The Top 10 Excuses For NOT Achieving Music Business Success

Over the years, I’ve heard many excuses from aspiring artists on why they are not successful in the music business. I’ve compiled a list of the “Top 10 Excuses for NOT Achieving Music Business Success”. The difference in winners and losers is winners take action and losers make excuses for not taking action.

Here is my list of excuses:

1. I’m too young

2. I’m too old

3. I don’t have enough money

4. I don’t have enough contacts

5. I don’t know what to do

6. I just don’t have the look

7. Other people are holding me back

8. I don’t live in the right city

9. I have too many other obligations (kids, marriage, job, etc.)

10. I’m not getting enough exposure

Let me attack these excuses one by one.

1. I’m too young

There have been many young people who have made it in the music business. In fact most people get started when they are young. Currently, there are young people who top the music charts like Justin Bieber. Michael Jackson started when he was 5 years old. Destiny’s Child found success when they were teenagers and look at there members now. Who hasn’t heard of Beyonce? If you are young, I say you probably have a better shot at being successful than someone in their 70’s. We’ll also dispel the “old age” excuse in #2.

2. I’m too old

I remember one of my friends stating to me that if he was not successful by the age of 30 in the music business, then he would quit altogether. Well, the music business is very strange and instead of focusing on making great music and being a great entertainer, my friend focused on his age. Al Jarreau was well past 30 when he became successful. Most recently Susan Boyle has become an international success, not because of her age and her looks but because she has talent.

3. I do not have enough money

I’m sure glad I got over this excuse early. If you do not have any money then you should find someone to invest in your music career or learn how to advance your career without using too much money. There are all kinds of guerrilla marketing techniques that aspiring artists can use to further their careers. Go to the library and get a book on guerrilla marketing and you see what I mean. Better yet, Google it!

4. I do not have enough contacts

Once again let’s shoot this excuse down for good. We are in the information age. There are networking sites like MySpace, Facebook, Twitter and many others online that will allow you to make all the contacts you need. In the offline world, you can go to music industry conventions to learn about the music business and build lasting relationships. I can’t even remember all the contacts I’ve build over the years but I will never say I don’t have enough contacts.

5. I don’t know what to do

This is another tired excuse. There are plenty of books in the public library on everything from how to make a demo to how to book your own shows and make money. If you really don’t know what to do, find a mentor and follow their path. Even if you don’t personally know them, success leaves clues. Figure out what they did and duplicate it.

6. I just don’t have the look

Of course there are plenty of gorgeous artists in the entertainment industry but if you don’t think you have “the look”, then you probably need to quit anyway. I’m serious. There have been some really blockbuster successes that were not “lookers”. Besides, beauty is in the eye of the beholder which means different people are attracted to different things. This is more of a self-esteem issue and you should probably work on boosting your self-esteem first if you plan on being in the music business. Sometimes people can be mean and if you have thin skin or are easily offended, this business is NOT for you.

7. Other people are holding me back

Really? Unless you are incarcerated or someone is holding you against your will, no one can really keep you from achieving your music goals. You need to look at the “man in the mirror” and figure out what you need to do to get going with your plan.

You do have a plan don’t you?

There can be negative people in your life but if that is the case then if you are an adult, you can remove yourself from their negativity. So many artists hear the words, “I don’t think you can make it in the music industry.” If someone is telling you that, you need to get as far away from them as possible because you’ll begin to doubt yourself and your talent.

8. I don’t live in the right city

Thirty years ago this might have been true but once again the Internet shoots this excuse right in the heart. There used to be a time where you had to live in New York City, Los Angeles, or Nashville to make it in the music business. The Internet has leveled the playing field so that no matter where you live, you can make money and get discovered if that is you goal.

9. I have too many other obligations (kids, marriage, job, etc.)

I actually struggled with this one for a while. I put my music dreams on hold to take care of my family and that was a very noble and responsible thing to do. However, I never stopped writing and moving forward with my goals. I learned how to make beats and I learned how to market myself on the Internet as I’ve said to you so many times before in this article.

I did not make excuses for what I was doing. I just need to find a different way of achieving my goals and there is absolutely nothing wrong with this approach. Even if you have to spend 30 minutes a day doing something toward making you music dreams come true, that’s better than doing nothing at all.

10. I’m not getting enough exposure

I can lump this excuse in with some of the others above but here is a different viewpoint on exposure. Internet, Internet, Internet! All you need are some basic pieces of equipment and you’re on your way to getting massive exposure. You first need to take a course in guerrilla marketing so you can learn how to market yourself with little to no money.

I would also suggest getting a digital camera and/or a camera that records video. You can post pictures and videos all over the Internet for your fans to see. Need to do a live show? Have someone record you performing live and post it on the Internet on sites like YouTube. Posting on a site is not enough though. You need to learn how to bring traffic to your postings and that is why I recommend learning Internet marketing.

People are making a killing on the Internet and it doesn’t take millions of people or millions of sales to make you successful.

I’m sure there are more excuses than I’ve listed here but I do believe these are the ones I’ve heard the most. If you are using any of these excuses above, I suggest you take a good look at yourself and actually figure out if this business is for you.

In closing, I would like to leave you with a quote. I’m not sure who the author is but when you start making excuses, always remember this:

Excuses are the tools of incompetence. Those who use them build monuments of nothingness that shall not amount to anything. Therefore, there are no excuses



Are Business Plans a Waste of Time?

I recently attended a national entrepreneurship conference along with a number of other college instructors and well-known entrepreneurs. I found it interesting that two concurrent sessions offered conflicting points of view on business plans. One session featured a panel of successful entrepreneurs questioning the real world relevance of business plans. The other session focused on teaching students to quickly and correctly develop business plans.

I was intrigued by the panel discussion so that’s the session I attended. None of the entrepreneurs on the panel had ever written a business plan-at least to launch a business-yet they were all extremely successful. The revelation that they did not use written plans is not surprising, most entrepreneurs don’t. One reason given by the panel for forgoing a formal business plan is the natural tendency for entrepreneurs to cling to a business plan they wrote due to the investment in time and effort. The reality, they said, is that things change so much in the real world of business that the assumptions underpinning a business plan must often be altered or even abandoned to allow the business the flexibility necessary to survive. In addition, the entrepreneurs were adamant that a good plan will not make a bad idea work and a great idea probably will not be hampered by a poorly written plan-or no plan. Another concept discussed in the session was that what the entrepreneur is really selling to the venture capitalist or angel investor is the entrepreneur. One of the panelist remarked that, “If the investors believe in you, they will invest in your business.” The consensus from the panelists was that investors look for passion and vision in addition to the idea. They must be convinced that the entrepreneur is capable of persevering and making good decisions and adjustments to keep the business moving forward. Since there were college instructors in attendance, and most entrepreneurship programs require written plans, all entrepreneurs on the panel diplomatically agreed that requiring a business plan as part of a course or program of study was not a waste of time. They concurred that the process itself could offer valuable insight.

As a college entrepreneurship instructor I try to convey as realistically as I can the realities that entrepreneurs face. After attending this conference I realized that students may have difficulty reconciling the two seemingly conflicting points of view presented in the workshops. Certainly my students are aware of the statistics which suggest that most entrepreneurs enter a business without a written plan. To attempt to convince them otherwise would be disingenuous. If the panel was right why bother with a business plan at all? I believe that the answer can be found in the last nugget offered by the panel of entrepreneurs; it is the process that is most beneficial.

The planning process does not begin with the business plan. In fact, it is a mistake to write a plan too early. A feasibility analysis should be conducted prior to writing the plan so that the key assumptions underlying the plan are properly vetted. The research conducted as part of a feasibility analysis can also lead the entrepreneur to better understand their business. For example, if a focus group is used to better understand the target market, new insights can be gained which can lead to the development of a more competitive business model. The results of the feasibility study and the articulation of a compelling and competitive business model are the most critical components of a business plan. Coupled with a cash flow analysis these facts can be critical when procuring the necessary resources to launch a new enterprise.

Another point I like to make with my students is that the importance of a business plan depends on the type of business. A retail store with large capital requirement, inventory, payroll, etc. is completely different than a new venture in a technology driven industry that is rapidly changing and evolving. A business similar to Facebook, for example, has much less need for a formal business plan than the owner of a new sporting goods store.

In addition, the amount of borrowed capital required to launch a business will impact the need for a formal plan. Venture capitalist typically will want to review at least certain sections of a formal plan as part of their due diligence.

I believe that the entrepreneurs had a valid point regarding the tendency for business owners to become too attached to a formal plan. A critical time occurs when the business is launched and the entrepreneur begins receiving real feedback from customers. The decisions made at this juncture can make the difference between the success and failure of the venture. Should the entrepreneur hold to the assumptions of the plan or should minor or major adjustments be made? The entrepreneur needs to remember that the business is not on autopilot just because a polished business plan is in place. Adjustments must be made as conditions warrant.

The panel was not wrong when questioning the necessity of a formal business plan, but the planning process is distinct from the plan. A business plan, whether required or not, will enable the entrepreneur to better articulate their vision which may make writing a plan well worthwhile.



First Steps for Your Internet Business

How do you get started with your new Internet business?

Record 30 minutes every day (product creation)

Write a daily email (15 minutes or so)

Write 3 articles (as you practice you will get faster – 45 minutes or so)

Work on your sales letter and launch emails (1-2 hours)

Can you imagine what things will look like this time next year if you follow this simple plan?

Now, it might be tough at first. It might even hurt to do these things initially because you have to make yourself work. It’s not always easy to create new habits!

For example, you begin a new exercise program at the gym. It might be simple, it may only have 6 exercises. But, when you go do the exercises, as you’re supposed to do them. And you do them for 45 minutes, when you get done, you’re in pain. Hopefully not bad pain, you’re just tired, and a little sore. You worked hard, it’s not easy. Then, tomorrow, when you go back to the gym, it’s even harder.

It’s a simple workout. 6 exercises. But, it’s hard to do.

What I’ve just given you will have some elements that are hard. I can’t tell you what they’ll be. For some of you the hardest part will be recording. For some of you, the hardest part will be that outline. For some of you, the hardest part will be putting a price on it. For some of you the hardest part will be simply taking my word that you can sell your coaching program before you create the lessons.

For each of you, there’s going to be a different thing that’s hardest. Here’s the thing, I’m going to look you in the eyes over this phone right now, as I speak into the phone, as I speak to you. If you’ll do everything I’m teaching you now. And, especially follow the daily instructions I’m going to be giving you in those 7 modules. You will complete all of this. Now, some of you, if you put 8 or 10 hours a day into it. You might complete everything in 2 weeks. Some of you, that can only put 2 or 3 hours a day, maybe it’ll take 8 weeks instead of 7. Maybe it will take 9 weeks instead of 7.

Maybe if you type a little slower, maybe it’s going to take you an extra week. Maybe if you’re a really confident person, and you can whip out 2 or 3 hours worth of recording in one sitting, instead of 1 a day like I’m going teach you. Then, perhaps, you’re going to get done faster and it only takes 4 weeks instead of 7. But, I can tell you this, the instructions I’m giving you today, the instructions that are on the download page that you’ve already received. The instructions that are going to be on the weekly modules, the daily instructions. They’re complete. If you do everything I’m giving you to do, you are going to, in approximately 7 weeks, 5 for some of you, 9 for some of you maybe. When you complete all of those assignments, you’re going to have a bona fide business. You’re going to have a list, you’re going to have a squeeze page, you’re going to have traffic, you’re going to have articles, you’re going to have products, you’re going to have a coaching program. It’s all going to be automated, and you’re going to be able to start building bigger and bigger.

That’s what you’re going to have, if you simply… do… the… work.



Making Your Home Business More Accessible

More and more people are thinking about giving up the stress of the rat race and settling in to the more attractive proposition of working from home. Not only does working from home mean we no longer have to waste hours of our day travelling to and from work, we can also be much more flexible with our working hours. So long as the work is completed on time, it often doesn’t matter whether we start work at nine o’clock in the morning or at midnight.

But there are times when it is still necessary to meet and talk with clients, which can cause problems. After all you can’t exactly invite them round to your house and sit in the living room while you are talking your way through a business deal. You need to ensure your image is always as professional as you can make it.

But thanks to the internet you no longer need to feel shut off when you are working from home. There are plenty of ways that you can be in constant contact with your clients and customers if you need to be, all of which can give you the competitive edge you need over your rivals.

Many people now have access to their own webcam to add a further dimension to their online activities, and for home businesses these can be an excellent way to keep in touch. It’s important to remember that even though you are at home, you need to make sure you are presentable all the time if you have a webcam. You don’t need to wear a suit but you should make sure you don’t look scruffy otherwise people might assume you don’t pay much attention to your business either.

Webcams also give you the opportunity to add video conferencing to your business portfolio. Meetings can be prearranged and you can discuss business opportunities, ideas and jobs without leaving the comfort of your own home.

Video conferences are very easy to set up – so long as both people have a webcam and are set up and ready to go you can discuss urgent business matters straightaway. Webcams enable you to save time when conducting your business; instead of arranging to meet at a restaurant or coffee bar to have a discussion, it’s a simple matter of turning on your computer to get in touch.

In a world where more and more people are deciding to go it alone and work from home, video conferencing online can give you the extra edge you will need to succeed over your competition. It’s the easiest and most efficient way to meet with your clients and further your current business interests, as well as bringing in new ones.



7 Ways to Grow Your Business Doing Webinars

1. Webinars are a great marketing tool to get new customers onboard.

By doing an online presentation you give those who attend your webinar an excellent chance to get to know you, like you and trust you. You introduce yourself and your business to potential clients.

It’s a powerful way to get people to know you and trust you enough to become your client, because a webinar is a live, interactive communication with you as a passionate expert.

When you communicate with your subscribers by sending a message or a Newsletter via email, it is certainly good for your marketing, but it is harder to get results and sell your products by doing only that. People buy from people they know, like and trust, and this is where webinars come. By doing an online presentation you build your credibility, you give people an excellent opportunity to get that feeling, to build a good rapport with them, to bond with them, to get your ideas across, to resonate to their style of doing business, so that they can start doing business with you.

When you host a webinar your audience immediately view you as a passionate expert about your services, they learn about your achievements, your experience, your knowledge in the field!

There’s always an instant assumption that the presenter is an authority figure in their niche if they are able to host a webinar. So think about that!

2. Webinars give you massive leverage.

You can run a webinar with large numbers and there are no geographical boundaries. With a webinar you have an opportunity to spread your word and handle multiple clients at once and from all over the world, not just your own town, city or country, so you interact with a lot of people at the same time, while still offering great value.

You can find an expert oversees and invite them to speak to your audience on your presentation. This technology allows you to interview anyone you want for a training session. Or to introduce a new product that is coming on the market.

Do you see the leverage and the power? You leverage your time, your resources, your money, your energy, technology, internet – everything.

3. Use webinars as a tool to build loyalty with existing clients.

Webinars are an amazing way to add value to your existing clients because by running webinars you give people more access to you which means more interaction.

Not only webinars allow you to communicate with your customers on a more personal level, but they allow you to keep in touch with them after the webinar, because all webinar softwares send a thank you email after your presentation to each of the attendees and invite them to send you a question or feedback.

4. You create a point of difference by doing webinars:not many businesses are using webinars; and even fewer are using them well.

You can stand out by adding them to your service range.

When I spoke to business owners at the Women Mean Business event in Woolwich a few months ago, out of 11 entrepreneurs only 5 knew what webinars are. Although they were interested in doing them for their business, none of them were actually were doing them in their business at that point, although all of them wanted to.

By doing webinars you go a way ahead of your competitors and your business stands out from lots of others in your niche. This is a great advantage for you!

And this is why it is crucial. According to Google research it currently takes 10,2 interactions between a buyer and a seller before a buyer will open their wallet. So you need to make sure that as many interactions on the way to purchase are taking place with you or your company or your website and webinars serve this purpose very well.

5. Provide customer support or product support using webinars:use webinars to answer customer questions, explain how they can use the product more effectively, and get a feedback. Isn’t that great to improve your service?

You can offer a more effective service to your clients & even sort out your customers’ problems in a timely and efficient manner. And again this takes your business to a whole level because by doing so you create a point of difference.

6. You get more exposure for your business online.

This is what you need to do to achieve this. Record a webinar to create instant products: many webinar services have a recording feature built in, so recording your webinar is really easy.

How can you use the recording? You can send it to those who registered for your webinar but couldn’t come, so they can listen to the recording and still benefit from your service.

I also suggest uploading your webinar recording to your YouTube channel to get people to see it, to attract new customers and get more exposure for your business.

You can make a video out of each part of your webinar presentation and upload them separately. Thus you will have a whole range of videos and all of sudden you end up with a lot of content by doing just one webinar.

What can you do with all this content? How do you make it work for your business?

You can upload each of your videos on YouTube, Facebook, LinkedIn, Google+, Pinterest, your blog or website and because your social media accounts can be connected with each other, all your followers will immediately know and start looking at your content!

Do you see how you can leverage something you have done once?

You have run a webinar once, but you use your webinar presentation multiple times for a variety of purposes to promote and market your business.

One more thing. A webinar recording can be replayed over and over again, generating income for you on autopilot. You can have as many as 50 different automated webinars playing every day!

7. Webinars can help you sell more of your products and services.

At the end of a webinar, after you’ve spent 60 minutes giving great content to your webinar attendees, you can make a special offer to them.

Let’s speak facts and figures here. Webinars typically outsell written sales letters 10 times over. Now what does that mean? When you send an email with an offer to buy something from you, you can expect on average 1 to 2% of sales. When you sell something on a webinar, a typical conversion rate is between 10 and 20%.

Let me share one of my real live examples. I was selling an online service for $27 via email. The email was sent to 1600 people, 20 people bought it. That means the conversation rate was 1,2%. If you want to get more sales, do a “show and tell” webinar, demonstrate live the benefits of your service and the solution it brings. And see your sales soar.

Another example for you. I recently hosted a webinar and invited an expert. That was a test webinar, where we tested a new product. She made an offer at the end of the presentation at the cost of $97. Out of 25 attendees, 5 people bought it. The conversion rate was 20%, which is a very good result. Now I know it works, I can do it on a bigger scale.

Furthermore, webinars allow you to sell high-ticket offers priced at $1,000 and higher, whereas it is difficult to sell products at more than $200 directly from a website. As long as you have a good offer and the targeted audience, it is normal to reach a sales point at between 8 and 10% at a $1,000 price point.

In figures that mean that if you have 100 targeted attendees on your webinar, you can bring in between $8,000 to $10,000 in sales from a single webinar! This takes some good practice of course, but it is worth all the effort, isn’t it?

The fact that more traditional methods of promoting and selling products become less effective than before and the fact that more and more consumers prefer to browse and shop online, make webinars more appealing than ever before as a way to drum up and draw sales.



Setting Business Goals – Overcoming the Fear of Failure

Everyone starts to consider goals for the future when the year comes to an end. You may be in a position where you have been considering starting up your own business, or you may have a business but are ready to take it to the next level, but for one reason or another have been putting off the steps necessary to ‘go there’. You have to set goals to make it reality, however. Often fear is what holds us back from setting goals. What if you fail? Or what if you succeed?? You want it but it scares you terribly!

Less than three percent of all Americans have written down goals. Eight out of 10 businesses fail within the first 3 years because a surprising number begin their businesses without creating any plans.

They say that if you don’t plan out your journey, you can’t get there. If you envision your business going somewhere, how do you know where ‘there’ is without that plan written down? Another saying is ‘Failure to plan is a plan for failure’. But if you never set up your plan, you can’t fail, right? However, then you will look back at your life, 20-40 years from now and find yourself saying, ‘I wish I had…’ Life is too short to allow yourself to limit your possibilities.

I believe that we all really can achieve anything that we believe is possible. We do need to plan for those dreams, however, and be realistic. Just thinking about them will not make them reality, and just opening the doors and saying we’re in business will not make our dreams a success. We create our own reality, whether that’s success or failure, based on the research and work we are willing to put into making those goals happen. What do YOU want to achieve?

Let’s consider some tips to help you create and achieve your goals and create the business of your dreams:

Share your goals with others

When I talk to a potential client, the first thing I have her do is tell me what her three top goals are with her business. For some people, this is the first time they have done this exercise, but for everyone it can be a powerful step to help them share goals that sometimes they have never spoken to another person about. That’s one of the tips in accomplishing goals – share your goals with others. In fact, if you share your goals with many people, it does tend to propel you forward. Call it fear or call it meeting a challenge you don’t want to live down if you fail, but it does work!

Challenge yourself with big goals

Often we need support to think big. Most people tend to set goals that are easy, because they are afraid of failing, but you really can achieve anything; it just may need more planning and time than you initially considered. This is one of the benefits of setting up goals and working on plans to make them happen. As you create your business and marketing plans, you are able to tell if your goals can be accomplished within the time frame you envision initially. If you make your goals too big, you can’t realistically achieve them. But if you make them too small, they become de-motivating. The best rule of thumb is to make them challenging but realistic – just a bit uncomfortable but challenging enough to stir up your passion and sense of excitement.

Cut big goals down to manageable pieces

As mentioned above, you want to think big and challenge yourself. But some goals are huge and need to be broken down into sections so they can be accomplished realistically. If you want to create a business that earns $100,000, and you have no access to outside funding, you may need a few years to make it happen. Cutting big goals down into multiple smaller goals can help you gradually grow into your larger goal and give you an incredible sense of accomplishment.

Even as you create your smaller goals, break them down into daily, weekly and monthly goals. Making them this manageable helps you check them off your ‘to do’ list much more quickly than larger goals. You then get a greater sense of accomplishment, which is very motivating for the next series of goals.

Make your goals specific

I always push my clients to narrow down their goals into exactly what they want to achieve, which helps ensure their success. If your goals are vague, how will you know you accomplished them? How much do you want to make, by when and by doing what? Then you create action steps to achieve these goals. If your goals are specific you are able to measure your progress, but if you have not set up specific goals, what will you measure?

When creating your goals, be sure to have the end in mind. As with a trip, to make it successful, you have to know where your final destination is. If you don’t know where you want to go, how will you know when you get there? Then, once you have made that ultimate goal, you will be ready to set new goals.

Set a time

One of the hardest things for my clients to do is to set time frames for their goals. This really puts meat into what they want to create! They worry about not meeting their time frames. However, as they set up their action plans for their goals, they eventually see what is possible with planning. Putting a time frame to your goals gives you a clear target to work towards. Without a time frame, your goal of ‘earn $40,000’ could end up a goal you work towards your entire life. In fact, you may relate to this very well, as I have met many people who have created goals without time frames and, years later, are still working on those goals. The number of people I meet who tell me they want to create their own business, but have not done anything about it, is too great to count.

Measure your progress

As mentioned above, as you create your goals, you need to also create a way to measure your progress. You do this so you can tell if a strategy is working or if your goal is as realistic as you initially thought. One example would be you launch a website and a goal is to attract 1,000 people within 3 months. You would want to track the number of visitors to see if you were meeting that goal. If not, you would need to make adjustments in order to meet a new goal or achieve that goal.

Get support

One great way to move people forward when working on new business goals is by getting support. Everyone who has achieved great success can tell stories of a mentor, coach, colleague or consultant who helped them at various levels of their success. Don’t try to go it all alone; everyone needs someone to talk to and share wins, ups and downs, worries and victories and private doubts with. That support can come from a business coach, a support or mastermind group, or even from others in a group coaching program, and that support can change with each stage you are in. Support from others gives the advantage of other perspectives or ideas that may not occur to you. We all need someone to run ideas by, to check to see if we’re on track, or to keep us motivated. Family can be a great support, but often family and friends are too close to you to be able to provide an objective outlook to your goals and strategies you use to accomplish your goals. Family members tend to want to ‘fix’ things for us, where someone like a coach or group can give ideas or just be an ear to listen to our concerns or thinking process.

It can be scary to consider starting a business from scratch. Many people fail because they aren’t willing to put in the time, effort and work necessary to understand what is realistic and what they can expect. However, any successful business professional will tell you that, with planning and setting realistic goals, you can create a thriving business. Don’t allow fear, uncertainty and self-doubt hold you back from at least taking the steps to investigate creating a business you have been dreaming of for years. Live your life as if this is your only chance to live your dreams. People seldom regret taking chances to enhance their lives, but many people regret not acting on a dream.



Using Business Broker In the Franchising Industry for Franchise Sales

Franchising companies often use Business Broker to help attain sales goals. Here is an interesting fact. Most large Business Broker Chains promote franchises and charge franchises money to join their network and programs. Not chump change either. Then the Broker Network takes all the logos and prominently displays them in ads and websites, and titles, meta tags and key words those pages. So as to attract customers, franchise buyers. But when a franchise buyer calls up, they are sent to the local business broker who secretly hates franchises?

Why? Low success rate? No, high success rates, the broker cannot resell it in the future when it goes South, because it never does. Then he cannot get money to appraise it and put it back on the market and sell it again. In many places the same broker sells the same small business or company over and over again. Yep. That’s right, who wins? The business broker’s buddies in the Community Service Club, the attorney helping the deal along, the accountants doing the books and of course the broker who has an appraisal certificate and of course the appraisals happen to come out where? At the exact price for a quick sale and fat commission.

How fat? Fat enough for the FTC to regulate the pills and ads of such that the broker takes. $20,000 plus. But the broker will say it is hard work? Really? Selling the same company twice, three even sometimes four times is hard work? BS. But of course with franchises, the franchise fee is used to help offset costs from the franchisor’s administration costs so normally the broker can only get $10,000 to 15,000 commission. Gee Whiz whose business is he going to push first? The one with the highest commission, just like a stock broker or financial planner tries to sell insurance annuities first, the commissions are much higher, why, because they are not as good and are harder to sell?

The Business Brokers, they are on their own team, not the buyer who they swear to help or the business seller who they listed the business. Nope, and then there is the franchisor. He/She has given them use of their brand name to use on a website and they take that and use that Federal trademark to attract buyers and then switch the buyer to a higher commission. And what about the franchisors who are only willing to pay a reasonable sum such as $4,000-$6,000 commission (actually finders fee) on a $20,000 franchise fee? Well those good franchisors businesses never get promoted and never get sold, yet they are being the most true to their team and systems by keeping commissions low and saving money to in turn better their franchise system. So the business brokers charge the franchisors lots of money, bait and switch call ins for a particular franchise for a dry cleaners or a car wash or something they can turn a huge commission and quick buck on.

And they can give earnings claims since they are simply a finders fee player, if you do not believe this happens check out a recent FTC opinion on business brokers. Then the business brokers knowing the tough nature of the franchising industry tell buyers that the franchises are no good and to ask how much income the buyer will make and if the franchisor cannot answer don’t buy it. But in franchising we have laws about earnings claims where as business brokers do not. They have accounting and books to show the buyers of businesses who come into the business brokers offices.

But alas, everyone knows when the original owners of a business leave the volume drops a minimum of 20% because the new owner is not a familiar face, thus the old customers start shopping around and the excuse is they have no loyalty to the new buyer, since they always did business with Bob or Sam or the Smith family, you see? It gets worse the business brokers have a disclaimer that says when you buy a business that you realize they are not liable for any information given to you during the sale? Interesting since they are the appraisers, know the history, tell you that the franchisors are not to be trusted since they do not for the most part give comprehensive sets of earnings claims. Why? Due to lawyers and lawsuits and in adequate and unverifiable data and loss of proprietary information in disclosures.

So the business brokers use this fact to entice franchisors to list with them take their money knowing franchisors have to sell with their hands tied behind their backs then use their band name to attract buyers, then bait and switch the customers and have them sign a form stating the information might be here say (standard in the industry) check it out, and then to top it all off sell someone something that will not work and then in a year or two it is back on the market with guess who? The same broker.

I once had a discussion with some lawyers on the ABA Forum for Franchising discussing brokers and even they were unaware of this problem. You know more franchisors should be smarter and look into this. The FTC should not allow business brokers to do things that franchisors cannot. Actually they should let both do what the brokers do, but all should be truthful when doing so. Too many laws, too many loop holes, not enough jobs, not enough sales to build systems fast enough to build the economies of scale to compete with the Wal-Marts of the world. Franchising could deliver that level of fierce market competition regionally with economies of scale buying power and team work while giving back to the communities they serve and keeping the money local, but not with over regulation state by state and the inconsistencies in Canada, and with the FTC. We are allowing bad policies to dictate loopholes and never leveling the playing field, which shouldn’t have been titled in the first place. How can every one not see what is so obvious. The business brokers are using extortion to get franchisors to sign up, because they can play by different rules. It would be like playing a chess match when the opponent has two queens, Yes if you are smart you can beat them, but not often. No one knows how to deal with this problem I have stated. But I do.

Dust the over burdensome regulation and you will not find everyone trying to go around them. We are not helping consumers we are killing franchise systems and killing the franchisees (also consumer) and franchisors already out there trying to build back the job base, which is just over 2/3 of all people employed are employed by small businesses. You know the franchising model is a perfect way to build efficiency into the small businesses of the future so that they can compete with global products produced for less money and with big box stores supplying consumers with everything but giving little back to help the communities (in most cases). I hope this commentary was thought provoking, if you have any questions about it, go find out for yourself. I have had much experience with this and I know what is going on.

Surely, someone in the government regulatory area has a clue? Well, maybe not so surely, but maybe one? I bet nothing ever happens over this issue. So you consumers should stay heads up and if you call a business broker because they say they represent a franchise system, you may want to call that franchise system directly if the broker starts trying to coax you into a non-franchise business, especially one which has had more than one owner over the years. Franchising works and there is a reason, it will continue to work as long as it is not killed like so many other industries in America. Look at the devastation out there being caused by horrible policy by the frivolous lawsuits by government regulatory bodies.

To find out which business brokers are the most ethical and which business brokers the top franchises use go to; [http://www.Franchising.org].



Cost Effective Business Services

A business services franchise is a good option for many who are willing to serve the corporate world. A business franchisee needs an investment in terms of fees, real estate, marketing, merchandise etc. there are both small business services as well as high cost businesses in the category. Here we discuss some prominent business services franchises.

Financial services: The financial services space is rapidly growing in India. It is one of the most significant business services in India. According to the latest Central Statistical Organisation (CSO) data, financial services, banking, insurance and real estate sectors have risen by 7.8 per cent in the third quarter of 2009-10. This displays the success of the financial service industry. With the over-all increase in the finance services seekers, finance service providers took to franchise route, thus creating a great scope for franchise opportunity.

Till a few years back, the franchising which was an unknown concept in this field has gained lot of momentum in the present times. Before discussing the factors responsible for this development, let us first get familiar with the term ‘Financial services franchisors’.

Financial services refer to services provided by the financial service companies. The finance service companies encompass a broad range of organisations that deal with money management. A few of these organisations include banks, insurance companies, consumer finance companies, stock brokerages, investment funds etc. These companies offer various services such as asset protection, investment and savings, retirement plans, customer-orientated service, besides offering personal loans, commercial loans, mortgage loans, and education loans for the aspiring students. Financial service providers are on the rise as franchising as a mode of expansion is being opted by this industry. Manish Shah, Associate Director- Business Strategy, Equity & Product Development, Motilal Oswal Securities Ltd shared, “The belief in entrepreneurship and the drive it brings to the business, made Motilal Oswal take the franchise route. Franchising brings more scalability to the business and the business becomes entrepreneur driven.”

Courier Services: Another category of business services is courier service. The companies basically work around transportation of goods from one place to another, delivery of documents, packages, and larger shipments of products. These provide services to companies and individuals who need rapid service, accountability, and tracking that regular mail does not accommodate. Courier services are more reliable and dependable as compared to ordinary postal services due to less time consumed and delivery guarantee. However, with the introduction of modern gadgets and faster modes of transportation this system has also progressed a lot. Moreover, franchising is also one of the main stimulants of its popularity and profitability.

Franchising in this sector has grown with more and more players taking the franchise model for reaching out to far flung areas in the vast nation. Courier service companies are required to deliever important mails and parcels to any part, whether city, town or village in the country. Therefore, franchising can be the best mode for guaranteed delivery of the items. According to DS Patel, Channel Head, DTDC, “Franchising is an essential and most effective way of expanding the network. Opening our own company owned courier offices is very expensive and time consuming. However a franchise outlet is economically beneficial to the company.” As informed by Praveen Govindraj, Assistant General Manager, First Flight Courier, “Franchising definitely helps in directly reaching to far-fling areas for delivering items due to our local partners in those areas.” He further added, “Franchising can be a win-win situation for both the franchisor and franchisees as both benefit from it. The local partner (franchisee) has a much better idea of a particular locality than the main company which is based out of Delhi or Mumbai. Delivering parcels to small towns and cities becomes difficult and also take a lot of time if it is done by the company in metropolitan areas. At such times the local franchisee can be of great help.” This can be the major reason for courier companies to opt for the franchise route. Moreover, having local partners all over the nation, who deliver all items on time, also increases the credibility and profit making of the parent company.

The typical feature of the courier service franchise includes doorstep booking, customer convenience and security of each and every consignment that has been entrusted to it. Jaguar Couriers Franchise, Blazeflash Couriers, etc are some of the franchising companies under this category.

Cartridge refilling: Cartridge refilling forms another business service category. In the modern age of I.T, there is a constantly growing need of cartridgere-fills. Foraying in the cartridge refill industry through franchise route is a promising venture. A cartridge refill franchise offers to its user’s quality refills at a fractional cost. Current industry trends and future projections suggest that printer cartridges demand will continue to multiply at a very fast pace as computers and low cost printers swamp the market. Cartridge World, Cartridge CafĂ©, Cartridge Xpress are some of the good low-cost franchise options.

Challenges

Every business has attached to it certain set of challenges. Though the basic challenges remain the same across the board for all business service franchises, their relevance with each sector differs.

Before opting for any of the above options, clear all your doubts. Apart from your initial investment, take into account the ongoing costs that must be paid to your franchisor, including franchise royalties, marketing fees and other required purchases. After you are convinced go ahead and make your mark in the franchising world!



Top Tools For Online Business

A product developer’s success is often dependent on the tools he knows how to use.

Whether you are creating digital products, CDs, DVD’s, videos, web sites, books or reports, having the right tool and knowing how to use it can make the difference between creating a quality product or not getting it done at all.

Here are some of my favourite tools I currently use:

Graphics and Photos

Graphics can really spice up your web site and professionalism. There are a few tools that I use to help with my various sites. These include:

Snagit from Techsmith – This is top on my list for “must have” programs. Besides allowing very easy screen captures, you can also edit them; capture short video screen captures etc. For $39.95 it is a real bargain.

Camtasia Studio – The big brother to Snagit, Camtasia lets you record and edit online video screen captures. This is a great tool for websites whether you want to create a demo of how to use something on your site or you wish to create bonus downloadable videos.

istockphoto.com – This site has quickly earned its spot as my favourite place to find web site graphics. For as little as .50 cents a royalty free photo, it is really hard to go wrong. A very nice plus is that the site is growing every day.

eCover Generator – This is the program we use to create eBook Covers, Makes creating eBook

covers an absolute doddle.

Productivity Tools

Activ eBook Compiler – This was one of my first investments for my online business, which I purchased way back in 2001. Activ eBook Compiler allows me to create eBooks and simple software products right from my desktop. We use it for almost all our products, and highly recommend it. At under $30, Activ eBook Compiler is very affordable, easy to use, creates great looking ebooks, and includes all the advanced features you would expect in a much more expensive product. You can even download a free trial version!

Memberstudio software – Memberstudio this is the software developed by Robert Barret to create and manage members only and subscription web sites. Memberstudio is used by large companies as well as by entrepreneurs to fully automate the creation and management of subscription web sites. With Memberstudio powering your site, you need no other tool. Everything is fully automatic. Expensive, but worth it



Perfume – A Money Making Business

Perfume has been around for ages; for longer than we can even fathom. It has become so ingrained in a woman’s essence that most women won’t leave home without it. Among many perfumes to choose from, Bvlgari perfume has made great strides in the world of scents; a world that everyone wants a piece of.

The perfume industry is at its peak for women’s cosmetics. Almost every department store in the world sells it, as well as many stores and private owned businesses. That is because of their money making capabilities and the attraction that it brings to women.

Every business that is anything wants a piece of some sort of perfume stock. That is because the liquid magic that casts spells on the world has a way with women and men everywhere; and the money is not so bad either. Perhaps perfume is so ingenious because of the way it makes people feel. It has the ability to make a woman feel like she is dressed up and fancy with just a quick spray from a bottle.

Not only does every store in the world want to sell this much in demand product; but every brand name out there wants to start there own. Just like Bvlgari started out in jewelry and other fine products; so too it was not long in coming before Bvlgari perfume was in the making. Everybody who is somebody, and even those who are not, want to make their own perfume because of being such a wanted and needed product.

There are never enough smells and never enough names. Movie stars, as well as any Joe on the street will make their own line. The way it sells is by appearing as unique and exotic, and having that perfect scent. There is never enough perfumes on the market, which is why every day you will hear of a new line.

When starting out, all it takes is one person to wear it and question what it is for it to take off. A lot of times this is how small companies make it big. Perfume has a way of attracting the person wearing it and the person surrounding them.

Perhaps it is a good business to start; making your own perfume. It can really make it with the right tools. If you have the right name, a catchy slogan, and good products; that is a starting point. No matter that you are not a popular brand name; everyone starts out small.

You may not become the next Bvlgari perfume, but if it is such a money making business due to its very high demand, you may at as well give it a shot. Nobody said it is a sure win, but it certainly does not hurt to try. If you attract the right crowd, you may just have your in. After all, it may only take one person (or one nose) to set the trend and bring in the hordes once they smell something they like; so make it worth their while, and make it good.