Franchises – a French word meaning “freedom from servitude” – implies that the dream of being financially independent can come true. Just pay a fee and sign the papers and you become the proud owner of your very own business. Yes, you are the boss, you make the decisions, and you get the earnings. Someone else has done all the ground work, solved the anticipated problems, and is sharing their knowledge and experience with you.

However, thousands of franchisees have lost their life savings and their companies. The innocent purchaser realizes after-the-fact that he has no real choices about how the business will be run.

The rules and procedures that go with the “Name Brand” dictates every tiny aspect of how the business is to be run – color schemes, what is sold and who you buy it from, hours to be open, type of employees to hire and exactly how to train the employees. The innocent purchaser now has a new boss who is a hard task-master. This new boss comes in the form of detailed manuals that must be followed.

Do franchises ever provide true success? Of course they do! There are thousands of happy, successful franchise owners. However, if they are happy it is because they ‘did their homework’ before signing on the dotted line or putting money out. During the 1980s there were hundreds of fraudulent get- rich-quick franchise dreams available, which, because they weren’t all legitimate, gave franchises a bad name. By 1979 the Federal Trade Commission began requiring complete disclosure of all pertinent information pertaining to a franchise business.
(more…)

Franchises – a French word meaning “freedom from servitude” – implies that the dream of being financially independent can come true. Just pay a fee and sign the papers and you become the proud owner of your very own business. Yes, you are the boss, you make the decisions, and you get the earnings. Someone else has done all the ground work, solved the anticipated problems, and is sharing their knowledge and experience with you.

However, thousands of franchisees have lost their life savings and their companies. The innocent purchaser realizes after-the-fact that he has no real choices about how the business will be run.

The rules and procedures that go with the “Name Brand” dictates every tiny aspect of how the business is to be run – color schemes, what is sold and who you buy it from, hours to be open, type of employees to hire and exactly how to train the employees. The innocent purchaser now has a new boss who is a hard task-master. This new boss comes in the form of detailed manuals that must be followed.

Do franchises ever provide true success? Of course they do! There are thousands of happy, successful franchise owners. However, if they are happy it is because they ‘did their homework’ before signing on the dotted line or putting money out. During the 1980s there were hundreds of fraudulent get- rich-quick franchise dreams available, which, because they weren’t all legitimate, gave franchises a bad name. By 1979 the Federal Trade Commission began requiring complete disclosure of all pertinent information pertaining to a franchise business.
(more…)

Customers are now in charge. Thanks to the growth of the Web, it is easier than ever to comparison shop and switch from one business to another with the click of a mouse. However, research has found that in the online market, customers yearn for trustworthiness more than ever.

Customer relationships are a company’s most valuable asset – worth more everything else combined as no customers = no business. Getting and keeping more customers who stay with you longer is crucial. If your customers are loyal to your business, they will be much more likely to choose you over your competitors. Loyal customers will be much more likely to tell their friends about you. Loyal customers spend more and bring in even more new customers. Loyalty is immensely valuable. Research has shown that a 5 percent increase in customer retention rates results in a 25 percent to 95 percent increase in profits.

It’s easy to say customers are our most important asset but turning CRM strategy into bottom-line results is hard work. It means winning the battle for customers’ hearts and minds every day, with each interaction at every customer touch point. Long-standing relationships only arise from trust gained over many transactions and by customers’ belief that the company wishes to keep them around rather than drive them away.

Creating a customer-focused company starts with the definition of a CRM strategy, which must then be filled out with new work processes, organizational changes, and even a revamped corporate culture.

To create customers for life, customers who will become advocates with the perception (and don’t forget that perception is reality) they need to believe that you do what’s best for your customers, not just what’s best for your bottom line.

To do that you need to:

1) Find out what customers want and know what you are providing matches that. Do not start with the bottom line. Profit and cash flow are residuals of attention to the needs and preferences of your customers. Of course, profits are crucial. But long-term cash flow and profits come from regular customers.
(more…)

You’ve very likely heard of someone who is making a good living as a medical transcriptionist. He or she might even be working from the comfort of their home. And you’ve probably asked yourself if this might be a career option for you.

It may well be. Let’s take a look at the facts.

What exactly is medical transcription? In the course of their work, doctors and other healthcare professionals make dictated recordings of various things including physical examination observations, patient history, operative reports, referral letters, discharge summaries, observations regarding imaging data and so on.

A medical transcriptionist listens to these recordings and transcribes them into medical reports, correspondence, etc. She listens to a segment of recording, pauses the playback and keys in what is said before moving on to the next segment. She may do some editing for better grammar and clarity.

The transcribed document is sent back to the health care provider who then reviews it for accuracy and gets it signed. These documents become part of the patient’s medical history records and perhaps insurance records.

To be effective at this job, you should understand medical terminology well. That includes anatomy, pharmacology, diagnostic procedures, treatment assessments and more.

Many distance education programs, colleges and vocational schools offer post-secondary training in medical transcription. Having a degree is not essential. With a home-study course, you can usually pick up the necessary knowledge within a year, often in less than nine months.
(more…)