickies. He was being blamed for a poor attitude to his work. His job involved working in tunnels under the city repairing and installing equipment. Eventually it was discovered that the poor guy was claustrophobic and was trying to deal with it on his own. He still works for the same team but in a job that doesn't involve small spaces. It's not always easy to move people, which emphasises the importance of getting it right in the first place.
Secondly, you need to believe in your people. If you've interviewed well and picked the right person for the job then you need to trust them to do that job. You need to constantly demonstrate to your people that you trust and believe in them by what you say, your tone of voice and your body language.
If you believe that your people are not to be trusted, that they're unable to make a decision without checking with you. That they'll turn up late and go homeearly, then that's exactly what they'll do. If on the other hand you believe that they'll do their job well, that they can be trusted to make decisions and they will give you a fair day's work, then it is more likely this is what you'll get. As with all theories there is no guarantee that it will
work every time, however the majority of employees are reasonable people and if you treat them as such then they are more likely to behave in a positive manner.
The third and probably the most important thing you can do to motivate your people is to give them feedback and coach them. This is where so many employers and managers fall down in dealing with their people; we are hopeless at giving feedback. Many managers are uncomfortable telling staff how they feel about their work performance.
Most employees want to know how they are performing in their job; they want to know if they are doing it right or how they could do it better. If you really want to motivate your people then you need to give them feedback on what they're doing well and what needs improvement.
When you notice an employee doing something you do like, tell them about it. When you notice something you don't like, tell them about it.
Do it as soon as possible. Acknowledging a job well done is not much good six months later. Also, if you don't immediately call someone's attention to something you're not happy about, then they'll assume its okay. Either that or they'll think you didn't notice or you don't care. Do it in private. Why is it some managers still feel its okay to reprimand someone in front of their colleagues? Even the mildest rebuke can have a negative effect on morale.
When you do speak to the person use "I" messages. Say things like "I liked the way you did that" or "I'm unhappy with the way your reports are always late and I'd like your views on why this is". Avoid "You" messages such as "You're doing great". That can come across as patronising or insincere. "You're doing that all wrong" may cause conflict, lower morale and may not sort the problem.
Focus on one or two things. Don't run off a whole list of attributes or misdemeanours. Also be specific about job behaviour, focus on what the person did or didn't do, don't make a personal attack. Employees will feel happier if they perceive their employer or manager as a reasonable and fair individual - someone who is quick to praise but also says when they're not happy about something.
When we start to look at what motivates people at work, it's important to realise that we all have different needs. It's easy to fall into the trap of believing that all our staff are motivated by money. However, research conducted over the years into what motivates people at work suggests some other factors.
Money is important however people are more likely to be motivated firstly, by the work itself. Secondly, by being appreciated for what they do and thirdly by a feeling of being in on things.
The message is - if you want motivated staff then make their work interesting, give them feedback and give them the feeling that they're involved in the business.
We can make the job more interesting by giving people more responsibility, assigning projects and by training and developing them. We need to regularly give people feedback on how they're doing; focussing on what they're doing well rather than on what is not so good. To meet their need to feel involved we should regularly communicate both formally and informally. We could also involve staff in meetings they might not normally attend.
These steps will take time and thought however they'll make a huge difference as to how employees feel about their work. If they feel good and gain satisfaction from their work then they're less likely to find a reason to "take a sickie".
Alan Fairweather, 'The Motivation Doctor,' is an International Speaker, Author and Business Development Expert. To receive your free newsletter and free e-books, visit: http://www.themotivationdoctor.com

Article contributed by Karen S Sieczka
It is better to have enough ideas for some of them to be wrong, than to be always right by having no ideas at all. --Edward de Bono
As entrepreneurs, we have all failed at one time or another. An idea doesn’t pan out, a deal falls through, we get rejected by an important client, things don’t turn out as expected. We feel disappointed and sometimes we even feel hurt. Often, we want to throw in the towel. When this happens, we need to remember failure is an important part of the process of building success.
Failures can become turnarounds. Lee Iacocca brought the failing Chrysler company back from the brink of extinction in the 1980’s. Harry Truman failed miserably in many business ventures before becoming president of the United States. If these two had given up when things were tough, their names would be lost to history.
You probably know who James Dyson is. He is the guy who invented the extremely successful and popular bagless vacuum. It took him over 5,000 tries to get his design right but he used each failure to make improvements and move closer to his desired end result. We wouldn’t even recognize his name if he had thrown in the towel after the 10th failure or even the 4,999th failure!
Everyone knows who Colonel Sanders is. He concocted the secret herb and spice recipe that made the most famous fried chicken on the planet. He was rejected over 1,000 times before someone thought his recipe was finger licking good.
Look at the Wright brothers. How many times did they have to regroup before their airplane left the ground? Look at Google founders Larry Page and Sergey Brin. They didn’t wait for the perfect search algorithm. They started the company and then refined the process as they went along.
Thomas Edison was known for the incandescent light bulb and first recording of music on a wax cylinder. He and his colleagues tried thousands of experiments, some miserable failures, some partial failures, some successes, but each attempt, each process brought something to the table, and sparked an idea or brought them closer to a solution for another puzzle.
Read biographies of famous people. Even among the most successful, most have felt the sting of miserable failures at one time or another. How did they react and move toward success? Focus on how they learned from the mistakes and moved onward and upward. How can you apply these lessons to your own life, career, and circumstances? Ponder this: do you accept defeat when something goes wrong or do you regroup and try again? How persistent are you?
You have to accept failures are part of the success experience. Mistakes often become the next great innovation. Vulcanized rubber was a mistake. Microwave oven technology was created by accident. Penicillin was the result of a failed experiment.
To be successful, you must reconcile with the possibility of failure. Being successful involves taking risks, and the possibility of failure, ridicule, disapproval, and disappointment. Be courageous. Everyone makes some mistakes. You may never figure out all the outcomes before you plunge into a project. So what? Do it anyway! If it fails, learn from it and try again!
Karen S. Sieczka is a training consultant and founder of Growing Great Ideas.com. Her latest training program is Growing Great Ideas: Unleashing Creativity at Work. The program generates ideas, enthusiasm, and teamwork and can be customized to address particular organizational issues or challenges. This article was excerpted from the Growing Great Ideas: Unleashing Creativity at Work book, now available at LULU.com for download or print version.
Article contributed by Don Daszkowski
How much does a franchise cost? Of course the cost of obtaining and starting a franchise depends on several variables. For instance, the type of industry, size and location are some of the differentiating factors. However, there are some basics that you could keep in mind if you are contemplating becoming a franchisee.
First of all, you will usually have to pay a franchise fee, which averages somewhere between $20,000 and $30,000. However, the fee could be less than $10,000 for businesses such as mobile and home-based businesses, or in some cases could possibly cost $100,000 or more. A few examples of these more expensive franchises include building maintenance businesses and some types of athletic training facilities.
Since you are gaining the advantage of taking part in an already recognizable business name, and usually ongoing support from the franchisor as well, franchisors typically stipulate that a potential franchisee meet other financial requirements. A predetermined amount of readily available funds that are not borrowed is usually a necessity as well as a certain net worth. In order to pay for ongoing expenses that are not covered by revenue you will also need a guaranteed amount of working capital. Depending on the type of business, it is important that the working capital cover a particular length of time, ranging from a few months to possibly two to three years until the business is in full swing. The franchisor typically provides an estimate of the amount needed.
Besides the franchise fee, other upfront costs could include professional fees such as legal and accounting services, insurance, and operating licenses. Employee training, inventory, and equipment are usually part of the startup as well. Also plan on, rent and possible leasehold improvements, and other costs involved in setting up a retail location including the purchase of fixtures, signs, and landscaping. You may also incur grand opening and initial promotional expense to get the business going.
Keep in mind that many times a higher initial investment does not necessarily mean a higher return. Often times franchises can be started with a total initial investment of less than $200,000 and sometimes even less than $50,000. Some home-based business such as handyman franchises and marketing franchises provide a decent return with little upfront cash.
Ongoing, you will need to be prepared to continuously pay royalties to your franchisor, possibly 4 to 6 percent of your revenue. Also, insurance (liability and health), inventory, and equipment maintenance would be continuous expenses. Of course, there will be employee salary and benefits. Additionally, you may be required to pay into a national advertising fund.
Before making a decision on a franchise, it is important to obtain from the franchisor a copy of the Uniform Franchise Offering Circular (UFOC), also known as the disclosure document. The upfront fees are outlined in this circular. The document should describe the initial fee which may be non-refundable as well as the other startup costs. If there are any items that you believe might be a startup costs that are not mentioned in the disclosure, be sure to ask about them.
All in all, you want to be sure your financial situation will cover expenses for you and your family during the time it takes to get the business up and running. This may take several months or a bit longer than that. Keep mind your operating expenses as well as personal expenses for the first year or two in business. In order to have the best chance of success with a franchise, it is recommended you contact a franchise consultant to discuss your goals and finances.
About the Author
BusinessMart.com has become the fastest growing business for sale search engine, helping buyers and sellers of small businesses and franchises. BusinessMart.com has many resources to help you on your journey to start your own business, sell your existing business or open a franchise. BusinessMart.com has thousands of businesses for sale in the US and Canada.
Posted by Tracey Lawton under Entrepreneurs, Finance & Capital,
August 26, 2008

I bet just the very title of this article is enough to make you run for cover! Along with paper piles, budget and Cashflow is another area that can drive solo business owners over the edge! In your corporate days you would have had a bookkeeping/accounting department that took care of all of this for you – they paid the invoices, they tracked the receivables, they tracked the income, and they told you the bottom line!
Now that you’re running your own business you are also the Chief Financial Officer, and it can be very overwhelming. However, it needn’t be… let me share with you three simple steps that you can put in place to manage your budget and Cashflow.
What is a Cashflow projection?
One important area of your Financial Management System is that of a Cashflow projection. Put simply, a Cashflow projection shows whether your anticipated income will be able to cover your expected (projected) expenses and this report is very beneficial to you in your business.
It is an annual report and, if set up correctly, will show you how cash will flow through your business throughout the current financial year. I’ve been using a Cashflow report in my business for many years and find it invaluable. Just recently the chance to participate in a high-profile teleclass series came up, and because I have my systems in place, I knew straightaway that it was something I could take part in!
Step 1 – Create Your Cashflow Report
This is very easy to do using a spreadsheet. Create a column that lists all of your expenses, i.e. office supplies, legal & professional fees, membership, advertising etc. and a column for each month of the year. You will need to create formulae that will tell you your total income, total expenses, and subtracts the expenses from the income, and also carries forward any amounts from month-to-month. This is so you can see how your finances are ‘flowing’ throughout the year.
Step 2 – Input Your Data
Taking your financial data from your bookkeeping system input your actual income and expenses, and list any projected expenses in the appropriate row/column. Your Cashflow report will now show you at-a-glance any time periods for which you will need to be especially aware of. For example you may have a lot of expenses in one particular month so you’ll know that the previous month you’ll need to make sure that you have the funds kept back in your bank account to take care of those upcoming expenses.
It will also show you if you can afford to make an investment in your business, whether that’s signing up for a new service or membership club, taking out an advertisement, or buying new equipment.
Your Cashflow projection can also be used as a budget planner. You can plan out when annual memberships are due and put those in ahead of time. You can also add in an amount for when your taxes are due. This will provide you with a really good feel of how cash is flowing through your business, month after month, throughout the year, and you can also tell how much you can take off for owners draw, but still leave enough to cover the anticipated expenses.
Step 3 – Schedule In The Time
Now that you have your Cashflow report in place, it’s important that you update it regularly so that you can stay aware of how cash is flowing through your business, and take any actions necessary so that you have enough to cover all of your anticipated expenses.
I recommend scheduling in at least 30 minutes once a month to update this critical financial management report.
A Final Thought...
Having an annual Cashflow projection will provide you with all of the information you need so that you can keep on top of your business financially and know where you are.
If you have a bookkeeper taking care of all your financial records for you, ask them to prepare your monthly Cashflow report for you.
Online Business Manager & Virtual Assistant, Tracey Lawton, supports professional speakers, coaches, and authors to operate an efficient, organized, and profitable business. Learn how to create an efficient and organized office in 7 EASY steps, and receive free how-to articles at http://www.OfficeOrganizationSuccess.com.
Posted by Alan Fairweather under Communication Skills, People & Relationships,
August 25, 2008

Do you remember being told to use the "sandwich" technique when you needed to reprimand someone? Let me give you an example:
"Fred, I'm really pleased with how you've been progressing since you joined us and you're doing a great job. However you're not getting your reports in on time and we're missing
deadlines. I'd like you to tighten up a bit on this. Anyway,thanks for all you've done so far and keep up the good work."
Have you ever said something along these lines when managing your team? You probably needed Fred to sort out his reporting but you didn't want to upset or demoralize him.
The only problem is that Fred may not get the message and the importance of it may be seriously diluted.
He may hear it as, "Fred, you're doing a brilliant job, you just need to sort out the reporting bit but it's not really that important."
What happens then is, Fred continues to fail with his reports.
The "sandwich" technique doesn't work, it lets you off the hook and it's mealy mouthed. Be direct when managing your people and they'll respect you more for it. You are also much more likely to get a change in behavior.
If you're unhappy with some aspect of an employee's performance then you need to tell them so. The skill is in doing it in a way that's effective and doesn't lower the morale of the individual.
Firstly, it's not acceptable to speak to your people just when you're unhappy about something. Tell them the good news as well. As Kenneth Blanchard and Spencer Johnson say in their book The One Minute Manager - "Catch people doing something right" and tell them about it.
Some managers and employers still have this strange notion that if people are doing things right then that's what they're paid for and they don't need to be complimented.
Ask almost any employee in Industries throughout the world and they'll tell you that they don't feel appreciated by their manager.
When you notice someone doing something you do like, tell them about it. When you notice them doing something you don't like, tell them about it. Whether it's good news or bad, the same rules apply.
Do it as soon as possible. Acknowledgment of a job well done is not much good six months later. Also, if you don't immediately call someone's attention to something you are not happy about, then they'll assume it's okay. Either that or they'll think you didn't notice or you don't care.
Do it in private. Why is it that some managers still feel it's okay to reprimand someone in front of their colleagues? Even the mildest rebuke can have a negative effect on morale.
When you speak to the person use "I" messages. Say things like "I liked the way you did that" or "I think there is another way to do that." Avoid "You" messages such as "You're doing great." That can come across as patronizing or insincere. "You're doing that all wrong" may cause conflict, lower morale and may not sort the problem.
When your giving feedback, focus on one or two things. You'll only confuse the person if you run off a whole list of attributes or misdemeanors. Be specific about job behavior, focus on what the person did or didn't do, don't make a personal attack.
Allow time for the message to sink in and allow the person to respond. You can then seek agreement as to what will happen in the future. If the person does not agree to take
corrective action then you need to move to another level. When they do agree to take corrective action then make sure that you monitor it and give encouraging feedback.
Being direct with your people is better for you, better for them and better for you business, so save your "sandwiches" for lunchtime.
Alan Fairweather, 'The Motivation Doctor,' is an International Speaker, Author and Business Development Expert. To receive your free newsletter and free e-books, visit: http://www.themotivationdoctor.com
Posted by Lorraine Cohen under People & Relationships,
August 22, 2008

I’m incredibly blessed to have developed wonderful business relationships and friendships. I can’t imagine who I would be or what my life would be like without them when I need business advice, feedback, to vent, a hug, a cheer, or a kick in the pants.
I’m a believer that the outside world is a reflection of the person we become on the inside. On days, when I am not at my best and feeling a bit low, I think of the people in my life who like hanging out with me in business or in my personal life. I realize if the people I enjoy, love, admire, and respect as high quality people want to be with me, well, what does that say about me, huh? My mood begins to lift and my thoughts shift. It’s a great reality check!
It takes time to develop trust and safety with folks.
The 10 qualities below are personal values I bring to my relationships and ones I look for in others.
1. Authenticity. Being real and genuine (as much as possible). Willingness to be vulnerable and let go of the need “to look good” in all situations invites opportunities to make a heart connection. In truth, we’re not always are our best and being human invites others to be real and genuine. When I’m in conversation with someone who is only sharing from their head, I have no sense of who they are because I can’t feel them anywhere!
2. Listening and communications skills. Who doesn’t want to feel heard and understood?Having the ability to express thoughts and feelings creates connection. Becoming a great listener and communicator is an art; one that can be developed without having to be perfect. Refer to a prior post I wrote on The Art of Listening.
3. Forgiveness. Making it ok to be human. I have put my foot in my mouth on many occasions and been forgiven. We all screw up sometimes and knowing that our human choices (yup I said choices) and mistakes will not cost us love and acceptance is a huge builder of trust and safety.
4. Unconditional love/acceptance. That’s what our children and animals teach us! Being loved and accepted for who we are is a normal and human desire we all want. Our individual viewpoints, experiences, passions… add richness and flavor to relationships (and the world). When we can offer unconditional love and acceptance to others we share a great gift that can be nurtured and passed on. That is how we serve others to heal and grow. Love is our natural state! Being forgiven has taught me how to forgive others; to look beyond the action or comment and see who that person is - someone just like me who wants to be loved and accepted.
5. 100% responsibility. Letting go of the blame game and fully owning thoughts, words, and actions. This is about being in personal integrity in how we show up and making amends when appropriate. Folks in my circle know that if it’s my stuff, I’ll own it and clean up anything I’ve created to the best of my ability. Red flags go up for me when I see folks play the blame game and pass the buck.
6. Not taking everything personally. This is an advanced skill to be able to hear and experience people from a charge neutral space with compassionate detachment. As a coach, therapist, and counselor, being able to step back without personalizing is a skill I’ve honed over the years. Having a strong self-image and sense of self are critical elements in being able to de-personalize. Being hungry, angry, lonely or tired can make it harder to stay in a loving space with people without reacting. Keeping self-care a priority is important!
7. Aligned values. Spiritual growth, personal transformation, communication, integrity are some of my core values. The people closest to me all share a common value of personal growth/life-long learning. Being with people who share personal, business, life values can feel like connecting with kindred spirits!
8. Compassion/empathy. Loving appreciation and understanding without judgment or criticism. Being thoughtful and caring invites the love of our soul to emerge. Ties right back to #4.
9. Supportive. People feel supported in different ways. Communicating what we need to be supported is the way we teach people how to show up for us. Building a strong community of people who nurture, energize, and lift us (whether we need a boost or not!) invites us to be authentic.
10. Managing conflict. This is a biggy for many folks. When people show up to work through the conflict by taking responsibility for their part, de-personalizing, being honest, making amends if necessary…. many of the points I’ve written about already, real trust and safety flourishes. We want to know that when things get tough and uncomfortable, folks will stick around and not leave us! Read my post - A Model for Conflict Resolution.
What would you add on your list?
When you’re having one of those days when you’re not feeling great, look at the people in your life who hang out with you because they love you, respect you, and appreciate you. You might find remembering helps to broaden and lift your outlook!
Dr. Lorraine Cohen, President of Powerfull Living, brings more than 25 years experience in personal and business coaching, psychological counseling, and sales to thousands of spiritually minded business owners, entrepreneurs, and leaders from a wide range of industries. Learn more about Lorraine’s services, success products and programs.

Small Business Branding: There are aspects of our business life that are challenges. When I blog or when I design or consult, I often come across challenges that only research can address. I am currently investigating podcasts. I want the production to be more than me in front of a microphone discussing branding tips. What about production values? Background music? The intro? All of these concerns are what is known as pain points. In the course of accomplishing something, these are the little irritants along the journey.
When you develop your marketing materials, recognizing your target audience’s pain points and exploiting them, will resonate with that audience. Don’t bore them with simply a list of what you do and how well you do it, but answer the age old question from the mouth of your consumer: “What’s in it for me?” or “How can I profit from dealing with you?”
Let’s say that you’re a bright young management consultant. Your target audience’s pain points might be:
• Industry compliances
• Retaining quality employees
• Training sale staff
• Keeping a tight reign on payroll
• Cross-border issues
…just to name a few.
If you want to get their attention, address what you know to be the biggest pain point of them all. Use the pain point that feels as though you’re hitting their sore tooth with a small metal hammer. Their pain is your gain.
To go back to my pain, (podcasting) - whenever I came across information that addressed one of my pain points, it resonated with me and I investigated that service further. I ignored all others who tried to sell their services with brag notes or fancy slogans, I don’t have the time to figure them out. You might even use your own target’s pain points as the basis of your brand differentiator.
Look at pain point solutions that exist all around you: If you perspire, you use Ban roll-on - if your feet hurt, you use a Dr. Scholl gel insole - if your mortgage is to complicated, ING has the unmortgage. The wonderful thing is, your customer wants you to address their pain points. We all want relief.
In many ways if you don’t use pain points to sell, many customers probably wonder why you exist. Understand their pain and sell them the relief.
They’ll love you for it.
How To Sell The Pain [Small Business Branding]

Business Advice Pro: Do you remember the last time when you really needed to do something, but you just couldn’t because you were constantly thinking of something else? Remember? I do. There are ways to fix that. And no, I’m not going to talk about the waves in the air or about some other mambo-jambo. And I’m not even going to use the word autosuggestion (The term autosuggestion is used for positive or negative physical symptoms explained by the thoughts and beliefs of a person.), even though it is part of the game. I’ll try to do it in a bit more humane & practical manner.
Theory: In order to do something, you need to get rid of all the unnecessary thoughts. Why? That’s because otherwise you can’t really commit to that one other thing.
Example: Imagine you *need* to write ten blog posts today, but have hard time doing it because the only thing you are thinking of is the money transfer that you should be getting any day now. You think of the money, you think of what you are going to do with it, etc. Now try to stick to writing your blog posts, it’s not an easy task. I know some of you won’t understand what I’m talking about here, yet some of you will understand it too well.
Problem: If you were asked NOT to think about an elephant, what are you going to think about? About the elephant of course! That’s the problem here –trying not to think about something usually results in more thinking about the not-to-think-about thing.
Solution: Yes, you could consider autosuggestion or self-hypnosis here, to make something with your subconscious mind. Well, yes, you could. But why do people ALWAYS want to complicate things? Instead of think about the wrong thing, make a decision, a reasoned decision why you should not think about it anymore. And start thinking of reasons why you should be working or why you want to work with the thing you actually need to get done. It is easy.
• DO NOT think that you should not be thinking about the thing you are thinking about
• DO think about WHY you shouldn’t be thinking about it
• DO think about WHAT you actually need to concentrate on and WHY
• And soon you’ll see the right thing is the only thing your are thinking about
Learn to take control of your mind [Business Advice Pro]
Posted by Marcel Sim under Entrepreneurs,
August 19, 2008
This article is contributed by Lesley Mattos of Adesso Albums, Inc

Why would a woman making a six-figure salary in Silicon Valley choose to
leave her high profile position with Cisco to create a product that used no
21st Century technology?
Because almost thirty years of working with Silicon Valley's top technology
companies can take a toll on a gal's ability to stop and see, much less
smell the roses! During a trip to Italy, far away from friends and family
and immersed in a culture that lives in the moment, I realized what I'd lost
sight of.
And that's where the idea for Adesso Albums was born. Six years later,
Adesso Albums is an international company with more than a million dollars
in annual revenue.
So how did I do it?
10 tips for Success in Business – Based on My Personal Experience:
1. Embrace change. It's an inevitable part of running a business. Rather
than fighting it, wasting valuable time and eventually losing, you're better
off anticipating, planning for, and embracing change. As a small business
owner you should be nimble and react quickly in a variety of ways. If you
look at change as an opportunity to grow, you will!
2. Use technology. Do more with less by automating routine processes with
web-based applications. These applications increase productivity and free
you, your staff and your resources to focus on more important tasks. And,
these applications can be accessed from anywhere
3. Keep your eye on the ball. It's easy to get caught up in the day-to-day
minutia of running a business. Constantly ask yourself if your daily
activities get you closer to your overall goals for the company. It will
keep you on track and stop you from spending time on the wrong things.
4. Know your differentiators. Compare your products and services to the
real, as well as the perceived competition. A competing concept can be even
more threatening than an actual product. Unless you have thought about what
differentiates your product or service from everything that's out there,
your marketing efforts will fall short.
5. Lead by example. Peers and subordinates alike will learn from your
example. They “listen” with their eyes more than with their ears. Your
actions mean more than what you say to them. Make sure your processes and
actions both inside and outside the office are things you want emulated.
6. Give the illusion of participation. Everyone likes to feel like they are
part of the decision process, so let them! Then do what you think you ought
to do anyway. It's not necessary, and often actually a hindrance in a small
business environment to employ the decision by a committee process.
7. Control timing. We often miss opportunities because we think we have to
respond immediately to stimuli such as phone calls or emails. Just because
the phone is ringing or an email comes in, it doesn't mean you have to
react. Your day shouldn't be a series of interruptions. The more you
control your distractions, the more effective you'll be.
8. Know what you don't know. It's inconceivable that you could have an in
depth knowledge of every aspect of your business. Acknowledge your weak
areas and surround yourself with competent resources and trusted partners
and learn from them.
9. Stay organized. It is critical to update, edit, add and delete from your
list of to-do's on a daily basis. Nothing feels better than crossing things
off. And, with a well-maintained list for you and your team, everyone will
stay on track and your chances for success are enhanced.
10. Plan for success. Formalize your processes as you go. Plan for and
build infrastructure ahead of your growth. So when your growth spurt comes,
you're ready for it. And don't forget to celebrate your successes along the
way. Stop and pat yourself and your team on the back as milestones are
achieved.
Following these ten tips not only helped me grow Adesso Albums to over a
million dollars in annual revenue last year, it also helped me reach tens of
thousands of people and help them live in the moment. Everyday we get
cards, letters, emails, pictures and even videos from our customers telling
us how Adesso Albums have touched their lives – and in so many ways –
both personally and from a business perspective.
From the couple who just got married and looked at their original instant
photo guest book every day of their honeymoon to the military family who
used an album to chronicle what happened while the dad was on tour for a
year, to our international distributors who each used the albums at their
weddings and have since quit their day jobs to sell Adesso Albums in their
part of the world – its' all very humbling.
With a good idea, a little luck and my ten tips, you are well on your way to
success too!
About the Author:
Lesley Mattos is Owner of Adesso Albums, Inc. and creator of the original
instant photo guest book that combines retro, funky and fun Polaroid instant
photos with hand written sentiments from guests. Now you can create an
instant memento that is presented to honorees at events such as weddings,
birthdays, anniversary or retirement parties as they are leaving! Visit
http://www.adessoalbums.com

Why are some people able to achieve so much more out of their lives than others? Why are some people able to produce outstanding, extraordinary results, exceeding what is commonly expected?
Is it because they have a lot more talent or capability? Do they have superior resources that other people lack?
Did the Wright brothers, inventors of the airplane, possess more aerodynamic and engineering expertise than the sum of all the engineers and inventors of their time?
Did Mahatma Gandhi come from a powerful family that enabled him to establish a power base to liberate India from the British?
Was Ho Chi Min a mighty general who trained the Viet Cong to first drive out the French and then the Americans?
These men did not possess any measurable resources to achieve their accomplishments...and history is peppered with many examples of such outstanding individuals.
What set these men apart were the incredible beliefs they had about the moral rightness of their cause. That gave them extraordinary strength to fight on against all odds, winning eventually.
Beliefs are like Operating Systems
Our beliefs can be described as the operating system to our brain. They determine our expectations, producing the proportionate results.
If you believe that you can become a Millionaire, CEO or President, this is what you will expect from yourself.
If you believe you do not have the capability to earn more than $40,000 a year, this is also what you will expect from yourself. If you believe that you can lead others, you will expect to attain nothing less than a management position.
If you believe that you are nothing more than a follower, you will not expect anything more than being just a front line employee.
If you have an empowering belief that you can build a highly successful business, this belief will drive you to take massive action.
You will develop a business plan, attract investors and launch your marketing campaign.
You will start innovating new product lines, probably investing in Research and Development to create entirely new products or processes
Sure you will have lots of obstacles along the way, but your beliefs will drive you to turn any failure into feedback changing your strategy until you get the result you want.
Even if you don't achieve the exact targets you set for yourself, you are going to produce some great results.
Beliefs are the driving force behind the actions we take, determining how much personal potential we are able to tap within.
When we believe that something is possible, we will go all out to make it happen. We will take massive action and commit ourselves to keep doing whatever it takes to achieve it.
Strong empowering beliefs lead seemingly ordinary people to achieve extraordinary results, while limiting beliefs cripple the most talented despite them having all the resources, from achieving what they could have achieved.
Adam Khoo is an entrepreneur, a best-selling author and a peak performance trainer. A self-made millionaire by the age of 26, he owns and runs several businesses in education, training, event management and advertising, all with a combined annual turnover of $20 million. His best-selling "Patterns of Excellence" is a complete step-by-step system that will literally program you for success in life.
Posted by Alan Fairweather under How-To Guides, People & Relationships,
August 17, 2008

Do you want a highly motivated team who don't take time off work, don't keep looking for other jobs and make a positive contribution to your business?
If the answer is "yes," then there are three steps you need to take with each member of your team.
Step 1 - Spend some quality time
I didn't say "quantity time" I said "quality time." One or two minutes of quality time on a regular basis are far more productive than a one hour review every year. You need to get to know each member of your team better and they need to get to know you.
This will help you build a positive relationship with each team member. You'll gain a much better understanding of them and how they're handling the job.
It will also give the impression that you care about the individual and show that you're there to help with problems both personal and business. Spending quality time will encourage opinions and ideas to flow from them and allows you to explain the company's mission. It gives them a feeling of being in on things which is a huge motivator.
It will also help you build an "early warning system" of any problems both business and personal. Finally, it builds team spirit and morale.
Step 2 - Give feedback and coach
You need to regularly tell each member of your team when they're doing well and when not so well. I read some recent research that suggested 65% of employees in the US received no recognition at work in the past year. My experience tells me that it's much the same throughout the world and much worse in some countries. Some managers still believe - "why should I praise people when they're only doing what they're paid to do."
If you want a happy and motivated team then you need to tell them when they're doing well.
It's also important to tell people when they're not performing well. There are too many managers who either ignore poor behaviour or come down on the person like a ton of bricks.
There are particular ways to give feedback and coach and they're described in detail in the book - How to get More Sales by Motivating Your Team.
Step 3 - Be a believer
We're now getting into the area of "Empowerment" which was first introduced in the 1980's and became a bit of a management buzzword. However, I believe that it's one of the most promising but least understood concepts in team motivation today.
I'm a fairly down to earth practical sort of person (probably comes from my engineering background). I'm not big into motivation theories unless I can see the benefits for me - I see a great deal of benefit for managers and team leaders in Empowerment.
Empowerment is about utilising the knowledge, skill,experience and motivation power that's already within your people.
The majority of people in teams and organisations throughout the world are severely underutilised. Your team have probably more to offer in terms of skill, knowledge and experience.
Put this to the test right away - implement these steps, motivate your team and achieve your business goals.
Alan Fairweather, 'The Motivation Doctor,' is an International Speaker, Author and Business Development Expert. To receive your free newsletter and free e-books, visit: http://www.themotivationdoctor.com
Article contributed by Debbie Dragon

Times sure have changed. In my lifetime, the transition from cash, to check, to plastic has been astounding. In today's financial society, it is rare to find many who do not have a credit card, or at the least, a debit card. Either a credit card or a debit card is required at many business locations. For example, it is hard to rent a car without one. In addition, you will find it hard to buy an item over the phone, say off of the television, without plastic. You will run into the same obstacle, while shopping online. Plastic has become a necessity. If not a necessity, then definitely a financial asset on many occasions. You will find it hard, without the card.
I see a day, when cash will no longer be utilized. A day when everyone's check will go directly onto plastic. You will use plastic for every transaction, from buying a soda to paying your mortgage. However, that may be a while down the road. For now, the credit card customer's of the world are still trying to adjust. Still attempting to become comfortable and efficient with them. Credit cards are well worth having. They are a great way to build credit. Credit cards empower the customer to purchase some of the things in life, they normally could not afford. I would like to say this however, and I know you have heard this somewhere before, but with power, comes great responsibility.
It seems simply unthinkable, that a business today would not be set up to accept credit cards. In saying that however, I know there are still locations that do not. In recent years even the fast food industry had to jump on the band wagon. It cannot be ignored. Plastic is the future. If you intend to be successful in business, at some point you will have to take credit cards. There is no way around it. This is no different for someone who owns, say a online business. If you want to compete with other business outlets, you will have to be set up to take credit cards. I own an online Freelance Writing Business. I am set up to accept credit cards. Business transactions are much easier online, if you use plastic and accept it as well.
Sure you can except a check from a client. However, if you do, it is not going to be a quick transaction. A credit transaction is immediate. That is what you want in business. Quick return on your investment. Credit cards are safer as well. Let's face it, most people that write checks are honest and upstanding. Then again, there are those who think as long as they have checks, they have money in their account. Utilizing a credit card for your online business and accepting them as well, makes you legit It is beneficial to your customers and clients, as well as for you. It does not take much foresight to realize, that credit cards are the future of business.
About the Author
Debbie Dragon is a writer for CreditorWeb.com, where she writes about credit cards, credit card offers and general personal finance.
Posted by Lorraine Cohen under Planning & Management,
August 14, 2008

“It takes courage to demand time for yourself. At first glance, it may seem to be the ultimate in selfishness, a real slap in the face to those who love and depend on you. It’s not. It means you care enough to want to see the best in yourself and give only the best to others.” - Shale Paul
I advocate prioritizing self-care. In fact, I’m a broken record about the importance of being self-ish. (I’ll be writing more tips on this topic too). Are you cringing at the idea or thinking, “I’m just too busy? Are you nodding your head yes because you know it’s important and you don’t make the time in your day?
Have you been taught that putting yourself first is wrong or bad? You might have first-hand experience of having people judge you, withhold love or affection, or punish you in some way when you did something just for you?
Do you hear about people who are held in high esteem because they have always self-lessly been there for others? In our society, people are often applauded and emulated for how they are always there for others. I wonder…. are they also there for themselves? Do they allow others to be there for them as well? Are they great givers and poor receivers? How about you?
Here’s the point…….
When we continually give our time, energy, attention, ……to others without replenishing and nurture ourselves, we move closer to a “burnout” state of exhaustion, confusion, irritability, resentment, anger, destructive behaviors… that can lead to health or psychological problems.
Who wins there?
No one, especially you.
Make self-care a priority by practicing self-ishness. Create a new positive definition for self-ish that gives permission to value yourself AND be loving with others. We teach people how to treat us by our example. Do you wish to communicate to others that your needs, value, and worth are unimportant? If you’re a parent, is this what you wish to teach and model for your children?
It’s time to challenge and replace some of the beliefs and behaviors that have been handed down for generations that repress our authentic self from fully and joyfully emerging!
Say yes to yourself and others because it brings you joy. Say yes because you choose to rather than out of guilt or fearfull obligation. Say yes because you want to be of loving support and assistance rather than because you feel you “have to”.
Answering the calling of your needs, heart, and mind will help you respond to the calling of others. When you become self-ish you’ll have the extra reserves (time, energy etc.) to be generous with others. Be open and willing to make changes in your personal and professional life that “feed” and lift your spirit, rather than depleting you. When feeling conflicted, ask yourself, “What would respect my intentions of taking care of myself in this situation?”
1. Spend the next 7 days doing something very, very selfish every day. Do something each day that brings you joy and pleasure (even a guilty pleasure if you want!). It can be anything you want – that is your gift from you to YOU. I don’t mean doing something for someone else because it makes you feel good (or better about you, ok?). '
2. Say no because you feel like it. Refer to my article on saying no for some help!
3. Have a special gift or talent? Create a setting for that to flourish. Everyone will benefit.
When you take care of yourself, the people in your life you care about will experience the best of you rather than what’s left of you. If you start feeling guilty see the guilt as a sign you are on the right track. Making changes aren’t always comfortable at the beginning - for yourself and those around you. In time, people will adjust. By modeling a healthier way of being, you invite others to take more responsibility for their own happiness and self-value
Obviously you must practice discernment when making changes in your life. The rewards for taking better care of your self are boundless. You’re worth it!
Dr. Lorraine Cohen, President of Powerfull Living, brings more than 25 years experience in personal and business coaching, psychological counseling, and sales to thousands of spiritually minded business owners, entrepreneurs, and leaders from a wide range of industries. Learn more about Lorraine’s services, success products and programs.
Posted by Steven Teo under Online Business,
August 13, 2008

Blogtrepreneur: Most bloggers would love to get more traffic with social media, regardless of how much they’re getting now. Unfortunately, a relatively small percentage of bloggers ever see significant results. If you’re looking to get more out of social media it’s important to know what’s holding you back so that you can fix it.
1. Lack of a Network
A strong network can help you with just about any aspect of blogging, and social media marketing is no different. There are a few specific ways that your network can help you to get some exposure through social media. First, members of your network are more likely than others to vote for your posts.
2. Lack of a Plan
Social Media Marketing is like any other type of marketing, it requires strategy and execution. If your current plan only involves submitting your posts and hoping that they get a bunch of votes, that’s not much of a plan.
Your social media plan should be defined by what you want to accomplish. The most obvious benefit of social media marketing is traffic, but the traffic means very little if it doesn’t convert into something. Otherwise, you’ll be left with some impressive stats for a few days, but nothing of real value to show for it.
3. Lack of an Audience
If no one sees your content, no one will be able to vote for it. I mentioned earlier how building a network can help you to build a larger audience that will be willing to vote for you content. I’m sure you’ve noticed that most of the submissions that reach the front page of Digg are from major sites (like TechCrunch, Gizmodo, Smashing Magazine, etc.).
4. Poor Content
One of the obvious reasons for not succeeding with social media is the content itself. I know when I started using social media I submitted a few things that completely did not fit with the audience. Not everything will draw attention from social media users. The content not only needs to be of high quality, but it also needs to be something that will appeal to these users.
5. Forcing Content
As I mentioned in the previous point, not all content will work with social media. If you’re trying to force the content, you’re unlikely to get results. I use a few niche social media sites for web design and development, and every now and then I’ll come across submissions that are completely out of place. None of these submissions will ever make it to the front page and they’ll never get any type of exposure. It’s simply a waste of time for the person submitting the content.
6. Lack of Focus
While your social media plan is important (point number 2), it’s also critical that you stay focused on your plan. Over the course of time it’s easy to get distracted by the numbers involved with social media and forget about what’s really most important to you.
7. Poor Timing
Timing is often overlooked by bloggers that are targeting social media traffic. Most of us learned quickly that blog traffic in general is lower on weekends, and that also applies to social media sites. So if your submission is featured on the front page of a social media site over the weekend you will get less exposure and less traffic than you would if this happened during the work week. On the other hand, less bloggers are targeting social media on the weekend, so getting to the front page might be a little easier.
8. Submitted by the Wrong Person
Many social media sites will make it easier or harder for a submission to have success based on the profile of the user that submits the item. If this is the case, your chances for success will be greatly improved if you can get a user with a strong profile to submit your post. You may have friends with strong profiles, or you may have one yourself. If you’re targeting Digg you’ll probably want to have someone specific submit your best posts, otherwise you’ll be taking a big risk if someone with a very weak profile submits a post that you were hoping to get to the front page.
9. Ineffective Titles
Standing out at a social media site is pretty difficult because there is so much content competing for the attention of users. The strength of your title will have a big influence on how many people click-through and how many people vote for you.
9 Barriers to Success with Social Media [Blogtrepreneur]
Posted by Marcel Sim under Customer Service,
August 12, 2008

Article by Ronald Lang, the CEO of Majestic Consulting Group. He offers readers simple recommendations for leveraging your CRM system to maximize your client base. His insights help both product and service-based organizations discover new revenue opportunities.
A critical part of building your CRM strategic plan should be an effective “Customer Profile” to identify up-sell and cross-sell opportunities. While new customers come at an extreme premium today with longer sales cycles, existing clients would be more receptive to hear your offerings, especially if it can be a positive impact to their business. Take the following three recommendations if your business is primarily a product-based sales operation:
1. Are there products you have sold to a client in the last three years that have new accessories or a new model (or discontinuation of the current model)? – if so, this is a golden opportunity to setup a presentation with the client.
2. Do you have service-level agreements (SLA) with your clients? This is an opportunity for you to strengthen your relationships with your client prior to the SLA’s coming due. Reinforce your support commitment, response time and quality assurance. The SLA coverage information should be tracked in your CRM system.
3. Do you have your clients organizations mapped out? Meaning, if you have done well selling into one or more areas of the organization, it is time to map out the rest of the organization and key contacts with each department or division. Connect with each of them and/or get referrals and introductions from the current contacts you are doing business with above general satisfaction levels. Your CRM system should be able to track hierarchy and organization charts of your clientele.
Take the following three recommendations if your business is primarily a service-based sales operation:
1. Have you done a customer survey lately of how satisfied your clients are with your services? If not, put together a 4-7 question survey that should take more than 5 minutes to complete. The questions should focus on the quality of service you are providing. You might want to ask about other services they may require. Track this in their CRM customer profile and target a campaign around their needs. If the client is not happy, make a call with your manager or CEO to the client within 24-48 hours.
2. Are your customers using competitive services along with yours? If so, find out how happy they are with them and see if there is an opportunity to win that business. If they have a contract, find out when it expires and track that with a reminder. Also have an automated report sent to you when expiring competitive contracts the first week of every month. This is a strategy to win more business without trying to pitch your services on a frequent basis.
3. If you offer services that your clients use frequently (i.e. weekly, monthly, etc.) look to offer them a services agreement for a year at a discounted rate. This will provide you predictability and consistency over the next 12 months. If the client calls frequently now, a schedule can be constructed or a block of time can be pre-purchased as part of this annual agreement. This will also help with resource planning. The CRM system can track this contract, hours against it on a monthly basis and most importantly profitability.
These are just a few simple recommendations to leverage your CRM system to maximize your client base.
Contact Info: Ronald Lang, CEO – Majestic Consulting Group, Inc. – rlang@majestictechnology.com – (888)403-9400
Today we’re going to talk about something a little more unusual!
No, we won’t be talking about crop circles. However, we are going to talk about a phenomenon that is just as rare but also just as impressive, and most definitely not a hoax:
Female speakers.
Many top public speakers seem to be male – and indeed, they are. If there are any feminists in the audience, hold the rotten eggs – I’m not saying that there aren’t any top female speakers, but it could also be because there are still less women than men in top positions of power or leadership, although the gap is closing.
But never fear: here are a few good examples of good female speakers – a politician, an academic, and a professional speaker. We’ll take a look three main things that each of them got right and what you as speakers (men too!) can emulate.
Hillary Clinton
She was in the running to be the President of the United States. Even now, she’s a potent force in US politics. Here’s a clip from her Texas debate with Obama.
Appearance:
She’s gotten a lot of flak over her appearance – heckled by journalists asking who does her hair, people whining that her pantsuits were too masculine, etc. But that’s because she’s a politician on the campaign trail, and anything is open to fire.
If you aren’t a politician, she’s actually a pretty good role model for how to dress to impress. I like this outfit – a black jacket but with a touch of color at the collar and the hems of her sleeves, which is professional without being too boring or severe.
Also, bling distracts your audience. So if you accessorize, be simple, like that plain gold band around her neck. Large, dangling earrings are the biggest culprits.
Use of anecdote:
Her story about the center for wounded soldiers is definitely a good use of anecdote. It plays to her audience’s nationalist sympathies while demonstrating her humility. Besides that, it gets in a good dig at her opponent when she says that she and McCain were invited as the ‘only two elected officials’.
Emotive language:
Most politicians do it, but I think she managed it particularly well here. Certainly well enough for her audience to give her a standing ovation. Her appeal to the concepts of ‘family and friends’ and her hope that every American person can have that are very personal in her context (‘I did not have sexual relations with that woman’, anyone?) and are brought across without sounding too rehearsed.
Helen Fisher
This lady isn’t quite as well known, so, a quick rundown: she’s an anthropologist who specializes in love: on the study of the sociological and scientific processes of love. An academic at Rutgers University, she is widely considered the leading expert on the topic.
Here, she delivers an intriguing 20-minute lecture on the effects of love on the brain, and weighs in on the social trends of women in the workforce and the aging population. And her public speaking style certainly doesn’t hurt her already interesting topic.
Appearance:
She fits the academic image perfectly. The black-framed glasses give her a scholarly air, and the black turtleneck and pants are relaxed without being too casual. Black adds a degree of seriousness, so while she isn’t intimidating, she doesn’t look intimidated either.
Tone:
Her speaking style suits the presentation well – it’s informative, but her variations in tone keep it from being dry.
She maintains a basic casual air throughout the whole presentation and inserts some droll moments of humor through tone of voice. For instance, she dryly quotes George Bernard Shaw, who said that love was overestimating the difference between one woman and another, garnering a delighted laugh from her audience.
These are examples of humor that is not rip-roaring laughter but is equally effective at keeping your presentation lighthearted and engaging. They are well balanced with moments when she is entirely serious, such as when she describes love not as a series of emotions but as a drive in certain centers of the brain.
Voice:
Women’s voices are naturally pitched higher than men’s are. Which means that if a woman’s speaks fast, it’s more difficult to hear her than if a man speaks faster. Also, higher voices have a higher chance of sounding shrill. So be careful.
Fisher has a good alto speaking voice – well-modulated and pleasant to listen to. Besides this, she keeps it firm and enunciates her words clearly and slowly, which will help a great deal in speech clarity.
Patricia Fripp
As an award-winning, internationally renowned speaker and speech coach, Patricia Fripp has been in the business of public speaking for several decades now. This clip is from her keynote address at Toastmaster’s International.
Energy level:
Fripp starts talking the moment she walks out of the wings, without waiting to get to centerstage. It shows how much enthusiasm she has, and it surprises the audience and energizes them too, because energy is infectious.
Besides that, she moves around when she talks, utilizing the whole stage rather than simply standing in one spot. Movement also ensures that the audience’s eyes are following you rather than fixed on one point, which again helps keep them awake.
Gesture:
Fripp uses a whole range of gestures to punctuate her words and gestures. Throughout the speech, she is never still, but neither is she too theatrical. Rather, simple hand movements (such as the forceful side-to-side movement to emphasize the words ‘do not’) make her point best.
Because she’s constantly on the move, the gestures are natural. If you spend most of your time speaking and only make isolated moves every so often, you risk the gesture look stiff and rehearsed, especially if you’re nervous.
That being said, do not fidget. If you want to be constantly moving, as Fripp does, make sure each movement is intentional.
Structure:
Fripp herself mentions this: structure and content are absolutely essential to public speaking. The lack of a structure means that you’re not sure what you want to say, and if you’re not sure what message you’re sending out, there’s no chance that your audience is going to get it.
Fripp’s structure:
Introduction -> three main points: structure, content, style -> elaborate on each -> conclude
It’s foolproof, and definitely worth sticking to if you’re not sure of yourself.
*
There are plenty of challenges that are specific to women, and even with the general concerns, women may have to interpret some aspects in a very specific manner. If you want more tips specific to women, here’s a possible resource:
The Woman’s Public Speaking Handbook (Paperback), by y Elizabeth J. Natalle (Author), Fritzi R. Bodenheimer (Author)
Eric Feng is the go-to guy if you want to learn how to impress your investors and customers through public speaking. For more tips and tactics that you can use immediately in your next presentation, visit The Public Speaking Blog.
Posted by Marcel Sim under Franchise,
August 10, 2008
Article contributed by Don Daszkowski

When considering life as an entrepreneur, it is important to understand the definitions of a franchise, business opportunity and a start-up business. There are, of course, advantages and disadvantages to each style of business. In this article we will discuss the advantages and disadvantages of owning a franchise.
FRANCHISE:
A franchise is a right granted to an individual or group to market a company's goods or services within a certain territory or location. The franchisor (the company owner) sells the rights to the franchisee and then typically receives a fee for ongoing support, therefore having a vested interest in the success of each franchise.
Franchising began back in the 1850's when Isaac Singer invented the sewing machine. In order to distribute his machines outside of his geographical area, and also provide training to customers on the use of the machines, Singer began selling licenses to entrepreneurs in different parts of the country. Today many such franchise opportunities are advertised via the Web and other media. Examples of franchises include Carvel, Tutoring Club and Liberty Tax Service.
Advantages:
* There is a higher likelihood of success since a proven business formula is in place. The products, services, and business operations have already been established.
* Bankers usually look at successful franchise chains as having a lower risk of repayment default and are more likely to loan money based on that premise.
* The corporate image and brand awareness is already recognized. Consumers are generally more comfortable purchasing items they are familiar with and working with companies they know and trust.
* Franchise companies usually provide extensive training and support to their franchisees in effort to help them succeed.
* Many times products and services are advertised at a local and national level by the main franchise companies. This practice helps boost sales for all franchisees, but individual franchisees don't absorb the cost.
Disadvantages:
* Franchises can be costly to implement. Also, many franchises charge ongoing royalties cutting into the profits of franchisees.
* Franchisors usually require franchisees to follow their operations manual to a tee in order to ensure consistency. This limits any creativity on the part of the franchisee.
* Franchisees must be very good at following directions in order to maintain the image and level of service already established. If the franchisee is not capable of running a quality business or does not have proper funding, this could curtail success.
Sometimes franchisors may be lax on their commitment to support the franchisee. Also, they may make poor decisions that would have an ill effect on the franchisee. Therefore, it is important to research any franchise concept thoroughly before signing any agreements.
It is suggested you contact a franchise consultant to discuss if franchising is right for you. You can visit FranchiseBuyersNetwork.com and click on the Franchise Consulting link to have a local franchise consultant contact you for a phone interview.
About the Author
Don Daszkowski is President and CEO of BusinessMart.com. BusinessMart.com has thousands of businesses for sale, franchises and small business articles. Don is also About.com's Guide to Franchises. About.com is a New York Times Company.

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