Enterprise Nation

In the first two years of starting your franchise one of the greatest challenges is finding out what works for you personally and for your business. The key is to keep things simple but creative. Sharon Bassett is back with some friendly franchise advice.

1. Seek out free opportunities

Many local and regional magazines offer factual and well-read free listings in targeted communities.  Non-competing businesses and organisations with similar target markets also offer advertising exchanges.  They share their customer base with you by distributing your information, and vice versa.  Networking locally or giving talks and demonstrations to organised groups can lead to some very productive exchanges.

2. Reward loyalty

Loyalty can be recognised and rewarded in many ways e.g. pricing, prizes, additional products/services.  A loyal customer base can even be turned into your very own sales force if reward is part of a package built around customer recommendation.

3. Look for local support

From other franchises and small businesses through to professional institutes and government departments, free or low cost events offering networking, practical advice and training are always available.  There’s no substitute for getting to know your peers and making sure they know about you.

4.  Be virtually global

You don’t need to be global to benefit from other virtual communities world-wide.  The best ideas can come from the most unlikely places and linking up via LinkedIn and other specialised business e-groups could be just the inspiration you need for your next great idea.

5. Shout from the rooftops

With online submission to local and specialist press broadly available, distributing and tracking your positive PR stories is easy.  And think about creating your own headlines with timely newsletters to customers.

6. Reach for the Skies

Be confident in your ability – there are lots of prestigious awards out there that could really showcase your business and build your reach.  You can only win if you enter! (note from Ed – you can start by entering the 2009 Home Business Awards, right here!)

7. Find the right balance

Remember why you chose your franchise – income, independence, fulfilment, quality time?  In any start-up period there’s a natural inclination towards putting your business first and building solid foundations.  With these in place, you can begin to enjoy the work/life balance that initially motivated you into self-employment.  The costs/benefits ratio will always be personal to you and, managed effectively, can give you the best job satisfaction you’ve ever had.

• Sharon Bassett, Enjoy-a-Ball sharon.bassett@enjoy-a-ball.com
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