Franchise Update Media
Franchise Update Media Digital
Publications
Conferences Education Videos Subscribe
Advertise

RSS Subscribe
Best Practices

Feature Story:

Giving Credit: 4 More Reasons Franchise Owners Should Explore Prepaid Expense Cards »

By Toffer Grant

Corporate prepaid credit and debit cards offer a new approach to managing day-to-day employee spending that, until now, was available only to the largest corporations. Unlike standard business credit cards, a prepaid expense card ensures employees never have direct access to the company’s business credit line. Employers no longer need to worry about exceeding credit limits or getting hit with late fees or interest charges.
Franchisees across a wide variety of industries across the globe are implementing prepaid expense cards to streamline their business expenses. Here are four more reasons to consider a corporate prepaid expense card program for franchise businesses.

1. Prepaid expense cards are less limiting than credit cards...

Feature Story:

Employee Credit: 4 Reasons Franchisees Should Explore Prepaid Expense Cards »

By Toffer Grant

As a franchise owner, your employees are likely making purchases on behalf of you and your business, which can conflict with the strong need you have to control expenses and limit risk. The dilemma here is that many franchise owners are uncomfortable handing over a business credit card to their employees.
Your comfort level when it comes to providing spend authority can be managed based on the type of tool selections you select. However, most options on the market for expense management are credit-based. These require a personal credit guarantee by the business owner to accept the responsibility of the debt if your company cannot pay. It's a big decision.
Companies with workers on the road now have a game-changing option: corporate prepaid expense cards...

Feature Story:

Wasted Time: 12 Reasons Why Employee Training Fails »

By John Tschohl

Most of the money and time companies spend on training is wasted. That's because the majority of companies use outdated training ideas and boring training methods.
Training that is poorly presented goes in one ear and out the other. It's no wonder employees don't change their attitudes or behaviors after they attend a badly presented training session.
After working in the training field for more than 40 years on six continents, I've seen 12 reasons why group training fails:

Feature Story:

10 Rules For Managing Franchisee Innovation »

By Jacob Grosshandler

Develop a System-Wide Vetting Process

Who is responsible for innovation? For many franchise concepts, innovation is the sole domain of the franchisor as it safeguards the brand's equity: "Do only things that I say, and do them exactly as the operations manual specifies."
Franchisor-led product innovation is most prominently seen in food-related brands in the form of the centralized test kitchen. However, franchisor-led product innovation often leaves an invaluable resource untapped: the franchisee. Think McDonald's Filet-O-Fish, invented in 1962 by franchisee Lou Groen to make up for slow Friday burger sales.
Also, despite the positives provided by franchisor-led product innovation, a brand runs the risk of becoming entrenched in its own singular manner of thinking--a competitive threat in the face of ever-changing consumer tastes...

Feature Story:

Customer Differentiator: The Key To A Successful Customer-Focused Culture »

By Lisa Ford

Customers want a consistent service experience. It seems like that would be easy to deliver yet it is not the norm. Since it is not the norm, consistency becomes a customer differentiator. Check how well you deliver consistency with these strategies.

1. Be reliable. Get it right the first time. Whatever the customer needs, they want you to be reliable and accurate. Customers don't want to deal with an organization multiple times due to your shortcomings. Deliver what you promise.

2. No surprises - unless they are positive ones. Most surprises are ones where the company does not deliver as promised. Surprises can include interactions with challenging employees, lack of follow-up, and slow responses to social media communication...

Feature Story:

Extreme Mentoring: Don't Hesitate To Give The Gift To Someone Else »

By Steve Farber

What if you could give someone a really special gift that would cost you no money at all? And what if that no-cost gift could significantly change another's life? Well, you could and it will.
You can give yourself as a "gift" to someone you love, believe in, or admire by taking that person on as your Greater Than Yourself (GTY) Project. Think of the Greater Than Yourself approach as Extreme Mentoring, if you will.
I'd highly encourage you extend yourself in this deeply meaningful way. I think you'll notice all kinds of payoff. And to help you make this relationship official (whether or not you already have a GTY Project), we've created this gift certificate for you to use.
Please read the following text from the certificate...

Feature Story:

Preparing For Departure: Experts Share 3 Crucial Planning Steps For Leaving The Business You Built »

Multi-Unit Franchisee

More and more small business owners are selling their companies, with sales hitting a four-year high in early 2013 in the United States, and Canada predicting its largest small business turnover ever in the next five years.
"Many of our CEOs are baby boomers approaching retirement age," says Kathleen Richardson-Mauro, co-author with Jane M. Johnson of a practical new guide, "Cashing Out of Your Business," (www.richardsonmauroandjohnson.com).
"We're about to see a tsunami of ownership transitions and Kathleen and I worry that too many of these small business owners are not taking steps early enough to plan for it," adds Johnson.
Richardson-Mauro, a Certified Financial Planner, and Johnson, a Certified Public Accountant, specialize in helping business owners successfully transition out of companies and achieve their goals...

Feature Story:

Technology Backlash: Good Old-Fashioned Personal Touch Can Bring Business Success »

Multi-Unit Franchisee

Hello? Is anybody there?
One of the biggest problems sales people face with social media and technology is the lack of real, meaningful contact and communication.  Sure, it's quick and easy. But when it comes to closing deals, does it really produce the results you need? These lessons can also apply to franchisees and their employees.
Joanne S. Black, author of the new book Pick Up the Damn Phone! How People, Not Technology, Seal the Deal, is on a mission to help people learn the importance of personal contact.  Her manifesto is simple - to make a real connection and achieve true, meaningful communication, you have to make a personal and even in-person contact. Her goal is to get people to tweet less and talk more to the customers and contacts who really matter...

Feature Story:

Relying On Protection »

Multi-Unit Franchisee

Three "players" you need on your business' offensive line

Peyton Manning just completed his most productive season ever as a pro. If anyone is surprised by that, they shouldn't be. According to ESPN, what many fail to realize is that statistically the Denver Broncos have the number one offensive line in football. The fact that Manning was rarely sacked last year and was sacked less than anyone else in the league contributed greatly to his banner year. If you're a business owner who wants Super Bowl-level success for your business, says Sean Castrina, you should put together an offensive line that can provide your business the same level of protection.
"Offensive linemen are paid to protect their quarterback," says Castrina, author of 8 Unbreakable Rules for Business Start-Up Success...

Feature Story:

No-Fear Feedback »

By Dr. Tasha Eurich

It’s a give and get strategy that can reap great rewards

Because most of us dread being called out for mistakes or weaknesses, leaders who hope to give honest feedback run the risk of angering employees and decreasing their productivity if it isn’t delivered correctly. This explains research findings revealing a negative relationship between feedback and employee engagement—it’s often given ineffectively. In one study, researchers analyzed more than six hundred studies of performance evaluations.* Their results were astonishing. In 30 percent of cases, performance reviews made performance worse. I’ll pause for a moment so you can read that again. The authors suggest that as feedback feels more and more personal (and less about behaviors or tasks), it becomes less and less helpful in driving improvement...

Feature Story:

Aim High: Achieving A Great Reputation Requires High Standards »

By Jim Cathcart

When you drive up to Disneyland the message is clear: "The Happiest Place On Earth."
That not only announces their intention, it also defines their performance standards. If what you are doing as a Disney employee (correction: "Cast Member") doesn't produce happiness, then you need to reconsider how you are doing it. They hire people who will keep the place happy, manage to the measures that have been shown to produce happiness, and discharge people who do not fit their culture. Consequently, they are the happiest place on earth.
FedEx tells us up front that we should choose them when "it absolutely, positively has to be there overnight." So timely delivery is built into their policy manual, their training, their hiring practices, and the metrics they track each hour of each day...

Feature Story:

Franchising For Veterans »

Multi-Unit Franchisee

Four questions military veterans should consider asking
More than 5,000 veterans and military spouses have become franchise business owners in the past two years, according to the International Franchise Association. In addition, the IFA reports that about one million veterans will be returning from Iraq and Afghanistan over the next three to four years and returning to the workforce.
One brand, Maid Simple House Cleaning - the home-based cleaning franchise from Maid Brigade - asked its veteran franchisees to reveal what makes them successful franchise owners. And the four questions veterans should answer before making the move to franchising.
1. Am I a natural leader?
Running a successful business requires hard work, dedication, and superior leadership skills...

Feature Story:

Favor The Customer: Allow Empowered Employees To Create Profits »

Multi-Unit Franchisee

Companies can make more money when they empower employees to make decisions that create over-happy customers, says John Tschohl, president of Service Quality Institute.
"Employee empowerment is defined as allowing employees to make fast decisions - on the spot - in favor of the customer. Empowerment is the single most difficult skill to get employees to utilize. That's a problem for businesses and government because if you don't have empowered employees, you will never be a service leader," says Tschohl, who is the author of Empowerment: A Way of Life.
"It is critically important for businesses to give employees the power to make decisions on the spot because one policy can't cover everything. There are too many weird things that happen every day...

Feature Story:

Need For Speed: Customer Service Must Be Delivered Quickly »

By John Tschohl

Need For Speed: Customer Service Must Be Delivered Quickly

By John Tschohl

Among the many tools and tactics companies can use to improve the customer experience, speed is the most overlooked. That's unfortunate because a major factor in creating a positive customer experience is speed. There are three major obstacles to improving the customer experience through speed:

Feature Story:

Engaged For Success: Creating Real Employee Engagement From The Ground Up »

Multi-Unit Franchisee

These days we hear plenty about employee engagement. We know disengaged employees are bad for business. We know an office full of innovative, collaborative employees who feel like "owners" is the key to surviving a brutal marketplace. We may even know the statistics like Human Capital Institute's revelations that companies with highly engaged employees enjoy profit growth at three times the rate of their competitors, and that increased engagement reduces turnover--one of the largest hidden costs in business--by 87 percent.
So, yes: We know. Why then is it so incredibly tough to move beyond the "buzzword" phase and truly transform enthusiasm fakers, paycheck collectors, and clock watchers into employees who truly feel like they have a stake in your company's success?
"Frankly, it's because in many cases employees really don't have a stake," says Michael Houlihan, coauthor along with Bonnie Harvey of The Barefoot Spirit: How Hardship, Hustle, and Heart Built America's #1 Wine Brand...

Feature Story:

Can Money Buy Happiness?: 3 Tips For Changing Your Attitude Towards Wealth  »

By Doug Vermeeren

Although we live in the richest and most advanced society the world has ever known, many of us say we need more money in order to be happy, notes best-selling author Doug Vermeeren.
"Even some of those in the top percentile of earners often feel like they don't have enough money," says Vermeeren, an international speaker who consults with celebrities, business executives, and professional athletes.
"The math is simple: More money does not equal more happiness. It's our attitude toward money, not the amount, that influences our happiness the most."
Happiness researchers Elizabeth Dunn and Michael Norton, professors at the Harvard Business School, recently published research indicating that it's not money that makes people happy, nor the things people buy with it...

Feature Story:

Twitter Makes Changes »

By Marsha Friedman

Social Media Strategist Shares Pros and Cons of 4 New Measures

A couple of months ago, our lead social media strategist at EMSI Public Relations started noticing interesting changes involving the Twitter accounts we manage for clients. Tools were suddenly disabled. Twitter's technical support, which hadn't been good, improved.
So when news broke in late September that Twitter had already formally taken steps toward going public back in mid-July, Jeni Hinojosa, a social media strategist at EMSI, wasn't surprised.
"The changes appear designed to make Twitter more appealing to investors when the initial public offering is finally made," Hinojosa says. "In some ways, they're also improving the experience for users. But in other ways, some users will be disappointed...

Feature Story:

Dominate Your Competitors: Focus On A Customer Service Strategy »

By John Tschohl

If your company thinks "customer service" is limited to greeting a customer and dealing with their complaints, you're missing the big picture - and tremendous profits.
The reason most companies are weak on customer service is because they don't understand the financial impact a strategic customer service plan can have on the bottom line.
Make no mistake about it: The customer experience is the one true way you can dominate the market, crush your competitors, and have money flow from the sky. It is the only strategic weapon that cannot be copied - and you'll have a 10-year lead time before your competitors figure out how to duplicate your success.
For example, many companies overlook customer service and take the easy way out...

Feature Story:

Building Success: Business Lessons From A Small Business CEO »

By Marsha Friedman

I found a fascinating website while trolling around the Internet recently. It's called Statistic Brain (www.statisticbrain.com) and it has data and rankings on all kinds of topics, from hair loss to consumer spending.
The numbers that caught my eye had to do with start-up business failures. Did you know 25 percent of start-ups strike out within the first year? Thirty-six go down in the second, and 44 percent in the third. Nearly three-quarters of businesses that start in one year will be shuttered 10 years later.
Why? "Incompetence" is the No. 1 reason, according to Statistic Brain. My fun new website cites specific pitfalls including "living too high for the business," "lack of planning" and - this one's a doozy - "non-payment of taxes!"
All those numbers made me want to pat myself on the back...

Feature Story:

Failing To Lead: Avoid These 3 Leadership Myths »

By Erick Lauber, Ph.D.

Bradley was failing, and failing badly.
Not only did the members of his team avoid him in the lunchroom and never stop by to say “good morning,” they had begun taping a target to his back every day and everyone had signed up for archery lessons. Bradley’s leadership style just wasn’t working.
Unfortunately, Bradley’s core problem was that he suffered from several leadership myths he’d picked up from pop culture. Like many of us, he didn’t have any formal training in leadership so his beliefs came mostly from watching movies. Leadership to Bradley was square-jawed men taking on insurmountable odds, rallying the troops with award-winning speeches, and humbly waiting for passionate kisses from pretty co-stars. Bradley thought he was prepared to be a great leader because though he didn’t have a square jaw and no one had tried to kiss him in years, he had been practicing his motivational speeches in the mirror...



Hot Opportunities

Archadeck Franchise Opportunity

Archadeck
Archadeck is proud to be North America's leading designer and builder of...

Request Information
Doc Popcorn Franchise Opportunity

Doc Popcorn
Doc Popcorn is revolutionizing the way people snack in high-traffic...

Add
Minuteman Press International Franchise Opportunity

Minuteman Press International
Minuteman Press has been the leader in the printing & graphics...

Add
Jimmy John's Gourmet Sandwich Shops Franchise Opportunity

Jimmy John's Gourmet Sandwich Shops
Jimmy John's franchise success is built upon an unyielding commitment to...

Add
Bricks 4 Kidz Franchise Opportunity

Bricks 4 Kidz
Bricks 4 Kidz provides project-based programs designed to teach principles...

Add
Oxi Fresh Franchise Opportunity

Oxi Fresh
OXI FRESH is a GREEN Carpet Cleaning Franchise and one of Entrepreneur's...

Add
Pet Supplies Plus Franchise Opportunity

Pet Supplies Plus
With over twenty-five years of successful retail franchise experience and...

Add
Papa Murphy's Take 'N' Bake Pizza Franchise Opportunity

Papa Murphy's Take 'N' Bake Pizza
The world's largest, fastest growing Take 'N' Bake pizza franchise is...

Add

The Franchise Buzz:


A Franchise Update Media Group Production Franchise Update Media Group | P.O. Box 20547 // San Jose, CA 95160 // PH. (408) 402-5681
Copyright © 2001 - 2014. All Rights Reserved. Site Hosting Provided By: wishVPS on FUMG3
0
Your Request List:
No Opportunities Saved