Speed to Market

When you think of some of the advantages that franchises have over independent small businesses, what are some of the things that come to mind?

Most of the people that I’ve met over the years as an advisor, or seminar speaker, tell me that they’re thinking of buying a franchise because there’s name recognition. In other words, there’s a brand.

Having a powerful franchise brand behind you in a business of your own is huge.

Unless of course it’s a young franchise concept…one that isn’t ,”branded” yet.

 

What else?

 

Other things that make franchise ownership an attractive option for some include;

  • Proven business systems
  • Group purchasing power
  • Proven marketing techniques
  • Formal training

Those are the usual subjects, and you can easily find hundreds of articles and blog posts describing each one. Good stuff. They’re great reasons to get involved in franchising. Here’s another one…

 

Source: ffffound.com via Joel on Pinterest


Speed. 

How cool would it be if you could invest in a start-up business of your own and have it up and running in 90 days?

By, “up and running, ” I don’t mean opening a business and “winging it.” Customers don’t like walking into a business that’s, “still fine-tuning things.” Today’s customers aren’t very patient, and will quickly take their money somewhere else if they don’t feel that their needs are being met.

If you’ve invested in a solid franchise, your business can be that place.
 
 

 

Why Do You Want To Be The Boss?

I’d like you to take out a piece of paper, and write down your reason (s) for wanting to become the owner of your own business. Doing this exercise on your word processor is not an option. It’s just not the same.

As you’re writing down your top reasons for wanting to get into a business that you can call your own, and deal with all the pressures that go along with it, I want you to go beyond the, “I’m sick of working really, really hard so someone else can rich” type of sentences.  Way beyond. I want you to get specific.

If one of your reasons for wanting to get into business is, “I want to build some equity,” don’t end your sentence there. Keep the sentence going. Think about “equity,” and what it would mean if you were able to get it. In other words, what would equity in a business of your own allow you to do?

Maybe you’re thinking of buying a franchise because you’d find it challenging to start at zero, and build your operation into something substantial. Fantastic! Write down what the word, “substantial” means to you. If you had a substantial business up and running, what would that do for you? How would it make you feel? What would come next?

This exercise will help you focus on The Goal.

“I have learned, that if one advances confidently in the direction of his dreams, and endeavors to live the life he has imagined, he will meet with a success unexpected in common hours.” – Henry David Thoreau

 

Manage your Reviews Online 1

 

The Startup America Partnership: Anita Campbell vs. Tim Berry

 

startup america partnership

Startup America is a White House initiative that was launched in 2011 that’s meant to celebrate, inspire, and accelerate high-growth entrepreneurship throughout the nation.

 

To further this initiative, an independent alliance of entrepreneurs, corporations, universities, foundations, and other leaders have joined together to fuel innovative, high-growth U.S. startups—that can help the US economy grow.

 

It’s called the Startup America Partnership. Here are the three main things that they’re focused on;

 

 

 

 

 

 

  • Recognizing startups as the drivers of our economy and their founders as American heroes

 

 

There’s even a cool East vs. West competition that just launched, and it features two friends of mine that also happen to be serious small business powerhouses.

 

It’s called the Master Challenge Throwdown.  Anita Campbell, the CEO and Editor-in-Chief of Small Business Trends is lacing up her boxing gloves, and is entering the ring to face Tim Berry, the founder of Palo Alto Software.

 

Go to this Northeast Ohio business blog to see what they’re competing for.

 

Looking For a Franchise And Buying a Franchise Are Vastly Different

 

It’s one thing to look at some great franchise opportunity websites—to see what’s available these days. It’s kind of exciting actually, especially if you’re one of the millions of people that have been downsized, and still can’t find work.

 

And, while it’s nice to think about being your own boss, and really owning what you do, there’s a huge difference between daydreaming about what it would be like to become a franchise owner someday, and stroking the check in order to do so.

 

 

Did I mention that there was a huge difference between the two?

 

Huge

 

Once you really start digging in–not just casual web browsing, but doing things like requesting information from the franchise companies, exploring possible locations for your new business, getting a rock-solid franchise business plan together, and calling current and existing franchisees, I promise you this;

 

Your blood-pressure is going to rise, and your nights will include some very unwelcome tossing and turning.

 

But, it’s completely normal, so flow with it. If you make a commitment to only focus on fact-gathering, and ignore the noise that will be coming from family and friends when you tell them your plans, you should be fine.

 

At the end of the day, you may decide that you just aren’t ready to take the financial risks required to become the owner of a franchise. It’s okay.

 

Read some of the other things I said about major career changes, like becoming a small business owner for instance, in this Cleveland Plain Dealer article about franchising that was published a couple of weeks ago.  I think that you’ll find it useful.

_______________________________________________________________________________________________

 

 

Two More Useful Things 

 

1. Anita Campbell, the CEO and Editor in Chief of Small Business Trends, has just started a forum for anyone that’s thinking about investing in their own franchise business–or a non-franchise business opportunity, like this one, for example. The forum is free, and all you have to do is register. Anita has chosen me to be the moderator, and I plan on keeping things interesting.
 
And real
.

 

2. Before you sign a franchise agreement–a franchise contract, you really need to check out this new service. Seriously.

 

 

 

The US Small Business Administration Has Several 50+ Entrepreneur Resources

 

If you’re 50+, and you’re not quite sure how your retirement years are going to play out, the SBA has an information page set-up just for you.

 

sba.gov website

 

From SBA.Gov;  

 
According to a USA Today/Gallup poll, 63% of American adults plan to work in retirement; two-thirds say enjoyment of work is the key reason.”

 

One way for the 50+ crowd to achieve that, “Enjoyment” factor, is to do something entrepreneurial. People that are 50 years old or more have a lot of work-related experience to draw from. While there’s certainly a learning curve involved in owning a business, the potential for it to be shortened definitely exists with an owner that’s experienced and has worked through lots of different work-related challenges.

 

 

Wisdom

 

 

We don’t receive wisdom; we must discover it for ourselves after a journey that no one can take for us or spare us.” — Marcel Proust

 

If you’re 50 years old, or older, and you’re starting to rethink retirement–how it’s going to look, feel, and taste, click the link below. maybe you’ll get some ideas…

 

SBA.Gov 50+ Entrepreneurs 

 

(Disclosure; I write about franchising for the SBA.Gov Community)

 

 

Starting Costs Calculator 

 


All About Franchising Fees, Franchise Brokers, And Names That Kind of Stick

 

What is Joel Libava talking about?

What?

 

You’re probably wondering why I’ve gathered you here today….

 

Actually, you’re probably wondering what this short post is going to be about; I would be too, if I was an avid and super-loyal reader of this franchise business blog.

 

 

Enter your email address:

Delivered by FeedBurner

 

 

Well if you aren’t, please subscribe; it takes 3.5 seconds. Then look in your email box for a permission link. Thanks :)

 

I participated in Melinda Emerson’s famous, well-attended, and pretty darn amazing Small Biz Chat last night. Melinda and I knew each other, (and knew of each other) through our multiple and mutual small business connections. I got to meet her before an event that both of us were speakers at, in New York City. To say we hit it off, would be a massive understatement. She’s hilarious, and like me, is not fearful of putting things out there that just need to be said-or written about.

 

For instance, I’ll probably start to get a little bit of heat from the franchise brokerage group that my late father and I were with. (I still have several people that I consider friends that are franchisees with them.) That’s because of a post I wrote this week. In it, I challenged one of their California franchisee’s statements, (which was quoted in a news story) concerning franchise business success rates.

 

I first responded to this franchisee’s bogus 90% statistic with a comment, which I left under the franchise article;
That 90% success rate is a very old, and very untrue statistic. I can’t believe that franchise brokers and franchise consultants are still using this figure.”

 

Someone (probably from the franchise brokerage) responded to my comment, and a little bit of unpleasantness ensued. Look

 

The powers that be at this franchise brokerage obviously felt that it was some type of personal attack on them. But, it wasn’t. I don’t care if it was a broker from their organization that put out that almost decades old, (and since unproven) statistic, or if it was a broker from one of their competitors. If someone from Franchoice, The Entrepreneurs Source, Franchise Alliance…heck, even if it was a broker from the franchise brokerage group that just sent me a check to be a sponsor on my becomeafranchiseowner.biz website, I’d add my two cents.

 

That’s because it’s not about them; it’s about thousands of prospective franchise owners who are nervous as hell. Our economy has been in lousy shape for a really long time–too long. Millions of people, and we all know several of them–are unemployed. Lots of really talented people can’t find jobs. And the ones who’ve been out of work for 9 months…a year, are starting to think about other alternatives. For some, becoming the owner of a business is starting to appear as a blip on their radar screens.

 

While owning a business isn’t the answer for everyone, it is for some. Franchise ownership, (on the surface, anyway) is one powerful option, in some of their eyes. And they need to read and bookmark this franchise article for future reference-before they even start looking. They also need to know the facts about franchise ownership. For the right person, at the right time in their lives, who have the right personal traits, and who have enough money, becoming the owner of a franchise business could be a fantastic choice, and a fantastic way to build something. 

 

But, they’re not going to have a 90% chance of success. There are ways to lower it though. And, the people that work with me, know exactly what they are.

_____________________________________________________________________________________________________________________

 

The Small Biz Chat on Franchise Ownership

 

In case you missed the very well attended #smallbizchat, last night, Melinda Emerson just put together a blog post featuring a lot of answers. Answers about franchise ownership. Answers about franchise financing. Answers about some of the trends in franchising. And an answer about a name that’s kind of stuck.

 

Go to this post featuring lots of Tips For Becoming a Franchise Owner.  Go on…

 

Train to Be a Franchise Broker  

 

 

Franchise Ownership Q and A on Twitter #smallbizchat

 

If you have any questions concerning the top things you should do before you Become A Franchise Owner! …………

 

Join Melinda Emerson, The @SmallBizLady , and me, on a live Tweetchat, tomorrow evening at 8:00PM ET. (Wednesday, December 14th)

 

Every Wednesday, (except the last 2 of this year) Melinda and her powerful small business fans and followers, provide amazing information on several areas of small business.

 

Please join me, as I help Melinda end 2011 with a BANG!

 

To participate…ask questions..add comments, all you have to do is go to Tweetchat.com, sign in with your Twitter account, and enter #smallbizchat in the box that’s located at the top of the TweetChat website.

 

It’s Free. It’s easy.

 

And, follow @FranchiseKing on Twitter, will you????

 

 

 

 

 

Why Rieva Lesonsky is a Royal Subject

 

Rieva Lesonsky is a royal subject

 

I remember a time when the newest issue of Entrepreneur Magazine had the ability to generate enough electrical activity in my brain to enable me to have hope. By hope, I mean the feeling that maybe I wouldn’t have to always have to answer to a bunch of idiots; the bosses that I always seemed to attract like a high-powered magnet. Bosses who should have never been promoted to management positions in the first place. 

 

I blame my friend, Rieva Lesonsky, for all of my previous job changes. (Ask my wife; there were tons of them.) I guess I was searching…for something.

 

About three pages in, Entrepreneur Magazine always had an article written by the Managing Editor. (Who for 26 years was Rieva Lesonsky.) She wrote about what was in the current issue, and shared things about entrepreneurship. She also participated in several business conferences every year. I always wanted to attend one of those. So that I could meet her.

 

 

Before Social Media

 

 

Of course, for most of the years that Rieva was involved with the magazine, social media wasn’t around. But it is now, and that’s how I met her.

 

Rieva Lesonsky and Joel Libava

 

The first time we met was really special. (For me.) We had been conversing via Twitter for a couple of years already, and I had always felt that we were on the same wavelength, regarding small business and franchising.

 

Here’s why our first face to face meeting was special;

 

Rieva looked me in the eye as we talked. She never once got distracted by the commotion that was going on around us. (We were in DC at a small business conference put on by Network Solutions.) And, she offered to, “help me figure some things out,” gratis.

 

And that’s what makes Rieva so damn special.

 

And last month, we got to spend a day and half together in New York City. At dinner, I thanked her for her support…her valuable tips, and her friendship. I told her that she was, “genuine.” She was caught a little off-guard by my observation. I guess that Rieva doesn’t know how much she’s helped me.

 

When I reached an agreement for my franchise book with the folks over at Wiley Publishing, I told them that I knew exactly who I wanted to write my book’s foreword. When I shared that it was going to be Rieva Lesonsky, I felt the smile on my editor’s face all the way from New Jersey. That’s because Rieva has cred.

 

Rieva agreed to write the foreword (without hesitation) , and when she sent it over to me at the end of the summer, I was pretty close to tears halfway through. (I don’t cry very easily.)

 

I guess you’ll just have to read my book to see why my tear ducts opened up a crack.

 

Here’s a bit more about Rieva;

 

Rieva Lesonsky has over 25 years of experience serving the SMB market. An award-winning entrepreneurship expert and speaker, Lesonsky has worked with B-to-B marketers including Bank of America, HP, Microsoft, Toshiba, The UPS Stores and many others to help them develop marketing strategies to reach the SMB customer. In addition, Lesonsky has appeared as a small-business expert on “Oprah,” “Good Morning America,” “Martha Stewart,” “Fox Business News,” and the “Today Show,” as well as numerous radio shows, and is a regular guest on MSNBC’s “Your Business.”

 

Check out her Small Business website. It rocks!

 

Do you like food? Me too! Here’s a new project that she started.

 

Thanks for being my friend, Rieva.

 

Do you know Rieva?

 

Why Chris Brogan is a Royal Subject

I’m not sure if Chris Brogan remembers how I was able to get his attention, a few years (WOW) ago.

Actually, it wasn’t me that got his attention; it was @FranchiseDog (who walked across almost a year ago the Rainbow Bridge).

Back to Chris. Not only does Chris help keep social media alive and kicking, he’s a good man.

Chris Brogan

He’s also one heck of a wordsmith.

“Focus isn’t easy. In fact, very little that’s worth anything is easy. Focus is so hard it makes you ache all over. But I will tell you this from the very bottom of my heart: my life gets better with every sweep of the broom and with every discarding of bad thoughts, excessive ideas, useless and painful emotions, and every random impulse that I used to follow blindly. The people in my life have commented positively on the changes my effort to focus have brought about, and I am bringing as much value to you as I can in 2012 (and beyond) based on how well I learn to focus.”

Read his recent post on focus. It will help you do just that.

Chris is a best-selling author, too. If you’ve never read Trust Agents, who he co-wrote with Julien Smith, add it to your holiday list.

I’ve always been pretty transparent; Chris has shown me that it’s okay to do so, even in business. At first, I hesitated a bit; I thought that it was crazy to share the specific techniques I use when I work with people who are interested in exploring opportunities in franchise business ownership. I’ve always been one to keep those types of things under my hat, for fear that my competitors would steal them.

But, I don’t have any competitors. (Chris taught me that, too). Now, I’ll admit that once in awhile I get pretty aggravated when my content is scraped. Recently, a gentleman who provides services that are pretty similar to mine, spent $47 of his own money to buy this. I thought that it was a bit strange, and forgot about it.

Two months later, I receive a Google alert, (combined with a email from a good friend of mine in franchising) pointing me to a “new” franchise eBook. Yep; this guy bought my eBook so he could use it as a guide to produce his own. I remember Tweeting about it, and I was pissed. Chris even shot back on Twitter, suggesting that I chill out. After a day or so, I did. But first I called the guy, and told him in no uncertain terms that if he scraped anything from my eBook, my attorney would be getting involved.

In hindsight, I now know that I wasn’t following what Chris teaches. He feels that there’s enough business around for all of us, and that if we just do good work, things will turn out just fine. I also remember a one hour phone call that I had with Liz Strauss . When she suggested that I do what Chris does, and, “Put everything I do out there…the step by step-specifics of how I work with franchise buyer’s, etc.” She then added that “My business would change.” She also said that my supposed, “competitors” were probably too lazy to use all the techniques that I use, and that, “Joel is Joel.” In other words, I have my own unique style. I have my own unique way of looking at things. There’s no one like me.

Google+ and Chris Brogan’s New Book

Let’s do some controversy. Okay?

So, Chris decides to hunker down for two weeks and learn all he can about Google+. He locks himself in his secret igloo at an undisclosed location. No one bothers him. No one human, that is.

Igloo

Click Here For Images &
Igloo PicturesPictures

Chris learns. And learns. He knows that the folks at Google will eventually open their new social networking platform up to businesses. Chris isn’t sure exactly how they’re going to do it, but he knows it’s coming.

He learns enough, (more than enough, actually) to put together several “how to” blog posts so that whoever wants to learn how to set up a Google+ account properly, can do so. His blog posts on how to set-up and optimize Google+ are wildly successful, and very, very, helpful.

Then Chris decides to offer a webinar for small business owners on;

Google+ for Business


 (Aff link)

And, he gets crap for it.

Here’s a guy who takes the time…lots of time,  to learn Google+. Then he has the nerve to charge people for his expertise. Crazy.

“But Joel, Chris put on his webinar before Google+ even rolled out it’s business pages.” And?

I happen to think that offering his non-free webinar was a great business decision. Not only did Chris make some profit for his efforts, he got a book deal.

Chris recently finished his book on Google+. (I think it’s done!) I wonder how many people that have been bitching about Chris’s webinar have book deals.


I’ve made some really good friends, and wouldn’t have as many if it wasn’t for social media. It’s enabled me to meet people from all over the world. It’s brought me some success. (I’m just warming up) Chris, and others in the social media sphere…the ones that are on the speaking circuit, the ones who are consulting with businesses, big and small, are helping lots of us to keep our lights on during this period of economic uncertainty.

Thanks for everything you do, Chris. And, as I’ve told you on more than one occasion, I wish my Dad could have met you. He would have really, really, liked you.

Why Anita Campbell is a Royal Subject

 

Several years ago, Anita Campbell, the CEO and Editor in Chief of Small Business Trends, put out a call for small business experts. Her website was starting to gain some traction, and was getting known as the place to go for small business news, trends, and updates. Anita knew of me; I had started writing about franchising, and the blog you’re reading from right now was one of the first focused specifically on the franchise business.

 

Small Business Ttrends CEO, Anita Campbell

 

Well, I didn’t respond to her request for experts. So, she dropped me an email. She told me that I should really consider writing about franchising for smallbiztrends.com. When I told her, (via phone) that I didn’t feel that I was ready to write for her then-up and coming website/blog, she said that she’d help me become a better writer. I told her that I’d “think about it.”

 

I’ve been the Small Business Trends “Franchise Expert in Residence” ever since. My annual Top Franchise Trends post has become the most-read post related to trends in the world of franchising for a couple of years now. Business writers and reporters contact me for even more in-depth coverage on what I’ve suggested as being the current and upcoming trends, for months after I’ve written the post. It’s a great feeling to be one of their “go-to” sources for franchise industry-related trends, news, and opinion. Anita, thanks for staying on me to become part of the Small Business Trends editorial team. I’m grateful to you for giving me a shot. (I can’t wait for Anita to read what I wrote about her in the “acknowledgement” section of my almost-ready to be released book on becoming a franchise owner.)

 

Speaking of Books…

 

Anita, (along with David Langton) just wrote a book, too; Visual Marketing (John Wiley & Sons, Publisher.)

 

 

 

(Aff. Link)

 

 

In this cutting-edge book, Anita and David, (I just met David in-person at the New York Small Business Expo) offer, “99 Ways for Small Businesses to Market with Images and Design.” And they really do….

 

If you’re a small business owner, and would like to see examples and get ideas on;

 

  • Using images from your local community to set yourself apart

 

  • Combining modern logos that reflect old-world values

 

  • Incorporating your unique personality into your business website

 

  • Interesting ways to use word clouds

 

  • Using the proper images for your “cause”

 

And much, much, more, than this book is worth the investment.

 

 

Print Media is Still Kicking

 

 

Anita and David have an entire chapter focused on print, called, “Power to the Print Item!”

 

The internet has certainly changed print; how it’s being used, and how it’s not. Do you still see posters around? So do I. This chapter shows several examples of how to use posters in a business setting.

 

In the franchise industry, lots of franchisors are using web-based brochures to entice would-be franchisees. But not all of them; some still use printed versions to send out to their franchise candidates. Some people really like the look and feel of printed materials, whether they’re brochures, or postcards. You may find it hard to believe, but today’s consumers and business customers still like to get mail. Real mail. Delivered by their local postal carrier. You just have to find a way to make it stand out.

 

This book on visual marketing, (brilliantly titled, “Visual Marketing“) offers one stunning example after another of how to do it….how to make your small business stand out by using pictures…colors, and even the right fonts. Reading this book serves a reminder to all of us on the importance of first impressions in our businesses. Great visuals can provide them.

 

Stop by visualmarketingbook.com and “see” for yourself.