Thomas Paine, an English-born American political activist wrote The Entrepreneur’s Creed. He also authored two of the most influential pamphlets, Common Sense (1776) and The American Crisis (1776-1783) at the start of the American Revolution and helped inspire the Patriots in 1776 to declare independence from Great Britain.
I find it interesting that Paine somehow looped in entrepreneurship with the politics of the day. It almost sounds similar to what’s going on across our great country today. Especially, as it’s been repeatedly stated that entrepreneurship is the backbone of American ingenuity, and it will be entrepreneurship that will drive our country’s recovery.
Yes, it’s interesting in that I see things coming full circle since 1776. It’ll be even more interesting to see if the next 250 years will parallel American History. Freedom. Independence. Entrepreneurship. The combination of the three… What a novel idea!
Most of the articles I have read about the difference between dreams and goals essentially state that dreams are in the mind while goals are reality. For example:
Dreams are something you create in your mind that can take any shape or form, while goals are based on taking action. With goals, a lot of focus and attention is needed. Dreams, on the other hand, don’t need that kind of focus. You can sit for hours and dream without doing a single thing about it.
In between thoughts of projects, deals, challenges, achievements, stress, pressure, successes, failures, and setbacks is a place for dreams. I have found it beneficial to dream as a way to calm my mind and put things in perspective. It helps to motivate me, if by nothing else but to provide a push or even a nudge.
My dreams provoke memories, like that one special time and the events leading up to it, providing inspiration to replicate the success of the day. As well, questions about abandoning a dream also come to mind.
I find that dreams also tend to showcase the Whys in my life. How will they benefit if my dreams come true?
It’s good to dream. It’s essential to our well-being. Dreams are inspiring as they enable us to see what we might not see otherwise. Walt Disney said, “If you can dream it, you can do it.” Unless the dream is based upon fantasy or something that is clearly based upon extreme, unrealistic physical attributes, I do agree with Disney. I know. I know. Wasn’t Disneyland built around and upon fantasy? Yes, and no.
Yes, Mickey Mouse and friends surely fit the bill of fantasy as does the premise of Fantasy Land and many other things associated with Disney. However, Disney’s dream was of creating something tangible and certainly, real. His dream was best explained with the following, now famous, words as Disneyland transitioned from dream to reality:
“To all who come to this happy place: Welcome. Disneyland is your land. Here age relives fond memories of the past…and here youth may savor the challenge and promise of the future. Disneyland is dedicated to the ideals, the dreams and the hard facts which have created America … with the hope that it will be a source of joy and inspiration to all the world.”
Walt Disney’s goal was his dream, and vice versa! Key was his ability to visualize his dreams coming true. I believe this to be true, because dreams often enable us to expand detail we may not have yet thought about or realized. Dreams are more vivid than drawings and sketches. One could only imagine what went on in Disney’s mind as he slept.
Of course, as American Author and Thought-leader John Maxwell says, “Dreams don’t work unless you do.” So, listen to your dreams. Write down your thoughts as you arise in the morning. Make note of colors, music and anything that stands out. Try to recall as much detail as possible. Turn your notes into an action plan and then a business plan. Then, get to work making your dreams come true.
To all fathers who fulfill their responsibilities as a parent and are always there for their children, thank you.
To all grandmothers & grandfathers that help to raise their grandchildren, thank you.
To all stepfathers who treat their wives’ children as their own, thank you.
To all relatives & friends who have taken on the father-figure role in a child’s life, thank you.
To all mothers doing it all alone on behalf of a child, thank you.
To all of the above, today is for you… Thank you!
Sundays at Acceler8Success Cafe
Sundays at Acceler8Success Cafe is the time for looking back over the past week. It’s a time for review as with so much going on at Acceler8Success Cafe I know it’s easy to miss a newsletter or two. Possibly my Question of the Week slipped by without you noticing, or an announcement I may have made just seemingly got lost amongst the busy news feed.
Just like an experience at your local cafe, I really want Acceler8Success Cafe to be conveniently located when you desire or need to relax, enjoy a cup of coffee, and catch up on some reading. My goal is for Acceler8Success Cafe to be your virtual cafe. A place where you may frequently visit to enjoy a few minutes to yourself. I’d like the experience to be memorable by providing learning opportunities, by presenting a different perspective & insight, by spurring thought & reflection, by encouraging interaction, and by spotlighting topics that, frankly, may not be as front and center as they should or need to be.
Acceler8Success Cafe is open for business seven days a week. For the benefit of current & aspiring entrepreneurs, this daily newsletter is delivered each morning. As a way to jumpstart the week ahead, a weekly review is delivered each Sunday morning listing and linking to the articles you might have missed during the previous week. My goal is to provide an opportunity for you to begin the new week informed and with ideas that possibly could accelerate your success.
A while back I had posted a question on LinkedIn, “Are Franchisees personally responsible for their own success or failure?” In today’s Acceler8Success Cafe newsletter, I’ve listed several of the responses from a cross-section of professionals that I believe provide some very interesting perspectives. I’ve also asked whether franchisees are entrepreneurs. Thanking you in advance for your perspective on both questions.
I’m often asked to help salespeople succeed. Whether in business or franchise brokerage, or in any professional sales setting, the fundamentals are essentially the same. Listed within today’s newsletter are various points I make in a typical sales training workshop including 30 Rules of Sales Success and 5 Degrees of Failing followed by two sets of questions about why salespeople fail and whether you were born to sell.
Is there a difference between inspiration and motivation? Yes, I know there is. But does it matter when in the moment of being inspired and/or motivated?
Question of the Week: What inspires and motivates you?
Are current problems experienced by business owners recurring over and over again because they’re being addressed from the perspective of how things were done prior to the pandemic as opposed to addressing things based upon what really has become a changed business environment? Has the new norm ended and instead of evolving, key parts of the business have changed almost overnight? Will moving forward be based upon reacting to recurring issues, or should a proactive approach be taken to address what has clearly become the here and now, the way it is… now?
Considering the popularity of TV reality shows like Shark Tank, The Profit and Undercover Boss along with series like Billions and Succession and how business moguls (entrepreneurs) are depicted in the movies, it’s easy to realize how entrepreneurs in general have been stereotyped into the minds of many considering entrepreneurship today. But is it doing more harm than good?
Announcement: The Acceler8Success Group has partnered with Benetrends Financial to help jumpstart your entrepreneurial journey!
Funding is one of the most important aspects of buying a franchise or business. Benetrends has been funding America’s entrepreneurs for over 35 years, offering a comprehensive suite of funding options covering nearly every type of business situation. The most popular programs are the Rainmaker Plan® (IRA/Rollover) and SBA small business loan programs.
And Benetrends continues to provide out-of-the-box funding solutions with The Rainmaker Advantage Plan®, a corporate capitalization strategy modeled after the Rainmaker Plan, that is designed to mitigate or eliminate the taxes due on the sale of a business. Benetrends also offers Securities Backed Line of Credit and Equipment Leasing.
Freedom to do what I want to do. Control my own destiny. Spend more time with my family. Take more vacations. Play golf as often as I’d like. To be able to answer to no one. These are just some of the statements I hear all too often from individuals that want to be an entrepreneur. Or think they do!
When I ask them to define entrepreneurship, almost all respond with their thoughts of glory, reverence and the materialistic aspects of success. I ask them to tell me what they believe an entrepreneur looks like. It’s interesting to hear most describe a middle-aged male wearing dark, fashionable clothes. They describe this person as having a tan and wearing sunglasses. Seemingly, they wear sunglasses all the time. Many reference the look of Mark Cuban and Ralph Lauren.
They describe entrepreneurs as being very cool and relaxed. Open collar shirt or expensive t-shirt is the order of the day along with a dark sports coat or suit jacket. Yet, they’re emphatic that it’s not what had been previously labeled as traditional business wear. Definitely no ties. Several were adamant that a golf-type shirt was unacceptable, especially with a country club logo. Although, a polo shirt with a name brand logo would be acceptable some days.
Interestingly, the responses are very similar from those 30-55 years old. The under-30 crowd are more inclined to describing a young celebrity appearance as their entrepreneurial success look. More interesting are the similar responses from men AND women. When I push women a bit to share their thoughts about the look of a successful female entrepreneur, I have found they tend toward explaining how the female entrepreneur acts, as opposed to how they look. It seems like they’re describing the Meryl Streep character in the movie, A Devil Wears Prada.
Considering the popularity of TV reality shows like Shark Tank, The Profit and Undercover Boss along with series like Billions and Succession and how business moguls (entrepreneurs) are depicted in the movies, it’s easy to realize how entrepreneurs in general have been stereotyped into the minds of many considering entrepreneurship today. Even across the Real Housewives franchise where some of the wives and most of the husbands have achieved varying levels of entrepreneurial success, the influence about entrepreneurship is front and center.
Sadly, what isn’t realized or showcased is the work and effort it takes to achieve entrepreneurial success. And what about the risks and hardships of being an entrepreneur? Dare I mention failure as an entrepreneur and its potential ripple effects?
That has me thinking, is entrepreneurship ultimately being harmed by misperception of what entrepreneurship is really about – launching ideas, taking risks, solving social problems, innovating, creating jobs, etc.? As such, are tomorrow’s entrepreneurs being set up to fail due to these misperceptions? That’s a scary thought considering the popular opinion that it will be entrepreneurship that will save our great nation.
I know I’ve shared this video before, but I believe it’s worth sharing again… and again, and again.
According to Dictionary.com, ‘new normal’ is considered one of the top eight words or phrases people absolutely never want to hear again. The phrase ‘new normal’ is an oxymoron typically used to indicate a life event that is out of the ordinary and has a long-lasting or permanent impact on someone’s day-to-day routine. For instance, a couple who just had their first baby might tell friends and family they’re adjusting to their new normal.
But using the phrase to describe efforts to fight a global pandemic implied a sense of permanence that made a lot of people uncomfortable. This may have been one time when it was better to challenge ourselves to find a new phrase, rather than relying on one we already knew. If you check Thesaurus.com for synonyms for new and normal, you come up with, strange routine, unusual standard, and unfamiliar order. Those all seemed to better capture the inherent strangeness of the time.
Well, enough with new normal, and this from a person (me) who wrote what turned out to be a very popular article by the same name for the restaurant industry as lockdowns became the order of the day. If you’re interested, you can read that article which had been picked up by a number of publications HERE.
I was recently working with a client in evaluating her and her husband’s business with the intent of launching their brand into franchising. Their two quick service restaurants survived the pandemic quite well. Take-out and delivery kept both locations afloat as their small dining areas had been closed. They were very diligent in keeping their employees protected having made the investment to have plexiglass partitions installed at the counters. Packaging was improved for customer safety.
A decision had been made to use the time to make improvements. Kudos to these business owners! Both locations were remodeled. Equipment was evaluated and several items were replaced. Many parts of the business were addressed to improve the customer experience as well as to improve revenue and profitability. This included a new website, an improved social media and branding strategy, a revamped loyalty program, and expanded local marketing efforts.
As supply chain issues raised an ugly head, efforts were taken to supplement and offset shortages. Menus were evaluated and modified accordingly. Several new items were tested to provide additional offerings with both business profitability and customer satisfaction in mind. The key to all of this was my clients’ focus on emerging from the pandemic period on an upswing.
They made the right decision. Their efforts proved fruitful. Yet, there has been recent concern as to what had been considered new norm problems remaining, seemingly requiring frequent attention. I had been hearing similar stories from other business owners. It appears the type of business doesn’t matter as the stories were consistent.
It got me thinking, are these problems existing because they’re being addressed from the perspective of how things were done prior to the pandemic as opposed to addressing things based upon what really has become a changed business environment? Has the new norm ended and instead of evolving, key parts of the business have changed almost overnight? Will moving forward be based upon reacting to recurring issues, or should a proactive approach be taken to address what has clearly become the here and now, the way it is… now?
After carefully reviewing the issues, it appeared obvious we needed to address today’s business as just that, today’s business, not yesterday’s business. It meant looking at the business as if it were being started today. In other words, not being reactive to the way it was and slightly adjusting but to look at it as being a new business.
For instance, if the business were started today; What would be on the menu based upon current supply chain and cost factors? How much would you need to pay employees today? What would you need to do to create a great customer experience? How would you attract customers to your new business?
Essentially, if your business were started today, you would need a current business plan, not the one you had when you first started your business 3-5-10 years ago.
So, the answers to the questions above must be the guidelines for today’s business. Sure, you’re probably thinking I’m crazy. For example, how could a business afford to raise employee wages from $10 per hour to $15 or $20 per hour? If the business were started today, it wouldn’t be a question because it is what it is. Other examples would play out the same.
The bottom line is it is necessary to evaluate your business as if you were starting it today. Use that as your baseline. Tweak your systems, processes, and procedures according to that baseline instead of from what the norm was previously, or that had evolved into the new normal. Proactively transform your business for today.
Maybe it means doing business with less employees. Maybe it means reducing or changing product or service offerings. Maybe it means a shift in how to attract customers or clients. Maybe it means revising certain processes in delivering products or services. Maybe it means looking at the business as if you were buying it today. What would you change?
The list goes on, but the answer really is it means doing all of it. It means looking forward, not looking back. It’s the only way to win. Otherwise, the best one can hope for is a tie.
I’ll admit, I often interchange motivation and inspiration. Actually, because I do, I find that I use both words together in a sentence. For instance, what motivates and inspires you? Maybe it’s because what motivates me, typically inspires me, as well. And what inspires me, often motivates me. Is that wrong? Maybe it is according to the definition of both words, but I find it works for me. It’s akin to a 1-2 punch. They work well together. In any event, it works for me. However, maybe it doesn’t work for you.
Inspiration is defined as, the process of being mentally stimulated to do or feel something, especially to do something creative; a sudden brilliant, creative, or timely idea.
Motivation is defined as, the reason or reasons one has for acting or behaving in a particular way; the general desire or willingness of someone to do something.
Kelly Slater, an American Surfer states, “Motivation is temporary. Inspiration is permanent.” A very concise message, to the point. Six simple words. Yet, I believe there’s much more to the spirit behind being motivated or inspired. Or should I say, motivated AND inspired?
The following quote from Dean Bokhari, a writer & speaker about personal development, meaningful work + mastery presents a different perspective:
Some may look at Bokhari’s quote and think it’s just Salter’s quote further defined. I don’t see it that way. I believe Slater’s point is more a black & white issue, an either this or that scenario. Bokhari’s quote speaks to me of a yin & yang (most think it’s ying & yang) scenario, working together, complementing each other, reinforcing, if you will.
According to Wikipedia: in Ancient Chinese philosophy, yin and yang is a Chinese philosophical concept that describes how obviously opposite or contrary forces may actually be complementary, interconnected, and interdependent in the natural world, and how they may give rise to each other as they interrelate to one another.
From World History Encyclopedia: The principle of Yin and Yang is that all things exist as inseparable and contradictory opposites, for example, female-male, dark-light and old-young. The pairs of equal opposites attract and complement each other.
As the Yin and Yang symbol illustrates, each side has at its core an element of the other (represented by the small dots). Neither pole is superior to the other and, as an increase in one brings a corresponding decrease in the other, a correct balance between the two poles must be reached in order to achieve harmony.
I read an interesting article, “The Important Difference Between Motivation and Inspiration” by Rob Holman. He is an internationally recognized leadership expert, executive coach, keynote speaker, and bestselling author who has a heart for authentic relationships and a true talent for equipping people with the skills and the knowledge necessary for their success. He states:
“For years I thought that inspiration and motivation meant the same thing. But the more I thought about it, did some research, and became a student of people, the more I came to believe there’s a very important distinction. The subtle difference between the words can make a world of difference in leading people.
Merriam-Webster defines inspiration as follows: “Something that makes someone want to do something or that gives someone an idea about what to do or create.”
Here’s what it says for motivation: “The act or process of giving someone a reason for doing something.”
Inspiration is more a person reaching a point of wanting to act, whereas motivation is more of giving people reasons to act. That’s the difference between babysitting and empowerment, incentives or influence, fire-starters and fire extinguishers.
There is a need for both inspiration and motivation. But to lead effectively, knowing the difference makes a tremendous difference.
When we try to motivate people by using positive incentives, and perhaps even some negative tactics, that’s using outward things to enter the heart where real change takes place. This can work to some degree, but the effect is often temporary.
When we try to inspire people, we’re reaching for the heart in a way that the person is changed from the inside out. When people want to change because there has been a deep stirring in their heart, it’s sustainable and leads to long-term vibrancy.
There was a time in my life when I consistently sought encouragement from others as my main source of motivation. Sometimes I’d get it, other times I wouldn’t. I needed the encouragement to perform well.
Then I began to be inspired by a purpose-driven challenge in my life, as well as some individuals who helped me understand that what I do should not define who I am. This changed everything.
With motivation, I was looking for reasons to be a better me to maximize performance. With inspiration, I understood who I was and, as a natural byproduct, I was able to accomplish things that I never thought were possible.”
Maybe I’m off base here, but I’m starting to realize a difference in the meaning of both words but only as it applies to the act of doing something for the benefit of others as opposed to for one own’s benefit. Meaning, to motivate and inspire others appears to be different than being motivated and inspired.
In any event, when I feel inspired, it motivates me to do something. When I see that my coaching creates excitement for my client or even just a glimmer of hope, it motivates me to expand my reach to help others. If I’m motivated by a motivational speech, it inspires me to take my own personal thoughts regarding the speaker’s topic to a new level. In both cases, I feel both inspired AND motivated.
Is there a difference between inspiration and motivation? Yes, I know there is. But does it matter when in the moment of being inspired and/or motivated? I guess it comes down to something that is quite simple which is whether it provokes thought and confidence in taking action.
There are a lot of things that can provide inspiration AND motivation – seeing other people accomplish great things, seeing others overcome adversity, speeches & quotes from great people, the written word (books, blogs, etc.), and even the sheer beauty of nature can inspire and motivate us… while also reminding us just how lucky we are to be alive.
Question of the Week: What inspires and motivates you?
I’m often asked to help salespeople succeed. Whether in business or franchise brokerage, or in any professional sales setting, the fundamentals are essentially the same. Listed below are various points I make in a typical sales training workshop including 30 Rules of Sales Success and 5 Degrees of Failing followed by two sets of questions about why salespeople fail and whether you were born to sell.
As you’re reading through the questions, make note of your answers. Following each of the two questions is a simple grading system. See how you rank. Be honest with yourself as you’ll only be deceiving yourself if you act otherwise. If you’d like to discuss your results afterwards, feel free to reach out to me.
30 Rules of Sales Success
Establish rapport and client confidence
Establish and maintain a positive attitude
Believe in yourself
Make a plan…set and achieve goals
Learn and execute sales fundamentals
Understand the client and meet his/her needs
Sell to help
Establish long-term relationships
Believe in what your selling
Always be prepared
Always be sincere
Be on time for calls, appointments and follow-up
Look and sound professional
Use humor strategically
Master total knowledge of what you’re selling
Sell benefits, not features
Always tell the truth
Always keep your promises
Don’t dog the competition
Listen more than you speak
Anticipate responses – statements and objections
Overcome objections
Ask for the sale
Shut up after asking closing question
If sale not made, make firm appointment for follow-up
Follow up… Persist until you succeed
Redefine their rejection
Find your success formula through numbers
Do what you do passionately
Create positively memorable experiences at all times
5 Degrees of Failing
Failing to do your best
Failing to learn the science of selling
Failing to accept responsibility
Failing to meet pre-set goals
Failing to have a positive attitude
Why do salespeople fail?
Answer YES or NO…
I watch the news for I hour each day.
I read the paper each day.
I read a news magazine every week.
My work is a drag.
I get angry for an hour or more.
I talk to and commiserate with negative people.
I look to blame others when something goes wrong.
When something goes wrong or bad, I tell others.
I get angry at my spouse and don’t talk for more than 4 hours.
I bring personal problems to my work and discuss them.
I expect and plan for the worst.
I’m affected by bad weather enough to talk about it
How did you do?
0-2 yes answers: You have a positive attitude.
3-6 yes answers: You have a negative attitude.
7 or more yes answers: You have a problem attitude.
Are you born to sell? No, you learn to earn!
Answer YES or No…
I have set my goals in writing.
I have good self-discipline.
I am self-motivated.
I want to be more knowledgeable.
I want to build relationships.
I am self-confident.
I like myself.
I love people.
I love a challenge.
I love to win.
I can accept rejection with a positive attitude.
I can handle the details.
I am loyal.
I am enthusiastic.
I am observant.
I am a good listener.
I am perceptive.
I am a skillful communicator.
I am a hard worker.
I want to be financially secure.
I am persistent.
How did you do?
Answer over 15 with an honest yes and you’ve got what it takes.
Between 10 and 14, it could go either way – better chance if you answered yes to knowledge, enthusiasm, self-confident, perceptive, self-motivated, persistent)
Under 10… well, a career in sales is most likely not for you!
Today is June 14, 2022. It’s Flag Day. It’s the annual holiday that celebrates the symbolism and history behind the American flag each year.
The Continental Congress introduced the American flag in the middle of the Revolutionary War at a time when each colony or special interest had its own flag.
The Declaration of Independence made the introduction of a universal American flag necessary.
Congress made a resolution on June 14, 1777, outlining the purpose for a united American flag for the 13 colonies: “The flag of the United States shall be thirteen stripes, alternate red and white, with a union of thirteen stars of white on a blue field …”
In 1885, a schoolteacher by the name of Bernard J. Cigrand encouraged his students to reflect on the symbolism behind the American flag.
Eventually, he came up with a proposal to establish an annual observance for the nation’s flag and penned an article called the “Fourteenth of June” in the Chicago Argus newspaper. To this day, he is regarded as the “Father of Flag Day.”
Many Americans celebrate Flag Day by displaying the red, white, and blue flags with 50 stars and 13 stripes in front of homes and businesses.
Some towns and cities hold parades and other events to celebrate the flag, and the American flag is flown at all government buildings.
Flag Day is not an official federal holiday, but its observance is proclaimed every year by the president of the United States.
*Credit to Katherine Rodriguez and NJ.com
My final thought for the day…
The sky is just like life. Some clouds are fun to look at as our imagination creates figures out of the clouds. Others are menacing and even scream at us at times. Sometimes there’s the calm before the storm. Other times the combination of fascinating colors depicts the end of the day and thought of the new day ahead. But what I find most exciting is when clouds part and we see some light, some blue skies ahead… creating hope things will turn out okay. At times they may be dark for days but if we just wait for it, blue skies are always ahead!
A while back I had posted a question on LinkedIn, “Are Franchisees personally responsible for their own success or failure?”
Below please find several of the responses from a cross-section of professionals that I believe provide some very interesting perspectives. Certainly, ones that may be different from franchise professionals that may be too far into the forest to actually see the trees, or of the franchisees that would rather point the finger of blame at someone else rather than at themselves.
As I have done in the past, the names of the responding individuals will be kept confidential. Instead, they will only be identified by their LinkedIn statement or profile.
The president of an HR consulting firm responded, “Franchising quickens the start-up of a new business operation with a systemized model. But in the end, a franchise is a business like any other. Each business owner is responsible for the success of their business. Drive, ambition, courage, determination and a keen focus on sales and marketing is critical. You reap what you sow.”
An operations manager from the telecommunications industry added, “I have the fortune of working with some great franchises in a manner where both the franchisees and the franchise are clients. As others have said, it is a combination of what is provided by the franchise and effort on the side of the franchisee. One could write a series of books on the subject; however, I feel that proper guidance and training are more vital than even advertising when it comes to a good ratio of successful franchisees. Often, I will see even the highest revenue producing franchisee left alienated by a brand, it is not uncommon for some franchisees to not even know who the current regional contact is for their brand until there is a problem. On the other hand, I have seen franchises that provide complete packages for their franchisees including market research, technology like database, PBX, and websites, corporate trainers that are easy to contact and on a first name basis, and most importantly a feeling of partnership where the owner often makes contact for advice, ideas, and information. The right franchise provides two vital resources to a business owner: 1. Instant name recognition and consumer confidence. 2. Tools enough for a business owner to focus on growing his business and not burdened with reinventing solutions to common problems.”
Finally, an expert in the HR field stated, “They are totally responsible for their own success or failure. If the franchiser does not support them, they have to remember they are the ones who made the decision to buy the franchise. They decided who to hire and to approve the location. If the system is not working, then figure out what needs to happen and make it happen. When you buy a franchise, you do not buy a job you buy a business. Would you let your employees blame it on you if they did not produce?”
As I read through the responses, I realized that several were adamant that the fact individuals invested money with a franchisor, they should be guaranteed success. Others pointed toward franchisees being different than entrepreneurs who know there is risk. Does that imply that those investing in a franchise don’t realize there is a risk when investing in any type of business, even if the investment is made by a successful entrepreneur?
And that brings to mind, the off again, on again discussion about whether franchisees are entrepreneurs?
Are Franchisees Entrepreneurs?
In business circles we frequently hear and make reference to “entrepreneurial spirit.” It’s this spirit that drives an individual to taking risks, sometimes calculated, but not always. “Spirit” is often associated with “free.” Sir Richard Branson of Virgin Airways fame, among other successful business ventures, would definitely be considered a risk taker, an entrepreneur and free-spirited.
It’s often been said that individuals explore franchising due to it being less risky than starting a business from scratch as the franchise comes complete with a proven business system. The old adage about being in business for yourself, but not by yourself, creates a nice, warm sense of security that a franchise can ultimately provide.
Minimized risk. Proven system. Sense of security. Could you really see Sir Richard as a franchisee? So, if Sir Richard Branson epitomizes the true entrepreneurial spirit, my question is, “Are franchisees entrepreneurs?”
Come to think of it, I don’t believe I’ve ever seen the word, “entrepreneur” in a word cloud about franchising… Wait, there it is in tiny print next to the pinky finger!
I’m anxious to hear what franchise professionals, franchisees and others have to say. Please post your comments below. Thanks.
Sunday at Acceler8Success Cafe is the time for looking back over the past week. It’s a time for review as with so much going on at Acceler8Success Cafe I know it’s easy to miss a newsletter or two. Possibly my Question of the Week slipped by without you noticing, or an announcement I may have made just seemingly got lost amongst the busy news feed.
Just like an experience at your local cafe, I really want Acceler8Success Cafe to be conveniently located when you desire or need to relax, enjoy a cup of coffee, and catch up on some reading. My goal is for Acceler8Success Cafe to be your virtual cafe. A place where you may frequently visit to enjoy a few minutes to yourself. I’d like the experience to be memorable by providing learning opportunities, by presenting a different perspective & insight, by spurring thought & reflection, by encouraging interaction, and by spotlighting topics that, frankly, may not be as front and center as they should or need to be.
Acceler8Success Cafe is open for business seven days a week. For the benefit of current & aspiring entrepreneurs, this daily newsletter is delivered each morning. As a way to jumpstart the week ahead, a weekly review is delivered each Sunday morning listing and linking to the articles you might have missed during the previous week. My goal is to provide an opportunity for you to begin the new week informed and with ideas that possibly could accelerate your success.
78 years ago on June 6, 1944, thousands of Americans in unity stormed the beaches of Normandy and changed the course of World War II. Many lives were lost in the effort to keep the world free. In light of current unrest and discord I appreciate our freedoms even more than ever before. As the threat against freedom has again reared its ugly head, it will take unity to prevail once again.
Mistakes are a part of life. However, so is learning from mistakes. But if you could learn from the mistakes of others rather than your own, wouldn’t you? In this article we took a look at some common mistakes individuals make when exploring and investing in a franchise in order that you avoid them and improve your chances of success within your new business.
Business owners and entrepreneurs are not the only players responsible for building up the economy. If everyone doesn’t participate in the growth, then it will not spread and take root. There is one entrepreneur on the stage but there is also a cast of characters, orchestra pit, and the audience. Without those ecosystem stakeholders, change will not be successful.
An entrepreneur is defined as, “a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.” A businessperson is defined as, “a man or woman who works in business or commerce, especially at an executive level.” Although the two seem closely related, they actually differ on a major level.
Question of the Week: I don’t believe it could be argued that an entrepreneur is a businessperson. But I do believe it can’t be argued that not all businesspeople are entrepreneurs. So, what differentiates an entrepreneur from a businessperson?
Back in 2009 while in the midst of an uncertain economy, and a few times thereafter, I have shared this article and inspirational video. Almost every time I’ve done so I’ve heard from individuals thanking me and letting me know that it had helped them cope with difficult times. Recently, I heard from someone who reminded me of the original post and how much it meant to him back then and how he often refers to it when facing a current challenge. It made me think about how it might help others today as we’re once again experiencing economic uncertainty. Here’s hoping that sharing it once again may help a few more that may need some inspiration and hope that tomorrow will be better than yesterday.
“Weekends are days to refuel your soul and to be grateful for the blessings that you have.” – Anonymous
This quote from billionaire Dallas Mavericks owner Mark Cuban addresses the common dilemma of which field we should pursue in our entrepreneurial life.
Too often, we end up pursuing paths that aren’t optimal for our own lives, abilities, and interests. At the same time, it’s impossible to choose a perfect path in advance. Things will inevitably change along the way.
Given both the difficulty and importance of choosing a path in this life of ours, how do we go about putting Mark Cuban’s ideas into practice?
Ikigai. Have you heard of Ikigai? It’s a Japanese philosophy for finding a balanced life. Ikigai takes Mark Cuban’s quote and runs with it. To correctly follow Ikigai, you must seek a balance between not only what you love and are good at, but what the world truly needs, and you can also be paid for. This framework might help you find the way when considering different paths.
Regular Reflection. It’s important to reflect along the way during your entrepreneurial growth. Taking the time to sit back and assess whether you’re still in love with your work and whether your time might be better used elsewhere is an important part of the process.
Skills & Improvement. In order to remain good at something, we can never rest on our laurels. We need to remain committed to pursuing education and development anywhere we can. Once you’ve chosen a particular path, keep seeking ways to strengthen yourself while you walk it.
No matter which area of business you are in, Mark Cuban’s ideas are valuable. Always seek out exciting opportunities you love and have a chance to be skilled in.
Acceler8Success has partnered with Benetrends to jumpstart your entrepreneurial journey!
Funding is one of the most important aspects of buying a franchise or business. Benetrends has been funding America’s entrepreneurs for over 35 years, offering a comprehensive suite of funding options covering nearly every type of business situation. The most popular programs are the Rainmaker Plan® (IRA/Rollover) and SBA small business loan programs.
And Benetrends continues to provide out-of-the-box funding solutions with The Rainmaker Advantage Plan®, a corporate capitalization strategy modeled after the Rainmaker Plan, that is designed to mitigate or eliminate the taxes due on the sale of a business. Benetrends also offers Securities Backed Line of Credit and Equipment Leasing.
You must be logged in to post a comment.