chapter 1: your primary aim9 chapter 2: your primary … · what are the top four or five...

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CHAPTER 1: YOUR PRIMARY AIM..........................................................................9 What was your experience of discovering your Primary Aim?..........................9 Do you feel you uncovered it?...........................................................................9 What challenges/obstacles/questions did you face during this process? .........9 Did you have a hard time differentiating the Primary Aim from your business or the different roles you lead in your life? (parent, spouse, sibling, child, etc.)....9 How does the Primary Aim relate to owning a business? .................................9

CHAPTER 2: YOUR PRIMARY AIM DISCOVERY PROCESS...............................10 What part(s) of the discovery process did you find most interesting?.............10 Was it easier to identify the things you DO want or you DON’T want? ...........10 What are the top four or five priorities from your “Do Wants” that ended up on your list?..........................................................................................................10 What are the barriers to having what you want?.............................................10 Do you see how these priorities affect what type of business you want to own?........................................................................................................................10 Did you find the Eulogy exercise impactful? How? ........................................10 Were you able to write down your Primary Aim in a way you can easily read and reflect on it?..............................................................................................10

CHAPTER 3: BRINGING YOUR PRIMARY AIM TO LIFE ......................................11 What came up for you during this exercise? ...................................................11 Was writing down a list of personal objectives/goals difficult for you? ............11 Were you able to create both short term and long term goals in each category? ........................................................................................................11 Why does having a set of personal objectives help you determine what type of business to buy or start? .................................................................................11

CHAPTER 4: INTRODUCTION TO BUSINESS OWNERSHIP: THE ENTREPRENEURIAL MYTH ....................................................................................12

The Entrepreneurial Myth ...............................................................................12 What kind of technical skill or service did you want to provide when you first conceived the idea of owning your own business? .........................................12 Did you identify with the Entrepreneurial Myth and the fatal assumption?......12

The Three Personalities ..................................................................................12 Do you see yourself more comfortable in the perspective of a technician, a manager, or an entrepreneur? ........................................................................12 How do you think this can show up in a business or how has it shown up in your own experiences? ...................................................................................13 How might that impact what type of business you own or start? ....................13

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How does understanding the three perspectives impact your thoughts on owning a franchise? ........................................................................................13

CHAPTER 5: INTRODUCTION TO BUSINESS OWNERSHIP: THE FIVE CORE PRINCIPLES .............................................................................................................14

Which of the principles did you relate to or find most interesting? Why?.......14 Why are the Five Core Principles important to achieving business success and fulfillment as an owner? ..................................................................................14 How does understanding these principles help you think about owning a franchise?........................................................................................................14

The principle of LIFE .......................................................................................14 What are your lifestyle goals? .........................................................................14 Would a franchise business support your lifestyle goals the best?.................15

The principle of LEADERSHIP........................................................................15 Can you see yourself leading a business?......................................................15 Defining Leadership through the components of Vision, Action and Spirit, which component do you feel is the most critical component that needs to be developed before you make the decision to start/buy a business? Why? ......15 Do you get excited in thinking about your vision and what you want to lead? 15 Could buying a franchise business support your vision? ................................15

The principle of WORKING ON IT, NOT IN IT. ...............................................15 Have you thought about the difference between working IN a business and working ON a business before? ......................................................................15 If you start a business as a true entrepreneur, how would you think differently?........................................................................................................................15 Using the concept of Working ON It, what are the benefits of a franchise business? ........................................................................................................16 Did you use the Time Log Worksheet to assess how you’re spending your time? ...............................................................................................................16 What did you discover?...................................................................................16 What is the purpose of the Results Listing Worksheet? Can you see using this tool in the future as a business owner?...........................................................16

Time Management ...........................................................................................16 What did you notice about the approach to time management presented in AIM?................................................................................................................16 How will you use these worksheets to improve your effectiveness as a leader and manager? .................................................................................................16

The principle of SYSTEMIZATION..................................................................17 Would you agree that most small businesses tend to be people-dependent? 17 Why can that create problems for an owner and the business? .....................17 What’s the solution to this issue?....................................................................17 How does it support buying a franchise? ........................................................17

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The principle of BUSINESS DEVELOPMENT ................................................17 Did you think of the term “business development” differently before going through AIM?...................................................................................................17 Now, why do you think ongoing business development is important? ............17 How is this supported by buying a franchise?.................................................17

System Action Plans .......................................................................................18 Why should you document business systems? ..............................................18 Is this something that you would look or expect in a franchise business? ......18 Was learning about the Action Plan Template helpful? ..................................18

CHAPTER 6: THE SEVEN CENTERS OF MANAGEMENT ATTENTION: MARKETING, MONEY and MANGEMENT..............................................................19

THE SEVEN CENTERS OF MANAGEMENT ATTENTION MODEL ...............19 How do you see using the Seven Centers of Management Attention in the future? .............................................................................................................19 How can you use this model to evaluate a franchise business? (Or start a new business?).......................................................................................................19 How could you use the Seven Centers model in developing and managing a business? ........................................................................................................19 How could you use the Seven Centers business model to evaluate a franchise business opportunity? .....................................................................................19

MARKETING.....................................................................................................20 Before taking this program, what would you have said is the role of marketing in a business? .................................................................................................20 What do you see as the benefits of a franchise after going through the marketing chapter? .........................................................................................20 Which of the marketing processes did you find most interesting and helpful?20 How can you evaluate a franchise business using the marketing information presented in AIM? ...........................................................................................20 Do you believe you could benefit from learning more about marketing? ........20

MONEY..............................................................................................................21 Do you worry about money? In what way? ....................................................21 What do you believe are the benefits of owning a franchise when it comes to financial management? ...................................................................................21 Do you have good understanding of financials systems and the reports needed to manage a successful business? ....................................................21

MANAGEMENT.................................................................................................21 After going through AIM, what do you think about the E-Myth approach to management? .................................................................................................21 Looking at the concept of management through the E-Myth perspective, what would be the benefit of buying a franchise business?.....................................22 Do you think the franchisor should offer an organizational chart? What purpose does it serve?....................................................................................22

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What did you think about creating “Position Agreements” (versus job descriptions)?..................................................................................................22 Should you expect a franchisor to provide an organizational strategy and position agreements?......................................................................................22 Do you think you could benefit from more management training?..................22

CHAPTER 7: THE SEVEN CENTERS OF MANAGEMENT ATTENTION: CLIENT FULFILLMENT, LEAD CONVERSION and LEAD GENERATION ..........................23

CLIENT FULFILLMENT....................................................................................23 Why is the client fulfillment center the “heart of a business?” .........................23 How does owning a franchise business support this key idea of the “promise.”........................................................................................................................23 What are the main client fulfillment systems that you want to analyze when looking at a franchise opportunity? .................................................................23 Are there other benefits to owning a franchise when it comes to client fulfillment? .......................................................................................................23

LEAD CONVERSION........................................................................................23 After going through AIM, did you find yourself thinking differently about “sales?” ...........................................................................................................23 What will you want to look for from a franchisor in this area? .........................24 A great question to ask a franchisor is…”Do you get consistent results with your current sales process?”...........................................................................24

LEAD GENERATION........................................................................................24 After going through AIM, what’s the most important aspect to lead generation (advertising)? ..................................................................................................24 What are the benefits of purchasing a franchise when it comes to lead generation? .....................................................................................................24 After going through AIM, do you see the importance of aligning all of the processes from these three centers?..............................................................24

CHAPTER 8: SYSTEM STRATEGY AND INTRODUCTION TO BUSINESS OWNERSHIP OPTIONS............................................................................................25

SYSTEM STRATEGY .......................................................................................25 What can a franchise business offer to support the ideas AIM presents on business systemization? .................................................................................25 What is the best approach to evaluate business systems? ............................25

Business Ownership Options.........................................................................26 What option are you most interested in after going through AIM?..................26 Do you have more than one type of business that you are considering? .......26 If you still are unsure, what would help you gain more clarity? .......................26

CHAPTER 9: YOUR STRATEGIC OBJECTIVE......................................................27 Did you create a Strategic Objective?.............................................................27

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How was this process for you? .......................................................................27 How can your vision be served by buying a franchise business? ...................27 What assurance would it give you to create a document such as this before opening your franchise?..................................................................................27 Some franchises create these types of documents for their franchisees. Would buying a franchise that has that type of support be important to you?............27

Next Steps ........................................................................................................28 How has the AIM program helped assist you in your decision to make a franchise purchase?........................................................................................28 How would continuing your entrepreneurial education in the FAST program help assist you further in making your decision? ............................................28 Do you feel that you understand the advantages and disadvantages of choosing a franchise business (established or new) and are ready to move forward? ..........................................................................................................28

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The Entrepreneur’s Source Coach AIM Program Engagement Tips

This outline may be integrated into your existing process to help you effectively discuss the AIM program and help gauge its impact on the Seeker’s Journey of Discovery.

Prepare for Client Meeting

Review Benefits to Seeker Review Program Worksheets Review Engagement Guide

Seeker’s Benefits • Inspiration to become an entrepreneurial business owner

• Knowledge to help determine what kind of business they want to invest in

• Confirmation that the franchise business model is an excellent option for owning a small business

• Articulate their Primary Aim (life purpose) and ILWE

• View the business as a vehicle for achieving personal objectives

• Understand the advantage of running a systems-based business

• Develop their Strategic Objective (business vision) to clarify and focus on business goals

Pre-Requisites

• Working with a FranchisEsource Coach.

• Interest in investing or recent investment in a franchise

Workshop Length of Time

• 220 minutes with some additional time to complete worksheets and view recorded sessions

Program Worksheets Primary Aim Time Log Results Listing Action Plan Template Strategic Objective

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Client Engagement Guide for AIM These questions are designed to help you assess the Seeker’s attitudes and mindset after completing the AIM Program and effectively coach the Seeker through the decision-making process of becoming a business owner.

AIM Program Review Purpose: Assess the overall impact of the AIM program. Result: Understand the overall value of using AIM in a Seeker’s outlook and how it impacts their decision about buying a franchise business. Exploratory Questions: How has AIM helped you in thinking about owning your own business?

What are some things you’ve learned as a result of taking the AIM course? What new benefits do you now see to owning a franchise business? What new perspective/enthusiasm do you have at this point for owning a franchise business?

How will you use AIM more in your decision-making process?

Indicators of Understanding:

(Personal Response)

Learning about the common mistakes made by many small business owners and how to avoid those, should help build confidence.

Going through the AIM program should make it clear that there are many benefits of buying a franchise business over starting a scratch business.

To jumpstart success, franchises can offer more immediate brand recognition and appeal for the consumer, especially if the franchise is a national or regional brand with existing marketplace positioning.

Franchises also offer systemization of essentials centers like client fulfillment, along with marketing assistance and management structures already tested and in place.

(Personal Response)

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CHAPTER 1: YOUR PRIMARY AIM

Purpose: To provide a process for clients to discover their true passion and life’s purpose.

Result: Discovery of their Primary Aim which will enhance their life by aligning their innermost experience fulfillment.

Exploratory Questions:

What was your experience of discovering your Primary Aim?

Do you feel you uncovered it?

What challenges/obstacles/questions did you face during this process?

Did you have a hard time differentiating the Primary Aim from your business or the different roles you lead in your life? (parent, spouse, sibling, child, etc.)

How does the Primary Aim relate to owning a business?

Indicators of Understanding: (Personal Response)

Many people find looking at their Primary Aim as both a fascinating and potentially scary exercise.

These reactions are expected because many people have varying degrees of experience or comfort in doing this type of self exploration.

Remember, your Primary Aim is already inside you. The process of taking time to examine this area of yourself can provide clarity for future goals and provide a sense of alignment to the various part of your life.

If yes…great. How does it feel to read it?

If no…

Don’t worry. The Primary Aim process can take some time. It is important to remember that it is not focused on business, but rather on you. The most important thing is to make a commitment to keep looking for your Primary Aim after the course.

Your Primary Aim is the essence of who you are in life. It is not focused on a specific role (business owner, parent, spouse, etc.) you play in your life. Your Primary Aim is unique to you and influences all of those roles but does not encompass the roles .

Knowing who you are and what you’re passionate about can lead to finding the greater purpose or intention for your life. That purpose can be supported by choosing the right business to own.

Knowing what you want and don’t want and how you want to spend your time is essential for choosing the right business opportunity.

Also, the Primary Aim is most evident in your leadership. It anchors your energy and your intention. It makes you a more solid leader.

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CHAPTER 2: YOUR PRIMARY AIM DISCOVERY PROCESS

Purpose: This process helps clients realize their Primary Aim and express it in a way which is personally inspiring to them.

Result: To clarify and write their own Primary Aim.


What part(s) of the discovery process did you find most interesting?

Was it easier to identify the things you DO want or you DON’T want?

What are the top four or five priorities from your “Do Wants” that ended up on your list?

What are the barriers to having what you want?

Do you see how these priorities affect what type of business you want to own?

Did you find the Eulogy exercise impactful? How?

Were you able to write down your Primary Aim in a way you can easily read and reflect on it?


Listen for… “Do Wants” or “Don’t Wants” listings Priorities and barriers to achievement The Eulogy

These lists are intended to help you clear out the various ideas of the things that matter most.

(Personal Response)

Time? Money? These are the most common.

For example, if you want to have more time to devote to personal goals, family or interests, you may find that a franchise business will support this more than starting a scratch business.

Most of us do not want to think about our mortality. Yet, asking yourself what impact you want to have and what legacy you want to leave is a powerful exercise. Most often, what is really important to us appears in the writing of the Eulogy.

Again, part of the power of writing down the Primary Aim statement, is the ability to see it in words reflected back to you. When you read it, if you feel a surge of energy and excitement, then you’ve hit on it!

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CHAPTER 3: BRINGING YOUR PRIMARY AIM TO LIFE Purpose: To encourage clients to define and document personal objectives that are in alignment with their Primary Aim. Result: A list of specific, tangible goals to monitor and track which provide a way to determine if the business will support their life.


What came up for you during this exercise?

Was writing down a list of personal objectives/goals difficult for you?

Were you able to create both short term and long term goals in each category?

Why does having a set of personal objectives help you determine what type of business to buy or start?


If no….wonderful.

If yes….why? Listen for… I’ll remember them, I don’t need to write it down. I just have not taken the time

Writing down your personal objectives with a specific timeframe, will help you track your accomplishments. If you just keep them in your head, you may forget, or more likely, change your mind because you’re not sure you really want it or are convinced it is not possible to achieve them. Writing goals down is equally as powerful as setting them. People who have done this report that they end up achieving more than 50% of their goals.

It is important to have both, not just long term. That helps you start off by considering how to have your personal goals in alignment with your business vision.

What do we “work” for? Why do you want to buy a franchise or start a business? Most people want to start a business in order to “get more life.” That means more time…to do what? More money….to do what? More freedom…to do what?

Your personal objectives help you answer those important questions and give you a way to distinguish what type of business you want to own; which type will serve your life best.

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CHAPTER 4: INTRODUCTION TO BUSINESS OWNERSHIP: THE ENTREPRENEURIAL MYTH

The Entrepreneurial Myth Purpose: To understand the “E-Myth” and the three working perspectives provides clarity to the client on the realistic challenges – and opportunities – of business ownership. Result: Understanding of the “E-Myth” creates a new perspective that inspires and empowers people to change how they think about their business. Clients understand the business must serve their life.


What kind of technical skill or service did you want to provide when you first conceived the idea of owning your own business?

Did you identify with the Entrepreneurial Myth and the fatal assumption?

Suggested Responses: (Personal Response)

Many small business owners identify with the Entrepreneurial Myth because they started by being an expert “technician” who was working for someone else and then decided to leave and go open up their own business doing that technical work.

Many people just “bought themselves a job” or became self employed.

They now know that that is not the same thing as having a true “business.”

The Three Personalities Purpose: Explains how people think about starting a business, their perspective, and how this thinking impacts future success.

Results: If you know a client’s dominant personality (comfort zone), you can influence their decision-making process and evaluate what type of business is best for them.


Do you see yourself more comfortable in the perspective of a technician, a manager, or an entrepreneur?


The technician is the doer; producing the daily results (delivers the product or service) inside the business. The manager is the organizer; creating the systems and processes by which the business delivers its product or service. The entrepreneur is the dreamer; creating the vision for the future. They focus on the

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How do you think this can show up in a business or how has it shown up in your own experiences?

How might that impact what type of business you own or start?

How does understanding the three perspectives impact your thoughts on owning a franchise?

expansion and creating value (owner’s equity).

For example, a “technician owner” ends up creating a business that is dependent upon them because they start and continue to do all of the hands-on work of the business.

Depending upon how you think about it -- which dominant perspective you hold -- will determine the actions you take and the results you get.

(Personal Response)

Owning a franchise is the most entrepreneurial thing you can do. You can insure you will get the greatest return on your investment by using the managerial perspective to optimize the proven franchise model. Getting yourself stuck in doing all the technical work of the business will limit your return so you need to balance the three carefully.

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CHAPTER 5: INTRODUCTION TO BUSINESS OWNERSHIP: THE FIVE CORE PRINCIPLES Purpose: Assess the client’s understanding and impact of learning about the Five Core Principles of the Entrepreneurial Mindset.

Result: If a client understands and embraces these principles (has an entrepreneurial mindset) they will be better able to evaluate business ownership more productively. They will undoubtedly see the benefits of a franchise model.


Which of the principles did you relate to or find most interesting? Why?

Why are the Five Core Principles important to achieving business success and fulfillment as an owner?

How does understanding these principles help you think about owning a franchise?


1) Life 2) Leadership 3) Working On it, Not In it 4) Systemization 5) Business Development

Embracing these principles will shift the mindset of a “technician business owner” to the mindset of an entrepreneur.

They remind and guide you to think differently about how to build a business that works and how they lead it more effectively.

“How you think about business is how you end up doing business” is a core part of the E-Myth solution.

You could evaluate any franchise ownership opportunity using the five core principles.

A good franchise business model will have incorporated all of them into their offering.

The principle of LIFE Exploratory Questions:

What are your lifestyle goals?

Indicators of Understanding: Did you want more time…more money… more freedom? A business should be a vehicle for more life. It should:

Enable the owner to take vacations, pursue hobbies and spend time with family and friends.

Provide the financial rewards the owner is looking for.

Support choices for the owner’s future.

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Would a franchise business support your lifestyle goals the best?

A franchise business can offer significant benefits over a start up, especially if one has never had their own business before.

The principle of LEADERSHIP Exploratory Questions:

Can you see yourself leading a business?

Defining Leadership through the components of Vision, Action and Spirit, which component do you feel is the most critical component that needs to be developed before you make the decision to start/buy a business? Why?

Do you get excited in thinking about your vision and what you want to lead?

Could buying a franchise business support your vision?


Vision, Action, or Spirit

(Personal Response)

It’s important to remember that great leadership integrates a clear vision, actions which bring about a desired result, and a sense of commitment, dedication and inspirational communication for all to share in the vision of the company and understand how their work contributes to the vision and success of the business. This is the true work of an entrepreneurial leader and business owner.

As a leader, you must have a clear vision (a picture painted clearly in your mind) of what you want to create and lead.

A vision has been created by the franchisor. A potential franchisee must be able to evaluate that business opportunity and find alignment with their personal vision. Otherwise, there will not be a good fit. Use this as a guide through your Journey to Discovery and choosing the best franchise to fit your goals.

The principle of WORKING ON IT, NOT IN IT. Exploratory Questions:

Have you thought about the difference between working IN a business and working ON a business before?

If you start a business as a true entrepreneur, how would you think differently?

Indicators of Understanding: The entrepreneur sees the business as the product -- they go to work ON the business, not in it.

A smart approach is to start by having an “exit strategy.” This principle keeps you focused on the end game so you create a business that has value -- something you expand and then sell to others or pass on to a family member.

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Using the concept of Working ON It, what are the benefits of a franchise business?

Did you use the Time Log Worksheet to assess how you’re spending your time?

What did you discover?

What is the purpose of the Results Listing Worksheet? Can you see using this tool in the future as a business owner?

Working ON it, means doing the strategic work – creating a “turn-key operation” – that delivers a consistent, experience for customers and a verifiable result (profitability).

The benefit of a franchise business is the system and process of working ON it has already been established and you can capitalize on this opportunity. This is the principle that every franchisor had to follow in order to create a franchise opportunity for others.

Listen for…

I do mostly “tactical work.”

That I am not very good at delegation.

I jump around from task to task, which is not productive.

This tool is helpful as the business grows and you need to reassess your responsibilities. As you take on more management work, you may need to delegate more of the technical duties.

Time Management Purpose: To present a new view of time management. Using the time management worksheets, they can assess how they spend their time.

Result: Understand the difference between strategic and tactical work and the importance of developing a personal time management system that is highly productive and supports getting consistent results.


What did you notice about the approach to time management presented in AIM?

How will you use these worksheets to improve your effectiveness as a leader and manager?

Indicators of Understanding: That is focuses on the “type” of work first: Strategic (working ON it) and Tactical (working IN it).

As a business grows and develops, the owner must focus more on doing strategic work.

If you want to own an enterprise (multiple locations or franchise businesses) then you must think carefully about how you manage your time and what type of work you do to get that result.

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How could the time management information help in evaluating a franchise business?

You can use this approach to time management to further understand the type of work required by an owner (and a manager) of various franchise systems.

The principle of SYSTEMIZATION Exploratory Questions:

Would you agree that most small businesses tend to be people-dependent?

Why can that create problems for an owner and the business?

What’s the solution to this issue?

How does it support buying a franchise?

Indicators of Understanding: In order to grow and expand a business successfully, it can not be people-dependent.

The only way to get a consistent customer experience is to build the system to deliver that experience and train the people on how to run the system.

If you create or purchase a people-dependent business, it will be difficult to grow and expand. There will also be ongoing (and costly) concerns with training and turnover.

E-Myth suggests that ALL business owners use the idea of the “franchise prototype” as their business model (whether or not they ever want to franchise.)

This is the central idea behind all franchise businesses. To understand the true value of a franchise, looking at the level of systemization built into the business is essential.

The principle of BUSINESS DEVELOPMENT Exploratory Questions:

Did you think of the term “business development” differently before going through AIM?

Now, why do you think ongoing business development is important?

How is this supported by buying a franchise?

Indicators of Understanding: Many people think business development is similar to sales and equate it to growing. This happens because the term is often used by sales departments

To stay competitive in the marketplace, a business must continuously innovate.

With a franchise business, this is the main role of the franchisor. In order to protect and grow the brand (and stay competitive), it is essential they have a process in place to innovate.

The franchise system is then updated (orchestration) to support the innovations.

Finally, the process of measuring results (quantification) is essential to understanding the system – what working and what’s not.

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This entire system operates at the franchisor level, but must be implemented by the franchisee.

System Action Plans Purpose: To show an effective way to document systems using E-Myth’s Action Plan template. Result: Provide a tool and approach to system documentation that can be used inside any business.


Why should you document business systems?

Is this something that you would look or expect in a franchise business?

Was learning about the Action Plan Template helpful?

Indicators of Understanding: Because if it is not written down, it doesn’t exist.

The true value of having procedures written down is to be able to show someone (or see for yourself) how the business gets consistent results.

It’s also an integral part in becoming systems-dependent, not people-dependent. When you go to train new employees or open up a new location, you have the work processes documented and ready to teach to others.

Having a way (a process and a tool) to document the systems is essential. It makes it possible for all managers and employees to participate and to maintain its operations manuals.

Yes. A franchisor would provide an “operations manual” with the main operation systems documented.

Having a template (which is both a process and a tool) to document the systems is essential. The degree of documentation in various businesses is different.

If you purchase a franchise system, you may still find that your personal management style would like to have more of the actual systems documented. Having the Action Plan tool makes it possible for you to delegate some of this work to other managers and employees.

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CHAPTER 6: THE SEVEN CENTERS OF MANAGEMENT ATTENTION: MARKETING, MONEY and MANGEMENT Purpose: To provide a holistic business model and strategic management tool that supports universal principles for how to evaluate, manage and develop any business.

Result: Build confidence and knowledge about using this model to understand any business and be able to effectively guide its management and development.

Remember to refer back the Business Assessment results

Exploratory Questions: THE SEVEN CENTERS OF MANAGEMENT ATTENTION MODEL:

How do you see using the Seven Centers of Management Attention in the future?

How can you use this model to evaluate a franchise business? (Or start a new business?)

How could you use the Seven Centers model in developing and managing a business?

How could you use the Seven Centers business model to evaluate a franchise business opportunity?

Indicators of Understanding:

The business model shows you how to view a business holistically as one system made up of seven sub-systems.

It shows the dependency and connection of all centers – the functions, strategy and systemization -- on the whole. This model is used when developing a franchise prototype because it provides a roadmap for systemization and ongoing management. In order to replicate the business in various locations, it has to have a core system, supported by the seven sub-systems. It provides a roadmap and organizing system for how to start developing a business. It is used to align the functions by defining the strategy and creating the systems so that they are supportive of the entire business – knowing together all of the systems in each center make up the whole or the turn-key operation. You can use this model (and the deeper knowledge of it contained in FAST) to evaluate any franchise business system by looking at the franchise operations center by center.

It will provide insights to discuss with the franchisor and better understand the franchise operations design and strategies.

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MARKETING:

Before taking this program, what would you have said is the role of marketing in a business?

What do you see as the benefits of a franchise after going through the marketing chapter?

Which of the marketing processes did you find most interesting and helpful?

How can you evaluate a franchise business using the marketing information presented in AIM?

Do you believe you could benefit from learning more about marketing?

(Personal Response)

Many people – even those who have been in business for years – confuse marketing with advertising. They talk about their “marketing programs” but really mean their advertising programs.

Most franchisors have done this type of customer analysis and tested their marketing strategy. They also engage in ongoing research and development to support their franchisees.

A Product Market Grid? (Allows you to analyze products and customer markets to determine the right fit and growth strategy.)

The Central Demographic model (CDM)? (Creates a picture of your target customer(s) and to evaluate the product potential of your area.)

Psychographic Information? (Tells you why people buy – their perceptions, motivations and behaviors.)

The Purchase Decision-Making Chain? (Helps you understand how a customer makes up their mind about buying a product and what influences them the most.)

You can ask a franchisor about their marketing strategy, brand positioning strategy and customer analysis. Knowing how to apply this information to analyze a local market will help you determine what type of business will be successful.

YES. This is critical if you want to pick the right business for a particular marketplace.

FAST has an extensive module on Marketing. It teaches you all about marketing, plus you analyze your customers and target markets, develop a positioning strategy, look at branding, and create marketing systems for our business.

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MONEY:

Do you worry about money? In what way?

What do you believe are the benefits of owning a franchise when it comes to financial management?

Do you have good understanding of financials systems and the reports needed to manage a successful business?

MANAGEMENT:

After going through AIM, what do you think about the E-Myth approach to management?

Money is always on the mind of every business owner, but for some, the concern is that they do not understand their financial picture clearly. They find money complicated or confusing.

For others, they are worried because they do understand how to read their financial statements and the numbers don’t lie. Their business performance is not where they want it to be.

Being part of a franchise provides basic financial systems. You also will be able to do financial benchmarking and discuss management strategies with the franchisor and with other franchisees.

What may be missing from the franchisor is various financial reporting systems that every franchisee needs to run their business.

Developing a financial system that provides you with accurate and timely information is critical to your ability to manage your business and make good decisions.

(Personal Response)

The Money module of FAST is a comprehensive program that will provide you with a complete financial education for running a business. It will enable you to understand and build a solid financial management system.

(Personal Response)

Traditionally, management theory and education has been focused solely on people. It’s important to not take this approach or you will create a people-dependent business and that will limit your future growth and expansion options.

The E-Myth approach to management is to first develop a system strategy and then a people strategy.

You develop the systems for how you want the work done first. Then you look at how to organize the work effectively and create positions for people to fulfill the intended result

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Looking at the concept of management through the E-Myth perspective, what would be the benefit of buying a franchise business?

Do you think the franchisor should offer an organizational chart? What purpose does it serve?

What did you think about creating “Position Agreements” (versus job descriptions)?

Should you expect a franchisor to provide an organizational strategy and position agreements?

Do you think you could benefit from more management training?

(work).

The idea of the “franchise prototype” is having a business that is systems dependent, not people dependent. People are important, but the true value is that the franchisor has developed the best way (the system) to deliver the product or service consistently, not relying solely on people.

The organizational chart is the best way to show the results and accountabilities of each position and the overall structure of the business.

Position Agreements are much more effective than job descriptions because they tie each individual to the overall company goals and vision of the Strategic Objective by writing a “results statement” versus a “job objective.”

Yes. They have already developed an organizational strategy and decided what positions are needed to deliver the product or service. Most franchisors will have created “job descriptions.” However, you may want to discuss the benefits of developing position agreements and having results statements.

The center of Management is critical to the success of your business. FAST shows you how to develop a system and organizational strategy, create position agreements and build a hiring system and more. We can look into management in more detail through the FAST program.

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CHAPTER 7: THE SEVEN CENTERS OF MANAGEMENT ATTENTION: CLIENT FULFILLMENT, LEAD CONVERSION and LEAD GENERATION

Purpose: To provide a holistic business model and strategic management tool that supports universal principles for how to evaluate, manage and develop any business.

Result: Build confidence and knowledge about using this model to understand any business and be able to effectively guide its management and development.

Remember to refer back the Business Assessment results

Exploratory Questions: CLIENT FULFILLMENT:

Why is the client fulfillment center the “heart of a business?”

How does owning a franchise business support this key idea of the “promise.”

What are the main client fulfillment systems that you want to analyze when looking at a franchise opportunity?

Are there other benefits to owning a franchise when it comes to client fulfillment?

LEAD CONVERSION:

After going through AIM, did you find yourself thinking differently about “sales?”

Suggested Responses:

This is where your customers interact directly with your business – where they receive the product or service.

What is their experience? Can you describe your customer promise?

The franchisor has done the work of figuring out what customers truly want, created a “promise” and designed a client fulfillment system to deliver on those expectations. The production, delivery and service systems.

After they open, many independent small businesses stop analyzing their products and services looking for any gaps in what they offer and what their customers want.

You must keep asking “how can we make our product or service of greater value to our customers?” Then if you have created good fulfillment systems, it is a matter of looking at the feasibility of innovating.

This is an area of a business you can not leave to chance. FAST will also show you how to also analyze the Quality Management System.

In every business, so much emphasis is places on “making sales.” This attitude often makes the customer invisible and their needs are forgotten in trying “make a sale.”

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What will you want to look for from a franchisor in this area?

A great question to ask a franchisor is…”Do you get consistent results with your current sales process?”

LEAD GENERATION:

After going through AIM, what’s the most important aspect to lead generation (advertising)?

What are the benefits of purchasing a franchise when it comes to lead generation?

After going through AIM, do you see the importance of aligning all of the processes from these three centers?

A solid marketing strategy and effective lead generation systems (i.e., advertising messages). The quality of those systems will determine the success and ease of converting prospects to customers (making sales).

If the answer is “most of the time” or “it depends on the location,” then you will want to investigate this part of the franchise system.

FAST will show you how to conduct that analysis. It will show you how to create and implement a Lead Conversion process that that builds on understanding customer perceptions and needs (what you learned in Marketing) and how they make purchase decisions.

That you develop, test and track both the lead generation “messages” as well as the appropriate “channels.”

If you fail to measure both, you may be wasting a lot of money and attracting the wrong people to your business (which is why sales can be so difficult).

The franchisor should have a proven Lead Generation system, supported by tested channel strategies and advertising concepts that attract qualified prospects to the business effectively and efficiently.

If you can get a consumer’s attention (lead generation), then you convert them easily into a customer (lead conversion), then you must fulfill their needs with your product or service better than the competition. This will create customers for life (client fulfillment).

It’s good to note that if a franchise is having problems with lead generation, they need to go back to the marketing center to understand the needs of the target market.

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CHAPTER 8: SYSTEM STRATEGY AND INTRODUCTION TO BUSINESS OWNERSHIP OPTIONS

SYSTEM STRATEGY Purpose: To understand why it is important to develop a systems strategy and how to go about designing one for the business.

Result: A set of system diagrams for every center of the business, using the Seven Centers of Management Attention as your roadmap.


What can a franchise business offer to support the ideas AIM presents on business systemization?

What is the best approach to evaluate business systems?

Suggested Response The value of a good franchise system is:

It will be able to deliver a consistent experience to customers and that is the value of the brand and builds loyalty.

It will not be dependent upon people, but the systems of the business, therefore reducing some of the common management issues found with other types of businesses.

It provides freedom to the owner by providing the opportunity to choose how much they want to be involved in the business day to day.

It reduces the amount of “people problems” because the key processes are written down in operations manuals for future training or reference.

It may be more valuable than most independent businesses if and when the owner wants to sell it.

Use the Seven Centers of Management Attention. It provides a framework for you to go through the core functional areas of the business and write down the main systems and related sub-systems.

FAST takes you through this process more comprehensively center by center. It is the best business development system to guide you in creating or evaluating a franchise business model.

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Business Ownership Options Purpose: To introduce the client to the four options and the many individual opportunities that exist in today’s marketplace if they want to open their own a business.

Result: A clear understanding of the different types of business opportunities and the advantages and disadvantages of each. After this section a Seeker should have enough information to make an educated and informed decision.


What option are you most interested in after going through AIM?

Do you have more than one type of business that you are considering?

If you still are unsure, what would help you gain more clarity?


Starting a new business

Buying an existing business

Buy a new franchise

Buy an existing franchise

If yes….you may want to take the program – FAST. It will provide more in-depth education about business ownership and development.

If you did not finish your Primary Aim and Personal Objectives, I recommend you go back and spend some time there.

If you know what’s most important to you, what you want your life to look like and how you want to spend your time, you will begin to understand how certain options either support you or set you up for failure and disappointment.

Also, review the Business Assessment and look at how you scored in the various areas.

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CHAPTER 9: YOUR STRATEGIC OBJECTIVE Purpose: To clearly articulate the client’s vision for the future (Strategic Objective) and how their business is going to support their life. Their Strategic Objective provides purpose, motivation and a sense of direction to all employees within the business. Result: A one to two page narrative that describes what the business will be when the vision is fully realized. It has key elements such as: line of products or services, company growth and size, markets served and other unique brand characteristics.


Did you create a Strategic Objective?

How was this process for you?

How can your vision be served by buying a franchise business?

What assurance would it give you to create a document such as this before opening your franchise?

Some franchises create these types of documents for their franchisees. Would buying a franchise that has that type of support be important to you?


Being an entrepreneur does not always mean starting something from scratch. Many entrepreneurs recognize a need for a product or service in a specific market.

Having a vision for a franchise business in a local marketplace is important. It needs to tie to the greater vision of the franchisor.

Without a Strategic Objective for the franchise, how can you know whether or not this is what you want to invest in and lead?

To evaluate if the vision of the franchisor is clear and provides a roadmap for you, the owner, to lead from. Every marketplace can offer unique opportunities for growth.

Knowing the franchisor has a clear vision for the franchise development and franchisee support should be the number one consideration.

Having a clear vision provides direction and meaning for everyone working in the business.

Seeing how it will grow and develop (having a clear roadmap or plan) should provide more confidence and help in future success.

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Next Steps Purpose: Provides the coach with clear indicators at what stage the client is in with regard to buying a franchise. To determine what is needed by a client and how further education using the FAST program can help them make a decision. Result: The client should have a good sense of what they need to move forward, either in making a decision or needing more assistance in developing their confidence.


How has the AIM program helped assist you in your decision to make a franchise purchase?

How would continuing your entrepreneurial education in the FAST program help assist you further in making your decision?

Do you feel that you understand the advantages and disadvantages of choosing a franchise business (established or new) and are ready to move forward?


Continuing with the FAST program will provide you with a best education and knowledge to evaluate becoming a business owner (either buying a franchise or starting a scratch business). If you’ve never owned or purchased a business before, then it is recommended you complete the FAST program. It will provide the education you need and make you confident as a future business owner. You should review the tables in the AIM program again. Then, we can discuss the best options available to you.

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