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BUSINESS COACHING – THE BEST OPPORTUNITY

Business Coaching Planning

About Business Coaching. Business, career, life or executive coach has become a very commonly used title for those who believe in helping others achieve their goals. Fifteen-plus years ago, you might have had to explain the difference between a coach and a consultant. Today, almost every consultant may call himself/herself a coach.

The term coaching and consulting are being used synonymously. There are differences still.

  • A coach asks the right questions. A consultant gives you the answers.
  • A coach works with you so you can be accountable to strategize, plan and execute. A consultant analyzes, diagnose your situation and provides you with the solution.
  • A coach listens and help you seek your answers – how badly do you want it? How are you going to commit to your goals? What’s important and why? Etc. A consultant tells you the answers- based on historical data, past successes, successful strategies and more.

Those are some of the differences. Whether you are a consultant or a coach – both services are very much needed. Sometimes you just need to hear the answers from someone else, based on their knowledge and experience. Other times you will need to do some soul searching in order to own the solution.

If you are serious about diving into business coaching, there are several established proven successful systems which you can launch quickly. If you are looking for proof of concept, excellent support and established names, consider looking into business coaching franchises.

Why a franchise, you may ask?

Easy. Great franchise systems in this invisible (versus a brick and mortar concept) service provide the pre-training, training, culture immersion as well as will teach you how to attract and onboard clients. And yes, you do ‘pay’ for all that you get – from exceptional support, coaching, mentoring, brand marketing and continuously learning. 

You will never have to build your business alone, unless of course, that is your preference. You will own a business for yourself, just not be by yourself. There is an abundance of legendary support in areas of marketing sales and personal and professional development for you, the business owner. How would you convince another business owner that he/she needs a coach, when you don’t believe in having one for your business and yourself?

Here are 5 things you can identity in the Best Business Coaching franchises:

  1. RECOGNIZABLE NAME. This Business Coaching industry is very crowded today, as compared to 15 years ago. You want to be part of a team whose brand is still recognizable even after 10-plus years. International brand recognition may play an important part in your decision. It means that the established business coaching teachings and systems work because of successful applications within different cultures and languages.
  2. STRENGTH IN NUMBERS. There is attrition in any industry. The question is whether the concept survived the tumultuous growth in the first five, then the next five years after that? Did the players grow their businesses over time? How far has the brand been able to establish itself over the years? 
  3. KAIZEN. Are the business systems and support continuously improving? Does the franchisor(zor) learn from its franchisees(zees)? Does the zor enable its zees to improve the systems, growing from within? A strong organization of coaches thrives when learning, teaching and mentoring occurs on the inside. It also means that it survived the this is “all about me being successful” phase.
  4. TOGETHERNESS = ABUNDANCE. How often do learning and sharing together take place? Regular conferences improve and encourage exchanging ideas, making the system work, sharing new developments and building camaraderie. Regional, national and global conferences enable face-to-face gathering of great minds and ideas. There is no shortage of those wanting to teach and those wanting to learn. More often, than not, they are one and the same.
  5. SUCCESS IS MADE FOR EVERYONE. NOT EVERYONE SUCCEEDS. You are about to invest your hard-earned money into a system – why not INVEST YOUR TIME FIRST! Go through the zors’ qualification all the way to discovery day. The best is always saved for last.  The journey to your decision could take anywhere from 10 to 30 hours – depending on how much information you need. Invest your time to learn and ask questions, before you invest your money.

Remember that every zee who has ‘bought’ into a concept has the same access to training, tools, strategies, success game plan and more. Yet, not all will succeed. 

You need to decide where you see yourself in that scale to success. Commit! Put your mind to it and just go with it. Don’t look back. This is it. How determined are you to make it work?

There are proven-results coaching franchises available. You will find one that suits your style, personality, goals, aligned with your values and of course, within your investment range. Talk to an entrepreneurial franchise or license consultant). One who has experience in franchise/license ownership. Your right adviser puts you, your goals and your needs first – to give the best options and advice.

There is congruence in the process when you take this approach.

The best people to advise and guide you about what and which business, are the ones who have put their family, money, blood, sweat and tears into business ownership…

Why not listen?

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The Best Advice: 5 Ways to Launch the Entrepreneur in You

You can be an entrepreneur. Whether from the place of service you want to make a difference or from an inspiration or out of necessity, you commit follow through with that idea.

It is worth mentioning that there is a belief that if you are a franchisee, you are not an entrepreneur.  Here’s how Webster dictionary defines “Entrepreneur” : “one who organizes, manages, and assumes the risks of a business enterprise.”

The definition fits every person who has taken risks of starting and owning a business, no matter what the format of business.  Albeit there are different business models, levels of risks.  It does not make you less or more of an entrepreneur.

Now that the parameters of the meaning have been revealed, yet again, we will look at the 5 different ways that can launch you into entrepreneurship.

1. YOU, Inc.

Go with what you are good at and kick start the concept on your own.  As a general rule, you will start with something you are good at delivering.  Sometimes, what you are passionate about and what you’re good at, are not necessarily the same things.

More often, than not, you will use the relationships which you have built during your corporate tenure to venture off on your own. In some cases, you are inspired and blessed with an idea or two which can spark your success – think #Scrub Daddy, #Facebook, #Apple, #Bombas, #WickedGoodCupcakes.

You know the service or product you can deliver and together with your game plan, you think of a business name, register the business locally and with the IRS for your EIN number – and you’re ready to go.

Then the real work starts.  Marketing and sales, website, email, branding, getting your brand out there. Your system that was in your head, what you envisioned, jotted down on the napkin or paper will be manifested.

2. NETWORK MARKETING

Not a pyramid scheme. Pyramid schemes can be illegal (since income is based on recruitment and not the sale of a product/service).   Network marketing or multi-level marketing is where you generate income from selling products or service.  SEE DEFINITION

Here’s where you start small and follow the trailblazers whom have already shown success.  Use the system, usually start by promoting to family and friends. There is usually a fee – starting from a few hundred dollars – to get started. You’re then opened to a world of conference calls, team leaders, mentors who are all dedicated to your success.  Just follow the process.

3. LICENSEE

Licensing opportunities may include the granting the right to represent yourself as a deliverer of that brand – product or service. Training and/or License fee varies – sometimes included in the purchase of the right to deliver the product.

Sometimes there is a percentage of royalties on sales and sometimes none.

4. FRANCHISEE

Many people shy away from franchises based on the assumptions they have made as a result of hearsay from friends, family and what they think they know. As a franchisee you have earned the rights to be the local representative of a brand.  You will have access to their tools and support systems– sales, marketing operations and success on how you can replicate the profit model that made the concept successful in the first place.

You are in business for yourself, just not by yourself.  Being able to write the check to purchase the franchise, does not mean you are qualified.

5. BUY A RESALE BUSINESS

Resale businesses may be a great option, if you have the wherewithal to buy an existing business.  In this type of opportunity, you are investing for the operations, ongoing revenue, the client base and future income.  Taking all that into consideration – the financial investment may be higher any of the above types of start-ups.

No matter what format you choose to launch your entrepreneurial career, it is best to explore some or all of the above options.  Not everyone can be a Shark Tank phenomenon.  Not all business ideas are cash cows. Remove any assumptions you have because each approach is different and has its own pros and cons.

Talk to the people who have done it before, failed and succeeded. They know about taking risks.

It’s simple.

You cannot advise others about taking risks, starting a business, if you yourself have never done it.  If you’ve not invested your own hard-earned money into building something successful profitably – you don’t really know about risk taking in business ownership.  Hearing about someone else’s failures in business, is not the same as having experienced it.

Get hold of those who have started, failed and risen up despite of and from it. They are your best advisors.

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Will You Bet On You to Succeed?

Here a question for you:  Will you bet on YOU to succeed?

We talk to prospects every day.  All of whom are interested in exploring business ownership  as an alternative. We tend to think that going into business means we’re  investing in the business model and the brand.  Well, not so fast.

HERE’S A LITTLE SECRET

Betting on YourselfWhen you start a business, whether on your own or as a franchisee or licensee, you are betting on YOU!  You’re the stock that you’re investing in.  You’ve chosen your business, you know what you’re getting into and you have it all planned out. The question is are you ready to take on the challenge of being successful at it.

What happens if you succeeded, what happens if you didn’t succeed?  You cannot blame your boss anymore. You are it.

REAL INFLUENCERS BET ON THEMSELVES

You are now giving yourself the freedom  and permission to generate the level of affluence you want for you. Just as there are no guarantees with a job, there are no guarantees in business either.  Are you willing to do the work?

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Fear-Busters: Overcoming Fear of Franchise Ownership

Franchise Fear-Busters

Franchise fear-busters knowledge is aimed at identifying the real strengths and challenges in franchising.  The goal is to  help you achieve your business ownership goals, possibly with a franchise or license type business.

If  you are turned off with the words ‘franchise’ or ‘franchising’ then think again. A franchise is a business. The main difference is a franchised business has proven successful. The business  comes with a replicable system. Depending on the growth stage of brand, you can either be a pioneer or the plug-and-play type franchisee.

Why you want these fear-busters

In this line of work, we have heard your (prospects) non-verbalized responses.  We catch your negative implications, hear the barriers raised and the ‘no-way-not-today-or-ever’ inflections in your voices.  The fear of starting a franchise as a path to business ownership is, more often than not, the result of a lack of understanding.

Being a franchisee means starting a business with an upfront investment plus ongoing fees.  Franchise agreements are also typically one-sided. Then there’s the performance clauses and renewal requirements whether the business remains yours ‘forever’.  You’ve built the local business from the ground up, you’ve established the connections and it’s still not fully technically yours. As a result, the perception of owning a franchise becomes scary and confusing .  In reality a franchise business model is designed for the franchisee to repeat the success.  The franchisor is rooting for you to expand the brand successfully. No one goes into a business to fail.

You will encounter these fear-busters in the next few blogs coming your way.  Our hope is that you will use these #FranchiseFearBusters to overcome your fear of franchise ownership.  Only then can you make educated decisions which can help transform your life.

You owe it to yourself to get proper information, gain real knowledge so you can make a well-informed decision.

About the Author of the Franchise Fear-Busters series:

Jackie Coan is an advocate of the franchise industry.  She is active in franchising for 20+ years. Experienced as franchisee and franchisor, she understands what it takes for each role to be successful. Together with her husband Pat and the team of Professional Franchise Recruitment Consultants, they continue to help executives transition to business ownership. She firmly believes that you can be successful with the right opportunity and participate in building vibrant business communities.  You can reach Jackie at jackie@ireglobal.com

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Leadership Lessons from Third Graders

Leadership Lessons from Third Graders

Lessons in leadership taught by third grade class.

They helped me realize that these lessons apply even when leading adult learning environments.

Remember, leadership is  not about creating an impression. It is about making a lasting impact.

READ THE BLOG HERE.

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Being in Business for Yourself…

Being in Business for Yourself

And not be by yourself!

These are the Terrible Three which Strike Fear in the Hearts of Prospective Entrepreneurs:

SALES………Direct Selling……….Franchise

WOW!  We cannot even begin to count the number of candidates we have talked with that their immediate reaction involves at least one of the three.

While all of the three are legitimate concepts, lets focus on on franchising.  Most individuals looking to own a business face the decision of “Do I be part of a Franchise system or do it myself”.  We suggest that our candidates look at both options and decide which is the best option for their individual situation.  Here are some of the benefits that a Franchise offers.  If you can match these on your own, the best to launch your business on your own.

  1. You immediately have a partner in the Franchisor as well as all the Franchisees. Information is free flowing and at your fingertips.
  2. Franchise experts are readily available to train you. Whether it is the Franchisor or one of the many Franchise associations.
  3. You instantly have a Brand that is fully developed and perhaps recognized by many.
  4. Access to technology that is already developed and adapted to your opportunity.
  5. Data has proven that your success is much, much higher than doing tit yourself.
  6. Start up and revenue generation is much sooner than personally developing all the systems, marketing, sales processes, etc.
  7. Business ownership can be a lonely world. You don’t have to go it alone as the Franchisor is only as successful as you are.  They are positioned to help you succeed.

Think about it.  If you are thinking about going into business, you owe it to yourself and your family to check all the options.

Blog from the desk of Pat Coan – Business Leader and Entrepreneur