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Educating Tomorrow's Franchisees
May, 2013
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A recent experience with a franchise candidate got me thinking about what characteristics are required to be a great franchisee. It is obvious that some people are cut out for entrepreneurship and franchising. Others simply are not. So what is the key difference?


At first I began thinking that it is leadership, focus, persistence and hard work. These are the typical 'A' type personality traits that are often written about. Unfortunately, I have seen too many people with these traits struggle. So what is the magic ingredient? What is the one 'extra' characteristic that allows one person to succeed as a franchisee and another to struggle?


After my experiences this month, I have determined that 'humility' is the missing ingredient. Why humility? Humility is what allows you to recognize that you may not know it all. Humility is what you need to follow a system developed by others who have more experience than you. Humility is what you need to be part of a larger world and still thrive. Humility is what allows you to be successful ... and still liked.


Without humility you are not able to recognize your weaknesses and you become closed to learning. Look at the most successful people. They are strong, focused and persistent - but they have enough humility to listen, learn and be likable.


Dedicating oneself to success begins with the humility to recognize that we do not know it all. It includes the conscientious decision to listen to those generous people who have gone before us.


What do you think? Agree?  Disagree? To add your thoughts, Click Here


Hope you have a great May!!



Rick Bisio
Founder of The Educated Franchisee
5 Business Lessons from a 10 year old Entrepreneur


My town was 30 minutes from the nearest grocery store and most people were too lazy to make that long drive to return their bottles and cans for the five cent deposit. That's were I come in.


Our brains work differently as a child. We don't consider what other people think. We know what we like and the majority of our day is spent thinking of ways to get it - without regard to outside judgement, criticism, or questioning.


In my child brain every single bottle and every can was a little piece of opportunity. Opportunity to NOT be the poor kid in the neighborhood. We forget as adults that opportunities are made of our own doing, they're never given ... and at 10 years old, living in a small town in Upstate New York, a couple extra dollars in my pocket meant LOTS of opportunity.


Go to Business Grow, Click Here
30 Key Questions To Ask Before Forming A Partnership.


Over the years I've moved into and out of dozens of joint ventures and partnerships, which have made me millions of dollars. Below are some of the best of what I've learned when forming a partnership.

First, remember that a long-term business partnership is like a marriage. You want to ease your way into it with open eyes and LOTS of communication on the important issues that will eventually come up.

Here is a list of questions to consider as you think through the viability of any long term partnership:

  • Values: Do you share similar values? Will you both fundamentally be moving in the same directions?

  • Conflict: How does your prospective partner deal with conflict and does it match your style of dealing with conflict? In times of stress will your partner stay the course or cut and run? How has he/she dealt with conflict in past personal and business relationships? What clues are you able to uncover that reveal the real story?

  • Work ethic: What type of hours will this person work? How much real work will they put into those hours? How effective are they?

  • Integrity: Do you trust this person? Is your trust based on real data or an emotional connection? How has this person behaved in the past? Does this person consistently meet their big or small commitments? Will this person do what's right, especially when it isn't convenient or profitable?
  • .......................... 
Go to All Business, Click Here
10 Things To Stop Doing If You Want to Be Happier.

Happiness-in your business life and your personal life-is often a matter of subtraction, not addition. Consider, for example, what happens when you stop doing the following 10 things.


People make mistakes. Employees don't meet your expectations. Vendors don't deliver on time. So you blame them for your problems. But you're also to blame. Maybe you didn't provide enough training. Maybe you didn't build in enough of a buffer. Maybe you asked too much, too soon.

Taking responsibility when things go wrong instead of blaming others isn't masochistic, it's empowering-


Go to Life Hacker, Click Here 
Retirees Take Financial Future Into Their Own Hands

ccording to the Washington, D.C.-based Employee Benefit Research Institute, 70 percent of U.S. workers polled in the institute's 2012 Retirement Confidence Survey said they plan to work for pay after they retire. Sixty-two percent of those cite a decrease in the value of their savings or investments as the reason for this choice.

"It's a brave new retirement world out there," said Percorak. "When the federal government starts talking about slaughtering sacred cows like home mortgage deductions and capping 401Ks, I can't possibly imagine someone sitting back at the stage in their life where I am, and thinking things will get better. We have definitely entered the 'Look out for yourself' era when it comes to retirement."

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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.  Our books are designed to empower you.  By following the advice and guidance presented in our books you will recognize high quality franchises and confidently pass over those that are not.

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Author - Rick Bisio