Why do people choose to start their own business? According to a 2012 Dun & Bradstreet study the majority (56 per cent) started their businesses to take advantage of a business opportunity, while 20 per cent had no better choices for work and 22 per cent cited both these reasons. Where respondents reported that […]
What’s The Difference Between A Licence And A Franchise?
So you have a concept, product or business you wish to sell through a ‘third party’. Typically this involves granting a licence or a franchise. But what’s the difference? The key distinction can be found in the definition of “Franchise Agreement” in the Australian Franchising Code of Conduct (“the Code”). It states that an Agreement […]
Does Your Brand Name Sound Right?
There is a lot to say about a brand name and the images and thoughts it may represent. But what about the sound? What does the tone does the brand name Nike suggest for example? According to researchers the sounds a,ch,j,k,o,p,t,u seem harder and more masculine than do e,i,l,m,n,ng,sh,s. The sounds f,s,v,z are generally associated […]
What’s In A Business Name – 6 Major Business Name Styles
What’s in a business name? If you have ever started a new business from scratch or thought about renaming an existing business that you own – you’ve probably, like me, have had some challenges in coming up with that great business name. I did some research and came across this excellent business naming article by […]
How Your Customer Promise Can Increase Sales
I’m a big fan of how IKEA does business – especially their marketing and sales methods. If you can – make a trip to an IKEA store to simply view how they retail – you’ll certainly learn a lot. The Customer Promise Closely following the vision for your business is your definition of your business […]
Creating a Vision for Your Business!
“Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion.” Jack Welch, Chairman, General Electric. Without a strong, defined vision, most businesses usually fail because the challenges got too tough – the business fundamentals outweighed the ‘passion’ and drive. The vision therefore drives the company through […]