Avoid ‘Song Birds’ When Doing Homework on a Franchise

The very best way to obtain information when you’re researching a franchise is to speak to the prevailing franchisees. You can validate what you’re hearing from the franchisor of these calls and you will also create a keen sense of how everything is certainly going in the machine by listening carefully and reading between your lines regarding not only what they say but also how they say it.

One thing to bear in mind, though, you will need to make sure that you’re receiving input from a valid cross-section of the prevailing franchisees. A franchisor must give you a set of their franchisees to help you call whichever ones you want, nonetheless it can be fairly common for franchisors to steer you toward selected franchisees for what the industry calls validation calls.

Beware of a fresh Sort of Business Identity Theft

For most companies, avoiding identity theft means taking steps to avoid the increased loss of data that may lead to financial fraud. But there is a different type of business identity theft emerging: online identity theft linked to review and social sites such as for example Yelp, Google, Facebook and UrbanSpoon.

Cyber criminals or other businesses hack into these sites to create false information regarding a company or illegitimate reviews — all with the intent to harm the business.

Avoid Pursuing ROE — Return on Ego

Technology has blown the doors widely open for most entrepreneurs and would-be entrepreneurs to pursue myriad opportunities. But how does one decide those to pursue?

The main element is to pursue the opportunities that further your targets — not your ego.

As a business owner or even as a worker, it is advisable to set long- and short-term goals to go forward and become successful. In the event that you don’t know what your location is going, it’s impossible to plot a course to make it happen. Your goals should end up being the yardstick that you measure your opportunities against.

Avoid Entrepreneurs Who Feign Success to Lure Clients

THE WEB has taken many great things that help us companies, but it’s also induced a desire to have instant gratification and recognition. We are able to post status updates on social media that show the world all of the cool things that are happening inside our lives and businesses.

With this access has come a false sense of why is a business owner successful. Today, with entrepreneurs sharing different wins within their business, we associate success with status and numbers. We look at an entrepreneur’s social media following, web site traffic, and the material possessions they have. It has taken a wave of entrepreneurs who rent exotic cars and take photo shoots on beaches to prove how successful they are.

Avoid the CEO Who Doesn’t Need Coaching

Dealing with an executive coach can provide invaluable support to entrepreneurs, sometimes making the difference between failure and success. When entrepreneurs are open-minded and enterprising enough to get help, they are able to transcend a variety of challenging scenarios, leading to improvements in both their business and their standard of living. However, coaching doesn’t solve all business challenges, plus some entrepreneurs are less available to coaching than others.

In the last 15 years, I’ve met a number of CEOs who’ve claimed they didn’t need coaching. Experience shows me that this could be a red flag — and that often these specific executives need coaching a lot more than most. Here are some examples of why.

Beware of Counting on Fake Social Media Followers. HAVE YOU EVER HEARD of ‘Shadowbanning’?

It’s scarily easy to grow your numbers rapidly if you are ready to resort to fake traffic. But in the event that you do, grit your teeth for the results.

This book takes readers through a 360-degree perspective of social media in businesses.

Some time ago, Mediakix ran an experiment by creating two new Instagram profiles, one using photos of an area model and one using stock photos. The business then filled both accounts with purchased followers, likes and comments. In a short time, each account had secured paid influencer handles brands, despite reaching a grand total of zero real people.

Avoid These 10 Franchise Ownership Myths

Match the most recent franchise news, stories and solutions.

This story originally appeared on The Franchise King

You borrowed from it to yourself as well as your family to learn my set of the very best 10 franchise business ownership myths .

In the event that you don’t read them-and realize why they are myths, something bad could come the right path and it’s likely to involve an extremely loud sucking noise.

That’s right: You will be sucked down franchising’s black hole – along with most or all your money.

Avoid These 6 Assumptions in Your Startup

It’s better to dream than to accomplish, and by necessity, entrepreneurs are a number of the the most daring dreamers around.

5 Strategies I Used to start out and Grow an effective Business With Only $200

However, there is also to be the "doers" to create those dreams reality. Also to make it happen, each entrepreneur must find out this "doing" part. Even though you’re sure you have your industry determined right down to a science, you will discover hurdles on the way to success.

Avoid These Business Scams

Our legal expert shares two new–and ingenious–scams every business proprietor ought to know about.

You need to hand it to those dishonest individuals who make an effort to cheat businesses: If nothing else, they’re certainly persistent. Just when you thought you’d heard everything, presto! New scams and schemes are being intended to separate your business from its cash.

As a public service to companies everywhere, I decided to discuss two of the most recent and, dare I say, more creative scams that are circulating in the united states these days.

Beware the ‘Shiny Stuff’ Seduction

Don’t blow your startup budget on unnecessary great features.

What could possibly be much better than starting your own business, getting all you ever wished to do your task properly and being king of your über-equipped office empire? Simple: still being king next year–instead of loading your expensive toys in to the back of a "Bailiffs and Bust Co." moving van. You will not blow your budget on champagne-powered Porsches for "client meetings," but it is important to control some a lot more sensible sounding spending suggestions.