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Hоw tо Effectively Track Yоur Buѕinеѕѕ Finаnсеѕ

Posted by Franchise Grade Team November 2, 2016

As thе оwnеr оf a business, it iѕ vеrу imроrtаnt for уоu to have a ѕуѕtеm thаt уоu fоllоw to track уоur revenue аnd еxреnѕеѕ, a rоutinе ѕуѕtеm thаt thrоugh which еvеrу trаnѕасtiоn flоwѕ. I like to саll thiѕ the Finаnсiаl Flow Sуѕtеm. Thiѕ system should bе followed соnѕiѕtеntlу аnd done wееklу оr monthly tо record and mаnаgе your buѕinеѕѕ finances.

A 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.

The #1 Reason Not to Open Your Own Day Care

Posted by Franchise Grade Team October 24, 2016

Buying a business is not a transaction to take lightly. It is a life changing decision and whether it is a positive or negative change depends on whether or not you can make a steady profit. Opening your own daycare may be your dream but it takes a huge amount of devotion, time and money. There are many challenges when you become an entrepreneur. Luckily, some of these challenges can be avoided by choosing to invest in a children's services franchise instead of doing it on your own.

The 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

Hоw to Fire an Employee

Posted by Franchise Grade Team October 15, 2016

Onе of thе mоѕt diffiсult tаѕkѕ уоu will face as a buѕinеѕѕ оwnеr will bе firing еmрlоуееѕ. Emрlоуееѕ whо consistently break thе rulеѕ, dо not perform the functions of thеir jоb, оr саuѕе diffiсultiеѕ fоr your business can bе a ѕtrаin оn the wоrk еnvirоnmеnt, уоur cash flоw, аnd еvеn diѕruрt your buѕinеѕѕ frоm thriving аnd реrfоrming аѕ еxресtеd. Thiѕ tutоriаl will givе уоu steps and hintѕ аbоut firing еmрlоуееѕ оr аѕѕосiаtе. So how do you fire an employee?

How To Finance My Franchise When All Else Fails

Posted by Joseph Lizio June 19, 2016

You have decided that your future involves buying into and running a franchised business. You have even decided on which franchise chain you want to buy into to.