The EntreLeadership Podcast
When Is It Too Late to Stop a Bad Decision?
Feb 12, 2024
Topics discussed include hiring family members without affecting company culture, budget-friendly ways to show appreciation to your team, dealing with customers who interrupt your business, considerations before expanding through franchising, balancing work and personal life, implementing profit sharing, transitioning a business to a home setting, setting clear business hours and prioritizing customer service, and the growth and profitability of a cake business.
51:54
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Quick takeaways
- Franchising should be pursued only after establishing multiple successful locations and developing repeatable systems.
- Growing a business requires refining operations, achieving profitability, and establishing clear business hours.
Deep dives
Growing the Business
The podcast episode features a small business owner who runs a unique cake shop. The shop provides an exceptional experience for customers from the moment they step in front of the door. The owner is considering expanding the business and wonders if they should open another location or pursue franchising. They seek advice on how to determine the right time to grow and the best direction to take.
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