Among twenty-five or so Google Alerts I have set including ones for each of our clients, as well as for words and phrases relevant to services we offer, I also have a Google Alert for my name. As is often the case, I have seen articles referencing articles I have written along with interviews that I have given, quotes from one of my webinars or workshops, and even from guest appearances on one of my podcasts. It is very flattering.
More so, it’s eye-opening when the alert references something from 3-5-10 years ago. I’m always interested to see if my thoughts back then are in line with my thoughts today. I ponder whether my thoughts are consistent in how to approach things like social media, entrepreneurship and franchising. Really interesting is to see how my thoughts may have changed, to which I think about reasons why.
Recently, I was alerted once again. This time the alert referenced an article from eight years ago! Again, I was flattered when I clicked on the link and saw that it went to the blog on the Great Clips website.
I immediately thought back to see if I could recall writing an article or post for this great franchisor. After all, I had done so over the years for many franchisors and franchise organizations including Liberty Tax, Monkey Bizness, Scooter’s Jungle, Guidant Financial, and International Franchise Association, just to name a few. So, it wouldn’t have been odd if I had written one for Great Clips.
Well, I hadn’t written this particular article for Great Clips, but I was flattered nonetheless as the article referenced an article that I had written for Entrepreneur.com. I was pleased to read that my thoughts shared back then are consistent with my thoughts of today.
Thank you to Great Clips and to the author, Beth Nilssen for thinking enough of my thoughts to share with their franchise candidate audience. I’m happy to share today it at Acceler8Success Cafe!
Is Franchising Right for You by Beth Nilssen
I came across an interesting article on Entrepreneur.com the other day that presented three key questions to consider when thinking about joining a franchised company or opening an independent business. Now, of course, there are more than just a few questions to think about, but I think the article did a good job of presenting three, basic and vital questions:
Do you understand every aspect of the business or do you thrive in one area?
The author of the article on Entrepreneur.com, Paul Segreto, points out that entrepreneurs looking to start a business from scratch really need to be well-versed in all areas of a business to ensure success. It’s important to have experience in marketing, recruiting, accounting, business operations, human resources, etc.
On the flip side, franchisees don’t necessarily need to be an expert in all these areas because they can receive help from their corporate support system. At Great Clips, franchisees have access to marketing experts, business analysts and education staff to help them learn how to run their salon and train their staff. They also have a support system of franchisees who’ve “been there, done that” and can offer help and advice.
Are you an expert at making a name for yourself or would you like to be associated with an already strong brand?
Segreto points out that buying a franchise means that you inherit the reputation of the brand as well as customers—this shows the importance of doing research on public perceptions of any brand you are considering joining. A strong, recognized brand can have an immediate positive impact on your business, but a negative perception can do some serious damage.
An entrepreneur starting from scratch has the unique opportunity of building and forming their own brand. This is a positive because you get to make the brand what it is, and the experiences you offer your customers will shape your brand perception. However, negatively, you’ll be starting as a small fish in a big pond, and it may be tough at the start to attract customers and establish a loyal customer base.
Are you the kind of person who likes to go it alone or do you appreciate a sense of community?
This is another great question from Segreto. In a franchise, you are a big community that needs to be united and work together to create a positive and enduring brand across all locations—this is not always an easy task. You also need to be able to follow a system. So, if you’re a free spirit or want to recreate the wheel, franchising may not be the right fit for you.
As always, we’re here to help you answer and talk through any questions you may have about franchising. Leave your questions in the comments below or fill out a request for information form and we’d be happy to discuss.
Thank you Beth Nilssen. I hope that there was a candidate or two who had read the article that ended up buying a Great Clips franchise as it truly is an outstanding franchise organization. Here’s to your continued success.
As questions continue to be asked about franchising a business, I’m sharing today an article that had been written for The Small Business Expo. Brian Horowitz, a writer and content strategist specializing in business, technology and health interviewed Franchise Bible author, Rick Grossman, Franchise Scale founder, Dennis Mulgannon, and myself. The interview was conducted in mid-2021.
6 Essential Steps to Take to Grow Your Business into a Franchise
Small businesses face difficult decisions on whether to stay a mom-and-pop shop or expand into a franchise. Whether you are the WaveMax laundromat, the Flying Locksmiths or Shake Shack, which started as a hot dog stand in New York City, it’s hard to tell which company will become a successful franchise and which businesses will remain stand-alone mom-and-pop shops.
If you are looking to grow your business into a franchise, here are some expert tips on how to proceed.
Start in Nonregistration States
The Federal Trade Commission handles registration for franchises. Because it takes weeks or months to get registered, businesses should start growing in nonregistration states, said Rick Grossmann, author of Entrepreneur Magazine’s “Franchise Bible.” That will save the business money and the hassle of going through processes. However, if you are based in a registration state and plan to sell in your state, you must register.
Paul Segreto, president and CEO of Franchise Foundry and founder of Acceler8Success Group, noted that 13 states are considered registration states, including New York, California and Illinois. Check with your state for the latest rules regarding franchise registration. Some rules have been relaxed following the COVID-19 pandemic.
Hire a Franchise Attorney and a Franchising Coach
In addition to turning to a franchise coach, business owners should hire a qualified franchise attorney rather than a “business-only” attorney, Grossmann advised.
“They have to be a franchise specialist,” he said. Grossmann suggested that franchising is too specialized to turn to a lawyer that is not handling franchise law all day long.
When considering whether to become a franchise, look for a franchising coach that can take you through the process. For example, Franchise Bible Coach works with mom-and-pop shops as they go through evaluation, which leads to a three- to six-month project to launch them into franchising, Grossmann said. Services such as Franchise Bible Coach, Franchise Foundry and Franchise Scale coach executives on what they need to know to grow a business into a franchise. Franchise coaches also help write your operations manual and marketing plan while your franchise attorney is drafting your franchise disclosure documents.
“Attorneys are an important part of the process, but you really need a franchise mentor,” said Dennis Mulgannon, founder and principal of Franchise Scale. “That is somebody that’s guiding and building out the infrastructure of a franchise system to be able to support nationwide growth or regional growth, depending on what the goals and the aspirations are of the founders.”
As a franchise mentor, Mulgannon gets pitched four or five times a month from businesses looking to grow.
“When I launch a new brand, I play stealth CEO, meaning they generally don’t have that experience in the franchise space, they’re experienced at whatever business they’re in, and they’re really good at it, or I wouldn’t be talking to him,” Mulgannon said.
Build Franchise Businesses That Are Repeatable
The entrepreneur should also have a duplicable business that can succeed almost anywhere and have a need to help people in other communities, Grossmann said. There also should be a need for the company’s product or service.
“The system has to be transferable; it has to be relatable,” said Segreto, who has worked with hundreds of franchises. “It has to be able to be implemented and deployed just like the original business.”
Repeating the business in just one other location will not be enough, according to Segreto. He recommends a “hub-and-spoke” philosophy in which a franchisor opens a few locations around the main location.
If you use Atlanta as the main location, you can set up other locations within four hours of that city, including additional franchises in Atlanta as well as in Nashville, Montgomery, Alabama and the Florida Panhandle, Segreto said.
“You’re always going to have that central one in the core part of town, and then you’re going to spoke out,” Segreto said. He suggests moving toward saturation in a particular market before branching out to other areas. Saturating a single area with franchises also helps the supply chain, particularly for food chains, Segreto noted.
Establish a Culture-to-Growth Philosophy
Businesses looking to become a franchise should have a “culture-to-growth philosophy,” according to Segreto.
“You have to have the right individuals on your team, and then as franchisees come on board, you have to make sure that the culture is such that you’re not treating them like employees,” Segreto said. “You’re treating them like investors in your business.”
Segreto cites Jersey Mike’s Subs in Point Pleasant Beach, New Jersey, as a franchise with a “tremendous culture-to-growth philosophy.” He says the franchise’s owner, Peter Cancro, is always giving back to charity. Cancro is also known to put an apron on and get behind the counter to help out, according to Segreto.
“There are not enough of them like that,” Segreto said.
As part of the “culture-to-growth philosophy,” businesses need to have “positively memorable experiences” for all stakeholders involved, Segreto said.
“If you don’t have that type of mentality and mindset, franchising is not for you,” he said.
A culture-to-growth philosophy incorporates people skills and having the skills to manage workers from diverse backgrounds, Mulgannon noted.
Prioritize Branding for Your Business
To have a business that can become a franchise, put yourself in your customer’s shoes and see if the business is branded correctly when you walk in the door, Segreto said.
Consider the social media, online branding and online PR that you will need to grow your business, he advised.
Businesses should have a modern appearance with clean branding, Segreto added. Avoid handwritten signs on the walls or windows or the appearance that furniture or counters have been built by hand. Digital signage and the uniforms that employees wear are elements that make a business look like a franchise, according to Segreto. Consider how employees throughout franchises like Best Buy or Verizon are dressed in similar attire.
“Create a marketing plan that’s customized and tailored toward people that will resonate with your brand, not just a shotgun approach,” Grossmann said. “If you’re a physical therapist and you’re going to target physical therapists, you should have a marketing plan that specifically targets physical therapists.
Consider the Financial Cost of Building a Franchise
Many companies fail to take into account the financial requirements of building a business model. Franchisors must have a certain net worth and exceptional credit. To build a small business into a franchise, a franchisor should have at least $150,000 for franchising costs, according to Segreto. Those financial resources will go toward developing a franchise disclosure document, obtaining trademarks, drafting manuals and hiring people.
The real income for franchisors will come in ongoing royalties, and the franchise fee will be a “wash,” according to Segreto.
Success in growing into a franchise comes down to leadership, according to Grossmann.
“I’ve seen mediocre businesses with great leadership thrive, and I’ve seen really great concepts with lousy leadership fail,” Grossmann said. To grow your small shop into a winning franchise, ensure that your leaders have strong management skills and seek input from franchise coaches as needed.
Learn More About Franchising Your Business
Below are links to Acceler8Success Cafe articles about franchising an independent business or brand. If you’re considering doing so, even just thinking about it, I highly recommend you learn all you can about the process and what it takes to become a successful franchisor. Do you due diligence much like franchise candidates will do when exploring a franchise opportunity.
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 via a LinkedIn message, by email to Paul@Acceler8Success.com, and by phone or text at (832) 797-9851. Learn more about Acceler8Success Group at Acceler8Success.com.
Bring the Preparing for War: You vs. Recession Series to Your Organization
If you’re interested in having this series presented to your organization, either as a webinar, workshop or conference break-out session, please click HERE for more information. The program can be tailored to your business model, product, service offering and industry segment. It has been resonating quite well with franchise and restaurant brands.
Every week for the past year or so I’ve read the dismal news of restaurant closings across the country. It doesn’t appear that hardship was partial as the closings run the gamut from small cafes to large fine dining establishments, from small towns to large cities, and in both blue and red states.
The bottom line is that it’s becoming more and more difficult to successfully operate a restaurant today. Yet, many restaurant operators hang on, and for a multitude of reasons. I’m certainly not going to debate a person’s reasons, especially emotional reasons driven by passion, commitment and pride.
Instead, I’d like to focus on ways to make things better, to whatever extent that may be possible. I am of the mindset for these operators that failure is not an option. So, let’s give it the old college try to help. Well, it’s more than a college try as there are effective strategies being implemented by quite a few restaurant operators across the country.
With restaurants surviving, and with some actually thriving, there is hope. However, standing still, and continuing to do the same things over and over again, day after day with the same results is absolutely insane. There’s even a famous quote, albeit mistakenly giving credit to Albert Einstein for saying it, “The definition of insanity is doing the same thing over and over and expecting different results.” Nevertheless, it is a true statement!
Last week I revisited a strategy that helped a number of restaurant clients as lockdowns had been mandated. If you missed the article, Revisiting the ‘New Normal’ for Restaurants, you can read it HERE. As I wrapped up the article, I indicated I would soon be sharing my recommendations for driving business and repeat business to restaurants (as well as any consumer-facing business). Well, today is that day!
Please note: At the end of this article, I will share links to my recent series, Preparing for War: You vs. Recession that provides supporting details to some of the tips listed below. I highly recommend reviewing the same for full understanding.
6 Ways to Drive Restaurant Sales and Repeat Sales in Bad Times (and in Good Times)
First things first. The ultimate goal must be on striving to deliver positively memorable experiences, at all times, and to customers and employees alike. As the restaurant operator, owner, or whatever the title, the commitment must start with that person. Positivity, regardless of what is happening that particular day is paramount to the delivery of positively memorable experiences. It must be a proactive approach and one that is contagious.
Utilize loyalty programs to keep your brand in front of customers. Loyalty programs should not be looked at as just for the purpose of promoting specials and celebrating birthdays & anniversaries. Complement typical efforts with frequent messages showcasing a new menu item created by an employee or as suggested by a customer, recognizing long-term employees as well as long-time customers, and even spotlighting vendors and their efforts. As much as possible, make it personal. Use names. Make it real. Think… Loyalty & Family. Create a family-type environment to develop family-type relationships!
Look at social media as the integrated platform that it is. View it as communication central. All efforts pertaining to driving positively memorable experiences should be shared across the brand’s social media platforms. Yet, not just replicated from one to another. Similar messages, but not exactly the same is key. Use a different photo with the same message. Utilize photos AND videos to allow customers a glimpse into the restaurant, front of the house and back. In addition to plates of food, let them see smiles, cleanliness and organization. Pay attention to detail as social media is highly representative of the brand in customers’ minds.
Speaking of attention to detail, it’s also imperative in the restaurant itself. Think Disney or Apple. Some may question how attention to detail would drive business. Well, it drives repeat business, positive reviews, recommendations to friends & family, etc. Be proactive in creating attention to detail as an initiative to be looked at from the customer’s perspective including ALL things that may be viewed by the customer. From the parking lot to the restroom, look up and down as if on a virtual tour. Make sure everything is perfect just as would be the case if family were coming to your home for a special dinner or event.
Many believe communicating with customers means talking to customers, blasting out messages, etc. but it’s also about listening. However, listening to understand as opposed to listening to speak is key. Following up AND following through with customers should be considered as a single step with parts A and B necessary to complete the action. One without the other could create issues. Ensure that customers truly believe they are being listened to and are being understood. The best way to do so is to be proactive in responses not only to their complaints and requests, but also to their kind words.
Communicating after an experience may be the icing on the cake to making a customer feel loved, to feel wanted. Using a simple version of the Net Promoter System (see articles linked below) is a great way to do so. To whatever extent that may work in a particular restaurant, asking a customer to grade their experience is quite effective in ensuring repeat business, or at the very least in keeping negatives off the review sites. Sure, there are customer surveys that come along with the check but personally, I believe they’re too long and vague. Simply, two questions should be asked. On a scale of 1-10 with 10 being best, how would you rate your experience? And what could we have done to have earned a higher score, even if just by a single point? Asking these questions as close to the timing of the experience does wonders to letting a customer knows that they are truly valued. Share the results with staff for added value to the business. A side thought: ask employees the same questions of them with respect to their experience working at the restaurant?
Just one more. I’m a firm believer in, just one more. Just one more item ordered. Just one more visit by a customer each week, month, etc. Just one more positive review. Just one more referral or recommendation. Just one more time to consider the restaurant. When enhancing the experience with a personal touch, just one more becomes a reality. People trust a brand but desire to do business with people. They especially want to do business with people who care, who are kind, who listen, and who go the extra mile.
If I had listed various advertising and marketing suggestions with significant expense, I would be hearing that they’re unaffordable during tough times. However, although the above is tied to labor, which is an expense, they are affordable and especially as sales increase. I think an important question to ask (and answer) is more about the commitment to follow through.
Have a great day. Make it happen. Make it count!
Links to the articles from the Preparing for War: You vs. Recession series:
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 via a LinkedIn message, by email to Paul@Acceler8Success.com, and by phone or text at (832) 797-9851. Learn more about Acceler8Success Group at Acceler8Success.com.
Bring the Series to Your Organization
If you’re interested in having this series presented to your organization, either as a webinar, workshop or conference break-out session, please click HERE for more information. The program can be tailored to your business model, product, service offering and industry segment. It has been resonating quite well with franchise and restaurant brands.
Over the weekend, I was reflecting upon how things have changed and disrupted business, and life as we knew it. Buzz words were thrown around, probably more so than for anything else except to give reason to necessary changes; the same changes that were needed to be made in order to adapt to a changing business world.
Ultimately, not adapting was reason for error, and for failure. But to some, it was “okay” because there was [false] justification – the pandemic. At other times, false justification includes a plethora of reasons, well, excuses. Hey, I’ve found myself falling into that trap at times, especially when others get in your ear as a way of justifying their own actions or inactions. Of course, some are just flat-out negative.
Definition of “adapt” – become adjusted to new conditions.
While large numbers of businesses have failed, many entrepreneurs responded to the challenges by adapting, innovating and creating to not only survive but also to thrive. Failure was not an option in their minds. So, why were they able to face the challenges head-on and succeed with their plans when others failed?
I believe the reason is quite simple. First, and possibly foremost, they remained positive and made sure their positivity was felt by their teams, and also their vendors & suppliers and all stakeholders within and around the organization. They made certain to ensure everyone was onboard for rough waters ahead, albeit with confidence being instilled by their leader.
Further, they succeeded because they buckled down on business fundamentals – customer experience, employee experience, and culture. They also tightened up on spending, watching pennies but not to the point of stepping over a dollar to pick up a penny. They were proactive in planning ahead, taking the time to understand and realize trends, affording them the time to negotiate, source elsewhere or to be creative.
They thought outside the box, acted swiftly and decisively, remained open-minded to possibilities and ultimately, not only kept afloat but were able to capitalize on opportunities. At times, they pivoted and created a new box, either as a new direction or as a complementing opportunity.
Essentially, they adapted to the times!
A quote by management guru, Peter Drucker comes to mind:
“The entrepreneur always searches for change, responds to it, and exploits it as an opportunity.”
If your business is still chugging along, congratulations are in order as you’ve survived to this point. However, just surviving is not what entrepreneurs work for, right?
With economic uncertainty and a new set of challenges ahead, it’s important, if not vital to be proactive in your actions. Below are 5 tips to help you adapt:
Keep an eye out for changes and be alerted to shifts in market direction whether consumer or supplier centric. Be proactive in thinking about the ‘what ifs’ so that you’re ready to turn on a dime, as necessary.
Accept the idea of change. Embrace change by being ready to act accordingly in a swift, decisive manner. If prepared to do so, any sense of hesitation will be minimized.
Be open to possibilities. This may mean looking at things a bit differently in order to realize options and opportunities. After all, you’re an entrepreneur. Do not stop being one!
Keep an eye on your competition while also keeping an eye on your industry. Know what’s going on in your local market. Be informed. Be aware.
Be conscious of your mental health. Form alliances with fellow entrepreneurs and business owners. Open up to loved ones to ensure they understand what you may be going through. Sometimes a hug can change a mind-consuming burden into a glimmer of hope and optimism, and a clear mind.
If you were to do a Google search for ‘entrepreneurs and weekends’ or any combination of words including both of these words, one would find more than could be read in a day that appears to have relevance. Although, that relevance is on both sides of the coin.
One side showcases the necessity and desire of entrepreneurs working seven days a week. The other side presents the case of work / life balance and necessary rest. Both philosophies could be looked at as the right way with a laundry list of successful entrepreneurs listed on both sides. If the lists were determined by reason or justification, additional lists would be required.
Sure, times have changed, and the business environment has kept pace. A push for a 4-day workweek certainly appears counterintuitive to entrepreneurs working weekends. Yet, working remotely could be embraced by the entrepreneurs that desire to seemingly work 24/7 without having to ‘waste’ time commuting to an office.
On the flip side, is it possible for an entrepreneur, creative and innovative as is typical of a successful entrepreneur’s traits and characteristics to actually shut down for two or three (holiday weekends) days at a time? Or if they did take the weekend to enjoy some rest & relaxation, would that time be spent exclusively on non-business activities?
I guess we’d have to identify ‘business activities’ to have a true understanding. Apart from actually crunching numbers, drafting proposals, outlining strategies and reading reports, do business activities include spending time thinking about new ideas, reflecting upon decisions, thinking ahead and even reading business-related books & publications?
Is it possible for an entrepreneur to completely shut down for the weekend? And truly shut down without a glimpse at or about anything that is even closely related to business? Is it possible to clear one’s mind?
Further, considering an entrepreneur’s passion and commitment to his or her venture, is it really possible for them to turn on a dime and focus elsewhere?
I believe the true answer to these questions comes down to balance. After all, it’s impossible to run 24/7 without burning out and / or adversely affecting one’s health. That’s a given. By the same token, is it practical to completely shift for the weekend and then shift back just two days later?
And is it really two days or are we ignoring the often-recommended practice of preparing for the week ahead Sunday evenings? And when does the weekend start – Friday nights or Saturday mornings?
Yes, balance is the answer but also essential is developing one’s business in a way to not control the entrepreneur’s every waking minute. The entrepreneur’s mindset must also adjust to delegate accordingly. Building a team is key. As is developing the right culture.
Basically, there must be a Yin and yang structure within the entrepreneur’s mind to allow, ensure work and life co-exists, as opposed to a this or that scenario.
So, sleep a little later than usual this weekend. Work out a little longer and harder. Spend quality time with your loved ones. Grab an afternoon nap. Take a few hours for a leisurely lunch or dinner. Hit the links with your friends. Do it all or do nothing at all as that’s okay.
However, don’t feel like you have to do any of it and certainly don’t do things out of guilt or doubt or because some articles say you should do things a certain way and within a certain schedule. Do what makes you feel well-rested physically AND mentally. Do what you enjoy and what makes you happy.
And if entrepreneurship or your venture isn’t making you happy, it may be time to re-evaluate what it is that you do moving forward.
Make it a great weekend. Make it happen. Make it count!
About the Author
With more than 40 years of experience in franchise, restaurant, and small business management and development, Paul Segreto is a respected expert in the entrepreneurial world, dedicated to helping others achieve success. Whether you’re an aspiring or current franchisor, restaurateur, or entrepreneur in need of guidance, support, or simply a conversation, you can connect with Paul at paul@acceler8success.com.
About Acceler8Success Group
Acceler8Success Group empowers entrepreneurs, founders, and business leaders with personalized coaching, strategic guidance, and a results-driven approach. Whether launching, scaling, or optimizing a business, we provide the tools, mentorship, and resources to drive long-term success.
In this the final segment of the Preparing for War: You vs. Recession series, I’d like to focus on YOU. That means, YOU the entrepreneur, the founder, the business owner, the leader, the CEO or whomever is charged with business performance and ultimately, the business succeeding according to defined goals. Especially in challenging times, how do we ensure that you perform at the highest level possible without stressing out and /or burning out?
At Acceler8Success Cafe, we’ve spent a great deal of time discussing mental health awareness and especially as it relates to entrepreneurship, business ownership, and leadership. Articles I’ve previously shared here about Mental Health are appropriate to share for this final segment of the series.
In late-May as Mental Health Awareness Month was coming to an end; I shared the following:
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.
Loneliness, Depression, Fear: All Contribute to Mental Health Issues
Some, but not nearly enough has been written about entrepreneurs & celebrities and their battles with mental health. Loneliness and depression continue to occur within the ranks of both groups at an increasing rate and although failure (or fear of failure or a drop from superstar ranks) may be a driving force, it’s often not the sole deciding factor.
Is it the quest for perfection? Is it a blinding passion that nothing else is visible? Or a control issue where no one can do it better, so it’s dealt with alone?
Michael Dermer has written a great book, The Lonely Entrepreneur and has developed a membership site of the same name that is a great resource for entrepreneurs. Strategic Coach has developed a great program for entrepreneurs. There are others, as well.
But are current efforts enough to slow down the alarming rate of suicide among entrepreneurs – and often more in the spotlight than entrepreneurs, celebrities? As successful as they were, what were the deciding factors leading to the suicides of chef and TV personality Anthony Bourdain and fashion designer Kate Spade?
The deaths of Bourdain and Spade by suicide have thrown the spotlight on celebrities and depression. Instead of bringing them happiness and freedom, for many, being sought-after, rich and at the top of their game leads to an identity crisis and ruminations on their self-worth.
And now, Naomi Judd, one-half of the iconic country music duo The Judds, reportedly died by suicide after years of struggling with mental illness.
This is a topic that must be brought front and center as we continue to grow as an entrepreneurial society with approximately 60% of the labor force in some type of self-sustaining endeavor whether it’d be as freelancers, sole practitioners, professional service providers, contractors, solopreneurs, and increasingly, musicians, artists, and authors.
Why is suicide more common among entrepreneurs, celebrities and creatives?
Noted Bollywood actor and television star Sushant Singh Rajput committed suicide a couple of years ago. His demise came as a shock to many as it was the fourth death of a famous personality from the Hindi film industry to pass away within months of each other.
Suicide is not a new issue, especially not in celebrity circles. These tragic deaths are also not limited by lines of work, ranging from boxers, designers, politicians and writers to actors, musicians and yes, entrepreneurs. What about influencers that have achieved celebrity status along with becoming rising stars in this relatively new class of entrepreneurs?
There was a string of influencer suicides in 2021. All unfortunate and tragic occurrences that took young lives, they left entire fan communities in mourning for their favorite stars who had secured places as standing icons of inspiration across fields, from beauty to travel to farming to sports. But what often goes ignored when reviewing these moments of tragedy is the kind of impact the internet is having on our mental health, every single day.
It isn’t just online celebrities or creators partaking in influencer cultures who are burdened with the impossible expectations and virtual validation that the internet has become the one-stop destination for. Sadly, it can happen, and is happening, to many of us plugged into social media.
There is no conclusive line on whether all these influencer suicides came about as a result of social media impinging on mental health. But there is no doubt about the fact that a direct or indirect correlation between our use (or abuse) of the internet and offline consequences.
So, why do wealthy people kill themselves? Don’t they have it all?
The reality we often forget, however, is that celebrities are human beings, just like us. “We only see one version – one of glamour, fame and fortune,” explains Nance Roy, Ed.D, Chief Clinical Officer at The Jed Foundation. They may struggle with relationships, finances and illness. Adds Dr. Roy: “Celebrities may feel more pressure to perform, to be perfect and to keep up their image for fans, often making it more difficult for them to reach out for help.” Another critical point: a person rarely takes his or her own life because of just one reason. “Suicide is complex, and we often don’t know all the factors involved.”
Bullying, even of celebrities and other notable individuals is certainly a contributing factor as it is for our younger generations. In fact, the 10th leading cause of death in the U.S. and 2nd among people aged 10 to 34 (a person dies every 11 minutes), suicide was identified by the National Institute of Mental Health as a major public health concern. Suicide rates increased 35% from 1999 to 2018, briefly declining in 2019. However, reports of depression and anxiety – risk factors for suicide – had increased during the pandemic.
Talking About Mental Health
We need to reduce the stigma faced by people experiencing a mental illness. How? As Martin mentioned, we need to talk about it. Stigma remains a major barrier to treatment and care. Dr. Fink agrees: “How do we grieve and process except by speaking and sharing with others?” When people die of cancer, their illness is almost always part the public conversation. From his Haitian roots, Dr. Arty provides a global perspective: “As a world community, we need to be bold and unashamed in discussing this sensitive and painful topic. The discussion itself may save a life.”
Dispelling myths is also key. A common myth? “Asking someone if they are suicidal will not increase the risk that they will die by suicide,” clarifies Dr. Roy. Inquiring about potential self-harm in a compassionate way may instead provide an opportunity for the person to express their feelings and reach out for help.
Proclamation from The White House on National Mental Health Awareness Month
Each May we raise awareness about the importance of mental health and its impact on the well-being of all Americans, including children, adults, families, and communities across our Nation. We also give thanks to the dedicated mental health providers whose service and support improve the lives of so many Americans. We stand in solidarity with those who are experiencing mental health conditions, renewing our commitment to providing them with the support they need and deserve.
Even before the pandemic, millions of Americans were experiencing stress, trauma, anxiety, and heightened levels of depression. The COVID-19 pandemic exacerbated those conditions, creating an unprecedented mental health crisis across our country. Communities of color, frontline workers, health care workers, and individuals with eating disorders have been disproportionately impacted, and the rate of depression across the country has more than tripled compared to rates in 2019.
‘Why’ is a question that is always asked by those left behind or hurt by these suicides – the answer or answers would never make sense to someone who loves life. As such, I look forward to thoughts on this with hope the discussion continues. Thank you!
If you feel you have no one to talk to, contact me. I’m happy to help. You can reach out to me on LinkedIn, by email to paul@acceler8success.com, or feel free to call or text me at (832) 797-9851. I will respond as quickly as humanly possible!
If you or someone you know is in crisis, please call the National Suicide Prevention Lifeline at 1-800-273- TALK (8255). It’s free, confidential and available 24 hours a day, 7 days a week.
When entrepreneurs are facing failure, what happens next?
Sometimes no matter how well we plan and how much effort we dedicate to something, we fall short of our goal and the end-result causes a variety of challenges and problems. Ultimately, it can adversely affect financial position, reputation, relationships, team spirit and much more. It can also start to spiral into personal life and affect family, health and overall well-being.
Unfortunately, such situations are often perpetuated by denial by placing one own’s head in the sand.
Well, when our head is in the sand, our most vulnerable ass-et is sticking out in plain view. Some will laugh. Others will point and snicker, definitely telling others. And a few will take advantage of the situation and current position of vulnerability. Sadly, we put ourselves in that position. Not because we swung and missed. Not because we didn’t see the forest for the trees. And not because we just flat-out saw something that wasn’t there. Instead, it’s because we didn’t keep our head high, accept the situation, learn from it and move on, and with laser-focus. That is exactly what entrepreneurs do when faced with failure.
Assistance for Your Organization
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 right here 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 also at Entrepreneurship411.com.
Bring the Series to Your Organization
If you’re interested in having this series presented to your organization, either as a webinar, workshop or conference break-out session, please click HERE for more information. The program can be tailored to your business model, product, service offering and industry segment. It has been resonating quite well with franchise and restaurant brands.
Small business & restaurant resales are on the rise. As well, many individuals are interested in acquiring a business to control their own destiny or to diversify their income. Together, this makes it an excellent time to consider owning your own business brokerage office.
A Business Broker is a professional executive, equipped with the knowledge to successfully complete the sale of an existing business, franchise or business opportunity. As the owner of your own business broker office, you will be working on a daily basis with other professionals: business owners, buyers, seasoned entrepreneurs as well as top executives in national franchise companies.
You will serve people from all walks of life. They will come to you for help to buy or sell a business. You will be their negotiator, counselor, marketer, broker, advisor and teacher. You will shape many futures. Your personal integrity will be supremely important. You will stretch your creativity and draw on all your knowledge and experience.
Our National Partner has successfully trained people from many walks of life to become top producers and business brokers. Success stories include CPA’s, Attorneys, Bankers, former mid to high level management executives; others who have successfully operated their own businesses, and people with a high ambition to learn. People who feel that they are ready to expand their capabilities with the leader in a dynamic and growing industry will feel at home owning their own business brokerage office.
ADVANTAGES OF OWNING YOUR OWN BUSINESS BROKERAGE:
– Executive business opportunity – Low initial investment from $25k – Multiple profit centers – Excellent commissions – No royalty or commission split… Not a Franchise! – Growing database of businesses & franchises for sale – Initial training, marketing assistance and on-going support – Network of 70+ offices throughout the U.S. and abroad – Brand founded in 1981
Surviving through difficult economic times, it’s essential to keep the sales pipelines full, to keep customers coming back for more, to keep employees happy, to keep strong relationships with vendors & suppliers, and to keep moving forward. But how likely are these scenarios (goals) considering the current state of uncertainty compounded by rising costs, fragile supply chains, and a somewhat undependable or unreliable workforce?
As we continue the series on the war against recession, over the next few days we’ll focus on delivering positively memorable experiences as the third cornerstone in the action plan to survive and remain standing after the dust settles. As we wrap up the week, we’ll turn our focus to developing the right culture throughout your organization as well as for all who touch the organization.
Creating and delivering positively memorable experiences is more than just customer-focused efforts. Certainly, the customer experience is key to business survival and growth but so are the experiences shared by staff, partners, vendors and all who “participate” in the daily activities of your business.
Magical experiences and the WOW factor!
Walt Disney focused on creating a magical experience for all who visited Disneyland and Disney World. When conducting customer experience training sessions, I ask the question, what is excellent customer service? Most of the answers are somewhat on track, except the focus is more on meeting customer expectation, not exceeding them. Essentially, it also means that if everything went right, the customer would be getting exactly what they paid for. Nothing more – leaving no room for error if the customer is expected to return.
I then ask the question, when have you been on the receiving end of a positively memorable experience? This exercise typically lasts an hour or so as the class realizes that the experiences they’re sharing are just examples of good or average customer service, but not positively memorable experiences. That is until someone mentions their family’s experience at a Disney destination.
Magical is often a word used to describe the experience but it’s most likely a word driven by Disney’s outstanding marketing campaigns. WOW is a word that often follows and is typically repeated multiple times in the description of the experience – a positively memorable experience. It’s at this time that the class comes alive with everyone chiming in, sharing their own Disney experiences. It truly is a WOW moment listening to them sharing their WOW experiences.
What is the definition of a positively memorable experience?
A recent Google search for the phrase, “positively memorable experience” revealed results that were exclusive to customer experiences, and TripAdvisor.com garnered one-half of all results with the phrase. So, what causes customers to be so emphatic about their experience that they deem them “positively memorable?” Further, what implores them to share their thoughts so openly within a public forum?
To answer these questions, we must first examine the definitions of the words that make up this phrase as shown on Google:
Positively: In a positive way, in particular; with certainty, so as to leave no room for doubt; used to emphasize that something is the case, even though it may seem surprising or unlikely.
Memorable: Worth remembering or easily remembered, especially because of being special or unusual.
Experience: Practical contact with and observation of facts or events.
Is it more expensive to attract a customer or to keep a customer?
If every customer experienced a positively memorable experience with a business, what are the potential scenarios that could come of that experience? Repeat visits and visiting more frequently? Sharing the experience with others and referring some directly to the business? Choosing the business over another business when a particular need or desire arises? As you see, positively memorable experiences compound positive actions and drives loyalty.
The icing on the cake, or the cherry on the top is that a loyal customer does not have to be attracted again and again. Meaning, marketing dollars have already been spent as opposed to repeatedly spending marketing dollars as is necessary to attract new customers. The investment in developing and keeping loyal customers is in the delivery of products and services at an extremely high level of satisfaction – positively memorable experiences.
So, when looking to increase business, management should focus on its current customer base with the goal of delivering positively memorable experiences to them at all times. Easier said than done, right? Yes, that is correct, which is why positively memorable experiences must also extend to all who are responsible for serving customers. Not only in how they deliver on the goal, but about what’s in it for them. Tomorrow we will focus on their WOW factor!
Have a great day. Make it happen. Make it count!
Help is just a message, 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 us for assistance or even if you just need someone to talk to. Please do not hesitate. You can reach us by email to Paul@Acceler8Success.com, and by phone or text at (832) 797-9851. Learn more about Acceler8Success Group at Acceler8Success.com and also at Entrepreneurship411.com.
Just like an experience at your local cafe, I’ve planned for Acceler8Success Cafe to be conveniently located when and where you desire or need to relax, enjoy a cup of coffee, and catch up on some time for you. My goal is for Acceler8Success Cafe to be your virtual cafe, a place where you may frequently visit to enjoy a few minutes of leisure time to read, think and reflect about ways to improve and succeed in today’s crazy business world.
I strive for your experience to be memorable by providing learning opportunities, by presenting different perspective & insight, by spurring thought & reflection, by encouraging interaction, and by spotlighting topics that, quite 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 objective is to provide an opportunity for you to begin your day and the week ahead informed and with ideas that possibly could accelerate your success.
So, before we jump into this week’s review, how about starting today with a smile? A positive thought? A nice memory? A thankful moment? And what better way than doing so than with the aroma of fresh, hot coffee filling the air from your favorite cup or mug?
We started the week with a celebration of our country’s independence. This article discussed what it means to be American, and how to be an American from the American Dream to a Shared Set of Values.
The belief in the American Dream and living by a shared set of values are deeply embedded in the United States culture. Commonly held values help drive what it means to be an American, set a standard of what’s good and fair in society, and are critical to upholding a culture’s shared beliefs.
While not all Americans share the same views, most Americans share a common set of values. L. Robert Kohls, a renowned author dedicated to research on cultural values, developed a list of 13 commonly held American values which were included in this day’s article.
On Tuesday, thinking about what it would take to survive during a time of economic uncertainty I included a powerful story about the power of choices.
After all, we know it’s going to take a great deal of effort, a lot of work, long hours, diligence, and honest evaluation. Of course, that is if we choose to do so.
It will be about making the choice whether to change, or to sit idle and ride out the storm. Choices. Such a simple concept, yet so much riding on whether the right choices are made, or not. At times, we know that by just making a choice, right or wrong is better than remaining undecided.
Spurred by a high level of interaction by the Acceler8Success Cafe community, Wednesday’s article focused on the optimism shared the day before. Although, I did find the interaction a bit unusual as most of the interaction came directly to me as opposed to being posted as comments.
I strongly believe those that contacted me directly wanted more than to just share their thoughts. They wanted interaction. They also wanted validation their actions were correct. As well, I believe a few wanted a pat on the back and an attaboy! But I felt there was even more to it – they were all excited to share their experience. That, in and of itself, made me proud of the effort being put forward with the Acceler8Success Cafe platform.
As I sat down to write Thursday’s article, I felt compelled to continue with the discussion about surviving during a period of economic uncertainty. I decided that over the next week or so, I would focus this newsletter on helping individuals prepare for the looming war against recession. I addressed recession as war because it will be a series of battles, it will take varying strategies including when to be on the defensive and when to be on the offensive, and it will mean fighting for small victories in order to survive when the fight is over.
Looking ahead, now is the time to fortify our arsenal, assessing what must be repaired or replaced. We must evaluate our skills, improving as necessary and learning new skills, as well. We must rally our troops and ensure all who will be helping us are properly trained and have the necessary firepower for combat. Essentially, we must plan for the inevitable fight ahead. As such, I began the series by addressing personal branding and its role in the war against the recession.
The series continued Friday as I talked about the difference between playing to win or playing not to lose. There is a difference, a big difference between the two. How it’s addressed is all in the planning before taking action. However, it’s essential to know the difference and plan accordingly sooner rather than later.
With a nod to the financial professionals who do all they can to keep our businesses within the rails, and especially so during the pandemic, I emphasized the necessity of acting proactively to drive sales. After all, only so much can be done to protect the finances of a business. Without sales, there would be little to nothing left to protect.
On Saturday, I wrapped up the week by sharing my personal perspective on the continuing conversation about a 4-day work week. Although not part of the survival series launched earlier in the week, I know it will be an important topic in addressing labor issues that have been front and center throughout the pandemic – issues that continue to be problematic for many business owners. I’m sure the discussion about a 4-day work week will continue for some time. It will be an interesting one for sure.
On the Lighter Side
I saw this image pop up in my Facebook Memories this morning and again, I thought it to be a very interesting proposition. If only it were possible, even just one time. Kind of a mulligan in life. If only…
I recall reflecting upon it quite a bit and changing my mind multiple times, mostly depending upon what I thought I would want to discuss. To that end, I had decided to list my desired topics of discussion in seven categories: emotional (family member), interests (sports, cooking, health), spiritual (religious), career (education, networking), business (entrepreneur, founder), motivation & inspiration (most categories above) and fiction (interesting, fantasy).
I have found this exercise to be eye-opening. Especially, as I compared my original list to the list I developed today. Mostly, I believe it has to do with differing thoughts for the times. I can see an article about this in a future edition of Acceler8Success Cafe. In the meantime, who would be on your list today?
Have a great day (and week ahead). Make it happen. Make it count!
Such a powerful quote consisting of only eleven words. “The best way to predict the future is to create it.” as quoted by Peter Drucker pops up often, and most likely more so if you’re a small business owner, franchisee, restaurateur or entrepreneur.
It’s a take charge, take control quote that can be interpreted as being both inspirational and motivational. But from a practical standpoint, is it easier said than done? Is it possible? Feasible? Realistic? And during a period of economic uncertainty? Dare I mention, recession?
In order to come out alive on the back end of these challenging times, an action plan must be developed and deployed as quickly as possible. Essentially, if we’re to create the future, we must determine the vison for the desired outcome, along with the timeframe needed to get there.
What will it take? Who will be instrumental in executing the plan? What benchmarks will be established to gauge whether on the right path, or not? Will there be a contingency plan in place to shift as may be necessary? At what point will it be time to make hard decisions? Very difficult decisions? What will determine when drastic action must be taken, and potentially, what will that look like? What can be anticipated? What can be projected? What is practical, and what is not?
Yes, definitely a lot of questions to be answered. It’s going to take a great deal of effort, a lot of work, long hours, diligence, and honest evaluation. Of course, if we choose to do so. It is about making the choice whether to change, or to sit idle and ride out the storm. Choices. Such a simple concept, yet so much riding on whether the right choices are made, or not. At times, just making a choice, right or wrong is better than remaining undecided.
Nevertheless, change can only be implemented if the choice is made to do so. Choices. It has me reflecting on a story that has been bouncing around Facebook for quite some time. I don’t know the author, but the message is quite clear. As you’re faced with making the choice to take the action necessary to survive these challenging times, maybe even thrive, remember this very inspiring story. Refer to it often. I hope it motivates you to create your future!
I was waiting in line for a ride at the airport. When a cab pulled up, the first thing I noticed was the taxi was polished to a bright shine. Smartly dressed in white shirt, black tie, and freshly pressed black slacks, the cab driver jumped out and rounded the car to open the back passenger door for me.
He handed me a laminated card and said, ‘I’m Wasu, your driver. While I’m loading your bags in the trunk, I’d like you to read my mission statement.’
Taken aback, I read the card. It said, ‘Wasu’s Mission Statement: To get my customers to their destination in the quickest, safest, and cheapest way possible in a friendly environment.’ This blew me away. Especially when I noticed the inside of the cab matched the outside. Spotlessly clean!
As he slid behind the wheel, Wasu said, ‘Would you like a cup of coffee? I have a thermos of regular and one of decaf.’
I said jokingly, ‘No, I’d prefer a soft drink.’
Wasu smiled and said, ‘No problem. I have a cooler up front with regular and Diet Coke, lassi, water, and orange juice.’
Almost stuttering, I said, ‘I’ll take a lassi since I’ve never had one before.’
Handing me my drink, Wasu said, ‘If you’d like something to read, I have Good Housekeeping magazine, Reader’s Digest, The Bible, and a Travel + Leisure magazine.’
As we were pulling away, Wasu handed me another laminated card, ‘These are the stations I get and the music they play, if you’d like to listen to the radio.’
And as if that weren’t enough, Wasu told me he had the heater on and asked if the temperature was comfortable for me.
Then he advised me of the best route to my destination for that time of day. He also let me know he’d be happy to chat and tell me about some of the sights or, if I preferred, to leave me with my own thoughts.
‘Tell me, Wasu,’ I was amazed and asked him, ‘have you always served customers like this?’ Wasu smiled into the rear-view mirror. ‘No, not always. In fact, it’s only been in the last two years. My first five years driving, I spent most of my time complaining like all the rest of the cabbies do. Then I heard about power of choice one day.’
‘Power of choice is that you can be a duck or an eagle. If you get up in the morning expecting to have a bad day, you’ll rarely disappoint yourself. Stop complaining! Don’t be a duck. Be an eagle. Ducks quack and complain. Eagles soar above the crowd.’
‘That hit me right,’ said Wasu. He continued and said, ‘It is about me. I was always quacking and complaining, so I decided to change my attitude and become an eagle. I looked around at the other cabs and their drivers. The cabs were dirty, the drivers were unfriendly, and the customers were unhappy. So, I decided to make some changes. I put in a few at a time. When my customers responded well, I did more.’
‘I take it that has paid off for you,’ I said.
‘It sure has,’ Wasu replied. ‘My first year as an eagle, I doubled my income from the previous year. This year, I’ll probably quadruple it. My customers call me for appointments on my cell phone or leave a message on it.’
Wasu made a different choice. He decided to stop quacking like ducks and start soaring like eagles. I hope we all decide to soar like an eagle and not quack like a duck.
At this point, I’m reflecting upon our mantra at Acceler8Success Group. One that we must do better at doing within our own organization. Yes, a change is necessary and I’m making the firm choice to do so beginning today, the first business day of Q3 2022.
“Act swiftly. Act decisively. Make it happen. Make it count.”
It is the way to survive AND accelerate success. Have a great day.
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