Why You Shouldn’t buy a Franchise?
When looking to start your own home based business one very popular option is to look at investing in a franchise. There are a number of advantages with franchises; an established name, a sales territory, sales leads, advertising and marketing, to name but some of the major benefits.
Well, at least that’s how most franchises would tell you. But just stop a minute and think this business model through.
Unless it’s a very unique and specialist franchise, what possibly can be an advantage in investing in the name of a known brand? Just think about this; you are buying a business name that (hopefully) is recognised by your potential customers, but how uniques or well respected is that brand, is it significant enough to mean any good independent competitors can’t compete?
That’s especially true when you remember you don’t have an exclusive sales territory – what that means is that no other franchisee can promote in your area, but you still have every other competitor in your sale area too.
What about those leads, well that may have some value, but how good are those leads? Are you still expected to follow-up on enquiries or are they actual orders? What if you can’t afford the investment in the franchise?
Well many franchises can arrange financing to help you start your franchise business, sound great – but you still have to pay the loan back, assuming you meet their requirements for lending in the first place.
Assuming you are still considering a franchise, ask yourself why are you getting in to your own home based business, is it to become independent and be able to run your own business the way you want to, to make as much profit as you can and keep the majority for yourself?
You can probably tell I don’t have a high regard for franchises, don’t get me wrong some (like McDonalds) are great franchise opportunities, but they come with almost cast iron guarantees of success, many franchises don’t.
No, starting your own business is tough enough, but immediately committing to paying a franchise fee, plus a percentage of turnover (or target turnover) and potentially any financing, even before you pay yourself! Doesn’t sound like a great way to start your own business in my view.
If you want to have another job and/or another boss, then a franchise will surely take you there. I don’t think that’s for you though, else you wouldn’t have read this far.
If you want to start small and don’t have enough budget to buy a franchise, check out Passive School.
Have a great weekend.
8 occupations that will still be here in 20 years
Hey, don’t despair, I probably made a few of you cry in to your beer (or wine) the last time we talked about the future occupations – or rather those that won’t be around much longer.
So I thought I’d (try) and inspire you with 8 careers that will be around for along time…
#1 – Lawyers, who’d have guessed it, even with the progress of machine learning, until such time as the justice system decides humans can’t be relied upon to judge their peers. We will still need lawyers to argue the case in a court of law in front of human judges and twelve good wo(men).
#2 – Specialist physicians and surgeons, it’s a long way off before humankind will hand over physical intrusive operations on humans me thinks.
#3 – Registered nurses – yep, again AI is a long way off being able to have a good bedside manner (then again – have you met my doctor?), no robots won’t be watching over you – just yet.
#4 – Systems / App developers – almost any IT related careers will be safe for a few decades yet.
#5 – Creative careers – almost anything ‘arty’ will be a great career in the future, thespians and painters, performers will always be needed to entertain. Let’s face it who want to watch movies with CGI and AI generated characters and scenes… oh hold on erm……
#6 – Dentists – I don’t know about you, but I’m not ready to let a machine loose on my teeth and gums thank you very much.
#7 – Marketeers – yippee, we’re safe (for now) as people’s tastes and interests change there’ll be demand for more and more information or products that match those trends, we’re here for the long haul people.
#8 – Hackers – I don’t mean those blackhat / dark web characters, no there’s already a growing demand for ethical hackers in the modern world. This won’t go away any day soon – count on it.
There you are, so you can sleep soundly at night knowing at least there’s still a need for some people to work. But you should seriously consider how you can future proof yourself, your financial independence and security in the future. Don’t rely on this job or any future job, create multiple income streams.
If you’re serious about starting an online business and want an entry-level coaching course, I’ve partnered with one of the most successful internet millionaires there is, go here and take a look here.
Catch you later….
Shiny Object Syndrome? Here’s The SOS Cure
It’s Tuesday, nearly the weekend! Not really, but let’s say its Friday. Guess what, when you are financially free and independent from a job, everyday will be like a Friday…
Anyway I digress,
Last time we chatted (well I chatted you read) I talked about Shiny Object Syndrome and the symptoms of it. I promised I’d help you fight the SOS ‘addiction’ so here it is….
DON’T BUY the SHINY OBJECT!
Ha ha, gotcha! Wait wait, that’s just me kidding around (well almost) as always with me there’s always a follow through / follow-up line.
DON’T BUY the SHINY OBJECT see if you can find it’s older brother / sister, it may even be free!
What the heck do you mean Peter? Some of you will be thinking (I don’t know what you others are thinking though).
Let me explain, so if you don’t recall the symptoms and stages of SOS go back to my previous newsletter and have a quick read, I can wait (well virtually in the cloud I can……)
Okay, back? Good.
This is what you do…. so the shiny object is called what? Let’s say it’s ‘Silver Bullet Widget SEO’ (You watch that’ll be a product on JVZoo in 90 days…)
By the way, if you want to be mentored on how to create and launch a product to market in 90 days – get in contact with me!
Right, so you know it’s SEO right (duh – yea!)
Now go watch their sales video and read the sales page, if there’s a demo video of the product watch that too.
While you’re watching look for the features and big problem that the product is solving.
When you have your list you do the following…
Go and search for those features and problems online. So use the the features as part of the search term along with SEO, look for the problem, but in the form of a question.. ‘how can I <problem>’…
‘Why can’t I <problem>’, or, ‘best ways to stop / solve <problem>’ or ‘system to <problem> for SEO’
The results you’ll get back will likely include the product (it better do as the product is the silver bullet SEO !!! LOL ), but also in those search results will be some golden nuggets.
Chances are you may well find a free older version of the one you were about to purchase, or just as likely a similar product that’s quite mature in it’s lifecycle but still available, potentially for less.
If you find yourself in this situation and you follow my ‘treatment’ let me know how you get on.
Until next time….
MYOB Journal week #2 – The 60 Day Challenge
Hi There, having a good weekend?
Enjoying the World Cup?
I know I am, but not just because of the great football, but for the financial gains I’ve made. But hey, you don’t wanna hear about that, you’re here for the Mind Your Own Business weekly journal update.
So last week you’ll recall I invested in the ‘Online Marketing Classroom’ the creators being; Aidan Booth and Steve Clayton. If you’ve never heard of those chaps (that’s British for ‘guys’ by the way) just use your favorite search engine and google ‘em.
So, come on Pete, how was week 2 then?
Week 2, which is actually the first week of diving into the member’s area. To be honest I was blown away (not literally you understand) by how much resources there is in the members area.
I would say if you’re a newbie there’s almost too much (except we all know there’s no such thing as ‘too much’ of anything – right?). There are so many alternate ways that you can use to start your online business, from ecommerce, to digital agencies, to affiliate marketing.
There’s even great tools that will help find that niche you so desperately want to get started in, tools to help build sales pages and I do mean SALES pages, they are pretty much plug and play. Every tool, every strategy has extensive online video training to go with it, along with downloadable guides and cheat sheets to help you get started.
The first thing these chaps suggest you do is take a long hard look at yourself and your situation where you are now, then taking that forward into where you want to be, including building a business plan that will take your ‘on paper’ idea into a full blown income generating online business.
So that’s how I started my week, going through the members area, browsing the subjects and strategies that I found immediately interesting then selecting the strategy that best fits my business plan, along with the underlying point that I was approaching this as if this was my first experience of online business. On that basis I’ve started on one of the programmes called The 60 Day Challenge, you can find this inside the members area once you have subscribed.
So, my first 7 days of the 60 day challenge will be spent selecting the niche and the product I want in order to sell that product and start to see money coming in. I’ll let you know how I progress in next weeks (#3) article.
Remember if you want to learn more about the product support I’ve subscribed to, then click on the links below to watch a free webinar, alternatively visit the product home page for an overview of the programme itself. Until next time, thanks for reading.
Fee webinar here: http://bit.ly/myobwbnar
Home Page here: http://bit.ly/1kmyob
Have you got SOS? Well chances are if you are in the throes of starting your own home-based business, especially if it’s an online based business, you will have fallen prone to SOS.
You’ll know the symptoms; you search for something relating to your niche
if you’re asking yourself “what’s a niche” – we need to talk, so get in contact with me!
Right there near the top of page 1 of the results is “This Game Changer will push your business in to overdrive” or some other exciting headline.
So before you know it, you’ve clicked the link, started reading the sales page, scrolling down while the sales video is playing – now come on, we’ve all done it!
And there is it is your special offer – only whilst you are visiting this site today, get your hands on the Silver Bullet Widget to riches all for just $27 !!!!!!
OMG you say to yourself, this is IT, this will change my world overnight – and you hit pay.
If you didn’t know already, those are the symptoms of SOS, the Shiny Object Syndrome.
Don’t worry it’s not your fault, even now I still have to catch myself following that exact same route, the difference now is, I am not so green as I am cabbage looking (do I really look like a cabbage?)
I’m wise to this and I’m aware of what my brain is trying to lead me in to. It’s certainly not as bad as some addiction like alcohol or drugs, but the sensations are very similar, you get really highly excited, then you come down real quick.
Then before you know it you’re subconsciously chasing the next shiny object, which you’ll justify the investment by convincing yourself it’ll turn your business around.
Well time for some cold hard truth – you can invest in EVERY tool out there, but the biggest thing holding your business back from success will NOT be having the latest tools, it will be …… (drum roll please)……………
TAH – DAH!
But before you sink into the chair and start wishing you’d never tried to become financially free, I have the antidote……
Oh look.. is that the time, sorry I have to go, but I promise I’ll tell you how to save yourself from SOS and STILL build your business, look out for my next article.
Until next time then……….
MYOB Journal week #1 A Little Help From My Friends | Mind Your Own Business
I’m still going to be in touch regularly with other great pieces of knowledge and tips to infotain (made up word) you, but from now on my MYOB (Mind Your Own Business) posts are going to be weekly. I’ll also share with you occasional videos on my site as well as videos and messages on my Twitter and FB pages, so I encourage you to link to my Twitter and my MBT page on Facebook.
If you are serious about starting an online venture and want to follow along with this MYOB Journal please bookmark my MBT site using the link below, friend and follow me on Twitter and Facebook. here’s the links – go do it now;
MBT blog category making-money-online < http://bit.ly/mbtjournal >
Right, let’s get started into the detail, shall we? As I mentioned in the previous post, I have subscribed to the following;
which is The ‘Online Marketing Classroom’.
Why this particular product Pete?
Well mainly because there was a lot of good reviews and comments online about both the product and the creators of the programme; Aidan Booth and Steve Clayton. I was particularly impressed with the depth of the content, tools, education, downloads, training sessions and numerous online strategies it is able to support.
As one of my main intentions is to extend this series past a single online venture, into other online enterprises, the OMC package covers all the bases and even promises to expand its ‘footprint’ as it and it’s members grow.
Now, as I have said in past posts, you have to be prepared to invest time and money in your online ventures if you are serious about creating multiple income streams. Unlike many online coaching programmes and so-called guru’s and products online, this particular programme, I believe, is not only affordable but is well worth it’s value.
There are two options; a monthly subscription or a one time life membership. For the purposes of this series of articles and as a new venture, I decided to ‘think like a newbie’ so I chose the monthly subscription, now once the product has proven itself to be of great value – I will switch to the lifetime membership, which I intend to do from the profits in my new venture.
I would recommend that strategy to anyone looking at starting or subscribing to a new plan / programme. You can always pay the extra for lifetime access once you know the programme is working and it’s for you.
So now I’ve signed up I need to get started with the training and the actions for next week – week #2, so check in next weekend and watch for the post subject MYOB (mind your own business) Journal week #1
Remember if you want to learn more about the product I’ve subscribed to, then click on the links below to watch a free webinar, alternatively visit the product home page for an overview of the programme itself.
Fee webinar here: http://bit.ly/myobwbnar
Home Page here: http://bit.ly/1kmyob
Until next time, thanks for reading.
Thinking of getting into affiliate marketing?
Start by creating a blog
Any blogging niche can make you money, as long as you know what you are doing. What does this mean? Affiliate marketing is not as easy s penning a blog, and then throwing in an affiliate link. Of course there is a possibility that it could work, and net you a sale, but if you are really serious about making extra money, then there are certain steps that you will be required to take.
1. Understand Your Target Audience
The first step to starting your own business will require you to identify your target audience. Figure out who they are, and then determine their interests. Having done this, think about the businesses, companies, and products that fit in perfectly with the target audience you have identified.
Start preparing a list and noting down all the ideas that cross your mind. From here, determine whether these businesses and companies have affiliate programs. As a part of start your own online business startup, you will need to do lots of research.
In the course of this research, you will find that most companies have affiliate programs, but they will not in any way make it easy for you to find this information.
2. Stick to Products and Services that You Would Personally Use
When recommending a product or service, make sure that you are not just tossing out links yet you know nothing about these products. If a person makes a purchase through your link, and the product they have purchased ends up being crappy, you can be sure that the said individual will no longer trust your links. A good way to market an affiliate product or service would be to draft a review of that product.
3. Market Your Affiliates Wherever You Can
When the review is complete, send it to your emailing list, post it on your social networking accounts, e.g., Facebook and Twitter, pin it on Pinterest, and be sure to share it with your Instagram followers as well.
Market the heck out of that review, and then let the internet do the rest.
Click here for more tips on how to earn extra money in affiliate marketing.
If you are interested in starting a small business but have no clue where to start you should download my FREE EBOOK below to get a list of small business ideas that you can later try out.
The growth of the internet has created many online home business ideas. One such idea is affiliate marketing. This is promoting other people’s products or services in exchange for a percentage of any sales that are made. Your main task is to send traffic to the merchant site.
The main benefits of this method of generating passive income are that it requires a small amount of capital to start and fits the pace of a person. It is an excellent way of making extra revenue while still continuing with your full-time job.
The more the sales, the more the income one generates and vice versa. Article writing and blogging are the two main techniques employed in marketing. Blogging is more preferred by many as it is interactive. This gives the blogger higher chances of converting traffic into sales.
You have to remember the choice of affiliate marketer or program determines how successful you will be in making money online.
About Peter Bright
Entrepreneur and Business Development Coach · Barcelona, Spain Several businesses including management consulting, social media, online businesses, property investments, passive income creation and second income creation.
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