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Small Business Advice: Are You Too Weak To Become Stronger?

retail consultant adviceI was talking to a potential client about using my services as a retail consultant. “I’m afraid that my customers will think I’m in dire straits if they find out I’m using you,” the retailer said.

I can’t say his fear wasn’t true for him, but I can say that the opposite is true –  that whenever you seek help or information, it is a strength.

I work with some of the biggest brands in the world and help them leverage all they are doing right so they can gain even more market share.

Maybe the fear is due to the reality show craze that showcases the tears, the bills, and the draammmaaa of small businesses that are about to go over a cliff if they don’t change.

Maybe the fear is because many entrepreneurs got where they are on their own chutzpah so that they feel seeking someone else’s help minimizes their strength.

Again, they fear that asking for help denotes weakness. Continue reading Small Business Advice: Are You Too Weak To Become Stronger? »

Should You Franchise Your Business?

Phil Town, author of “Rule #1,” and I answered several viewer questions on franchising, adjusting prices, and advertising on MSNBC’s Your Business.

While you can watch the whole clip, here is the answer about franchising and what you should be aware of:

Bob Phibbs and Phil Town

Q. I’m interested in franchising, what are some of the steps to do that?

  • Franchising can sound like a dream come true with hundreds of franchisees paying your for the concept you pioneered but first you must have a profitable business in a couple locations to prove it works and scales well. Having a single location that is successful is great, but it isn’t really proof that your system works.  Even after opening a second location in the same town, it is not proof that you could open one say in Des Moines, IA or Nashville, TN and meet with that same success. That’s because your exisiting customers in your original trade area are making you successful. Continue reading Should You Franchise Your Business? »