Category Archives: Thinking Aloud

When I’m…

Most of the time, this blog is about you, or at least about something that I think could be helpful to you. Today, if you’ll indulge me since it’s my birthday, it’s mostly about me, although maybe there’s something you could take away as well.

When I was 12, The Beatles put out the Sgt. Pepper album. It had a little ditty called “When I’m 64” on it. While to most of us the song was brand-new, it turns out it was one of the first songs Paul ever wrote and was in The Beatles performance repertoire quite early on (they played it when their amps went out). It seemed kind of hokey to 12-year-old me and the lyrics about being old and losing my hair seemed very far off.

Well, that was in 1967, and if you can do the math, it’s 52 years later. So let’s see – I was 12 and if add 52 that’s OMFG – I’m 64! Well, happy frickin’ birthday, old man. Yep, the future is now. My hair is mostly gone too. I don’t, however, ask myself if I’m still needed (nor do I have Vera, Chuck or Dave as grandchildren). I also realize the song is about getting old together and is sung by a young person. 64, by the way, is still pretty young. That said, may I impart a little wisdom from this almost-aged one?

I try to live in the moment. I’ve made an effort to stop looking back and wanting things to have been different and I try not to look too far forward because things happen each day that affect what the future might hold. That’s not as easy as it sounds, at least not for me. When I do look back, I try not to think of things I would do differently as mistakes but as lessons. I’ve always been a pretty good student and have never had to repeat a class so learning those lessons thoroughly prevents the outcomes I might change from happening again.

Like most of us, I’ve experienced unbelievable joy and unbearable sadness. The trick isn’t, as some folks say, not to get too caught up in either. I think experiencing them fully is the best (and worst) part of being human. It’s when we stop feeling and are emotionally dead to the world that we have problems. I just try to remember that the highs and lows will pass and while each of those extremes affects us in some way, the changes they bring make each day more interesting than the last.

Mostly, what I’ve learned is exactly that: it’s about constant curiosity and learning. Growth and wisdom come from that learning and we’re all in this together, like it or not. Helping others to grow and to learn, as I set out to do as a teacher 40 years ago and still do now in a different way, assures that the world answers the “will you still need me” question in the affirmative. Does that make sense?

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Filed under Helpful Hints, Reality checks, Thinking Aloud, What's Going On

False Inferences

This Foodie Friday, let’s give a round of applause to Burger King, A&W, White Castle, and all of the other burger chains who are beginning to serve Impossible Burgers. OK, throw in the donut chains who are serving the Beyond Meat “sausage” products too. Are they indistinguishable from their meat-based versions? I have no idea – I generally don’t go to QSRs when I want a burger although I might have to just to try one out.

The round of applause is not for taste but for trying to expand their customer bases to include vegetarians and vegans. My vegan daughter will (rarely) go to a QSR and get what amounts to lettuce and tomato on a bun (think a chicken sandwich without the chicken) although some of the chains offer truly vegan patties and sandwiches.

Burger King is not one of those – their veggie burger has both milk and eggs in it. However, they are one of the first chains to add the Impossible Burger to their offerings. As it seems with many things business-related, there is a dark lining to the silver cloud. It turns out, unless you specifically ask, the Impossible Burger is cooked with the same broiler as regular burgers and chicken. So much for vegan or even vegetarian. Burger King says that 90% of the people who ordered the Impossible Whopper during a trial run this spring are meat eaters, which means most diners may not care if their faux-meat patties are cooked alongside classic beef ones. In fairness, they don’t label the product as vegan either. Still, it raises a point I want to bring to the surface today.

Humans make inferences. We use our beliefs as assumptions and make inferences based on those assumptions. We do that because we can’t act without them. We have to have some basis for understanding and the only way for us to take action is to use our assumptions to make inferences. An assumption is something we “know” based on our beliefs or previous experience.

When Burger King offers a burger that is a vegan alternative to a meat-based product (something that’s known) you can see how a customer will infer it’s still vegan even when it’s not labeled as such.  If there is room for the customer to draw a faulty inference based on reasonable assumptions, I think we need to go out of our way to correct them. I also think that it’s way out of bounds to create those false inferences knowingly – having the customer see that something is 35% off and a good buy when you marked it up the week before with the intent of marking it back down.

The difference between “relaxing” and “wasting time” is all in the meaning we assign to what we’re doing, the inferences we draw. The difference between “selling” and “dishonesty” or “hyperbole” or even “grifting” is also based on inferences. Not allowing customers to draw a well-constructed line from their assumptions to inferences and meaning is bad business in the long run, don’t you think?

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Filed under food, Huh?, Thinking Aloud

Why Doesn’t Everything Have An FDD?

Have you ever heard of a Franchise Disclosure Document? I hadn’t either until I became involved in matching people up with franchise opportunities. You can read about what the FDD entails here but in a nutshell, it’s meant to be a document that provides enough information to someone thinking about investing in a franchise so that that person can make an educated decision about the investment. It’s sort of like a prospectus you would receive before you invested in a mutual fund or a stock.

If you’re someone who is looking at franchises, putting the FDD’s of a couple of brands in which you’re interested side by side can be enlightening. You will see the differences in the ongoing fees you’re going to be paying as well as the estimated start-up costs you’ll incur. You can look at how many franchisees have joined the system over the years and where they’re located. You can see if any have left the system as well as if there are any bankruptcies or legal actions. You’ll see any differences in how they define the territory to which you’re getting exclusive rights (and if the rights you’re getting are, in fact, exclusive). In short, you’re being given a document that provides the bulk of the information you would probably have to spend weeks researching on your own if you could even find it.  In fact, the FDD even gives you a list of current franchisee so you can “validate” the franchise by calling them and asking them to tell you even more information.

My first thought when I read my first FDD was “wouldn’t it be nice if EVERYTHING had an FDD?” I mean, who wouldn’t want to be handed this kind of information by law? Not only that, once you get the FDD there is a mandatory waiting period before the franchisor can take your money, even if you’re ready to sign up on the spot. Wouldn’t THAT be nice when you’re being pressured into making a quick decision about a big purchase such as a car or a house?

Come to think of it, if you’ve ever bought a car or a house, have you remotely thought that you had complete information? Maybe you got a mechanic or a building inspector to look at them but wouldn’t it be great to have an FDD?

That’s something any business should keep in mind. While we might not want to make up a 250+ page document, we should strive to disclose as much important information as we can throughout the decision-making process to potential customers and partners. Not only does it make them feel more secure in their decision to sign up with you but it also prevents a lot of surprises down the road. Just because we’re not legally obligated to provide something that’s the equivalent of an FDD doesn’t mean we shouldn’t, don’t you think?

And if you’re ready to change your life and look at a new opportunity, click here and I’ll help you make that happen. With an FDD too!

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Filed under Consulting, Franchises, Thinking Aloud