Category: Startups

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 your 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 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 call.

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
• Organisational Strategy
• Management Strategy
• People Strategy
• Marketing Strategy
• Systems Strategy

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

You Turn Me Right Round Baby, Right Round

The biggest area of turn-key businesses is franchises. There is a franchise for every industry in the world and they are fairly easy to acquire and come with pre-packaged, easy-to-assemble systems. McDonald’s is a prime example. In fact, a 12-figure, 38,000 franchises example.
There are a few things we are going to talk about here:
• Business Format Franchise
• The Franchise Prototype
• Franchise Prototype Standards

Business Format Franchise
The business format franchise came from an earlier model called the “trade name” franchise. The big change was in the rights. During the “trade name” days the franchise owner only had marketing rights; now franchise owners have ownership 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 to jump-start the process of opening a successful franchise.

1. Build a model of prospective customers/clients, suppliers, creditors and employees who will consistently offer high-quality work.
2. Build a user-friendly model that can be used by individuals of any skill set.
3. Build a defect-free model.
4. Build a model with Operations Manuals.
5. Build a model that will provide guaranteed, consistent results.
6. Build a model that encompasses the same branding in colour, dress and facilities codes.

These are all ways in which the parent corporation makes sure their brand stays the same and in the minds of their 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 call.

Kick Start Your Marketing

Today I’d like to teach you about the three most important start up marketing tools you need to get and keep new customers.

  1. In person: It’s essential you meet with customers/clients in person whenever possible. This shows you respect them and take the time to work with your clients to give personal attention to each of them.
  2. Follow up letter: Always take a moment to send a follow up letter about what you talked about, new agreements or partnerships made and to thank them for taking the time to meet with you. Likewise, you should always send thank you letters or small gifts to partners you find success with.
  3. Phone call: Use a telephone call to follow up with them to talk again about the matters you talked about in your meeting and offer any assistance you can to help their business run smoothly and more successfully.

None of these will work if you don’t have a quality product/service to back you up!

Here are the key steps for putting together your start-up marketing tools:

  1. Research potential customers, buyers, competitors and their preferred methods of distribution.
  2. Talk to potential customers. Take a hard look at your product from a customer’s perspective and see what it needs to be successful.
  3. Follow up with your 3-step process from above.
  4. Develop systems for contact follow through, quality control standards and customer service.
  5. Develop post-sale follow up system to keep lines of communication open is customers and build on your current relationship which increases future purchases.

“Marketing and innovation produce results; all the rest are costs” Peter Drucker, management consultant

Here’s another one I love from an icon:

“If there is any one secret of success, it lies in the ability to get the other person’s point of view and see things from that person’s angle as well as from your own.” Henry Ford, Founder of Ford Motor Company

This lesson has offered you the tools to put together a start-up marketing plan that can be used over and over again to help your customer base and business grow in a manageable way.