The Basics of Franchise Accounting

Strategy Driven

Owning a franchise is an easy and affordable way of starting a new business. As a franchise owner, a lot of the heavy lifting involved in starting a business is already done for you. Many aspects of a franchise business will be managed centrally. How do Franchises Work?

Building Residual Income By Franchising Your Business

Strategy Driven

Franchising is a the ultimate definition of scale where a business owner removes themselves completely from operational responsibilities in order to become a coach to others who wish to enter the world of entrepreneurship.

How to Decide if a Franchise is Right for You

Strategy Driven

Many entrepreneurs wish to start a business based on an idea they have that they believe fills a gap in the market – or creates a new market. This is where franchises come in. The first thing that might spring to mind is the initial investment required for a franchise.

Start-ups, Franchises, Venture Capitalists Oh My!

Women on Business

Eric Koester, Zaarly’s co-founder and chief marketing officer, provides great tips to any new start-ups in the early stages. Create a street/dream team to create buzz for your product or service before the launch. Top 100 Franchises.

The 2 Most Undervalued Factors in Social Marketing

In the CEO Afterlife

Let me explain – any marketer can play the social media game and do it well with a concept that resonates. Herein lies the myth of social media marketing. Some people think that’s enough to build brand franchises. A message from a marketer doesn’t have to mean that at all.

The Big Picture of Business – Community Relations and Cause Related Marketing Are Business Strategies, Not Sales Promotions: Determining the Right Kind of Tie-In Causes.

Strategy Driven

I recently stopped for lunch at a franchise restaurant. I support cause related marketing and have advised many corporations on setting up such programs. I went to their website, where franchise chains allege they want customer comments. The franchise owner later called.

What Connects Coca-Cola, Lego, In-N-Out, Intuit, and Nike? Focus.

In the CEO Afterlife

This can mean expanding product lines, entering new markets and geographies, line extending brands, acquiring new businesses, creating projects, and adding layers of management to manage the self-created complexity. They’ve never franchised.

Using Experiments to Launch New Products

Harvard Business Review

One simple and often overlooked way for larger companies to experiment is to randomize the introduction of new products across a set of markets. As a result, Uber was able confidently to introduce Express Pool to many of its major markets. Martyn Goddard/Getty Images.

Marketing to Rural China

Harvard Business Review

Brimming with confidence after their recent success in China's biggest cities such as Beijing and Shanghai, both foreign and local marketers have expanded into many smaller cities across the country. This market was estimated at around RMB 2.9 It's not difficult to guess what's holding marketers back. One, companies should use franchising to scale up quickly. Its products often account for as much as 50-70% of a store's sales. China Marketing

How Customers Come to Think of a Product as an Extension of Themselves

Harvard Business Review

That’s when consumers feel so invested in a product that it becomes an extension of themselves. Companies that encourage psychological ownership can entice customers to buy more products, at higher prices, and even to willingly promote those products among their friends.

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My Best Blogs of 2011

In the CEO Afterlife

I began blogging about leadership, strategy, marketing and life last February. My fascination isn’t my productivity; rather, it is the source of the idea. You’re Not a Real Marketer until You Create a Brand [link]. Brand Managers inherit brands and manage existing franchises. Branding Human Resources Leadership Life Marketing Strategy blogs Business Crisis ManagementFrankly, I wasn’t sure whether I could maintain the pace of one blog per week.

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The Ten Commandments of Business Success

Women on Business

She was long dead when I first discovered Martha Matilda Harper and her amazing feat of launching modern franchising even though she had been a servant for nearly a quarter of a century. History buried its memory of the 500+ franchises she sprouted and staffed with other poor women. For Harper, it was deciding to franchise her business as a practical way to expand, when she could not get working capital, plus be assured of an ownership base that would strictly follow her dictates.

Excellence

Six Disciplines

This is the type of excellence that wins product reviews and is featured in advertisements and promotional material. We can learn much about achieving excellence—not only for our customers, but for ourselves—by taking a lesson from franchises. The franchising concept has been wildly successful over the past 40 years. The appeal of a franchise is rooted in two promises. Excellence, like beauty, is in the eye of the beholder.

Excellence

Six Disciplines

This is the type of excellence that wins product reviews and is featured in advertisements and promotional material. We can learn much about achieving excellence—not only for our customers, but for ourselves—by taking a lesson from franchises. The franchising concept has been wildly successful over the past 40 years. The appeal of a franchise is rooted in two promises. Excellence, like beauty, is in the eye of the beholder.

How Marketers Can Start Integrating AI in Their Work

Harvard Business Review

The marketing industry will be no exception. AI holds great promise for making marketing more intelligent, efficient, consumer-friendly, and, ultimately, more effective. Data-Driven Marketing. Interestingly, in many cases, the sophistication of AI technologies has already advanced further and faster than most marketers’ ability to actually make use of them. But first, what are some examples of how AI can help make marketing more effective?

Social Media Is Too Important to Be Left to the Marketing Department

Harvard Business Review

Some companies increase their social media staff to offer live responses during big events like the Super Bowl or the Grammys, but then they return to predominately one-way social media or content marketing. Previously, the marketing department had controlled social media accounts.

How to Brand a Next-Generation Product - SPONSOR CONTENT FROM HBS EXECUTIVE EDUCATION

Harvard Business Review

” Observers debated whether this was lazy branding or a very deliberate effort to market the iPad as a sibling to the Mac. Like Apple, most consumer-centric companies deal with the dilemma of how to brand the next- generation of an existing product.

Burn the Business Plan

Leading Blog

Entrepreneurs must learn to dance to the market’s ever-changing tempo and rhythm. Another reason success as an entrepreneur favors age is that “creating a new product or service is an organic process, one that is shaped by background, experience, and acuity of the innovator.” “The

Know the Job Your Product Was Hired for (with Help from Customer Selfies)

Harvard Business Review

“We focus on organics and cool new macronutrients, and our consumers are into quinoa and kale and bean sprouts,” Alex Blair, who owns four franchises of Freshii, a Toronto-based chain of healthy fast-food outlets, told the New York Times.

Why Social Marketing Is So Hard

Harvard Business Review

But despite this outpouring of expertise, many organizations still find marketing in the social era ridiculously hard to do well, if at all. Perhaps marketing in the social era is that kind of problem. I'd like to use this post to ask a series of questions about marketing in the social era, in the hopes that we get smarter about the challenge it poses. The funnel is a favorite of marketers because it is linear, uni-directional, and transaction-centric.

21 Home-Based Business Ideas & Tips for Starting a Business from Home

Miles Anthony Smith

Networking and marketing are vital parts of building a business, so make sure you have a plan to tackle both. Set up a Dedicated Workspace If you plan on working from home , you will need dedicated workspace to stay productive.

Turnarounds and the Big Play | In the CEO Afterlife

In the CEO Afterlife

by John • December 11, 2011 • Branding , Leadership , Marketing , Strategy • 1 Comment. The means to that end is quickly slashing sku’s and product lines to reduce inventories. Secondly, he innovated with blockbuster products iMac and iPod. Marketing.

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Why Customers Leave

Skip Prichard

I have been speaking, teaching and consulting on marketing and branding for 30 years, and I began to notice a disturbing trend. Those who can’t or won’t accommodate our growing demands are perceived as “poor” market players. From this mindset has come the “franchise approach.”

5 Critical Factors For Building The Right Team

Tanveer Naseer

Planning for the second version of Xbox – a product which needed to reach a larger and broader audience – raised an important question: can a collection of white, male, hard core gamers build an entertainment system for the masses?

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Learning from the Innovation Leaders

Great Leadership By Dan

Successful products, services, strategies, and business models now have a shorter shelf-life than ever before in business history, which means that “innovate or die” is not just a cute bumper sticker; it’s a brutal reality of twenty-first century competition.

Here’s a Leadership Hack for 2017: Start finding ways to Invert Control

Great Leadership By Dan

Instead I assign that job to a specific production person. Discrete task assignment creates accountability, which in turn increases motivation and drives harder work, which ultimately maximizes productivity on a film set just like it does with the kids in the kitchen on cleanup duty.

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Statesman vs. Politician | N2Growth Blog

N2Growth Blog

One might add that at the time of the Founders, America had approximately 2 million people, and many fewer had the franchise than today.

Blog 423

When a Product Fails, Find a New Direction

Harvard Business Review

Your company has just developed an amazing new product. Having observed management teams for decades as a mutual fund and portfolio manager, I have watched numerous companies vanish after a disastrous launch of a product or service. Baldino moved aggressively to bring Provigil to market. Baldino sought to convince thought leaders of the therapeutic benefit, prove the drug worked, and then market it to the needy community.

Social Media Influence | N2Growth Blog

N2Growth Blog

In a perfect world you would build relationships with the largest possible universe of targeted constituents where you can productively engage and contribute. link] Social Influence Measurement – Tools, Resources & Commentary | Digital Marketing Blog // Digital Operative [.]

The Problem With Coaching | N2Growth Blog

N2Growth Blog

Any number of franchised coaching offerings can be purchased at affordable prices, numerous affliliations with the hot coaching brand de-jure are available for the asking, or if all else fails coaches can just go it alone as a solo practitioner – the more the merrier right?

Blog 378

The Big Picture of Business: The Colonel and Me

Strategy Driven

The second was at what was the fourth KFC franchise to open in the United States. There became too many competitors, too much franchising, too much hype and just as many who exited the industry as quickly as they entered it.

On a Consumer Watershed

Marshall Goldsmith

Over the past several years a major shift in customer behavior has reshaped the nature of many markets and is leading to profound changes in how companies attempt to serve those markets. More and more business customers have quit buying stand-alone products and have started buying integrated solutions. A growing percentage of IBM’s business, for example, now involves customized solutions incorporating non-IBM products and services.

5 Ways Predictive Analytics Make or Break a CRM System

Strategy Driven

No longer a discretionary luxury, predictive analytics are now the name of the game for those who seek to utilize customer metrics in a meaningful way to establish a tremendous competitive advantage, gain notable market share and significantly boost bottom lines.

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Using Analytics to Predict Hollywood Blockbusters

Harvard Business Review

The marketing budget to cement that perception was nearly $100 million, but the opening weekend not only missed financial expectations, it flat-lined. Clearly the thriving film market needs to shift to a culture that bases decisions on data — not gut checks.

Film 17

Star Wars, Disney, and the Fandom Menace

Harvard Business Review

Abrams to direct the next movie in the franchise, the folks at Disney must be feeling some relief. It would be one thing if your product's biggest fans loved it unconditionally. billion in home entertainment products.). Customers Marketing Strategy

The Big Picture of Business – Tribute to a Great Mentor. Remembering Cactus Pryor.

Strategy Driven

One remote on which I joined Cactus was for the fourth KFC franchise in the United States. Otherwise, it haunts you for the rest of your life and clouds your productivity. One never forgets their first mentor.

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The Economics of Why Companies Don’t Fix Their Toxic Cultures

Harvard Business Review

By thinking of a company’s culture as a form of investment subject to market failures, we can better understand why companies sometimes tolerate misconduct, and why they can’t always fix it on their own. Analyses of recent cases of misconduct in the financial sector suggest that misconduct is not just the product of a few individuals or bad processes, but rather the result of wider organizational breakdowns , enabled by a firm’s culture. naqiewei/Getty Images.

Using Analytics to Predict Hollywood Blockbusters

Harvard Business Review

The marketing budget to cement that perception was nearly $100 million, but the opening weekend not only missed financial expectations, it flat-lined. Following in the formulaic footsteps of its big-budget predecessors, like the Pirates of the Caribbean franchise , Disney surmised that the action-packed, special-effects-bedazzled Carter would kill at the box office. Clearly the thriving film market needs to shift to a culture that bases decisions on data — not gut checks.

Film 13

The iPhone 5 Launch Will Be Successful

Harvard Business Review

This sort of behavior may appear outrageous, but I actually believe that the outlandish " fanboyism " inherent to the Apple experience is a well-designed piece of the product. The irrational behavior that Apple products provoke represents the piece of the product puzzle that only Apple has uncovered in the mobile-phone market. To understand why Apple's crazy culture is so important, it's necessary to revisit two of marketing's most important contributions.

Morning Advantage: Did Disney Hit the Jackpot with Star Wars?

Harvard Business Review

He just sold Lucasfilm, and the rights to the Star Wars franchise, to Disney for $4 billion. Even though the Star Wars franchise continually rakes in revenue from DVD sales, video games, and TV rights, she says the success of the deal rests on one risky proposition: Disney, sans Lucas, must re-spark the imagination of fans when it releases a new trilogy. The success of an NFL franchise in London is less an economic question than a cultural one.

Get Buy-in for Your Global Strategy with Local Partners

Harvard Business Review

Just before I moved to the UK to head up marketing for KFC International in Europe and Africa, Pepsico had bought out our joint venture partner in the UK. Because most of the UK KFC system was franchised, it was important to win our franchisees over to a new brand strategy we had been planning before the acquisition took place. Finally, Keith, the head of the franchise group, came out to deliver their verdict. Global business Marketing

McDonald’s Has to Do More than Manipulate Its Stock Price

Harvard Business Review

The company’s executives said that to help finance the plan, McDonald’s would increase refranchising (turning company-owned restaurants into franchises), take on more debt (even at the risk of lowering its bond rating ), and find $300 million to cut in general and administrative expenses.

Microsoft's Kinect and the Invisible Handshake

Harvard Business Review

If and when the technology succeeded, that company stood to reap the rewards through the differentiation in its products, and often also by licensing the new intellectual property. In Kinect, then, we see a major investment by Microsoft aimed at improving the marketability of its Xbox franchise combining with the imagination of a network of innovators. But now, it will be the collaboration of market players, not their competition, that moves markets forward.