Monthly Archives: July 2019

July 19, 2019 · 1:07 pm

Foreign Flavors

This Foodie Friday, let’s think about the Black Cheese donut. Yes, there is such a thing although unless you live in Jakarta you’ve probably not sampled one. It’s a donut that’s glazed in chocolate icing and then rolled in parmesan cheese. No, I’m not making this up – you can find them at Dunkin’ outlets in Indonesia.

Then there is the Thai snack food of BBQ-flavored fish. They’re bite-sized – yum! You can buy a creamed corn pie (think apple pie but creamed corn) at KFC outlets in Japan or haggis-flavored potato chips in Scotland. If you want a brief around the world tour of some odd food products that will probably seem strange to those of us with American palates, click here and scroll through 46 of them.

The thing is that they’re not odd, not to the people in the areas where they’re made and distributed. As with most things, if there wasn’t demand the product wouldn’t continue to exist. The fact that they got made in the first place is a tribute to anyone who was involved in the process but for whom the product has no appeal. Ignoring our own prejudices is something that helps us succeed in business. Most of us aren’t the typical consumer of our product and, therefore, must keep an open mind where research or other data tells us that there is a market opportunity.

You might not need to be reminded that not everyone sees the world in the same way. One glance at the evening news or even your own social media stream will confirm that for you. Not everyone will love a Black Cheese donut but apparently, enough people do to justify their continued presence on Dunkin’s shelves. We need to try some flavors that are foreign and, even if we don’t like them, remind ourselves that others do.  Crab flavored Pringles might not be your thing. Maybe you prefer the Iberian ham chips. I had my first ketchup flavored chips when I was in Canada. They seemed like a good idea – ketchup goes on french fries which are potatoes, so… Well, they weren’t, but I don’t think any less of our Canadian brethren for making them popular.

Want to keep your business open? Keep your mind open as well. The flavor might only be foreign to you!

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July 17, 2019 · 12:41 pm

Becoming An Icon

What do you think of when you hear the word “icon”? You might think of those little squares on your smartphone screen that link you into an app. You might think of some other graphic that has meaning in the way that it looks. Or you might think about someone or something that is a symbol and is the object of uncritical devotion, as the dictionary defines it. It’s this last meaning that I want to address today.

Photo by Agnieszka Kowalczyk

You can probably think of several iconic brands – companies that are market leaders and offer great (read that as high-value even if they’re not high-cost) products to their customers. Disney, Apple, and others would qualify here. They have a lot of things in common despite their very different business sectors. They have strong branding that is unique in the consumers’ mind. The brand itself has a clearly defined meaning in those minds as well. Customers know what to expect and the reality of the product they receive usually beats those expectations.

Icons offer high value. Customers get their problems solved at what they perceive to be a fair investment of time and money. Icons are also very consistent – it’s a repeatable brand experience. Lastly, their positions are highly-defensible. It will be very hard for another brand to take its place. None of that is news to you, right?

The question I have is why don’t we think of our personal brands in the same way? Do we think about becoming an iconic business person, one that has a strong, unique branding in the business world? Are we consistent, offering all of those with whom we interact the same, high-quality experience? When people deal with us, whether they are partners, clients, suppliers, peers or employees, do they know what to expect? Are they excited about that prospect because they know a positive experience awaits?

In a world where we’re heading for a million corporations of one, your personal brand is becoming your corporate brand. Why not make it as iconic as you can?

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July 15, 2019 · 11:37 am

The Fear Barrier

I spent last week at a conference of franchise consultants and franchisors. If you’ve read this blog before you’ll know that one of the recurring themes is the need to be learning constantly and going to meetings like that one is one of the best ways to educate yourself. After all, who knows more about that challenges that you face in your business than other folks who are dealing with the same issues?

One issue that came up a lot in my conversations with my peers is the issue of fear. We’re in the business of helping people realize their dream of business ownership. We find out their “why” and then find businesses – franchises – that match their goals and their budgets. In the process, we end up sending them a lot of very specific information about potential investments and it’s at that point that the fear barrier sometimes kicks in.

Imagine that you’re looking at several opportunities that could make your dream come true. You have the resources to make it happen. The next step is for you to speak directly to the development people at the brand and to continue your investigation. What often happens at this point is that people “go dark.” They don’t respond to phone calls or emails. I suspect that it isn’t that they’re not interested but, rather, that they’re TOO interested and suddenly things are VERY real. The notion of quitting your job and investing your savings in something completely new can be terrifying.

The people with whom we’re having these discussions identified themselves. They filled out a request to chat with someone about franchise opportunities. They WANT to make this happen, or at least they want enough information to see if that’s what they want. I’ve had people say they’ve reviewed the information and a company I’ve found for them isn’t quite right. That’s fine: we keep looking (I represent over 500 different brands). They’re not unafraid but they’re not letting the fear paralyze them. They use it as motivation. They believe that they can change their lives for the better and 94% of the time they will be right (that’s the percentage of franchisees that consider themselves successful).

No matter whether you’re looking at franchises or at changing companies or jobs or careers, the fear barrier will be there. The people who are truly successful – the ones who realize their dream and find self-fulfillment – are the ones that break through the fear barrier, not waiting for the “right time” or accepting the things in their lives that are really unacceptable to them when they step back and think about it. Is that person you?

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