Thursday 14 October 2010

Don't re-invent the wheel.

Unless you're a serial entrepreneur like Branson or Dyson, our advice to new clients is "Don't re-invent the wheel"

In effect this means unless you know different, do what everyone else in your line of business does, but a slight personal spin on it.

Take for example buying into a franchise like McDonalds or Virgin Vie. When you buy into a franchise you're buying into a proven business model that has been tried and tested over a number of years. You don't have to worry about building an image, decor of your premises, staff uniform, pay or conditions. You just do what you told to do and it's successful.

If you bought a franchise and tried any major changes, you'd probably have the franchise removed.

So what if you don't want a franchise?

The same thing applies. Don't re-invent the wheel. Find out what works and do the same thing. Join a local business club or association like the National Association of Business Owners and attend one of their seminars. They are offering 100 free places at the moment to qualifying businesses or join an on-line business club like Raw Business. Odd name but visit their site at Raw Business to find out more.

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