Do you have what it takes to be successful in business?

business-success

As the focus from government, big business and Expo’s like FASA’s recent KZN Franchise Expo is on empowering entrepreneurs, stimulating small business and creating jobs, we look at what does it take to be successful.

Making a success of a business requires total commitment and dedication to realising your own potential and ensuring success. To do that you need to:

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The next steps to owning your own business

For those that attended the IFE Franchise & Entrepreneurs Expo in Durban this past weekend, being able to talk on a one-to-one basis with franchise personnel from the range of franchise businesses on offer was invaluable as a big part of the success of franchising is in the win-win business partnership between the franchisor and its franchisees. FASA, whose mandate in presenting franchise expos is to educate the public on this business format, cannot emphasise enough the importance of understanding exactly what franchising is and how it operates.

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What motivates you! Pushing the right motivational buttons

Staying positive when there is political chaos, the petrol price is about to go up and you worry for the future of your job, business and family is a challenge for us all. Whether you’re working on a big goal or just trying to get revved up for the day, getting and staying motivated can be a challenge. According to the experts, whilst getting inspiration from motivational books and quotes can help get you started, they say you first have to understand what motivates you and tap into what buttons you need to push to get you going.

Check out these four motivation styles and what you can do to kick your drive into gear:

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13 Lessons learnt in franchising in the current economic environment

business-steps-franchising

As leading franchise consultants, we have identified 13 lessons learnt from the franchise industry and current economic environment we find ourselves in.

1.Franchisees: Struggling in current economic environment

In the current economy franchisors are experiencing an increase in franchisees who are struggling to make a profit. The marginal franchisees have actually gone into a loss-making situation.  Franchisors need to assess whether their business model and support structure is adequate to ensure that franchisees have the best chance of making a success of their business. Franchisors should implement an “intensive care program” for struggling and loss-making franchisees. Franchisors should never allow royalty holidays or breaks as a quick fix solution, rather offer additional support in these tough times

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