This morning I was reviewing my article from a few days ago, Personal Branding and the Power of YOU! and immediately thought about how personal branding is snubbed by many as a fad, nothing more than a buzz-phrase. I’ve even heard people say it was unnecessary and a waste of time.

Truly, it all annoys me quite a bit. I believe their thoughts are driven by fear – fear of the unknown, no different than originally expressed thoughts about social media or of anything “new” that is introduced into the marketplace. I’m sure there were naysayers when the telephone was introduced into businesses way back when. I wonder how many thought the phone was unnecessary, a waste of time, an annoyance, and eventually something that would become a product along the lines of here today and gone tomorrow.

As many that know me will attest, I’m one to always look back and ask myself if I was on the right track and if I’m staying the course with my perspective.

Yesterday was one of those days as I saw a post that popped up in my Facebook Memories. I smiled as it affirmed that I was spot-on about personal branding and especially as it’s become a recommended foundational component of franchise development per discussions at a recent franchise sales conference. As well, it affirmed I’ve stayed true to my perspective.

My Facebook post was from January 29, 2013: I was asked again today, “What was the basis of developing Personal Branding for Franchise Professionals?” My answer is always, “To assist all who work in franchising to develop personal branding strategies to align individual experience and expertise with brand and business development.”

The following, which I shared in May 2022, explains even more about my perspective about personal branding and a walk down memory lane about how I came to be so passionate about it then, and still today.

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

Wikipedia defines personal branding as the conscious and intentional effort to create and influence public perception of an individual by positioning them as an authority in their industry, elevating their credibility, and differentiating themselves from the competition, to ultimately advance their career, increase their circle of influence, and have a larger impact.

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.

Whether it was described as we know it today or not, personal branding has been around for many years. Personal branding essentially showcases an individual’s image to the target audiences they’re trying to attract. From kings to world leaders to politicians to movie stars, each developed a personal brand that became the “packaging” of their own persona.

For instance, Babe Ruth. Besides being a world-class baseball player, The Babe, as he was affectionately known was loved as an everyday type of guy, a friend at the local gin mill or a pal at work. He loved to drink and eat, but he was a professional athlete despite being significantly overweight.

He loved kids and was often seen talking with them. He visited with sick children in hospitals, made bold promises, and lived up to them. He was larger than life. Books were written about him. Movies were made and even a candy bar was named after him. The Babe certainly had; most likely unknowingly developed a personal brand.

Of course, not many will see their personal brand identified as a nickname, or of a term of endearment like Babe Ruth or other ballplayers of yesteryear – The Mick (Mickey Mantle), The Splendid Splinter (Ted Williams), Say Hey Kid (Willie Mays), Hammerin’ Hank (Hank Aaron), just a few that immediately come to mind. They were heroes of the day. I can’t even begin to imagine what their personal brands would be like today in the Digital Age!

Okay, I know. Not everyone reading this today knows about these individuals. I’d like to think I’m not that old that many might not even recognize their names. But that’s a story for another day. So, let’s shift gears. Do you recognize the name, Gary Vaynerchuk, or as he is often referred to, Gary Vee?

To me, Gary Vaynerchuk epitomizes personal branding today. From his sometime harsh language to his extremely casual appearance, he is definitely not the picture of what many would perceive to be a businessman and certainly not a successful one. Yet, he’s one of the most successful businesspeople of our time! Why? I’d say to a large extent, it’s due to the way he developed his personal brand.

Of course, he is brilliant. But it’s his personal brand that has taken his brilliance to the level that he is very well known, is in high demand for speaking engagements, and is all over the digital space. From his podcasts and videos to his own blogs to articles written about him, it’s hard not to know, or at least be aware of Gary Vaynerchuk.

It was Gary Vaynerchuk who first introduced me to personal branding when I read his book, Crush It! To me, it’s the primer for everything that should come after it, much the same as our first-grade reader was back in elementary school. So, as we focus on personal branding this week at Acceler8Success Cafe, we’ll start with Gary Vaynerchuk’s great book. It’ll be our foundation as we take a deep dive into personal branding.

I’ve recently re-read for the umpteenth time this fascinating book. He has posted, tweeted, and videoed himself, and his business, to unbelievable success in a very short period of time. The book is a relatively short read, so there should be no excuses for not reading it asap, as it can only help you improve yourself and your business, and your personal brand. The following is directly from one of the tabs from the book’s original website. Upon reading the book, I’m sure you’ll further explore Crush It! just as I do quite often.

Everything has changed. The social media revolution has irreversibly changed the way we live our lives and conduct our business. There are billions of dollars in advertising moving online, waiting to be claimed by whoever can build the best content and communities. Despite this change, most people keep working at jobs that don’t make them happy and businesses continue to ignore the major marketing and public relations benefits that can be found online.

Myth #1

I’m not passionate about something sexy or popular like wine so these lessons don’t apply to me.

The internet has drastically decreased the costs of building communities around niche subjects, allowing for even the most obscure subjects to draw enough eyeballs to command advertising attention. Starting a video blog about tortilla chips may seem farfetched until Doritos gives you a call and offers $40,000 a year to sponsor and advertise on your blog.

Myth #2

My business already has a Twitter account and a Facebook page, we’re set in the social media department.

This is the equivalent of claiming twenty years ago that just because your business bought a TV spot and a few ads in the newspaper, you didn’t need to pay attention to your advertising department. Social media isn’t about joining in, it’s about being involved.

Myth #3

I’m happy at my job so this book is irrelevant to me.

First of all, congratulations on finding work that makes you happy! However, the lessons in this book are valuable to anyone, regardless of their employment status. Crush It will show you how to utilize high level and platform specific social media and marketing strategies that will improve your work. It will also show you how to build a personal brand so that even if you’re forced to leave your job, a situation that’s especially relevant today, you’ll be able to easily find employment elsewhere in a field you’re passionate about.

Myth #4

I need to quit my job to take advantage of this book’s entrepreneurial lessons.

While the entrepreneurial strategies in this book do take time, it’s completely reasonable to start the effort as an after-work project to build up until you’re able to replace your current income with the income from your online presence. While you may have to fall behind on the current season of Lost or let your Madden 2010 game suffer, because you’ll be doing something you love you won’t mind putting in the extra effort.

In Crush It, Gary Vaynerchuk shows how anyone can build a career around what they’re passionate about. He also delivers both high-level and platform specific strategy and analysis, allowing you to take advantage of the current business environment while preparing you to succeed as it changes and evolves.

This book isn’t interested in making unrealistic promises while glossing over the work involved. Making a living by building content around your passion isn’t simple and it doesn’t happen overnight. What it is, however, is fulfilling and in most cases just as profitable, if not more so, than your previous job.

Furthermore, a business can’t just pay lip service to social media and expect it to return results. The transparency and accountability inherent in its structure necessitates a comprehensive and dedicated strategy in order to reap its tremendous benefits.

By combining practical analysis and strategy with the same passion and humor that’s made Gary one of the most in demand keynote speakers in the U.S. as well as network television’s go to wine expert, Crush It is essential reading for anyone who wants to understand and harness the future of business and work.

Learn: Why social media has evened the playing field, destroying the “gate-keepers” who had previously dictated the distribution of content.

Learn: How to beat unemployment and create wealth-building opportunities by building and maintaining a personal brand.

Learn: Why storytelling is the most important business concept in the current marketplace.

Learn: How you can build an online business around your passion without quitting your day job.

Learn: Why Twitter and Facebook are just tools and not a social media strategy.

Learn: How to take advantage of the half-billion dollars in advertising that are moving to the internet

Learn: Why transparency and being true to yourself are now winning marketing formulas

Learn: How to build and maintain an online community around your passion and brand

Learn: Strategies for turning attention into money

Learn: Why the legacy element of the internet era is so underrated

Need some Personal Branding guidance, please reach out to me on LinkedIn or via email to paul@acceler8success.com.

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

I often take a look at some of my posts from years back just to compare my thoughts and perspective from then to now. I always ask myself if I’m consistent so as not to confuse anyone. But more importantly, am I focused on the long-term or just on the here-and-now?

Well, below is a post from June 2009. Upon reading it, I’m sure you’ll agree that I have been consistent and have not jumped on any flavor-of-the-day bandwagon…

It really is about fundamentals and best practices, along with the willingness to think beyond what had been perceived as the norm. And like the great recession of 2008-2009, the looming recession (or period of economic uncertainty) will require similar focus.

Franchise Sales During a Recession

In one of the franchise groups on LinkedIn, there was some discussion about a Wall Street Journal article, “Franchise Sales Pull Back During the Recession.”

Several franchise professionals posted their comments and, of course, I added my “two cents” as well. Okay, I was definitely long-winded compared to the others, but as most of you who read my articles are well aware, I have a passion for franchising and franchise success and tend to go on and on to share the same with all who will “listen.”

Having worked in franchising through several recessionary periods, I strongly believe there are many well-qualified candidates who will be exploring franchising through today’s challenging times. Some will do so as a career alternative or transition, and for those already a small business owner, they may look at franchising as a business expansion strategy. And whether as a current or aspiring entrepreneur, more than ever before, many will view franchising as a way to diversify income.

No doubt, the number of franchise leads has started to drop. But I believe it’s because many of the “tire kickers” have gone by the wayside while the more qualified candidates continue to search, inquire and ultimately decide franchising is right for them to achieve their goals and objectives. The cream is rising to the top. However, in order to fully capitalize on this trend, franchisors must realize that the candidates’ approach has evolved and act accordingly.

Today’s franchise candidate is more qualified, sophisticated, educated and technologically advanced than we have ever seen before. Add to the mix, a sense of extreme caution, and their process in exploring franchising and specific franchise opportunities is evolving to more of a detailed, well-thought-out and planned strategy – essentially, due diligence 2.0.

Always understanding that there is risk in any entrepreneurial endeavor, today’s candidates explore franchising because it may provide even the slightest edge against failure. Their mantra has become, “failure is not an option” and they now live it by doing everything humanly possible to dot every “i” and cross every “t” and then rechecking only to do it over and over again until they have full, complete confidence in their decision. They’re quickly becoming experts at due diligence.

To that end, the overall process from initial inquiry to franchise award will be much longer than in years’ past and that is something franchisors must be prepared to effectively handle. It’s a primary reason I believe social media and digital tools work so well in the new era of franchise sales as it creates an environment for today’s candidates to research organizations, share information, communicate with individuals at all levels of the franchise organization from franchisees to corporate executives, view photos, audio and video, etc. And, they can do so at their own pace and to their full understanding.

Understanding and adapting to today’s qualified franchise candidate and their evolving propensity toward extreme due diligence will help franchisors ride out this current economic downturn. Putting their heads in the sand and just complaining about the poor economy and the franchise candidate pool drying up will only prove true that their negative thoughts are correct. But that doesn’t need to be the case. Diligence on the part today’s franchisor is paramount, just as it is for today’s franchise candidate.

All that being said, certainly there will be challenges in securing financing and other variables that must be contended with and addressed accordingly. But as the franchise candidate pool recedes and many of the tire kickers aren’t around to waste our time, franchisors will now have more time to explore options, use creativity and innovation, network beyond comfort zones – all to seek out alternative solutions. I believe outside-the-box solutions are out there and many franchisors are capitalizing on them as we speak. They will not only survive, they will thrive as other franchisors have done in other recessionary periods.

If you need some additional information regarding franchise sales during a recession, I refer you to an article by Keith Gerson, President of Franchise Operations at FranConnect that was republished at Franchising.com. The article is titled, Recession Predictions for Franchising in 2023 and may be accessed HERE.

Help is just a message, phone call, email or text away!

The future may be a bit bumpy for some, more so for others. Knowing who to turn to and when to turn to for guidance and help is important. Having resources at your disposal is also important.

So, if you hit a wall, for whatever reason, please feel free to reach out to me for assistance or even if you just need someone to talk to. Please do not hesitate.

You can reach me on LinkedIn, by email to Paul@Acceler8Success.com, and by phone or text at (832) 797–9851. Learn more about Acceler8Success Group at Acceler8Success.com and coaching services at Entrepreneurship411.com.

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

Some time ago, I responded to a LinkedIn discussion about startups. An MBA student posed the question, are startups necessary with so many businesses already in existence? The student went on to discuss the concept of recycling businesses, adding to current business models with an additional component or two – as the alternative to developing a startup. The premise was akin to remodeling an old house and as an investment strategy, flipping it.

These are some very interesting thoughts – “recycled” or “flipped” businesses instead of closed businesses. Basically, if you can’t make it, give someone else a shot. Diversification would be a necessity. Successful businesses may be worth more. But what is the contingency plan if the improvements and / or additions actually take the business in a different direction?

On the other side of the coin, startups brought us Bill Gates, Steve Jobs, Walt Disney, Henry Ford, just to name a few. Would they have been as innovative working for a company as opposed to blazing trails themselves? What would the world have missed without them? Would tomorrow’s Gates, Jobs, Disneys and Fords be left to work “within the box” as opposed to “outside the box?”

I have not even begun to think about the rise of even more powerful companies resulting in massive monopolies. In the end, would we wind up with just a small handful of enormous conglomerates owning and operating every industry? Or, heaven forbid, could we end up moving toward a small number of powerful entities controlling all industries, and the world?

Some see startups as catalysts for growth but they’re more than that. They are the engine of growth itself. They solve problems no other sector is addressing with innovative thinking, thus pushing society forward – all while creating jobs, stimulating the economy, and attracting investment.

No startups? I think not!

But still an interesting thought to say the least. One that I believe could actually spur creativity and innovation. It’s definitely out of the box thinking and as a hybrid could be a disruptor philosophy and one that could also create jobs, stimulate the economy, and attract investment.

A case in point is what Stratis Morfogen has done with his newest concept, Brooklyn Dumpling Shop, essentially a hybrid of the old Horn & Hardart cafeteria model as the foundation of a modern QSR. Add to the mix an additional hybrid component from his idea of one-ounce sandwiches in a dumpling fashion from his successful steakhouse ventures, and a star is born.

In my opinion, the success possibilities, like the Brooklyn Dumpling Shop are far greater than a startup based entirely upon unproven components and those based upon wishes, hopes and dreams.

So, back to answering the question about the necessity of startups, I believe they all serve a purpose in lending to innovation and creativity that are vital to our future. Vital to democracy. Vital to free enterprise. Vital to helping third world countries. Vital to making the world a better place for today and tomorrow.

But it’s what we learn from all that makes up startups that helps expand success of other businesses, and even industries. Adding in proven components as opposed to attempting to recreate the wheel can bring in innovation not previously thought of before.

Someone in the discussion thread looked down at this thought of “redundant solutions” as a waste of time and resources. My thought is that without startups clicking at the heals of established companies, would those companies continue to improve on solutions they had already developed or just stop, sit back and rake in the profits?

Afterall, why continue spending millions in improving solutions if no one else is working on more effective solutions? And wouldn’t it be better for all if technologies are learned from and shared for even more purpose?

In simple terms, if we’ve created a trap that would catch mice, do we really need a better mousetrap? Maybe not from the practical sense. But what if we could catch a mouse a different way and it’s more cost effective? Or, maybe it has less health risks. Or more humane? Or just flat-out more effective?

Or, if a new solution is built with technology that could be used for other products and even across industry segments? For instance, what if a better mouse trap becomes the foundational component of a new wild hog trap? One that helps alleviate a growing problem that according to a USDA study can be blamed for $1.5 billion in damages every year in the United States? 

Do away with startups? Heck, no!

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

Today’s post is from 2012 as the final segment of a week-long recap of my interview with Renee Bailey of Franchise Direct. The title of the post in Franchise Direct was “Marketing, Media and Franchising – An Interview with Paul Segreto”. The full interview may be read HERE.

But if you’ve been reading this newsletter you’ll know how passionate I am about personal branding, and how I believe it best integrates with franchising. In fact, yesterday I focused on the importance of personal branding in developing an organization’s brand identity. If you missed it, you can read it HERE.

In any event, the following represents my final answer in the interview along with some parting advice for prospective franchisees.

In August of 2011, HubSpot explored why every franchisee needs their own website. Does this relate to your philosophy that individual brands enhance the overall franchise system?

Yes. 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.

Now, I’m 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… in today’s digital world, much of the personal branding can be done online!

Are there any additional insights you would like to share with prospective franchisees?

It doesn’t matter what your level of investment, or visibility and strength of the brand, the key to your success is YOU! Yes, I am a firm believer in location, location, location, and I always stress not to fall so in love with a brand that you accept a secondary location because that is a recipe for failure. But as important is for me to stress: You, You, You.

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

I believe anything a franchisor does should be done to benefit the franchise brand and as such, franchise relationships. The digital world plays perfectly into this philosophy as it affords interactivity at all stages of the franchise relationship – from inquiry through award while trickling into consumer awareness. This is especially the case for startup and emerging franchise brands.

From prospecting for qualified franchise candidates to supporting the first wave of franchisees, the utilization of digital tools creates environments that strengthen relationships, shares information, provides two-way communications, and provides points of reference for follow up.

Doing so creates a multi-tiered platform of information and interaction that benefits both franchise development and consumer proposition efforts alike. Often, simultaneously. That is the power of personal branding!

For franchise startups and emerging brands, the founder’s vision of the concept is paramount to future success. The founder is perceived as the concept. In the earliest of stages, he or she are essentially the brand. At least until a significant number of franchises are awarded and brand awareness is established across multiple markets, the founder is the inspiration for franchise candidates.

The benefits to spreading this message through digital channels and outlets such as social media, blogs, podcasts, etc. are that these tools and associated strategies will generate direct excitement about the business concept and the brand. As well, it will generate subliminal, subtle interest in the franchise concept.

This all establishes a strong foundation for growth. It also defines a very worthwhile, visible support mechanism for franchisees as the consumer proposition is fortified by the digital activity. Passion becomes ignited at all points of contact. Brand loyalty quickly follows suit.

It’s all centered around the founder’s vision and a personal touch that candidates and consumers desire. The vision becomes the brand and vice versa.

Essentially, it all starts and continues with personal branding for the founder to the point the founder becomes synonymous with the brand even if his or her name is not part of the brand name.

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

In 1994, just two years before he returned to Apple, Steve Jobs was interviewed by the Santa Clara Valley Historical Association. In a video excerpt from this interview, Jobs talks about his discovery of one simple, but monumental secret of life.

“When you grow up you tend to get told that the world is the way it is and your life is just to live your life inside the world…try not to bash into the walls too much, try to have a nice family life, have fun, save a little money. But that’s a very limited life. Life can be much broader once you discover one simple fact. And that is everything around you that you call life, was made up by people that were no smarter than you. And you can change it, you can influence it, you can build your own things that other people can use.

The minute that you understand that you can poke life and actually something will, you know if you push in, something will pop out the other side, that you can change it, you can mold it. That’s maybe the most important thing. It’s to shake off this erroneous notion that life is there and you’re just gonna live in it, versus embrace it, change it, improve it, make your mark upon it.

I think that’s very important and however you learn that, once you learn it, you’ll want to change life and make it better, cause it’s kind of messed up, in a lot of ways. Once you learn that, you’ll never be the same again.”

Watch the interview HERE.

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

When signing on the dotted line for a franchise, yes, a business contingency plan should be in place and the plan should begin with the end in sight.

Huh? What? Really?

Yes, the business contingency plan must include an exit strategy. It’s actually the first place to start as it addresses the “what if” questions that must be answered before a problem occurs. It always helps to be prepared. It also helps for all parties to be aware.

The exit strategy must include a plan for predetermined events like retirement. As well, it must be in place in case of unforeseen events that typically occur as a result of poor sales, and in some cases as a result of employee theft, mismanagement, poor health, etc. and the repercussions that come from these instances that often blindside all parties.

Unfortunately, it’s human nature to only look at the positives of a relationship, personal or business. How many couples avoid the issue of prenuptial agreements because they don’t want to start off on the wrong foot? Or because it’s just too difficult to have the conversation? Maybe the sentiment is that it will jinx their relationship or provide an out to the party not willing to work at the relationship? The same is certainly true in the franchise relationship.

However, in both cases it is prudent to look at the potential downside and have as many of the potential scenarios outlined ahead of time. If nothing else, at least it keeps everyone focused on the potential consequences of failure – something that may provide them even more incentive to succeed. After all, it is easier to fail than it is to succeed, mostly because the momentum going downhill is quicker. As such, it’s easier for things to get out of control, and fast if a plan is not in place.

In most cases of franchisee failure, there’s no way it can possibly be a surprise to anyone. Certainly, it shouldn’t be a surprise. Trends become evident and it would take a tremendous amount of shear stupidity and ignorance for anyone to believe a franchise location closing is a surprise. I guess we could chalk it up to the “head in the sand” scenario? Possibly on both sides of the relationship.

My recommendation to franchisees and franchisors alike is to have a business plan in place at the beginning, complete with an exit strategy. It should be discussed between all parties to the franchise agreement. All must understand mutual obligations upon termination. Communicate, communicate and communicate must be the case throughout the relationship from franchise disclosure to the closing of the franchise location – and all points in between!

Notice the one thing missing is “dis.” To use the street slang of “dis”, make sure you don’t dis communications, don’t dis obligations, and don’t dis responsibility. For anyone that doesn’t know what dis means, it’s most easily defined as “ignoring and/or disrespecting.” Again, this is paramount on both sides of the relationship.

My advice to franchisees, don’t get all starry-eyed at your franchisor like you’re in love. Realize it’s a business relationship and make sure all parties to the agreement, including yourself, live up to their obligations. To franchisors, be sure to do your part, as proactively as possible.

Sure it’s easy to refer to the franchise relationship as one of family but there is such a thing referred to as dysfunctional families, right. Shit happens, right? And when least expected!

Further, to all parties involved in the relationship, when trouble is on the horizon, do not, I repeat, do not put your respective heads in the sand. Keep in mind that when heads are in the sand, your most vulnerable ass-ets are exposed to the entire world leaving everyone at a distinct disadvantage. Especially, as the rumor mill starts to heat up.

Below is a link to a great article about business contingency plans:

Business Contingency Plan – Do You Have One?

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

A while back, I started a discussion on LinkedIn about whether or not transitioning corporate executives made good franchisees. Most responses came from individuals from within the franchise industry. Some, from outside the industry. Several responses were based upon actual experience while some were simply opinion.

For our readers’ benefit I’ve listed below a handful of the responses which I feel provide a fair cross-reference of responses. In doing so, I’ve given credit for each response but only according to respondents’ titles as identified through their LinkedIn profiles.

Guerrilla Marketing Coach, behavioral analyst, speaker, author, student of life

“Really interesting question. In my ‘past life’ I worked in franchising and my general observation is that while a franchise offers a great framework and tool-kit for someone starting a business, it does not guarantee success.

People who buy a franchise understanding that they will have to work (and hard) to grow a successful business, and who are committed to using the franchisors tools and resources, are likely to be quite successful. On the other hand, those who think that a franchise is going to be a ‘magic pill’ that allows them to prosper without putting effort into it are surely destined to something far less than success.

Anyone looking at a franchise should take their time, talk to other current (and former) franchisees, find out what is involved in order to succeed, and what may contribute to failure within that particular franchise. Then, each person has to look deep into themselves to understand if they are truly prepared to start a business…”

Franchise Information, Mentoring & Development Professional

“Interesting question, Paul. As I’ve thought about it, I don’t think it’s an easy question to answer. Or the answer would have to be fairly simple, such as Yes and No! (Not very helpful, I realize).

Maybe we could ask the question another way. How have franchisors succeeded when they awarded franchises to transitioning executives? . . . Puts a little different emphasis on it.

We sometimes look at franchise success as up to the franchisor – i.e. it’s the franchisor’s job to be sure franchisees succeed, and that includes transitioning executives. But of course we know that not all franchisees, including transitioning executives, are created equal. Some are better than others! People in transition may, in fact, not make very good decisions – they may panic and jump into a franchise too quickly and they don’t do all the homework that’s necessary or they don’t at least ask all the right questions.

It would be interesting for franchisors to reveal how ‘transitioning executives’ have fared in the past, though that’s probably asking a bit too much. Because again, even if the transitioning executives failed, it doesn’t mean the franchise system is a bad one. Maybe the brand is not a right fit for a transitioning executive, but that’s probably incorrect. Would that be like saying it’s not right for left-handed people? I just don’t think ‘transitioning executive’ matters. What matters is how well prepared the candidate is for franchising and whether or not the candidate picked a good franchise for him or her. Because we also know that all franchisors are not created equal, either. Some are better than others – and I bet there are some that could tell us 100% of the transitioning executives that joined them succeeded.”

Director of Operating Systems at a National Foodservice Franchisor

“It depends…. There is a significant difference between being a corporate executive and a franchisee. As a corporate executive of a brand you have a wide and deep support system with interdepartmental experts that can solve problems or point you in the right direction with one phone call.

As a franchisee you are ‘it’, unless you buy into a multi-unit franchise that can afford a support system that can make up for the skills that you lack or for skills for which you lack experience (accounting, finance, legal, HR, workers comp., marketing, training, operations, etc., etc., etc.).

The corporate executives that I have seen succeed are those that had an entrepreneurial mindset or prior experience running a business and quickly understood that forming a support system (internal or external) was crucial. It is not that corporate executives don’t want to do the hard work, it’s just that they are not used to think at the level of detail that is necessary to be successful at each level and therefore, they may not be familiar with all of the intricacies of running a business.

Franchisees need to be generalists and not specialists. Corporate executives are usually very good at the role that they had in their corporate career. While they will understand the brand’s perspective and strategy better than the average franchisee, they would only make the best franchisees if they are able and willing to adapt quickly to the demands of being a small business owner.”

Strategic Performance Oriented Franchise Executive

“I doubt there are reliable statistics to support an empirical conclusion to your question.

However, my opinion for what it’s worth is that when people make decisions to become franchisees out of desperation to replace a job/income it can be problematic as opposed to someone who transitions from employment to self-employment on their own terms.”

What do you think? Do transitioning executives make good franchisees?

I’d love to hear your thoughts and perspective on this topic, especially as franchising is once again realizing an influx of transitioning corporate executives explore franchising. A trend that is certain to continue as we face financial challenges and economic uncertainty.

Please feel free to post your comments in the appropriate section, message me on LinkedIn, or send an email to me at Paul@Acceler8Success.com.

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

Have you ever looked back at content you had developed in the past and thought about its relevance then, and today? If you have, I’m sure it has raised a lot of questions as it does for me ranging from what the heck was I thinking to wow, I was really onto something or that’s as relevant today as it was back then?”

This morning I decided to go back, way back to my first blog post. The date was February 5, 2009 – almost 13 years ago! Blogging was relatively new. The only blogger I was aware of in the franchise space at the time was Joel Libava As proficient as Joel was at the time it was clear he had been at it for quite awhile, even at that early date. There may have been others, but Joel was not only The Franchise King, he was also in my mind, The Franchise Blog King!

As many will recall, 2008 and into early 2009 was the beginning of a very rough spell for the economy and of course, for franchising. Interesting, here we are again as we’re facing similar circumstances. As such, I believe my first blog post under my initial platform, franchisEssentials – WEB 2.0: A Jungle for Franchise Development is relevant today. Albeit it may need some minor edits, or does it?

To that end, today I’m sharing the post exactly how it was published back then and asking you to share your comments and suggestions on what should be changed for the here and now. I certainly look forward to your insight and perspective. (Although, please be kind and refrain from critiquing my poor writing skills – thank you!)

Web 2.0 – A Jungle for Franchise Development

Franchise Development is no stranger to change. The industry adapted well to the internet when it integrated its then traditional marketing at tradeshows with development of elaborate websites. Next, the industry adapted again as it integrated its marketing efforts and web presence with franchise consultants and brokers through a multitude of franchise portals.

Well, as Bob Dylan once wrote, “…the times they are a-changing.” Much has been written and spoken about weeding through the many tire-kickers experienced on the internet, shuffling from one portal to the next with the same non-objective to “see what’s out there.” The franchise industry has literally seen thousands of these leads with no purpose, no chance of ever presenting a franchise opportunity.

Instead of trying to catch fish in a wide open ocean, why not direct your attention to the fish in a lake, pond or even, a barrel? That’s correct, a barrel! In searching for qualified franchise candidates, we, as an industry, need to locate the barrels of candidates that exist in the market today. How do we accomplish this seemingly insurmountable task? We need to embrace new technology and integrate the same with traditional efforts. Specifically, Web 2.0 (and Social Media) technology, and all it has to offer.

Unfortunately, Web 2.0 technology is so extraordinary, consisting of many different aspects. Including such familiar buzzwords as social media, social networking, wikis, webinars, video sharing, blogs, podcasts, just to name a few, the thought of stepping foot into the Web 2.0 jungle is daunting, and therefore, often delayed. So, as the old adage of how one could eat an entire elephant (of course, one bite at a time), we need to take small bites out of the Web 2.0 elephant and step through the jungle carefully, one step at a time.

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

“Life has knocked me down a few times. It has shown me things I’ve never wanted to see. I experienced sadness and failures. but one things is for sure, I always get up.” – Unknown

A conversation the other day had me thinking long and hard about this quote. Sometimes it’s easier said than done, but it’s always possible to get back up. Honestly, I should practice what I preach. Well, not so much to get back up, but to do so quickly and without leaning on excuses. Even if there are justifiable reasons, they’re still excuses. I should know better. I do know better. So, from me to you, here are my thoughts on getting back up after being knocked down by life.

When life knocks you down, you MUST get back up. Always!

Often, it’s quick to jump right up on your feet. Other times it takes getting up on one knee and pulling yourself up, sometimes holding onto something, but all the while progressing to an upright position. And yes, there are times you’ll actually stumble and fall back down, but you must push again to get back up.

If an unforeseen weight causes you to fall down and is making it difficult to get back up, find a way to push it aside. Dig deep inside for extra strength, for the will to get out from under it, crawling out if you must.

When all is said and done, you must get back up. You can do it. You must do it.

Now, I’m thinking about what I believe is one of the greatest motivational and inspirational speeches in movie history. The speech I’m referring to is by Rocky Balboa to his son… I believe that anyone that has seen the movie, Rocky Balboa will remember the speech but whether you do or not, take a minute or two to read through the words below:

“Let me tell you something you already know. The world ain’t all sunshine and rainbows. It’s a very mean and nasty place and I don’t care how tough you are it will beat you to your knees and keep you there permanently if you let it. You, me, or nobody is gonna hit as hard as life. But it ain’t about how hard ya hit. It’s about how hard you can get hit and keep moving forward. How much you can take and keep moving forward. That’s how winning is done! Now if you know what you’re worth then go out and get what you’re worth. But ya gotta be willing to take the hits, and not pointing fingers saying you ain’t where you wanna be because of him, or her, or anybody! Cowards do that and that ain’t you! You’re better than that! I’m always gonna love you no matter what. No matter what happens. You’re my son and you’re my blood. You’re the best thing in my life. But until you start believing in yourself, ya ain’t gonna have a life. “

Watch the video HERE

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