Franchise Brokers Association FBA -Industry BLOG

How to Give Productive Feedback

2012-05-15T18:55:54Z

Part of team development is done through giving feedback. If constructive criticism – and we mean constructive — is given, it can lead to a more confident group of employees who are excited to grow in your business. However, communicating the same messages in an ineffective way will have only negative consequences for you. So how can you give productive feedback that will inevitably yield a better work enviornment and increase chances of higher returns? Her are six ways to approach giving your employees feedback that works.

How to Give Productive Feedback

Dole out feedback immediately. Don’t wait until the event or action is long gone that you wanted to talk about, but instead appear sincere and quickly offer feedback that is helpful, creative and insightful.

Make it frequent. Don’t wait for annual or quarterly appraisals. Annual reviews are fine, but they shouldn’t be the only reviews. Instead make feedback a habit. If an employee has done something great, don’t wait until review time to say so. Say it now.

Offer detailed comments. Vague feedback isn’t effective at all. Details will allow for good behavior and actions to be repeated and unfavorable actions to be quickly avoided.

Be appropriate, of course. We want you to consider how you deliver feedback, and ask yourself if it is an appropriate way to communicate with whom you are communicating to. Keep the individual in mind. Some like e-mail, others like phone calls, some prefer texting, or instant messaging. Different generations have distinct preferences too.

Offer relevant points. Give feedback on what really matters to you, your business, and that employee’s performance. Feedback should focus on behavior that highlights individual’s ability to conduct business, not their weight, their new haircut or other irrelevant factors.

Be careful with comparisons. Comparisons are OK when you are comparing company to company or stating improvement versus previous work performance. However stay away from comparing employees with peers or direct reports or any one else inside the organization. This will only generate gossip and office politics.

Photos via inc.com

Using Storytelling With Your Candidates

2012-05-15T15:48:24Z

In this week’s Executive Directors forum we discussed the benefits of using storytelling when forming a relationship with your candidates. Storytelling is one of the most influential forms of communication. Stories have a major influence on how we think, dream, fear and hope. As a franchise broker, it is very important to form a bond with our candidates in order to ensure we maintain a long-term relationship. Storytelling allows us to make an emotional connection with our candidates that will build and reinforce our business relationship.

Why should you incorporate storytelling in your pitch to potential candidates? First of all, we need to keep our candidates engaged and stories contain interesting content that will capture the candidates full attention. Even more compelling, stories have a retention rate of 65-70% when the retention rate of facts and statistics is only 5-10%. In order for you to successfully sell the right franchise to your candidate they need to understand and retain the information you have provided to determine which franchise is the best option for their personal needs.

What is the value of incorporating storytelling into your sales process? Not only does it help build and reinforce your relationship with the candidate but storytelling can also influence their behavior. By telling a story about your previous experiences with a particular franchise you can enhance the candidates interest and persuade them to want to learn more. After all, our goal as franchise brokers is to engage the candidate so we can build their emotion and empower them to move forward with purchasing a franchise that best suits their needs.

Interested in learning more? Want to participate in next week’s EDF? Register for the presentation here.

Do you concentrate on an aspect of the process that we’re missing above? Let us know in the comments.

How to Shamelessly Promote Your Business with Tact

2012-05-11T19:52:46Z

If you are thinking of starting a business and becoming a franchisee, then you’ll need to do some self promotion. A recent article on Inc.com affirmed that business owners have to shamelessly self-promote, loud, strong and often. Still you have to know the difference between persistent and annoying. So Franchise Brokers Association is sharing three ways to self promote your business in a tasteful, tactful way.

How to Shamelessly Promote Your Business with Tact

Be interesting

Since this is your franchise and your business, it’s only natural that when you talk about it, you find it interesting. But make sure to express what you have to say about your business in an interesting, informative way so others will take interest. Find a way to connect their interests with what you are promoting — your franchise.

Be authentic

You’ve heard your parents and friends say this, and now you’ll hear it from us: be yourself. Let people get to know the real you. You are the most likable when you are yourself, and people will feel that you are being genuine.

Provide value

When you talk about your business, the person you’re talking to should have a take away. They’ll connect with you because you gave them something that will help them or leave them thinking. Share how your business would make some part of their lives easier or flow better.

Photo via flickr

This Week’s FBA Webinars

2012-05-11T20:26:15Z

Each week the FBA conducts webinars and trainings for our members and their clients.

Each Monday we have our Executive Director’s Forum, lead by the FBA’s Founder and Executive Director Sabrina Wall. This is an educational forum to give the members tools and resources for their business as well as give them an opportunity to discuss their challenges and get feedback.

Each month we conduct Sales, Legal, Industry and Client trainings, as well a Mastermind Session and two Empower Hours. This week we will host an Empower Hour with guest speaker Reg Byrd from Direct Connect Ventures. We will also conduct a Legal Training session with Franchise Attorney, Eric Riess. In addition, we have a Franchisee Training for our members’ clients with Terry Sullivan.

We also offer franchisor presentations for our brokers and at least once a week we offer a franchise training that our members’ clients can attend as well. This allows the franchisor to present their concept directly to clients and get them excited about the brand. Want to attend one of our webinars? Click on the “Register here” link below, and when asked for ‘Referring Broker Email Address’ just input FBA Blog Post.

Monday	Tuesday	Wednesday	Thursday

EDF FBA Members Only	Naturals 2 Go FBA Members Only	Empower Hour FBA Members Only	Legal Training FBA Members Only


Intelligent Office Public Welcome Register Here		Mr. Handyman FBA Members Only	Client Training FBA Members Only

3 Core Beliefs of Extraordinary Bosses

2012-05-08T21:08:35Z

Extraordinary bosses do extraordinary things. And according to a new article published by Inc.com, they all have many of the same core of extraordinary beliefs. They tend to think and believe that same thing. Franchise Brokers Association is sharing some of these thoughts, beliefs and values dubbed as the typical ordinary beliefs of the most extraordinary bosses.

3 Core Beliefs of Extraordinary Bosses

Business is an ecosystem, not a battlefield

Average bosses see business as a conflict, or battle, between companies, departments and groups.

Extraordinary bosses see business as a one functioning environment, with many different parts that need each other. They naturally create teams and form partnerships with other companies, to attract more customers and develop leverage.

Management is service, not control.

Average bosses want employees to do exactly what they’re told. They micromanage past the rudimentary stages of thier businesses. This type of behavior chokes out initiative, and fosters hesitation to come forward with great ideas.

Extraordinary bosses set a general direction, commit themselves to acquiring the resources to get it done, and get their employees to solve micro-decisions, intervening only in emergencies.

Motivation comes from vision, not from fear.

Average bosses see fear of the possible as a way to motivate people. Fear of getting let go. Fear of losing a privilege. As a result, employees and managers become unable to make risky decisions in fear of something negative happening.

Extraordinary bosses inspire people. They help their team see into a better future and how they’ll be a part of it.

Photo via businessweek.com

Franchise Brokers Association FBA -Industry BLOG

How to Give Productive Feedback

Using Storytelling With Your Candidates

How to Shamelessly Promote Your Business with Tact

Be interesting

Be authentic

Provide value

This Week’s FBA Webinars

Monday

Tuesday

Wednesday

Thursday

3 Core Beliefs of Extraordinary Bosses

Management is service, not control.

Motivation comes from vision, not from fear.