Restructuring offers potential relief for franchisees in financial trouble, write Walter Popiel and Matthew Mason of Conway MacKenzie. To make this approach successful, operators must demonstrate credibility and offer a plan for long-term viability, they note.
California's governor has signed a bill that will generally classify workers as employees rather than independent contractors except in specific circumstances. The law will take effect Jan. 1, but IFA has said it will continue to seek an exemption.
Entrepreneurs have responded to issues created or highlighted when Hurricane Maria struck Puerto Rico two years ago. One example is Raincoat, an insurance company founded in the wake of the storm that focuses on instant claims processing.
Employee ownership has been crucial for Torch Technologies, a small business that has found success as a defense contractor, says co-founder Bill Roark. He credits the company's lofty employee engagement rate -- more than 90%, he says -- to the model.
Face down uncertainty by writing out your fears, considering your biases and preparing as best you can for any outcome, writes LaRae Quy. "Most of our really hard decisions come down to values and how we weigh the ones that are most important," Quy writes.
Facebook has announced that campaign budget optimization will be its only option starting this month for some advertisers, and in February for all of them. Charlie Lawrance, an advertising expert and the leader of Gecko Squared, explains how to prepare for the switch to CBO.
If you have a defensive employee who does not respond well to feedback or advice, make sure to be thoughtful and build trust, writes Maynard Webb, former COO of eBay. "It's always hard to see anyone go through tough times, but it's your responsibility to help see them through to the light," Webb writes.
Cheesy Eddie's has been a staple in Rochester, N.Y., for decades, and John and Colleen Baker purchased the business in 2003. The couple expanded to a second location in March, and John Baker is expecting a "tsunami" of business during the holiday season.
Build customer satisfaction -- and the bottom line -- by offering rewards for big spenders and using a customer relationship management system, experts advise. Also, focus on providing a unique experience and engaging with clients on a regular basis, they say.