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How Joint Ventures Can Catapult You to Success
Substantial opportunities for increased sales and profits are missed by not seeking out and implementing joint ventures.
Strategic alliances also create value for the customer and save money and build future relationships for the partners. ...
Perserverance For Home Business Success
What is required to be successful in your home business? Before we can answer, you must understand what "success" means and what common characteristics successful people have. If you are reading this article, you probably want to be successful and...
Success From Failure Is As Simple As Focus, Plan, Execute
You excitedly signed up for that pre-made money generating website you saw in a popbehind window. You signed up for the affiliate IDs. You set up your autoresponder and signed up for several “traffic generators”. You read the writings of all the...
Use Auction Templates For eBay Success!
Auction templates are simply a must for successful online auction selling. One day I spent approximately 45 minutes writing a listing for an item that would make me about $5 in profit! I suddenly realized the stupidity of what I was doing. Here I...
What Bowling and Success Have In Common
was flying home from a seminar in Atlanta yesterday afternoon on Delta and they have TVs on each seat. It was 1pm and I was a bit tired, so I was channel surfing and wouldn't have minded if I just fell asleep for the trip. But as I was surfing, I...
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Franchises - Success and You
Many people believe owning a franchise will make them rich, financially secure, and provide the life of their dreams. True, franchises have an extremely high success rate, and a very high satisfaction rate among their owners. But is that success guaranteed when you purchase a franchise? NO!
There are no guarantees in life, or in franchises. There are those occasions when franchises are not profitable, lose money, and close. Although most franchises provide a proven business system, not all OWNERS are proven.
Many enter into the franchise system, thinking all they have to do is come up with the money to get the business open, and it will run itself and they will make money. I don't how many times I have had a prospective franchisee say to me, "I want a franchise that makes a lot of money". Well, I have news for you, it's hard work.
You have to WORK the system provided by the franchise. Many franchisees have impressive backgrounds and education, many from established positions with top companies. However, some have a difficult time doing "whatever it takes", to run the business. Whether it be marketing or sales, to taking out the trash and cleaning the restrooms, nothing should be beneath you to keep your business operating and profitable.
If you want be a franchisee, accept the fact that you will have a "franchisor" guiding and directing you. They have at much at stake as you, and their reputation is on the line. Remember your success is their
success, so they will provide feedback, support, and direction with your business. However, some new franchisees, coming from corporate positions, may feel they don't need any direction and know best on how to run the business. This can be disastrous. The better franchises have spent years developing their systems, FOLLOW THEM!.
Learn every job and every position of your business. Be able to step in and help when needed. Be ready when employees quit, don't show, or simply think you can't manage without them. I can tell you from personal experience, all these things happen. The last thing you want is one of your employees having an upper hand with YOUR BUSINESS, because you can't do their job.
Be able to accept the fact that you don't "know it all", regardless of your past experiences and expertise. Listen to your franchisor and other franchisees. It is your business, but they have been doing it longer. Utilize their knowledge and expertise. The wrong attitude coupled with a few bad decisions may jeopardize your investment and your dream.
Remember, the one major variable in a franchises success is you. A franchise can be a very rewarding and profitable business when operated the right way, by the RIGHT PERSON!
(Copyright 2005-ehbvi-www.businessventureinc.com)
About the Author
Ernie Horning is a Franchise Consultant and owns multiple businesses. He is also a former franchise owner, and writes articles for http://www.businessventureinc.com
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