Typically many small or medium sized businesses do not have a marketing department. That in itself is not necessarily a material gap in the strength of organization, or its structure. Often the Owner or President takes responsibility for creating and developing the corporate entity as a brand.
“The Diffusion of Innovation”, a book by Everett Rogers, published in 1962 describes classifications of groups of people and how ideas and innovations are spread in society.
Rogers was a leading academic and sociologist, and in his work he considered that there are 5 types of individuals, who behave quite differently when faced with change.
The biggest issue that most privately owned enterprises, large or small, have is money – or specifically insufficient capital. In normal times its wise to have at least three times what they think they’ll need to weather pressures on cash flow. In a downswing, managing cash is the #1 priority.
David Milman ran a successful business as a professional engineer for years before making a rather unusual career move. Four years ago, he bought the rights to a Toronto franchise of Senior Homecare by Angels, a U.S.-based in-home care provider.
If there is one thing businesses hate, it is uncertainty. The economic downturn forced companies to put their plans on hold, and in some cases, abandon them entirely. With fears of a double-dip recession lurking, some small and medium-sized business are doubting whether now is the right time to pursue expansion. But planning and implementing their goals does not have to be delayed.
The last 2 years have been relatively free from job jumping and high employee mobility. Everyone appreciates the muddle the world economy is in, and it seems wise to be patient and less demanding, if only to keep your job. But once the turnaround gathers momentum, you can be sure that staff will be looking to take advantage of the perceived improved business climate.
Standing out in a sea of competitors is a challenge for any organization in a faster moving, over- communicated market place. Proof? Check out the blitz of messages you are receiving every day in newspapers, magazines, flyers, TV, radio, the internet, on the roadside, wherever you turn there is another commercial. How can your customer possibly notice you in such a cluttered environment?
There comes a time when most businesses plateau in terms of its overall performance and a decision is taken by the owner to expand in order to increase sales, profits and maintain the business’ competitive position. These owners will understandably explore franchising as a model for growth and expansion.
Most people often think of fast food when they consider franchising. It s no longer the case as the franchise business model can be found in almost every industry including retail, home services, automotive, business services, real estate and lodging.
Every company has a culture, a set of values and patterns of behavior. Many have not or cannot articulate what their culture is or what they would like it to be. The same is true for company values, what the current company values are and what values you believe the company should aspire to embody.