The Corporate Puzzle

The 7 specific areas you need to consider in your franchise prototype process (Your Business):

• Primary Aim
• Strategic Objectives
• Organizational Strategy
• Management Strategy
• People Strategy
• Marketing Strategy
• Systems Strategy

These 7 areas will fine tune your plan for the ultimate level of success. In this lesson we are going to cover the first three.

Primary Aim

It’s essential in business development to set goals and see a vision for the future. This needs to go beyond the business and you need to think about what you want out of life. What do you dream about? How do you see your success unfolding? Knowing and understanding these things will give you the momentum to get started and the stamina to see it through. Even take a minute to write them down and tape to your desk for a constant reminder of what you’re aiming for.

Strategic Objectives

These are essential in taking your business from surviving to thriving. All of these objectives should offer solutions for how to get to your primary aim. There are many things you can use to set strategic objectives, but here are a couple of the most popular:

1. Money: Setting monetary goals is a great, simple way to see how you are doing at any point in the game. It’s easy to measure and easy to find adjustments to help meet this goal.
2. Worthy Opportunities: When considering partnerships and other business opportunities you need to think about whether or not they will help you reach your primary aim. Those that will are the best opportunities to seriously consider.

The key in setting standards and goals is not to limit you or stress yourself out. You need to find some quantifiable things you can use to measure your progress toward your primary aim. These are just two suggestions, but make sure no matter what you standards you set you are paying attention to the details, as these are one of the biggest keys to your success.

Organizational Strategy

The strength of your organizational structure can make or break your business, so it’s important to take the time to put together a solid structure for your business to grow from. Generally a company is organized around the roles and responsibilities that need to be taken care of on a daily basis and the personalities that need to fulfill those roles.

No matter what roles and responsibilities you’ve defined for your employees, you must always keep your personal primary aim separate from your company’s primary aim or mission statement. Once you’ve identified the primary aim for your company it will be easy to set up a position structure that will work.

Don’t forget to put together position contracts. Your employees should sign a statement of their roles and responsibilities. This helps keep them clear for you, the employee and other employees/vendors or other individuals.

You can see how these areas all work together to build a solid structure on which to build your business. If you need help defining any of these areas, you can check out the resources, tools and speak with one of our fantastic coaches during your FREE test drive. Or shoot me an email at info@BoostYourBusinessProfit.com and I will be in touch.

To Your Success,

Steven Rouget

Mortar Makes it Happen

Today I’d like to talk about the three keys to business development and how you can put the right bricks in place to build a solid foundation.

There are three main areas of business development:

• Innovation
• Quantification
• Orchestration

If done well these three areas will help you build a solid foundation for you business. Let’s talk about each one of these for just a minute.

Innovation

Innovation should not be confused with creativity, which is the expression of ideas. Innovation is taking these ideas and putting them into action. This is where a large amount of your focus should be in the beginning and even throughout your business’ entire lifespan.

Quantification

This, of course, refers to the numbers. We are talking about the value of your innovation. The best way to gauge this is by your customer response. Look to positive responses for what you are doing right-and keep doing it. Look to your negative responses to find out what you’re doing wrong-and fix it. This will enable you to keep growing and progressing with the needs of your customers and business climate.

Orchestration

Once you’ve had a chance to find what areas are working, you can narrow down those areas and concentrate on making them the stand out ideas. You shift your focus here to get the most out of your business and to meet the needs of your customers.

We can help you work through these three areas to put together your franchise prototype during your FREE test drive.

In the next few lessons we are going to transition to the 7 specific areas you need to consider in your franchise prototype process:

• Primary Aim
• Strategic Objectives
• Organizational Strategy
• Management Strategy
• People Strategy
• Marketing Strategy
• Systems Strategy

These 7 areas will fine turn your plan for the ultimate level of success.

To your Success,

Steven Rouget.

You Turn Me Right ‘Round Baby, Right ‘Round

The biggest area of turn-key businesses is franchises. There is franchise for ever industry in the world and they are fairly easy to acquire and come with practically a pop out of the box pre-assembled system. McDonald’s is a prime example. In fact, a $40 billion, 28,707 strong example.

There are a few things we are going to talk about:

• Business Format Franchise
• The Franchise Prototype
• Franchise Prototype Standards

Business Format Franchise

The business format franchise came from an earlier model call the “trade name” franchise. The big change was in the rights. During the “trade name” days the franchise owner only had marketing right’s, now franchise owners have owning rights to the entire business including systems. This has allowed for a shift in focus to go from the quality and name recognition of the products carrying the business to sales techniques that carry the business.

The Franchise Prototype

It was really the franchise prototypes that allowed for the changes to be made that help today’s franchises really shine with the techniques developed by the owners instead of the corporation. This can make a significant difference in the success of the franchise as the owner can custom tailor their marketing and promotions to the direct needs of their local target customers.

Franchise Prototype Standards

Now, the above being said, no one in their right mind would purchase a franchise if the parent company didn’t have a solid plan of action set up to ensure the prospective success of the business. So, there are a few standards that are put into place that helps jump start the process of opening a successful franchise.

Build model of prospective customers/clients, suppliers, creditors and employees who will consistently offer high quality work.

1. Build a user-friendly model that can be used by individuals of any skill set.
2. Build a defect-free model.
3. Build a model with Operations Manuals.
4. Build a model that will provide guaranteed, consistent results.
5. Build a model that encompasses the same branding in color, dress and facilities codes.

These are all ways the parent corporation makes sure their brand stays the same and in the front of the minds of customers. When you are purchasing a widely-known brand you will attract customers just for being you.

If you are considering purchasing a franchise, talk with one of our experienced business coaches during our FREE test drive.

To Your Success,

Steven Rouget

Gather the Troops!

First of all Merry Christmas from all of us here at BoostYourBusinessProfit.com  I hope you are all enjoying some family time in the coming days as we cruise toward the end of this year!

With the New year fast approaching I’d like to chat to you about the different types of support staff you need in every growing business and what makes them so important.

There are essentially three key roles that need to be filled to set your business up for success:

• The Technician
• The Manager
• The Entrepreneur

All of these roles need to be played simultaneously by different people with the right talents. It’s all about balance.

The Technician

This person represents the present and all that needs to be done for the physical aspects of the business building process. They are the “doer”. This is usually the most visible person of the entire operation.

The Manager

This person represents the past and works to fix problems through learning from past mistakes. They are the practical side of the business and is in charge of putting together the business and overseeing the planning.

The Entrepreneur

This person represents the future and the vision for the business. They are responsible for the creative side of the business and are always considering ways to enhance products/service, business image, branding and more.

All three of these characters are essential in the success of any business and to build a solid foundation from the start, you need to work harder to find the right people to put in these roles. Obviously, you need to be one of these key people, but ensure you find the role that fits your skills and talents, not necessarily what you THINK you should be doing.

This may be a hard process for you as you will need to relinquish some control over the business and instill trust in people to allow them to do their jobs.

Remember, our business coaches can help you through this entire process and teach you how to avoid falling victim to e-myths when you try our FREE test drive.

To your Success,

Steven Rouget

Are You Aiding & Abetting E-Myths?

We are going to embark upon a journey through the world of e-myths and debunk them to help you avoid falling into the e-myth trap.

First, let’s take a minute to talk about what an e-myth is. An entrepreneurial myth, or e-myth, is an assumption that anyone can succeed at business with:

• Desire
• Some capital
• Projected a targeted profit

This sounds great, but it just not realistic. Think of starting a business as a marathon. Sure, everyone starts out of the gate at record pace, but after a few miles people start slowing and some drop out entirely. Building a successful business takes stamina and agility.

The reality is that there are many different facets to a successful business and none of them can be ignored if you plan to find success.

Let’s take a minute to talk about entrepreneurial seizure. This defines the roller coaster of emotions that comes with starting, nurturing and the potential failure of a business.

The emotions that occur, in order, are:

• Exhilaration
• Exhaustion
• Despair
• Sense of self-loss

This is usually caused by the e-myths and assumptions we talked about. You can get your hopes so high on instant success that even the smallest lag and you are sent into an emotional tailspin. This is also brought on by the stark realization that you can’t do it all and will need help in the areas where you don’t have the knowledge. Now, faced with limited choices you may feel like you need to back out and hide, but don’t do this.

Use our FREE test drive to get the business coaching you need to avoid feeling overwhelmed and defeated.

To your Success,

Steven Rouget