To Grow or Not to Grow; That is the Question

arrowBooster Juice started off in 1999 as a one-store operation with a lot of questions about whether it would burn out as a fad. Their product was a juice smoothie (a fruit, vegetable, or plant-based drink shake). However, by 2016, Booster Juice had over 330 stores across Canada, and they are now looking at entering the U.S. market for even more expansion. How did this company go from one small outfit to a mega corporation franchise, and what did Booster Juice’s management do right to maintain growth successfully?

Dale Wishewan, Booster Juice’s owner, was a mechanical engineer by training, being naturally geared to decisions based on analysis. However, he also realized that just running a business by not taking any risks or having the cash on hand to pay for those risks, was never going to produce fast, exponential growth.

A Path for Growth

So, Wishewan settled early on franchising. The franchise decentralization of daily work and keeping an eye on the big picture kept Wishewan and Booster Juice on track. However, the fact that the daily store management was placed with franchisees who had “skin in the game” also meant that Wishewan didn’t have to worry about the loss of loyalty or control.

The above said, Wishewan still avoided high risk markets, especially overseas like China or South America. While these emerging market venues seemed to offer faster growth, the risk level was higher with control issues. Distance and language also presented major management hurdles as well. So, Wishewan wisely turned down those markets to continue growing in Canada alone. It was a smart decision proven by Booster Juice’s metrics and profit figures.

It’s All About the Plan

Scaling up is as much about planning and strategy as it is understanding one’s current capability and cash flow. There is no one aspect of business an owner or manager focuses on; it’s a multi-faceted challenge to meet the increased sales demand promptly and plan logistics correctly while not ending up going bankrupt in the process. As was seen in the above franchise example, not every opportunity was pursued. The business owners had to do some hard research and probability testing to determine which markets were their best choices for solid growth versus high risk and potential failure. By doing so, they avoided common mistakes in fast growth, such as over-commitment and unreasonable sales targets in the process.

Have an Objective Perspective

Exponential expansion can seem alluring, even addictive. After all, with accrual accounting, things can look pretty rosy for a business once projected sales are included in the numbers, and they’re boosting the revenue side of the accounting reports. However, cash is the killer that brings back reality like a bucket of cold water in the face. When payroll, supplies, liabilities, loans and leveraging can’t be paid timely because the projected sales haven’t materialized yet, a company can fold very quickly, even within a thirty to forty-five day time cycle, just from lack of cash. Ideally, a business should have sufficient resources to take on extra growth, but that’s not how real business works. Risk and taking logistical bets are common which makes planning wisely crucial to not betting the farm on “maybe” revenue.

Wishewan and Booster Juice provide a clear example of why, even with positive growth, a business owner or leader has to judge ventures carefully before jumping in. Sometimes some revenue opportunities do need to be passed up to stay successful overall.


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A Creative Life Improves Creative Buying Processes

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There are more than a few steps involved in the buying process. When you integrate creativity into this process, this can lead to amazing business opportunities.

Incorporating creativity into the buying process means human experience should play a core role. Businesses prefer to partner with businesses they can relate to; ones they have a common goal with. This is why the human experience should always be shared when creating or redefining a company’s brand. The more relation a company can share with a distributor or manufacturer, the stronger the business-to-business and business-to-customer relationships will be.

So, how does a business owner go about integrating creativity into his or her lifestyle to improve the creative buying process? Fortunately, there are many ways company owners can embody creativity into their everyday life. Here is a close look at three of them.

1: Go on vacations

When a business owner does not have time to go on a vacation, this probably means he or she is working too hard. Operating a successful business involves all aspects of the company being conducted in a healthy manner, including its employees and owner(s). Going on a vacation allows the owner to indulge in his or her passions, which increases endorphins and serotonin and leads to the enhancement of creativity in the mind. Business owners often find their most genius ideas come to them while away from work.

2: Take chances

Business owners don’t become successful out of fear. Instead, they are willing to take risks. You’ll never know if a creative idea is going to work unless you try it. If you’re fearful about trying out a new creative idea, you can always turn to the support of your friends, family, coworkers, and any people you consider mentors. If you steer clear of taking chances, this is a sure way to kill the creativity in your life, which means creative buying processes will be at an extreme minimum.

3: Share your experience

The number one way to blend creativity into your lifestyle as a business owner is to share your experience with others who are striving to achieve the same goals you are. In doing this, you will receive valuable feedback that can help you steer clear of costly mistakes while at the same time learn about successful creative buying processes others are using that you can take advantage of.

Make sure you keep in mind the three tips mentioned above as you continue on your journey as a business owner. Creative buying processes are an essential part of managing any type of business, and as these processes improve, you will notice a substantial change in your capability to expand the services you offer to a wider range of customers because you will have more time and energy to focus on meeting your customers’ needs.


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Business Lessons from a Dog

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Business lessons can be found everywhere we look in life. One of the best ways to learn is by simply looking at the world in a new way. Dogs look at the world differently than we do and often have a very simple outlook. If you want to learn more about business, these are some of the lessons your dog is trying to teach you.

Don’t Take Everything So Seriously

To dogs, everything is great. They do not get down about being out of treats. They definitely want one still but they move on very quickly and it isn’t that serious. Sometimes you have to approach business the same way. Yes, there are serious situations you will run into, but there are also some that you take too seriously. Things are usually not as bad as you make them out to be, so focus on the good and do not freak out so much over the bad.

Take a Chance on Something New and Trust Your People

Dogs are mostly happy-go-lucky and are always ready to go on a ride. They do not need to know where they are going, but they are happy to be on the ride. They trust you as their owner, and they know they will be taken care of no matter what. This kind of trust is not always found in the business world. In fact, it is rare. However, if you trust your employees, allow them to take the reigns sometimes and see where it can take the business.

Never Meet a Stranger

A dog never meets a stranger and is instant friends with anyone they meet. If you had this same approach, you would have a much bigger network of people that you could reach in your business. You could have new customers, new clients, new friends, and even new business partners. Approach each new person you meet with the same vibrancy and openness as a dog would and you will be surprised by how much it opens doors for you.

Listen When People Speak to You

This may seem very basic, but dogs are always listening when someone is talking to them. They may not do what is asked, but they are listening. Whenever someone is speaking to you in a business setting, you should focus your attention on them and actively listen to what they are saying.

Trust Your Instincts

Dogs follow their noses, and they also have killer instincts. They do not second guess them. Start trusting yourself more and when you have an instinct about something, more often than not, you will be right if the feeling is strong enough.

Dogs can teach us a lot about life as well as business. Most of these lessons can be used in the business setting as well as in your daily life. Just understanding these basic concepts can help you in your own life.


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Tips for creating and designing a great looking and functional brochure from Print It Plus

Choosing the best, most productive ways to market and brand your business has become an increasingly complicated task.  Marketing budgets for most small companies are limited.  And with the continued explosion of the internet and the lessening impact of some other, more traditional forms of marketing, many business people have started to believe that you can abandon the traditional forms, including brochures, all together.

This kind of thinking on the surface may seem sound.  In reality, though, putting all of your marketing dollars into just the internet basket can prove to be a costly mistake.  Even today in 2014, you need to have something of substance to hand to potential clients that will get you noticed and help to build your credibility in ways that the internet does not.  A great looking and functional brochure can play an important role in your marketing strategy for engaging your clients and potential clients alike:

A well-constructed brochure:

–          Gives pertinent information about your company to potential clients.

  • Company information, including: website, phone number, tagline, maybe mission statement

–          Gives reasons that you are different and better than your competition

–          Gives information about other products and/or services that you offer that a potential or current client might not be aware of

  • Menu of services

–          Great way to showcase successful projects that you have already completed

–          Catches your eye with good, catchy graphics

–          More likely to get your client or potential client’s attention, which is half the battle in trying to get your marketing message across

–          The consumer wants to know what you can do for them… a good brochure conveys that message strongly and succinctly

The most important thing to include is what you can do to help them by using your company. Include information that customers ask you about your company.

Use Images that show customers what you can do for them.

Design Tips:

Select an interesting background or use an image that applies to your business. The colors should go along with your branding and allow customers to relate to the information.

Use bulleted items to highlight products or services.

Box off areas to break up text into relevant sections.

Use lots of photographs. The saying that a picture is worth a thousand words is really true. Not only does it make the brochure more appealing, it will keep your audience’s attention longer and allow you to get more of your message across.

If you are going to fold your brochure, you should consider that in the layout. Your “live area” margins should be at least ¼” on all edges and the space between each of the panels should be double the amount of your margin. You should never have wording any closer than the ¼”(live area).

IE: if you use a ¼” margin on the edge of the page, you should allow ½” between panels, if you use a 3/8” margin, you should allow ¾” between panels, etc. See diagram below.
brochure margins
brochure margins half fold

If you are going to bleed images like a background or color, you should make it at least 1/8” larger (on all 4 sides) than the sheet of paper. Cutting cannot be done on an exact line when we are cutting a stack of paper in a guillotine cutter. Giving us at Print It Plus the extra will insure your image will look great in the background.

Whether you need a Brochure, printing, digital printing, full color printing, business stationery and forms, memos, menus, logo design, promotional products, marketing and advertising design, mailing services (direct mail), website design and marketing solutions, Print It Plus is the place for you to bring your business in West Palm Beach, Royal Palm Beach, Palm Beach, Loxahatchee, Lake Worth and throughout Palm Beach County.

To learn more about Print It Plus, go to http://www.PrintItPlus.com