Today many prime locations are available for a more reasonable discounted price. Many landlords who would never even listen to franchise owners or mom and pops will now listen to any offers they receive. Some landlords are even offering free rent and money towards the build-out of the location.

The buzz in the commercial real estate community is that we will see the light at the end of the tunnel in 2012. That means if you’re considering opening, moving or expanding any type of retail business, you may want to act now – before the market heats up again. Many markets across the US are already starting to see an uptick in calls for retail locations. Along with those calls, the rates for locations will start rising based on the basic economic rule of supply and demand.

When searching for a retail site, it’s very important to hire a commercial real estate broker or agent specializing in retail properties. Remember the broker or agent will cost you nothing out of your pocket; their fee is paid by the Landlord. A qualified retail broker will give you insights into the local market that are vital for choosing the right location and getting the best possible deal.

To find a qualified retail broker in your area, contact Details In Retail.

Great job!      

When was the last time you said these words to an employee, a business partner, a vendor, a customer? If it wasn’t today, then something is wrong. Either you have surrounded yourself with the wrong people for the job, you’re not paying attention or, worst of all, you fall into that category of people who feel that praise is a bad thing.

A simple acknowledgment of a job well done is incredibly powerful. When something isn’t done right, we get the message loud and clear. But when something is done well there’s often a silence that just reeks of missed opportunity. Yes, we expect things to be done correctly. Still, given how often things go wrong, how can it be a bad thing to offer praise when things go right?

I worked for a truly clueless company many years ago. They did annual performance reviews and rated everyone on a scale of 1-4. The problem was, no one got a 4 – ever. The reason, I was told, was that a 4 was “perfect” and no one is ever perfect. I countered that ultimate perfection had no place on any employee rating system. If a 4 was the highest score they offered, then there had to be a way to work your way to a 4 – otherwise, why is the number even on the scale? The manager pondered this for a while and then said she agreed that people should be able to get a rating of 4, but then they’d have to make the scale go from 1-5, so there could still be a score no one could ever earn.

Most business owners don’t sink to that level of praise avoidance. There are lots of reasons why we don’t give people the praise they’re due. Sometimes it’s a simple lack of attention, sometimes it’s a hectic work environment, sometimes it’s a lack of time.

The key to using praise is to make it timely, measured and sincere. For example: don’t go on and on about how well an employee did a simple task and then ignore a challenging project they went above and beyond to complete. Don’t wait three weeks to thank someone for working overtime. If you make it a point to look for opportunities for praise, you’ll be amazed at how frequently they pop up. You’ll find that these opportunities not only benefit the recipients of your praise, but they also make you feel better about life in general, and your business in particular.

Would you rather end the day thinking of all the great work you saw and recognized, or dwelling on what went wrong, didn’t get finished or isn’t working? It’s a good day when the last thing you remember saying at work is “thanks, you did a great job on that!”

This quote stood out:

“We have identified postsecondary education as one of the most important drivers of mobility.”

I started thinking about education franchises and wondering whether economic worries might be making the business of learning more attractive than ever. I spoke with Dr. Wie Pan, who opened a Huntington Learning Center franchise in Canton, Michigan over two years ago, to learn what he sees as the trends and opportunities of this market.

What lessons have you learned in your first years as a small business owner and what do you feel is key to your continued success?

“I’m happy with the Huntington Learning Center Franchise. It provides a great service to our clients. Having a great product is most important. That great product backed by awesome service is very important. You have to be creative about continuing to be awesome. To be market driven isn’t enough, everybody’s market driven. How often do you hear market-leading? I say this coming from corporate America – everyone is market-driven but not market-leading. It takes persistence and creativity. You have to not be afraid to fail – and learn from your failures. Make your failure a launching point to success.

This is what I’ve learned by reading the Steve Jobs biography: look ahead. A team of ‘A’ players allowed Steve Jobs to achieve market-leading status. I rely on great teachers and great staff. You‘ve got to build and sustain your team. Communication is very important. I can’t run away from doing the difficult things like telling someone how to do something better. You’ve got to let them know what kind of great company you are building. I’ve hired from Craig’s list to Career Builder to word of mouth. I’ve had great referrals. The teachers are happy here and they help us bring in other great teachers like them. What makes us “awesome” is the people that work here.

We provide a kind of learning environment where kids can learn without peer pressure so they can build or re-build their confidence and hence allowing them to perform better in the classroom. Many of our students play football. I tell them ‘you train using tires and resistance pads but on game day you don’t see any of those things- but the training is why you play better.’ Similarly, at our center we provide academic skills training that prepares our students to do better in the classroom.”

Why did you choose to purchase a Huntington Learning Center Franchise out of all the available options?

“The key difference is the solid program and awesome service. We’re in business to help the kids first and the profit comes after that. Thirty years in corporate America have taught me how to conduct research. After I decided to get into the education field, I did my research on the various Learning Center options. I decided that Huntington Learning Center is is the best and, two and a half years later, I still think this is the best. A lot of times what’s frustrating is when parents call and just ask ‘how much.’ I do not do hard sell; I leave it up to them to decide. If you’re looking for price only, I’m beat, but if you’re looking for value and real results, we provide that.

I try to get them in to see what we do. When people walk in here they think it’s a small place based on initial impression until they see our whole layout and they become impressed. A lot of places have big open spaces as the tutoring environment, but we offer students a good degree of privacy. With personalized programs, everybody that comes here is essentially in a classroom of one.

We work every day to tell people how we’re different. When they come in they can see how we’re different so they can make their decisions based on the right things, not just money. Here we teach you to graduate from our program; we don’t want you here forever. We give you the tools to become independent. We give you the skills to learn effectively.

Whatever you do nowadays there’s competition. Practically every space is crowded, automotive, restaurants, department stores, tutoring and others. But in all these you have a very broad range of offerings – the spectrum is really wide – all the way from people who expect minimal service to people who are very demanding. There are people who have the most basic of cell phones and people who won’t settle for less than an IPhone so you decide who you want to serve. Ours is a quality product. When parents ask me what’s the difference between me and my competitors it’s easy to explain. I have a great product to offer based on the research that I did. And if they visit my center, they can see for themselves what I am talking about.”

Does not having a background as a teacher cause any problems now that you are running a learning center?

“Not at all. I have a PhD in chemistry and, after 30 years working in various functions in corporate America, I’ve been able to see what an education can do to help you succeed in your career. As for teaching, I hire great teachers to teach at the center. We show the parents and students how, and what, they have learned and how these connect with school – not an easy thing to do. In the end, if the parents don’t feel there’s an improvement, then your system needs improvement. I have input beyond what the [franchise] system gives me – hiring the best teachers and controlling the kind of service and value we deliver to the parents is my role.”

Would you have done anything differently?

“Maybe. Two and a half years ago I had no experience as an entrepreneur. Even with a franchise, with a business model that is known to work, I still have to learn to execute it. Knowing what I know now, I might have made another choice. I took a risky plunge into the small business world, but I haven’t regretted that.”

Final thoughts?

“Read books and talk to people, network. One of my first, and best, investments as I embarked on my own business was to pay for a membership with the local Chamber of Commerce. You think you know everything, but reading is important. Be thinking about things all the time. Is this working? What could be better? Be open to learning new things – currently, I am learning how to relax more, among other things.”

About Wie Pan

• Born and grew up in Indonesia, finished high school in Hong Kong.
• Came to the US in 1970 to go to College – earned BS degree from the University of Wisconsin, Stevens Point
• Completed graduate studies at Case Western Reserve University with a PhD in Inorganic Chemistry.
• Worked for major US corporations: Exxon, WR Grace, GE Plastics and Masco Corp., in all, 30 yrs. In Technology and Product Development roles and Management of Product Technology and R&D functions. Focus in chemicals and materials technology and development in Oil refining, Automotive, Power Plant, Plastics, and Construction industries.

You need to know what motivates your employees and, most important, what motivates you.

It usually comes down to this:

The carrot, the stick… and the boulder

…the carrot
Money has long been the standard motivational tool. Work harder, meet goals, make more money. Works every time, right? Give them a bonus, a perk, a trip to Vegas. The cost saving version of the carrot approach is praise – awards, public recognition, reserved parking spots and the like. Either way, you give them a reward to chase.

…the stick
Fear of losing their position, their benefits or even their job. Scare them into productivity. The reward in this case is simply not losing any ground, it’s defensive motivation. Sadly, this works very well in the short term and lazy employers use it across the board to “motivate” employees. In this economy, the stick is always implied.

…the boulder
There are those of us, and I am one, who are motivated by the idea of getting a job done. Money and fear are not good motivators for us. We like the challenge of rolling that boulder of a project up a steep hill and then heaving it over the peak as a finished product. We are a real challenge for employers who only understand carrot or stick motivation.

Your job is to thoughtfully evaluate each of your employees and determine which motivational style really works for them. Not just what makes them get the work done but what makes them do their best work.

Carrots have their eye on the prize. Without a reward dangled in front of them, you’re not getting their best efforts.

Sticks need to have something to defend or they can’t function at peak. It’s a reverse reward – more about not losing than gaining.

Boulders need projects they can finish.  Their reward is getting the job done well –  and then moving on to the next project.

I’ve never met anyone who is exclusively motivated by carrot, stick or boulder. Most of us respond to all three based on the circumstances. But in my experience, we all naturally tend to fall more into one category than the others. Employers who can hone in on that individual motivation style not only get the best work from every employee, they build a work environment that attracts and retains quality employees. Carrot types won’t excel without a tangible reward within sight to drive them forward. Stick types must feel they are defending their security, their rank or their job to achieve their best efforts. Boulder types need a steady stream of new tasks and challenges in order to function at peak performance. The trick is to meet their individual needs, rather than trying to use a one-size-fits-all approach to motivating your team.

The first step is taking a look at your own motivation style. What’s your style – a carrot, a stick or a boulder? Understanding your own motivational leanings will give you the opportunity to make changes that will help you and your business excel. That’s a reward that should motivate any business owner.

But here’s something to remember: every business owner changes the world. Sure, maybe not on the scale or scope of someone like Steve Jobs, but the change is there and it’s a real force in our daily lives.

Business owners are the glue that binds our communities together; providing goods and services – and jobs. They’re all visionaries in their own right. They saw potential…they saw possibility…and they stepped up.

So, as we celebrate Steve Jobs’ accomplishments and mourn his death, we should also celebrate the fact that millions of business owners are going about their business today – changing the world.

I’m mowing the lawn on Sunday and my neighbor brings me some cupcakes, and because I am mowing the lawn, doing laundry, formulating my next blog post in my head and who knows what else all at once, I wolf one down and stash the remaining cupcakes and their plastic plate in the oven to keep the flies and the dogs away from them.

On Monday I dash home from the office, making three stops along the way and make a mental note to snack on another cupcake when I get home.  But I unload the groceries and let out the dogs and decide I will preheat the oven while I water the garden.  Must multi-task.  Fifteen minutes later my house is filled with smoke from incinerated cupcakes and melted plastic.  My youngest dog is choking on the fumes and looking at me like I’m an idiot.  I’m thinking he’s right.

Our personal and business lives have become so complex and crowded that we feel the need to do at least two things at once at all times.  This is especially true in small business.  A client is discussing his business development strategy while reading his text messages.  Another is reading his e-mail while he makes decisions about a project.  I’m often at meetings where no one makes eye contact or hears the entire conversation.  More and more, I realize that this usually causes your cupcakes to burn.

We’ve all been fed the lie that you can effectively do many things at once.  Now studies have shown that we can’t.  When we try to do two things at once, both suffer.  We’ve created a manic, multi-tasking society where no one gives their full attention to anything – or anyone – but there are some basic facts to consider.

1. People hate it when you ignore them – and yes, partially ignoring them does count.
2. Fixing mistakes always takes longer than doing it right the first time.
3. Diluting your attention to any given project also dilutes your speed and efficiency.
4. Multi-tasking contributes to stress – your stress and the stress of everyone around you.

It’s bad for you, it’s bad for business, and it’s devastating for those cupcakes in the oven.

The evidence has been mounting for years.  In case you’ve been too busy multi-tasking to pay attention, here are some great articles on why multi-tasking is a habit you need to break.  Stop those 5 things you’re doing right now and learn how to manage your time better.

Is multi-tasking bad for your brain? Experts reveal the hidden perils of juggling too many jobs

Bad At Multitasking? Blame Your Brain

Drop that BlackBerry! Multitasking may be harmful

To Multitask Effectively, Focus on Value, Not Volume

Don’t Multi-task When You Can Use Chunking

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I just read a great blog post by Robert I. Sutton on the downside of what he refers to as “Big, Hairy Goals.”  It’s an interesting discussion of how a narrow focus on huge “distant horizon” goals can interfere with recognizing – and celebrating – daily accomplishments.

This got me thinking about how small business owners often contribute to their own burnout by setting inflexible – and therefore unrealistic – goals.

Yes, you’re in business because you have goals…you have dreams.  But sometimes the very best business strategy is to LOWER YOUR EXPECTATIONS.

I’m not saying you grind to a halt and give up all your aspirations.  I’m saying sometimes you need to acknowledge those big reality slaps that the world provides and give yourself some breathing room.

I start each holiday weekend with a list of tasks that could only be achieved through superhuman feats.  Three whole days always seems like ample time to accomplish everything.  Of course it never works out that way.  In my younger days, this made me crazy.  Now that I am older and wiser – and slower – I’ve made a deal with myself.  If I accomplish anything – anything at all – on my list of things to do, then that’s a good day.

The same applies to business.  Sure I have goals.  I also have deadlines to meet, clients to accommodate and “the slings and arrows of outrageous fortune” to dodge.  Speedbumps and impediments to success should be factored into your business plan.  The important thing is to not let your long-term goals overshadow your short-term achievements.  If you have only one measure of success, then you’re setting yourself up for failure.

One longtime small business owner I know is always amused when people ask her how “how’s business?”  Her response lately is “well, it’s great…by today’s standards”.  The fact is, she’s generating less income than she did 10 years ago – and working harder to do so.  But she’s chosen to adjust her expectations to reflect the current economy.  If she didn’t, she wouldn’t have ANY good days where business was concerned.  Instead, she’s realigned her perspective for 2010.  By temporarily lowering the bar, she’s able to feel good about her current business achievements again.   That’s not to say she’s given up.  She’s added new products and ramped up her marketing.  She still has goals, they’ve just been adjusted and downsized to fit the current reality.  Her willingness to do this is one reason she’s been in business for so long.

As you work toward your long-term goals, but be sure to relish each daily victory and success – no matter how small.  That’s what keeps a small business owner in love with their business – and loving your business is vital to your success.

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“An ounce of performance is worth pounds of promises.” ~ Mae West

Coverups, scams, cons - the world is full of intentional lies and liars.  Always has been – always will be.

But lately I’ve noticed a massive upswing in a more subtle form of lying – people who just don’t live up to their promises; the ones who don’t put any value on being true to their word.  I know they’ve always been around but there used to be a stigma attached to being one of them.  Now it’s passed off as just the way things are in our busy world.  We all do it.  We’re all guilty.  That’s particularly dangerous thinking for small business, because the backlash can be just as subtle and stealthy as the lie.

It comes down to this.  We’re becoming confused about the difference between promises and lies.  People hate to be lied to, so it’s important to know the difference.  It’s really simple.  If you promise to do something and you don’t – that’s a lie.

Let’s review:

When you promise your customer that you will call them and you don’t – that’s a lie.
When you promise you will do something today, and don’t – lie again.
When you promise an employee a new office, raise or some other perk and don’t deliver – another lie.

Many of us will try to retrofit lies back into promises by means of the handy and versatile tool known as “excuses”.  Yes, there are times when excuses are valid.  Life happens – even in business – and excuses to buy time to correct oversights or explain errors are dandy, as long as there’s follow-through and completion afterward.  Otherwise, excuses are just icing on the “lie cake”.  Covering lies with sugar does not make the steaming pile more delicious.  Do not think for a minute that your customers, employees and co-workers are not aware of this.

What’s the antidote for promises that are really “lies in disguise”?  Small business owners – you set the tone for the way your business runs.  Follow through. Be true to your word.  Be accountable.  All day, every day.  You’ll find it’s contagious.  Your efforts really will pay off.  If you don’t think so, you’re lying to yourself.

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We’re all told that we should have an emergency plan for our homes in case disaster strikes; a supply of food, water,  batteries and cash, a planned fire escape route, a place to meet in case communication lines are down.  We take it for granted that we must prepare for the unexpected.

Then we go to work and pretend that nothing ever would, or could, interfere with our business. The truth is, for small business, every event that affects the owner could prove to be a fatal distraction for the business.

I’ve seen several first-hand examples recently:

You’re a one-person pet sitting business and you’re diagnosed with cancer.  What’s left of your business when you finish multiple surgeries and six months of chemo?

You’re a sales rep and your mother becomes ill and dies.  Understandably, your focus switches from work to family – but all your clients see is that you aren’t returning calls.  How will your clients know you aren’t just ignoring them?

You’re a craft business owner, making your living at weekly art fairs and you end up on crutches all summer.  How do you reach your customers to tell them you’ll be back, and how do you make up for losing your entire peak season?

You’re a business owner who juggles everything and never delegates. You keep everything “in your head”. Your personal life takes a turn for the worse.  How will you keep all those balls you have in the air from crashing to the ground?  Who can step in and handle things until you are able to get your mind back on your work?

How will your business function if you’re in the hospital, lose a family member, have a baby, need to care for a sick relative or get a divorce?  Every personal crisis, every illness or injury, every major life event, has the potential to topple all that you have built - unless you take time to develop an emergency plan before things spiral out of control.  You need a backup plan – and money set aside to keep your business alive during any temporary slow-down or shut-down.

Some things to consider for your emergency plan:

• Could your business survive if you were injured?  If you’re renting a storefront or office, could your business income cover the rent if you’re not able to handle your usual workload for a while?  Could you afford to hire a temporary replacement to handle your work? Find out what you can insure and set up and emergency fund for the rest.
• How would you keep from losing your client base?  What would you tell your clients if their goods or services disappeared for a while?  Figure out what you might do to cushion that blow.
• Who would pay bills and handle payroll if you are not able to?  Who could handle deciding what to do in the event that the bills and payroll can’t be paid?  Make sure someone else has the ability to access your business funds in an emergency and the authority to make whatever financial decisions are necessary.
• Could you run your business long-distance if you need to?  Make sure you can access your calls, your e-mail and your mail – or find someone who can if you aren’t able.  Business owners who don’t travel for business often forget this important step, but what if you need to travel for a family emergency?
• If you have employees, is there a clear chain of command that would allow one of your employees to step in? Someone else should have the access and authority to carry out your emergency plan, and you’ll have to clearly define, in advance, when they would be allowed or expected to step in.
• Is your communication pipeline in place?  Could you quickly inform all your clients, employees and vendors of an emergency situation?  Have e-mail or phone lists prepared in advance.  Keep the people who are vital to your business survival in the loop and they’re more likely to still be there when the dust clears.
• Most important of all, accept your own limitations.  As the owner of a small business, every personal crisis affecting you also affects your business.  If you are not able to mentally focus on your work, or physically able and available to do your work, have someone ready to pitch in to help you stay on track.

We all need a little help now and then.  Don’t add to your woes by letting your business suffer while you are piecing your life back together.   Take the time to put together an emergency plan now.

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Procrastination kills from within.  It will suck the life out of your company. It will break you.

You procrastinate about starting a business at all.

Not the right time…Maybe when things settle down…When the kids are older…When the economy is better…
When I have a little more money saved…

Procrastination can effectively kill your business before you even begin.

You procrastinate about getting a lawyer or an accountant or insurance because there’s no need to spend the money right away.

Build your business on a shaky foundation.  You can always shore it up later, right?

It’s always cheaper and easier to avoid problems than to fix them.  Just one misstep with your insurance, tax or payroll setup can cost you enough time and money to shut you down.

So there you are, a small business owner trying to do it all - with no time and no money. Now procrastination becomes your business model.

In the mad rush, the urge to shove “little things” aside becomes a daily habit.  You’ll just set that aside for “later”.

Eventually, it all comes crashing down and you realize that all those little tasks you set aside are now a huge pile screaming for attention.  And you start finding things festering in that “later” pile – things like forgotten follow-up calls, missed deadlines and lost opportunities.  That’s when those once little things suddenly become priorities – diverting energy and attention that should be focused on important business matters.  You’ve shut your  business down.

Remember, everything you put off can end up taking twice as long to do once you get around to it “later”, because when “later” finally comes you’ll have to dig for the information and deal with damage control as well.

Save yourself.  Save your business.  If there’s a task you can do right now - just do it right now.

Start your business, there is never a perfect time.  Just do it – NOW.

Take your business seriously.  If you don’t, no one else will.   Spend the time and money necessary to build your foundation and assemble the support team you need (legal, insurance, accounting, etc.).  Just do it – NOW.

In the bustle of small running a small business, “I’ll do that later” can quickly become a dangerous habit.  What you put off today has the potential to strangle your business down the road.  Either do it immediately or set a deadline for completion. Call them back, file it, update your calendar, answer the e-mail, pass that information along -   whatever it is, take a minute and DO IT NOW.

You’ll thank me “later”.

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