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Posts made in September, 2011
People open businesses for all kinds of reasons, so you really have to analyze your long term goals. That means thinking with your head – NOT your heart. Just because you love a hobby, does NOT mean that’s a good business for you to open. So, should a good cook open a restaurant? Should an avid golfer open a pro shop or a golf course? Keep in mind you’d have to deal with crazy guys like these in the movie Caddy Shack.
Image from Life in the Rough
First, consider this reality check on turning a hobby into a...
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It used to be that the stock and real estate markets were the easy, obvious places to invest your money; kind of like Peyton Manning was always an early pick in the first round of the Fantasy draft. But, even before Manning’s neck injury and recent surgery was announced, fantasy team managers clearly demonstrated their lack of faith in his recovery when he was picked, on average, in the fourth round instead of his usual first round position.
In these shaky economic times, people want a safe bet. They want to invest in...
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Every now and again, I like to share a story of one of our franchisees on the blog. Just like a picture that tells a story, sometimes I think we learn just as much or more hearing about others as we do reading all the business advice we can get our hands on. There’s just something about a true story that helps us hold a mirror up to ourselves and re-evaluate. (Don’t worry – no cheesy Hollywood-style “based on a true story” flicks here!) But, Mark Grace got me thinking this week, and I hope you can glean something...
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It’s getting harder and harder to find a full-fledged retiree these days. Every time I talk to someone who is “retired,” it seems they’re still working… at least in some capacity. I remember when my grandfather retired. He went fishing… he wasn’t interested in working anymore. He’d done his time. Wasn’t that true of most of our grandparents’ generation? This is a dramatic shift in philosophy in the U.S., and it’s changing the small business landscape, especially in the franchise world.
Most...
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First things first. I’d like to encourage you to engage your minds and get your blood pumping by turning up Jock Jams right now… possibly on repeat. In the words of the hit song from “Space Jam,” “Y’all ready for this?”
It’s something every new business owner has to ask themselves. “Am I ready to hire a general manager?” We get the question from our franchisees all the time. Hopefully these tell-tale signs will help you decide if you’re ready to make the big jump and hire a GM.
Top signs you’re...
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