As reported here before, we’re very excited to partner once again with Michael Dermer and The Lonely Entrepreneur. Their project, The Hispanic Entrepreneur Initiative continues to be of major interest to Acceler8Success Group as we continue to build upon a growing list of clients from Mexico and Latin America whose interests focus on entrepreneurship in the U.S. 

With a goal of empowering 100,000 Hispanic entrepreneurs, Hispanic entrepreneurs will be provided with free access to The Lonely Entrepreneur Learning Community – a one stop shop for the knowledge, tools and support an individual needs to start or grow a business. This access is provided free due to the financial contributions of corporations, philanthropies, individuals, and economic development organizations. 

Supporters include UPS, Microsoft, US Hispanic Chamber of Commerce, HISPA and Molson Coors and the initiative has been endorsed by over 50 Hispanic leaders including: 

• Dr. Juan Andrade, Jr. (President, US Hispanic Leadership Institute, Recipient – Presidential Citizen’s Medal) 
• Luis Ubinas (Investor, Entrepreneur, Past President – Ford Foundation, Past President – Pan American Development Foundation)  
• Dr. Loui Olivas (Professor Emeriti, W.P. Carey School of Business At Arizona State University)  

The challenges for entrepreneurs in general are great. The challenges for Hispanic entrepreneurs are even greater. And there isn’t just one “Hispanic” entrepreneur – there are entrepreneurs from various countries that face some of the same – but some different – challenges and opportunities.

In addition to lack of access to capital, many Hispanic entrepreneurs possess passion and great ideas but lack access to the knowledge and support they need to succeed.

With the help from corporations, philanthropies, individuals, and economic development organizations, the Hispanic Entrepreneur Initiative will change that by putting the tools in the hands of 100,000 Hispanic entrepreneurs.

How it Works

In this initiative, organizations sponsor a certain number of Hispanic entrepreneurs who receive free access to The Lonely Entrepreneur Learning Community – a one stop shop for the knowledge, tools and support a current or aspiring Hispanic entrepreneur needs to start or grow a business. The platform addresses both the business and personal issues Hispanic entrepreneurs face and provides multiple ways for Hispanic entrepreneurs to get the answers they need:

• Knowledge: 500 learning modules that cover both the business and personal issues entrepreneurs face including issues Hispanic entrepreneurs face

• Tools: 100s of templates (e.g., business plans, legal agreements) and reviews of the top vendors and solution providers they need (e.g., accounting software) including Ongoing Support via Two Channels: multiple ways to solve their pressing challenges, Guidance from the TLE Team in Our Community: where entrepreneurs can ask questions and get answers from members of the TLE Team, Group Coaching: entrepreneurs can sign up for an unlimited number of group coaching sessions on the various business and personal issues they face. If they miss sessions, recordings are available for future reference at any time.

• Funding Sources: 150+ funding sources available for entrepreneurs

• Vendors: 50+ vendor reviews, discounts and a list of “vetted vendors” (including some free resources)

• Procurement Opportunities: 150+ opportunities made available by large organizations

• Business and Personal Issues: our program not only covers business issues, but all the personal issues entrepreneurs face (dealing with stress, ego and humility, leading)

• Daily Perspective: an entrepreneurial “tip” sent to every individual each day

• Access: 24/7 access from any desktop or mobile device

Having the Learning Community at every step of the journey significantly increases their chance of success.

The Needs of Different Hispanic Entrepreneurs

There isn’t just one “Hispanic” entrepreneur. There are native born and immigrant entrepreneurs from various countries that face some of the same – but some different – challenges and opportunities. In addition to providing answers for the issues facing all Hispanic entrepreneurs, the initiative addresses the issues and opportunities faced by the different Hispanic entrepreneurs, including entrepreneurs from: Mexico, Puerto Rico, Brazil, Colombia, Argentina, Venezuela, Guatemala, Cuba, Chile, Spain, El Salvador, and Peru.

Program Supporters

The initiative has gotten off to a fast start with programs launched by major corporations including:

• Microsoft empowering Hispanic entrepreneurs in El Paso Texas as reported in El Diario Mx and on television

• UPS launching its program at the L’Attitude 2021 conference to empower Hispanic entrepreneurs

• US Hispanic Chamber of Commerce

Benefits of the Program

There are multiple benefits to the program:

• Help Entrepreneurs: provide individuals with the knowledge, tools and support they need

• Proven Success: the program has been implemented successfully by a vast array of corporations, governments and charitable organizations

• Scalability: the ability to put the tools in the hands of a large number of individuals quickly

• Branding: various elements of the program would be branded including landing pages, access to the leaning assets and a group in the online community.

• Minimal Effort on Your Part: the program is turn-key and is executed with minimal lift on your part

• Turn-Key Execution: you are investing in a program that delivers turn-key execution

• Marketing Opportunities: making a program like this available and the success stories that come from it are powerful marketing opportunities

• Flexibility: to apply to the specific type, geography or group of entrepreneurs

• Measurement: the ability to measure activity and impact of the program

The program provides the opportunity to quickly get tools in the hands of a large number of current and aspiring small business owners.

Integrated Marketing to Highlight Impact

The TLE Team works with supporter marketing teams to maximize the impact on their public image:

• Public Relations: coordinated communications with media outlets to highlight supporter efforts

• Social Media: ongoing social media activities to show the impact supporter is having

• Success Stories: to be used in marketing and to inspire supporter audiences

Endorsements from Leaders

A coalition of stewards of the Hispanic community have endorsed the Hispanic Entrepreneur Initiative:

• Yvette Donado (former Chief Diversity Officer of ETS; Hispanic Magazine, 50 Most Influential Hispanics)

• Marcel Portmann (Latin America Advisor for +70 global brands; liaison to Inter-American Development Bank (IADB); former Vice President of Emerging Markets, International Franchise)

• Dr. Pilar Nava-Parada, (Philanthropist and Leader For Women Entrepreneurs with Mexican Origin)

• Dr. Joy Nicole Martínez (Raised $240m for nonprofits; inaugural member of Peace50 Community; Director, World Woman Foundation)

• Andrés Guardado, (Mexican Football star and his wife Sandra De La Vega)

• Sheila Ivelisse Borges, (Managing Director, Research, at Rutgers University; former Assistant Director – NYU Adjunct Professor/STEM Educator/Diversity & Equity – Columbia University in New York City)

• Gabriel Brodbar, (Social Impact Leader; former Executive Director, NYU Social Entrepreneurship Program)

• Nepherter Estrada (Charlotte Business Journal 40 Under 40 Honoree)

• Catherine Milone, (President, Junior Achievement of New Jersey)

• Ivonne Díaz-Claisse (Founder/CEO, Hispanics Inspiring Students’ Performance and Achievement (HISPA)

…and other notable Hispanic leaders.

Measuring the Impact

Three different areas are measured to ensure that current and aspiring entrepreneurs are getting the value of the Learning Community and moving toward the achievement of business results:

• Engagement – engage with the Learning Community and fellow entrepreneurs

• Achieve Key Business Activities – achieve business activities and improvements that are necessary steppingstones to achieving business results (e.g., form a company, prepare financials)

• Achieve Business Results – achieve key business results (e.g., increase revenue)

Each day, entrepreneurs in the program improve their chance of success.

For more information about this exciting initiative, please reach out to me or Acceler8Success Group president, Erik Premont here on LinkedIn. Or, if you prefer, please send either of us an email to Paul@Acceler8Success.com or Erik@Acceler8Success.com. We look forward to helping to make a difference for Hispanic Entrepreneurs everywhere.

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

The Emerging Franchisor Conference by the International Franchise Association is being held November 2-4 in Nashville, Tennessee. The event is described as rocket fuel for franchises.

A marketing message promotes the event as an opportunity to join other franchise leaders and innovators to discover the latest way to take your franchise to the next level. It goes on that you’ll hear from development experts, speak with operations gurus, discover next-generation opportunities. And you’ll have the opportunity to gather with industry leaders who are building the long-term success that creates real wealth for franchisor and franchisee. 

There really isn’t any ‘formal’ training on how to become a successful franchisor. Instead, it’s imperative to learn at industry events. So, if you’re an emerging franchisor, this event should be on your radar to attend. But please, don’t stop with this event as there’s a great deal for you to learn, and especially from practical experience of those that have been in your shoes as an emerging franchisor.

So, besides attending franchise events, an essential way to grow as a franchisor is to network with franchisors that have experienced success as a new, up and coming franchise brand. Visit with the founders at their corporate offices. Be sure to schedule time with them at franchise events. Develop relationships with two or three founders as informal go-to advisors. Consider forming an advisory board as your brand grows.

Unfortunately, I will not be at the Emerging Franchisor Conference this year. So, I thought it prudent to share some of my thoughts on emerging franchise brands and specifically about controlled growth. Having worked with many entrepreneurs exploring franchising as a growth and expansion strategy for their business, I’m often asked the question, “How does a new franchise company sell franchises across the country without brand recognition?” Here are a few of my thoughts…

Emerging Franchisor Brands: Controlled Growth is Key to Initial Success

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

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

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

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

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

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

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

Hub & Spoke Franchise Development Model

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

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

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

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

The results? Most likely the brand will immediately miss franchise development goals. Stakeholders will become upset as expectations are repeatedly missed. Before one knows it, the franchise system will be scrambling to recover. Resources will be thrown at various ways to turn things around. Decisions will be reactive to the next fire that is burning or of a knee-jerk nature out of shear frustration. Little if anything will be done proactively. As such, it will be a kiss of death for franchisor and franchisees alike. Sadly, it happens all too often but really, it does not have to be that way.

For information about how Acceler8Success Group assists Emerging Franchisor Brands enter the market and accelerate success, please visit our website at Acceler8Success.com.

As well, we offer one-on-one Entrepreneurship Coaching that many emerging Franchisors have found beneficial from day one as a Franchisor. Learn more about our coaching program at Entrepreneurship411.com.

Or, just reach out to me on LinkedIn or via email to Paul@Acceler8Success.com.

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

Sundays at Acceler8Success Cafe are focused on providing motivation and inspiration for the week ahead. My goal is to provide a positive foundation for the week that will complement the weekday activities at Acceler8Success Cafe. My intent is to do so as an extension of my commitment to help current and aspiring entrepreneurs achieve and accelerate their success.

Motivation & Inspiration

“It’s not that we spend five days looking forward to just two. It’s that most people do what they enjoy most on those two days. Imagine living a life where everyday are your Saturdays and Sundays. Make everyday your weekend. Make everyday a play-day…” – James A. Murphy, Author of The Waves of Life Quotes and Daily Meditations

“Are you bored with life? Then throw yourself into some work you believe in with all you heart, live for it, die for it, and you will find happiness that you had thought could never be yours.” – Dale Carnegie

“Life has no limitations, except the ones you make.” – Les Brown

“Always ask yourself if what you’re doing today is getting you closer to where you want to be tomorrow.” – Paulo Coelho

Success is not something you attain without putting in the effort. It is a mindset you must adopt to accomplish your goals and grow as a person, and it takes hard work.

Everyone wants to be successful until they see what it actually takes.

Professional athletes have bad stretches where their performance is lackluster. However, they often come back and end up with a stretch of superstar performances. Instead of wallowing in self doubt or making excuses, they learn from their mistakes.

They make the necessary improvements, and return to the field or court with determination to not only do better, but to rise to the occasion.

It is about attitude and how to respond to the challenge. It has to do with the ability to put the failures behind, albeit learning from them nonetheless.

Ultimately, failure mostly occurs as the result of quitting. Never, never, never quit!

“Pain doesn’t tell you when you ought to stop. Pain is the little thing in your head that tries to hold you back because it knows if you continue you will change.” – Kobe Bryant

Positive attitude leads to positive results.

“The one thing that I think is critical in the entrepreneurial spirit is that it’s all attitude. If you think you can, then you’re halfway there. If you say, ‘I can’t,’ then you’re defeated.” – Debbi Fields, Founder, Mrs. Fields Cookies

“I have always been delighted at the prospect of a new day, a fresh try, one more start, with perhaps a bit of magic waiting somewhere behind the morning.” – J. B. Priestley

“Gratitude is the single most important ingredient to live a successful and fulfilled life.” – Jack Canfield

‘Attitude of Gratitude’ is powerful in that it truly enables one to look at the world through a very defined filter of positivity and optimism, This week, share your Attitude of Gratitude for others to experience. Imagine the domino effect you could create!

Have a great week ahead. Act swiftly. Act decisively. Make it happen. Make it count!

As we know, many small businesses and restaurants are having a difficult time staying afloat due to rising costs due to inflation, supply chain issues, and labor challenges (Although, I’m not so sure about actual worker shortages). Feeling the inflation pinch, as well, customers are being more diligent as to where and when they may decide to enjoy a meal at or from a restaurant or choose to shop at a local business.

Although, as is often the case in challenging times, there are businesses realizing sales increases over pre-pandemic levels. Some businesses are actually expanding. Why and how they are thriving while others are barely surviving spurs a great deal of thought in my mind. I’m sure, there’s a lot to be learned from their success.

But the questions I have of late have more to do with the mindset of these business owners and how they’ve embraced [the need to] change – not just a shift or pivot, but actual change – even of the disruption variety. Changing direction, going against trends, acting on gut instinct, relying on intuition, seeing and acting upon a vision that no one else sees or possibly could even imagine all seem to be common denominators.

As such, would they be viewed as crazy to think different than others, than what might be expected of them or considered by others to be a normal course of action? Should they just go with the flow along with everyone else? Or, should they move toward taking full advantage of circumstances to develop a distinct point of differentiation and as such, a competitive edge?

We’ve been hearing quite a bit of late that entrepreneurship will drive our country to full recovery from the pandemic and from a possible or inevitable recession. In fact, coming out of past recessions, it was entrepreneurship that led the way. So, it does make sense for entrepreneurs to lead the way this time around. Yet, it appears the entrepreneurial mindset and spirit of many have given way to caution and/or, for obvious reasons, mental fatigue.

Feeling defeated and barely hanging on will do that to the best of people. Even ones that had been very successful in prior years. It’s akin to the old adage of playing not to lose instead of playing to win.

For example, a team could defend their goal with extreme tenacity and success, but sooner or later a ball may be deflected into the goal despite their relentless efforts. Unless the defense was complemented with an aggressive offense, the result will have the team on the short end of 1-0 score – best case scenario, a 0-0 tie.

The bottom line – a team cannot win by just being reactive. The same is true in business.

So, what will it take to not only survive through challenging times, but to actually thrive?

Will it take having the same drive and persistence as the Wright Brothers as they attempted to fly in what was essentially a homemade machine? How about with similar commitment and perseverance of settlers trekking across unexplored lands? Or, will it be along the lines of a quest to achieve something never achieved before much like explorers crossing an ocean for a new world or to set a flag on frozen ground in Antarctica.

All were considered to be crazy. Yet, they achieved success. Arguably, unbelievable success!

I truly love the mindset of Steve Jobs shortly after he returned to Apple, the company he founded as he launched the Think Different campaign. He started things off with these words:

“Here’s to the crazy ones, the misfits, the rebels, the troublemakers, the round pegs in the square holes… the ones who see things differently — they’re not fond of rules, and they have no respect for the status quo… You can quote them, disagree with them, glorify or vilify them, but the only thing you can’t do is ignore them because they change things… They push the human race forward, and while some may see them as the crazy ones, we see genius, because the people who are crazy enough to think that they can change the world, are the ones who do.”

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

Through the pandemic, change had been looked at as the New Normal. Before we dive into how the New Normal had quickly become the norm, I’d like to spur some thought regarding change with two questions:

How are you currently handling change? How will you handle change moving forward?

Maybe if we take look at the definition of change, it may help better understand change:

change (verb) – 1. make (someone or something) different; alter or modify. 2. replace (something) with something else, especially something of the same kind that is newer or better; substitute one thing for (another).

Change, has changed!

In the past, business leaders predicted threats and planned responses with a risk-management strategy. Today, however, the nature of risk itself is different… It’s right upon us, and repeatedly at that! Change, in and of itself has changed. Instead of a single occurrence, change has become a fluid, recurring event. As such, change has become constant.

Changes being implemented today to survive will continue to be necessary through recovery and beyond Most likely, repeated change will be key to future success as customers and clients will become accustomed to changes and look for them to continue. This will be the case even if it means changes are to run alongside what was once viewed as standard operations.

For example, think about the focus over the past two years on take-out & delivery in the restaurant industry. Customers are now expecting these welcomed additions to continue long after standard operations have resumed. So, what was described as the New Normal is now normal.

Actually, these additions to the business model have helped many businesses to recover faster, going from surviving to thriving as processes have been perfected and improvements have been made along the way. On the flip side, businesses that had considered the shift as a temporary solution for the times, have either continued to struggle, or have already closed their doors.

A proactive approach to change is key.

As businesses continue to face, seemingly one challenge after another, many have settled into a perpetual survival mode. Unfortunately, that will hurt more in the long run than the very challenges believed to be the sole reason for diminishing sales & profits.

Are these businesses just putting off the inevitable by essentially having become complacent and numb to recurring challenges? Most likely, yes. But it’s not too late to act in a proactive manner. Adjusting to challenges, offsetting or making drastic changes is the right strategy – one that is more inclined to work than just reacting. Often, just reacting is often too late.

Business owners must [always] be thinking about the next steps in addressing challenges, lest they fall short and lose the war (long-term survival) despite winning battles (short-term survival) along the way. In a world of constant change, non-adaptive behavior is inevitably a kiss of death for many businesses. Quite frankly, I’m very tired of the funerals!

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

Earlier this week, I read part two of an excellent series on marketing franchise opportunities. The series was published at 1851Franchise.com by Managing Editor, Luca Piacentini.

To say the franchising industry has taken a new shape in the last two years is a considerable understatement. Traditional marketing strategy has been uprooted in favor of new innovative strategies. However, despite the changes COVID-19 has brought, many brands still find massive success with old-school franchise sales strategies, whether it be franchise expos, direct mailers or television commercials. 

From this opening paragraph, of which I mostly agree, my mind immediately turned toward the mindset of today’s franchise candidates. Understanding their mindset is essential to understanding not only how best to attract them but to also effectively engage with them.

As I’ve addressed the mindset of franchise candidates several times over the years with edits appropriate for the current time, I’m again sharing my most recent article below and especially for today’s emerging franchisor. Although, it should also benefit even the most seasoned franchise marketing and development professionals.

I believe that to be the case as despite old-school franchise sales strategies still working, a one-size-fits-all strategy does not effectively address an expanding candidate base. Besides addressing current challenges along with candidates’ changing and evolving mindset, the candidate marketing net must be cast to a much wider audience. More importantly, it must be addressed so as to not miss growing parts of this widening audience!

The demographics of today’s candidates have grown beyond what was once typical for candidates. Franchise investment levels have both increased AND decreased from previous levels while industry segments have expanded, as well. No longer exploring franchise opportunities as only a way to achieve wishes, hopes and dreams, today’s candidates are also considering opportunities from a mindset that is focused on lifestyle and/or necessity.

To put a fine point on this, more so than in the past, today’s candidate base spans four and soon-to-be five generations with influence from one generation to another more prevalent than ever before. To confirm, just take a look at the following graphic about five generations working side-by-side today. No doubt they’re influencing each other and in some instances, partnering with each other in business.

Mind you, there are other considerations including how best to address minorities, immigrants, and culture. All must be addressed in strategy development and execution of plan. To that end, it’s definitely not a one-size-fits-all plan.

I look forward to addressing the expanding candidate base in future editions of Acceler8Success Cafe. For now, let’s focus on the evolving mindset of today’s candidates.

The article below was originally published in 2009, as Franchise Candidates: A Changing Mindset and then revised in 2014 as, Franchise Candidates: A Changed Mindset.

Recently revised under its current title, Franchise Candidates: An Evolving Mindset, the article is relevant today as franchising continues to evolve AND rebound from the pandemic and its unprecedented challenges. Compounding these challenges include the necessity of developing and implementing plans to address the looming recession and how the same could potentially hinder recovery plans and squash growth initiatives.

Franchise Candidates: An Evolving Mindset

Franchise brands will continue to explore and invest in more viable, effective lead generation strategies in order to stand out in an increase in industrywide efforts to attract franchise candidates. Think of the increasing number of franchise expos & shows and franchise broker (consultant, coach) networks as cases in point along with the proliferation of new franchise portals and lead generation companies. And let’s not forget the influx of ways to distribute content including podcasts, video, blogs and now, the metaverse!

Further, franchise brands are continuing with their commitment to social media and digital marketing having [finally] realized their positions as integral and effective components of these strategies. Sadly, but not surprisingly, a significant number of brands still have not realized the potential of doing so according to an evolving integrated plan thinking these marketing efforts are solely line-item costs as opposed to an investment/expense hybrid.

Today’s Candidates

A look at today’s franchise candidates will reveal they are more sophisticated, better educated (academically & professionally, as well as self-educated), and more technologically advanced than ever before. Demographically as well with more females and minorities (including a growing number of immigrants and refugees) seeking business ownership as a way toward self-independence. Multi-generational partnerships are adding to the mix.

In addition, and possibly even more so due to current economic uncertainty and challenges, including world events, the mindset of today’s candidates, regardless of background tends to be somewhat unsettled or uncertain in thought. Ultimately, this creates a sense of uncertainty and hesitancy in moving forward. Caution is a common thought expressed by today’s candidates.

To that end, today’s candidates are spending more time researching options and opportunities and doing so at a much slower, deliberate pace. In order to be diligent in the process, more time is being spent online reviewing page after page of information, constantly bookmarking, and moving back and forth from new information to saved information. They’re comparing notes for consistency across one platform to another as well as with other franchise candidates on social networking sites. As well, they’re gaining invaluable insight monitoring online discussion groups and forums.

Ultimately, today’s franchise candidates desire and need to be certain the franchise opportunity is as close to perfect for his or her (or their) situation, and as humanly and practically possible.

Especially after previous recessions, franchise candidates have used their capital gains to invest in franchise opportunities, often being able to leave their principal investment untouched. There was a sense of throwing caution to the wind because they were investing profits, often considered as found money from ungodly profits, at least by today’s standards. Does anyone remember when money markets kicked out 17% returns?

Unfortunately for the typical franchise brand but possibly and rightly so for the future of franchising, a multitude of individuals looking at franchise opportunities today are looking at things differently. They have to. They must.

Many are transitioning corporate executives and mid-level managers staring at the back end of what were previously described as great career paths, now trying to squeak out just five or ten more years before they actually retire, or when they could afford to retire. Facing the challenge of younger talent, new technology, a rapidly changing business environment, along with living longer lives many opt to “buy” another job and explore franchising and small business ownership.

What has Changed?

Here’s the difference between today’s recession, and of those in the past. As huge fortunes have been lost, and large gains have not been realized in current financial markets, today’s candidates are forced to invest all or part of their remaining nest eggs in order to enter the world of business ownership. Of course, most everyone knows and somewhat understands the risks (or that there is risk) involved in owning a business. But in yesterday’s business environment, many franchisees and business owners were “gambling” with profits.

Certainly, no one wanted to lose money in a business venture. But many had fallback positions with funds still in retirement accounts and if they had to, continued employment including second and third jobs.

For many of today’s candidates, failure is not an option because fallback opportunities are fast becoming more challenging. Maybe even more so due to recent views and actions against side-gigs & freelancing and monitoring of Venmo & Pay Pal transactions. Actually, I believe many of today’s candidates might not have even considered franchise or small business ownership in the past. For tomorrow’s candidates that may be even more the case.

So, as many individuals explore their options, they will focus more and more of their efforts online. Franchisors must embrace this fact and continue to dedicate more resources to the internet and expand their efforts within social media to complement and enhance their traditional franchise marketing strategies. They must focus more and more on bringing their messages directly to their audience as opposed to just relying on attracting them, and in an interactive way. By doing so, they’ll realize multiple benefits for their entire system including:

– Developing and strengthening brand awareness with franchise candidates and consumers alike – including those who may not know much, or anything about franchising, or quite frankly about the brand itself.

– Generating franchise leads that are genuinely interested in exploring entrepreneurship and to that end what franchising and small business ownership have to offer.

– Introducing particularly new industry segments that may include opportunities that could be the right fit for candidates to achieve their goals and objectives.

– Establishing an interactive environment of information sharing, communications and education that will become the backbone of future franchise relationships throughout emerging and legacy franchise systems alike.

– Creating positively memorable experiences and the right culture for franchisees (as well as for all brand stakeholders) the foundation for future growth fostered by excellent validation and multi-unit development.

Last, many franchise candidates previously viewed franchising and small business ownership as a way of achieving their wishes, hopes and dreams, regardless of what those may have been. Today, it’s more about goals and objectives, AND necessities. All within franchising must fully realize this and understand the evolving mindset of today’s franchise candidates in order to survive and grow today, and tomorrow.

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

If you’re a founder or senior executive of a franchise brand and you were unable to attend the Franchise Leadership & Development Conference this week in Atlanta, I highly recommend you don’t miss it next year. I’ve always found the event produced by Franchise Update Media Group to be one of the best events on the franchise conference circuit.

The following are some points I’ve pulled from notes that I had taken at past FDLC events I had attended. I trust you’ll find them useful, and especially if you’re in a leadership position with an emerging franchise brand. Certainly, it doesn’t replace what you would have learned at the conference, but let’s consider it an early step on your path to success as a franchise leader.

8 Key Focus Areas of Successful Franchise Leadership

From professional athletes to high-tech programmers, every career requires different talents. However, what makes a career as a leader of a franchise system different are skills that do not have to be acquired through rigorous training or years of schooling.

Instead, success in franchise leadership can come to anyone who is determined, dedicated and willing to invest in their personal development—and will pay off tremendously by developing a network of franchisees who respect your leadership traits. Below are key focus areas for individuals to become successful brand executives and great well-respected leaders:

1. Consistency: As the franchisor, your franchisees will be looking up to you. Being consistent and following through on your word will let them know that they have a leader they can count on.
2. Planning: Your franchisees are invested in the business, so it’s natural that they will want to know where it is headed and the steps necessary to get there.
3. Communications: Make certain to share your vision with franchisees as well as with your team in an open, transparent manner to ensure confidence at all levels.
4. Support: As a franchisor, everyone in the organization is your team member—meaning you have a vital role as a pillar of support and encouragement.
5. Positivity: Focus on creating a positive space for your franchisees. This will help strengthen your bond and let them know you have their back.
6. Respect: Every franchisee makes mistakes—it’s just a part of the business. Making sure your franchisees know you still respect them even when they slip up will go a long way. The same will be true for franchisor mistakes, but only if earned through mutual respect.
7. Face Time: You can’t be expected to visit every franchise location every day. However, the occasional impromptu visit will help you learn more about the day-to-day operations and struggles of each individual location—and let them know you’re invested in solving their problems.
8. Passion: Franchising means getting to work with talented, passionate colleagues who love what they do. Believe in the brand and believe in your franchisees—your passion will shine through and inspire them, as well.

I’ll leave you with the following from MindTools.com to ensure there’s no misunderstanding about leadership:

In its simplest form, leadership is influencing other people to follow. Therefore, anyone who can influence people to follow them has leadership qualities.

Leadership happens at all levels within organizations and society, not just among those who work in defined “leadership positions.”

Leadership means different things to different people, different cultures, and in different situations. But it is always a multifaceted role.

Effective leadership enables followers to succeed. It sets direction, builds a vision, and adapts as circumstances require. Leadership is about mapping out where you need to go to “win” as a team or an organization. It’s dynamic, exciting and inspiring.

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

Owning and operating a small business was once the exclusive domain of the risk takers of the business world. The true entrepreneur had a distinct flair for creativity, innovation and vision.

He, and I emphasize “he”, knew how to operate outside-the-box. He knew how to make things happen. Many times, this individual had little choice as he knew from an early age, he would be responsible for shaping his future and for making it on his own.

Formal education was usually limited and often just a far-fetched dream. Corporate life was not even an option. Besides, he couldn’t be told what to do, how to do it and when to do it. No way. No how.

Well, times certainly have changed in the business world. More so recently as many individuals are again faced with economic uncertainty. An advanced degree is no longer the fast track to success.

As such, many individuals, especially more women than ever before are deciding enough is enough. Wanting to control their own destiny they’re increasingly choosing small business ownership as opposed to leaving their future in the hands of Corporate America.

Sure, the financial aspects are vitally important. That’s a given. However, today’s new small business owners describe their number one priority as establishing true balance in all areas of their life.

They desire the freedom of furthering their own personal growth but will limit that growth by their abilities and resources, finding it more important to help others improve the quality of their lives and build long-term mutually beneficial relationships; both business and personal. They firmly believe people and relationships to be the foundation of success even more than money itself as they have determined money (profits) will be the end result of their actions.

This is where the road gets tricky as a decision must be made between starting their own venture and assuming total risk or reducing the learning curve and limiting the risk by investing in a franchise where they would be in business for themselves but not by themselves.

The key questions posed by many emerging small business owners are asked very emphatically, “Can I achieve my goals and objectives as part of a franchise system?” and, “Do I have what it takes to be a franchisee?”

In addressing these questions (and concerns), it’s relatively easy to analyze the two and realize, beyond the viability of a particular franchise brand as addressed in due diligence of the franchise concept itself, the answers are really contingent and dependent upon each other.

The answers actually lie in understanding the mindset required to be a franchisee. Once understood, a choice must be made regarding the desired path either as an independent small business owner or as one of the hundreds of thousands of franchisees across several thousand franchise concepts worldwide.

The typical franchisee must be willing to follow and adhere to a franchise company’s business system and ultimately, promote the same within their new franchise community at all times. It must be completely understood the system cannot be changed by the franchisee nor can their business be operated differently than the franchise company requires as the system is proven and uniform across the chain.

It’s this uniformity throughout the organization that is paramount to brand awareness leading to company and franchisee success. It is the foundation of an interdependent relationship between both parties to the franchise agreement.

A franchise is almost definitely not the right choice for the business maverick or renegade. Certainly, there is an important place in business and in our hearts for these unique innovators. If not, we wouldn’t know Apple or Amazon as they’re known today.

Even McDonalds, as probably the greatest franchise of all time that stormed through the country under the leadership and direction of a true maverick, Ray Kroc, would not have been successful without franchisees being required to strictly follow and adhere to the McDonalds system without fail. No questions asked and no room for negotiation.

Entrepreneurs will be around for centuries to come blazing trails as never before. Some will actually plan to choose franchising as an expansion strategy and build the foundation of future franchise concepts. They will provide a choice for tomorrow’s small business owners on whether to go it alone or invest in a franchise.

And it will be those franchisees of tomorrow that will follow, promote and expand those systems that will prove to be the steel, bricks and glass built upon the foundation of new franchise companies. Thus, continuing the growth of franchising as it increasingly expands throughout the world, giving back by affording people more opportunities and options in determining the path to small business ownership that suits them best.

The Path to Business Ownership (A Resource)

Are you thinking of business ownership for yourself and learning how the choice of a franchise, startup or acquisition can “jump-start” the process and your earning potential? 

Well, Acceler8Success Group can help. Working with in-house small business professionals you will work one-on-one in determining if you’re right for buying a franchise, starting a new business, or acquiring an established business, and whether business ownership is right for you.  

Learn more at OwnABizness.com.

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

American self-help author, Napoleon Hill has shared a world of wisdom and perspective on achieving success. It’s no wonder his book, Think and Grow Rich is among the 10 best-selling self-help books of all time. For me, one quote from Hill speaks volumes, and especially for today’s entrepreneur…

“Whatever the mind of man can conceive and believe, it can achieve.”

We’ve all heard stories about great entrepreneurs, Steve Jobs, Henry Ford, and of course, Walt Disney. All three, along with other creative like-minded individuals each had a vision that many thought was crazy and as such, unachievable. Key parts of their vision hadn’t even been thought of before. To that point, each had much more than a vision in mind.

Steve Jobs envisioned a future with computers on every worker’s desk, a progressive culture where technology creates more opportunities for employees and a workplace without secretaries. Key components of his vision included very precise criteria for both internal parts and exterior looks. Even detail for font size and type were important elements to his vision.

Specifically with a goal of helping farm families to become less isolated, Henry Ford’s vision was to build and market a simple, strong, reliable, affordable transportation for the masses. Key to Ford’s vision was the manufacturing process to be able to turn his idea to reality. His assembly line technique of mass production enabled Ford to convert his basic automobile design from an expensive luxury into an accessible conveyance that profoundly impacted the landscape of the 20th century — one that middle-class Americans could afford.

Walt Disney’s vision was much broader than that of Jobs and Ford as it evolved over time from his early interest in drawing to development of the Mickey Mouse character to becoming more adventurous, introducing synchronized sound, full-color three-strip Technicolor, feature-length cartoons and technical developments in cameras. All were key components of his ultimate vision, to create a place in which both parents and their children — together — could have fun.

Today, it’s hard to imagine life and business without the likes of Steve Jobs, Henry Ford, and Walt Disney. I believe it is especially the case when one considers the multitude of developed processes and components that are entwined in the organizations of these entrepreneurs that might not have been created if not for their follow through on turning their ideas to reality.

Ideas and inventions aside, it was the passion for detail, perfection, and excellence that drove the success of each of these famous entrepreneurs. Attention to detail for each of the organizations they founded is still prevalent to this day. Perfection and excellence at Apple, Ford and Disney are evident in both product and experience. This brings a couple of questions to mind…

Why isn’t ‘attention to detail’ considered to be a necessary trait for entrepreneurs? How much does ‘command for perfection’ and ‘commitment to excellence’ contribute to the success of entrepreneurs and their endeavors?

With respect to the quote above — “Whatever the mind of man can conceive and believe, it can achieve” — is entrepreneurial success possible without attention to detail, command for perfection, and commitment to excellence as foundational components of the plan to turn an idea into reality?

And one last question… To what extent must entrepreneurs include these foundational components as rock-solid cornerstones of their ideas and plans to ensure a sustainable business for the long haul?

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

Sundays at Acceler8Success Cafe are now focused on providing motivation and inspiration for the week ahead. My goal is to provide a positive foundation for the week that will complement the weekday activities at Acceler8Success Cafe. My intent is to do so as an extension of my commitment to helping current and aspiring entrepreneurs achieve and accelerate their success.

Motivation & Inspiration

Entrepreneurship is a lot like solving a Rubik’s Cube. You can work at it for long periods of time and get very excited as more things line up and success looks to be in reach. Or, you can end up solving the puzzle, sometimes by accident, but still after significant effort. Or, you can just give up and quit, frustrated and never knowing how close you may have been to achieving success. The bottom line is that you only fail, if you quit!

“I have definitely come to understand the fine line between success and failure in trying to nail down the American Dream. I know it is sometimes counterproductive to even mention failure which is why the subject is always avoided and never discussed. Yet, it’s out there and it’s real.” – From the article, ‘Fear and Consequences of Failure: A True Story Retold’ by Paul Segreto, Founder of Acceler8Success Group.

In light of the ups and downs of the past two years or so, have you lost sight of goals for your business? Possibly, you may believe goals don’t seem as important as just surviving? If so, isn’t that akin to playing not to lose instead of playing to win? Think about it. Are you playing to win? Or, are you constantly defending your position, deflecting one challenge after another, but never using a proactive approach to make things happen? If only being reactive, you’re essentially playing not to lose. Control your chances to succeed. Be proactive. Play to win!

Your success is never guaranteed. Sure, it’s easy to start a business – you can create a veritable avalanche of new entities with a few clicks of your mouse and then run them right from your couch or recliner. That makes you a business owner, not an entrepreneur. If you take those ideas and grow them into an enterprise that successfully solves a specific issue for your clients, then you might just be on the way to being an entrepreneur.

Creativity is about connecting experiences… “And the reason they were able to do that was they’ve had more experiences or they have thought more about their experiences than other people.” – Steve Jobs

At Acceler8Success Group we believe making the right connections is paramount to success. Our tag line – Connecting the Right Brands, People & Opportunities! – is more than just words. It is the foundation of our comprehensive service offerings. All delivered to ensure right-fit connections and interdependent relationships for optimum, mutually beneficial results.

Learn more at Acceler8Success.com.

Have a great week ahead. Make it happen. Make it count!