Big Data

Thrive in the New Normal with Lessons from the Past

As most small business and franchise owners emerge from quarantine, multiple questions hang in the air. What does the future hold next? When will consumers feel comfortable again? When will we get back to “normal”? Early indications from China and other countries that have “reopened” are that consumers will be slow to come out as […]

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The Power of Customer Data – Three Considerations for Finding Your System

When I took over Monkey Bizness Franchising, an indoor kids’ play concept, in 2015, I asked our franchisees a question, “How many times do you think our average customer comes each year?”. We had four franchisees at the time and I got for different answers ranging from 6 to “I have no idea”.  We had

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3 Ways to Build a Financial Support System For Franchisees

Success for any franchisor can be measured by their number of healthy franchisees.  The statistics bear out that franchises fail about as often as a regular business.  This should be somewhat surprising because many franchise concepts are modeled after an existing business that has experienced a certain level of success.  Many franchise systems have failure

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Marketing, Customer Value, and Capital Allocation: 3 Things Small Businesses Can Learn from Spotify

Spotify is going through changes.  Recently their CFO announced he would be leaving and an in-house candidate was chosen to succeed him. The Company is in a fierce fight with the likes of Amazon and Apple over music streaming.  They are also looking at ways to maximize ad-revenue and further monetize the growth of podcasting. 

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Accounting + Marketing: 3 Ways Your Accounting Should be Supporting your Marketing Efforts

In my opinion, there may be no other area that small business owners are missing out then integrating their accounting and marketing.  The wealth of information that accounting data can provide to small business marketing efforts can help save money and be more effective.  I know there are a lot of jokes out there….mixing accounting

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Big Ideas for Small Businesses: 3 Ways Small Businesses Can Use Big Data

Too many small business owners are losing out by not using some of the data they have readily available.  I am always surprised at how many small businesses are missing huge opportunities to learn about their customers from accounting, finance, and other data they have readily available.  While small businesses certainly don’t have the amount

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