Category: Acceler8Success Cafe

It’s a Franchise Buyer’s Market!

June 3, 2022 ·

There’s no doubt, the past two and a half years have been a bit odd, to say the least. The encouraging news for franchising – for the most part it continues to grow! This is very good news not only for those of us that spend the greater part of every day in franchise development, but for the economy, as well!

But I do believe franchisors must be prepared. Besides handling what I believe will be an increase in inquiries from a wider segment of the population than we’ve seen before, but in working effectively with today’s franchise candidates who are more diligent, cautious and sophisticated than ever before. And certainly, more tuned to social issues, personal well-being, and of course, flexibility and work/life balance. Expectations could not be higher!

Many of today’s candidates are voluntarily or involuntarily unemployed, soon to be unemployed, or may just want to do something more rewarding, spiritually or otherwise, or to [finally] control their own destiny. With economic uncertainty abound, many are approaching business ownership with the attitude that they will not fail, and besides, failure is not an option. To that end, today’s candidate is well-prepared to do his or her homework, dive into research, taking due diligence to a higher level, which really is as it should be, right?

However, working with these candidates, franchise professionals must be extremely diligent themselves in presenting the franchise opportunity all the way through to executing the franchise agreement, and beyond into the franchise relationship. I know, many franchise professionals are probably thinking they already do that. Besides, it’s the law to fully disclose the opportunity, right? They’ll go on to state they’ve always done things by the book, at all times. Blah, blah, blah!

It really doesn’t matter what was done in the past, how it was done, why it was done, or even having the belief all is being done right today. What matters is ensuring individuals inquiring today receive timely, focused attention across multiple communications channels. After all, it’s not uncommon to communicate with today’s candidate via phone, online meeting, text AND email almost simultaneously, seemingly bouncing from one to another and back. Today’s candidates not only expect this, but they also command it as it’s the level of communications they’ve grown accustomed to.

Focus on communications and diligence from both parties is a must in order for an astute transitioning corporate executive or well-educated young professional (or combination thereof between partners) to even consider a brand’s franchise opportunity, and especially amongst the growing number of franchise opportunities across a multitude of industries and industry segments. It’s a competitive market. It is a franchise buyer’s market!

And, if they ultimately do sign the franchise agreement, remit the franchise fee, and commit to investing a substantial sum of money, rest assured today’s franchisees will be even more inclined to expect and command a high level of accountability from the franchisor, and from the system itself. From themselves? Not likely as they will rarely blame themselves for any part of failure. But they will certainly hold others accountable, and possibly differently than would have been the case in the past. That same level of diligence and sophistication exhibited in the sales process will be increased exponentially if problems arise. Maybe even more if doubt and buyer’s remorse settle in.

Well, my fellow franchise professionals, it’s time to continue honing your communication skills and staying abreast of technology around today’s communications. It is time to study your franchise documents to understand and present it better than ever before. It’s time to fine-tune all aspect of operations with a keen eye to detail and examine and perfect your franchise sales process.

Any shortcomings will surely raise their ugly heads in the future if today’s new franchisees become dismayed, discontented, and or fail in their businesses. They will not hold themselves accountable. Instead, they will blame the person who “sold” them their franchise, or the operations department that they perceive to have provided little or no support, or the franchise executive that they feel showed no compassion in “forcing” them into paying royalties and advertising fees.

So, why did I turn what started out to be a positive regarding franchise interest and growth after a couple of years of uncertainty, and turn it into a picture of potential problems complete with gloom and doom?

Well, it’s to encourage and motivate every franchise professional to be on his or her A-game and as necessary to put their house in order. Not only to bring new franchisees and revenue into the system, but to continue to grow their system with franchisees that, when attaining a relative level of success, will refer new franchise candidates, validate the franchise system, possibly look to purchase additional locations in the future, and to keep franchising on solid ground. The alternative of course, is dedication of resources to dispute resolution, possible litigation, and toward uncertainty (whatever that may look like).

As you’re pondering whether you agree with my perspective or not, or whether you want to or will take your efforts to a higher level, below is something to think about. Of course, I do encourage comments and understanding your perspective regardless of if you agree or disagree.

Winners or Losers: Choices Are Made Everyday

The Winner is always part of the answer; The Loser is always part of the problem.

The Winner always has a program; The Loser always has an excuse.

The Winner says, “Let me do it for you”; The Loser says, “That is not my job.”

The Winner sees an answer for every problem; The Loser sees a problem for every answer.

The Winner says,” It may be difficult, but it is possible”; The Loser says,” It may be possible but it is too difficult.”

When a Winner makes a mistake, they say,” I was wrong”; When a Loser makes a mistake, they say,” It wasn’t my fault.”

A Winner makes commitments; A Loser makes promises.

Winners have dreams; Losers have schemes.

Winners say,” I must do something”; Losers say, “Something must be done.”

Winners are a part of the team; Losers are apart from the team.

Winners see the gain; Losers see the pain.

Winners see possibilities; Losers see problems.

Winners believe in win/win; Losers believe for them to win someone has to lose.

Winners see the potential; Losers see the past.

Winners are like a thermostat; Losers are like thermometers.

Winners choose what they say; Losers say what they choose.

Winners use hard arguments, but soft words; Losers use soft arguments, but hard words.

Winners stand firm on values, but compromise on petty things; Losers stand firm on petty things, but compromise on values.

Winners follow the philosophy of empathy: “Don’t do to others what you would not want them to do to you”; Losers follow the philosophy, “Do it to others before they do it to you.”

Winners make it happen; Losers let it happen.

~ Author Unknown

Have a great day. Make it happen. Make it count! And Happy Weekend!

Emerging Franchise Brands: Controlled Growth is Key to Initial Success

June 1, 2022June 1, 2022 ·

Having worked with many, many entrepreneurs exploring franchising as a business growth and expansion strategy, I’m often asked the question, “How does a new franchise company sell franchises without brand recognition?” Here are my thoughts…

Initially, the founder is the brand. It’s his or her passion for the business. It’s how he or she treats customers and employees alike. It’s how the business is promoted within the local market. Not just through typical advertising efforts, but through solid grassroots, organic efforts.

The initial franchise candidates are actually the “low hanging fruit” of the original business. These are the customers that inquire whether or not the business is a franchise and how they can learn more about owning their own. Most are interested because the business appears to be thriving and they’ve seen the owner (founder) time and again, always smiling and shaking hands. Public Relations efforts should ensure this occurs.

They admire the owner a great deal and will base their decision to open a franchise location, on the potential of establishing a relationship with the owner. They’ll compare the opportunity to other franchises and justify to themselves that they’re in on a ground floor opportunity with a direct line to the founder. As such, they feel their probability of success is greater because their location will be in the home office city and if they need help, they could easily approach the founder and the home office because of the proximity to their franchise location.

Ideally, the next few franchisees will also be in the same market as the original business and the first franchise location. It’s prudent to only expand locally until brand awareness begins to be achieved in the market and immediate suburbs or outlying towns, some semblance of an ad cooperative is developed for economy of scale, and support systems are perfected. Now the concept is ready to expand outside the initial market or hub.

However, it is often financial suicide to entertain requests from candidates all over the country. Instead, development efforts should be concentrated on one or two cities relatively close to the home office city. For instance, if original business and home office is in Houston, the natural progression would be to promote the opportunity next in San Antonio/Austin and Dallas/Fort Worth areas, and smaller markets in between.

My rule of thumb: Early-stage development should occur less than a 4-hour drive or a 2.5-hour flight from the home office market. Essentially, being able to provide hands-on support but still having the ability to make it back and forth in the same day or with just a one-night stay. Managing time is critical during initial development efforts.

As these markets start to become established with franchise locations, it’s advisable to promote the concept in another two or three markets. Maybe, explore another “hub” and “spoke” scenario. Let’s say, Greater Atlanta as the next hub.

Expansion efforts should be the same as they were in Texas and expansion out of that market shouldn’t occur until development moves from Atlanta to the suburbs – for instance, to Roswell, Alpharetta and beyond, for example to Savannah and Augusta. Then, as that occurs, the opportunity could be promoted close by in Nashville, Charlotte and Birmingham. Now, you see the spokes of national expansion beginning to form.

While this is going on, maybe inquiries start coming in from the Rocky Mountain Region. The Greater Denver Area would naturally become the hub as the gateway to Wyoming, Utah, Montana and into Idaho. Initially, locations should be developed in downtown Denver and out to the suburbs – Boulder, Centennial and even into Fort Collins and Colorado Springs. All the while building brand awareness.

It’s all about controlled growth and the founder exhibiting tremendous restraint in expanding too fast and in areas far away from his core group and subsequent hubs to be able to provide ample support, create ad cooperatives and build the brand geographically. Chances of franchise success are far greater at all levels of the franchise organization within the parameters of a controlled plan of development.

So, to answer the often-asked question directly, I suggest everyone in the system having a clear understanding of the founder’s vision. If it includes anything but a controlled development plan with his or her firm commitment to actively participate in the franchise sales process, the chances of selling the first ten to twenty franchises will be a frustrating, monumental task.

The results? Most likely the brand will immediately miss franchise development goals. Stakeholders will be upset as expectations are repeatedly missed. Before one knows it, the franchise system is scrambling to recover. Resources will be thrown at various ways to turn things around. Decisions will be reactive to the next fire that is burning or of a knee-jerk nature out of shear frustration. Little if anything will be done proactively with a plan. It’ll be akin to playing not to lose instead of playing to win. Although, I’m not sure what a tie relates to in business, so I must consider anything less than a win, a failure.

Other articles at Acceler8Success Cafe that are relevant to franchising include:

Ask Franchisees, “Would you do it all over again?”

Opinions, Insights & Perspectives on Franchising

Strengthen Franchise Relationships by Saying “Thank You”

Have a great day. Make it happen. Make it count!

Culture: A Work in Progress

May 31, 2022 ·

I do believe, in many, if not most cases, the level of business success contributes to the decision on whether or not a high performer is let go because their style is detrimental to the culture. In the case of a high performer in a business that is barely making it, that high performer probably stays. This situation works for the immediate time being but not for long-term growth. It’s difficult to build a team in this scenario.

A high performer with a bad attitude in an environment with other high performers, probably should go. But not without trying to get the person in line first. Bad attitudes are detrimental to team building. However, often times a bad attitude actually develops as a result of how people are treated by management, or by a particular manager. There are various other scenarios as well.

Culture lives and breathes in all organizations. It must be nurtured – fed and taken care of. If sick, the virus causing the sickness must be addressed. In the case of cancer, it must be identified, isolated and removed – making sure to properly treat closely affected areas to be sure of total elimination. If healthy, it must continue to be fortified – an immune system built, and new well-being programs developed.

At the end of the day, culture is a work in progress! It must be fluid. It must fill in the cracks and gaps and reach its own level. It must be understood by all. It must be allowed to grow. But it must be managed. The key is whether you do so reactively or proactively!

Recently, I read an interesting article about strategy and its effect on culture, “Why Strategy Matters and How it Influences Culture”. The author brought up several key points:

Does strategy matter?

If you do not think that it matters, then you are in good company. There are many who question the value of strategy. And I see many companies where there is no formal strategy; the informal strategy is to keep doing what has worked in the past or to chase what is fashionable today.

Strategy v Execution

When it comes to questioning strategy there are two schools that are particularly prominent. First, there is the school of execution. The execution school which says that strategy is waste of time. Why? Because strategies are generic-obvious and what matters is execution. The ability to turn strategy into the daily lives of the organization. Clearly, there is some truth in this school. Strategy which cannot be operationalized is waste of time-resource.

Strategy v Culture

Then there is the school that says, “culture eats strategy for breakfast”. Yes, culture is powerful. Culture determines what gets done and how it gets done. A strategy that does not take into account the fit with culture will meet lots of resistance. Getting people to enact such a strategy will be like fighting a guerilla war with an enemy who is patient and cunning. What is forgotten is that culture can be and is influenced-shaped-shifted through strategy.

To see strategy and culture as being separate and distinct is a gross misunderstanding. This misunderstanding arises due to our reductionist-analytical thinking. Strategy and culture are interlinked. Put differently, if you change strategy, you will take actions that will influence the culture. And if you change culture, it will eventually influence the strategy.

Corporate Culture as defined by Investopedia (aka Business Culture, Company Culture, Organizational Culture)

Corporate culture refers to the beliefs and behaviors that determine how a company’s employees and management interact and handle outside business transactions. Often, corporate culture is implied, not expressly defined, and develops organically over time from the cumulative traits of the people the company hires.

A company’s culture will be reflected in its dress code, business hours, office setup, employee benefits, turnover, hiring decisions, treatment of clients, client satisfaction, and every other aspect of operations.

A commonly used definition by Inc. Magazine

Corporate culture refers to the shared values, attitudes, standards, and beliefs that characterize members of an organization and define its nature. Corporate culture is rooted in an organization’s goals, strategies, structure, and approaches to labor, customers, investors, and the greater community.

Positively Memorable Experiences… They’re Not Only for Customers!

Several months ago, I shared my article, “Positively Memorable Experiences… They’re Not Only for Customers“. The focus of that article was on the franchisor / franchisee relationship, but the tenets of a strong relationship are paramount in developing a strong culture regardless of the organization, franchise or otherwise. The following 5 points are from that article and now shared here with some editing, making them applicable to relationships within any organization:

Understanding the true meaning and spirit of relationships. This must be shared and exemplified at every point of contact with all within the organization.
Developing the right culture at all levels. Be careful — culture is also defined as bacteria. This takes time and commitment, and is a reflection of how people, whether employees, suppliers or others, are treated at all times.
Creating an environment of truth, trust and transparency based upon open, two-way communication — the cornerstone of creating the right culture. Think of a three-legged stool that could hold a great deal of weight when fully intact yet would immediately fall under its own weight if one leg was compromised.
Establishing your organization as family. Treat them as such but understand that this is not the typical type of family of yesteryear with subservience to the head of the household. Mutual respect is paramount.
Building an environment whereby all are focused on mutual goals and objectives. All must sing from the same hymnal, and not just for dress rehearsal; be sure everyone has the hymn book; ideally, one that is based upon collaborative efforts.

Some may refer to the above as being great in theory, and not really practical. But just think what could happen if every touch point were seen as another opportunity to create or enhance positively memorable experiences. How would that change the culture of your organization? How would that lend credibility toward growing your organization? Think of the ripple effect.

Live it and breathe it every day for optimum results!

Memorial Day: Remember and Honor

May 30, 2022 ·

“America’s fighting men and women sacrifice much to ensure that our great nation stays free. We owe a debt of gratitude to the soldiers that have paid the ultimate price for this cause, as well as for those who are blessed enough to return from the battlefield unscathed.” ― Allen Boyd

The following is shared from the U.S. Department of Veterans Affairs.

Celebrating America’s Freedoms

The Origins of Memorial Day

Three years after the Civil War ended, on May 5, 1868, the head of an organization of Union veterans — the Grand Army of the Republic (GAR) — established Decoration Day as a time for the nation to decorate the graves of the war dead with flowers. Maj. Gen. John A. Logan declared it should be May 30. It is believed the date was chosen because flowers would be in bloom all over the country.

The first large observance was held that year at Arlington National Cemetery, across the Potomac River from Washington, D.C. The ceremonies centered around the mourning- draped veranda of the Arlington mansion, once the home of Gen. Robert E. Lee. Various Washington officials, including Gen. and Mrs. Ulysses S. Grant, presided over the ceremonies. After speeches, children from the Soldiers’ and Sailors’ Orphan Home and members of the GAR made their way through the cemetery, strewing flowers on both Union and Confederate graves, reciting prayers and singing hymns.

Local Observances Claim to Be First

Local springtime tributes to the Civil War dead already had been held in various places. One of the first occurred in Columbus, Miss., April 25, 1866, when a group of women visited a cemetery to decorate the graves of Confederate soldiers who had fallen in battle at Shiloh. Nearby were the graves of Union soldiers, neglected because they were the enemy. Disturbed at the sight of the bare graves, the women placed some of their flowers on those graves, as well. Today, cities in the North and the South claim to be the birthplace of Memorial Day in 1866. Both Macon and Columbus, Ga., claim the title, as well as Richmond, Va. The village of Boalsburg, Pa., claims it began there two years earlier. A stone in a Carbondale, Ill., cemetery carries the statement that the first Decoration Day ceremony took place there on April 29, 1866. Carbondale was the wartime home of Gen. Logan. Approximately 25 places have been named in connection with the origin of Memorial Day, many of them in the South where most of the war dead were buried.

Official Birthplace Declared

In 1966, Congress and President Lyndon Johnson declared Waterloo, N.Y., the “birthplace” of Memorial Day. There, a ceremony on May 5, 1866, honored local veterans who had fought in the Civil War. Businesses closed and residents flew flags at half-staff. Supporters of Waterloo’s claim say earlier observances in other places were either informal, not community- wide or one-time events. By the end of the 19th century, Memorial Day ceremonies were being held on May 30 throughout the nation. State legislatures passed proclamations designating the day, and the Army and Navy adopted regulations for proper observance at their facilities. It was not until after World War I, however, that the day was expanded to honor those who have died in all American wars. In 1971, Memorial Day was declared a national holiday by an act of Congress, though it is still often called Decoration Day. It was then also placed on the last Monday in May, as were some other federal holidays.

Some States Have Confederate Observances

Many Southern states also have their own days for honoring the Confederate dead. Mississippi celebrates Confederate Memorial Day on the last Monday of April, Alabama on the fourth Monday of April, and Georgia on April 26. North and South Carolina observe it on May 10, Louisiana on June 3 and Tennessee calls that date Confederate Decoration Day. Texas celebrates Confederate Heroes Day January 19 and Virginia calls the last Monday in May Confederate Memorial Day.

Gen. Logan’s order for his posts to decorate graves in 1868 “with the choicest flowers of springtime” urged: “We should guard their graves with sacred vigilance. … Let pleasant paths invite the coming and going of reverent visitors and fond mourners. Let no neglect, no ravages of time, testify to the present or to the coming generations that we have forgotten as a people the cost of a free and undivided republic.”

The crowd attending the first Memorial Day ceremony at Arlington National Cemetery was approximately the same size as those that attend today’s observance, about 5,000 people. Then, as now, small American flags were placed on each grave — a tradition followed at many national cemeteries today. In recent years, the custom has grown in many families to decorate the graves of all departed loved ones.

The origins of special services to honor those who die in war can be found in antiquity. The Athenian leader Pericles offered a tribute to the fallen heroes of the Peloponnesian War over 24 centuries ago that could be applied today to the 1.1 million Americans who have died in the nation’s wars: “Not only are they commemorated by columns and inscriptions, but there dwells also an unwritten memorial of them, graven not on stone but in the hearts of men.”

To ensure the sacrifices of America’s fallen heroes are never forgotten, in December 2000, the U.S. Congress passed and the president signed into law “The National Moment of Remembrance Act,” P.L. 106-579, creating the White House Commission on the National Moment of Remembrance. The commission’s charter is to “encourage the people of the United States to give something back to their country, which provides them so much freedom and opportunity” by encouraging and coordinating commemorations in the United States of Memorial Day and the National Moment of Remembrance.

The National Moment of Remembrance encourages all Americans to pause wherever they are at 3 p.m. local time on Memorial Day for a minute of silence to remember and honor those who have died in service to the nation. As Moment of Remembrance founder Carmella LaSpada states: “It’s a way we can all help put the memorial back in Memorial Day.”

Have a great day. Make it happen. Make it count!

Weekly Review May 22-28

May 29, 2022May 29, 2022 ·

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.

Personal Branding: It’s More Than a Buzz Phrase!

The process of personal branding involves finding your uniqueness, building a reputation on the things you want to be known for, and then allowing yourself to be known for them. Ultimately, the goal is to create something that conveys a message and that can be monetized.

“You You You” is as Important as “Location Location Location”

“Your personal brand is a promise to your clients… a promise of quality, consistency, competency, and reliability.” – Jason Hartman

Personal Branding for: (sales or biz dev title here)

This week as I’m focusing on Personal Branding, my thoughts wandered back to 2012 when I presented at the Franchise Brokers Association Conference & Expo. My presentation was appropriately titled, Personal Branding for Franchise Brokers. I recall many questions that essentially asked the same thing – What is personal branding and why is it important to me as a franchise broker or franchise salesperson (or business development professional)?

Question of the Week: How important do you believe personal branding is today?

Personal Branding Through Uncharted Waters

Entrepreneurs and Holiday Weekends

Wrapping up Mental Health Awareness Month

Mental Health Awareness Month is coming to an end. Hopefully, we’ve all learned a little more about mental health than we did before. Truly, it needs to be front and center, and we must all do our part to recognize and address it however we can for ourselves, as well as for others.

Remembering the tragic event in Uvlade, TX

Words cannot describe my thoughts and the sadness I feel… It’s all so senseless. How? Why? Both repeat through my mind. I think about these poor people – and of course, the children! I cry for them and their loved ones. I think of my own grandchildren – OMG I couldn’t even begin to imagine… it’s true that in an instant, life can change forever.

Instead of sharing our thoughts & prayers as we do EVERY time we hear about a tragic event, especially, seemingly after a mass shooting involving children, I’ve chosen to promote kindness to honor the victims and their families. Maybe, just maybe, by spreading acts of kindness, we can change the tide of isolation, loneliness, despair, hopelessness, lawlessness, godlessness, and yes, evil that ultimately is behind these dreadful, heartless acts. What we do makes a difference. Let’s all do our part, one act of kindness at a time.

Have a great day (and week ahead). Make it happen. Make it count!

Wrapping up Mental Health Awareness Month

May 28, 2022 ·

Certainly, the past couple of year has had us facing many uncertainties which, quite frankly took us on an emotional roller coaster. Mostly, the driving force has been fear. I’ve realized my own fear once I was able to admit being scared. Hey, at my age and the fact I’m not in good shape, I must be realistic. So, I’ve worked through my fear and in doing so, maybe I can overcome it. As fear is such a strong emotion that easily grips the soul, it will take time and patience to overcome such a grip.

Little by little I look forward to continuing to pry it away as fear is replaced by courage gained from confidence that fear is just a challenge to be conquered. The great thing is that some of the challenges don’t have to be tackled alone. Instead, collaborative efforts aligned with common goals truly exemplify the phrase, ‘strength in numbers’ and it’s that strength that ultimately conquers fear. Easier said than done? Possibly, but the alternative is being overwhelmed by fear and that, I’ve recognized is not living.

Need to talk through your fears, to determine how to tackle challenges you’re facing and, to clear your mind so you can explore possibilities? If so, I’d like to help. Please contact me on LinkedIn or drop me a note at paul@acceler8success.com. No obligation! And no one else needs to know!

Here are links to two articles published this earlier month on this newsletter that I feel are appropriate to share as we wrap up Mental Health Awareness Month.

Loneliness, Depression, Fear: All Contribute to Mental Health Issues

Mental Health: A Cause for Concern

Thanks for reading Acceler8Success Cafe. All my best for a safe, peaceful Memorial Day Weekend. Have a great day (and weekend). Make it happen. Make it count.

Entrepreneurs and Holiday Weekends

May 27, 2022 ·

We often hear about entrepreneurs being incessant about working long hours, never taking a day off, missing family functions, and essentially not having lives outside their own minds, and their work. Many have asked me if all of that is true? Well, for the most part it’s not true. Yet, there is some truth. Sure, some of it is myth as people just love superheroes and the stories about their seemingly superpowers including being able to function on little to no sleep.

Well, let’s dispel right now that entrepreneurs are anything more than human. Let’s dispel the myths that they can function without sleep, without rest, without knowing when to shut down for a day or two. But what we can do is learn from what makes them successful by ensuring sure they have the freedom and flexibility to do what they want to do, when they want to do it. It’s all about being positioned to have choices.

Award-wining author and entrepreneur, Richie Norton says it best, “Entrepreneurs don’t have weekends or birthdays or holidays. Every day is my weekend, my birthday, my holiday. OR every day is my workday. Mostly it’s a choice.”

Strategic Coach is one of the world’s leading organizations focused on entrepreneurial success. Within their resource section of its website is a blog post, Putting the Focus on Freedom. Of all the information about entrepreneurship that I have researched and read over the years, the opening question and statement in this post has become, in my mind the foundation of entrepreneurship to me:

“Why did you decide to become an entrepreneur? For most entrepreneurs, the answer is freedom. They wanted more freedom of time, money, relationship, and purpose when they took the leap to starting their own business.”

Another great organization focused on entrepreneurial success is The Lonely Entrepreneur. What I love about this organization and the writings of its founder, Michael Dermer is the reality of entrepreneurship and the inner workings of an entrepreneur’s mind.

There’s an article on The Lonely Entrepreneur website that always comes to my mind as a holiday weekend is in sight, What is an Entrepreneur? Dealing with the Holidays. This particular statement is embedded in my mind:

“As entrepreneurs, we have enough stress throughout the year trying to win customers, bring on employees, raise money and sign deals with vendors. We may have enjoyed, or even taken advantage of these breaks in our “past lives,” but once you become an entrepreneur, we can’t understand how this ever made sense. Most of us also don’t understand how the world could be so insensitive to our eﬀorts by taking time oﬀ when we need to get shit done.”

I highly value both organizations and certainly, I respect both Michael Dermer and Strategic Coach founder, Dan Sullivan. I know that both strive to help entrepreneurs succeed. Both have approaches that make sense. Both speak and teach from personal experience and long distinguished careers of helping others succeed – thousands upon thousands! Yet, each comes from a different angle, so to speak. But I do appreciate that!

It truly has been a blessing and a privilege to have been exposed to both organizations. I have learned so much, and yet, have so much more to learn so I’m extremely grateful to see both founders’ continued efforts and commitment to entrepreneurial success. For me, it helps me balance perspective in my own work, and balance in my personal life.

Freedom. Choice. Balance.

Freedom is defined as the power or right to act, speak, or think as one wants without hindrance or restraint.

Choice is defined as an act of selecting or making a decision when faced with two or more possibilities.

Balance is defined as a condition in which different elements are equal or in the correct proportions.

Do you see where I’m headed with this? Are you wondering, what does freedom, choice and balance have to do with entrepreneurs and holidays, the basis and title of this article? To some it may mean nothing. To others, as it does to me, it speaks volumes. But what it means to you is the correct answer.

Have a great day (and weekend). Make it happen. Make it count!

Personal Branding Through Uncharted Waters

May 26, 2022 ·

Economic uncertainty. Recession. Failing business. All would certainly depict challenging times, if not devastating times. For most, these are unchartered waters. Certainly, giving up is not the answer. Or, at the very least, it shouldn’t be the only option. But there are questions that must be answered. How to recover? How to navigate through difficult situations that seem to be piling up? How to stay positive through it all? More importantly, and most urgent is answering the question, how to be best positioned to survive, and thrive through it all?

Fortunately, in this digital age, there are many ways to showcase ourselves and our businesses, and with little to no cost. That is, if we’re willing to put in the effort. Not just words, but action, actually putting in the effort, committing to the task without fail. Because that is what it will take to work through unchartered waters, not knowing when the next big wave will appear out of nowhere.

Positioning is key. So, the first step will be to honestly evaluate everything about ourselves. What do we do best? What are our talents and skills? What have we achieved? What successes have we had? How can we help others? How do we want to be perceived by others? How can we convey it all to others? To answer these questions, it’s time to write a positioning statement about ourselves… a personal brand statement!

Influencer Marketing Hub defines a personal brand statement as, a catchphrase that says something about your expertise and what makes you unique. It gives people a quick glance into what you can do so they’ll be able to understand how you can be of benefit to them. And if it’s catchy enough, that’s how people are going to recognize and remember you.

It can be challenging to come up with a compelling personal brand statement. It has to be strong, descriptive, short, and catchy all at the same time. People reading the statement should know exactly what you can do and what you specialize in. It should also spark their curiosity and make them want to know more about your services.

You need to carefully choose the right words and arrange them the right way to get your message across effectively. But most of all, your personal brand statement should reflect your brand’s identity and values. In other words, it should be a reflection of yourself and your abilities.

Expand your digital footprint. Easier said than done? It really is easy, but it will take repetition. When performing a search of your name on Google, what comes up? Being constantly associated with a specific area establishes you as a leader or expert in that field. Find places to comment, share, speak on the topics you know most about. LinkedIn is a great place to showcase your expertise by answering questions, commenting, and sharing others’ posts with your insight on the same. Maximize the plethora of opportunities that being online affords you.

Essentially, you’ll be establishing competence in your field. Reinforcing it in writing by sharing your thoughts, asking questions, and engaging with people in a meaningful way will position you in the minds of individuals that may be able to use your services and that of your business. Being noticed quite often will lead to more interaction and eventually, connections. However, understand that developing connections must be earned. Meaning, you must continue to add value, true value for others.

Value is conveyed through your knowledge and experience, and how you’re able to convey the same. The same is true of your passion. As others realize your passion for the topic, the industry or whatever, it builds confidence and trust in you and in your abilities. It answers the question others may have, is this someone I’d like to do business with? Passion is your personal brand’s fuel, and it is contagious. Let your energy motivate those around you.

Think about ways you can use to showcase your knowledge and experience, and passion to market your personal brand. Whether that means facilitating a workshop, conducting a webinar, developing videos, submitting articles to bloggers, developing your own blog, increasing your social media activity, launching a podcast, and more, the list is seemingly endless in today’s digital world.

Again, self-promotion works well. Whatever you do from the ideas listed above, always promote across various platforms. Multiply your efforts. For instance, post your blog post on your social media profiles. Share your videos on YouTube as well as in your social media efforts. Have your podcast transcribed and turn it into a complementing blog and then share across social media. Always link back to your sites. Heck, start a LinkedIn newsletter!

There is great opportunity to learn, to gather information and to gain new perspective. And a huge opportunity to showcase yourself. After all it is about you. Your efforts will help you navigate through those uncharted waters, and will help you survive, and thrive as the waters calm down. It’s all at your fingertips at every turn in the digital space. However, you must invest in yourself. You must remain committed. Even if it means getting up at 4 AM to publish your newsletter each morning, weekends included.

Have a great day. Make it happen. Make it count!

Personal Branding for: (sales or biz dev title here)

May 25, 2022 ·

photo credit: Score

I started my presentation with a picture of a starting line at a race. The runners were all poised, ready to sprint forward when given the signal to do so. Although pointing in the same direction, their eyes were looking at different spots ahead of them. For whatever reason, they were focused on something of relevance to them. At this point, I discussed focus and the questions surrounding the same – the why, what, how, etc… After all, one must have a plan and these questions must be asked and answered to develop that plan.

I went on to discuss the importance of standing out. There were five points listed on the screen: 1. Perceived as an expert, 2. Improves search results, 3. Creates opportunities, 4. Builds confidence, and 5. Attracts resources.

Next on the screen was a look back at the way things used to be, affectionately referred to as the “Old days”. This slide listed the following obstacles or instances that prevented, hindered, made it difficult, or just the way it was to get in front of or to attract potential customers or clients including: 1. Stuck behind the counter, 2. “Rubber chicken” lunches, 3. Large PR or marketing budget, 4. Slow to grow business, and 5. Pay for resources.

To those who may remember Sam Drucker from the then popular TV shows, Petticoat Junction and Green Acres, I used his photo to discuss the old days. I also thought about Sam Drucker because he personified personal branding back in the day. He was known as the expert on, well, everything. After all, he had available for sale just about anything one might need in a small town. He was also very knowledgeable – just ask him the times the Cannonball train came through Hooterville or where Arnold the pig lived and went to school. He was the go-to guy. Certainly, Sam Drucker had a personal brand, even if he didn’t know it at the time.

Next, we discussed today’s franchise candidates, but it could certainly have applied to any potential candidate or consumer for whatever product or service you’d like them to consider and buy. Twelve years later, I believe my reference is much the same today. I described “today’s” candidates as, 1. More educated, 2. More sophisticated, and 3, More technologically advanced, than ever before. I also referred to these candidates as being, 1. More diligent, 2. More cautious, and 3. More anxious, than ever before. Note, 12 years ago we were in the throes of economic uncertainty similar to what is being experienced today.

We next saw on the screen a picture of a man on the ground hugging a lion. One of his hands was cradled around the lion’s neck and the other resting on the lion’s rear quarter. He was not holding him down, per se, but he was being cautious as he was building trust. There it is – trust, and with it, confidence. That is what must be done through personal branding. Trust must be built in order to have the target audience gain confidence in you, and your personal brand.

Well, trust and confidence do not happen overnight and certainly not without effort. The next screen listed a 4-step process to building trust and gaining confidence. It was titled, Earning the Right because that is exactly what must be done; trust and confidence must be earned! The process included, 1. Share information, 2. Interact with the candidate, 3. Engage with the candidate, and 4. Call for action – the next step. I asked the audience, “Is all of this making sense?” Of course, as I could tell by the heads nodding in agreement.

As I moved forward through the presentation, I discussed the definition of a brand. After all, if my audience was to become a personal brand, they should at last understand what a brand is, right? I also discussed brands in the digital world. This is really where personal branding allows us to thrive today and for the foreseeable future – in the digital world of social media, blogs, podcasts and much more. This is when I addressed the question about having enough time and selflessly (or selfishly) showing all my activities online. I believe I dispelled the notion of not having enough time. Meaning, I earned the right to not only continue with my message, but in presenting my personal brand.

Moving on through all the examples (and self-promotion) I stopped abruptly to focus on what must be done to ensure that a brand lives and breathes much like anything that is intended to grow. A brand must be planned. A brand must be nurtured. A brand must be allowed to grow. A brand must be invested in. A brand must be protected. A brand must be promoted. A brand must be cherished. A brand must be the center of the universe.

As I wrapped up the presentation, I again showed on the screen the picture of the man and the lion. There were smiles on the faces of the audience, and more nodding. Everyone seemed to understand the analogy – the message of trust and confidence. I then asked what would happen if trust and confidence had not been attained… Everyone understood as the next slide showed a lion with a lion tamer’s whip in its mouth, his hat on the ground, boot and shredded clothes on the ground around the lion. Yes, eaten alive!

If you’d like to see the PowerPoint in its entirety, it may be viewed on SlideShare HERE. If you happen to take the time to view it, I’d love to learn your thoughts. In the meantime, here’s my Question of the Week:

How important do you believe personal branding is today?

Have a great day. Make it happen. Make it count.

“You You You” is as Important as “Location Location Location”

May 24, 2022 ·

Elan Musk has 94.8m followers on Twitter; Tesla has 15.6m. Bill Gates has 59.1m followers on Twitter; Microsoft has 10.7m. Even Mark Cuban has significantly more followers on Twitter at 8.6m than his own Dallas Mavericks at 2m. I probably could do a mic drop here to prove the point about personal branding being more front and center for entrepreneurs than the widely popular and well-known brands of which they are most associated.

Okay, I agree. Musk, Gates & Cuban are in a celebrity class and of course known to many, if not, to most anyone. But that wasn’t always the case. Over the years they rose from entrepreneur status to influencer status. Think about the Kardashians or for that matter, any of the influencers today on You Tube or Tik Tok. All have built personal brands that influence people. Of course, besides associating their names with other brands, their rise in popularity significantly increases the awareness, and value of their own brands… and themselves.

“Your personal brand is a promise to your clients… a promise of quality, consistency, competency, and reliability.”

– Jason Hartman

Before continuing my focus on entrepreneurs and personal branding, I’d like to make the point of how valuable a strong personal brand is for anyone in business today. In today’s Digital Age, anyone – yes, anyone – can be seen as an influencer in their company, industry, or community. Sometimes, in all three.

Through social media, blogs, vlogs, videos, podcasts, e-publications and more, anyone can be visible to their target audience as well to audiences of which they might not even be aware. And influencers are often viewed as experts. Imagine interviewing for a job and the interviewer Googles your name and finds result after result that showcases your influence… and expertise?

Now let’s shift back to entrepreneurs, including aspiring entrepreneurs. A strong personal brand goes a long way toward raising capital and attracting top talent. It also helps generate interest in the business or concept itself which in turn attracts customers or clients, as well as potential suitors for joint ventures, strategic partnerships… and how about private equity players?

An article at PersonalBrand.com lists seven reasons why a personal brand is important for an entrepreneur or business owner as follows:

A personal brand gives you more credibility. Building a personal brand is almost like creating your own “Credibility Bank” where you make small daily and weekly deposits. Over time, you’ve got a huge asset that continues to grow on its own.
A personal brand will attract client to you versus you chasing them. A strong personal brand is a magnet for business. A well-built personal brand will attract more business than you know what to do with, but it won’t happen overnight.
A personal brand gives you the ability to work with higher-quality clients. Not only will your personal brand start to attract clients, but it will also start to attract higher-quality clients as well. Successful people want to do business with other people who know what they are doing.
A personal brand allows you to charge more money. One way to start charging more money faster, is to establish your personal brand in a specialized niche of your industry. Specializing allows you to focus and get results for your clients/customers. People pay for results. The bigger the results you get, the more you can charge.
A personal brand allows you to choose more freedom. When you can start charging more money, you now have the ability to choose how much you want to work. You can still work crazy-long 12–16-hour days, and stash cash. Or you can scale back your hours, work with only the BEST clients that come your way and enjoy a better quality of life.
A personal brand helps you build a better network. Have you heard the saying, “Your network is your net worth”? Well, it’s true, and building a personal brand is one of the best things you can do to build your network, and ultimately, your net worth.
A personal brand will get you in on bigger, better deals. As you build your brand, you will build a following and as a result a lot more people will want to work with you. If done right, your personal brand should also attract other movers-and-shakers who can bring bigger, better deals and opportunities your way.

People want to do business with people. They buy from people. Sure, the brand may get them in the door, but it’s the person representing the brand that they want to do business with.

The bottom line is, it’s not uncommon for anyone interested in doing business with you today to perform a Google search of the brand or company AND the founder or other leaders of the brand or company. What they hope to find is information that lends to experience and expertise. (Even the banking industry is moving towards utilizing a social reputation score for business loan applicants that will rival the credit score.)

I’ll use franchising as an example. I don’t think that it can be argued that a franchise organization with franchisees with strong personal branding wouldn’t be significantly stronger than a system with franchisees that just stand behind the counter.

I’m certainly not degrading the efforts of franchisees that strive for 100% customer satisfaction and are willing to put in long hours to ensure the same. But with a strong personal brand that reaches into the local community, franchisees would be more successful driving the business. I refer to this as GOYA marketing – Get Off Your Ass marketing. Here’s the great part of GOYA marketing… and again, in today’s digital world, much of the personal branding can be done online!

Personal branding is about YOU. The key to your success is YOU! Yes, I am a firm believer in location, location, location, and I always stress to not settle for a secondary location as that is a recipe for failure. But as important for me is to stress: YOU! YOU! YOU! Not doing so is more of a recipe for failure!

Have a great day. Make it happen. Make it count!