Welcome to the September 2013 Educated Franchisee Insider.
Even though it may not feel like it here in Florida, summer is pretty much over. It is more than just kids returning to school; it is about a mental shift I see happening every year around this time.
In the summer, the average person tends to be distracted. We intend to be productive but distractions abound. Labor Day is our wake-up call. Whatever our goals were at the beginning of the year now is the time to make them happen.
I once had a person explain to me that it goes back to our hunter and gatherer days where we feel urgency to prepare for winter. Not sure if that applies here in Florida but whatever the reason, this is when people are naturally inclined to make things happen.
As you celebrate Labor Day and realize that 2013 is rapidly departing, I would advise you to review the goals you set at the beginning of the year and measure your success in achieving those goals. If you are behind (most of us are), then make a list of the items you can accomplish over the next 120 days and post them on the wall.
Remember - There are people who make things happen, others watch things happen and some wonder what happened. If you are reading this newsletter, it is because you intend to be the kind of person who makes things happen. Now is the time to prove it. Make the rest of 2013 as productive as possible.
Have a great September.
Founder of The Educated Franchisee
Changing Face Of Franchising.
hat does a franchise owner look like these days?
The industry has seen a swath of changes lately that seemingly open the field to different types of owners. More are offering work-from-home options, or other pared-down setups with low initial investments, for instance. And lots of businesses are trying to get veterans to invest.
At the same time, some sectors are seeing existing players strengthen their positions, as big, multiunit owners buy up existing outlets and get preferential treatment for new territories.
So, what have all these trends, and any number of others, done to the demographics of ownership? How many stores does the typical franchisee own? How much does it cost to buy into a chain? And where are the most-and least-popular locations to set up shop?
Here's a closer look at today's franchisee.
Go to The Wall Street Journal, Click Here
| Small Business Jobs Rise with Economy|
Small-business hiring and confidence about the future are rising, a signal of the economy's growing strength and diminishing concerns about employee insurance coverage required by the new health care law.
Job creation at small companies has almost doubled in the last six months, reaching 82,000 jobs at firms with 49 or fewer employees in July, according to payroll processor ADP. Borrowing by small businesses and sales of new franchises have also climbed, indicating business owners are willing to take on new expenses and risk.
Other data also suggest small businesses are ready to grow:
*Small-business borrowing is up 10% this year, according to data through March, according to the Federal Deposit Insurance Corp.
* Small-business loan guarantees through the Small Business Administration's largest program have risen
.....Go to USA Today, Click Here
| How to Recruit Top Talent Against Large Competitors.
hen it comes to hiring top talent, businesses are feeling the crunch. Sixty percent of small business owners and managers say finding skilled workers is their company's greatest challenge when it comes to hiring and managing staff, according to one our firm's recent polls.
But, with unemployment still relatively high, why should employers
have to work so hard to find and attract the professionals they need?
The answer may lie in the emerging specialist economy. Our high rate of unemployment is obscuring the fact that specialized talent - those individuals with the niche knowledge and the skills to do a specific job - is in short supply.
Reflective of this trend, the unemployment rate for workers over the age of 24 who have a college degrees was only 3.8 percent last month.
Go to Washington Post, Click Here
| Leaders Know How to Show Their Emotions
uch of what comes out of people's mouths in business these days is sugar-coated, couched, and polished. The messages are manufactured, trying to strike just the right tone. Genuine emotion stands in stark contrast. It's a real person sharing a real feeling. When we hear it, we're riveted - for one because it's rare, but also because it's real. Sometimes it's uncomfortable and a little messy. But that's what makes it powerful. No one is trying to hide anything.
We hide emotions in an attempt to stay in control, look strong, and keep things at arm's length. But in reality, doing so diminishes our control and weakens our capacity to lead - because it hamstrings us. We end up not saying what we mean or meaning what we say. We beat around the bush. And that never connects, compels, or communicates powerfully.
Yes, being too emotional in business can create problems. It clouds objective analysis, screws up negotiations, and leads to rash decisions. But in nearly two decades of working with leaders, I've found that showing too much emotion is far less of a problem than the opposite - showing too little.
The Educated Franchisee
|The Franchisee Workbook|
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.