How do you tell if a business idea is a bad one? Google does not want to tell you which business ideas during the time of COVID-19 are bad ideas. I tried to ask. It turned up 224 000 000 results in 0.32 seconds.
Are there times when you feel like your business is a treadmill – demanding hard work from you as you run your company but giving you the feeling that you are going nowhere?
If you’ve felt like this before, you are not alone – the entrepreneurial treadmill is a feeling that many business owners experience, and there are ways to solve this common business problem. Here are some tips for running your business without letting it run you: Continue reading “Avoiding the Business Treadmill”
It’s an old adage of business: your net worth is your network. No matter what industry you operate in, from finance to entertainment to manufacturing, the more clients you serve successfully the greater are your chances for growth and success. One fantastic way to expand your client network is through the proper use of referrals.
Many small business owners and self-employed entrepreneurs miss out on opportunities because they simply never ask for referrals. Sometimes we assume that our clients will naturally think of referring us simply because they are satisfied with the service we render, while at other times it may seem awkward or a little forward to ask for a referral.
In order to use referrals successfully as a tool for growing your business, you will need to know when and how to request them. Continue reading “Using Referrals to Grow Your Business”
Following our previous blog on how to assess a franchise opportunity, we now move to another important question: should you buy a franchise at all? As an investor you will need to put in a lot more hard work owning a franchise than would be required by any other asset, but the returns could also be excellent. If you are considering buying a franchise, answer the questions below and decide whether this is a good investment for you.
Are you a hands-on person?
Unlike a policy that you can essentially buy and forget about, or a property that requires occasional maintenance and monthly rent collection that can be handled by an agent, a franchise is a business that needs to be managed. If you enjoy managing people and processes, and aren’t afraid of hard work you may be well suited to owning a franchise. Continue reading “Will You Make a Good Franchise Owner?”