The Educated Franchisee Insider Newsletter

The Educated Franchisee
The How-To Book for Choosing a Winning FranchiseDecember 2010
Author ImageGreetings!

Last week I had the distinct honor to hear Tom Shay, CEO of Right Management, Florida/Caribbean speak on the topic of job transition and career management.  What an interesting discussion.  Mr. Shay has held this position for 31 years and during his tenure Mr. Shay has seen exceptional change in the employer/employee relationship.

Mr. Shay began by sharing a very simple statistic. During his father's generation (presumably 40 years ago), the average tenure for a manager or higher, was 27 years.  Losing a job was considered taboo.  As a matter of fact, it was hard to lose a job.  You really had to do something wrong.  Today the average tenure for that same employee is 3.7 years.  Doing a good job does not mean you will keep your job.  Job transition is commonplace and expected.  Does that surprise you?  From 27 years to an average of 3.7 years. Wow. 

Mr Shay went on to state that what used to be 'one job for life' has disappeared.  Today it is one boss for life - yourself.  You need to look at yourself as a company and intelligently apply your personal brand to the marketplace.   Mr. Shay's point is that we are all 'free agents' or 'businesses'.  Companies may contract with you if they think you can solve their problem.  Once the problem is fixed, you will need to find another application for your skills.

Finally, Mr. Shay spoke about the important of investing in yourself.  Going to conferences, staying current and learning new things is what allows us to remain relevant.  Don't expect someone else to pay for you to improve yourself.  We are all 'free agents' or 'businesses' and as such, we need to focus on doing those things that allow us to best achieve our personal goals

As you know, I spend most of my time discussing business ownership, but Mr. Shay's points are well stated.  The world is a different place.  Business ownership may or may not be the right path for you but regardless, you need to think of yourself as a business.

As we move toward the New Year I would like to wish each and every one of you the very best.  The holiday season is a time to celebrate.  It is also a time to reflect and plan.  Did 2010 go the way you wanted it to?  Do you have a plan for 2011?  Are you maximizing your free agent status?  As a free agent, you are in charge of your future.  Make it count.

All the best to you and yours.  As always, in respect for the holidays, there will not be a newsletter in January.  Look forward to reconnecting in February 2011.

Apple Image
Rick Bisio
Apple ImageNew Study on the Relationship Between Income and Happiness

It's an issue that tugs at many of us: the tradeoff between a satisfying job and a satisfying paycheck. Students have to ponder the question when considering a college major or embarking on a career. Workers are concerned about it when weighing a promotion that would bring longer hours and more stress along with higher pay.

Beyond household income of $75,000 a year, money "does nothing for happiness, enjoyment, sadness or stress," the study concluded.

It's not so much that money buys you happiness but that lack of money buys you misery, said Daniel Kahneman, a professor emeritus of psychology at Princeton and one of the authors of the study. "The lack of money," he said, "no longer hurts you after $75,000."

Apple ImageThank You. No, Thank You - Grateful People are Both Happier and Healthier.

It turns out, giving thanks is good for your health.

A growing body of research suggests that maintaining an attitude of gratitude can improve psychological, emotional and physical well-being.

Adults who frequently feel grateful have more energy, more optimism, more social connections and more happiness than those who do not, according to studies conducted over the past decade. They're also less likely to be depressed, envious, greedy or alcoholics. They earn more money, sleep more soundly, exercise more regularly and have greater resistance to viral infections.

To take the Wall Street Journal interactive test - Click here

Go to the Wall Street Journal, Click Here
Apple Image How to Give Your Franchise a Personal Touch
As a rule, entrepreneurs tend to be independent thinkers. That can often be a real strength in persevering against the myriad of challenges involved in building a business. But, when an entrepreneur makes the decision to become a franchisee, they need to curtail some of that independent spirit since they are now part of a bigger organization.

The good news is that there are many ways that entrepreneurs can express their creativity and still enjoy all the benefits that come from being a franchisee. The key, says Lewis, is to get approval from your franchisor ahead of time so that you can get their support, such as extra marketing muscle, behind it. "Franchisors want to incorporate the best practices of franchisees," he says. "But if it isn't in the best interest of the organization, you risk damaging your relationship by making changes in secret. View the relationship as a partnership and your franchisor should too."

Given that advice, here are some examples of how entrepreneurs can successfully personalize their franchise.

Apple ImageLaid Off No More

The work at times takes her to dark, dank and moldy places. Sometimes, she can be found creeping through crawl spaces, trudging through water-damaged basements and cleaning out dusty air vents.

But Erin Dillon couldn't be happier.

The former Wendy's International business-systems analyst has traded in her business suits and heels for a uniform that includes her own company's embossed polo shirt, workpants and boots.

Dillon is one of the thousands who have lost jobs in the past couple of years but have found light at the end of the tunnel.

The Book
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There is a reality in life.  Greater knowledge drives better decisions and better decisions reduce business risk.  Franchising is all about risk reduction but not all franchises are low risk.  The Educated Franchisee is designed to empower you.  By following the advice and guidance presented in this book you will recognize high quality franchises and confidently pass over those that are not.

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Author - Rick Bisio