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- 2007-11-13 22:16:19 - The business leader as ultramarathoner
- Have you ever heard of an ultramarathon? A standard marathon is just over 26 miles. An ultramarathon is usually on the order of 50 or 100 miles, though there are some that span one thousand! Imagine the endurance required to run such a race.Running a business requires the kind of devotion and stamina that ultramarathoners can only dream about. Like the 100-mile runner, the successful busine...
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- 2007-11-13 22:16:19 - Business ideas
- Richard Branson, billionaire founder of Virgin Records and Virgin Atlantic Airlines, may be better known for his efforts to circle the globe in a hot-air balloon than for his business successes. He suggests that "Being an adventurer and an entrepreneur are similar? You're willing to go where most people won't dare."But it is still generally accepted that entrepreneurs are skillful...
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- 2007-11-13 22:16:19 - The risks of entrepreneurship
- The "spark" for many entrepreneurs is seeing an opportunity that doesn't yet exist. Ted Turner, for example, launched CNN because he perceived that people wanted more television news than they were being offered. It took a lot of patience on Turner's part to realize the vision, but he had read the market in a way that few "experts" did at the time.In realizing the promise of CNN, Turner dem...
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- 2007-11-13 22:16:19 - What makes a person an entrepreneur?
- Entrepreneurship is generally characterized by some type of innovation, a significant investment, and a strategy that values expansion. The entrepreneur is often quite different in mindset from a manager, who is generally charged with using existing resources to make an existing business run well. The roles of entrepreneur and manager are not necessarily incompatible, but entrepreneurs are seldom ...
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- 2007-11-13 22:16:19 - What is entrepreneurship?
- In discussing entrepreneurship and writing articles on the subject, I have found that it aids understanding when we begin by agreeing on exactly what the word means to us.Entrepreneurship is the process of creating or seizing an opportunity, and pursuing it regardless of the resources currently controlled. The American Heritage Dictionary defines an entrepreneur to be "a person who org...
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- 2007-11-13 22:16:19 - Differentiation strategies for franchise companies
- With the growing number of franchise offerings recently it is difficult for the smallest franchise companies to compete. They generally do not have the advertising budgets to pick and choose which markets the franchise prospects will be calling from. Many rely solely on Internet Marketing; unfortunately 80% of such leads are not so good. On top of this obstacle they must compete with sales departm...
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- 2007-11-13 22:16:19 - Franchising companies need new franchisee checklists
- When franchise companies are moving fast in the market place they must pay attention to the details. If a franchisor fails to give the required items as outlined in the franchise agreement to the franchisees on the prescribed timeline they risk legal issues and regulatory issues. In addition even if they do provide the items on time, there is a chance later that a franchisee may claim that somethi...
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- 2007-11-13 22:16:19 - Message to prospective franchisees for franchisors
- Many franchise companies fail to send the proper message to their prospective franchisees. This is partly due to the over regulation and intensity of litigation in the industry. Smaller franchisors are generally hurt the most from these factors and consumer or buyers of their American Dream seem to feel slighted at a the impersonal approach. Many franchise company's sales departments walk a fine l...
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- 2007-11-13 22:16:19 - Franchisor sample grand opening launch for new franchised outlets
- It is paramount that all franchising companies work hard in the critical launching of all franchises in their new territories. In this present period most franchisees come into the franchise systems with much personal debt and barely squeak by on their initial capital needed. One major error or mistake and the franchisee will fail due to under capitalization. Below it a sample outline and message ...
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- 2007-11-13 22:16:19 - Mobile car washing long term opportunities in the market
- The long-term outlook for the Mobile Car Washing industry is positive. It is ripe for savvy company to develop regionally or nationally to dominate the market. Currently in the mobile car wash industry there is no well-known companies as is the case with other service businesses such as Domino's Pizza, Midas Muffler, Thrifty Rent-A-Car, and Jiffy Lube. These companies will be able to develop reven...
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- 2007-11-13 22:16:19 - Designing a comprehensive franchise company computer system
- One of the most important management tools a franchised company needs is a great computer system. The system must integrate with all the franchised outlets and also be able to interface with the Corporate HQ computer system. There are many companies which have already set up specialty IT systems for franchisors, but much of an off the shelf system will need modification. Be sure when talking with ...
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- 2007-11-13 22:16:19 - Enterprising route is to go your own way
- DON'T talk to me about education for entrepreneurs. They're pouring far too much public money into it already - not counting the millions some well-known Scottish entrepreneurs are prepared to waste on it.And all because far too few of our youngsters these days are prepared to attend the University of Life. They would rather "go to college", where they experience a soft-centred existence an...
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- 2007-11-13 22:16:19 - Face the fear, ladies
- Okay, I'll begin by telling you that I've been divorced for about 5 years, have an amazing family and by anyone's standards, I have a wonderful life.I worked in the film industry for almost 9 years for my ex-husband's company. But when we split, I had the dire task of figuring out just what else I was supposed to do, having worked in that industry for his company for the duration of our rel...
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- 2007-11-13 22:16:19 - New rules
- Last week I was working with one of my small business clients, a bright and dynamic woman who's passionate about positioning her artisan business for growth. We were talking about her financial picture and forecasting robust sales over the next three years.As I coached her, she expressed excitement and eagerness to see her dreams turn into reality, yet somewhere, just below the surface, I s...
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- 2007-11-13 22:16:19 - How to start a franchise
- Franchising InformationFranchise oppotunities are all around us today. You may pop into Starbucks for coffee and then head for lunch at MacDonalds before returning home and ordering your dinner from another local franchise, Pizza Hut. Many of the most popular outlets you visit may be franchises as they offer the security of a brand name and the attraction of starting your own business....
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- 2007-11-13 22:16:19 - Are you an entrepreneur?
- With all the buzz about everybody being an entrepreneur these days wouldn't it be nice if you could really find out if you have what it takes?Sure it would.The following profile was adopted over a period of several years of research from successful entrepreneurs worldwide to assist would-be entrepreneurs determine if they have the traits to undertake a new venture.Can we descr...
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- 2007-11-13 22:16:19 - The perfect little coffee shop: are you afraid of failure? are you letting that failure cripple you
- Ah, coffee, the drink of choice when I want to share a special moment with friends, when I want to sit and ponder life or when I want a moment alone. I am an avid coffee drinker. I love coffee and I love the atmosphere of a good coffee house, a café.And, even if I buy take out coffee, which I do frequently, I like to get my coffee from one of these special cafes.I of...
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- 2007-11-13 22:16:19 - Why most ceos & entrepreneurs fail?
- Times are tough. The economy is in a constant state of upheaval. Is your company doing better than most? Are you placing greater emphasis on pure performance?If you haven't maybe it's time for a serious round of intense corporate soul searching. But do you know how?Business consultant Chet Holmes says that beyond pure financial performance, most companies can really benefit from find...
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- 2007-11-13 22:16:19 - Go slow to go fast - why over 80% of high tech startups fail and what to do about it
- With billions of dollars of venture capital residing down the street on Sand Hill Road, two Stanford professors are attempting to answer a fundamental question "why does it always take longer and cost more to build a hi-tech company than anyone ever expects?" For all the intellect, experience and graduate degrees in the venture capital industry, the sad truth is that 80% of venture capit...
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- 2007-11-13 22:16:19 - Six steps to guarantee your business success
- Many of us slave away for years for one uninspiring company after another and dream of the day when we can sack the boss and go it alone.If you're contemplating starting your own business then I'm here cheering you on from the sidelines because the best decision I ever made was to walk away from my well paid but oh so frustratingly boring job and start my own business from scratch.I'...
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- 2007-11-13 22:16:19 - The use of common stock in venture capital transactions
- When raising capital for a business venture, a company can either raise debt capital, equity capital or a combination of the two. Debt capital is money loaned to the company at an agreed interest rate for a fixed time period. Conversely, equity capital is money invested by owners (shareholders) for use in business operations that need not be repaid. Combinations include convertible securities whic...
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- 2007-11-13 22:16:19 - Territory limitations policies for franchised companies
- All franchised companies must have Territory Limitations to maintain the peace within their systems. Often the unspoken ethics of territory limitations are blurred with mobile, home based or online franchise companies. Territory limitations in fixed site franchises are fairly cut and dry. There is your store, no other stores will be placed in the surrounding area delineated on this map within your...
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- 2007-11-13 22:16:19 - Do you want to just survive or thrive? (part 1)
- You've probably heard this, or maybe you will relate to this personally. Have you ever arrived somewhere and wondered, "How did I get here?" or "Why am I here?"Have you ever wondered if you've missed the boat (with your family on it)?Life is a battle that must be fought if there is to be a favorable outcome for you, as well as those around you that count the most....
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- 2007-11-13 22:16:19 - 5?4?3? 2...1?
- A streak dating back more than three decades came to an end at midnight on New Year's Eve. For the first time since 1972, as America rang in 2005, "America's Oldest Living Teenager" was not in Times Square to count down the dropping of the giant ball. The 75-year-old host of ABC's "New Year's Rockin' Eve" was in the hospital, recuperating from a stroke suffered a few weeks earl...
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- 2007-11-13 22:16:19 - The 7 major reasons businesses fail and how to overcome them
- This year, over 800,000 of the approximately 2,000,000 start up businesses will fail!Nearly 1,000,000 of those remaining will fail within 3 years. Why do so many businesses fail? Many studies show that approximately 98% of all failures occur because of the owners. The other 2% are a result of acts of God. Here are the key reasons and actions owners can take to avoid and overcome business fa...
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- 2007-11-13 22:16:19 - Documenting partnerships in your business plan
- Forging partnerships to improve market penetration has become commonplace, particularly for "new economy" businesses. And, most companies proudly mention their many partnerships in their business plans.The fact is that, regardless of whom the partnership is with, partnerships by themselves are meaningless. What are meaningful are the terms of the partnership. For instance, while i...
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- 2007-11-13 22:16:19 - Entrepreneurial business plan the down and dirty way
- Does the idea of running your own business sound exciting? Do you have a business up and running and want to take it to the next level?After coaching hundreds of entrepreneurs at various stages of their evolution, I've found that the answers to these 5 questions can make or break any endeavor. Of course there are lots of other areas that must be addressed, however these will get you moving ...
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- 2007-11-13 22:16:19 - How a woman became a successful bill collector in a mans industry and how you can too!
- I have worked in the credit industry for over 17 years now. When I first started out, I only knew a very few women in the industry. That number has grown over the years, but not by much. Being a bill collector has always been categorized as a "man's industry".When I was a Credit Manager for other companies I worked for, I always did a good job, and collected more money than any ot...
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- 2007-11-13 22:16:19 - The term sheet?s role in raising venture capital
- Entrepreneurs and companies who are seeking venture capital often negotiate with one or more venture capital firms on a number of important issues. These issues include the amount of capital to be raised, the investment terms, etc. The document which summarizes these terms is known as a "term sheet."The term sheet is similar to a letter of intent, that is, it is a nonbinding summary of the ...
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- 2007-11-13 22:16:19 - Pre-money vs. post-money valuation
- When a company decides that it must raise capital, a key question that must be answered is how much the company is worth. For example, if the business needs $500,000 to get started and/or grow, how much of the equity in that company should $500,000 command? Once this question is answered, the company will go out and try to find investors. When doing so, a key question often arises as to whether th...
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