Your Most Effective Self-Marketing Tool – Part 2 of 2

Posted on February 24, 2011 | Posted in Articles

 

4. What positive, tangible results did you produce? (Quantify if possible)
Examples:

  • Increased efficiency or productivity? (How? Results?)
  • Solved difficult problems? (How? Results?)
  • Saved the company money? (How? How much?)
  • Increased sales or profits? (How? By how much?)

5. What skills did you demonstrate?
Examples:

  • Analysis
  • Persuasion
  • Problem-solving
  • Communication

It may take some time to develop your full collection of Accomplishment Stories, but it will be time well-spent. Once you become adept at using your Accomplishment Stories, your search results will dramatically improve and you'll receive far better job offers!

 

To read the entire article, click here.

Your Most Effective Self-Marketing Tool – Part 1 of 2

Posted on February 22, 2011 | Posted in Articles

 

Contrary to popular opinion, you should never rely solely on your résumé as you pursue a job search. Your "Job Seeker's Tool Kit" should be filled with a variety of documents that will enable you to successfully market yourself with power and professionalism.

Of all the tools in your "Job Seeker's Tool Kit," the one that will "sell you best" is your Accomplishment Stories. Yes, these will market you even more effectively than the resume. Why? Because Accomplishment Stories state very specifically what positive things you have done for your previous or current employer, and therefore clearly indicate what you will be able to achieve for your NEW employer! So, if you're not using this powerful tool in your search, you're making a big mistake.

Accomplishment Stories should be written on separate pages (one story per sheet), following the structure shown below. Give a short title to each story, and type it at the top of each respective page. Make sure to use strong action verbs at the beginning of every sentence, and avoid passive-sounding phrases, such as "responsible for." Write your Accomplishment Stories answering the questions below, in 5 distinct paragraphs. You'll be TELLING these stories; not using them as handouts. So, you'll want to commit the text to memory and practice delivering them! Here are the questions to answer in your five paragraphs:

1. What was the business problem, need or challenge?
Examples:

  • Revenues decreasing (How much? In what timeframe?)
  • Competitors out-performing the company (How? With what impact?)
  • Poor productivity (Why? How measured? Since when?)
  • Inability to meet manufacturing targets (Why? Since when?)

2. What did you do about it? (Not the team or department – YOU).
Examples:

  • Assumed management of work groups, departments or projects? (Who? How many? Results?)
  • Hired or trained new employees? (Where? How many? Results?)
  • Increased production? (How? Results?)
  • Developed or implemented new systems or procedures? (What? Benefit?)

3. How did you do it, specifically? 
Examples:

  • Developed, created, designed or invented something? (What? Why important?)
  • Achieved more with the same/fewer resources? (How? Results?)
  • Reduced downtime? (How? How much? Result?)
  • Improved safety record? (What? Result?)

To read the entire article, click here.

Maybe The Employer You’re Looking For Is You!

Posted on February 17, 2011 | Posted in Articles

 

With all the challenges of the current job market, it’s no wonder why many of my clients have been asking about going into business for themselves. Sometimes, it’s a good choice to become an entrepreneur; but sometimes it’s not. To address these questions and inform people about the pros and cons of self-employment, I’ve put together a seminar entitled, “Exploring Self-Employment Options.”

If you've always yearned for more independence, autonomy and self-expression in your work; if you've always believed that "you could do it better yourself;" if you want to create something great in the marketplace – then I’m sure you will find this program helpful.

We will explore the four distinct "entrepreneurial paths," including: (1) becoming a consultant, (2) buying an existing business, (3) buying a franchise or licensing, or (4) starting a business. Through a highly-interactive discussion format, participants will be provided with a host of vital questions to ponder and factors to consider. You'll discover if self-employment is potentially right for you – and if so, which of the four models might serve you best. You'll also leave this seminar with a clear sense of what your next steps should be in exploring your entrepreneurial potential.

I hope you’ll join us.

Here are the program details:

DATE: Wednesday, February 23, 2011, 9:00am to 11:30am.

PRESENTER: Ford R. Myers, President of Career Potential, LLC.

LOCATION: Radnor Financial Center, 150 N. Radnor-Chester Road, Suite F-200, Radnor, PA.

REGISTRATION: Sign up online at http://www.careerpotential.com/signup, or call 1-610-649-1778.

COST: $25.00, pay with your online registration. 

The Franchise Advantage – Part 2 of 2

Posted on February 15, 2011 | Posted in Articles

 

History of Franchising

The concept of franchising was born centuries ago. During the Middle Ages, local rulers granted to their subjects rights pertaining to specific activities, such as holding fairs or hunting on the ruler’s land. Later, monarchs granted similar rights on a larger scale, such as building roads or brewing ale. The Church granted the same kind of commercial interest when it allowed its tax collectors to retain a portion of what they collected.

In the middle of the 19th century, the Singer Sewing Machine Company began granting franchises for distribution of its sewing machines. By the beginning of the 20th century, the emerging automobile industry and the increased demand for local dealerships was contributing to the growth of franchising.

The modern age of franchising began in earnest around the middle of the 20th century, when Ray Kroc bought the rights to franchise a California drive-in restaurant owned by the McDonald brothers. The success of McDonald’s franchises led to explosive growth in Business Format Franchising. The increased standardization of operations now found in most major franchise businesses has played an important role in making franchising an attractive business model for both franchisor and franchisee!

Benefits of Franchising

Franchising is about minimizing risks and maximizing returns. It has often been said that franchising allows entrepreneurs to “be in business for themselves, but not by themselves.” A quality franchisor provides proven operating systems, solid research and development, established marketing methods and instant credibility – plus extensive training and support – all of which can reduce risk and build success more rapidly and affordably than in an independent business.

Franchising is also about “the big idea.” As an aspiring entrepreneur, you may have all the ability and ambition necessary to succeed – but without a compelling concept to sell, your business will not go very far. As a franchisee, however, you will be in a position to leverage some of the most innovative products and services available in today’s marketplace!

Business success requires going through a learning curve for the type of business you’re in. With franchising, the franchisor has already gone through that process and is highly motivated to share with you everything that has been learned. Franchises succeed because the franchisor has invested the resources to truly understand the business. There is a proven formula for success ready and waiting to be adopted by the new entrepreneur. How many non-franchise, independent businesses can say that?

And, because a franchise represents a large number of units with established track records, the prospective buyer has access to much more of the data required for sound investment decisions than would be available with a non-franchise start-up. Being able to study the actual performance of identical business entities is invaluable – as is the contact you’ll have with other franchisees, who can provide real-world insights into what it takes to succeed in the specific business you’ve selected.

Conclusion

Franchising is certainly not for everyone, and every business model has its “pros and cons.” But if you've always yearned to own your own business, can’t return to your old career, or just want to escape the "corporate rat race," franchising may offer the solution you've been looking for. Franchising has many appealing and practical elements, and it just might be the best path for you to regain control of your future!

To read the entire article, click here.

The Franchise Advantage – Part 1 of 2

Posted on February 15, 2011 | Posted in Articles

 

In today’s challenging economy, many people feel that they have lost a sense of control over their careers. Widespread corporate layoffs and downsizings have made the job market a tenuous environment in which to build a solid future. As a result, a growing percentage of my career consulting clients are turning to entrepreneurship as a viable alternative.

Indeed, one of the best ways to gain more control over your career is by owning your own business. Your options include: (1) becoming a consultant; (2) starting a business “from scratch;” (3) buying a franchise; and (4) buying a non-franchised business.

Of the clients who have elected to pursue the “entrepreneurial option,” most have invested in franchises. Franchising has never been more popular, and the range of opportunities has never been broader. Owning a franchise combines the stability of a proven business model with the independence and income potential of self-employment.

Joining with an “established business system” is generally comfortable and familiar for executives who have spent their careers within corporations. It is important to understand, however, that acquiring a franchise is NOT “just buying a job.” When you purchase a franchise, you OWN the business.

Such notable publications as Business Week and The New York Times have recently published articles stating that franchising may be the BEST option for mature executives who have been displaced, but who are not ready to retire!

In order to make an intelligent determination as to whether franchise ownership would be right for you, it is important to first gain a basic understanding of the industry and the opportunities it affords.

What is Franchising?

According to the International Franchise Association, the leading professional organization in the industry…
Franchising is a method of distributing products or services. At least two levels of people are involved in the franchise system: (1) the franchisor, who lends its trademark or trade name and a business system; and (2) the franchisee, who often pays a royalty and an initial fee for the right to do business under the franchisor's name and system. Technically, the contract binding the two parties is the "franchise," but that term is often used to mean the actual business that the franchisee operates.

Franchising is also known as "a continuing relationship in which the franchisor provides a licensed privilege to do business, plus assistance in organizing, training, merchandising and management, in return for a consideration from the franchisee."

To read the entire article, click here.

Networking – The Core of Your Search – Part 2 of 2

Posted on February 10, 2011 | Posted in Articles

 

3. Share “what happened” with an Departure Statement. This is a concise explanation of why you’re no longer at your previous position, or why you’re interested in leaving your current employer. Example: “As a result of a merger between two business units, over 1,500 positions have been affected, including mine. I now have the opportunity to explore other career options in Financial Services that will leverage my proven strengths in analysis, problem-solving, communication and innovation.” The Departure Statement must be expressed in positive terms, so there will be no suspicion that you “did something wrong” to lose your job.

4. Ask for help. “Would you be willing to help me?”

5. “Decompress” – take the pressure off – reassure your contact again that you are not asking for a job. Reiterate, “As I said, I am not asking you for a job, nor do I expect you to know of any appropriate positions. However, I am interested any advice or guidance that you could offer, in addition to any networking contacts you could provide. (Give name of mutual friend/colleague) told me that you’d be a great person to talk to for this purpose. Would you be willing to review some of my credentials, and give me candid feedback? I could send the materials right over.”

6. Ask again for help, i.e., expanding contact network, guidance, advice, feedback. Leverage the notion of “six degrees of separation” – ask for contacts from your contacts! And always “come from generosity.” This means you should be on the lookout for opportunities to offer something of value in return.

7. Share your main documents, and set a time to get back to them.  State, “I’ll e-mail (or fax) a one-page Professional Biography and list of Target Companies to you. Then I’d like to follow-up and have another conversation – when would be better for you, Wednesday afternoon or Friday morning? I know your input will be of great value, and I appreciate your willingness to help. Follow-up after your networking meeting and keep the conversation going with two-way value exchange. Note: if the contact is a “center of influence,” try to have your follow-up discussion face-to-face instead of on the phone, unless the contact is outside your geographic region.

It’s a smart career move to always be networking, no matter what’s going on for you professionally. If you don’t need help at this time, build-up your networking power by helping others. In general, people will want to help you. It makes them feel good about themselves. It boosts their self-esteem to be considered “a connector” of people with opportunities and information, and it makes them feel important.” Networking is a great investment in your future, and over the long-term, it always pays big dividends!”

To read the entire article, click here.

Self-Employment Options – Part 2 of 2

Posted on February 3, 2011 | Posted in Articles

 

Start a New Business – unique considerations

What market will the business serve?
- What industry will your business be in
- Will you be creating consumer demand, or meeting a need
- What are the specific needs of this target market
- Have you tested your product to be sure there is a market
- What kinds of customers would you like to be working with
- Where will your business be located

What products or services will you offer?
- Will you be providing services or products, or both
- At what price will you sell your products and services
- What will be the benefits to your customers
- What will be unique about your products or services

Who will be your competition?
- Why would a customer choose you over their current supplier
- Find three companies you will be competing against
- What kind of reputation do they have
- What will be your competitive advantage

How will you market and sell your products or services?
- How will potential customers find out you exist
- What strategies will you use to promote the business
- What sales volume and profit margins will you need to succeed
- What selling system will you use to become successful

How will you finance the business?
- How much investment will it take for the initial start-up
- What will be the primary operating costs
- How much will you need to keep in reserve
- What portion will need to be financed, and how

Buy a Franchise – unique considerations

What type of business do you want to be in?
- Retail, Food, Manufacturing, Services, Distribution, etc.
- What specific products or services will you offer
- What kind of image do you want for your franchise business
- Will your customer base be consumer or business
- What size business would you like to operate
- Will you have employees or contractors; both or neither
- What kind of revenues and profits will the business generate
- Where will your business be located; one or more units

How do you envision your own role?
- How will your work in the franchise match your lifestyle needs
- What tasks do you foresee doing on a daily basis
- How many hours do you plan to work and when
- What work will you delegate and to whom
- How will your role change over time

What will you expect from the franchisor? 
- What is most important to you about the franchise company
- What is the quality of their reputation, brand name, products
- What will you need to learn from the Franchisor to create success
- What training and on-going support do they offer
- What is the company’s financial structure and royalty fee
- What will the Franchisor do to help market and grow your business
- Will you feel comfortable having an on-going relationship with them

How will you finance the purchase?
- How much must be paid up-front in cash vs. financed
- How much will the total investment be, and with what terms
- Where will you get the money to buy your franchise
- Will the Franchisor help with financing
- Will you be comfortable with the franchise’s royalty payments

Your Qualifications for Owning a Business

The main categories of ability include:

  • Marketing and Sales
  • Financial Management
  • Operations and Administration
  • Human Resources
  • General Management

For each category above, answer these questions:

  • What results will the business require each year to become and remain successful?
  • What education, training or experience do you have to indicate that you will be capable of producing desired results?
  • Are you personally interested in, and willing to do, the required tasks?
  • If you do not plan to lead specific parts of the business, who will run them, and how much will you need to pay those people?

Predictable Challenges

Do you feel certain or doubtful about self-employment?

- Where are you on the continuum
- Is business ownership the right choice for you
- Your reactions are normal at this point

What are the major challenges or obstacles you will face?

- First challenge
- Second challenge
- Third challenge

What are your biggest concerns or fears?

- Your own abilities
- Making a mistake
- Funding and financing
- Selling and marketing
- Possibility of failure
- Inadequate support system

What questions or issues do you still have?

- If business ownership is NOT for you, what other path will you take
- What information do you still need to make your decisions
- What resources will you leverage to move forward
- What support and advice can you take advantage of
- Other questions or issues
- How will you get answers and resolution

There are answers to your questions, and there is help to get you through the transition effectively!

Five More Questions to Consider:

  1. Two years from now, the qualities that I want most in my work/career are:
  2. Will I have those qualities in my work if I continue doing what I’ve been doing?
  3. If not, what changes must I make in order to make these qualities a reality?
  4. Could business ownership or franchising help me create these desired qualities in my work/career? How?
  5. If interested in business ownership, the next steps I should take are (include approx. dates for completion):

What are Your “Pros and Cons” for each option? (Answer the questions below)

1. Become a Consultant

Pros:
Cons:

2. Buy an Existing Business

Pros:
Cons:

3. Start a New Business

Pros:
Cons:

4. Buy a Franchise

Pros:
Cons:

In reviewing this brief list of “pros and cons” for each of the four options, which choice seems best for you right now? Why?

Online Resources to Explore:

Inc. Magazine
Small Business Knowledge Base
Kauffman Foundation
The New Way to Work
U.S. Chamber of Commerce
Online Resources for Business Ideas
Solutions for Growing Businesses
Resources for Entrepreneurs
Counselors to Small Businesses
Resources for Home-Based Business (business letters)
Fast Company Magazine
Yahoo Small Business
All Business
Business Plans
Business Owners’ Idea Café
Business Town
More Business
Red Herring Magazine
Small Business Administration
Start-Up Journal (Wall Street Journal)
Tanned Feet (Entrepreneur Help Page)

To read the entire article – click here.

Self-Employment Options – Part 1 of 2

Posted on February 1, 2011 | Posted in Articles

 

In considering the self-employment option, there are two main questions to ask yourself:

  1. Is self-employment potentially right for you?
  2. If so, which of the four paths to business ownership would be best for you?

You have two main career paths: Self Employment vs. “Getting a Job”

Is Business Ownership Right for You?
Three questions to help you discover an answer:

  1. Why are you exploring entrepreneurial alternatives at this time?
  2. Rate your desire/motivation/commitment to have your own business, 1 to 10 (10 being the highest)
  3. If you could find the ideal job OR own your ideal business, which would you choose TODAY?

Re-focus on the first question. You must understand your core motivators:

- What’s your WHY?
(Lifestyle, income, image/prestige, leave a legacy, control, build equity, self-expression, independence, make a difference, passionate interest, etc.??)

- Unless you identify and hold onto your deepest need and desire, your chances of success are not strong.

There are Four Paths to Business Ownership:

  1. Become a Consultant
  2. Buy an Existing Business
  3. Start a New Business
  4. Buy a Franchise

Become a Consultant – unique considerations

What markets will you serve?

- What industries, market segments and departments might need your services
- What are some job titles of potential buyers
- What are the needs or problems of your target market
- How do you know there will be a demand for your services

What services will you offer?

- List three specific services or resources you could offer to help organizations solve their problems
- How will your consulting services make a tangible difference to client organizations
- What results do you expect to deliver

Who will be your competition?

- Find three consultants or consulting firms in your area who offer services similar to yours
- What is their reputation, history, expertise
- How will your services compare to theirs
- What will be your competitive advantage over them
- Will you have the chance to work in cooperation with them

How will you price your services?

- How much revenue will you need to generate first year
- What on-going costs will you need to cover as “overhead”
- What is the “going rate” for services like yours
- How many days must you work annually to reach your goals
- How long might a typical assignment last

How will you market and sell your services?

- How many prospects/clients would pay for your services right now
- How will you identify and qualify additional prospects
- How will you develop strategies to promote your services
- What system do you have for the selling process

Buy an Existing Business – unique considerations

What type of business do you want to buy?

- What products or services will you be selling
- What kind of image do you want for the business
- Will you serve consumers or other businesses
- What size company would you like to operate
- Where do you want the business to be located
- Will you have employees, independent contractors, or both
- What kind of revenue and profits will the company generate

How do you envision your own role?

- What will be your primary tasks day-to-day
- What will you delegate; how and to whom
- How many hours per week will you work, and when
- What do you expect from the seller, during and after the sale

How will you finance the purchase?

- How much can you afford to invest of your own liquid funds
- Will you be borrowing, and how much
- Is your investment range specific and realistic
- Where will you get the money, and from what source, at what terms
- Do you have enough money to carry you through a reasonable “ramping-up” period
- Do you have a financial “cushion” just in case

What will you expect of the seller?

- What business documentation will you need from the seller
- How will you carry-over the company ’s reputation and “good will”
- Will the seller work at the company through the transition period
- What training / support will you need from the seller; for how long
- Will the seller be involved in the financing of your purchase
- Will the seller be available for “emergency” questions and issues

To read the entire article – click here.