Do Business Well

A franchise arrangement occurs when the business rights for a particular business, as well as the knowledge, procedures, expertise and goodwill necessary to run it, are sold to a number of people, who are called franchisees.

Franchising is a popular way of starting a small business. In the USA in 1988, there were over 2 000 different franchises, operating over 500 000 outlets, with sales of $640-billion. The South African Franchise Association has 84 members. Continue Reading »

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How much of an investment will be required for the franchise? Is the ‘franchise fee’ merely a down payment? Are there hidden costs in the form of payments for equipment, leases, buildings, supplies, advertising, corporate overheads, royalties, renewal fees, or insurance? Continue Reading »

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• You can start your business career at any age. Karel Bos began manufacturing exhaust systems for motor cars in Bosman Street, Pretoria, when he was 23. His business was called Bosal and has grown into a multinational exhaust system manufacturer.

Astrid and John Sinclair were 17 and 20 respectively when they opened their first antique shop. Today they own the very successful Sinclair Interiors.

Ray Kroc was 52 years old when he started McDonald’s, the most successful fast-food franchise in history. Continue Reading »

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“Everyone is exceptional” has a second meaning: Everyone should be treated as an exception. Each employee has his own filter, his own way of interpreting the world around him, and therefore each employee will demand different things of you, his manager.

Some want you to leave them alone from almost the first moment they are hired. Others feel slighted if you don’t check in with them every day. Some want to be recognized by you, “the boss.” Others see their peers as the truest source of recognition. Some crave their praise on a public stage. Others shun the glare of publicity, valuing only that quiet, private word of thanks. Each employee breathes different psychological oxygen. Continue Reading »

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If you are a manager, you may want to try this exercise. On the left-hand side of a blank sheet of paper write down the names of the people who report to you in descending order of productivity, the most productive at the top, the least productive at the bottom. On the right-hand side, write down the same names, but this time in descending order of “time you spend with them,” the most time at the top, the least time at the bottom. Now draw straight lines joining the names on the left with the appropriate names on the right. Continue Reading »

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A healthy partnership is based on one crucial understanding: Neither partner is perfect. If potential partners are afraid to admit their imperfections, or are trying diligently to correct them, or are reluctant to ask for help, neither will be on the lookout for a productive partnership. They will be nervous of confessing to too many faults and suspicious of anyone who offers.

Strangely, most companies actively encourage this kind of behavior. Job descriptions, for even the simplest roles, run to two or three pages, presumably in hopes of capturing every minute task that the perfect incumbent should be able to perform. Training classes and development plans target those few behaviors where you consistently struggle. Everyone talks of the need to “broaden your skill set.” Continue Reading »

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But everybody wants to grow, and you can’t blame them. So what should an Internet brand like Amazon.com do? There are five fundamental branding strategies for a leader in any category.

1. Keep your brand focused.

There are more than 5 million dotcom sites registered on the Internet, and you want your site to stand for more than one thing? Amazon.com should stay focused on books and music CDs. After all, the site accounts for just 4 percent of the $24.6 billion book market in the United States. Continue Reading »

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With consumers spending more money on landscaping and their lawns, it is not surprising the purchase incidence of garden equipment, furniture, and decor is strong as well. Purchase incidence of garden equipment, furniture, and decorative items for the garden (i.e., garden hardware) was 42 percent in 2003, down slightly from results of 47 percent in 2001. Continue Reading »

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To increase the effectiveness of your presentation, allow your audience to get involved: to question, clarify, or to redirect what you are saying. You can allow questions before, during, or after your presentation; each time has certain advantages.

Taking Questions at the Beginnings

This assumes your audience knows a good deal about your subject and has questions before you begin. By getting these questions out ahead of time, you get an idea of what people want to know and can reassure them that their questions will be answered during your presentation. It allows you to tailor your material to the needs of a particular group. Continue Reading »

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The Road Ahead Is Curvy and Treacherous, and Good Road Maps Are in Short Supply

Advertising Agencies

Because of the extensive consolidation that has taken place in the last decade, further consolidation will take place at a slower rate in the immediate future. Part of this is a reaction to the government’s closer scrutiny of the mergers because of the Enron debacle. A pause in consolidation at this point is also good because it will give the acquirers an opportunity to digest the new properties and position them efficiently within the corporate umbrella. Continue Reading »

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