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Casual Articles - Why the Gold is In the Data Base, and How to Dig it
In recent years the rush to Franchise has been as much about companies wishing to grow as it is about people wanting to start their own business.Why do companies want to Franchise? Well! It is a case of simple economics; a small company can grow and expand much more quickly and much faster by adopting the Franchise model.To grow quickly small companies need to have access to plenty of liquid capital (cash) to pay for new premises, new staff salaries, and equipment and so on, but if you buy Franchise opportunities they don’t need to do this!The reason is that eager people are willing to put in their own money in the form of a Franchise license fee and start up capital allowing the opening of many more outlets than would otherwise be possible. The upside is that the Franchisees will take out much more than a standard employee could ever hope to do, but this is in return for complete commitment.Because of the attractions of expanding through a Franchise model there a literally hundreds of Franchise opportunities available to buy and more are becoming available every day.This is good news for the person looking to buy franchise opportunities. As long as you know how to easily identify those which are going to be the best buy franchise?Otherwise as a potential b
Swans are precious, and there aren’t many of them. We treasure each other and we take every opportunity for a quick phone call or coffee, or even write off a whole afternoon for a terrific lunch and chat. Invariably we discuss the businesses we’re so passionate about, and have enormous fun working and creatively brainstorming together to help each other.
Something like 80% of referrals comes from our Swans. It’s only natural that we’ll spend at least 80% of our networking time with them – and it sure doesn’t feel like networking in the conventional sense of the word. Wh
This article points out some advantages of outsourcing, not just in a context of IT but in general context as well. Economist Simon Domberger published a study in 1998 called “The Contracting Organization” in which he published the results of his study of various organizations.According to this Study, the following are the benefits of outsourcing:Specialization If an organization focuses its attention on the activities at which it is very good and efficient, the value that it can add is maximized and it benefits from the economies of scale as well.This can be seen in organizations like Nike or Nokia or iPod which focuses just on product design and outsourcers all its manufacturing activities elsewhere.Market Discipline When an organization contracts out the delivery, support or maintenance of its product of service, the focus shifts to right place i.e. Customers, Competitors and Markets. Thus it becomes better at spotting trends and responds to changing market conditions.With outsourcing, the company starts to focus on outputs and not inputs and that leads to process innovations and reengineering to deliver maximum customer value.Flexibility As an organization works with a network of vendors it will find it easier to add or change vendor organization in response to market demand. This
Most marketing experts agree that databases can be divided into 3 distinct groups:
• The people who have an intimate knowledge of what you provide and who adore you so much that they send referrals to you hand over foot without your even having to ask.
• The people who understand what you provide, and do like you, but they don’t often think to refer unless you ask them. They need gentle prodding.
• The people who are not yet “on board”, who may not even have bought from you yet, and who probably wouldn’t refer you because they just don’t know you well enough.
You could call these database segments A, B, and C, but we find that a bit boring and impersonal. We called ours Swans, Kookaburras, and Ducks, but it’s the same thing.
Why I Picked the Bird Theme
Before anyone thinks I am belittling my clients by referring to them as birds, let me explain the story behind this! In 2003, when I first developed the concept of strategic alliance networking (which I called Speed Business Networking), based firmly on relationship building rather than deal building, it looked very much more like people standing around having a very good time. Rather than looking like a networking session, it looked like what it was, authentic business friends engaging with each other with mutual respect, in a nurturing and fun environment.
During one of these my husband arrived toward the end, to find me, glass in hand at 4 o’clock in the afternoon, laughing and chatting and having just the best time with a group of business buddies. He said to me, in front of everyone bless his socks, “What are you doing here swanning about?” (Yes, we’re still married, and it’s a good thing I have a strong sense of humour!)
I thought to myself “swanning about – what a delightful way to describe networking when it’s done the right way” and from there the idea of “Swans” was born.
So Who are “Swans” and When and How Do I Communicate with Them?
Swans had to describe my very best friends in business, the people that I just love to pieces, and whom I feel loved by in return. They’re the people I have coffee and meals with, and invite to my home, and share my life with. They’re the people I will go to the ends of the earth to refer business to and who do the same for me.
We didn’t pick each other because of any deal we could see. We didn’t pick each other because of perceived “usefulness”. None of those things are a valid basis for friendship. We picked each other simply out of mutual admiration and recognition of shared values, principles and philosophies. When we eventually grow old and retire, it’s likely that we’ll still be friends.
The deals, referrals, and other support that have flowed from these relationships are a natural function of what happens when people who like each other spend time together. And it can’t be faked.
Swans are precious, and there aren’t many of them. We treasure each other and we take every opportunity for a quick phone call or coffee, or even write off a whole afternoon for a terrific lunch and chat. Invariably we discuss the businesses we’re so passionate about, and have enormous fun working and creatively brainstorming together to help each other.
Something like 80% of referrals comes from our Swans. It’s only natural that we’ll spend at least 80% of our networking time with them – and it sure doesn’t feel like networking in the conventional sense of the word. Whe
Starting a restaurant is a complicated and time consuming venture that requires a lot of organization, patience and careful planning. The best way to go into the process to give yourself the greatest chance of success is to have a well thought out business plan to work from to keep you on track, on budget and in the right frame of mind.Before you do anything else, you should put together at least the framework of your plan to make sure you understand the challenges you will face and the hurdles you will have to overcome to get to the point where you can open your doors to a hungry and appreciative public.Your business plan will need to address such things as the planned menu, the operations, the staffing, the location and the management team, among many other aspects of the business. The best, and easiest place to start is with the executive summary. This is a one to two page high level overview of exactly what you are trying to accomplish with your restaurant.In your initial planning and writing of the executive summary, you are trying to answer a lot of basic questions. Are you going to be fast food, fast causal, family style or upscale dining? Will you have counter service, self service or full service? Who is your competition and what will you do to differentiate yourself from them? What kind of marketing
Why I Picked the Bird Theme
Before anyone thinks I am belittling my clients by referring to them as birds, let me explain the story behind this! In 2003, when I first developed the concept of strategic alliance networking (which I called Speed Business Networking), based firmly on relationship building rather than deal building, it looked very much more like people standing around having a very good time. Rather than looking like a networking session, it looked like what it was, authentic business friends engaging with each other with mutual respect, in a nurturing and fun environment.
During one of these my husband arrived toward the end, to find me, glass in hand at 4 o’clock in the afternoon, laughing and chatting and having just the best time with a group of business buddies. He said to me, in front of everyone bless his socks, “What are you doing here swanning about?” (Yes, we’re still married, and it’s a good thing I have a strong sense of humour!)
I thought to myself “swanning about – what a delightful way to describe networking when it’s done the right way” and from there the idea of “Swans” was born.
So Who are “Swans” and When and How Do I Communicate with Them?
Swans had to describe my very best friends in business, the people that I just love to pieces, and whom I feel loved by in return. They’re the people I have coffee and meals with, and invite to my home, and share my life with. They’re the people I will go to the ends of the earth to refer business to and who do the same for me.
We didn’t pick each other because of any deal we could see. We didn’t pick each other because of perceived “usefulness”. None of those things are a valid basis for friendship. We picked each other simply out of mutual admiration and recognition of shared values, principles and philosophies. When we eventually grow old and retire, it’s likely that we’ll still be friends.
The deals, referrals, and other support that have flowed from these relationships are a natural function of what happens when people who like each other spend time together. And it can’t be faked.
Swans are precious, and there aren’t many of them. We treasure each other and we take every opportunity for a quick phone call or coffee, or even write off a whole afternoon for a terrific lunch and chat. Invariably we discuss the businesses we’re so passionate about, and have enormous fun working and creatively brainstorming together to help each other.
Something like 80% of referrals comes from our Swans. It’s only natural that we’ll spend at least 80% of our networking time with them – and it sure doesn’t feel like networking in the conventional sense of the word. Wh
It happens all the time.Successful leaders- people with great business acumen, great teams and great vision- are moving along, growing their companies when, all of a sudden, they fall flat on their faces.Their businesses start hemorrhaging money. Their best people start jumping ship. Their families start falling apart.And they sit at their desks with their heads in their hands wondering, "How did this happen?"I'll tell you how it happened. They were blown up by a problem they never saw coming.I call these problems "leadership landmines" because unless you're consciously looking for them, they're nearly impossible to spot. They're buried in the grind of daily life, quietly waiting to injure and perhaps even destroy the next unsuspecting leader who steps on them.Before I go on, I need to tell you that what I'm writing is based on personal experience. At one time or another in my career, I've stepped on landmines like the ones I'm about to describe. In some cases, I even have the scars to prove it.If you're moving and active, you're bound to have a painful encounter with a landmine every now and then. It's just the nature of leadership. But there are certain landmines that will absolutely wipe you out if you're not careful, and those are the ones that really deserve our attention.
I thought to myself “swanning about – what a delightful way to describe networking when it’s done the right way” and from there the idea of “Swans” was born.
So Who are “Swans” and When and How Do I Communicate with Them?
Swans had to describe my very best friends in business, the people that I just love to pieces, and whom I feel loved by in return. They’re the people I have coffee and meals with, and invite to my home, and share my life with. They’re the people I will go to the ends of the earth to refer business to and who do the same for me.
We didn’t pick each other because of any deal we could see. We didn’t pick each other because of perceived “usefulness”. None of those things are a valid basis for friendship. We picked each other simply out of mutual admiration and recognition of shared values, principles and philosophies. When we eventually grow old and retire, it’s likely that we’ll still be friends.
The deals, referrals, and other support that have flowed from these relationships are a natural function of what happens when people who like each other spend time together. And it can’t be faked.
Swans are precious, and there aren’t many of them. We treasure each other and we take every opportunity for a quick phone call or coffee, or even write off a whole afternoon for a terrific lunch and chat. Invariably we discuss the businesses we’re so passionate about, and have enormous fun working and creatively brainstorming together to help each other.
Something like 80% of referrals comes from our Swans. It’s only natural that we’ll spend at least 80% of our networking time with them – and it sure doesn’t feel like networking in the conventional sense of the word. Wh
You need to know what stands behind your brand. If it is your own manufactured product, then you need to know that the parts you purchase are also of quality. You have heard the saying that you are only as strong as the weakest link. This means, it only takes one part to weaken the quality and performance of your product. Price almost always comes into play when purchasing parts because this is what drives the final price of the product. Price should not be the only factor; you need to know the quality of materials and how those materials perform over time. If you are manufacturing blankets, you will want to know that the wool has been treated appropriately and that the dyes you use will not run and create problems for consumers. Many factories in other countries have a reputation of not putting quality into their products and they sell very cheaply on the market. This is not always the case; some products are of an extremely high quality, look at the Japanese cars as an example. The brand is sometimes what the competition makes it. For example, some computer manufacturers were asking top dollar and they also had high quality for their products. Along came a competitor with cheaper equipment that did not always function the way it should. Although people purchased the cheaper computers as that is all they could afford,
We didn’t pick each other because of any deal we could see. We didn’t pick each other because of perceived “usefulness”. None of those things are a valid basis for friendship. We picked each other simply out of mutual admiration and recognition of shared values, principles and philosophies. When we eventually grow old and retire, it’s likely that we’ll still be friends.
The deals, referrals, and other support that have flowed from these relationships are a natural function of what happens when people who like each other spend time together. And it can’t be faked.
Swans are precious, and there aren’t many of them. We treasure each other and we take every opportunity for a quick phone call or coffee, or even write off a whole afternoon for a terrific lunch and chat. Invariably we discuss the businesses we’re so passionate about, and have enormous fun working and creatively brainstorming together to help each other.
Something like 80% of referrals comes from our Swans. It’s only natural that we’ll spend at least 80% of our networking time with them – and it sure doesn’t feel like networking in the conventional sense of the word. Wh
Bonds are becoming more common in our society today. You might be wondering what a surety bond is and why they are necessary. Individual business owners, corporations, federal and state governments and municipalities may request or require a surety bond of some sort before entering into an agreement in order to secure the investment. Surety bonds can act as reinforcement for obligatory relationships between parties and/or a support for persons acting under a license or permit. A surety bond is a contract drawn up between three parties: the surety, obligee and principal. The surety company promises to become responsible for the principal’s commitment in the event of a default. The surety may either pay the agreed bond amount to fulfill the contract requirements or arrange to have the contract upheld by another. The bond acts as extension of credit for the principal, protecting the investment by the obligee.Construction bonds are one of the most common surety bond categories today. General contractors and sub-contractors are usually required to provide perspective owners with a bond to support their performance and presented terms of building contract. Because surety bonds are initiated by the principal, the principal agrees to pay premiums (generally annually) to the surety company in exchange for their support. Surety bond
Swans are precious, and there aren’t many of them. We treasure each other and we take every opportunity for a quick phone call or coffee, or even write off a whole afternoon for a terrific lunch and chat. Invariably we discuss the businesses we’re so passionate about, and have enormous fun working and creatively brainstorming together to help each other.
Something like 80% of referrals comes from our Swans. It’s only natural that we’ll spend at least 80% of our networking time with them – and it sure doesn’t feel like networking in the conventional sense of the word. When I’ve spent time with one of these wonderful people I come away thinking “It’s people like these I went into business for” and feeling inspired and motivated to do even more.
I have a sub-group of Swans that I call “Black Swans” after our official State bird. The Black Swans are people I’ve actually formed strategic alliances with. These are people who impress me not only professionally, but personally. Because I spend so much time with them, I come to know their business intimately, almost as well as my own, and I enthusiastically represent them to everyone else I know.
Likewise my Black Swans know me and my business. They know with absolute confidence that I help sales people and business owners to increase their revenue probably better than just about anyone. So when my Black Swans have clients who need to grow, or who need guaranteed winning sales people, they don’t hesitate to recommend me.
Literally, we are helping to build each others’ businesses.
Kookaburras
Kookaburras are people whom I like, and whom I’m pretty sure like me too. They might not have bought from me, but they could in the future. They’re happy to recommend me, but I do have to remind them.
How do I remind them? Simply by keeping in touch. 2 months is the maximum I will go before getting back in touch. More typically I’m sending little titbits of news, announcing events, or sending our monthly ezine “Business Strategies for Success”. About once a month we call them for a quick chat if they’re around, and we might suggest meeting either in their office or for coffee.
Importantly, we’re never in any way pushy. We’re friendly, we’re warm, we’re informative, we’re caring. All we’re saying is “this is us, and we’re here if and when you want us”.
And as we’re getting to know these people better, we’re looking for the Swans amongst them: more business friends to welcome into our inner circle.
We spend about 15% of our networking time with our Kookaburras.
Ducks
Ducks don’t know me very well, and I barely know them. Maybe we just don’t “click” or maybe we just need more time to get to know each other. I can’t get inside their heads and force them to like me – all I can do is to stay in touch, keep letting them know I’m here if they need me, and wait.
Often Ducks turn into Kookaburras and sometimes even Swans, but in any case we would be very silly to spend a significant portion of time with a group which represents almost zero business and zero referrals.
I am not going to communicate with the same warmth to the Ducks because that would be presumptuous of me. You know what it’s like when someone you hardly know greets you like a long lost friend? That awful stomach churning feeling that you get when someone is pretending t
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