Category: Business Ideas

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Business Ideas

Solo Entrepreneur Marketing Strategy: Give Away What You Know (and Lots of it!)

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One of the best ways to generate more income is to stop selling your expertise by the hour. Your expertise — knowledge, skills, methods — are your most valuable assets. By taking your expertise and packaging it in various forms, you can sell your expertise 24/7/365.
So if your knowledge, skills and methods are your most valuable assets, why in the world would I suggest that you give it away as a marketing strategy?? Because giving away your expertise lays the foundation for multiple streams of income. Why this works:
Access to lots of free information is already available and potential customers expect to find it. Making your expertise available enables your *ideal* customers to find you — among all the free information available, they need to hear it the way *you* say it. Having information that tells them what they need to do isn’t the problem for most customers — implementation is where they need help.
Once potential customers have found your free information, make it easy and enticing to sign up for your email list. Now you’ve laid the foundation to build a trust relationship, and can start offering them the help with implementation they so desperately need — and will pay for.
Giving it away effectively and profitably
Use multiple channels and formats. For instance, give away information on your blog, in articles posted on other sites, in free giveaway ebooks, in audio teleclasses and excerpts. Get something in return when possible. Encourage blog visitors to sign up for blog updates via email. Put a subscription box to your newsletter on every page of your website (particularly where you post your newsletters, etc.) For bigger “chunks” of information like ebooks and audios, require that they sign up for your newsletter to get these freebies. In ebooks, make a link to your website prominent at the bottom of each page. Make the give-away process hands-free. Use an autoresponder to handle signups and instant download delivery for your giveaways. Once it’s set up, it costs you no more to give away a thousand than it does the first ten.
Plus, potential customers get instant gratification. Leverage from one format to others. Write a blog post. Add more details and turn it into an article (to post on your site, use in your newsletter, and submit to other sites). Take a series of articles and turn them into an ebook. Engage someone to interview you about the content of your ebook and record it. Get help where possible and practical. You can hire a ghostwriter to write articles for you. Your VA can take existing articles and put them into an ebook format and set up the autoresponder and download capabilities. Recordings of classes and interviews don’t need to be professionally done when given away for free; many bridge services offer recording capability.

TerriZwierzynskiPhoto.jpgTerri Zwierzynski is a self-employed business strategist and marketing consultant to solo entrepreneurs, and a grassroots promoter of the solo entrepreneur lifestyle. She runs Solo-E.com, the resource website for the self-employed which attracts thousands of solo home business owners monthly from over 100 countries on six continents (and was recently named a finalist for “Website of the Year” in the 4th Annual Stevie® Awards for Women in Business). Terri is also the co-author of 136 Ways To Market Your Small or Solo Business.

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Business Ideas Entrepreneurs Entrepreneurship Franchise How-To Guides Starting Up

How to Evaluate a Franchisor’s Training Program

Not long ago I took a trip to Tuscany and spent a week in a cooking class. Before the trip I spent time researching my options. I wanted to know who would be teaching the class, what courses and dishes would be covered, how hand-on the class was, if wine-pairings with the dishes would be addressed and if the class included trips to the local farmer’s markets to select fresh produce. Finding just the right cooking school was important to me because I would be spending a significant amount of money traveling to Italy and I wanted my experience to be well worth my time and effort.
For a woman interested in buying a franchise, evaluating the training a franchise business offers should involve even greater research – after all, this is about your future – not a vacation.
As part of your due diligence when researching a franchise opportunity, find out everything about the training a franchise system provides. A good training program should cover not only the product or service but also setting up the business, marketing, employee management, business procedures, reporting, etc.
The best way to find out about the scope of the training program is to ask existing franchisees. Find out what stood out about the training they received and what they feel could have been covered more completely. Ask them how prepared they felt when they opened their business and what ongoing training they have been provided.
Keep in mind that the franchisees you talk with may have been through various versions of the training program. Problems that existed at one time may have been fixed. Or, you may find that a training program that was fine in a company’s early days is now out-of-date. Be sure to include in your research franchisees who have had the same training you will receive to get an accurate assessment of its value.
Ask current franchisee if they received a training manual and if the information is updated periodically. Also ask if the franchisor offers other training resources such as conference calls, webinars or intranet sites. Ongoing training is important for many companies who adjust their business with changes in the marketplace. If this applies to the business you are reviewing, find out what they do to keep each franchisee up to speed.
An addition source of training may come from periodic conferences held by the franchisor. Besides providing additional education about the product or service, conferences offer franchisees an excellent opportunity to connect and network with other franchisees in the system. A network of peers is one of franchising’s invaluable resources so be sure to ask if this is an opportunity the franchisor provides.
Although this is less of a problem today than in the past, some industries may have an “old boy’s club” mentality among franchisees. You will be able to tell by reading the UFOC if there are other woman franchisees. Include some women in your due diligence calls so you can get an idea of the business culture and the prevailing attitude towards woman franchisees.
Many franchisors will have field support personnel who are available to be at your site during your grand opening and at periodic intervals during your first year in business or longer. Having someone right there to answer your questions may help calm your first-day jitters so find out if this a serviced provided by the franchisor.
If, after your franchise investigation process is completed, you don’t feel the offered training will adequately prepare you to run your new business, it’s time to step back and look at other opportunities. As reported in the August 2006 Franchising World magazine, a recent study by FRANdata found nearly 2500 franchise concepts in 18 different industries and almost 900 of these concepts were started over the past three years. You don’t have to compromise – if one company does not have the training you are looking for, there are sure to be many other companies who can meet your needs.
I’m happy to report that the cooking school in Tuscany exceeded my expectations and I left there able to prepare a number of authentic and delicious Italian dishes. Had I not researched the available schools so thoroughly, I might have been very disappointed with my choice.
To get full value for your investment in a franchise business, the training should answer all your questions and set you up as a confident and successful owner.
Franchisee training should include:
• Everything you need to know about the product or service
• Everything about using/protecting the brand
• How to find your business location
• How to negotiate a lease
• How you complete the permits and buildout
• How to find, hire and manage employees
• How to market your product or service
• How to keep books and records for the business
• The reporting requirements and processes
• Where to get the equipment needed for the business
• How or where to buy supplies and inventory
• How to get help when you have a problem
KimberlyEllisPhoto.jpgKimberley Ellis is the President of Bison.com, a leading online resource for franchise and business opportunities. She has been quoted as an industry expert in USA Today, Wall Street Journal and a variety of local and regional publications regarding trends in business and franchising. Kim combines her entrepreneurial spirit with a diverse background in marketing and operation to help others succeed in franchising.

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Business Ideas Entrepreneurs Entrepreneurship Franchise Home-Based Business How-To Guides

Franchisor Support: What can you expect from your franchisor?

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If you are considering a franchise as your next career move, you probably already understand a number of the benefits to being a part of a franchise system. However, as each franchisor will offer different levels of assistance, it can be confusing to someone trying to evaluate a potential franchise purchase.
Since the value of a franchise is that the system has been developed to have replicable results, you will want any system you evaluate to score high in those areas that are important to the success of your unit.
Location – Location – Location
If your franchise is going to be site-dependent, the franchisor should, at a minimum, provide guidelines for selection of a site and the general terms of a lease agreement applicable to this type of location. Some franchisors will provide company personnel who will help you search for and select a site while some even work with national real estate brokers to find the best properties. If your franchisor provides help in site selection and lease negotiation, you are working with a good company.
Build-out Assistance
A typical franchise will provide each franchisee with instructions for the design and lay-out of the store along with details of where to purchase the components. As group buying power an important benefit of being part of a franchise company, you should expect to pay less for these components as a franchisee than if you purchased them as a sole proprietor.
At the high end of franchisor build-out assistance are those companies with design groups who help the franchise design the store, sometimes with such high-tech devices as CAD (computer-aided design) systems. Also, some franchisors will even hire a construction team to do the build-out and then deliver the components right to the new business.
Initial Training
The majority of franchised businesses do not require a new franchisee to have previous industry experience, primarily because they believe they can train a person with good business acuity to run the business successfully. A good training program is therefore essential. Most franchise companies will bring the franchisee to corporate headquarters for classroom training and some will allow time for hands-on training at a nearby franchise unit or corporate store.
This initial training should cover all aspects of the operations of the business, including book-keeping, record-keeping, operations, recruiting and retaining employees, and finding customers. The franchisee should receive an operations manual and get answers to any remaining questions she may have so that she feels confident she will be able to get her business up and running.
Some franchisors will provide corporate or field personnel to work side-by-side with the franchisee during grand opening and during the first week of operations, ensuring the franchisee has mastered the training and achieves a comfort level with the business. Franchisors that are willing to train a franchisee’s manager along with a franchisee are providing a value-added service.
On-going Training and Assistance
A good franchise business will continue to improve and evolve with time and the addition of new units and on-going training is often a necessity. Similarly, a good franchisor will offer continuing educational opportunities to franchisees as well as providing on-going assistance as needed. Many franchisors provide a help-line for issues that come up in the field and some will make regular visits to the franchisee’s location. A company that provides conferences or other opportunities for a franchisee to connect with fellow owners has the best interests of their franchisees in mind as these opportunities allow for creative problem-solving, the sharing of best practices and can reenergize the business focus.
Marketing Expertise
Your franchisor should provide you with a complete marketing plan for your new business that covers grand opening through at least the first 3-6 months. Since the franchisor has every reason to want you to succeed, a savvy franchisor will do much more. Many will provide you with the actual marketing materials, professionally produced. These may include pieces such as posters, banners, direct mail postcards, newspaper ads, and maybe TV and radio spots, all of which can be customized for your location.
Permits, Compliances and Other Legal Issues
Depending on the type of business, you may also need assistance in dealing with local governmental agencies for various permits. If your franchise involves food or beverage, there are numerous health-code compliance issues you will need to handle. Your franchisor should provide help in these areas so that your opening is not held up waiting for permits to come through.
There are several ways to find out how the franchisor handles these support items. The first, of course, is that you will want to ask questions about each as part of your investigation into the business. The second step is to talk to existing franchisees about the support they received and how well prepared they were to open and run the business.
Be sure to ask these franchisees if they felt there was anything missing from the training and support they received and if there is anything they wish had been more complete or done differently. If the company you are investigating scores well with these franchisees, you can be confident you will be happy with the support they will provide to you.
KimberlyEllisPhoto.jpgKimberley Ellis is the President of Bison.com, a leading online resource for franchise and business opportunities. She has been quoted as an industry expert in USA Today, Wall Street Journal and a variety of local and regional publications regarding trends in business and franchising. Kim combines her entrepreneurial spirit with a diverse background in marketing and operation to help others succeed in franchising.

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Business Ideas

Business Lessons Learned From Brett Favre

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Recently Brett Favre, the quarterback for the Green Bay Packers, broke the all-time NFL touchdown record. As a fan of football and Green Bay (I grew up in Wisconsin) I’ve had the opportunity to watch Favre over the years, and I also realized how his career provides some valuable business-building lessons.

How? Because success is success, whether you’ve built a multi-billion dollar company, written a dozen best-selling novels or are a famous quarterback. Many of the same mindset and principles are the same no matter how the success manifests itself. What’s nice about sports is first, it’s public (the games are televised and the players are forever being interviewed so you can get to know them a little) and second, you can see things unfold in a short amount of a time. An entire game is completed in 3 hours, compared to business where you don’t always see success or failure that fast (although sometimes it feels like it!)

That said, this is the second of a 2-part article where I’ll share a total of 6 principles (both good and bad) you can learn from Favre to become a more successful business owner.

1. Favre is a great leader.
Right now, the Packers are the youngest team in the NFL and they have a 7-1 record. To further put this feat into perspective, they have no running game to speak of. If you don’t follow football, let me explain. There are 2 ways for an offense to move a football down the field — you run and you pass. If you don’t have anyone who can run the football, you pass. And you end up being lopsided because all you do is pass, and defenders KNOW all you’re going to do is pass, and it’s harder to fool them. Despite that, Favre is successfully throwing the ball down the field and the receivers are successfully catching it.

How can this be? Because Favre is busy coaching and leading those young receivers. His experience is making up for the lack of experience surrounding him. And it’s working.

As an entrepreneur and business owner, you need to be a leader as well. In fact, when you start building a team, that’s what your team is going to expect from you. A vendor once told me she had left her previous position because the owner had lost his vision. Your team wants you to have that vision, that’s what draws them to you. They want to be a part of something bigger. So give them that.

2. Favre is still passionate about the game.
Favre is 38 years old, which is about 207 in NFL years, and still plays like a kid. It’s clear how much he loves to play. Sadly, because he’s surrounded by guys playing for fame and money, it truly makes him stand out. (When he was one touchdown pass away from breaking the record, he told an interviewer “it’s not going to make any difference if I break the record and we don’t win the game.” And after he broke it, and did his celebration, he was back on the sidelines looking at photos and getting ready to get back on the field. That’s true passion.)

You need to be passionate about what you do. When you are, it’s obvious. People are drawn to you and want to work with you based on that passion. Plus, when you are passionate, you’re having fun. (The Packers are probably having the most fun of any NFL team right now.) And, in the end, isn’t having fun what’s it all about?

3. Favre does what needs to be done to win.
It doesn’t happen too often anymore (now that Favre almost needs a walker to get on the field) but Favre used to block. Yes, the quarterback would occasionally get out there and throw a good block to get the running game going. This is pretty much unheard of, quarterbacks blocking, because it increases the odds they can get hurt. Yet Favre would do it. And, when it worked, he’d be the first one jumping up and congratulating the runner.

He does what needs to be done to win. He doesn’t worry about his record or his ego or what else is going on, just as long as the Packers are winning.

As a business owner, this is especially poignant. One of the biggest differences between successful people and unsuccessful people is successful people do what needs to be done to be successful. Not just the fun stuff. Not just what they feel like doing. They do the things unsuccessful people don’t or won’t do. And ultimately, that makes them more successful.

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Business Ideas

What Football Has To Do With Your Business

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Recently Brett Favre, the quarterback for the Green Bay Packers, broke the all-time NFL touchdown record. As a fan of football and Green Bay (I grew up in Wisconsin) I’ve had the opportunity to watch Favre over the years, and I also realized how his career provides some valuable business-building lessons.

How? Because success is success, whether you’ve built a multi-billion dollar company, written a dozen best-selling novels or are a famous quarterback. Many of the same mindset and principles are the same no matter how the success manifests itself. What’s nice about sports is first, it’s public (the games are televised and the players are forever being interviewed so you can get to know them a little) and second, you can see things unfold in a short amount of a time. An entire game is completed in 3 hours, compared to business where you don’t always see success or failure that fast (although sometimes it feels like it!)

That said, this is where I’ll share the first 3 of a total of 6 principles (both good and bad) you can learn from Favre to become a more successful business owner.

1. Favre is willing to take chances.
Watch Favre any given Sunday and you’ll see him throw into double coverage, triple coverage, or just in the general direction of a player wearing green and gold. And, more times then it should, it works. The receiver makes this spectacular catch and the rest of us all wonder how on earth he pulled it off.

That’s what successful people do. They take chances. They see an opportunity and they seize it. And they do it fast. They make a decision and it’s done. They see an opening between the defenders and they whip the ball in there for an amazing play.

2. Favre’s greatest strength is also his greatest weakness.
As a Green Bay fan, you end up holding your breath as you watch Favre throw. Because it’s a toss up whether you’ll be cheering a spectacular throw or groaning because he just threw an interception.

It’s really no surprise that 2 weeks after he broke the touchdown record, he also broke the record for most NFL interceptions. And, I’m sure he’s not done piling up either the touchdown throws or the interceptions. (In fact, his very first throw in the NFL was an interception that was run back for a touchdown.)

Why does he throw so many interceptions? Because of that willingness to take chances. He makes throws he has no business making, and sometimes it bites him.

Now, there are two lessons here to learn. One is, keep an eye on your greatest strengths because if you overuse them, they’re also your greatest weaknesses. I’m not saying don’t capitalize on your strengths, I’m saying keep your eyes open and be willing to admit when your strength has led you down the wrong path (and be willing to do something about it.)

The other lesson is of perseverance. Would Favre had broken the NFL record for touchdown passes if he allowed all those interceptions to get him down? No. And not only that, it never even stopped him from taking chances. He’ll throw an interception, get right back into the game and take the same chance.

Not all the chances or opportunities you take in your business are going to work out. You’ll have losses and set backs and heartaches and everything else. And what you have to learn to do is not allow it to stop you. Sure, maybe the chance you seized yesterday was a total disaster, but that doesn’t mean the chance you seize tomorrow will be the best thing that ever happened in your business. And if you let yesterday’s failure prevent you from tomorrow’s success, you’ll never break that touchdown record.

3. Favre plays to win, not to not lose.
Favre wants to win. Period. That’s why he takes chances. That’s why he makes throws he has no business making. Because he’s out there to win. He’s not out there to not lose the game.

This may sound like a subtle difference, but it’s actually huge. When you play to not lose, what happens? You suddenly get very conservative on the chances you take, the opportunities you go after, and even all the choices you make. If you’re playing to win, now it’s a whole different ball game. Even just saying it, playing to win, has a whole different energy level. It feels more alive, more passionate.

Now you’re making entirely different choices because you want to win — not to not lose.