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Mortar Makes it Happen

Today we are going to examine the three keys to business development and how you can put the right bricks in place to build a solid foundation. There are three main areas of business development: Innovation Quantification Orchestration If done well these three areas will help you build a solid foundation for your business. Let’s consider each one of these for just a minute. Innovation Innovation should not be confused with creativity, which is the expression of ideas. Innovation is taking these ideas and putting them into action. This is where a large amount of your focus should be at

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We Go Round and Round and Round

The biggest area of turn-key businesses is franchises. There is a franchise for ever industry in the world. They are fairly easy to acquire and come with a pre-packaged, easy-to-assemble system. McDonald’s is a prime example of a franchise business, more specifically a 12-figure, 38,000 franchises example. There are a few things we are going to cover: Business Format Franchise The Franchise Prototype Franchise Prototype Standards   Business Format Franchise The business format franchise came from an earlier model call the “trade name” franchise. The major change was in the rights. During the “trade name” days, the franchise owner only

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Expand the Life of Your Business

Today I’m going to talk about the life cycle of a business and how to get the most out of each process while also extending the lifespan of your business. The four different stages of a business life cycle are: Infancy Adolescence Growing Pains Maturity   We’ll talk a little about what each of these cycles means and how they can help expand your business’s lifespan.   Infancy This is generally considered the technician’s phase, which is the owner. At this point, the relationship between the business and the owner is that of a parent and a new baby. There

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Coral Your Crew!

Today I’d like to chat about the different types of support staff you need and what makes them so important. There are essentially three key roles that need to be filled to set your business up for success: • The Technician• The Manager• The Entrepreneur All of these roles need to be played simultaneously by different people with the right talents. It’s all about balance. The TechnicianThis person represents the present and all that needs to be done for the physical aspects of the business building process. They are the “doer”. This is usually the most visible person in the

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Are You Aiding & Abetting E-Myths?

We are going to embark upon a journey through the world of e-myths and debunk them to help you avoid falling into the e-myth trap. First, let’s take a minute to talk about what an e-myth is. An entrepreneurial myth, or e-myth, is an assumption that anyone can succeed at business with: Desire Some capital Projected a targeted profit   This sounds great, but it is just not realistic. Think of starting a business as a marathon. Sure, everyone starts of the gate at a record pace, but after a few miles, people start slowing, and some drop out entirely.

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