And that’s OK…

We love those stories of entrepreneurs who rise from humble beginnings with a single idea that turns out to be a goldmine. That’s our definition of entrepreneur these days.

But, Webster defines an entrepreneur simply as “one who organizes, manages, and assumes the risks of a business or enterprise.” That doesn’t sound sexy at all.

The problem is that we mistakenly view the exception as the rule. For every pop superstar covered in meat products and wearing 10 inch heels, there are uncounted thousands of musicians quietly earning a nice living at their craft. Likewise, for every superstar entrepreneur there are unsung hoards of small business owners who provide goods and services while supporting their families and their communities.

According to the SBA, between 60 and 80% of all new jobs created in our country can be attributed to Small Business and Small Businesses account for 30% of the US payroll and 21% of the annual revenue.

Here in Michigan, Small Businesses represent 98.3% of all employers and employ 52.3% of the private-sector workforce.

That’s more than a significant contribution, that’s a vital contribution.

Just because you haven’t thought of the next big thing (yet), doesn’t mean you can’t own a business and make a difference. There is no shame in not being that one-in-a -million inventor. Too many talented people use that unrealistic goal as an excuse for not having their own business.

Franchises are the smart way to go. They offer a proven concept, from product/service development to marketing materials to hiring and training. Most would-be business owners don’t realize that you’ll end up paying for that knowledge – one way or another – anyway. Why not buy into a successful business model and jumpstart your career as an entrepreneur?

Another misconception is that your individual talents and skills won’t shine as brightly under the umbrella of a franchise. That’s not true. The responsibility for managing your operations, motivating your employees and making your franchise location a success is all yours. The franchise model gives you a head start, but your success is your own.

Owning a franchise is more exciting and challenging than you might expect. There are franchise opportunities to suit almost everyone’s interests, abilities and budget. If you choose wisely, buying a franchise could be the smartest choice you’ll ever make.

The Big Salad currently has three successful locations in Michigan (with a fourth opening this spring) and is poised for rapid expansion in Michigan and nationwide.

The Big Salad is based on a lot of fresh ideas. It was carefully designed from the very beginning to be a franchise. It’s a great choice for someone who’s ready to make a career change. No restaurant experience is required. No cooking is required. That’s just the beginning of what makes this franchise so intriguing.

Here’s what Bornoty had to say…

What makes The Big Salad Different?

“What we do is so unconventional in the traditional restaurant world. When we hire managers, we rarely bring in people with restaurant experience. We bring in people who care about people. We’re in the people business not the restaurant business. Nothing is as rewarding as seeing someone enjoy a meal. You want them to leave happy. Everything in The Big Salad environment is working to achieve that goal.

Having a tech background lets me understand processes. I had no background in the restaurant business when I started. Every process and procedure was written by me, so it’s easy to understand. I’ve spent a lot of time figuring out what customers want. Focus groups helped create the entire experience – from color to music to chairs to flatware, even pricing and menu layout. A key difference is the freshness and quality of our ingredients. Produce is an art form. I know more about produce today than anyone ever wants to know. I’ve lined up the best providers and use only top quality U.S. produce.”

Who is your ideal franchisee?

“I have turned people down. I always say I don’t sell franchises, I award them. I’m a passionate guy and I love what I do. If you just want to serve food, you won’t succeed. You just have to be a ‘people person’ – we take care of the rest. From the day someone signs with us, we help them select the site, help with the build-out and setup – we take care of everything. Everyone must use our systems so we can support them. We maintain remote access to everything, and everybody, so we can see a problem before it becomes a big problem. You just concentrate on your staff and your customers.”

Why a food franchise?

“People will always eat. People will eat before they pay their rent. People are willing to spend more on themselves – and when it comes to food, they’ll get what they want.”

Why this food franchise?

“If you’re looking for a food franchise, this one is easy; no ovens no grills – easy to run. Food comes prepped and ready to go, no worries about cooks not showing up, or grills and grease. We don’t even use a microwave. We have great hours – managers are on a 10am-6pm shift – so you can have a life. It’s also easier to hire staff in a healthy alternative environment. Plus, we offer a relatively inexpensive price point.

I opened my first location in Metro Detroit in 2008 – a month before the market crashed in October. The restaurant industry is not very high tech. Having a tech background allowed me to adapt very quickly and control costs. That’s what has allowed us to succeed and grow in a tough market and a down economy.

We’re always reinventing – and the franchisees benefit. Long term success boils down to the franchisor’s willingness to change, and willingness to listen to franchisees and to constantly change. We test in corporate stores. I’ve studied a lot of franchisors to see what works and what doesn’t. I’m a firm believer in corporate locations. How can you know what your franchisees are dealing with if you haven’t experienced it yourself? I think the secret to success is keeping a few corporate stores.”

Final thoughts?

“As corny as is sounds I believe what we do here changes lives. Our customers come to The Big Salad to eat healthy, and when people eat healthy they look better, feel better and are happier. We have a very clear path about where we want to go and what we want to achieve.”

To learn more about The Big Salad visit www.thebigsalad.net 

Today’s consumer is very educated, and armed with powerful internet and social media tools. Consumers can go online and quickly compare pricing and reviews on any item – at any time.  Consumers also understand the value of the merchandise that they are purchasing. Just because an item has a branded label on it does not mean that all the products of that brand are of like quality. Remember, you always get what you pay for!

Consumers have also been trained to look for sales. Many only shop when they see the word SALE.  Years, ago, the auto industry started rebates and, to this day, many car shoppers still wait for rebates and incentives before making their purchase. Will the J. C. Penney shopper do the same?

I’m sure that J.C. Penney will see some great sales figures for the launch of this new pricing policy, but I am waiting to see if these figures will continue for the long term. Will the JCP shopper still wait for the special sale dates or embrace the new “fair and square” pricing strategy?

Being in the retail industry, and one who never likes to see a retailer fail, this will be an interesting case to follow.   Personally, I can’t remember the last time I shopped at J. C. Penney, but I’ll be there after February 1^st to check out the new pricing concept.

Can this new strategy bring long term success?  Time will tell…

Events in recent weeks have made me think quite a bit about a basic rule of business: choose your employees and your business partners to fill gaps in your own knowledge, style or mode of operation. Build your team with balance as a primary goal.

Small business owners often overlook the need for balance because they feel so personally connected to – and responsible for – every aspect of the business.

I just read a great post on Inc. titled, Be the Beatles, Not A Flock of Seagulls. The author, John Greathouse, makes the case perfectly as he discusses key attributes of successful startups.  He talks about the importance of group dynamics – how the different, but complementary, talents of each member of the Beatles created a balance that gave their work longevity and broad appeal.  It’s a wonderful example of what you need to do in any venture.

Every business owner has talents, strengths, vision and capabilities. Every business owner also has gaps in their knowledge, gaps in their methods, gaps in their vision, gaps in their skillset.  You must fill those gaps to keep your business in balance. It’s not about admitting weakness – it’s about showcasing strengths.

The key is to build your business team around people who not only suit your goals and vision, but also seek out people who have skills, knowledge or a mindset you lack.

If you’re a dreamer, you need some practical people around you to ask the hard questions and keep you grounded. 

If you’re a linear thinker who never strays from the path, you need to round out your team with creative, spontaneous people who embrace new ideas and run with them. 

If you’re a compulsive early-adopter, you need someone to say “do we really need that now?” 

If you are resistant to change, you need a team that will suggest new options and guide you to new opportunities.

Maybe you’re great at marketing but bad at sales.  Find someone with stellar sales ability to fill that gap.  Are you great at sales but baffled by tech?  Fill the gap with a team member who can introduce and manage new tech options.  Make a list of areas where your skills are weak;  also tasks you avoid because you hate doing them.  Patch those holes in your business.  Fill the gaps.

Surround yourself with people who support your strengths but also bring their own ideas and abilities. You want balance, not conformity. Build a team where members  complement each other, not just compliment each other.  Many people confuse the two.  To complement is to “complete”.  Of course it’s easier to have everyone on exactly the same wavelength – patting each other on the back for a job well done.  That feeling of “sameness” might be comforting, but a team that is always in total agreement doesn’t have leverage and longevity in the marketplace.  True balance is harder to achieve, but the rewards are worth the effort.

“You keep using that word. I do not think it means what you think it means.”  - 

There’s a lot of negative talk going around about negativity.  First of all, let’s get one thing straight.  It’s not negative to say something could be done better – quite the opposite.

Saying something is wrong and can be fixed, or is adequate but could be better, is… POSITIVE.

You wouldn’t think it would be necessary to point this out, but I find many business owners and managers are confused as to what is really negative.  They think admitting a problem is “negative”.

I once worked in an office where they had just cut the commission rate of all the sales personnel.  Tension was very high.  I asked the regional manager for extra toner for the printers, explaining that I didn’t want to run out when every little thing was setting people off.  I wanted to be proactive and do what I could to keep everyone happy.  His reply?  “Don’t be so negative!”  Apparently admitting that there was a problem was treason.  He told me “if you think happy thoughts and say happy things, then good things will happen.”  That didn’t work so well for him; the next expense the company cut was his job.

Burying your head in the sand is the real negative.  Positive change is always sparked by identifying areas – no matter how small – where improvements can be made.  This is true across the board –  from business to science to politics to our personal lives.

Gandhi… Mother Teresa… Martin Luther King Jr. – none of them said, “things are fine just the way they are.”  Neither did they say, “I don’t see any way things could change.”

Remember Henry Ford and his “negative” idea that there had to be a way to build cars faster.  Imagine Steve Jobs using the words “good enough.”  The best entrepreneurs are people who identify and market their solution to a problem and then never stop improving on their own products and services.

Truly negative people ignore problems, ignore solutions -and ignore the advice and ideas of others.  If you want your business to thrive, you must remain open to new ideas. You have to be ready and willing to identify areas for improvement and make the changes that will drive your business forward.  That’s the real plus in this equation.

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.

The world of franchising can open the door to wealth for those willing to seek out this opportunity, but finding and selecting the right franchise for you is a major job in itself. Selecting the wrong franchise can lead to major losses in both time and money. My first piece of advice is, do not make your franchise selection based pure emotion. Many people see a hot franchise and jump on the bandwagon because they think there’re going to be shut out of the opportunity. Slow down. Many franchises start off fresh and exciting, but those same franchises sometimes stumble and fall just as fast, or even faster, than they grew. That’s when things get ugly.

Ask yourself these questions:

Does this franchise fill a need in the marketplace?
Will this need last for over five years or more?
Will this franchise hold up in any economy, good and bad?
Do you believe in the goods or services this franchise offers?
Does this franchise fit your life style?
Can you afford this franchise?
Is this franchise an investment tool, or is it you only income?

If you can answer yes to all these questions, then you need to explore and examine the franchise company.

There are many questions to ask during this examination:

How long has the company been around?
How many franchises have failed?
What kind of support does the company give its franchisees?
What type of marketing support does the company give?
What are all the costs involved in starting the new venture?
How much operating capital do I need?
Does the company plan on changing its products or services if the economy or demand for the current goods or service changes?

These are just a few of the questions that you should ask. The best way to really examine the franchise company is by talking to both the successful and unsuccessful franchisees. Study both the good and the bad outcomes. This is where the real truth comes out.

My recommendation is seek help when you are searching for a franchise, hire a consultant that has been involves in franchising, one that understands people and business. One last bit of advice, if you’re a person that wants to be creative and thinks you know better than the franchise company. DO NOT BUY A FRANCHISE! When you by a franchise, you are buying a proven system that works, if it’s not broken don’t fix it.

Paul Bensman offers business coaching and consulting.  Contact him to learn more…

For the last four months, I have been working on a lease for one of my clients. It came down to one issue and both parties thought the ball was in the other’s court. I finally invited the other party to lunch to discuss the problem and in five minutes the issue was resolved. That meeting ended four months of email and phone calls. One simple face to face meeting finished the deal.

We must make a change in today’s business world; business is becoming less personal and more mechanical.  It’s fast and easy but also dangerous.  One typo can kill a deal or piss off the other party. I have watched my son and many other young people get into arguments on their phone while texting.  Not only do they cramp their fingers, but on most cases the situation gets worse, not better. If each party would just pick up the phone and talk, their issues and feelings could be communicated. A face to face meeting could resolve things even faster. You can’t reach out and hug someone through the phone.

Let’s try to bring some personal contact back to the world of business. Digital communication robs you of important cues like tone of voice and facial expressions. We read body language, whether we realize it or not.  In face to face meetings, you can see and hear those signals – and avoid problems.  When you communicate exclusively by email, text and chat, you are working blind.

“Nothing can stop the man with the right mental attitude from achieving his goal; nothing on earth can help the man with the wrong mental attitude.” –

As we wind down 2011, we look back and wish we had changed a few things in our lives. We wish we could change some of the choices we made, both personal and professional. We all control our destiny by our decisions, and by making the right decisions we can make life and work both enjoyable and successful.

Many people live in the past and never move forward. In business, people who hold on to past failures seem to fail again and again. Instead of holding on to the failures, you must learn from them. Sixty percent of Forbes 400 richest people have had at least two business bankruptcies, yet they moved forward with their success.

Ring in 2012 with a new attitude. I call it “PMA”- Positive Mental Attitude. If you’re stuck in a job that you hate, start planning a new career, or even your own business. Life can be short. You must embrace every day and enjoy every moment. Start that business you have been dreaming about for years. Turn that dream into a reality! I respect the person who tries and fails, more than one who never tries and regrets it.

 

I wish everyone a Happy, Healthy, and Successful New Year!

Paul Bensman
Founder and  CEO, 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!”