Higher education not a factor in micro-business success</h1> <article> <h1>Higher education not a factor in micro-business success</h1> <p>Doctor Strategy — Sun, 21 Sep 2008 15:31:53 GMT</p> <p>A recent study by Dr. Dan Geller (2007) found no correlation between the educational level of micro-business owners and the practice of strategic planning in their companies. Dr. Geller studied 228 micro companies in Northern California and found that 163 respondents (70.56 percent) hold bachelor’s, master’s, or post-graduate degrees; yet there was no correlation (r = -0.0370; p = 0.5723) between the educational level of the micro-business owner and the practice of strategic planning in the company. In other words, incidence of strategic planning did not go up with higher education.</p> <p>Based on previous scientific studies, which established correlation between the practice of strategic planning and micro-business success, and Dr. Geller’s study, which found no correlation between the educational level of micro-business owners and the practice of strategic planning, the conclusion is clear – higher education is not a factor in micro-business success.</p> <p>Dr. Geller’s findings raise a question. Why would highly educated business owners, who have the knowledge and who understand the importance of planning in business, not practice such activity?</p> <p>One reason is that micro-business owners lack the time to do so. Since traditional strategic planning methodologies were designed for very large companies, they are complex and time consuming. To help micro-business owners practice strategic planning, even though they have very limited time and resources, Dr. Geller developed the Instant Strategistâ methodology, which allows one to develop a valid and practical strategic plan in less than eight hours. “Clearly,” says Dr. Geller, “even a busy business owner can afford that.”</p> <p>Dr. Dan Geller is the President of Instant Strategistâ (www.instantstrategist.com), a strategy-research company established in 1998 in San Rafael, CA, to help micro businesses succeed through the practice of quick and easy strategic planning. The company offers a range of planning tools, including a book, software, audio and video CD’s, to help busy micro-business owners plan their way to success. For more information go to www.instantstrategist.com, e-mail info@instantstrategist.com, or call toll free at 866-343-5537.</p><div style="clear:both;"></div> </article> <article> <h1>Free Business-Strategy Advice to Small Companies</h1> <p>Doctor Strategy — Sun, 21 Sep 2008 16:33:58 GMT</p> <p>Doctor Strategy (<a href="http://www.doctorstrategy.com/">www.doctorstrategy.com/</a>) is a new interactive website that is helping people who are starting a new business or have an existing business to obtain free business-strategy advice from Dr. Dan Geller – a leading expert and researcher in the field of strategy planning.</p> <p>Anyone with a business-strategy question may enter the question on the website and receive an email with a personalized response from Dr. Geller. The questions and the answers are also posted to the website, where they become part of a knowledge base for viewing by others.</p> <p>The knowledge base already contains many questions and answers from people across the US and around the world. The knowledge base is arranged according to the three “Building Blocks” (Vision, Mission and Action) of the Instant Strategist methodology, which was designed by Dr. Geller to help small businesses develop quick and easy strategy plans.</p> <p>Dr. Geller developed the Doctor Strategy (www.doctorstrategy.com) website as a free service to entrepreneurs, start-ups and small-business owners after his scientific research revealed that 89 percent of small businesses do not engage in strategic planning.</p> <p>Dr. Geller’s study provides a critical connection between lack of strategic planning and the grim reality of small business failure in the U.S. According to a 2006 report by the US Small Business Administration, 580,400 of the 671,800 businesses that started that year failed, a failure rate of about 87 percent. </p> <p>One major reason small businesses do not engage in strategic planning is lack of time to devote to planning, especially since traditional strategic planning methodologies, which were designed for very large companies, are complex and time consuming. To help small-business owners practice strategic planning, even though they have very limited time and resources, Dr. Geller developed the Instant Strategist (<a href="http://www.instantstrategist.com/">www.instantstrategist.com/</a>) methodology, which allows one to develop a valid and practical strategic plan in less than eight hours.</p> <p>Dr. Dan Geller is a renowned expert on strategic planning for small companies. His research, publications, and planning tools have helped tens of thousands of entrepreneurs and small-business owners fulfill their dreams of establishing and growing a successful business.</p><div style="clear:both;"></div> </article> <article> <h1>Company size linked to business success</h1> <p>Doctor Strategy — Sun, 21 Sep 2008 15:27:32 GMT</p> <p>A new scientific study conducted in Northern California found the missing link between a company’s size and its financial performance and sustainability.The study by Dr. Dan Geller (2007) found that micro companies — which include startups, entrepreneurs and businesses with 25 or fewer employees — are about half as likely to be engaged in formalized strategic planning as larger companies with up to 500 employees.</p> <p>Dr. Geller’s study provides a critical connection between numerous scientific studies on the correlation between formalized planning and business success, and the grim reality of small business failure in the U.S. For example, a 1997 study by Berman, Gordon, and Sussman concluded that the practice of formalized planning increases companies’ financial performance and longevity. According to a 2006 report by the US Small Business Administration, 580,400 of the 671,800 businesses that started that year failed, a failure rate of about 87 percent.</p> <p>Dr. Geller’s study, which surveyed 228 micro businesses in Northern California, found that only 11.4 percent of the surveyed companies reported having a formal strategic planning process in their organization. These findings are significant because they reveal that micro companies have a lower rate of formalized strategic planning (11.40 percent) than larger small-businesses, which according to previous research (Gibson 2002) have a 20 percent incidence of formalized strategic planning.</p> <p>“The key to increasing the probability of business success and longevity is so simple that one wonders why those that need it the most — micro businesses — don’t embrace formalized strategic planning”, says Dr. Geller. Every entrepreneurs and family businesses should have a simple, short (10 to 15 pages) strategic plan.</p> <p>One of the main reasons micro companies are less likely to practice formalized strategic planning is that they lack the time and resources to do so, whereas larger companies may have dedicated staff to help with the planning process. To help micro businesses practice formalized planning, even though they have very limited time and resources, Dr. Geller developed the Instant Strategistâ methodology, which allows one to develop a valid and practical strategic plan in less than eight hours. “Clearly,” says Dr. Geller, “even a busy entrepreneur can afford that.”</p> <p>Dr. Dan Geller is the President of Instant Strategistâ (www.instantstrategist.com); a research company devoted to helping micro businesses succeed through the practice of quick and easy strategic planning. The company offers a range of planning tools, such as a book, software, audio and video CD’s, to help busy entrepreneurs and micro-business owners plan their way to success.</p> <p>Instant Strategistâ was established in 1998 in San Rafael, CA, and has helped thousands of small businesses develop quick and easy strategic plans. For more information go to www.instantstrategist.com, e-mail info@instantstrategist.com, or call toll free at 866-343-5537.</p><div style="clear:both;"></div> </article> <article> <h1>Business success linked to ownership type – new study finds</h1> <p>Doctor Strategy — Sun, 21 Sep 2008 15:08:13 GMT</p> <p>A new study of micro-businesses in Northern California found that family businesses are less likely to achieve their financial goals — and less likely to stay in business — because they are less likely to engage in strategic planning. </p> <p>The study, by Dr. Dan Geller, found that only 10 percent of family-owned businesses have a strategic plan compared to a 53 percent incidence of strategic planning among non-family-owned businesses. The Geller study, which was conducted through TUI University (<a href="http://www.tuiu.edu/">www.tuiu.edu</a>), included 228 micro businesses with 25 employees or less. Of those, 164 were family-owned businesses, and 64 businesses were non-family-owned. Among the 164 family-owned businesses, only 16 (10 percent) reported having a strategic plan, whereas among the 64 non-family-owned businesses, 34 (53 percent) reported having a strategic plan.</p> <p>Dr. Geller’s study found a correlation coefficient of 0.2523 and a high significance level with alpha < 0.01 between the type of business ownership and incidence of strategic planning. Adding this information to previous studies, which established significant correlation between the practice of strategic planning and business success, it is evident that family-owned businesses have a lesser probability of success than businesses with other forms of ownership.</p> <p>One major reason owners of family business do not engage in strategic planning is a lack of time to devote to planning, especially since traditional strategic planning methodologies, which were designed for very large companies, are complex and time consuming. To help owners of family businesses practice strategic planning, even though they have very limited time and resources, Dr. Geller developed the Instant Strategist (<a href="http://www.instantstrategist.com/">www.instantstrategist.com</a>) methodology, which allows one to develop a valid and practical strategic plan in less than eight hours. “Clearly,” says Dr. Geller, “even a busy family-business owner can afford that.”</p> <p>Dr. Dan Geller is the president of Instant Strategist â, a strategy-research company established in 1998 in San Rafael, CA, to help micro businesses succeed through the practice of quick and easy strategic planning. The company offers a range of planning tools, including a book, software, audio and video CD’s, to help busy micro-business owners plan their way to success. For more information go to <a href="http://www.instantstrategist.com/">www.instantstrategist.com</a>, e-mail <a href="mailto:info@instantstrategist.com">info@instantstrategist.com</a></p> <p>Or call toll free at 866-343-5537.</p><div style="clear:both;"></div> </article> <article> <h1>Steps to Publishing Success - A Guide for Getting Published</h1> <p>MySolutionSpot Editor — Wed, 20 Aug 2008 14:49:39 GMT</p> <p>Even if your best friend owns a top publishing company, giving you an immediate "in," this does not guarantee publishing success.<br /><br />First, you have to write a quality book that has a clear target audience. And your book must answer a common problem or need that audience shares. Then you have to develop a marketing plan, and stick to it for at least two years.<br /><br />Let's begin with the process that should commence before you write your first word. Begin by reading A LOT. Read both books you passionately love and books you can't seem to make it past page five. Then figure out what the author did in the book you loved, and what was wrong with in the book you couldn't finish. Write down these points so they are crystal clear to you. Read other people's books for inspiration and to discover what you should avoid as a writer.<br /><br />The next step is to plan out your book. Narrow down your subject, and then divide it into chapters. Each chapter should address a specific aspect of the problem your book is going to solve. In each chapter, break the specific aspect down into several parts. This will help your readers take in your information a bit at a time instead of overwhelming them with every bit of information clogging up the pages until they feel like they're about to go blind. It's not quite spoon-feeding the information to your readers, but its close.<br /><br />The next two steps are obvious. Write your book and then revise it. And then revise it again. (And perhaps again.) Of course, writing is extremely hard, and writing a book can seem like an impossible task. There are many books out there that give you guidelines to help you become familiar - and even love - the process of writing and revision. Find a number of books about writing. Better yet, find a number of books about writing the specific type of book you aspire to write. These can serve as roadmaps on your writing journey.<br /><br />Once you've written your e-book and revised it at least twice, show it to someone else whose opinion you respect. If you're lucky enough to know a good editor, see if you have something to barter for him or her to go through your manuscript. Or join a writing group and let the other members critique your work.<br /><br />Then take all these ideas from other people, and revise your manuscript one last time. And then stop! Put down that pen! Get your hands off the keyboard! One of the most important steps to actually producing a book is to know when to stop writing and tinkering with it.<br /><br />You've finally written your e-book! Pop open the bubbly! Give yourself a night out on the town! Okay, now that this necessary celebration is out of your system, what do you do next?<br /><br /><b>How to turn your e-book into Profits</b><br /><br />E-books are a revolutionary way to publish your book without incurring the costs of print production. All you need is a relevant and targeted subject and some inexpensive software, and you can transform your manuscript into a book.<br /><br />The problem, in terms of actually seeing any profits from your e-book, is that the market is overwhelmed with e-books, and many of them are not worth the time it takes to download them. Just because the ability exists to easily produce an e-book, doesn't mean that every one is of high quality.<br /><br />Make sure your book does not simply rehash old material. You will injure your credibility as an author by claiming to offer valuable new insights and disappointing your audience with material they've read a zillion times before. So spend enough time writing and revising your book to make sure it's of the highest quality and presents the most current information. A good book will eventually sell itself; false claims about your book will make it extremely difficult to sell any future books you may write.<br /><br />Assuming you have determined that you do indeed have a quality product that answers some question or need of your target audience with NEW information, how do you know how much to charge for it? Rule number 1: Set a price for your book equal to its value. An under-priced book will only give the impression that your book isn't worth very much.<br /><br />To figure out a fair price, estimate how much time you put into creating it and how difficult it was to transform the necessary information into understandable and engaging writing. Figure out how much your time and effort is worth, and then price it accordingly. The goal is for you to be adequately compensated for your talent, your time, and your effort.<br /><br />Once you've figured out a price that is high enough to convey the value of the book, but not so high as to be out of the reach of your target audience's mean budget, then it's time to offer it for sale on your website. To attract sales, you will need to develop a promotional campaign, particularly if you are an unknown author.<br /><br />There are multitudes of books about self-promotion that will guide you in your efforts. Choose a plan that is both creative and professional. Learn how to write a catchy yet informative press release, and send copies of your e-book to sites that specialize in e-book reviews.<br /><br />Learn how to write powerful sales copy, or hire someone to write it for you. This is an essential. You absolutely need excellent sales copy to sell your book. Make sure the copy includes all the reasons your target audience needs your book, and the benefits they will derive from buying it.<br /><br />Use graphics in your promotional materials. Beautiful graphics have the power to instantly convey the quality and value of your e-book. Graphics can also convey the amount of valuable information the book contains, and your careful attention to detail. Professional graphics sell professional books. They reassure the customer that the product is what it claims to be.<br /><br />Consider excerpting chapters for articles. You can offer these tidbits for free on your website as a sort of demo of your book. Include an order form for your e-book at the end of the excerpted articles.<br /><br />Finally, when you set-up your download link, make sure to simplify the process. It's a good idea to offer a few bonuses that make your book even more enticing to purchase, but make sure the bonuses are valuable and high quality. Too many bonuses that are basically a load of useless stuff will compromise the impression your audience has of your e-book. The goal is to convey to your audience that they are getting a quality product for a good deal. That means applying restraint, especially when it comes to adding bonus items. Too much free stuff offered diminishes your credibility.<br /><br />Make sure your book is a quality product. Make sure it is relevant and current. Develop an effective marketing plan that includes excellent sales copy and excerpted articles. Then offer your book for sale, and wait for your audience to discover you!</p><div style="clear:both;"></div> </article> <article> <h1>Tips for Success When Starting a Family Business</h1> <p>MySolutionSpot Editor — Mon, 18 Aug 2008 14:20:15 GMT</p> <p>If the idea of working with your family and running a small business is appealing there is no better solution than creating a family-operated small business. Combining family and business can be extremely successful, and the effort and challenges can lead to strong families. </p> <p>Some of the advantages of going into business with family members include a thorough understanding of each other's strengths and weaknesses, sharing a core set of beliefs, and controlling your own family's destiny. "When the idea of starting my own business came up and I went looking for a partner, I went for the best guy I could find—my brother," says Coast Real Estate CEO Tom Hoban. "The ability to trust each other implicitly and the shared values of caring for our employees and customers that is an unspoken reality is really a powerful competitive advantage for us." </p> <p>However, running a family business does present a special set of challenges. As with any business, each business partner's roles should be clearly defined. This is even more important in a family business as disagreements and conflict at work can spill over and cause tension at home. Disagreements about the direction the business should take and other problems can quickly become personal. </p> <p>A family business can also impede on family time, which makes it important to establish clear boundaries between when it is acceptable to be working and when it is time to spend time with the family. A good solution is establish a "no shop talk" rule that applies during certain hours or when the entire family is participating in activities. The key thing to remember is that your family may not always be in business together, but you will always be a family.</p> <p><b>"Tips for Success When Starting a Family Business"</b></p> <p><i>Daily Herald (UT) (07/21/08) Sisneros, Pat; Munoz, Lynne </i></p><div style="clear:both;"></div> </article> <article> <h1>The Basics of a Small Business Marketing Plan</h1> <p>MySolutionSpot Editor — Mon, 18 Aug 2008 14:07:58 GMT</p> <p>One of the first objectives a new small business needs to accomplish is establishing a marketing plan. A strong marketing plan contains a core message, a good, recognizable logo and brand, a Web site, business signatures such as business cards and fliers, and public exposure. </p> <p>First, determine a core message that will influence all aspects of your marketing campaign. The message can be about a new product or service, a redesign of the business or older products, or better customer service. </p> <p>Part of knowing your core message is knowing your audience. Who they are, where they live, how much they make, and how willing they are to buy your product are factors that must be considered. Explain to them why they need your product and structure your message so that it serves their needs. </p> <p>Next, create a strong, <a target="_blank" href="http://www.networksolutions.com/custom-logo-design/index.jsp;jsessionid=d61f52e166d774ffffffffa0773093ae2a758:KCNW">memorable logo</a> and brand. The logo represents your business and its personality in a glance so when people see it they know what your are and will remember your business. The brand represents your business as a whole, including your logo, advertising campaign, and product. </p> <p>All businesses need a Web site, if only to provide Internet users with some basic information about the business, its location, operating hours, and a few product details. Explain who you are as a business, what your business does, and how your business can help your customers. Add more functionality to your Web site as your business grows. </p> <p>Print out business cards that include your Web site address to increase Web traffic and give your business a level of respectability. Hand out business cards to everyone you know and to potential business partners or clients. </p> <p>Finally, gain some exposure. Contact local media, as many newspapers and local magazines like to run stories about new businesses. Advertise in local media and post flyers in the community.</p> <p><b>"The Basics of a Small Business Marketing Plan"</b><i></i></p> <p><i>SmartBiz.com (07/11/08) Smith, Charen </i></p><div style="clear:both;"></div> </article> <article> <h1>You Can Make BiG Money In Your Own Home Based Mail Order Business! Guru Reveals Inside Secrets to his Success.</h1> <p>MySolutionSpot Editor — Sat, 12 Jul 2008 03:39:40 GMT</p> <p class="MsoNormal" style="><span style="font-family:Arial;">Almost a hundred years ago Richard Sears and Julius Rosenwald got together </span><span style="font-family:Arial;">to build Sears, Roebuck and Company into what would eventually became a $10 </span><span style="font-family:Arial;">billion corporation. Meanwhile Aaron Montgomery Ward started his own </span><span style="font-family:Arial;">company, which would become a multimillion dollar operation. These three </span><span style="font-family:Arial;">entrepreneurs became the world's first mail order millionaires.</span></p> <p class="MsoNormal" style="><span style="font-family:Arial;">Since that time, countless part-time and full-time entrepreneurs have been </span><span style="font-family:Arial;">attracted to the mail order business. Many have failed. However, a </span><span style="font-family:Arial;">surprising number of businesses have succeeded in both good times and bad.</span></p> <p class="MsoNormal" style="><span style="font-family:Arial;"></span></p> <p class="MsoNormal" style="><span style="font-family:Arial;">Today, you can buy everything from clothes to insurance to live lobsters </span><span style="font-family:Arial;">from Maine, all through the mail.</span></p> <p class="MsoNormal" style="><span style="font-family:Arial;"><b>What Qualities are Required?</b></span></p> <p class="MsoNormal" style="><span style="font-family:Arial;">For marketing wizards, mail order can be highly profitable. Melvin Powers, </span><span style="font-family:Arial;">a famous mail order publisher, started with a single book. Today, he has </span><span style="font-family:Arial;">more than 400 books in print and has sold millions of copies. Another </span><span style="font-family:Arial;">marketing genius, Richard Thalheimer, built a multimillion dollar company,</span></p> <p class="MsoNormal" style="><span style="font-family:Arial;">The Sharper Image, starting with a chronograph watch and an ad in Runner's </span><span style="font-family:Arial;">World. He now sells not only by mail but also through major retail outlets </span><span style="font-family:Arial;">across the country. Although everyone cannot expect to achieve the same </span><span style="font-family:Arial;">level of success as these exceptional entrepreneurs, your chances for </span><span style="font-family:Arial;">building a profitable mail order business are increased if you possess the </span><span style="font-family:Arial;">following essential qualities: imagination, persistence, honesty, and </span><span style="font-family:Arial;">knowledge.</span></p> <p class="MsoNormal" style="><span style="font-family:Arial;">Imagination. Imagination is needed to visualize the special appeal that </span><span style="font-family:Arial;">will compel a potential customer to buy your product. One mail order expert </span><span style="font-family:Arial;">with imagination is Joe Cossman. In his book How I Made $1 Million in Mail </span><span style="font-family:Arial;">Order, Cossman described how someone once brought an unsuccessful mail </span><span style="font-family:Arial;">order product to him with an offer to sell the rights. The product </span><span style="font-family:Arial;">consisted of earrings with little bells attached. </span></p> <p class="MsoNormal" style="><span style="font-family:Arial;">Cossman managed to turn </span><span style="font-family:Arial;">this mail order loser into a mail order winner simply by renaming the </span><span style="font-family:Arial;">product "mother-in-law earrings" and selling them to newlyweds.</span></p> <p class="MsoNormal" style="><span style="font-family:Arial;"><b>Persistence.</b> Persistence is required because success is rarely instantaneous. There are always obstacles and setbacks. Cossman struggled </span><span style="font-family:Arial;">over a year before making his first success. While holding down a full-time </span><span style="font-family:Arial;">job, he worked at his kitchen table, tackling false leads, problems, and </span><span style="font-family:Arial;">failures. He did nothing but lose money. Less persistent entrepreneurs </span><span style="font-family:Arial;">would have quit much sooner. But when he finally was successful, his first </span><span style="font-family:Arial;">product made him $30,000 in less than one month.</span></p> <p class="MsoNormal" style="><span style="font-family:Arial;"><b>Honesty.</b> Absolute honesty is necessary because a successful mail order </span><span style="font-family:Arial;">business is built on trust, satisfied customers, and repeat sales. Cheat </span><span style="font-family:Arial;">your customers even a little, and you've lost them forever. Without repeat </span><span style="font-family:Arial;">customers, you might just as well invest your money in a dry oil well. </span><span style="font-family:Arial;">The </span><span style="font-family:Arial;">potential for a successful enterprise is gone.</span></p> <p class="MsoNormal" style="><span style="font-family:Arial;">In addition, Federal, state, and local government agencies, as well as the </span><span style="font-family:Arial;">Better Business Bureaus and consumer groups constantly watch advertising </span><span style="font-family:Arial;">and are quick to take action against unsubstantiated claims or infractions </span><span style="font-family:Arial;">of any laws.</span></p> <p class="MsoNormal" style="><span style="font-family:Arial;"><b>Knowledge</b>. Without knowledge--the how-to's and the why's--your chances for </span><span style="font-family:Arial;">success are small. Success stories like Ward's, Sears', and Cossmam's, are </span><span style="font-family:Arial;">built around that individual's constant search for knowledge--knowledge </span><span style="font-family:Arial;">that answers two critically important questions:--What works? What doesn't?</span></p> <p class="MsoNormal" style="><span style="font-family:Arial;">You must continue increasing your knowledge if you are to succeed. You can </span><span style="font-family:Arial;">increase it through both reading and experience. Experience is valuable, </span><span style="font-family:Arial;">but it is also the most expensive way to learn. Because you can save time and money through the experiences of others, extensive reading is highly </span><span style="font-family:Arial;">recommended. Joe Cossman says that he spends at least one full day a month </span><span style="font-family:Arial;">at the public library.</span></p> <p class="MsoNormal" style="><span style="font-family:Arial;">You can also learn from successful competitors. Make a thorough study of </span><span style="font-family:Arial;">magazines and newspapers, and review the ads appearing there over a period </span><span style="font-family:Arial;">of time. Note ads that run consistently month after month or several times a year. Answer ads that are particularly interesting. </span></p> <p class="MsoNormal" style="><span style="font-family:Arial;">Careful study the </span><span style="font-family:Arial;">catalogs, sales letters, brochures, and sales literature received. </span></p> <p class="MsoNormal" style="><span style="font-family:Arial;"><b>Study </b></span><span style="font-family:Arial;">particularly all follow-up mailings. You should know what the competition </span><span style="font-family:Arial;">is doing.</span></p> <p class="MsoNormal" style="><span style="font-family:Arial;"> </span></p> <p class="MsoNormal" style="><span style="font-family:Arial;"><b>Product Selection to be continued...</b></span></p> <p class="MsoNormal" style="><span style="font-family:Tahoma;">Mail Order Successes By Mr. Malik S. Muhammad</span></p> <p class="MsoNormal" style="><span style="font-family:Arial;"><b></b></span></p> <p class="MsoNormal" style="><span style="font-family:Arial;"><b>Malik S. M. </b></span></p> <p class="MsoNormal" style="><span style="font-family:Arial;"><b></b></span></p> <p class="MsoNormal" style="><span style="font-family:Arial;"><b>President/CEO</b></span></p> <p class="MsoNormal" style="><span style="font-family:Arial;"><b>Dueforself Inc.</b></span></p> <p class="MsoNormal" style="><span style="font-family:Arial;"><b></b></span></p> <p class="MsoNormal" style="><span style="font-family:Arial;"><b><a href="http://www.mailorderblueprints.com">www.mailorderblueprints.com</a> </b></span></p> <p class="MsoNormal" style="><span style="font-family:Arial;"> </span></p> </article> <article> <h1>Franchising. Is There Something Better?</h1> <p>MySolutionSpot Editor — Sat, 12 Jul 2008 03:39:38 GMT</p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;">Just as network marketing or multi-level marketing is the "new" business model, so franchising took the world by storm in the fifties and sixties. In fact it was even outlawed in some countries, would you believe. </span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;"> </span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;">It is, of course, a traditional business simply backed and sometimes even controlled by a parent company that in most cases offers advertising support (not always, be careful) and a business plan that should include a daily schedule or process of operation that works successfully elsewhere. This is perhaps the only advantage. If you're store number 120, you want to know that of the other 119, even if 5 have failed, the other 114 are successful, and why. You should have the parent company not only show you why, but more importantly how. </span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;"> </span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;">But, here, the advantages stop. Like any traditional business, you will still have all the disadvantages. The parent company might train your staff, but there is still the risk of them stealing and giving you daily hassles, as staff do in any business. Your parent company might have a good system for stock control, but stock will be stock and it will go missing. And then there is the issue of rent. Before the parent company will sign you on and take the bulk of your money, they want to know that you have a lease signed and ready, preferably for a number of years. They don't want to blow the trumpets about your new store only to have you close down or kicked out after a few months. A lease means being tied to someone legally for that period. Let's say you pull out, or become, sadly number 6. You owe the letting agent rent for the full period. </span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;"> </span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;">Franchises can range from as little as a few thousand dollars, but a good store will probably cost you $150 000, sometimes with stock. Let's say you have this money and believe in the product, you still have the difficulty deciding whether you want to be involved 14 hours a day, or whether you want to appoint someone else as a manager. Each option has a serious disadvantage. If you're opting out of your present employment and want something to keep you busy, and 12 hours a day is no problem, you will probably succeed. If not, then the manager option will bring its own problems, as you can imagine. Why would anyone else work as hard as you? Do you know that you can trust them? Can you walk away from the business for three months, go on vacation and find it doing better when you come back? If not, you're still in for at least a few hours a day, and then the money you dreamed of earning is now diluted by the manager's salary. If he or she is bad at their job, they'll cost you; if they're really good why should they stick around? They probably have their own plans, and your business is free university for them, while they're being paid! </span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;"> </span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;">Even a really cheap, small franchise costs money, let's say around $15 000. Why put up with all the disadvantages when you can start something from home for far less and build it up over time. There are thousands of good affiliate or network marketing businesses that can be started for far less than even $2000, and with a few hours a week, you can build it up a momentum that allows you to resign for your full-time job. </span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;"> </span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;">Try to choose one with little or no stock, as few employees as possible; preferably just you and a family member, perhaps. Make sure the product has an international flavour, that it is reasonably priced and that it is based in an industry that is growing: travel, health for instance. A few hours research on the internet will unearth many. Make sure the company has been around for some time, that the claims of the other affiliates are not too wild: watch out for pictures of sports cars, mansion and pictures of bank statements. Rather side with those that say it is going to be hard work and will cost you a little in the beginning, at least for advertising. </span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;"> </span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;">I'd rather invest $1000 in something I can build slowly without any of the disadvantages of franchising mentioned above, than part with $150 000, and on top of that a 3 year lease agreement up front, only to find these disadvantages simply overwhelm me. </span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;"> </span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;">A viable home business does work. And added to this is the usual affiliate marketing pay plan that allows for residual income. This simply means that you can get paid over and over again for work done in the past. For example when you assist someone else to join the business and they make sales, or find prospects, you earn from their efforts, for as long as they are alive and working the business. Now that's exciting. And with this, it is possible to go on vacation for three months (after building the business, of course) and come back to find your team having grown as much as your bank balance. </span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;"> </span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;">Franchising? There are some advantages. But why pay someone else for an idea when in almost all networking marketing business models, they will give it to you free? Go find one now. </span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;"> </span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;"><b> </b></span><span style="font-size:10pt;font-family:Arial;"><b>About The Author</b> </span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;"> </span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;">Michael Klerck is a writer and winner of the Mondi Paper Magazine Writer's Award for work in Men's Health. He is also an avid promoter of the best luxury resorts membership in the world today. Visit his site: http://luxuryresortsVIP.biz and see the excellent movie. </span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;"><span style="mso-spacerun:yes;"> </span></span></p> <p class="MsoNormal" style="><span style="font-size:10pt;font-family:Arial;"> Article source: <a href="http://www.articlecity.com/articles/business_and_finance/article_8980.shtml">http://www.articlecity.com/articles/business_and_finance/article_8980.shtml</a></span></p> </article> <article> <h1>Marketing Plan: Do You Really Have One?</h1> <p>MySolutionSpot Editor — Sat, 12 Jul 2008 03:39:35 GMT</p> <p>In conducting workshops, speaking and working with clients there is a great deal of confusion about marketing vs. selling. Many business owners mistake marketing with the process of going to the market to sell your service or product. As a result very few small business owners have a written marketing plan. In the competitive and crowed market place many of us operate in the lack of a plan is a recipe for FAILURE! </p> <p>So what is a marketing plan? It is a well thought out written document that is a roadmap to drive your activities that result in securing new clients. Without a pinpoint understanding of exactly what is your market, what they want and how you differentiate your company from the competition your business will get lost in the shuffle. This results in a weak prospect pipeline and inability to reach your goals. </p> <p>If you want to develop a more comprehensive marketing plan here are a few of the many questions to ask yourself: What need in the market place are we fulfilling? What need or desire is not being met by our competitors? How can we position ourselves to meet this need? Do we have a clear concise plain language message? What specific niche or target market are we going to serve? How do I identify and communicate our unique difference? How do I package my business? Do I really have a 'system" for lead generation? The answers to these questions and many others can change the entire face of your business. </p> <p>One example is in networking. The most frequent complaint is " I go to all these events and meet a lot of people but it rarely brings me any business." What can we expect, if we have not answered the questions above and have not identified our market then how can we expect potential prospects or networking partners to do that? One other significant issue is that most small businesses do not have a diversified marketing action plan to build their brand. Most of their marketing is what I call "me too" marketing which is simply copying what everyone else is doing and is not working. A solid and successful action plan can only be built after answering the key questions above. While this process can be time consuming the return on investment will be extraordinary. In summary, if you want to make a significant leap forward in your business then begin by developing a written marketing plan. </p> <p>Author: David Eissman founder of Guaranteed Growth Systems and the creator of the Growth Accelerator System - "The fuel to get you there faster "teaches business owners and independent professionals how to create a step by step lead generation and sales conversion system resulting in increased revenue and profits. For FREE content rich information on how to accelerate the growth of your business visit, http://www.GuaranteedGS.com</p> </article> <article> <h1>To Franchise or Not to Franchise</h1> <p>MySolutionSpot Editor — Sat, 12 Jul 2008 03:39:34 GMT</p> <p>Going into business is a risky proposition, and although doing so can provide excellent opportunities, rewards, and challenges, there is no absolute guarantee of success. However, franchising is one option that increases the chance of success. </p> <p>The primary advantage of franchising is that the franchisor has already proven the business model and there is often the benefit of name recognition or brand appeal. Opening a franchise also provides centralized buying power, but franchise owners are generally restricted to using only the suppliers approved by the franchisor, so if you thrive on being independent and finding your own solutions to problems, a franchise may not be for you. </p> <p>Franchising, in its simplest form, is the ownership rights of a franchisor to a name or trademark. Product and trade name franchising involves selling the rights to use a product or trade name to a franchisee. Franchises exist as services and retail businesses and startup costs can be as little as a few thousand to a few hundred thousand dollars. </p> <p>Some of the fastest growing franchises in 2008 in the United States are commercial cleaning service Jan-Pro, 7-11 convenience stores, Subway sandwich shops, Jackson Hewitt Tax Service, and Massage Envy. In May 2008, the U.S. Small Business Administration and FranNet collaborated to offer free online training for people considering a franchise, including webinars to determine if franchising is the right business investment for you and how to choose the right franchise. </p> <p>Napa Valley Register (06/09/08) Pratt, Beth © Copyright 2008 INFORMATION, INC.</p> </article> </main></body></html>