Business
Why do 90% of franchise businesses succeed within 10 years but only 10% of independent businesses? A quick daily hit with Carl Gould to achieve a lifetime of results. Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. Now that you have this understanding of what your style is, what function of a business you might gravitate towards or what industry you might resonate with most, what type of business to be in, how do you then begin–this building this successful business? And what’s interesting is that statistics would say that 10% of independently owned businesses will reach a measure of success after 10 years. Yet 90% of franchise businesses will achieve success in their first 10 years. Now what’s the difference between an independent business and a franchise? And if what came to mind was the word systems, you’re absolutely right. A successful system is what makes a successful company. As a matter of fact a business is a system as we discussed earlier, it is a system of exchanging value. So, if you buy a system or input a system that’s your answer, right? Not quite and this is the one with the most overlooked areas in business. You must first implement a structure to your business before you put in a system. Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.