Two weeks ago, we talked about the first three of the seven specific areas you need to consider in your franchise prototype process. Here are all seven again:
- Primary Aim
- Strategic Objectives
- Organizational Strategy
- Management Strategy
- People Strategy
- Marketing Strategy
- Systems Strategy
(The first three focus areas were covered in the blog: Business 2.0, please read before continuing)
Creating a focus in these seven areas will get you on the path to creating a business that works for you. Today we are going to cover the last four.
Before we jump into it, think of constructing your business model like planting a tree. At first, it’s so tiny and weak you wonder if it will even make it through the night. But, you keep watering, fertilizing, and nurturing it. Your ideas will grow the trunk, and each of these strategies will extend out like the branches of your now a strong tree. Finding the perfect support staff, employees, vendors/suppliers, and other relationships will make your tree flourish with leaves and flowers to bear fruit.
Grab your pen and paper, roll up your sleeves; it is time to get to work.
If I told you, having excellent management is not about finding great people with a lot of experience but about creating a system to cultivate, promote, and train talent.
The way you structure your management team development is essential to your growth and your employees’ happiness and, ultimately, your customers/clients. This strategy is results-oriented and doesn’t depend on the people but the actual system that’s in place.
A management strategy, in short, includes goals, rules, company direction (mission/vision), standards (supervisor expectation of behavior and performance), skill development. That tells your employees how to act, grow your business, and meet clients’ expectations.
It is a well-orchestrated procession of actions that allows your staff to exceed your clients’ expectations while fulfilling strategic objectives over and over again. It is your operation manual, your series of checklists, scripts, and action processes.
If your management strategy is what you want your people to do, your people strategy is how you get them to do it.
You need to show your employees how you feel about their job performance and dedication to your business. They also need to understand “why” they are doing specific tasks. This helps your employees personally connect to their job, leading to better production and a happier workplace.
There are several strategies you can use to get the highest performance of your employees (They are in order of effectiveness):
- Constant, regular, and public reminder/thanks of how their work is impacting the community (companies goals)
- Internal education program
- Internal staff dream program
- The innovation game
- A learn this business program:” not just your job.”
- Performance Incentive Programs
- Contests that reward high performance
- An employee of the Month
- Performance/Holiday Bonuses
These are just a few of the ideas you can use. To create a great people strategy is to find the balance between appreciation, education (the why), and directing of staff energy.
One of the best ways to appreciate your employees is by calling a meeting and asking them how they would like to be rewarded. Think about it for a while and put the best strategy into play. Keep it fresh and change up the system you use from time to time to keep your employees guessing. Once they get used to the prize, it’s time for a whole new approach.
You need to build a community within your company. There needs to be support, appreciation, and respect. The more “at home” an employee feels, the better they will perform and the higher their loyalty level.
Marketing is, of course, essential to the success of any business, but it also must work cohesively with the other strategies you’re using. There are two central pillars of successful marketing strategy-the demographic and psychographic profiles of your customers.
The psychographic tells you what your customers are the most likely to buy, and the demographic tells you who they are, which can help you learn why they buy specific items.
With this information, you have answered the pivotal questions of marketing:
- Who are they?
- Where are they at?
- What do they want?
Now all you have to do is speak to them.
There are three types of systems in every business:
- Hard Systems
- Soft Systems
- Information Systems
Hard systems refer to those that immutable they’re opening and closing procedures, your standards of office cleanliness. These are the systems that don’t have any wiggle room and are usually all internal.
Information systems include customer data, product information, financial…anything with data and numbers. This the recording of important information to the operation, use, and success of the business.
The most important of all three systems is the soft systems because it is where your employees have the most flexibility in execution and usually require the most creativity.
The most critical soft system is your sales system. In your sales system, the two keys to success are structure and substance. The structure is what you sell, and substance being how you sell it.
All three systems are essential to the success of your business, and while they all have their particular roles, they all must work together to get the job done. This also goes for your entire business development program.
I want to take a moment to recap on the ideas we went over through these business development lessons. We have covered a lot of the series of blogs.
An entrepreneurial myth, or e-myth, is an assumption that anyone can succeed at business with:
- Some capital
- Projected a targeted profit
There are essentially three key roles that need to be filled to set your business up for success:
- The Technician
- The Manager
- The Entrepreneur
The four different stages of a business life cycle are:
- Growing Pains
There are a few things we are going to talk about:
- Business Format Franchise
- The Franchise Prototype
- Franchise Prototype Standards
There are three main areas of business development:
Seven specific areas you need to consider in your franchise prototype process. Here are all seven again:
- Primary Aim
- Strategic Objectives
- Organizational Strategy
- Management Strategy
- People Strategy
- Marketing Strategy
- Systems Strategy
Question and Actions
If you have been following along over the past few months, I thank you for those who have not; then you have a lot of work to do. Below are guiding questions and action steps. As always, I am here to help.
- What do I do now? First, identify what role in your business you play. Are you a technician, manager, or entrepreneur?
- Where do I need the most help? Take some time to think about the area you need the most help, then start taking the next step in your business.
- What will it take to get past my ego? As entrepreneurs, we constantly feel we must go it alone, but in reality, once we get past our ego holding us back, we can get the help we need to succeed truly.
I am here to help you work through all of these areas and give your business a jumpstart that puts you ahead of your competition right from the start. Feel free to contact me directly at email@example.com. I am happy to answer any questions you have and discuss the success of your business.
There are five major components to good advertising copy: (The order of these is essential to success)
- Command Attention
- Showcase Benefits of Products/Services
- Prove the Benefits
- Persuade People to Embrace the Benefits
- Call to Action
Advertising is sales in print. So, you need to think about your products/services’ unique benefits and compellingly showcase that. You need to emphasize results, not features.
Let’s take a minute to talk about each of these components:
- Command Attention: This is accomplished with the headline. You need an attention-getter that makes people want to know more about your products/services. The best headlines give a vivid portrayal of the benefits or show how a problem can be avoided with your products/services. The headline is the advertisement for the advertisement.
- Showcase Benefits: You have to showcase the benefits of your products and services and, more importantly, show how they will solve or prevent a problem. They need to know what’s in it for them. Include useful, factual description of benefits to deliver precisely what and how they will help the customer.
- Offer Proof: This is where you prove what the advertisement is offering. You need to establish you have a method to deliver. Consider the information that establishes credibility and past performance.
- Persuade: You need to add compelling reasons for your potential customers to purchase your products/services. Use a hard sell approach and create scarcity. This will compel your potential customers to feel like they have to act now, which leads to the last component.
- Call to Action: You need to compel your potential customers to DO something. They need to check out your site, sign up for your newsletter, purchase your products, contact you about services…something. Offer a freebie-a booklet, sample, product, bonus, demo, consult, limited-time price…the list goes on. There are many ways to get potential customers excited about ordering and help them feel like they are getting a fantastic deal.
Good advertisements include all of these components and are not complete without any of them. You can sit down and think through any one of these components, then figure out how to best place them together for the most effectiveness. We can help you with this too. Try our Marketing Evaluator to make sure your copy POPs!
You can use three critical areas of public relations to boost your advertising results ten-fold over your paid advertising.
The key to public relations lie in:
- Public relation or publicity
With a solid plan in place that encompasses all these areas, you’ll have a great approach to use public relations in the best way possible.
Public relations include all that is the media. Don’t limit yourself. The attention of newspapers, television, radio, magazines, bloggers, ezines, and more are all equally powerful. Online marketing is just as, if not more, important as conventional media.
Here are the steps to get noticed by the media:
- Put together a press release for your company. The press release should be relevant to your target market and address consumer interest, not just announce your business.
- Compact your press release to include one hook and one angle. Choose the most attention-getting to make sure the media person you are sending it to is interested in reading it.
- Put your press release in professional formatting. With press releases, you need a dateline, the essential information at the top, facts, figures, and wrap it up with contact details, including who and how. Print the press release on your letterhead.
- Send your press release to all television and radio stations, local and metro newspapers, national newspapers, industry magazines, and any other form of media that reaches your target market. Don’t forget to include relevant blogs, ezines, press release submission sites, and industry professionals.
More importantly than a perfect press release is to make sure you have addressed your target market’s needs in the products/services you offer and make that clear in the press release. If you are provided people a solution to a problem, a way to avoid a problem, and an opportunity to enhance their life the media and public will be interested.
If you have a connection (or the ability to get a connection) with a celebrity, this can practically guarantee you’ll get attention. Make sure you are offered newsworthy information and then follow up with media outlets to make sure they are publicizing that information.
“One of the most powerful techniques every business should use is free publicity. As the name implies, there is no cost, just the time and effort required to attract attention to your business.” Jay Abraham
Our GUIDED TOUR can show you how to put together press releases that work! Check out how the pros do it and craft the perfect press releases for your business.
Today we’ll talk about shameless self-promotion. That’s right, I said it! Shameless! After all, we are learning from Paris Hilton here.
It’s all about self-promotion! Self-promotion comes in many forms and you can use different tactics to get your name out there. Look at politicians! Talk about self-promotion and in some not so discreet ways, at that. But, seriously, consider some of the major superstars we all know. Madonna, Donald Trump, Howard Stern and Bill Clinton, just to name a few.
We all self promote. Did you raise your hand in class to show the teacher you knew the answer? Of course! That’s self-promotion. This is the kind of self-promotion we are talking about. With dignity, class and the knowledge to back it up. If you self-promote only to prove you don’t really know what you’re talking about, you’re going to lose business.
Natural self-promoters are the former and I want to tell you about the three major traits they have and use to build themselves and their businesses.
- The first is position. You need to position yourself around people who can make a difference in your life. You need to do this frequently. You need to wake up every morning and ask yourself “Who can I meet today who will make a difference in my success?” In fact, go a step further, write it in big, bold letters and tape it on your bathroom mirror.
Who can help me meet my goals?
Is it a prospective customer/client? A colleague with contacts? An association with key members who may become prospects?
Don’t settle into interacting with the people who are the easiest to access. You need to reach outside your comfort zone and there you will find a wealth of new connections that will bring you great success.
- Now, let’s talk about Style. No, this doesn’t mean you need an Armani suit to bring in more business (though, let’s be honest-it wouldn’t hurt) J What this really means is how are you different from your competitors and others in your industry. What makes you memorable with customers?
If you are meeting a lot of people and they don’t remember you once you leave the room, you have a serious problem! This means you have an opportunity to present yourself in a more memorable way.
There are lots of little subtle changes you can make. Reassess your:
- Business cards
- Company message
- Your picture
- Your wording
Maybe even, your hairstyle (of course, now we’re back to the expensive suit, but it really works!)
You get the idea. There are lots of little ways you can work on making your image and business more successful. Also, consider how you sound on the phone and how you greet people at meetings or other events. Think about your 30-sec elevator speech.
- The third trait of natural promoters is repetition. You can’t say it once and leave it at that. Successful self-promoters say it as many times as they need until they get a response. Would you remember a commercial for Coca-Cola if you only saw it once, no! You see it over and over and eventually you head out to the store.
You, also, have to make multiple impressions on those you are networking with in order to build brand awareness. Repetition is in direct connection with positioning. Once you find people to network with, reach out and find hundreds more who can help in your success as well.