Monthly Archives: December 2015

Want to Be a Successful Business Owner? Don’t Make These Mistakes

7K0A0014-2While the idea of owning a business is a dream for many people, there are times when entrepreneurs fail to think things through. Funding the business, having an in-demand product or service to sell, and hiring employees are some of the common challenges that entrepreneurs face:

  • Hiring employees too quickly can financially drain your business. If you pay people to do nothing, and no sales are generated from their work, then employing a staff is a financial loss.
  • Borrowing money from lenders can be of great service to you, but don’t make the mistake of borrowing more than you really need. You will likely spend that money and have to pay interest back on money you didn’t really need to borrow.
  • Assuming your business will make money in the early years is one of the most common mistakes entrepreneurs make. If your business shows a profit early on, that’s great — but don’t assume it will, and be prepared for all of the expenses.
  • Marketing your business is necessary and takes time. You must market to both win and retain customers who may not know anything about you or your business.
  • Leasing Space You Don’t Need. If you don’t really need a retail or office space, then don’t rent it. You can save money working from home — and receive a few tax incentives for doing so.

Many successful entrepreneurs did not succeed at first and experienced their fair share of trial and error to find out what works for them. Check out these business leaders who failed before they succeeded:

  • Akio Morita is the founder of Sony products. The first product was a rice burner that burned the rice. But Morita kept pushing forward with new ideas.
  • Bill Gates started a company called Traf-O-Data that failed, and he dropped out of Harvard. Gates didn’t give up, though, as he is the billionaire behind Microsoft.
  • Colonel Sanders was 65 years old when he founded Kentucky Fried Chicken. Did you know his famous secret recipe was rejected more than 1,000 times before a restaurant agreed to use it?
  • Henry Ford’s first two automobile companies failed and left him broke. He refused to give up, though, and founded Ford Motor Company with assembly line production. The result: He was once known as one of the three richest men in the world.
  • Walt Disney was fired by an editor for lack of imagination and having no original ideas. His first animation company went bankrupt, and he was turned down hundreds of times for loans to build Disney World. Today, the Disney Company averages $30 billion in revenue annually.

Many people have failed at first only to ultimately succeed. Learn from them and gain inspiration from them on your journey as an entrepreneur.

If you are ready to make your dream of owning a business come true, National Property Inspections in the United States and Global Property Inspections in Canada have franchise opportunities available in your area. Contact Julie Erickson at 1.800.333.9807, Ext. 24, for information about our property inspection franchise opportunities.

What Makes a Good Entrepreneur?

IMG_0801Many people dream of becoming prosperous business owners; however, achieving that goal is challenging and requires hard work. Some people never take the initiative to try to make it happen — possibly due to fear and/or lack of ambition. Granted, some people seem to be born with the talent for becoming successful business owners. Others may attempt entrepreneurship without really understanding what makes good business sense.

So, how can you determine whether you have what it takes to become a successful business owner? The following are some characteristics that will go a long way to improving your chance of success.

  • Stay Flexible: As a business owner, you can’t always predict what a customer will want or how your day will go. Staying flexible will help you keep calm in situations where a customer or employee has special needs and requests.
  • Build Relationships. Try to get to know each and every customer, especially as you are building your business. This may become challenging if you grow into a successful business and have a significant number of customers, but you should still try to connect with every one of them. Your early customers are critical to your growth; they will refer friends and family members to you, often saying, “Hey, go down to such-and-such place and tell them I sent you.”
  • Don’t Be Narcissistic. If you want to build a business, you will find that simply being likable is a great asset. Don’t treat people as if they are beneath you. Don’t make everything about you — consider your customers and employees, too.
  • Learn to Market Yourself. Personal relationships and word of mouth are effective ways to build your business. You also need to market your business by other means such as Internet directories, your website, local newspapers and publications, and getting out in the community. This will enable you to contact new customers in a wider area and at a faster rate than simply relying on your existing customer base to send you new business.
  • Build a Business You Like. Yes, it is helpful to like what you do, but the bigger question is can you sell what you like? Will consumers want or need to buy what you are offering? As a potential entrepreneur, make sure your business is one that is in demand and that consumers will seek out.

NPI/GPI Franchise Owners Win Big at 2015 Annual Conference

NPI and GPI Pinnacle Award Winners

NPI and GPI Pinnacle Award Winners

National Property Inspections, Inc., parent company of National Property Inspections in the United States and Global Property Inspections in Canada, gave awards to 43 franchise owners who are top performers in five categories: the Platinum Award, the President’s Club, the Pinnacle Award, the Pacesetter Award and the Ambassador Award. In addition, four franchise owners were inducted into the NPI/GPI Hall of Fame.

The awards banquet was held during the 2015 NPI/GPI Annual Conference in downtown Omaha, Nebraska, Nov. 13 and 14. Franchisees from across the United States and Canada attended, as well as their spouses and employees.

The Platinum, President’s Club, Pinnacle and Pacesetter awards are based on three main criteria:

  1. Reported earnings and percentage of growth from the previous year
  2. Size and location of franchise market
  3. Length of time the franchise has been in operation

The Ambassador Award is given to franchise owners who have consistently demonstrated goodwill toward their fellow franchisees by offering field training, mentoring and business advice, and they have often helped recruit or onboard new franchise owners. Hall of Fame inductees have owned their franchises for 15 years or more, have won multiple NPI/GPI annual awards, and have demonstrated the highest level of ethics and integrity in their business dealings.

“We have outstanding franchisees, and these awards are our way of recognizing our top performers in various markets,” said Roland Bates, president of National Property Inspections, Inc. “Our franchisees did more business collectively this year than any year in the past. They have worked extremely hard to build their businesses, and every award winner is most deserving of their award.”

NPI franchise owners John Braddock, Castle Rock, Colorado, and Steve Anderson, Goodyear, Arizona, were recipients of the NPI Platinum Award.

NPI and GPI President's Club Award Winners

NPI and GPI President’s Club Award Winners

Several franchise owners received the NPI/GPI President’s Club Award: Rich Buhrman, Hedgesville, West Virginia; Eldon Holliday, Olive Branch, Mississippi; Gerry and Susan Millen, Regina, Saskatchewan; Ron Schenck, Kennewick, Washington; Rodney Twyford, San Antonio, Texas; David Riley, Savannah, Georgia; and Chris Marshall, Doylestown, Pennsylvania; Andy Hasler, Camarillo, California; Scott Cowan, Oakley, Utah; Greg Mathias, Lloydminster, Alberta; Cam Ralston, Grand Prairie, Alberta; Matt Tracy, Doylestown, Pennsylvania; Jim and Susan Giuffre, Ocean Isle Beach, North Carolina; Wes and Crystal Grant, Indian Trail, North Carolina; Ron and Kate Griffith, Clinton, Connecticut; and David Perrin, Roanoke, Virginia.

Recipients of the NPI/GPI Pinnacle Award were the following franchise owners: Jason Bancroft, Gilbertsville, Pennsylvania; Lawrence and Kathy Englehart, Dartmouth, Nova Scotia; Todd Newhook, Markham, Ontario; Tom and Carrie Trotter, Troy, Ohio; Doug Versaw and Margaret Herrera, Golden, Colorado; Tim Williams, Lynn Haven, Florida; John Nelson, Manassas, Virginia; Brett Freebody, Carle Place, New York; Mark and Trasi Crowley, Bettendorf, Iowa; Andy Smith and Daryle Wilken, Omaha, Nebraska; Terry Haynie, Indian Springs, Ohio; Stephan Quigley, Forest Hill, Maryland; Ed Lannon, Miramar Beach, Florida; Charlie Panellino, Smithtown, New York; George Gould, St. Charles, Missouri; Ron Pronchuk, London, Ontario; Tim Forest, Sylvan Lake, Alberta; Greg Eckert, Amelia, Ohio; Steve and Lynn Gregory, Floyd, Virginia; Pat Standefer, Richardson, Texas; and Chae Bybee, Sheridan, Wyoming.

Max Cheang, Cumming, Georgia, was the winner of the NPI Pacesetter Award.

The following NPI franchise owners won the Ambassador Award: Sean Green, Flower Mound, Texas; Tony Marino, St. Petersburg, Florida; and Pete Lauterer, Denver, North Carolina.

Four outstanding, longtime franchises were inducted into the NPI/GPI Hall of Fame this year: Robert and Heather Gould, St. Charles, Missouri; John Fast, Chattaroy, Washington; Tracy Murphy, Great Falls, Montana; and Thom Bowyer, Kentwood, Michigan.

National Property Inspections, Inc., wishes to commend all of its 2015 award winners. “These franchise owners have worked tremendously hard for many years, and every one of them deserves their award,” Bates said, “We at NPI and GPI truly appreciate their dedication, ambition and hard work. I offer my sincerest congratulations to all of them.”