Successful CEO Traits that Influence Organizational Performance

Research supports the idea that the CEO’s personality influences a firm’s financial performance and its longevity. A study conducted at Stanford University discovered that CEO’s personality impacted culture that in turn influenced performance

Successful CEO Traits that Influence Organizational Performance
By Premium Author Murad Ali

CEO’s have traits that lead to their success. Learning those traits can lead to higher level of personal and professional performance.

Successful CEO’s have common traits that help them improve their organizations in ways that lead to increases in shareholder value. CEOs maintain stable personality traits that influence how they see the world and overcome challenges. Strategic actions are based in CEO personality and impacts the financial performance of the firm through their strategic decision making and pointed actions. Knowing which traits to look for when selecting CEO’s can have an impact on the long-term performance of the firm.

It wasn’t long ago that gruff, emotionally unattached and perceptually powerful CEOs were desirable. They demanded short-term results which could be seen immediately in their primary benchmark of stock price which leads to increasing compensation. Lifespan of these executives at any particular organization was between two and four years leaving the long-term consequences for the next leader to untangle.

Research supports the idea that the CEO’s personality influences a firm’s financial performance and its longevity. A study conducted at Stanford University discovered that CEO’s personality impacted culture that in turn influenced performance (O’Reilly, et. al., 2014). CEO focus and approach to the workplace created lasting contributions (or detractors) to the way in which other people think creating tangible outcomes.

The central personality of the CEO impacts how they see, interpret, and apply information. Those who sense situations seek to analyze and defend positions while those who are more intuitive attempt to analyze and prospect new opportunities (Gallen, 2010). As an organizational leader, their decisions will weigh heavily on how they use their past knowledge to solve current problems.

CEO’s that lean toward defend strategies will naturally seek to consolidate holdings and streamline operations toward market penetration and often width. They may invest heavily in existing marketing to increase cash flow and layoff employees to influence financial metrics that have an impact on short-term stock prices.

Entrepreneurial CEO’s may use defend strategies to get over an immediate crisis but ultimately seek to expand their holdings. This could mean developing new products, expanding services, retraining employees, and reinvestment that influences long-term income and stock performance. As long-term decisions are made to support business fundamentals the more capacity the business builds.

Where one consolidates the other seeks to expand as a long term-strategy. Because personality has such a big influence on business outcomes it is beneficial to consider the following traits:

Short and Long-Term Planner: CEO’s should be able to think short and long-term. They should be concerned about how today’s decisions will impact the organization 5 or so years down the road. If they cannot create a logical chain on how immediate decisions create new opportunities for future decisions, then they should seek alternative solutions.

Empathetic Communicators: Before one can truly lead a company they should have people skills that include the ability to formulate strong communication patterns among employees. Their discussions should be inclusive and push to inspire and support their organizations in a way that creates better performance outcomes. They should be able to use empathy so they can understand others and create win-win situations that enhance human capital.

Analytic Entrepreneurs: CEO’s should be willing to take calculated risks and have intuitive prospecting mindset that consistently seeks out new opportunities. These opportunities might be new product lines or enhancing existing lines. Any reasonable opportunity should be investigated, analyzed and when beneficial, implemented. They should be “ideas” people that leave the longer health of their companies in a stronger position.

Motivated Builders: The deep internal need to build bigger things should be present. This drive is apparent in the way in which the person seeks out new challenges that test themselves to create something lasting. They should be driven to achieve and develop bigger and more powerful companies. Their goal should be to leave a legacy.

Creative Problem Solvers: Business is a sequence of problems that must continually be bested and overcome. As the company overcomes these problems they naturally will become stronger. Innovative companies that solve problems in creative ways make market breakthroughs that lead to competitive advantages. Ensuring that your CEO has the very same skills needed to bring the company to new heights is important.

Life-Long Learner: CEOs that seek to learn and develop their whole life are worth much more than those who are narrow-minded and fail to update their knowledge. The life-long learner is capable of weighing and balancing new information to keep their practices relevant and make sound decisions as situations emerge. They are at their best so they can run the organization at its best.

Gallen, T. (2010). Personality and Strategy. Acta Wasaensia No. 221. University Wasaensis.

O’ Reilly, C. et. al. (2014). The Promise and Problems of Organizational Culture CEO Personality, Culture, and Firm Performance. Group Organization Management, 39 (6). 595-625. Retrieved http://gom.sagepub.com/content/39/6/595.abstract

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ABOUT THE AUTHOR

Dr. Murad Abel is a professor and researcher that helps businesses and people achieve higher levels of performance. http://www.abelbusinessconsulting.com/

Business Success Secrets You Must Know

Get advice from solicitors and learn about customer service from experts. Being prudent in this area will help eliminate any start-up mistakes and set you ahead of your competition.

Small Business Success Secrets
By Dan Cavalli

Small business success is easy but certainly not simple. Turn your passion into small business profits. Many business owners experience Small Business Success. Even though the world is experiencing economic difficulty, business growth is rampant. If you need help to achieve business success you have come to the right place.

What is it that an individual can do to achieve lasting success in their small business? Here are a few ideas to improve your chances of gaining small business success using time tested secrets I personally use in my own business.

1. Research. You can either market the product you have now in the hope of it being acceptable to the market place or you can research the market for the best product to sell. At any rate market research has to happen first and once done, marketing is a continual through the life of your business.

2. Cash Flow. Lack of cash flow is a major reason for business failure. It’s OK to gain sales and make money but if you don’t or can’t collect it you are destined to go broke. The rule to keep in mind is to make sure you invoice as soon as possible and you pay as late as possible. This is a simple plan that works. So sit down, and take the time to create a cash flow plan now.

3. Technology. Technology will save you thousands of dollars and halve your work time. Buy as much as you can afford. Remember, the hours spent in your business are worth money and plenty of it so be smart and embrace technology. Technology can automate every part of your business including communicating with customers.

4. Passion. There is nothing worse than going to work and becoming a clock watcher because you are unhappy. Find something you are passionate about and do that. The day won’t be long enough then to do all you want to accomplish. Why? Your passion creates enthusiasm and that will carry you through any tough spells. It’ll motivate you when your business hits bad times.

5. Marketing. The prime function for you as a business person is not to sell product but to become a marketing Guru. Marketing is one of the areas where many business owners fall down and that has a bearing on whether or not a business will be successful. You love your business and you want it to be successful. Do research and find out how are you will convince prospects to buy what you have?

6. Advice. You may think you are pretty smart. You may have specific knowledge about your specialty which is great, but you will come unstuck if you haven’t run a successful business before. You must still seek advice from experts when building your business. The reason is business is not about what you know in your field. It’s controlled by legislation, consumer rights and marketing. Get advice from solicitors and learn about customer service from experts. Being prudent in this area will help eliminate any start-up mistakes and set you ahead of your competition.

7. Delegation. When you own a small business you have to wear many hats. You are the CEO, GM, admin manager, customer service manager, research and development person, sales and marketing manager and everything else. It’s not practical to manage your business this way and hope to grow at the same time. Delegating responsibilities and tasks is an important component of running an efficient and successful business. As the business owner your time should be spent growing the business, working on the business, not in it.

8. Internet. I am not talking about using the Internet to sell your product or service [even though it is often used for this] but rather use it for research, communication Free Reprint Articles, making payments to save time. Use the internet to gain more for your business to save time and money for business building tools and the latest resources.

Your partner in business success

Dan

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ABOUT THE AUTHOR

Helping people and business to be the best they can be now! If you liked this information and want more get the ‘Six steps to more business quickly’:http://www.leadbuildingsystems.com . Thinking about Starting a business and want to know how: http://www.startingabusinessnow.com/ Want to Grow a Small Retail Business fast: http://www.howtogrowasmallbusiness.com/

Emerging Franchise Brands battle with this question everyday.

Emerging franchisors are faced with a number of “start-up” challenges that include limited capital and limited management resources to focus on franchise sales development.

Are Franchise Brokers Good or Bad for Franchising and Emerging Franchisors?

By Charles Internicola
Partner at The Internicola Law Firm, PC and President of Thoughts Are Things Franchising, LLC

When you speak to the founder of an emerging franchise system, much more often than not, you will find a genuine entrepreneur intent on creating a successful franchise system and a win-win relationship with his or her future franchisees. During the start-up and growth phase of a franchise system, these franchisor founders are faced with a number of challenges to overcome, with the greatest and most important challenge being the attraction of qualified franchisee partners who will be a good fit.

So how do franchise brokers fit in, and are they good for franchising and emerging franchisors?

They are – franchise brokers are good for franchising and critical for the emerging franchisor.

Here’s why…

Emerging franchisors are faced with a number of “start-up” challenges that include limited capital and limited management resources to focus on franchise sales development.
How Franchise Brokers Help Solve this Challenge: Turns out that, on the whole (of course there are always exceptions in every profession) franchise brokers are professional, well versed in franchising and have every incentive to place a qualified franchisee with the right franchise system. So, franchise brokers can serve as valuable outsourced professional resources to supplement the franchise sales and qualification efforts that are typically lacking in an emerging franchise system.

Emerging franchisors are faced with the challenge of finding the right franchisee partners.
How Franchise Brokers Help Solve this Challenge: The success of an emerging franchise system depends on the quality of its initial group of franchisee partners. Sign on the wrong franchisee and you are left with validation issues and problems. More often than not, franchise brokers produce higher quality franchisee prospects. These franchisees are typically better qualified than franchisee prospects generated organically or directly by the emerging franchisor.

Emerging franchisors require momentum.
How Franchise Brokers Help Solve this Challenge: Quoting Robert Ringers excellent book “Action!: Nothing Happens Until Something Moves”, for emerging franchisors nothing happens until a franchise is sold. So when it comes to growing a franchise system emerging franchisors need to adopt an all of the above strategy focused on SEO, organic lead generation, public relations, social media and broker generated leads. Franchise broker activity and effort is a critical piece to the franchise sales process and “moving things” to create momentum.

In my experience, it turns out that much more often than not, franchise brokers themselves are self-employed entrepreneurs are professionals, take pride in what they do and are genuine in matching prospective franchisees with the right system and so that can only be good for the franchise industry.

http://www.franchiselawsolutions.com/blog/are-franchise-brokers-good-for-franchising-and-emerging-franchisors/

NYU addresses the growing restaurant sector and ensures that aspiring restaurateurs possess the business fundamentals needed to succeed.

“We wanted to develop a curriculum that would serve the educational and training needs of both industry veterans and those seeking to launch their careers or new business ventures,” said Dr. Kristin Lamoureux, clinical associate professor and associate dean, NYU School of Professional Studies Jonathan M. Tisch Center for Hospitality and Tourism.

NYU addresses the growing restaurant sector and ensures that aspiring restaurateurs possess the business fundamentals needed to succeed.

August 3, 2016 – New York City
PRESS RELEASE BY:
Aaron Ross
Assistant Director – NYU School of Professional Studies

Jonathan M. Tisch Center for Hospitality and Tourism
7 East 12th Street | 721E | New York, NY 10003 P (212) 998-7226

Despite the thousands of restaurants that go out of business each year, thousands more take their place as their owners pursue dreams of succeeding where so many others have failed. Despite the relative ease of launching a new venture, creating a restaurant that is successful in the long-term requires a balance between creating a memorable culinary and service experience and minimizing operational expenditures to ensure profitability.

To help address the needs of this growing sector and ensure that aspiring restaurateurs possess the business fundamentals needed to succeed, the NYU School of Professional Studies Jonathan M. Tisch Center for Hospitality and Tourism (sps.nyu.edu/tisch) is launching a new Professional Diploma in Restaurant Entrepreneurship for the fall 2016 semester.

“We wanted to develop a curriculum that would serve the educational and training needs of both industry veterans and those seeking to launch their careers or new business ventures,” said Dr. Kristin Lamoureux, clinical associate professor and associate dean, NYU School of Professional Studies Jonathan M. Tisch Center for Hospitality and Tourism. “By providing a framework for building knowledge and skills, access to industry leaders, and validating student learning through a comprehensive business plan, we can ensure that our diploma holders are prepared to not only start but grow successful businesses that will create lasting value for the communities in which they are based.”

This concentrated diploma program was designed with working professionals in mind and will be delivered in a blended – online and in-person format – which provides students with the utmost flexibility to complete the program. The 5 required courses include Restaurant Business Planning and Concept Development; Restaurant Financial Management; Restaurant Operations; Restaurant Sales and Marketing; and JobFocus: Restaurant Entrepreneurship.

Applications for the fall 2016 semester will be accepted until August 26. For more information about the Professional Diploma in Restaurant Entrepreneurship, including application requirements, and course faculty, click here. You may also call 212-998-7226 or email [email protected].

This program adds another option for students who would like to pursue a career in the restaurant industry, and is a perfect companion to the existing Diploma in Restaurant Operations and Guest Service, which focuses entirely on developing the skills to achieve operational excellence in the front- and back-of house. For information about the Restaurant Operations and Guest Service diploma, click here.

“How did it get to this point? Why am I working, working, working with my head down?”

The challenge facing most business owners is how to come up with the time to work ON the business so that they can improve the function of their company.

Why am I working, working, working with my head down?

– By: Suzanne Holman
“How did it get to this point? Why am I working, working, working with my head down in my business and feeling as though I don’t have a moment to think ahead?”

You probably started your own business to have freedom of choice, to have freedom to create and to have freedom to have limitless income without the constraints of a salary.

You may have left a J.O.B. and now you are feeling as though you are once again at a J.O.B. with your worst boss ever…YOU!

Generally, businesses are started by someone who has a particular skill. You may have done great work with the finances in a corporation so you decide you’d like to have your own financial services company.

Just because you have the skills to do the technical work of a company doesn’t mean that you can be a successful entrepreneur. Anyone who has gone through this transition would agree. There are so many different skills needed to run a business!

Until you are ready to delegate the tasks that are not your specialty, you will not be able to fully utilize your best talents.

Creating a system that others can run without you can give you that freedom that was your goal to having your own business. This takes discipline and careful attention to all the details that you are presently handling.

Oh, how tempting it is to think you can handle it all! Maybe you think you need to get bigger and have more profit before you deserve to have the support you need?

It may seem risky to be paying for the support when your funds are tight, but without the support in place you are apt to stay stuck where you are.

You are also a perfect candidate for overwork and overwhelm. When you are overworked and overwhelmed, the passion that drew you into the business starts to shrivel and die.

Ask yourself, “How many hours am I actually working in my business each week?”.

Would you ever have worked that many hours in ANY job you’ve ever had?

I didn’t think so.

The challenge facing most business owners is how to come up with the time to work ON the business so that they can improve the function of their company.

Now it’s time to look for the time wasters that steal some of your valuable time away. Is it email? That is a problem for many of us.

How easy it is to get sucked into checking email and then get distracted by any number of interesting topics.

Disciplining yourself to check email only at certain times of the day could free up some valuable time for your business planning.

Another roadblock to our productivity can be avoiding something (like busines planning) because it seems too major of a project. If you can break the project down into smaller segments, it will be easier to fit the work on one of the segments into any free time that you have.

Actually creating appointments with YOURSELF for a change would be a way to create time for this business planning.

And keep that appointment!

Show yourself and your business as much respect as you show the rest of the world.

If you have problems in disciplining yourself into making some of these changes and creating a business plan, it may be the time to think about hiring a business coach.

A business coach would be able to support you in getting through this transition into a systemized business structure that will allow you to grow profitably and to have the freedom and creativity you wanted in the first place!

Article Source: http://freewebcontent.org

How about completing your goals with energy left over? Exuberant Productivity Coach, Suzanne Holman, MAEd, works with financial service professionals who want to improve their productivity to make the most of every hour of the day for their business and for their personal life. Exuberance Assessment is available without charge at Suzanne Holman’s website, http://www.suzanneholman.com ” target=”_blank”>http://www.ExuberantProductivity.com>

So you’ve decided to franchise your business. Now what?

There are a number of resources available to you as a business owner, and it’s important to take advantage of those resources right from the start of your franchise system. It’s also important to consider hiring a franchise lawyer to help navigate all the legal paperwork you will have to conduct prior to rolling out your franchise program.

So you’ve decided to franchise your business. Now what?

Harold Kestenbaum
President at HLK P.C. Law Firm | Franchise Lawyer

So your going to franchise your business. The first thing you need to do is ask yourself these questions:

Is there profit potential with my business?
Is my business unique enough to franchise?
Do I have a good story that people will want to buy?
What can I offer to franchisees that they couldn’t get anywhere else?

In franchising there are so many critical details you must look at before you’re able to make an educated decision on your business future. Determining the answers to these four questions is an excellent first step. If you’re unable to answer these with confidence, it may be time to step back and reconsider your desire to franchise. There’s nothing wrong with that — it just may not be the right time for your business.

With that said, it is nearly impossible to know everything there is to know about franchising if you’re just getting into the industry. There are companies with 15+ years of franchise experience that are still learning new things every day. One of the most advantageous things you can do in these early stages of your franchise is to enlist the help of industry experts.

There are a number of resources available to you as a business owner, and it’s important to take advantage of those resources right from the start of your franchise system. It’s also important to consider hiring a franchise lawyer to help navigate all the legal paperwork you will have to conduct prior to rolling out your franchise program.

Another useful resource as you maneuver through the minutia of the franchise world is my book, So You Want To Franchise Your Business. It’s a comprehensive guide to help you understand each step you need to take before franchising, the legal documentation you will need before that starts and best of all, it will answer all four of those burning franchise questions.

So you’ve decided to franchise your business. Click our logo below to for more franchise information or give me a call (516) 745-0099, to receive a free consultation and get franchising today!

“Small Business”, Does Not Mean 500 Employees, $10 Million in Revenue

Yes, the “too-big-to-fail” businesses were bailed out by our government using our tax dollars. The micro small businesses were left to pick up the tab but get no benefits because they are small enough to fail without bothering anyone. Cold.

This article is written and owned by Don Todrin

There are many definitions of a small business. One standard definition is $10 million in sales and 500 employees. That’s not small business! That’s big!

So, what is small business? A small business may be the family business, or just a very small business—a dozen or so employees and maybe $1 million in revenue. Small retail shops, small service businesses, architects, contractors, tradesmen, lawn care… everything that America is all about, what our towns and cities are full of: micro small businesses. That’s America. That’s were the rubber meets the road. That’s small business, and these are the people I am talking to.

These are the people paying more than their fair share of taxes and getting a lot less in return. They’re the ones experiencing massively declining revenues and ever-increasing overhead and expenses. This is where the recession is grinding us to the bone, where debt is now so high compared to revenue that we cannot survive. This is where the recession lives, in reduced revenues, increased overhead and bone-crushing debt. Micro small businesses are our neighbors, our communities, our friends.

There is no revival at this level, just pain. The larger of the small businesses are beginning to rebound and that’s good, but the corner store, the local community businesses, the mom-and-pop stores, craft stores, coffee shops, ice cream shops, etc. are all suffering and going out of business rapidly and daily. The pain is intense and families are at risk. Families, homes, children… all innocent victims of this cold-blooded recession.

Yes, the “too-big-to-fail” businesses were bailed out by our government using our tax dollars. The micro small businesses were left to pick up the tab but get no benefits because they are small enough to fail without bothering anyone. Cold.

So, it is up to us to take care of ourselves, and that is our mission at Second Wind. Showing you how to survive and even prosper, to emerge successful, regain position, preserve jobs and add more. Something must be done and bankruptcy is not the answer as it eliminates the business, the jobs and the income for the owners and the families of the employees who have now lost their jobs and everything else they have built.

The answer is self-help. We must downsize our businesses if possible, reinvent ourselves and, yes, do the debt workouts because debt is killing us all. Without debt we can learn to survive and even prosper in this rough economy. Ask any small business owner—small as defined here—how things are going, and they will tell you: awful. They are being sacrificed at the altar of this recession while our government bails out big business (the “too-big-to-fail”) so they remain profitable.

Micro small business is where the help is needed most and there is none.

Call us, we have answers. We have strategies that work. Downsize, reinvent and work out your debt. This is the answer. Help is on the way. There is no reason to fail, we can help.

Donald Todrin is the CEO and Founder of Second Wind Consultants who specializes in SBA Loan Workouts, business debt forgiveness and solving difficult business problems in general. Don has authored dozens of articles on SBA loan default and debt workouts.
Follow Don on Twitter and join his Facebook fan page.

Article Source: http://EzineArticles.com/?expert=Don_Todrin
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Your own small business begins here

There are many definitions of a small business. One standard definition is $10 million in sales and 500 employees. That’s not small business! That’s big!
“Small Business”, Does Not Mean 500 Employees, $10 Million in Revenue

Mothers, Daughters and Franchise Partners

When Jada and Cindy came to our offices looking for a business to fit their family, we began by asking some important questions, like “what do you want the business to provide for you and your family?” My team and I have helped almost 400 people into business ownership, most of them first time business owners and almost all of them are family businesses.

Mothers, Daughters and Franchise Partners
By Leslie Kuban
Franchise Consultant | Franchise Owner | Educator and Author

Like so many millennials in the workforce today, Jada Hutcheson Clower watched her baby boomer mother scale the corporate ladder, break through the proverbial glass ceiling and blaze new trails in the corporate hospitality world. The tradeoff was her mom often worked long hours and traveled far from home. As Jada prepared to start her own family, she found herself in the midst of a career quandary. “I began asking myself what I want for my family and the answer was clear, I want to be present.”

It’s not as though Jada didn’t appreciate the success and longevity of her mother’s corporate achievements. To the contrary, she respected those career choices now more than ever as she talks about the successful franchise business they launched together in 2014. Jada credits her mother Cindy with setting the example for all that can be achieved through perseverance and hard work. “She helped me believe anything was possible.”

Jada originally chose a different career, but after 5 years as a teacher she began thinking about her long term options. Teaching offered some flexibility with summers off and holiday breaks, but Jada was burning out fast. “I was giving everything I had to my students and at the end of the day, I had nothing left to give to my family”, she confessed. When she became pregnant in 2014, she decided this was the perfect time to make some wholesale changes. Who better to consult for career advice than the one person who taught about the challenges of balancing business and motherhood?

When Jada and Cindy came to our offices looking for a business to fit their family, we began by asking some important questions, like “what do you want the business to provide for you and your family?” My team and I have helped almost 400 people into business ownership, most of them first time business owners and almost all of them are family businesses. In recent years, we’ve seen a significant uptick in multi-generational family partnerships. It’s not just Mom and Pop anymore. Today a whole new generation is redefining “family business” with parents and adult children leading the way together. According to a recent article published by the International Franchising Association (IFA)…

“Recognizing the similar paths their lives are taking, many boomer parents and their millennial children are joining forces and going into business together.”
I have first hand experience in this area since I’ve enjoyed my own multi-generations family business partnership with my father for over 17 years.

Jada’s daughter is now two years old and the family business is thriving. I asked her to sit down with me to share her business ownership exploration and why they chose the business they did.

Q: Timing is everything, but you had a lot going on at the time, so what drove you?

A: My mother and I found ourselves together at a crossroad right about the time I became pregnant. I was burning out on teaching and I knew I wanted to create a world for my daughter where I could be there for her on a regular basis. I also knew I wanted my mom there with me. Her corporate career was winding down and this was our chance for a new beginning.

Q: You’re a certified teacher, what made you decide to leave teaching for business ownership?

A: I wanted more flexibility in my schedule, more than just weekends and school breaks. Plus, I wanted to focus my time and energy on building a business where my entire family could play a role. I realized the reason I love teaching is the feeling that I’m making a difference. That feeling can be achieved in creating a lasting legacy for my family as well.

Q: What made you decide to go into a business partnership with your mother?

A: My mother is one of the smartest businesswoman I’ve ever known. When I approached her about building a family business, it was no surprise to me when her first question was, “Why not?” I knew she would bring to the table her years of experience in the business world and she would tell me what I needed to hear honestly and openly. She was for me the perfect partner.

Q: Were you afraid that being in business with family would change your relationship?

A: No. We have always been extremely close and our family comes first. Generations of our family has lived in this community and we have an incredible wide support system to help us on track.

Q: Why did you decide to look at a franchise business?

A: We recognized that we need the support and process that franchise businesses could offer. We wanted to achieve that balance between true entrepreneurship and the corporate world, where my mother spent the majority of her career. There were other options, but a franchise business made the most sense for our family.

Q: Education and child enrichment businesses can be both rewarding and lucrative, why not stay in the world you know?

A: We thought about that, but I wanted to work ON the business and not IN the business. I also really wanted to do something vastly different, to expand my skills. This business is not just for me, it’s for my whole family, so we considered all the different options you presented.

Q: You decided on a B2B business model, Instant Imprints, why?

A: Instant Imprints checked all the boxes for us. The B2B component meant the opportunity for higher revenue, recurring revenue and predictable business hours. The franchise system demonstrated a strong network of customers, vendors and other franchisees. They work to keep the team updated and informed on the latest research, development and promotional opportunities. Most of all, we wanted a franchisor who would value open communication, mutual trust, clearly defined rights and obligations and is dedicated to long term success.

Q: What is your role and what is your Mother’s role in the business?

A: I am primarily involved in the creative process. My mother lends her support on the marketing and business development side, but what she really enjoys is caring for her granddaughter while Mom is at work. It’s all come full circle.

Q: What advice would you give to other prospective business owners exploring franchising as a path to business ownership?

A: Be clear on what you really want. Be focused and prepared to work really hard to achieve your goals. My mother taught me that.

Q: Is it everything you wanted in a family business?

A: Our business allows us the freedom and flexibility we need to make our family work. Families are always juggling priorities, but since we are all working together at home and at work, we have the opportunity to pull together to get it done.

Q: Is there a special Mother’s Day message you’d like to send to your Mom and business partner?

A: If I could be half the Mother to my daughter as my Mom was to me, I will consider myself a huge success.

As we prepare to celebrate motherhood this May, we congratulate these forward thinking ladies for their success as a family and as business owners.

Whether you’re exploring business ownership as a new career or simply want to know more about building wealth and equity through franchising, sit down with your family and watch some of our educational videos together. We’ll help you start the conversation.

_____________________________________________

Leslie Kuban is the Owner and CEO of FranNet of Georgia; an Atlanta based Franchise Consulting Firm. Leslie has a proven track record of helping over 350 people successfully transition from corporate life to business ownership. Leslie and her team offer over 59 years combined expertise and her personal experience as a franchise owner gives her a unique perspective to help her clients assess their real opportunities, risks, and timing to make sound decisions. To reach Leslie, please visit http://www.atlantafranchiseexperts.com/team/leslie-kuban

To stay connected to a wealth of information on becoming your own boss, click on the Follow button above, like us on Facebook & follow Leslie on Twitter and sign up for one of our local events. Leslie can be reached at [email protected]

Entrepreneur Overload – Startups: Do We Really Need Them?

I have not even begun to think about the rise of even more powerful companies resulting in massive monopolies. In the end, would we wind up with just a small handful of enormous conglomerates owning and operating every industry? Or, could we end up with only one all powerful entity controlling all industries, and the world?


Startups: Do We Really Need Them?

By: Paul Segreto
Entrepreneur, Franchise & Small Business Professional, Top 100 Champion Small Business Influencer Awards 2014 & 2015, Popular Blogger & Podcaster

I recently responded to a group discussion on LinkedIn where an MBA student asked the question, “Do we need startups?” This student went on to add, ” I just read Digital Darwinism by Evan Schwartz and it led me to wonder, with so many startups I hear about each day, How many actually serve a purpose? How many actually provide a non redundant solution to a problem?” After considerable thought, I responded accordingly…

Interesting thought. “Recycled” businesses instead of closed businesses. If you can’t make it, give someone else a shot. Diversification would be a necessity. Successful business may be worth more.

On the other side of the coin, startups brought us Bill Gates, Steve Jobs, Walt Disney, Henry Ford just to name a few. Would they have been as innovative working for a company as opposed to blazing the trails themselves? What would the world have missed without them? Would tomorrow’s Gates, Jobs, Disneys and Fords be left to work “within the box” as opposed to “outside the box?”

I have not even begun to think about the rise of even more powerful companies resulting in massive monopolies. In the end, would we wind up with just a small handful of enormous conglomerates owning and operating every industry? Or, could we end up with only one all powerful entity controlling all industries, and the world?

No startups? I think not! But still an interesting thought to say the least.

So, back to answering your question – I believe they all serve a purpose in lending to innovation and creativity that are vital to our future. Vital to democracy. Vital to free enterprise. Vital to helping third world countries. Vital to making the world a better place for today and tomorrow.

Redundant solutions? Without startups clicking at their heals, would companies continue to improve on solutions they’ve developed or just stop as they developed the solutions and then just sit back and rake in the profits? After all, why continue spending millions in improving on your solutions if no one else is working on a more effective solution? In simple terms, if we’ve created a trap that will catch mice, do we really need a better mousetrap? Maybe not from the practical sense. But what if we could catch a mouse a different way and it’s more cost effective? Or, maybe it has less health risks. Or more humane?
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About the Author: Paul Segreto is the Founder of The Segreto Group in Houston.

The Segreto Group explores opportunities for investment, partnership, acquisition or development. This includes launching new concepts, raising capital and collaborating with strategic partners. Focus on small business and franchise distribution models including restaurant and food service.

Entry-level and early-stage entrepreneur & restauranteur coaching with emphasis on strategic planning, brand culture development and digital & social technology integration.

Special project currently in development – American Center for Entrepreneurial Development, a resource for current and future entrepreneurs, small business owners, franchisees, sole practitioners,
freelancers and network marketers.

You can contact Paul Segreto at: https://www.linkedin.com/in/segreto?trk=pulse-det-athr_prof-art_hdr

The Color of Entrepreneurship: Why the Racial Gap among Firms Costs the U.S. Billions

Although the number of minority-owned businesses is increasing dramatically, America is currently forgoing an estimated 1.1 million businesses owned by people of color because of past and present discrimination in American society. These missing businesses could produce an estimated 9 million more jobs and boost our national income by $300 billion. Thus, expanding entrepreneurship among people of color is an essential strategy for moving the country toward full employment for all.


The Color of Entrepreneurship: Why the Racial Gap among Firms Costs the U.S. Billions

by Algernon Austin

Businesses owned by people of color are playing an important part in restoring the health of the American economy after the Great Recession (December 2007 through June 2009). Between 2007 and 2012, privately held minority businesses contributed 1.3 million jobs to the American economy. In a more inclusive society, one where there was truly equal opportunity for all, there would be more minority-owned businesses contributing even more to America’s recovery.

Although the number of minority-owned businesses is increasing dramatically, America is currently forgoing an estimated 1.1 million businesses owned by people of color because of past and present discrimination in American society. These missing businesses could produce an estimated 9 million more jobs and boost our national income by $300 billion. Thus, expanding entrepreneurship among people of color is an essential strategy for moving the country toward full employment for all.

This report documents the changes in the economic status of businesses owned by people of color between 2007 and 2012. Although most privately held businesses do not have employees, this analysis focuses mainly on the businesses that do have paid employees because of their greater economic impact. Data for the analysis was culled from the U.S. Census Bureau’s Survey of Business Owners (SBO), which is conducted every five years. The two most recent surveys are from 2012 and 2007. In the SBO data, a racial, ethnic (Hispanic), or gender group is defined as owning a firm if it owns more than 50 percent of the equity, interest, or stock of the business. Hispanics can be of any race, and the Survey of Business Owners includes them within their racial group when the data is presented by gender (e.g., White Hispanic women’s firms are in the racial category White women’s firms). The analysis excludes publicly held firms—firms that are traded on a U.S. stock exchange—because those firms are not classifiable by race, ethnicity, or gender.1 Public firms are generally larger than private firms.

Key findings of this report are:

Nearly all of the entrepreneur-of-color groups experienced significant growth in the number of their firms from 2007 to 2012. Asian American women-owned firms had the strongest numerical growth rate, 37.6 percent.

African American men were the only group to have a decline in the number of their businesses in the period from 2007 through 2012.

Six of the 10 groups of business owners analyzed experienced a decline in average sales from 2007 to 2012. Firms owned by Black women had the largest decline in average annual sales, 30 percent, followed by firms owned by American Indian women, 22.2 percent. The strongest growth in average sales was posted by firms owned by Latino men. The average sales of these firms grew 7.2 percent.

In 2012, all of the firms owned by groups of male business owners had higher average sales than all of the firms owned by groups of female business owners. White men’s firms had the highest average sales among the male firms, and Black men’s firms had the lowest. Among the female firms, White women’s firms had the highest average sales and Black women’s firms had the lowest.

The Great Recession delivered a significant blow to White male business owners in the construction industry. In 2007, White men owned 70.7 percent of all privately held construction firms. In 2012, with the bursting of the housing bubble, the number of construction firms owned by White men had declined by 61,000 (11.4 percent) and the number of employees in these firms had declined by one million (21.4 percent).

Looking only at the groups with businesses that added jobs between 2007 and 2012, non-White business owners added 72.3 percent of the total.

If the number of people-of-color firms were proportional to their distribution in the labor force, people of color would own 1.1 million more businesses with employees. These firms would add about 9 million jobs and about $300 billion in workers’ income to the U.S. economy.
Read the entire article here: http://globalpolicysolutions.org/report/color-entrepreneurship-racial-gap-among-firms-costs-u-s-billions/

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