Welcome back to another episode of the Franchise My Business podcast. In today’s episode, we dive deep into the world of partnerships within the franchising industry. We are excited to bring you insights from an experienced entrepreneur, Kevin Oldham, who shares his personal perspective on the role of partners in his own businesses.
From the highs of successful collaborations to the pitfalls of unsuccessful partnerships, Kevin will provide invaluable insights into the key factors that contribute to a fruitful partnership within the context of franchising. So, grab your notepads and get ready to explore the pros and cons of partners in franchises. Let’s dive right in!
Highlights:
Building a Solid Partnership: Laying the Groundwork for a Successful Journey Together – Kevin: “
“Cons if you’re not aligned, I think it can be very detrimental to your partnership if you’re somebody who doesn’t think with a mind of abundance. Right? If you’re somebody who’s kind of, think small and you’re like “Hey I got to have like a bigger piece of the pie” partnerships probably won’t work out well for you. If you’re not somebody who’s willing to get out of the way and just trust that the other person has their part of the business and it’s going to loop you in if there’s an issue and partnerships probably not going to work out that well for you I think the number one thing when it comes to partners is you guys want to date before you get married.
Do you want to date before you get married? Get to know each other, work together, do some projects together before you start tying together, things like bank accounts, and finances, and legal agreements and maybe liabilities on leases, and things like that. You just want to make sure that you date each other first and do some projects and work together to find out if basically getting married, becoming like legal business partners will actually be something that works out well for you.”
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Welcome back to the Franchise My Business podcast where we explore innovative strategies and mindsets for entrepreneurs. In today’s episode, titled “10x Is Easier Than 2x Thoughts,” we dive into an interesting concept that challenges traditional notions of growth. Kevin Oldham, shares his personal experience and recommends an impactful book that offers a fresh perspective on achieving extraordinary results.
What does it truly mean to play a different game? How can we shift our mindset to attain remarkable results? Our host suggests checking out the book or its summary to grasp the transformative power of this concept. Get ready to challenge your thinking and discover why 10x growth is easier than 2x thoughts. Let’s dive in!
Highlight Quotes:
Amplifying Growth: Unlocking the Power of 10x Strategy (Kevin Oldham): “The synopsis of 10x is easier than 2x is that in order to go 10x, you basically got to play a different game. You may need different players on the team, you may be need a different playbook, like you probably have to throw out everything that got you to where you are today in terms of thinking and get rid of that thinking. Put it off on the shelf and look at the problem differently because if we wanted to take our digital marketing company 10x instead of just double the size of, it went to the 10x the size of its sheer grit and the things that we did last year are not going to get us there. we’re going to be looking at things like creating new service lines, there’s gonna be a new team members, it’s going to be a completely different organization. You know we could probably 2x the company and have it be the same type of company but to 10x it’s probably going to look dramatically different.”
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In this episode, Kris Olivo, CEO of Almost Magical Marketing, joins host Kevin Oldham on the Franchise My Business Podcast. They discuss Kris’s background in Brazilian jiu-jitsu and how it has influenced his work. They also talk about the llamas that serve as the mascot for Almost Magical Marketing. Kris shares the story of how the company was founded and its focus on working with franchisees and franchise organizations. They touch on the trend of younger entrepreneurs getting involved in franchising and the benefits of the franchise model. Kris also mentions the book he co-authored, “The Grand Opening Game Plan,” which provides a step-by-step approach to opening a new business. Overall, the conversation highlights the importance of integrity and honesty in business and the value of providing a proven business model to aspiring entrepreneurs.
HIGHLIGHT QUOTES
Importance of integrity and honesty in business.
“We left that kind of toxicity. We’re in ‘how to start all over again’, burn everything to the ground to build it back up and. We did it with honesty, you know, and that, that’s carried us really, really far. It’s literally just being good people and just being honest people. So, and doing good work, obviously.” – Kris Olivio
Franchising makes an impact.
“If you’re somebody who’s thinking about franchising, know that you’re going to have a huge impact on the world. I’m making that decision. You’re going to impact entrepreneurs’ lives. You’re going to impact customers that come to those entrepreneurs that you will never know. You may just see them on a royalty sheet one day. ” – Kevin Oldham
In this episode of Franchise My Business, host Kevin Oldham discusses the importance of seeking inspiration beyond the confines of your own organization. He shares personal experiences of finding innovative ideas in unexpected places, such as a coffee shop made from a shipping container and unique concepts from various industries. Kevin emphasizes the value of breaking patterns and exploring new environments to stimulate creativity and solve problems. He highlights that innovation often occurs in the in-between spaces of daily life and encourages listeners to step outside their industry for fresh perspectives.
HIGHLIGHT QUOTES
Expanding Franchise Ideas through Observation – Kevin:“And one day we were driving by this really, really cool coffee shop. And it was made out of, basically it was a drive-through, and it was made out of a shipping container. It was called Table Rock coffee roasters, and all of a sudden I just start taking pictures as we’re driving by, and my wife’s like, ‘What are you doing?’ And I said, ‘Honey, I’m taking pictures because I feel like that shipping container is a potential way that we could expand our franchise because we’re always looking at ways that we can economically bring a drive-through model to market.’”
Break Patterns for Innovation – Kevin: “What I’ve found is that most of my amazing business ideas, most of the breakthroughs I’ve had, all those things that really rarely happen when I’m super close to things, and typically it’s those spaces in between when we’re mostly inspiration happens. And when there’s inspiration, a lot of times that can trigger innovation and innovation can trigger really, really cool things for your franchise and for your business.”
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In this episode of Franchise My Business, host Kevin Oldham is joined by Mark de Grasse, the President of DigitalMarketer.com, to talk about the future of technology and AI. Mark explains how AI is transforming the business landscape, making programming and coding more accessible and affordable. He discusses the potential impact of AI on advertising, customer service, and product development. Mark also highlights the importance of providing excellent service and products in the age of AI. He predicts that AI will lead to job loss but also create opportunities for businesses to differentiate themselves through exceptional customer care.
HIGHLIGHT QUOTES
The potential dangers of VR and online avatars.
“Every consumer is going to have these expectations like the service needs to be excellent. The customer care needs to be perfect. The product needs to just last forever and be good the whole time and actually maybe even change with the times” – Mark de Grasse
The excitement and challenges of the AI frontier.
“Now, the other side is that processing power is going to increase and even energy consumption is going to decrease because you’re going to recode all these crummy programs using clean code through AI that now can transfer to anybody. So now you’ve sped up the internet, you’ve sped up processing, you’ve localized the actual generation of the images that you’re looking at now, everything’s smooth and everything’s fast and you can make the actual environment feel way more realistic.” – Mark de Grasse
