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5 rules for building a franchising empire PDF Print E-mail
Written by Nick Friedman   
Monday, 18 June 2012 12:20

 

If you’re considering franchising your business, there are a few guidelines you’ll want to consider throughout the process (five, to be exact). While every business is unique, these rules tend to apply to any business entering the franchising game, regardless of what you actually sell.

 

Rule #1: Know what you don’t know.

 

Remember that becoming a franchisor is like launching a new business altogether. You may be an expert at making sandwiches, cutting hair or painting houses, but franchising is a completely different industry with its own set of best practices and challenges. When we launched our first franchise, we knew the junk hauling and moving businesses well, but we were not prepared for the franchising industry.

Last Updated on Monday, 18 June 2012 12:27
 
‘You win from within’ PDF Print E-mail
Written by Marvin Montgomery   
Monday, 18 June 2012 08:42

If you have been watching any of the NBA playoffs, you may have noticed the Gatorade slogan “You win from within.” That is so true. It speaks to the internal mindset that we have.

 

It also applies to sales. Sometimes, if you’re not careful, you can go into a sales situation self-defeated before it even begins. Or, to use another saying in sports, “We play not to lose instead of to win.”

 

Before you go on your next sales call, take a mental inventory. What is your mindset prior to each sales opportunity?  Are you expecting to win?

 
Building a learning community PDF Print E-mail
Written by Donna Rae Smith   
Tuesday, 12 June 2012 08:24

I came across this article last week, about a new initiative to identify and develop emerging leaders at Cleveland-based Philips Healthcare.

 

There are a few things I like about this story:

 

1. The initiative capitalizes on the company’s greatest resource: Philips’ own staff. For a company with nearly 1,500 employees, these events provide a great opportunity for staff to interact with one another — a chance for networking, information sharing and “cross-pollination” that they wouldn’t otherwise have.

 
Discovery process: 6 questions to identify a legitimate sales opportunity PDF Print E-mail
Written by Marvin Montgomery   
Monday, 11 June 2012 08:23

The heart of any sale is the discovery process. Your main objective is to find out if there is a need for the product or services that you provide.

 

Before you end the initial appointment, there are several specific areas that must be explored with open-ended questions:

 
Are you listening to what your customers are saying? PDF Print E-mail
Written by Donna Rae Smith   
Tuesday, 05 June 2012 08:30

When your customers talk, do you listen?

 

A friend of mine tells a story about a company she used to work for. The company created a sought-after technology. Business exploded. But in time, other companies developed similar versions of the same product. Customers began making suggestions for how the product could be improved to match competitors’, but the company didn’t listen. The team that developed the technology was so enamored of its product that they dismissed any suggestions for improvement. In the process, they lost a million-dollar order. When they were finally ready to listen, it was nearly too late.

 

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