TBJA 313 Frantrapreneur vs Entrepreneur: How To Be Successful In The Franchise Industry, Melissa Woods

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What are the differences and similarities of Frantrapreneur vs Entrepreneur? How to be successful at both. Executive coach and business strategist, Melissa Woods share her success story and top tips.

Executive coach and business strategist Melissa Woods has been guiding the careers of business owners, executives, franchise business owners and  entrepreneurs for the past 15 years. 

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Ever since she can remember, Melissa Woods claims to have been “entrepreneurial”. Having started her first company in the late eighties, she went on to develop a successful franchise of a children’s gym called JW Tumbles, with over forty locations worldwide. She is the co-author of “Secrets of Franchise Success: The Formula for Becoming and Staying a Top Producing Franchisee”

Icebreaker

Ran away to Hawaii when 17 years old.

She was a teen and ran away to Hawaii. It made me realize I can do anything.

Think Like A Journalist Quote

“Optimism is the faith that leads to achievement. Nothing can be done without hope and confidence.” –Helen Keller

Success Quote

Build your own dreams or someone else will hire you to build theirs.

Career Highlight

Melissa and her then-partner came up with an idea to have a gym for kids. They experienced fast growth and major success. Hear how. 

When It Didn’t Work!

Melissa took on debt to open multiple locations but she didn’t have systems and processes in place. Find out when it didn’t work and what the company did to survive. 

Frantrapreneur vs Entrepreneur: How To Be Successful In The Franchise Industry

  1. What do “Frantrapreneurs” struggle with?  Same as entrepreneurs?  Business owners in general tend to struggle with management/leadership – what is different for frantraprenuers?
  2. Leadership Tips for the Frantrapreneur
  3. Know who to hire.
  4. Know your company values. Ask questions that get interviewees to talk about values.
  5. Why you should ask interviewees: “Do you consider yourself lucky?”
  6. Develop your employees – leadership is an obligation to develop good employees and great people
  7. Lead through transparency.
  8. Have a weekly accountability practice
  9. Inspect what you expect.

Your ticket to freedom is hiring, training, and developing business.

Employees work must give them purpose.

People need to have a connection to their work.

Avoid burnout. Learn to hire and train employees. @melissaHwoods

Teach employees how money comes in and goes out of your business. @melissaHwoods

Why you should close your business for one day a quarter. @melissaHwoods

Don’t micromanage but know what your team is doing. Setup processes for maximum success. @melissaHwoods

What is one piece of technology, video or multimedia equipment, or app that you just can’t live without?

Tape A Call app

One book, documentary, or Internet Channel to watch?

Click the link below to purchase.

It’s an Amazon affiliate link. It won’t cost you more but it will send me a few coins to keep on building our crazy good content here. 🙂

Peep, Chip Conolley

Contact

Secrets of Franchise Success

Twitter @melissaHwoods

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About The Author

Phoebe Chongchua

Phoebe Chongchua is a multimedia Brand Journalist, Brand Consultant & Marketing Strategist who is revolutionizing brand communication with consumers. She makes companies remarkable using brand journalism storytelling to grow their online presence, build a community, and gain greater market share. Phoebe is a former TV News journalist who helps brands gain a competitive advantage by learning to "Be the Media". Phoebe is the host of "The Brand Journalism Advantage" podcast and a "Top 50 Podcaster To Follow". Listen in iTunes or at ThinkLikeAJournalist.com

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