Ad (MTG): Automotive
Share /
A Smart Way of Helping Your Kid’s Financial Future
Posted by Jeff Lefler January 14, 2020
As a business owner, two of your most valuable commodities are time and money. In most cases, starting and operating any worthwhile business venture requires a balance of both. But, as many entrepreneurs would agree, access to money can be challenging. One of the biggest risks for entrepreneurs is under-capitalization.
Read moreFranchising and Murphy’s Law
Posted by Ed Teixeira January 26, 2019
Murphy’s Law is well known among business people. Attributed to Neil Maskelyne in 1908, it states that: “Anything that can go wrong will go wrong”. I have observed that when it comes to franchising, Murphy’s Law comes into play more often than desired. In many cases, a new franchise takes off slower than anticipated and the franchisee has to look for a way to remedy the situation.
Read moreFranchisors and Franchisees Should Manage Change
Posted by Franchise Grade Team February 5, 2017
Change is an important component of all business relationships and this is particularly true in franchising. When significant change is considered or takes place it’s important that the franchisor and franchisees are capable of conducting their business without disrupting their relationship. In addition, change should consider the needs and objectives of both parties.
Read moreAttributes Of A Successful Franchise System
Posted by Franchise Grade Team February 1, 2017
The franchise industry sometimes receives mixed reviews including the occasional bad press. However, a look at the top tier of the industry reveals franchises that are successful for both franchisors and franchisee investors.
Read moreThe Top 5 Reasons Why Opening a Business Is Hard
Posted by Jeff Lefler November 21, 2016
What’s better than ditching that 9 to 5 job and starting your own business? The freedom, the luxury! Starting your own business can be very rewarding, but what if I told you that half of small businesses fail in their first year? Or that instead of 9 to 5 you’re now working 7am to 11pm – or on weekends!
Read moreA Checklist for Finding the Best Franchise
Posted by Franchise Grade Team October 27, 2016
Prospective franchisees need a checklist for finding the best franchise. The checklist should include the type of territory, type of franchise and the investment. Once a franchise is selected, the next step for finding the best franchise , should be checking the franchise performance. One of the best ways is to focus on areas that measure the risk of the franchise investment. Here are seven areas used by FranchiseGrade.com to grade a Franchise Investment Profile. It’s based upon the Franchise Disclosure Document and compares franchise performance to franchise systems and the franchise industry.
Read moreThe Single Greatest Management Hack Of ALL TIME!
Posted by Franchise Grade Team October 18, 2016
The 80/20 principle doesn’t even do this justice: When it comes to leadership and getting the most out of your people, there’s one simple tactic you can use that will create a revolution of results. Think of it as the 1% insight into management strategy that nets you 99% of the results. This single uncomplicated tactic will increase your staff’s compliance with instructions in the short term, while slowly conditioning them to think for themselves in the future. The only catch? In order for this to work, you have to understand a crucial piece of human psychology. Once it clicks, you’ll be able to rocket your team’s effectiveness into the stratosphere. Telling people what to do doesn’t work Poor managers believe that their job is to communicate instructions to their staff. “Do this, do that… and do THIS as well!” This cliche is always followed by “Why do I have to keep reminding you?”. It feels a bit like a burnt out parent nagging a surly teenager to take out the trash. The “Transfer-of-Instructions” school of leadership is born of the industrial age. It’s built on the presupposition that people are automatons: Replaceable cogs of mindless labor functioning in a machine. It makes no room for the notion of building an inspired, autonomous and proactive crew. Even if you run a business that requires boring labor of your team, it doesn’t have to be mindless. The make or break difference between these types of businesses that succeed and those that fail still comes down to staff. Until robots really can replace everyone, you need people to do their jobs and your bottom line will benefit if they do them well. Merely transferring instructions doesn’t work. Staff become uninspired, look for shortcuts and require constant reminding. Most of all? They stop thinking for themselves ensuring you always sweat when you need to leave them unattended. The Power of Rationale What’s missing is the WHY. This is the principal so few business owners understand. They transfer instructions that they can see – with their eagle-eye perspective on the business – are essential. However, staff are simply told they must do this thing. They’re not given context or an explanation for why the priority has arisen
Read more