East Midland Franchise Show June 2009

I am delighted to have been asked back to talk at the East Midlands Franchise show.  The event takes place at the Leicester Racecourse on Saturday 20th.  My slot will be in the morning and if you are considering setting up on your own but want the security of working within a franchise than it may make good sense.

This year the organisers are thinking about people who have been made redundant as the following news release indicates.

Redundancy need not mean Redundant – say Franchise Show organisers

As more of us begin to revaluate career options with lingering uncertainty in the workplace, starting up your own business – via a franchise – has long been a route considered by individuals looking to re-invest redundancy pay off.

And most franchising companies will tell you that, although a bolt out of the blue, being made redundant can be the making of you. You could well end up happier, and better off, than someone else’s wage slave.

But are those claims slick sales talk from franchise companies who want you to invest in them? Or is there hard evidence to reassure those who do lose their job that using their pay off to fund a business will “pay off”?

Well the organisers of the East Midlands Franchise Show, arriving at Leicester Racecourse in Oadby on June 20th, claim that 9 out of 10 franchisees report profitable business a couple of years into their licence.

And to reinforce the point, the low level of commercial failure is something that the high street banks have picked up on. In this immediate post credit crunch era, some high street banks have even set up specialist franchise teams keen to invest in what the have judged a “safer bet” – and offer preferential banking terms too

So if the worst happens, why not just set up alone? Why not use the capital you would have to pay the franchise fee and instead launch your own copycat idea?

Marcus Remfry, of franchise show organisers Job Done Marketing, gives as good an explanation as any;

“A good franchise will have a good brand, strong national marketing, good support for the new franchisee and most of all – a ready made, proven manual of how to run the business. None of that is there for a stand alone new business.

Those factors make franchising work. It is a far safer bet for the new business owners to succeed – and make their investment work for them

In addition, the clue is in the attitude of High Street banks. Cutting back on almost all forms of lending is in the news constantly, but some have set up specialist franchise teams to invest in, what they see, as a safer business opportunity”

So if you are one of those facing the push from work, it may just be the push you need to succeed. There are five million self employed Britons working today – and in times of economic slowdown, that tally could rise. Considering all career options – including creating your own career in your own company – is one avenue many will consider more and more.

Background:

The East Midlands Franchise Show 2009 takes place on Saturday June 20th at the Leicester Racecourse Conference Centre, Oadby, 4 miles south of Leicester city centre.

The show is free to attend – no tickets required – and there are specialist career and start your own business seminars taking place throughout which are also free to sit in on.

There are 36 exhibitors with full and part time business opportuntites on offer – a list of whom is available online at www.eastmidlandsfranchiseshow.co.uk.

Working Breakfast members

The networking group I attend every Thursday – called Working Breakfast at the Regency Hotel in Leicester  – has asked it’s member to come up with some practical tips on how the beat the ecconomic downturn.  It’s aimed at small business owners.

The result is an 80 point tips booklet that you can have for free if you call me on 01858 44 55 43 or you can download it at www.workingbreakfast.com  I think that it contains some really good ideas and I’ve been very surprised at how well it’s been received – however numbers are limited to get hold of your copy today before they run out.

Also if you want to ever visit Working Breakfast to see if it’s for you please do so – just let me know in advance and I will bring you along as a guest – which means you get a free breakfast the first time you attend!

We all like to complain about things from time to time.  This BBC page has a summary of the past 12 months most controversial and complained about adverts.

What I always find interesting about these lists is how some things which seem harmless to me WILL cause offence in others.  Also how some very uncontroversial products of service will rely on sex or violence to sell. Judge for yourself at http://news.bbc.co.uk/1/hi/magazine/8020881.stm

Alastair Campbell from the Ideal Marketing Company delighted to be named as ‘best community business’

A local marketing firm from Market Harborough has been awarded the Community Business of the Year Award this week. Alastair Campbell, who is MD of The Ideal Marketing Company based in Coventry Road, was nominated for the award by clients. Over the past 12 months he has worked on the campaign to bring a cinema to Market Harborough, helped run the publicity for the town’s Arts Fresco event and also runs regular marketing seminars at Hothope Hall which are free to local businesses.

Six other local companies were put forward for the award which was organised by online business directory The Best of Market Harborough. Local business owners and clients were then invited to vote for the business that they considered most deserving of the award, with Alastair’s company The Ideal Marketing Company, taking over 50% of the votes.

Alastair was delighted to be presented with the award at the Angel Hotel on Wednesday evening at the Harborough Chamber of Commerce meeting. “It’s always nice to receive recognition for what you do, however, the greatest reward as far as I’m concerned would be if the plan for a cinema for the town actually succeeds, and the good that would do for the local economy,” he comments.

Alastair’s free bi-monthly marketing seminars for local businesses run at Hothorpe Hall in Theddingworth – the next one takes place on the evening of November 18th and is free to attend.  Reserve a place by e-mailing seminar@idealmarketingcompany.com or vist www.themarketingmentor.co.uk

Looking forward to this years Leicester business event at the Walkers Stadium on October 1st.  I had the peasure of talking at last years.  This year I am also speaking and have decided to take out a stand where people can book 1 hour marketing consultations.  Full details of the event are at:

www.leicesterbusinessevents.co.uk

I understand that it is free to attend and if you are in business in the area, will be well worth attending. There are host of seminar speakers booked for the day along with many stands and business oppertunities.

Hope to see you there. �

Thought you might like to see my new Marketing Mentor Website which is now live as in (almost) as I’d like it.  It offers more marketing ideas and advice and explains the low cost marketing mentor programme that I offer to small business owners. 

Visit www.themarketingmentor.co.uk so see it for yourself

Please feel free to add comments and make your thoughts known on what you think of the site.

How important is getting name recognition?  Just have a look at this clip of Welsh Culture Minister Rhodri Glyn Thomas announcing the wrong winner before correctly naming Dannie Abse’s The Presence Wales Book of the Year. (I can hardly look)

http://news.bbc.co.uk/1/hi/wales/7485572.stm

You won’t see many large companies letting their branding decline during tougher ecconomic times.  But smaller companies often cut their marketing spend at just the time that they should be expanding.

Pleased to say that the IOD Institute of Directors Magazine has recently published and article I wrote on how to market your business even during period of ecconomic decline.  Hope you find it of interest

http://www.director.co.uk/ONLINE/marketing_11_06.html

In an ideal world, marketing activity would be self supporting, always pay back multi-fold what it costs to execute, and be effective in reaching every potential buyer in the appropriate sector all the time. But in the world where the sky is blue, marketing activities are driven by several factors, including perceptions of the company and the head marketer there, economic forces that drive consumer behavior of all types and factors beyond your control.

As a result of these factors, marketing budgets are at the mercy of the reactions of the company to these perceptions. Many of these perceptions are flawed, skewed, marred by history, personal experiences of senior management, and most have no historical precedent or foundation.

Myth #1 – “Our brand is strong enough not to need support for the duration of the downturn.”

Fact: Few brands are strong enough to survive without advertising, product promotion and customer service support. Brands are like delicate houseplants – they need attention, support, bolstering, and polishing, (the marketing equivalent of nutrients, light and water) – or they will wither and shrivel to a shadow of their former self. This is not a position you want your corporate brand to be in when the growth engine for the economy revs back up.

Myth #2 – “If we cut back on marketing spending, we can use the money for other things internally, and increase the budget when things get better.”

Fact: Studies have shown that once that budget gets cut, it takes a herculean effort and a strong internal champion to boost it back to its former levels, and even if it does increase, there are much stronger conditions of ROI attached to its implementation. Once those funds are allocated elsewhere, they tend to stay there – after all, that other department doesn’t want to give them up either.

Myth #3 – “Nobody’s buying anything, advertising and promotions are a waste of money.”

Fact: Many studies conducted by prestigious business publications and university think tanks have come to the same conclusion based on the data they gathered on U.S. and in some cases global companies: Those that reduce their presence in their key service markets are in a far worse position in terms of profitability, market share and market competitive presence when the downturn eases and profitability growth returns than those that maintain their marketing activity levels. Those companies that are so bold as to increase marketing activity stand a great chance of taking market share from their less aggressive competitors and can rule the category if the downturn lasts long enough.

Myth #4 – “We can cut back [on marketing] now, and then ramp up quickly when things get better.”

Fact: This strategy has proven disastrous time and again, especially for companies that have inefficiencies inherent in their design, or product delivery channel. That inefficiency won’t allow them to “ramp up quickly”, since by that very inefficiency they will effectively always be “late” when timing the market – they are not market leaders but laggards, and thus the ramp-up activity gets started late relative to the buying cycle, and their more nimble competitors have already beaten them to the punch.

Myth #5 – “We should examine what’s working for us, and cut out everything else.”

Fact: This is not really a myth, but a knee-jerk reaction to a short-term slump in sales gross. Good marketing departments should be doing exactly that on a perpetual basis, not just when times are tougher. Why would any marketer worth their pay continue programs that didn’t work, effectively dragging down performance across the board and wasting money.

In addition, there should be metrics built into any campaign so that there is a way to “take the pulse” of its success, and mid-course correction is possible to boost effectiveness and increase ROI on a continual basis. Further, in some channels, there is a cumulative effect that blurs perceptions of what’s working and what’s not – interdependencies exist between channels that are not planned or scheduled but that live in the customer’s mind and trigger sales inadvertently. Cutting out what can’t be measured accurately hampers this effect, dragging down results with no apparent reason.

Myth #6 – “Marketing spends more money than any other department, they have the most room to cut budget.”

Fact: While spending may be a measure of power in some corporate structures, at least informally, return is really what counts when its budget review time. Marketing is one of the few departments that can actually point to contributions they make directly to the bottom line. There is a proven cause-and-effect relationship between sales gross and marketing expenditure for larger and enterprise-size firms. Increased spending in the IT department might yield long-term benefits, but better servers don’t often move more product, unless the product is server space. Cutting the marketing budget only reduces the opportunities available to build market share, boost product awareness and memorability in the mind of the consumer, and dampens profitability in the long run.

Myth #7 – “All of our competitors are pulling back advertising and media expenditures to save money, so we should, too.”

Fact: This kind of lemming-like sheep thinking can destroy your company! Your Mom knew better than this when you used the excuse “All the other kids are going, why can’t I?” and her response was likely something along the lines of “If the other kids jump off the bridge, are you going to jump, too?” Despite being competitors, their financials likely look a bit different from yours, and it’s foolish to think that you can mirror their moves and be successful – at best you will be equal! The smart money here is being used to take market share from your more timid competitors, by increasing presence and exposure, and cutting other less-than-mission-critical expenditures for a short period to accomplish it.

Bonus!
Myth #8 – “We should downgrade the quality of our marketing materials, use a cheaper creative agency, and mail out less frequently to save money.”

Fact: This set of moves will actually cost you both in the short- and long-term. You might save a very small incremental amount on cheaper paper, shorter, smaller brochures, cheaper handouts, smaller tradeshow giveaways – but the damage you’re doing to your brand and the resulting poor reflection on the company as a whole does far more damage than can ever be repaired by spending those few dollars later to try and fix it.

Not to mention shaking the confidence of your customers by giving them a visual representation of how poorly your company is performing! “Gee, they must be in trouble, this looks like cheap junk. Maybe I’d better take my business to the other company that’s likely to be around to support their products down the line,” is the thought you’re promoting by reducing quality in your publicly released materials.

Good design often costs less than bad design, due to fewer creative iterations, fewer miscues, greater effectiveness and higher return. Jumping ship from the agency you’re with if they are delivering on dollars spent just to save a little money is fool-hardy. The ramp-up time for a new agency to learn your needs, your products, your style and your brand will just about be exhausted by the time the average recession is over, and it will have cost you more to get the same level of productivity in that time, just in time to reposition for the new economic conditions.

When times get tough, the tough get going in the marketing department, providing the market with visual evidence of your corporate strength, your leadership role in the sector, your expertise in the market, and the supportive strength you offer for your products and services. Don’t believe the nay-sayers who want to slash your marketing budget, reduce your headcount and reduce the quality of your materials. Everything you do here reflects on the health of your company, and cutting here shows the most and helps the least.

The Right Way to Set Goals

by Ralph Jean-Paul

Ok so you decided that you want to set a goal. Good for you! What is it? Do you want to get in shape? Make more money? Maybe meet someone new and start a relationship? Whatever it is the important thing is that you’ve taken a step towards your goal. Now think about your goal. I’ll give you a second. Ready? Alright. On a scale of 1 to 5 (5 being absolutely confident and 1 being not confident at all) how confident are you that you can reach your goal? If you answered any number other than a five you are off to a bad start. Confidence and belief in your ability is crucial to your success. It’s not being cocky or egotistical but more like being sure of your ability. Read this quote and think about the idea.

“If you think you can do a thing or think you can’t do a thing, you’re right.” – Henry Ford

Why can’t most people keep their New Year’s Resolutions? Every year people make promises to themselves to change or add something to their lives. But by the time May or June comes around, most people can’t even remember what their resolutions were. I was one of those people until about 2003. After being frustrated about how my life was going and not accomplishing anything in my life that I wanted I decided to change. On January 1st 2003 I wrote down a list of things that I wanted to change. And I was determined to achieve everything on that list no matter how long it took. When I learned the right way to set my goals, achieving them became much easier

Write down your goals so they are clear.

Your goal should be clear enough to you that you can write it down. If you can clearly write down what it is you want to accomplish then it’ll be easier for your mind to adjust your thinking in order for you to start moving towards your goal. Reaffirming your ability can make a huge difference in the outcome of goal.

Have you ever seen the movie Men of Honor with Robert Deniro and Cuba Gooding Jr.? Cuba Gooding Jr. plays Carl Brashear who is a man trying to become the first African American Navy diver. Throughout the movie he faces opposition from those who don’t want him to succeed. Well the final test of his training is to assemble a flange while under water. To make it impossible for him to accomplish this, Deniro is ordered to cut the supply bag containing all of the parts and tools Gooding needs to do the job, and toss it into the water.

It’s a great scene because Gooding is under water and he sees his bag cut open and his supplies scatterd all over the river bottom. Hours pass and now it’s dark and cold and Gooding is still under water trying to put this thing together. Deniro is communicating to Gooding by radio saying “Give it up Cookie (Deniro called him Cookie in the movie) it’s not worth dying for”. Gooding answers with “My name is Carl Brashear, I am a Navy diver.” He eventually puts the flange together and becomes a Navy diver. Why am I telling you this? One reason is because I love the movie. The other reason is I want you to focus on what Carl Brashear was saying to himself while he was underwater. He kept on repeating to himself that he was a Navy Diver before he even passed the test.

Now think about your goals. Are they clear enough to you that you can specifically write them down? Are they clear enough to you that you can see yourself already there even though you are not there yet? If you want to advance in your career then you should already be thinking and acting like you are already there. How would you act if you were department manager? How would you dress? How would you treat people? How would you speak? Be as specific as possible even down to what you would smell like. The purpose of writing down your goals and reaffirming them is so your mind and habits can align.

Remove Roadblocks

There are two major types of obstacles that you will come across when you are trying to accomplish a goal or succeed at anything, internal obstacles and external obstacles. Internal obstacles include fear, procrastination, lack of information, denial, pride, or anything that you do to yourself that stops you from reaching your goal. External obstacles are the things that happen that you have little or no control over. When I was building this site I came across so many external obstacles that I was tempted to cancel the entire project. I will have a section on how to deal with the external obstacles but for now let’s look at what you can do to remove your internal roadblocks.

The first thing you should do when removing the road blocks is to identify what they are. Are you a big TV watcher? How much time a day or week does watching TV take away from what you are trying to accomplish. If you are trying to start your own business are there things you could be doing instead of watching TV that will help you succeed? The faster you identify your roadblocks and remove them the faster you will be able to see progress in your goal.

The way you set goals may be just as important as what you do to accomplish that goal. Before I knew the right way to set goals, I would fail miserably at almost everything I attempted. It wasn’t until I realized that the foundation for my goal wasn’t stable enough. It is like trying to construct a building with a weak foundation. This is a common mistake that many people make when they want something. The sooner you can get into the habit of setting your goals right the first time, the sooner you will achieve them with a lot less hassle.