Choosing A Franchise

Choosing a successful franchise

It’s exciting times ahead. You have decided to go into business for yourself, and not by yourself. You believe that investing in your own franchise is the best option for you and it’s more than likely been a long and hard decision, eliminating a few industries or franchise types along the way that you know just aren’t a good fit.

Now you have short listed some industry sectors down to those that interest you, a good place to start looking for available franchises is your major city newspaper, or industry specific franchise magazines and websites. Here you will be able to either call the company or email them if online and request an information pack. Some information packs provide in depth information whilst others provide a general overview of the franchise opportunity which can then be further explored, should the potential franchisee be interested in taking his or her enquiry to the next level.

What do you do now? Which one is going to be the right one for you? Is there a market for the franchise you are looking at? Can you afford it, and can you make enough money to make it worthwhile?

Buying a franchise does not guarantee your success so it’s vital you do as much as you can to research what could lie ahead. The more due diligence you do, the better chance you have to finding the “right” franchise model for you and the better chance you have for success.

Investigating Your Options

Regardless of whether you choose to buy a new franchise or buy an existing franchise, research is the single most important activity in making your decision. Without adequate information, you could be making a very costly decision, effecting the rest of your life. Below is an outline of the advantages and disadvantages of buying a new franchise or buying an existing franchise which might assist you in your search and decision. Either way buying a franchise has some definite advantages and disadvantages and these should be evaluated before deciding to purchase one.

Buying A New Franchise

Untitled

Buying An Existing Franchise

o

Overall Advantages of Buying a Franchise

Consumers today are becoming more brand loyal which means your chances of being success in business could simply rest on the fact you belong to a strong brand in the marketplace

Owning a franchise allows you to go into business for yourself, but not by yourself.

A franchise provides franchisees with a certain level of independence where they can operate their business.

A franchise provides an established product or service which already enjoys widespread brand name recognition. This gives the franchisee the benefits of customer awareness which would normally take years to establish.

A franchise increases your chances of business success because you are associating with proven products and methods.

Franchises may offer consumers the attraction of a certain level of quality and consistency because it is mandated by the franchise agreement

Franchises offer important pre-opening support:

  • site selection
  • design and construction
  • financing (in some cases)
  • training
  • grand-opening program

Franchises offer ongoing support

  • training
  • national and regional advertising
  • operating procedures and operational assistance
  • ongoing supervision and management support
  • increased spending power and access to bulk purchasing (in some cases)

There are of course some disadvantages to buying a franchise and the most important one to look out for is if other franchisees are performing poorly or the franchisor runs into unforeseen problems then it can damage the overall system and image of the company.

Let’s have a closer look at some of the important areas you should consider when choosing a franchise.

Your Passion!  Where Do Your Interests Lie?

With over 900 franchise systems within Australia alone, it is important that you gather as much information as you can about the types of franchising opportunities that are available and what they have to offer you and to the market or end user (the customer). Have a clear idea of where your interests lie and what areas you are passionate about, as this will help you eliminate some franchises in industries that just don’t interest you. You should start a business in an industry that you will enjoy for the next 10 to 15 years.

Making the correct choice of industry is the foundation for success.

Ask yourself:

  •  What do you like to do? (interest and hobbies)
  •  What do you know how to do? (experience)
  •  What do you do well? (special skills and talents)
  •  Which industry(s) involve your interests and use your skills and talents?
  •  What products or services could you sell in this industry(s)?
  •  Would you rather sell a product or service?
  •  What products or services would you like to sell the most?

Determine If There Is a Market

Before purchasing your franchise, determine if there is a market for the franchises product or service.

  • How many potential customers are in your area?
  • Will your product or service sell?
  • What need does it satisfy?
  • What problem does it solve?
  • What trend or fad does it address?
  • What should the appropriate pricing be?
  • Who are your competitors?
  • How many competitors do you have?
  • What do they offer?
  • How will your product or service be unique?
  • What marketing niche can you capture?

A Fully Informed Decision Is a Good Decision

Like starting any business, buying a franchise involves a risk. Studies show that successful franchisees:

  • conduct their own marketing research
  • use their own financial and legal advisors
  • develop thorough marketing and business plans
  • have prior work experience

As a prospective franchisees the more time you devote to researching the franchises available and evaluating the strength of the franchisors, the happier you will be in your decision.In order for you to make any decision about entering into a relationship with a franchisor and becoming one of their franchisees in the network, it’s important you are in a position where you can make a fully informed decision about whether it’s right for you, or not.  Reading an information pack just isn’t enough. Think about areas such as the company’s vision, philosophy and values. Are they in alignment with your values, and are you comfortable with what their products and services offer the marketplace?

It amazes me that many people make a spur of the moment decision about their future and their next 10 or so years. A franchisor does not need a license to become a franchisor, so how do you know if your investment is safe?

A great place to start is to investigate the franchisor’s history:

  • How long has the franchisor been in business?
  • How many current franchisees are there in the network?
  • What is the failure rate of the franchisees?
  • Are there any pending or past lawsuits and what have they been for?
  • Does the franchisor have a reputation for quality products or services?
  • What is the franchisor’s financial health?
  • What are the earnings claims and profit projections? On what are they based? Are the projections based on franchisor or franchisee-operated units?
  • How long have the franchisee operated units been used for projections been in business?
  • What is the background of the principals/management? What is their business experience? Have they personally had any bankruptcies? Have they personally had any recent litigation?

Transparency

Transparency is another important ingredient to the decision making – due diligence process. The more open the franchisor is, the more you can find out whether it’s the right fit for you.

  • Is the franchisor open when communicating the business model to you?
  • Do they offer you the opportunity to speak with other franchisees?
  • Are you able to meet the franchise support team?
  • Do you have the ability to review the operations manual and possibly sit in on a training class?
  • Have you the opportunity to work in an existing franchise for a couple of weeks and really get to know the
    • System
    • Manuals
    • Training program
    • Support
    • Earnings potential

Speaking with current and past franchisees is important as it allows you to get a general idea of their experience in the business and what it’s like working within the franchise network. Hearing a franchisees’ prospective (make sure you speak to a few and not just one), is a fundamental part of your due diligence and you get an idea of what to expect and what the culture is like and what the franchisor is like from a Franchisees’ prospective.

Speaking with franchisees that have left the system and finding out why they left gives you more insight into the franchise. Be sure you contact more than one so you can average out the responses. Not everyone’s going to be right for the franchise and a few will leave the system either because they were asked to or because they failed to do their proper due diligence initially and realised it just wasn’t for them. So ensure you speak to more than one past franchisee.

When speaking with or visiting existing franchisees, try to cover areas like:

  • The level of training
  • The quality of products or service
  • The level and promptness of support
  • The operations and quality of the operations manuals
  • The earnings potential/claims
  • Any problems or difficulties with the franchisor
  • Franchisor-franchisee relationship
  • Level of franchisee commitment

Franchisor-Franchisee relationship

How does the franchisor treat the franchisees in the network? This is an important area to ask questions about. Ask current and past franchisees as well as the franchisor. The ideal situation is if the franchisor treats it’s franchisees with the respect, as fellow business people who are in business to achieve profitability and mutual success. You will find yourself in a much safer and more successful environment and network if this is the case. Franchisees who are who are respected as fellow business partners are more likely to respond to the franchisor like switched on business people motivated and ready to seize opportunities and deliver products and services to their local area as best as they can. They are proud to get out into the local market representing the brand they belong to.

Commitment

Is the franchisee committed to the franchise? A franchise offers strength in the market place in the brand as well as in the numbers of the network. How committed is the franchisor to ongoing support and training? You can find this out just by asking a few current franchisees. Is the support and training broad which means it not only offers business operation training and support they provide much broader support and training which covers all key areas of business along with offering management resources, support and advice.

Franchise Agreement and Disclosure Document

Carefully study and obtain professional advice concerning the franchisor’s Disclosure Document and Franchise Agreement paying special attention to:

  •  Costs including franchise fee and fit out fee
  •  Term (duration of) agreement and renewal provisions and conditions
  •  Termination clauses
  •  Franchise territory
  •  Procedures and restrictions
  •  Training and assistance
  •  Earnings potential – gross sales, net profit
  •  Expansion plans
  •  How fast do they plan to grow?
  •  Where do they plan to grow?
  •  Do they have a business plan for your area of location?
  •  What is their analysis of the competition in your area?
  •  How many units are being planned for your area? Why that many?
  •  How much is going to be spent in regional advertising in your area?

Let’s expand on a couple of these key points.

Franchise Fees

One of the most common questions is how much does it cost, and what are the other fees I have to pay? Every Franchise system is different. You will more than likely find a general overview of the fee in the information pack and you can find out the full list of fees payable, both upfront and ongoing, in the Disclosure Document. The fee will vary depending on the maturity of the business and the complexity of the system.

Upfront Fees: Before you start your new franchise, there will be an upfront fee payable to the franchisor. This is the fee to enter the system and gain the right to use the intellectual property including the system and brand name. Most will also require a training fee to be paid which will cover the initial training provided to you so you have the knowledge and the skills to operate your business from day one. Some franchisors will also ask for an upfront marketing or initial promotion fee which is used to promote your franchise in the local area during the initial launch period.

Royalties / Ongoing Fees:

Royalty is the most common word used for the ongoing fees that are payable to the franchisor. This fee usually covers business, management, technical and marketing support. These fees vary from franchisor to franchisor. Some base their fees on turnover whilst others set a fixed amount. Some franchisors do not charge an ongoing support fee at all; instead they earn their income from the sale of their products to franchisees, which the franchisee then sells to their customers. Usually these products are exclusive to the franchise system and can only be purchased direct from the franchisor.

Marketing Fees:

Marketing fees are collected by the franchisor to go into a marketing fund or marketing pool. This allows the franchisor to market the brand for the benefit of all. This generally is a fixed fee or a percentage of turnover. Not all franchisors require you to pay into a marketing fund. Please check the franchisors Disclosure document for this. Be aware that you will still be required to pay for your own Local Area Marketing for your franchise.

Fit Out Costs:

The fit out fee is commonly included in the total investment set by the franchisor. This is known as a “turnkey” solution where by the franchisee can sign the agreement, attend the training and then commence in their premises with everything ready at their fingertips to operate the business. Where the fit out costs are not included as a total investment the franchisor will give the franchisee an estimate to fit out the site. Every site will be different so these costs will vary from site to site. Fit out is done in the most cost effective manner and in alignment to the design and layout standards.

Training:

The initial training provided to new franchisees is a vital ingredient to the success of the franchisee. For many new franchisees, this is the first time they have been in business for themselves so it’s important to ask what’s included in the initial training. From my experience training that includes the operations of the business, use of the system as well as other management and marketing processes sets a more solid foundation for success. Assisting franchisees in areas such as marketing, bookkeeping, staff recruitment and training, quarterly planning and so on will increase the chances of overall confidence in the business which will ultimately lead to a higher chance of success.  The more proactive franchisors provide the services of a franchise coach to assist the franchisee in all key areas of business.

Support:

Ongoing fees are charged in return for a certain level of support provided to the franchisee. It is always a good idea to ask what level of support is provided and what is included in this support. Does the support cover all key areas of business or just the franchise system?

Obtaining independent legal, accounting and business advice before signing any binding documents is absolutely essential!

In Summary:

Before buying any business, you must carefully consider many factors that are critical to your success:

  • costs
  • training and support
  • your abilities
  • franchisor’s experience
  • demand and competition
  • expansion plans

Brand Name:

How well known is the franchise name?

Does it have a reputation for quality?

Have any consumers filed complaints against the franchise? If so why?

Costs:

How much money will this franchise cost before it becomes profitable?

Can I afford to buy this franchise?

Can I make enough money to make the investment worth my time and energy?

Training and Support:

What kind and how much training and support does the franchisor provide?

Do existing franchisees find this level of training and support adequate?

Your Abilities:

Do you have the technical skills or experience to manage the franchise?

Do you have the business skills to manage the franchise?

Is the franchise of interest to you?

Franchisor’s Experience:

Has the franchisor been in business long enough to have established the type of business strength you are seeking?

Demand:

Is there enough demand in your area for the franchisor’s products or services?

Is the demand year-long or seasonal?

Will the demand grow in the future?

Does the product or service generate repeat business?

Competition:

How much competition do you have, including other franchisees?

Are the competing companies/franchises well established?

Do they offer the same products and services at the same or lower prices?

Is there a specialty or niche you can capture?

Expansion Plans:

Is the franchisor planning to grow at a rate that is sustainable? Part of your due diligence when considering which franchise network to invest into should include looking at the individual success of the franchisees. Have a look at what individual franchisees are achieving. Has the franchise met all their expectations and if not where has it fallen short.  Do you have the ability to own multiple sites within the franchise network?

Obtaining independent legal, accounting and business advice before signing any binding documents is absolutely essential!

If you are making the decision to get into franchising, your success will be determined by the level of due diligence to do, the level of understanding you have gained of the franchise business and the level of commitment you are willing to give to your success. Your future success and prosperity will also largely depend on how well the relationship between the franchisor and franchisee is managed.

Navigating the Rapids of Business

Navigating the rapids of business

Have you ever been white water rafting? in 1994, my late husband and i decided to be adventurous and give white water rafting a go.

We were on a short holiday. After all, we couldn’t take too much time off as we were  in business for ourselves and there were only  so many days we believed we could be away from the business before things would surely go wrong. This was our little getaway so whilst in the midst of relaxation and “away time” we decided to experience the thrill and excitement of white water rafting.

Now as beginners, our job was to sit in the raft, hold on tight, use the oars when we were instructed to, scream a little, feel terrified and experience a sense of thrill at the same time. Whilst we navigated our way around the rocks, through the rapids, we had one ultimate objective: stay in the raft until we made it to the calmer waters below.

At one point our raft did tip and after those few panicking moments we all eventually managed to get back into the raft, coughing and splattering as we climbed back in. It was terrifying, yet we found ourselves laughing with adrenalin rushing throughout our bodies as we got back in the raft secretly wanting to do it all over again.

As a team we had to work together, aligning our actions and our focus directing the raft and maneuvering it through to the calmer waters below. Every action required quick thinking, clear strategy and zero procrastination. Yes, at times we were uncertain, not knowing what would come next and whether the next move would take us further out of our comfort zone.

At other times we were on top of the world and Masters of white water rafting. Once in calm waters, we wanted to do it again and take our experience to the next level. “Okay, who’s ready for the next level?” the instructor would ask. There was no turning back once we had made the decision to go for it and give the next level a go. We were fearful of what the unknown adventure would be like, but moving to the next level requires a certain type of attitude – ‘Feel the Fear and Do It Anyway!’

Operating a business is a bit like white water rafting. At times it’s scary, hectic, and sometimes unbelievably out of control.

It takes you out of your comfort zone and pushes you into very unknown waters. At other times, it’s exciting, challenging and ultimately rewarding.

The key to navigating your way through business successfully is the same as navigating your raft through the rapids.

Once you know how and what to do, it’s important to be sure you implement that knowledge so that you arrive at calmer waters with confidence and without too many knocks, bumps, cuts and bruises. It’s about making the right moves at the right time and in the right order, so that when you are ready to move to the next level you can do so with confidence.

One of the keys to success in business is how you handle each stage of the journey. In our case, with white water rafting, each stage represented the starting point, the rocky road of the rapids, the free falling down the dips, and the calm waters below. Success was achieved as a result of many things aligning together, the quick maneuvering, the quick decisions and action-taking before arriving at your destination. The destination is not the end of course; it is just the beginning, as you take your experience to new and higher levels. Business is the same. Once you reach a certain goal, milestone, or outcome, it’s not the end; it’s just the beginning of something bigger, better and more exciting.

Doing the right things in the right order is crucial to success. Being sure you take consistent action every day and with a big focus on income generating activities and not just any activity is a key component to building the business of your dreams.

I believe one of the key elements to achieving success is having an open mind and being committed to doing whatever it takes to learn new skills and knowledge, and following through by implementing that new found knowledge and skill set.

What is your motivation? What is your motive for action?

Growth starts to happen when you extend yourself beyond your comfort zone and beyond the edge. You must lean just over the edge every day to achieve exactly what it is you want. Extend yourself. Have the courage to push yourself beyond your own fears, embracing them so that you can make your life and your business phenomenal.

Make a commitment to develop yourself and learn whatever is necessary to be the best. Strengthen every weakness until they become your greatest strength.

Stop Blaming and complaining and Just Get on With it!

Have you ever been in a position where it was easier to blame outside circumstances or someone else for your shortfalls? It is unfortunate that for most of us it is quite a natural habit to blame outside circumstances and events for our lack of results. Because of our past programming and conditioning, many are living a very average way of life because they have chosen to accept that this is just the way life is. If you are someone who is convinced that your circumstances are because of the actions of others or outside circumstances, may I encourage you to open your mind and be prepared to make a decision today to change that level of thinking or to change your current circumstances.

Think about it. How would your life or business change if you knew you were the only one responsible for your success? Not your franchisor, not anyone else, just you.

There would be a lot more doing and a lot less complaining and blaming, wouldn’t there? There would also be a lot more people living the life they truly deserve.

Learn to replace complaining with being proactive and taking action. If you find yourself in a situation that you don’t like, either make it work or simply leave. The worst thing you can do is stay and then complain later about it. Stop missing the pieces of the puzzle! They’re right in front of you.

You are the only one responsible for your success! If you don’t have all of the pieces yet to build whatever it is you want, then it’s your responsibility to acquire them. The world doesn’t owe you anything. You have to create what you want.

Knowing you are responsible for your success and doing what it takes to be a success are two different things. In the past I always knew what I had to be doing to achieve higher levels of success, though

I found myself not always doing those things consistently enough to produce the consistent results I wanted. My results would either be fantastic or just plain average. I started to see a clear pattern forming and it was a pattern I didn’t like. I set out on a path to really make a change in what I was thinking and doing so that my business and my life could progress forward and produce the consistent results I wanted every day. This was the time I truly took ownership of building a new foundation, taking a new direction and committing to taking consistent action towards the success I desired.

What can you do right now to take true ownership of the direction and success of your business? Taking your business to the next level need not be complicated nor does it require excessively long hours or extremely hard work. What it does take is a commitment to your success, a commitment to taking consistent daily action, and doing the right things in the right order.

Growing and Developing your Franchise

Growing a business can be challenging at times and also extremely rewarding, but what can you do as a business owner to help create momentum week by week, month by month and build the business of your dreams?

Whether you are just starting out or you have been going at it for a while, my intent for our time together in this post is to share with you some simple business growth tips that when implemented into your business will help you start to produce some solid results.

Grab a tea or coffee, a notepad and pen and read on. It’s no use reading this article and not doing anything about it, so as you read through the points outlined, I encourage you to think about how it relates to your business and what you can do to get going, moving and taking action so that you can in fact grow and develop your franchise into a top  performing business.

Success starts with planting the Seed and doing the right things in the right order

I would like to share a little story with you. Imagine your business as a freshly planted seed of a tomato plant. You have taken care to plant this seed in fresh, nutrient dense soil, in a place where it gets the right amount of sun and shade.

You’ve got down on your hands and knees and with your finger have poked a hole in the fresh soil where you gently placed the seed. You then covered the seed with more fresh soil and gave it the right amount of water to allow it to grow.

Why did you plant the Seed?

This is the same for your business. Why did you get into your business in the first place? What’s your ultimate vision?

Without knowing your why, it’s almost impossible to produce the consistent and long term results you first set out to achieve. It will also make it near impossible to stay inspired and motivated day in and day out if you don’t know what you are doing and why you are doing it.

Let’s continue with the story….

As you get up from planting the seed you vividly imagine all the delicious tasting tomatoes this plant is going to produce for you and your family as it grows over the following months.  As each day follows you check on your seed to see if it has peeked out of the ground. You can barely contain your excitement because you know how gratifying it will be to successfully grow something of your own.

You check the soil to see if it’s moist enough, you give it water when it gets too dry. A week goes by and still nothing peeks out of the ground.  You ask yourself, “Did I give it too much water? Did I give it enough? Did I plant it in the right place? Maybe it’s just the weather?” You go into the house and look on the internet to see how long it takes for a tomato seed to sprout once it’s planted. You find that it takes about two to three weeks for a leaf to show. You now feel a sense of relief knowing that you are probably on track.

You continue reading and you discover that the average plant will not produce fruit for about two full months. You remember reading about this earlier and now you are very content to have fruit in two months.

You can almost taste and feel exactly what it’s going to be like biting into that perfectly ripened tomato and then you read one last fact that no one ever told you before. The tomato expert writes,

“Some plants won’t produce fruit the very first year depending on the seed. Sometimes you have to care for the seed until it grows then wait till the plant germinates and drops another seed in the ground that will grow the following year.”  You stop and think, “I wish I knew this before I started this whole thing”. You make a mental note to plan better next time before embarking on a farming adventure. As you absorb this information, you feel less excited than you did just one week ago. You hope that all your work will produce fruit this year.

As another week goes by you check on your seed only to find that it’s not a seed anymore, it’s now a tiny little plant with one leaf peeking out of the soil. You feel your excitement return because even if this plant does not produce fruit this year at least you have the satisfaction of knowing you made something real.

You planted a seed and it’s now growing every day.

With your new found excitement that comes from noticing your successes, you begin to ask yourself, “Is there anything that I can do to make this tomato plant grow faster?” Is there anything you can do that will tilt the scale in your favour that would get you fruit this year?

So, you make a wise decision and decide to seek advice from an expert. After a short consultation from the best tomato grower in the business, someone who knows how to get these tomato plants to grow and produce more fruit, you go back home to your tomato plant and follow the instructions to the letter. You tirelessly do everything that’s required and your plant now grows and grows and grows. Two more weeks pass and you are getting so close to when most tomato plants will produce fruit. Will your plant produce fruit this year? You can barely wait, you feel confident because you have done everything right.

The next morning you wake up and to your surprise you notice several tiny tomatoes on your plant. You feel great; you feel immense satisfaction that you will get ripe fruit this season and your efforts will be rewarded.

It’s time to celebrate and like any good tomato grower you also know it’s now time to make even better decisions regarding your plant. Feeling confident and ready you now take all the appropriate action to ensure that you will be biting into a perfectly ripe and fresh tomato in just a few more weeks.

Building and growing your business is just like growing the tomato plant.

It’s important to do the right things in the right order to build higher levels of success. The expert in the story is, in fact, your franchisor and possibly even a business growth consultant like myself.

Support, knowledge and expertise are available to you so ensure you tap into that regularly.

If you just so happen to have a franchisor who isn’t as accessible as you had hoped, then find the support elsewhere. There are so many resources out there to help you grow your business.

It’s up to you to go and make it happen.

The seed has been planted.  How will you nurture and care for it to ensure you produce fruit year in and year out?

Setting goals. creating a new blueprint for Success

As part of a franchise group, you should have a blueprint or plan for business growth to follow, but it shouldn’t stop there. What can you do to take ownership and work that plan? The sentence should now read.  It’s a new year so it’s time to review your goals and plans as you progress forward in your business. Perhaps you are not as close to where you wanted to be, or perhaps you have reached the next stage of success.

Whatever your position is right at this moment, NOW is the time to REVIEW

YOUR PLAN and DESIRED OUTCOMES for the year.

Here’s a quick review of how to successfully set and achieve your goals.

Set goals the Smart way and take consistent action to achieve them

I am sure you have heard this before either from a past article, from my newsletters or even another resource. Your goals should be SMARTA goals. Specific, Measurable, Achievable, Realistic, Time Bound or Time Framed and Action.

Here’s the flaw in this.

It’s no use setting goals if you are not going to take the action on a daily basis that will move you closer to achieving them.

How many times have you set a goal only to review them in six or 12 months time and have become overwhelmed or disappointed at how many you just didn’t achieve?  It happens often for many business owners and here’s the reason why:

You have to take the necessary action to achieve your goals. Setting them just isn’t going to do it for you.

With this in mind, start to review your current plan, think about what you want to achieve this year and put a plan of action in place to ensure every day is moving you closer to achieving your desired outcomes and not further away.

You Must Be Committed To Your Success

Make a total commitment to your success.

Once you have made the decision to be in business, be in that business. Get into it with both feet and don’t let anything hold you back. I have found there are two types of people: those who are interested in success and those who are committed.

Those who are simply interested, do what is convenient to them. Those who are truly committed will do whatever it takes to achieve their desired outcomes and the next level of success.  What are you doing every day to ensure the best outcomes for you, your customer, the franchisor, and the franchise network?  Make a commitment right now to start doing whatever it takes to make your business a success.

Start with writing a list of all the things you could do better in your business, or what you could do to go a little bit further for your customer, your staff, with your suppliers, and in other areas of your business. It only takes one or two things that could make a massive difference to your bottom line.

Communication Is The Key To Building A Successful Franchise

Now, of course communication is not the only key to success.  There are many other areas that are equally important but, here’s the thing:  if you cannot communicate effectively with your staff, your franchisor, or with your customers – you will have to work 10 times harder to make things happen.

In a franchise it is vital you maintain communications with your franchisor.

Keeping the communication lines open has major benefits. You also have to know how to communicate and when to initiate communication. As the franchise network grows your franchisor may not be as accessible as they used to be. It is important though to chat to them about it and find out what other methods of communication and support are available. Don’t wait until your business is almost nonexistent and blame the franchisor for not being there.

You as the franchisee should be 100 per cent responsible for your success.

Effective communication can be the difference between someone achieving average revenues and someone doubling and tripling revenues every year. With this in mind it is vital you also communicate effectively with:

  •      your    prospects
  •      your    clients/customers

Without prospects there are no customers. Without customers there is no business

Before your communication begins, you’ve got to know who you will be communicating to and what you will communicate. In other words, what’s your message?  What and how will you say it?

These fundamental elements should be part of your sales and business growth process, a process that every successful business relies so heavily on. As part of your sales process you should put together an ideal client profile and review it regularly to ensure you are maximizing your potential, year in, year out.

Take time now to consider who your ideal client is. Your ideal client profile should include elements such as:

  • how    they     think
  • why    they     buy  (wants versus needs)
  • what   they     want   – ‘hot    buttons’ (remember:  people don’t   buy      what    they need, they buy what they want)
  • who    to         target  –  (decision makers and influencers)

Once you know who your ideal client is and why they buy your type of products and/or services you have to find a way to effectively communicate your message, focusing on the benefits of your product or service and matching the reasons why they buy.

Taking a close look at your ideal client’s decision-making process reveals who you REALLY need to be communicating your message to.

Communication is more important than ever and not just in your initial lead generation or once you have secured a customer. With only four per cent of leads ready to buy right now and therefore 96 per cent not ready, if you don’t have a process in place to nurture your leads you could be wasting your time and your money in your upfront marketing efforts.

Every time you communicate to your prospect it’s vital you stand out of the crowd, grab their attention, create a strong interest and desire for your product and service and, of course, lead them over the finish line. With this in mind, all of your marketing/ communication efforts must follow a strict formula.

You must grab the prospect’s attention, build a strong interest and desire in what you are offering, including the benefits, all which must then be supported with a strong call to action.

Gone are the days where it’s enough to say “we are the best and this is why…..”

It’s all about the prospect now. It has to be about the benefits you will provide to them and what value you will add to them. They are tuning into “What’s in it for me?” and unless you can match your solutions, services and products to what your prospects want, you will have a very hard time growing the business of your dreams.

Maximising your potential in business is not that hard. It just requires commitment, clear communication, daily action and doing the right things in the right order.

Your Beliefs & Thoughts Affect The Results in Your Business and Life

Your Beliefs & Thoughts Affect The Results in Your Business and Life.

They say if you believe you can, you can, and if you believe you can’t then you’re probably also right.

I am sure most of you have heard this before. However, what are you doing to improve and change your beliefs and thoughts in order to bring about different results in your business and your life?

Everything you do in life will create a result. Even if you do nothing you will still get a result. Our beliefs which have been formed over short and long periods of time determine the actions we are taking in our business on a daily basis. These actions be that positive or negative is what is ultimately determining the results we have in our business today.

How happy are you with the results your business is currently producing?

Most of us associate positive thinking and changing daily habits with our personal life and forget to transfer those positive habits, thoughts and daily actions into our business. For some it just seems too hard. These are all excuses. If this sounds like you (someone making a lot of excuses) it’s these excuses that have produced the results that are your current reality.  It’s vital you don’t let your past results dictate your current thoughts though. If you do, your results will repeat themselves.

If you are not currently happy with the results you are getting in your business then perhaps it’s time to consider bringing about change to your daily thoughts, feelings and actions. You are going to have to change the thoughts first in order to change your results. You will be amazed at the difference just this change can bring to your business and your life and you will wonder why you didn’t focus on it sooner.

We have become such busy beings in such a busy society that we tend to be just doing and talking about what we don’t want rather than focusing on what we do want. It takes a lot of discipline to focus purely on what you do want, however I can guarantee you once you do just that you will be happy with the results you start to see.

The average person has 25,000 thoughts every day. Unfortunately they are the same thoughts day after day after day. Have you ever had a day off and found yourself automatically driving to work? It happens and all to often I must say. This is because most of us live a habitual life and you don’t have to put much thought into a habit. So make a commitment to changing your habits. Drive a different way to work. Change some ways you do things at work, and start being aware of your thoughts and feelings. By changing consistently your results will also change.

So here’s my first tip for you in creating better results in your business and also your life.

Focus on what you want, rather than on what you don’t want.

Slow and steady will win the race, so go easy on yourself in the first few weeks or even months, if you find yourself falling back into some old habits. Acknowledge them and move forward, is the best way to deal with them. They say Rome wasn’t built in a day so I encourage you to set yourself daily targets for improvement. These could be on a personal level and also in some areas of your business. No matter what area they are in, it’s the Daily Consistent Improvement that will make a difference to your long term success.  1% improvement every day will produce a 365% improvement over the course of one year. The challenge so many of us face is we do nothing at all and wonder why we are in the same position we were in a year before.

With all this said you have to be willing to change and willing to learn new habits along the way.

I have this quote by Albert Einstein” on the wall in my office as a constant reminder that if I want something to change in my business I must change my level of thinking first.

“All conditions and all circumstances in our lives are a result of a certain level of thinking.

When you want to change the conditions and the circumstances, we have to change the level of thinking that is responsible for it. 

Here’s some ways you can start making a change in your business and life.

The 7 Steps To Achieving What You Want

  1. Change Your Thoughts First In Order To Change Your Results
  1. Know What You Want!   Confucius says, “ man who aims at nothing is sure to hit it!” be sure you know what you wanting to achieve in your life and in your business.  Make sure you write down your goals.
  1. Know Why You Want It.  If the why is strong enough the how will fall into place.
  1. Create A Plan Of Action
  2. It’s important to chart your course of action. By creating a plan of action you will go in the direction of your goals a lot faster.  Make sure you have a time frame for what you want. This will ensure the actions you are taking every day are in fact taking you closer to your goal and not further away from it.
  1. Take Action  You will be surprised at how many people create action plans for their goals and then fail to take the necessary action required to see it come to reality in their life. Take Action, you will be amazed at how much you will achieve.
  1. Monitor and Measure By monitoring where you are at with the attainment of your course you will be able to adjust your course of action where necessary. By not knowing where you are going it’s very difficult to make a change if and when it’s needed.

A friend of mine says: “Sleeping is for dreaming , being awake is for living your dreams”

I encourage you to start focusing on changing your thoughts, taking the necessary action and living your dreams today!

Don’t Just Set Goals, Achieve Them!!

“Goals give your business and your life direction.
Taking consistent daily action at the right time and in
the right order will then help you achieve your goals
easily and effortlessly.”
Tania Allen, Founder,
Vision Alliance.

We are all familiar with the art of setting goals.  Like most business owners, I’m sure by now you may have set some goals for the next six or 12 months.  You have made a promise to yourself to do things differently, work more efficiently perhaps and of course make more money.  Setting goals is the easy part.  So how do you go from being a goal setter to someone who actually achieves their goals easily and effortlessly?

Achieving your goals comes easier when we know where we are heading.  Goals are like a destination.  They are where you want to go.

Without goals, you simply cannot arrive at a destination, and if you don’t know where you are going then how will you ever know what actions you need to take to achieve higher levels of success and achievement.  It would be fair to say then: Goals give your business and your life direction.  Taking consistent daily action at the right time and in the right order will then help you achieve your goals easily and effortlessly.

If you look around you, you will notice successful people have very different habits.

They think, and do things differently.  They are however no different to you or I.  We can achieve what they do and more.  They just have particular habits that anyone can apply.

Here are some key essentials to help you build the momentum so that you get closer to realising your full potential and getting  closer to achieving your dreams and goals.

Know your why

Why you want to achieve your goals will always play an important role in whether you will achieve them or not.  When setting your goals the stronger your why, the more committed you will be to doing whatever it takes to achieve them.

Set holistic and balanced goals

Successful people set goals in all areas of their business and life.  When working on your goals be sure you develop goals in six areas of life: relationships, spiritual, contribution, financial, health and business.

By pursuing goals in each area, you will create a more balanced and integrated life.

Be clear about what you want

All goals must be clear and concise, so when setting your goals be specific about what it is you want.

Aim high

Most of the time we are all aiming too low.

It’s time to get out of your comfort zone.  As the now-clichéd saying goes: Shoot for the stars, if you miss you’ll still be on the moon.

Make your goals slightly unreasonable; in other words, don’t allow your (perceived) limitations to get in the way.  Don’t allow your old conditioning to stop you from going after what you really want.

Write your goals in detail

Just the act of writing down goals sets the process in motion, so be specific.  The more information you include the more probable the final result will be.  By being as accurate as possible you invoke some of the natural laws of the universe in your favour as well as getting your brain to work for you in the most efficient way possible.  It’s always a good idea to follow the SMARTA criteria

(Specific Measurable Achievable Realistic Time bound Actionable) when setting goals and be sure you always set a date for achievement.

By writing your goals down you will be much clearer on where you are heading.

Look at it every day, stick it on your fridge, or your computer, it can be a picture, the words, whatever will motivate you to keep striving to achieve your goal.

Make your goals consistent with your values

Most people don’t do what they value first and therefore find themselves stressed and out of alignment.  Create a list of your highest values and then create your goals around them.  This will give you a sense of being on purpose consistently.

Know the consequences

It’s very important to look at the consequences of achieving the goal.  Ask yourself when setting your goals: “How will achieving this goal affect me or others?  Is this outcome good for me and others.”  Not all goals will have positive effects on others so it’s important you understand the positives and possible negatives to achieving your goals.

Review your goals daily

This is an important part of achieving success and must become routine.  Review your list of goals each morning when you wake up.  Visualize your completed goals and how your life looks and feels as a result.

Each night before you go to bed, repeat the process.  This is a great way to train your brain to expect your goals to materialize.

Create a Plan and take Consistent Daily Action

This is in fact the most important element to achieving your goals.  It’s okay to know where you are headed and what you want to achieve however if you don’t get off your backside and take the necessary action to make it happen then nothing will happen at all.  Be sure the action you take is consistent.  Get into a daily habit of knowing what actions you need to take and in what order you need to take them in order to move closer to achieving your goals.

Take some time now to get clear on your goals and create a plan, once you have your goals worked out you need to ‘reverse engineer’ them starting with the end in mind and working back to the starting point.

Check your Progress and Celebrate your Wins

Goals by nature are high achievements in life, and sometimes it can seem too hard to reach them, we lose motivation and give up!

Break your goals into smaller ‘milestones’ so you can celebrate your wins along the way.  It’s important to measure your progress to determine if you have gone off course.  Measuring your progress regularly will enable you to shift back on course quickly with minimum disruption to your momentum.  Keeping a check on your goals is also important as sometimes goals change so you can bend and flex where you need to, moving the goal to meet your changed conditions, requirements or intentions.

Don’t get discouraged

You will either achieve your goal, or you will gain insight into whatever is in the way of its achievement.  This is not a setback; rather, it is part of your forward progress.  Stay focused on what you want to achieve and you will find ways to solve difficulties or break through barriers.  Celebrate every success and before you know it, you’ll have to make a whole new list for ‘next level achievement!’

Finally, be committed!

There’s a big difference between being interested in achieving your goals or being committed to their achievement.  Those who are interested tend to do what is convenient, what is easy and what everyone else does.

Those who are committed will be able to achieve whatever it is they want no matter want, because they will learn what they need to learn, they will rehearse what they need to rehearse, they will practice and they will do whatever is needed to be done.

Committed people don’t have excuses; they relentlessly give up all their excuses and the reasons why they don’t have what they want.  They get rid of their excuses and they stop blaming  their outside circumstances and  put their attention on how they will and how they can achieve their goals.

So the most important question I encourage you to ask yourself today is: Are you Interested or Committed in Achieving Your Goals?

If you need some help and support in gaining clarity around setting and achieving your goals, email tania@vision-alliance.com to receive a Complimentary Goal Achiever Pack valued at $97.

 

Generating Leads

Your aim is to generate leads and opportunities and convert these into increased revenues to your business. This article outlines some of the challenges you may be already facing and highlights some quick simple steps of how you can generate more leads into your business.

In my experience one of the fundamental challenges most business owners face is not being able to generate enough leads into the business. Without a consistent supply of leads into any business, the business is usually faced with poor cash flow and finds it difficult from one month to the next.

You may have already experienced this and you now can be in a position where you have the opportunity to change what’s going on.

If you want to create amazing results in your business, and want to turn your vision into reality, the only way this can happen is if you are fully accountable for your success and are responsible for the actions you take on a daily basis.

Leads are prospects or potential customers.

It’s important though to attract quality leads into the business and not just any lead as this can waste your valuable time and money.

Your marketing efforts will determine the quality of the leads you bring into your business and the challenge businesses face in this area is 80% of all marketing doesn’t meet the expectation of the business owner.

Try not to limit yourself when it comes to advertising and marketing your business.

Traditional marketing methods include local paper advertising and emailing.

Opportunities let outside the square and can include strategies such as, building your referral networks.

Ads and direct mail are only the beginning!

They are important, however they should not be the only source used for generating leads for your business.

Not all lead-generating techniques are created equal either. Some techniques will work well for a certain business, and those same strategies won’t work for another. Much is dependent on your type of business, your location, timing, how well you apply the lead generating strategy, and a host of other variables that tend to make marketing an inexact science. Therefore it’s important to test and measure each strategy to find out what works, and make it work.

So here’s a brief look at what you can do to start bringing more quality leads into your business.

Firstly start thinking WHO, WHERE, WHAT, HOW & WHY when it comes to marketing your product or service.

Who are my ideal clients / market?

Understand who he/ she is and why.

Where are we going to find our clients?

Why will they buy from me? What makes us unique? Remember people shop on value and emotion.

Now you know who you want to target,

Create a Lead Generation Action Plan for the month

  • Listing at least 2 to 6 different lead generating strategies,
  • What steps you need to take to implement the strategy.
  • Who will complete the task/s required  to complete the strategy, and
  • Be sure you also have a Due date for the activity so you stay on track for the month.

Daily Consistent Action will produce results in your business that you need!

Here is an example of a lead generation action plan. (Click the image for a bigger version)

Untitled

Increasing Your Personal Effectiveness and Revenues

If you want to grow your business revenues much faster than you are now, it’s important to start focusing on the right activities in your business.

The key in achieving personal effectiveness is to focus the majority of your time on high- impact, revenue-generating activities that are most essential to your business. To increase your overall effectiveness, it’s important to know and understand how to accurately identify where you spend your time.

The 80:20 Rule

I’m sure you have heard of Vilfredo Pareto or at least Pareto’s Law. Pareto came up with an economic principle that said 20% of the people typically own 80 percent of the wealth. Two decades later, management guru Joseph Juran introduced this “80/20 Rule” to the business world, calling it Pareto’s Principle, or Pareto’s Law. Over the years, Pareto’s Principle has been applied to many areas of business, concluding that 20% of our efforts produce 80% of our results, or 20% of your team produces 80% of your results.

For you, this means that to increase revenues it’s important you focus on the right activities in your business and then hire, barter or outsource people to do everything else.

Multiply your business revenues and personal effectiveness many times over using the 80:20 rule.

Suppose your business has 25 different activities, such as sales, marketing, operations, finance, customer service and more. According to the 80:20 rule, 20% of those activities will generate 80% of your revenues. Conversely, 80% of those activities will generate only 20% of your revenues. Doing the math shows that 5 out of the 25 activities will produce four-fifths of all the income your business generates.

Now, assume that your business takes in $50,000 a month. According to the 80:20 rule, 5 of your 25 activities would account for $40,000 of your monthly revenue, which works out to $8,000 per activity. Conversely, 20 of the activities would produce only $10,000 each month, which works out to be just $500 per activity. Sixteen times 500 equals 8,000 so your top 5 revenue-producing activities are 16 times more effective than the bottom 20.

Suppose you took it even further and moved the 80/20 ratio to 90/10, so that only 10% of your activities produced 90% of your revenues. That would make you 81 times more effective than you currently are now. Merely by focusing your time and attention on the five or ten activities that have the highest impact on your business, you can increase your revenues and income by 16 to 81 times!

Here’s the million-dollar question: what specific activities should you be focusing on?

Here’s a brief three-step process to help you work more effectively in your business.

Step 1. Identify your Passion and Purpose

Passion is a very powerful emotion and is infectious. When you express passion, people are automatically attracted to it. When you’re passionate about what you do, your product or service speaks for itself. So the first big question is: what are you passionate about. What do you love doing?

Next, look at your purpose. Are you in business merely to earn an income, accumulate wealth or do you have a strong desire to help others and be a service to others?

When you can match up your purpose and passion, magic happens. It puts you in front of all the others who have lukewarm enthusiasm for what they do. What is your purpose in business, how does it match up with your passion, and how do you combine the two to make the world a better place?

Step 2. Identify Your Strengths

The biggest mistake business owners make is thinking they have to do everything themselves. Everyone has strengths and weaknesses. In order to succeed in business, you must get very clear about your unique abilities and then focus on them almost to the exclusion of everything else.

You will become a better business person when you identify your strengths and spend most of your time using them to perform the highest-impact activities in your business.

Step 3. Manage Your Time

When you’re a business owner it’s difficult to manage your time. What you can do is manage your activities by tracking where you spend your time on a daily basis and using that information to help you focus on high-impact activities.

One of your most important tasks is identifying the highest income-generating activities in your business and devoting a minimum of 80 percent of your time to those activities. This principle works whether you’re a “solo-preneur” with one product or service or a larger operation with a larger product or service offering and a team to support your daily efforts.

Monitor & Measure Your Activities

You can’t manage what you don’t monitor or measure so your first step is to identify where and how you spend your time. It’s important you identify what you are currently doing and what you should be doing, based on your highest income-producing activities.

For the next two weeks write down every activity you do in all areas of your business and how much time you spend doing it.

High income-producing activities include making a sale or something that leads directly to a sale. High-impact activities include producing a great website or making sure that your ad copy is properly written to make sales for you. These activities don’t directly make a sale, but they play an important role in generating revenue. To determine whether an activity represents one of your unique abilities, ask yourself two questions: What drives me crazy when other people don’t do it as well as me? What do I play at that other people consider work?

Track all your activities over a two-week period, noting how much time you spend on each activity each day. Before the two weeks is up, you will probably begin to see that you need to be spending more time on some activities and less on others. You will also begin to see that there are lots of activities that you should not be doing. This doesn’t mean they don’t need to be done, only that you should not be doing them.

What activities should you be doing? For the entrepreneur and small business owner, the highest income-producing activity is generating revenue. Every day, your primary focus should be on how your company will generate more revenue. If you’re not spending a minimum of 80% of your time on income- generating activities, your business will struggle to grow and increase revenues.

What about all the other activities that are just as crucial to your business? Here’s the challenge: For a small business, generating revenue must come first and management second. Otherwise your business will never grow to the point where management becomes as important as sales.

Revenues are consistently increased when the owner leverages his or her personal strengths through the use of other people’s unique talents and abilities. In other words, successful business owners focus on their highest income-generating activities and then build great teams around them to do all the other important activities they don’t do well.

It’s a fact, you don’t have to do everything yourself. Start focusing your efforts away from working in the business and focus them toward working ON it.

Make a commitment to yourself to spend one hour each day to identify which activities you need to be doing and tracking how you spend your time. Over the course of 365 days, that adds up to the equivalent of nine 40-hour weeks, or two solid months of working on your business rather than in it. Just imagine what you could achieve with that kind of concentrated effort!

Time to Take Action

  • Keep an hourly log for two weeks of your business and personal activities during your working hours
  • Determine which are the real high income and high impact producing activities vs. the tedious menial few
  • Take consistent action and maintain focus every day to ensure you are focusing on the high income and high impact producing activities.

To receive an expanded whitepaper on this topic including a full worksheet on increasing effectiveness please email tania@vision-alliance.com or call Tania on 1300 76 49 20.

Smarter Networking

Ten years ago or more there was a well known phrase that was used among business owners and individuals which was: It’s not what you know, it’s who you know.

Today, owning and operating a franchise of any kind requires you to go beyond this, if you are to continue to create and maintain the “top of mind” awareness among peers, associates and the larger local marketplace. Networking today now goes beyond who you know….. 

It’s all about who knows you!

For much of my business life I have known the importance of networking. Although I knew the importance of it, I avoided networking as much as I could in the early days, and back then always described myself as a poor networker. The thought of going to a networking event created more nerves in me than meeting my mother in law, and literally scared me to death. I have always been a very confident person, passionate about what I do and believe 100% in what I and my company stands for, however unsure of how to start conversations, trying to overcome the fear of rejection and not knowing exactly what I was supposed to do once I met someone and got their business card, kick started a journey of learning the secrets to successful networking.

I have been described as a great networker by many of my associates and now with more tools in my toolbox, networking is something I look forward to rather than something I shy away from. The most important thing I focus on is making networking as efficient and effective as possible, ensuring I get maximum results in a short amount of time.

Let me share with you some great tips that have helped me along the way.

Networking is about building relationships.

Networking currently accounts for 87% of business in the marketplace. Yet many people neglect networking and fail to see it as a vital business and career building skill. Networking should be part of your daily, weekly or monthly activities just like any other business development activity you currently undertake.

Anyone can network with the exception of those who just don’t like people at all.

Referral marketing is the best way to build your business.

 

Networking Well

Your approach to networking is just as important as what you actually do. Starting with the right attitude and with minimum expectations will help you start off on the right foot. Like anything the more practice you do, the better you will eventually get.

For networking to work I have learnt that it’s important to do these three things.

  1. Prepare
  2. Connect
  3. Strengthen

If you’re not getting the results you want from networking, first check that you’re really doing all three of these steps properly, then work on ways to maximize your results within each one of them.

Prepare

Before you even shake one hand, it’s important you prepare yourself, both mentally and verbally.

This one is about your attitude about networking, your mindset.  Always be upbeat, positive, enthusiastic and realistic.

Making Connections- Introducing Yourself

Once you’re prepared, you’re ready to start making connections with people and there are multiple ways to do that. It all starts with introducing yourself.

You will have a limited time to get your message across so it’s important to create an introduction that will grab peoples’ attention enough for them to remember you. Not only do you require the skill to accurately describe who you are and what you’re looking for, it’s important to say it in such a way that other people can understand it enough to be able to tell others.

How to Introduce Yourself

Remember, you’re not going to make the sale and close the deal with your introduction. All you can really do is capture enough attention and interest to keep the conversation going. So stick to the basics and keep it short. You can go into much more detail after you’ve gotten someone’s attention, when they ask you for more information. But to get there, you need to get across three things first:

  • Your name (and company name if appropriate)
  • Your specialty and its benefit (how it helps the person hiring you)
  • And your target (who ideally you would like to speak with)

Unless you are a natural networker, networking can seem like alot of work.

Consistent efforts will eventually produce results.

Strengthen

Networking doesn’t stop there. Once you’ve made those initial connections, the next thing you have to work on is strengthening them. The best opportunities come from people who know you, trust you and like you. It’s difficult to get to that point after a 5-minute conversation at an event. You need to follow up and meet with contacts offline, then you have to stay top of mind.

Be sure you collect as many business cards as possible

 as the networking event is just the beginning!

Following Up

Events are good for the initial connection, but you have to build on that. You don’t have to follow up with everyone you meet, but there are three easy categories to focus on:

  1. Follow up with anyone who could be a client. That’s a no brainer.
  2. Follow up with people who are in your target space, maybe they’re in your field, but don’t do what you do. Or they target the same target audience. Perhaps you can help each other out
  3. Third, you may want to follow up with anyone who just plain impresses you. It’s good to know those kinds of people and have them in your network.

Get a business card. The best way to do this is to combine it with a conversation ender like mentioned earlier. Say “By the way, before I go, can I have your card?” Then email them the next day. Say you enjoyed meeting them and wondered if they’d like to get together for a coffee to learn more about each other and explore ways to help each other out. Position meetings this way you will find no one ever says no, because the meeting is about the two of you and not just about you. That’s important to remember when you’re asking for meetings.

Remember, you need to follow up with people if you want to build a relationship with them. Speaking to them for 5 or 10 minutes at an event is not enough time to form a lasting bond. Until you follow up and meet one-on-one, you’ll just be a business card to them and not a real person.

Key elements of a Good Networker

A Good Networker:

  • Has two ears and one mouth.
  • Asks questions and gets to know the other person.
  • Gives without expectation
  • Has an aim to add value
  • Has an abundant mindset- there is plenty of business out there for everyone.
  • Can form meaningful relationships and communicate their ideas.
  • Carries business cards at all times

Tips for Successful Networking

  • Limit your memberships to two or three groups. Don’t spread yourself too thin. Maximize your experience by going for depth of involvement.
  • Attend meetings and events regularly. Build a base of support with regular members and position yourself with new members as someone in the know.
  • Build great bridges! Every day people are missing chances to do business, largely because they don’t take the time to build a relationship with or even get to know the person.
  • Listening and asking more questions.
  • Arrive at meetings and networking events at least 15 minutes before the actual starting time
  • Introduce yourself with your name and the company you are from
  • Ask about the person first and listen intently. Most people want to talk about themselves.
  • Make sure you get as many business cards from all those you meet
  • Speak with one person at a time or at least a small group of no more than three
  • End conversations gracefully
  • Make sure you follow up with the contact soon after the event
  • Do something with the cards you collected…..put them into your database
  • Always thank people for sending referrals
  • Manage your time well

Making Continuous Improvements

When I first started networking to build my business, my efforts were slightly unfocused. I spread my memberships across a numerous organizations, rarely attending more than one or two meetings, if that. I’d attend random networking events because friends had invited me. In hindsight, all of those activities were necessary to help me build my skills and understand how to network smarter today.

With networking, I’ve found that it’s not the one big event that changes the course of a business. It’s the small steps that are taken consistently.

Think of all the steps you’ve taken, along many different paths to connect with all the different people now in your network. Some of those paths led to business, to friendships, and some have yet to reach a destination. Take one of these 5 steps listed below, down one of those unfinished paths, and see where it may lead

1) Make that follow up call.

2) Forward an article.

3) Warm up an old connection.

4) Spend more time with one of your networking groups.

5) Find someone in your network to collaborate with.

Strive for continuous improvement in your networking.  One small step for you could mean a giant leap for your business or career.

 

4 Simple Ways to Build Consistent Success

If you are like most business owners, you are striving to do things better this year. You want to make more money, you want more bottom line profits and I can also probably guess you want all this and more without having to work longer hours, with less overwhelm and zero headaches.

So how do you build a more efficient and consistent business? Well the answer to that question is quite simple. It’s about doing the right things in the right order and taking consistent daily action.

Here are 4 areas you can focus on quite effortlessly to ensure you build more momentum over the next 12 months.

Create your outcomes

Now I’m sure you are all familiar with the tradition of goals setting. We follow the smart criteria we learnt in our management and business training and then we hope that when we review those goals we have achieved them. Well if you want my honest opinion, for the majority, goal setting just doesn’t work. It’s a bold statement but true. Your focus should be on achieving your goals not just setting them, so that’s when I changed the acronym to SMARTA to include that all important element – ACTION. Unless you take the required action, your goals will simply remain your wishes and desires. So how do you CREATE your outcomes so you can move closer to where you want to be? As Peter Druker once said, “The best way to predict your future is to create it.”

The first step is to decide what you want. It may sound simple but most don’t even get this far. I believe success starts with a decision. Regardless of whether you have small or big goals you must decide what you want.

How you write down what you want is very important so as you begin the first step of wiring down your goals, make sure your outcomes meet the CREATE criteria

C- Clear and concise in other words be specific about what you want to achieve

R – Realistic Remember we don’t – get what we want, we get what we expect. So set your outcomes in alignment to what you expect you can achieve. Once you start achieving your goals, stretch your expectations and yourself.

E- Ecological – running an ecology check on your goals is always a good idea. This simply means looking at the consequences of attaining that goal. You may ask yourself, is this outcome good for me and good for others etc.

A- As If Now – it is vitally important you write your goals in the present tense. This is because once the mind has fully imagined something, it makes it far easier to accomplish. So your goal must be written in the present-tense language, as if you are achieving the last step right now in this moment.

T-Timed and Toward What You want – even though you are going to write down your goals in the present tense, you must put a future date or time to your goal to indicate when you wish to achieve this outcome.  The T also stands for toward what you want; this just means it’s important to express your goal positively rather than including negative language about what you don’t want.

E- End Step – evidence Procedure – always include the final step that lets you know you have actually achieved your goal. This is the event, situation or result that would occur in order for you to have attained your outcome. 

Take Consistent Daily Action & Improvement

They say success is in the follow through and therefore Action is an essential element to success, but how do we maintain that action on a daily basis and focus only on the high income and high impact activities that will help us move to achieving higher levels of success.  The average person over estimates what he or she can do in a day, a week or a month, and they under estimate what they can do in a year, five years and a decade.

Most of us associate action to taking big leaps and bounds which is not always possible to maintain every day. So to get started with building more consistency in your efforts, try focusing on achieving consistent daily improvement. We all think we have to improve by 20% or 50% or 100% in one leap. Why not make the decision to commit to improving your business, your sales, how you interact with your customers, your staff etc. in fact everything you do, by only 1% – but do this every day. At the end of every year you will be at least 3665% improved in many areas of your business and your life. Think about how much closer you will be to achieving your goals and outcomes if you are achieving those kind of results consistently.

Develop a prospect mindset & keep them for life

When you develop a “prospect mindset,” you’ll begin to understand what your customers want… specifically. You’ll understand how to clearly identify the problems, frustrations and concerns they typically experience when they buy what you sell. These frustrations, concerns, problems and fears are what we call HOT BUTTONS.

If you can discover what your ideal customer wants, and then provide them with solution to their wants, they will buy from you each and every time.

Once you completely understand how and why human beings make decisions, you can then begin to create persuasive and compelling marketing messages that are so powerful they practically force your prospects to buy what you sell.

Become an Automatic Smart Networker

Though it may be hard to grasp, networking is much easier than you think. Forget the myth that

you need to be an extrovert to network well. You don’t. Or that you must network nonstop.

Absolutely not. Or that networking is all about working the room at a big event with a big fake

grin plastered on your face. Far from it.

You might be waiting for a bolt of confidence to strike before you get up enough courage to put

yourself out there, but confidence doesn’t magically appear. Instead, confidence comes partly through knowledge, being able to see what the process looks like, trusting yourself and taking a deep breath and plunging right in. It also comes from knowing what to say to people when asked …”what do you do”

In short:

AVOID Telling People WHO You Are

  • I’m an accountant
  • I’m a plumber
  • I’m a florist
  • I’m a business coach

Tell People WHAT You DO & Show Them How Your Solutions Matches Their WANTS!

  • I help people become financially successful
  • I help people with all their plumbing needs
  • I bring joy and happiness to peoples day
  • I help business owners get more from their business

Once you have the experience of communicating this well and find that networking is not so daunting after all you will wonder why you ever waited so long to get started

Remember you must network the smart way which will include both face to face networking and online social media. Not enough people view social media as a form of networking, but it’s a must if you want to leverage your opportunities through your connections.

Smart networking

ü  Is driven by purpose. It starts by defining your goals. These goals should then determine whom we ought to have in our network, which in turn, should help us decide where best to meet them. This means you are just not wasting time at the wrong events or in following up when it’s not the right fit.

  •  adds value and removes pressure as it places a deliberate focus on the needs and feelings of other people first.
  •  leverages tools that multiply our productivity. Rather than meeting people and interacting with them one-to-one, smart networking takes advantage of online tools and services that help us reach people on a one-to-many basis.

Time to Take Action

Remember success in in the Follow Through so take some time right now to

  • Decide what you want & create your outcomes for the year.
  • Commit to consistent daily improvement
  • Match your solutions to your customers wants
  • Become an automatic smart networker

Business Insights to Help Optimise Your Potential

Get clear on your WHY

Whether you are just getting started in business or you are a veteran and you have been doing it for a while I have come to realize that most business owner are not experiencing the level of success they truly want. Sure you may be very optimistic and may even come up with some very good reasons why you are not enjoying the level of success you ideally want, you have set your goals and you are taking the action when you can to move you closer to achieving what you want, so why are things taking longer than they should.

Achieving success in business is about doing the right things in the right order at the right time…I’m sure you have heard me say this time and time again, and I hear you saying back to me….I’m doing that Tania, so why am I not realizing the success I truly desire.

Here are some quick and easy things you can do to support your journey in business and help you achieve more momentum with less effort.

Determine why you are in your business. Sometimes we can lose sight as to why we went into business in the first place. Take the time to reconnect you’re your passion and your purpose and the very reason why you bought into the franchise brand in the first place.

If you focus on what you are doing to earn a living, then you will always be doing stuff just to bring in the money. The passion will fade and all you will be left with is a passionless job in your own business.

By shifting your focus from WHAT you have to do to WHY you are doing it, things will flow and you will attract more customers, more money, more balance and build more momentum that will ultimately support you in achieving your dreams and goals for you and your business.

Knowing Your  L – S – F Gap

If we were to look at business from a simplistic view point every business either has a leads gap, a sales gap or a fulfillment gap. L — S — F  (Leads, Sales & Fulfillment. )  Of course there are many areas of business that require attention and continuous improvement however these three are the primary ones.

Without leads coming into our business, we don’t even come close to the opportunity of closing sales. Without sales there are no revenues therefore there is no business. Fulfillment focuses on the delivery of your products or services and without it there is no follow through in the business itself. I’m sure you have heard this before, success is always in the follow through.

Carrying out a regular gap analysis helps you to define your present and future objectives in both financial and non-financial terms with also a specific focus on the L-S-F areas of your business. The difference between where you are and where you want to be is the gap and becomes the starting point for building your business to the next level.

A gap analysis need not just be about leads, sales, fulfilment or the money, it is however usually where most people start. Your non-financial considerations could include the number of team members, your product or service offering to the marketplace and the number of satisfied customers. Other areas could also include the number of hours you work, the number of recreation days, family days and the holidays you take.

Serving Vs Selling

Gone are the days where we “sell” to others. Today it’s all about serving, not selling. You may need to shift a little in your thinking to get this. To this day customer service is very important to me. You’ve just got to ask my kids. Not only do I expect great service it’s a value in our company that we serve our customers rather than sell to our customers. Sales is the discovery of a match.  If what you have to offer does not match what the customer needs or wants and vise versa, then generally a sale should not take place if you are in the business of serving.

If we are to serve not sell then it’s important to ask ourselves who do we want to serve more of and who do we want to serve less. I liken our ideal client to our favourite toy or teddy bear when we were children. We still played with the others, however we spent more time with our favourite one. It brought more fun and enjoyment into our day so the same can happen in your business. Focus on your ideal client and you will increase your revenues, build more momentum and have more time to do the things you love. Before you can start serving more of your ideal customer you’ve got to know who they are and what they look like and where to find them.

You can get started by asking yourself these simple questions:

  • Describe the type of customer you want to do business with.
  • Describe the type of customer who you believe will give you the greatest return on your marketing investment.
  • Looking at your current business which customers do you believe right now are the easiest to find, easiest to sell to and require the least amount of time spent on them?
  • Describe the type of customer who will stay with you the longest and spend the most with you.

Value – It’s all Perception:

I’m asked this question all the time: “How do I know if I’m providing enough value?” We all have adopted a belief that it’s important to add value when we “sell” our products and services. Unfortunately this in fact causes most people to reduce their effectiveness and growth potential. When we are focused on selling we are always looking at how we can convince the customer of the value of something. If you shift to serving then it is our job to help the customer discover the value that is there for themselves.

Value is perceived. It is a perception, which means the value will be different for every single customer. Value tends to be never about the money. It’s about the relationship you build, it’s about the experience you create.

Rather than setting the expectations around what you are selling that may or may not match those of the customer, you can focus on serving them in alignment to what they are wanting and then they will derive the value out of everything.  Knowing what is important to your ideal customer will assist you in building the perceived value around serving them.

Most business owners believe they have to provide massive value to their clients, and

then they get paralysed by the concern of whether they are doing that or not. As perception is perceived, the customer is always responsible for getting the value out of the relationship! There are some things you can do to raise the perception of the value you provide and they can differ from business to business. Take some time to think about ways you can improve the perceived value wrapped around your product or service. Find out what your customer wants, loves and what’s most important to them.

Now you know your why, you’ve identified your gap and you have worked out how you will add more value without having to work harder we will, in the next issue, move onto learning how to put a revenue plan together and implementing that plan to increase revenues and help you build more momentum in your business.