When I talk to aspiring business owners about their financial goals, many express a desire to replace their current income as quickly as possible. While this might seem like a reasonable objective, it doesn’t truly address the financial milestones necessary for building a successful business. Afte...

When I work with individuals who wish to explore franchising, one of the questions we explore is – ‘What advice would you give to a young person regarding how to live a fulfilling life’.  I have received many answers to this question over the decades, but Jon L’s response last month was tru...

Last month, I touched on one of the more complex aspects of the due diligence process – Item 19s and Building P&L’s. This week, I want to simplify things and focus on what is really at the core of due diligence. At its heart, due diligence doesn’t have to be complicated, it's actually pret...

About a month ago, my mother shared a book with me about a man who lived to be 109 years old. Over such a long life, he gained valuable insights, and the book is filled with meaningful lessons. One passage stood out to me—it explored fear and courage, aligning well with the first chapter of&hellip...

A few weeks ago, I was speaking with a new franchisee. He had been in business for around 6 months.  During our conversation, he shared some of the challenges he was facing as he tried to grow in his new role as an owner. His experiences reminded me of a previous life experience I had…...

This month, I'd like to talk a little bit about establishing a personal vision statement. Step One in The Franchise Playbook is all about defining your personal vision. When I work with individuals who are exploring business ownership, one of the first things we do is work on our personal vision. So...

As those of you who have read my book know, I really do enjoy sayings that neatly and cleanly summarize a thought or mindset. This month, I'd like to share one of my sayings with you: "The art of business ownership is the ability to make timely, confident decisions with incomplete information." Why ...

It's been a minute since my last newsletter. I've been super busy with graduations, family events, and a business that thankfully continues to grow and expand. This month I thought I would share a story.  Many years ago, back in college, I severely tore my ACL while playing soccer—an injury that...

Let's delve into the concept of ‘Capital’.  Not a county, state or national capital, but the type of capital we amass over a lifetime. Financial Capital When posed with the question, "Tell me about the capital you can bring to the business," many immediately think of ‘financial capital’. Mo...

Earlier this month, I had a coaching call with a franchised business owner whom I had worked with many years ago. We delved into the importance of maintaining a robust mental mindset, sparking a recollection of a story from the early days of my career as a franchise coach. Over two decades ago, at t...