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How to Turn Your Hobby into a Business

Strategy Driven

But if you don’t have a clear way to monetize your product and/or service, you’ll never turn your hobby into a long-term, sustainable business. Other options for selling your product include leasing, crowdsourcing, franchising, and ad-revenue. What do you want your business to achieve in the long-term?

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Exploring and Exploiting Your Way to Growth

Harvard Business Review

How can you adapt management systems that are used to managing short-term performance to become capable of supporting a "test and learn" approach to innovation? How can you align leadership across a corporation to support these new, risky ventures when all of their DNA is committed to driving profits in today's franchise?

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

Miles Anthony Smith

Term loans , SBA loans , lines of credit and invoice financing are just a few of the options available to small business owners. The bad news is that you can't get back the time you spent working on any projects for this client. As your experience grows you'll be able to charge more per hour or project.

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Exploring and Exploiting Your Way to Growth

Harvard Business Review

How can you adapt management systems that are used to managing short-term performance to become capable of supporting a "test and learn" approach to innovation? How can you align leadership across a corporation to support these new, risky ventures when all of their DNA is committed to driving profits in today's franchise?

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What the NHL Lockout Reveals About Capital and Labor

Harvard Business Review

The really great franchises will make a bunch of money; the crummy franchises will lose money; and they'll have rich owners who can absorb that and who have plans and hopes and dreams that someday they can make money. All of those things are right for the long-term. It's not a guarantee.

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On a Consumer Watershed

Marshall Goldsmith

Johnson & Johnson’s worldwide franchise managers, for instance, may have to get country managers, whom they do not directly supervise, to commit to a strategic marketing or purchasing plan. It is, in short, a watershed event. In a hierarchical organization, leaders can more easily give orders and expect people to respond.

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Case Study: Should a Hotel Giant Eliminate Some Brands and Refocus?

Harvard Business Review

Like most of the big hoteliers, however, Otto owned few of those properties; instead it franchised and managed them, with the bulk of the real estate owned by independent companies that licensed Otto’s brands. The addition of Beekman’s eight brands had increased the number now under Otto’s umbrella to 21.

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