I had an interesting discussion with a relatively new franchise owner recently. (He’d been in about 18 months.)
His business, a commercial locksmithing/security franchise, is doing very well — which really vindicated his search approach. The primary thing he was looking for in a franchise was an industry that was “un-glamorous” — not sexy or flashy … the kind of work that people don’t particularly get excited about. His reasoning for that — which has paid off — is that there tends to be a lot more margin in work that has to be done but not a lot of people want to do it. (more…)
One of my favorite small business finance books* is Greg Crabtree’s “Simple Numbers, Straight Talk, Big Profits.” He takes what is typically viewed as a dry, painful topic and makes it compelling — and, more importantly, he cuts through a lot of noise and shares some excellent, practical advice on how to create a profitable business.
(*Note: To be fair, my list of favorite small business finance books is pretty short — but this is still a fantastic book by any measure.) (more…)
You might not know this, but companies that place in the top 100 Best Places to Work substantially outperform other companies – in productivity, stock price, retention … pretty much across the board.(more…)
There was a great question posted recently in a Facebook group that’s driven a lot of good discussion. The gist of the question is how to handle employees who are basically running wild – without coming down on them with a lot of rules and oversight. Here are some more details from the question:(more…)
If you attend a Kansas City Royals game, touring the Royals Hall of Fame is a must, especially if you’ve never been.
Besides seeing the two World Series trophies and all the cool memorabilia, be sure to check out the Royals Dugout Theater. It plays an inspiring video that tells the story of the Royals’ transformation and how they became world champions under the current leadership. There are lots of attributes used to describe the process, but one word that struck a chord on a recent visit was patience. (more…)
Is self-sabotage holding your small business back?
“What great thing would you attempt if you knew you could not fail?” It’s a thought-provoking question that is usually credited to the late evangelist Robert Schuller. Many others have used a version of it. It was the opening question from Regina Dugan, former director of DARPA, in a great TED Talk several years ago. (more…)