Valuable Resources for Your Business Research Process
As you're looking to start your business, there are many ways to go about the researching process. From talking to other entrepreneurs, to researching your franchising brand, to looking toward outside materials, there's an overwhelming amount of helpful information out in the world. (This same info is still helpful once you're up and running, too.)
You can even opt for a variety by including the mediums you most enjoy (reading, listening, viewing, and so on).
Take a look at some of our top picks for learning as much as possible on how to start your own business. These resources offer real data, tips, and best practices for franchisees on all levels, whether you're starting your first business, or are a serial franchisee.
Check out our previous posts outlining motivational and instructional books on opening up your own gig. These vetted authors share real-life events, tips along every stage of the process, and they do so in a way that's easily read and understood. Better yet is there are hundreds of books so you can pick a favorite author, or pick and choose based on subject matter.
Reading is a great way to learn new business skills. Don't overlook this daily habit and you can take in plenty about the entrepreneur-ing process.
Podcasts, Radio Shows, and Books on Tape
If listening is more your thing, you're in luck because there is an overwhelming amount of content for your daily commute. Subscribe to podcasts, get a subscription to Audible (or another listening service), or simply download content. What's nice about listening is that you can multi-task; tune in while driving, working out, doing chores, or even relaxing.
Check out podcasts from wherever you subscribe, books on tape, specialized apps, and more.
Did you know you can learn better business practices just from watching TV? Adjust your DVR for pointed shows and you can get business lessons every time you sit down to the tube. Choose reality shows like Shark Tank, The Apprentice, and Kitchen Nightmares for ongoing (and real-life) lessons in making your business work. Fiction shows can also provide great insight, for instance, The Good Wife, Scandal, and Superior Donuts.
While you're at it, check out documentaries, whether on cable or Netflix, for an up-close look at various industries or businesses. Take notes, too, so you have an easy reference on what worked in each situation, or what caused a downfall.
When you have a few minutes, start researching case studies. You can opt for a business in your field, or one that's way out of the blue; you'll gain knowledge and ideas from both. (In fact, we recommend keeping a variety to your research for a well-rounded approach.)
Look online for slides, data, and more for a thorough look behind a business. These can be found all over the web, often by research or marketing companies who show their work, including before and afters. However, it's still real franchising data that you can learn from.
Check out free versions by searching and subscribing to email lists or setting up email alerts. Or, you can consider a paid subscription that can offer even more insight toward your business goals.
What did your friend's business do to increase profits last year? What's causing the business down the street to lose customers? Just by paying attention to the locations around you, you can take in new information to use within your own franchise. What's nice about this method is that it teaches you to be aware of your surroundings; before you know it, you'll be noticing what so-and-so did for growth. You can also learn from brands within your same demographic.
Finally, don't overlook the power of Googling … anything and everything. Put your search engine to good use and find out as much as possible. When asking your computer, there's no one to add an opinion on your question (or to be embarrassed in front of for not knowing what you think you should). Your computer offers a solid mix of data from businesses in your industry and beyond. Never underestimate it as a powerful researching tool.
Are you ready to take your researching skills to the next level? Use the above tips, and of course, get in touch. We're here to help!