The pandemic has shaken up markets and left fewer businesses in competition, which poses opportunities for entrepreneurs, writes Nichole Kelly of Windward Consulting. However, big moves require discomfort and risk but the reward is becoming an innovative market leader, Kelly writes.
It's easy to place the blame for subpar sales performance on salespeople, but poor management is usually also to blame, writes David Brock. A lack of coaching time, poor hiring practices and ineffective training are all examples of management problems that lead to underperforming sales teams.
Running a store devoted entirely to mushrooms, Avery Stempel, owner of Collar City Mushrooms, is growing and evolving his business. Stempel is focused on education and community outreach and is developing a comic book series and two card games to sell in the store.
In the early planning stages of a business, it's important to take steps for its long-term success, advises Renee Nesbitt, owner of Building Bosses Boutique. It's important to work on a business plan that details where you want to be, start building relationships with your bank and spread awareness of what you're doing.
For small-business owners who weren't able to secure the last round of Paycheck Protection Program funding, there are alternatives available, writes Greg Shepard, founding partner of BOSS Capital Partners. Consider seeking out options such as crowdfunding, SBA 7(a) loans and personal loans.
KFC Global's digital overhaul took on added importance when the COVID-19 pandemic emerged. Nitin Chaturvedi, digital and technology leader, discusses the company's strategy and the core focuses of diversification, scale and innovation.
PuroClean's emphasis on servant leadership and brand culture were among the factors that attracted franchisee Keegan Trudgen. "In the restoration and remediation industry, you are a community superhero," Trudgen notes.
Domino's is testing robotic pizza delivery in Houston with small vehicles made by autonomous driving company Nuro. Customers of one restaurant will be able to make prepaid online orders and use a unique code to unlock the storage compartment when a Nuro R2 arrives.
PIRTEK, a global hydraulic hose replacement franchise, is expanding into Canada. The company is looking to add at least one location in each province of Canada, which will be PIRTEK's 24th country.