GlobalBX Entrepreneur Business Articles - February 2009

Franchisee Questions For Buying A Franchise

Franchise opportunities are plentiful these days because many large and small companies alike have recognized the major benefits that are associated with franchising. There is no better way to expand and spread the brand availability throughout the world today than via franchisees. However, before any budding businessperson decides upon buying a franchise it is necessary to ask several questions. After all, if you are making a major investment in a franchise then you are also making an investment in your future and you need to be absolutely sure of your suitability beforehand.

Why Ask Franchisee Questions?

Franchisee questions are absolutely essential in not only giving yourself peace of mind regarding your investment initially but also to ensure your ongoing happiness and success in your venture. Buying a franchise is a major life choice and not just a business you can play with to suit yourself, so it is important for franchisees to fully understand what is involved.

There are many common questions that franchisees should ask and those that have failed after buying a franchise neglected to ask in advance. All questions should be asked of any venture and not just franchises that are offered by global chains.

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How to Buy an Internet Service Provider Business

Finding an internet service provider for sale can be challenging.  You will find that the majority of people are reluctant to change internet service providers.  Before you buy an internet service provider, it is important to make sure that the current market trends will support the business.  If you find an internet service provider for sale, it could be because there simply were not enough customers for the business.

Technological Background
In order to operate an internet service provider business, you absolutely have to have a technical background.  You need to know the ins and outs of programming, ISP connections, networking, databases and other aspects of computer technology.  Without this knowledge you will be completely lost and unable to handle tasks without doing 100 percent outsourcing which would cost a fortune.

FCC Regulations
In order to be an internet service provider you need to comply with FCC regulations.  Additionally, there are regulations for different states and even government regulations for this type of business.  Being familiar with all the various regulations will save you from sinking your hard earned money into an investment that you might not even be able to operate.

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Achieving Extraordinary Results: It’s Just a Skill

When you look at all the “superstars” our heroes, the people we emulate we tend to think they are endowed with Super Powers.  They are able to achieve fame, success, fortune due to abilities beyond those that we have been given.  They are simply blessed. 

However, that isn’t the case.  The people who achieve extraordinary results have simply learned how to use a series of skills to achieve their goals. 

Regardless of how vastly different their goals are, they all use basically the same skills.

The wonderful thing about this fact is that if it is just a skill – skills can be learned.  So you and I can Achieve Extraordinary Results, because, it’s just a skill!

In this program I break down the basic skills for goal setting and achievement into 7 tools and 7 rules.

Achieving Extraordinary Results is simple, but not easy.  It seems to me there are three reasons why this is the case for most of us.

First, we live in a society that gives us far too many options.  When we run into resistance we can simply move to something else. We lose sight of the objective.   It is easy to quit without penalty or consequence. 

Second, we have become lazy.  Everyone wants to stand on the platform and receive the gold medal, but few want to actually work for it.  We want the rewards without the work.  Since most of us can get that to some degree, we don’t push ourselves to goal achievement. 

Thirdly, and most importantly,  we really don’t know how to Achieve Extraordinary Results, it is not taught - until now. 

The most important skill that we are missing is the first of the 7 tools and that is how to actually set an achievable Goal. 

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Discover the Secrets of SEO

There is so much information floating around out there about Search Engine Optimization (SEO) and how to get some rankings.  So much of it is contradictory and confusing.   I wanted to spend a little bit of time talking about the secrets of top rankings. 

So, let’s jump right in with the secrets to SEO success…

Search Engine Secret # 1: There are no secrets!  The search engines make it all very public and clear what you need to do to get top rankings.  The success lies in the details and proper implementation.  But there is no top secret, proprietary technique for getting top rankings.

OK, so now we all know there are no secrets, but that doesn’t mean there isn’t information you need to know, such as:

If you don’t optimize your site, you won’t get top rankings.  It really is that plain and simple.  If the engines can’t spider your site and you don’t have links and strong content, you don’t stand a chance against the sites that do have all that in place.  So many people don’t want to spend money on SEO, or are afraid to take the plunge but then they can’t understand why they don’t have rankings.  So maybe there is a secret – maybe the secret is take action and get your site optimized!

Your site structure matters!  I can’t tell you how often people have said to me “I know my site is a mess, but I don’t want to spend the money fixing it, so can’t you just throw up some keywords and Meta tags and get me some rankings?”   Ummmm, no, I can’t.  Your site structure is your foundation.  You would never build a house without a solid foundation, why would you build an SEO campaign without a solid foundation? 

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15 Critical Leadership Traits Needed Today

In today’s tough business climate, managers and executives are becoming obsolete and are being replaced by leaders. The new manager/executive must be an expeditor and leader rather than an order giver and manager of people.

In this article, I have documented what I have found to be the leadership skills and abilities that are valued in leaders today. If you are looking to build a high performance team or company, these are the leadership traits that you and your managers should be focused on to improve personal and business performance.

1. Vision

Leaders have the ability to see things as they should become. Defining the organization’s direction, the leader defines the organization’s future.

2. Communication

Leaders are able to get others to share in their vision. They communicate in a clear and powerful way. Whether in large meetings or personal discussions, they never miss an opportunity to pass along their message.

3. Flexibility

Leaders are willing to learn. Leaders will be committed to furthering their own knowledge as well as making sure others keep up with the demand for a better educated workforce.

4. Action Oriented

Leaders know that it is not enough just to gather up the good ideas of others. When new ways of doing things can be implemented, putting them into action will fall on the shoulders of the entire team.

5. Bottom Line Thinker

Leaders know the financial conditions and limitations of the organization. Once they have the same information as senior executives, it is expected that they will reach the same decisions.

6. Builds Rapport

Leaders let the person or group know they understand their viewpoint, whether they agree or not.

7.

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Company, Product Communications…Open Up, Loosen Up

“Lead, follow, or get out of the way.” - Thomas Paine

In theory corporate policy is to encourage creative thinking, initiative and growth. 

Their communications policy is to quickly and accurately support all of the audiences. 

Firms constantly seek new ways to efficiently and effectively accomplish that goal…as long as it follows corporate policy and conventional wisdom.

Conventional wisdom says:

1. Public relations should be the sole spokesperson for the company

The more mature the company, the more mature the PR policy.  Unlike business processes and procedures as well as product lines that are constantly evaluated regarding their value to the company and the consumer, PR policy is seldom scrutinized.  Few organizations seriously look closely to see if old efforts, measures and controls make sense in today’s environment.  Hence releases and clippings are the key measurement.

Many monolithic firms have a clear policy that conceals marketing, product and engineering management from the press.  Policy dictates that all queries must be centrally managed, filtered and controlled.  

In an era of global communications, some still focus on attempting to manage, even manipulate news coverage.

In this scenario the probing press-type explains the problem, question, issue to the PR person.  He or she will interpret it to one or more of the internal contacts.  They will then filter the query to someone else who will provide an answer (or partial answer).  This will be passed to the PR person who will then provide the information to the member of the media. 

If only part of the answer is provided, if it stimulates an added question or if clarification is needed; the cycle begins again. 

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Business Planning for the Entreprenuer

Writing a business should be the first step before you start your business. Reducing your ideas to writing will greatly assist you along the way as you develop and mature your thoughts and decision making. It is often in the process of writing the plan itself that your vision is strengthened and galvanized into you mission statement and direction. Though a business plan, in order to be effective, needs to be a working and actionable document updateable at least on an annual basis and more often if situations warrant. A good business plan will contain the below components which are essential to the overall plan’s depth and ultimate success:
 

Cash Forecasts. Perhaps the biggest failing of entrepreneurs and business owners alike is their failure to carefully contemplate and plan for amount of cash that will be needed to adequately fund the business’s growth and day-to-day operations. It has been often said, “tongue in cheek,”  that one should carefully evaluate and plan for the cash flow that will be needed to run a business and then they should double it Often owners will spend cash without thinking ahead or re-forecasting for the next months and years only to find, if they had a “do-over” that they would have been more prudent with their spending. Developing a systematic and cautious methodology for spending that includes checks and balances, layers of approval, ample cushions and available credit are good defenses to ensure sound cash management practices. Great caution should be exercised to ensure that credit is only used when needed and not when convenient, when there is adequate investment in the expenditure/project by the company, and when there is a sound, reliable and predictable basis for repayment.
 

Budgets.

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Four Time Tested Tips to Business Economic Survival

These time tested techniques will do much to enlighten you to discover “hidden information” and relevant data as you prepare your 2008 Year-End Income Tax Returns. Whether you are a C Corporation, S Corporation, in Ministry, an LLC or LLP, Partnership or proprietorship looking beyond the numbers is the best way to discover critical and insightful news to help make wise and informed financial and business decisions. Whether you have a CPA prepare the return for your business or you chose to “go it alone” seeking out and utilizing this data will make you a wiser and more dutifully informed owner and entrepreneur. Evaluating and staying abreast of these key ratios, components and insights well help you steer clear of financial disaster:
 

Limit Debt Payments

We are continually exhorted to limit our debt payments but our society and now even our government has gotten on the band wagon of debt is good. In fact even the recent $15,000 “tax credit” announced by the IRS is not really a credit at all but a loan, as these monies will have to be ultimately repaid. By limiting your debt payments, you allow yourself to both have discretionary spending, to take advantage of opportunities, and to fulfill your mission statements and dreams. For the only way to have money, is not to spend it. A good general rule of thumb goes back to the old days of mortgage lending when debt could not exceed 25% of aggregate income and cash flow. In a bad economy a better goal would be 15% and when it is anticipated that interest rates are going to rise, then limiting your total debt payment to less than 10% would be prudent and advantageous. If we do not limit our debt then we will certainly become its slave.
 

Avoid Credit

If there is a key item on this list, it would be to avoid credit in its entirety.

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