https://clienttether.com

Keith Levenson from Client Tether talking about What Startups Need to Do Before Franchising

Franchising Capital and Support Requirements

Keith and Mary discuss the significant capital requirements and support systems needed to successfully franchise a business. Keith emphasizes that a minimum of $250,000 is required to start franchising, with more capital being better. He explains that substantial resources are needed to provide ongoing support to franchisees, such as real estate assistance, operational systems, and accounting guidance. Mary notes that even service-based franchises require detailed manuals and procedures. Keith stresses the importance of protecting the brand's intellectual property and highlights humility and openness to learning as key attributes for a successful franchisor during the challenging transition from operator to franchisor.

Franchising Discussion and Resource Sharing

In the meeting, Mary and Keith discussed franchising, with Keith sharing his experiences and insights. Keith expressed his enjoyment in talking about franchising and his hope for new and exciting brands to emerge.

Julie Lichtman from Freedom Professional Services talks about How Startups can work with a Virtual Assistant

contact Julie on her LinkedIn profile https://www.linkedin.com/in/julielichtman/

Virtual Assistants in Startups Discussion

In this meeting, Mary Scott from BusinessRiff and Julie Lichtman from Freedom Professional Services discussed the role of virtual assistants in startups. Julie explained that virtual assistants can handle administrative tasks such as calendaring, scheduling, email management, and customer service. She also highlighted the importance of asking potential virtual assistants about their skill set, availability, and rates. Mary emphasized the value of virtual assistants in maintaining contact with potential partners and customers, and the importance of not asking them to perform personal errands or handle hiring and firing. The discussion concluded with Julie noting that the number of hours a virtual assistant works for a company can vary from one to thirty hours per week.

Virtual Assistant Role in Startups Discussion

Mary Scott from Business Riff and Julie Lichtman from Freedom Professional Services discussed the role of a virtual assistant (VA) in startups. They highlighted the tasks a VA can handle, such as data entry, CRM management, email inbox management, and calendaring. They also emphasized the importance of finding a VA with the right skill set and ensuring they understand the company's mission and elevator pitch. Julie advised that a VA should be able to hit the ground running within 5 hours of training, and startups should consider hiring a VA if they feel overwhelmed by administrative tasks. The discussion concluded with Julie suggesting that startups meet with at least three potential VAs before making a decision.

https://danielpatrickandrews.com/

Daniel Andrews from Network In Action International talks about Networking & Strategic Partnerships for Startups

Daniel shared insights on building authentic professional relationships and strategic partnerships in business, emphasizing the importance of long-term connections and mutuality. The discussion covered effective networking strategies and the value of trust in referrals.

Building Authentic Professional Relationships

Daniel shared his personal experience of transitioning from casual networking to building authentic professional relationships. He emphasized the importance of understanding that most people encountered in networking are suspects rather than prospects. Daniel recounted his journey of becoming friends with a man named Bert, who acted as his wingman in making initial sales calls for profitable business propositions. He stressed the importance of building trust and borrowing the trust already built with others. Mary acknowledged Daniel's insights.

Strategic Partnerships and Networking in Business

Daniel and Mary discussed the importance of strategic partnerships and networking in business. Daniel emphasized the need for building long-term relationships with key referral partners, rather than just collecting business cards. He also highlighted the difference between reciprocity and mutuality in partnerships, with mutuality being a more sustainable approach. Mary agreed, noting that startups should prioritize creating and cultivating strategic partnerships for easier customer acquisition through referrals. They also discussed the importance of effective communication, trust-building, and concise content in business relationships. Daniel shared his successful method of holding regular referral pairings and the importance of trust when someone is referred by a trusted source.