CATEGORIES
TAGS
IP Protection in the Metaverse
Recently I participated in a conference on the Metaverse 2.0 and can reveal why Intellectual Property is the building blocks of this new frontier. 1. Intellectual Property Protects New Value Whilst both skepticism and opportunity abound with the hype of cryptocurrencies and non-fungible tokens (âNFTsâ), the fact is that our digital world is frequently creating […]
Read More
Welcome to the Ideas Economy (AUS Biz)
This month I was interviewed by AusBiz on the launch of two ideas part of Australiaâs Ideas Economy. The first, my book âIdeaology: a compass to intellectual property success in an Ideas Economyâ was released last September details the steps to build and launch a venture based on creating valuable assets otherwise known as Intellectual […]
Read More
Ideas, Intellectual Property and the Fourth Industrial Revolution
Yesterday over 1,000 delegates from the WIPOâs 192 member states met to consider a range of work on issues related to intellectual property, which is becoming the bedrock for economic policy in a globalized, technology-driven world. This is so important for the Future of Work as your valuable ideas are at the forefront of the […]
Read More
Are traditional franchise models dead or on life-support? … A 4-Step Action Plan for Survival
1. Prevent Cardiac Arrest The demise of some big franchise brands has led many franchise commentators to argue that traditional franchising models have reached a degenerative stage and some even reckon that âfranchising as a business method will need to be dismantled and reconstructedâ to Prevent Cardiac Arrest. Many franchise systems are either dead and […]
Read More
Mitre 10 facing calls to end company-owned outlets but both franchisees and franchisors win when head office owns stores
Some franchisees of hardware chain Mitre 10 are calling for an end to âcompany-ownedâ stores. These are stores owned and run by Metcash, which owns the Mitre 10 brand and is a supplier to the franchisees. But research shows that brands with a mixture of franchised and company-owned stores are not only more profitable but […]
Read More
Both franchisees and franchisors benefit from company-owned stores
Some franchisees of hardware chain Mitre 10 are calling for an end to âcompany-ownedâ stores. These are stores owned and run by Metcash, which owns the Mitre 10 brand and is a supplier to the franchisees. But research shows that brands with a mixture of franchised and company-owned stores are not only more profitable but […]
Read More
The 19-Step Path to Manage Customer Defection
Pre-emptive effort! Customer defection management is a pre-emptive whole-of-business effort to engage systems and behaviors that constantly inform management when a customer stops buying in favor of a competitor and the reasons why so that it is better positioned to avert future defections. In instances where your business deals mainly with intangible products, a zero […]
Read More
Good Faith in franchising⊠bad for Goodwill
One of Australiaâs largest and oldest franchise systems has been rocked to its core with revelations of underpayment of wages by its franchisees and allegations of dubious reporting. 7/11 is bruised and battered amidst franchisee discordance and scrutiny by Australian regulators. The 7/11 wage price scandal reinforces that every franchisor has obligations of good faith […]
Read More
Franchisors Beware- Government Targets Friends With Benefits
Most of us donât want to see the wage entitlements of vulnerable employees being short-changed by their hegemonic employers. Recent evidence of employee exploitations by 7-Eleven, Caltex and Yogurberry franchisees has created a feeding frenzy for mainstream media and impelled Government to propose new laws that make franchisors responsible for franchiseesâ non-compliance of workplace laws. […]
Read More
Franchises shouldnât share responsibilities for stuff-ups
The governmentâs plan to combat recent cases of franchise misbehaviour by holding franchisors responsible for wage underpayments by their franchisees, could undermine the business model of franchises. Franchisors and franchisees operate as separate legal entities. Until now, franchisors have relied on this separation to avoid responsibility for franchisee non-compliance with workplace laws. Itâs this separation […]
Read More
19 Proven Steps to Stop Customer Defection
Pre-emptive effort! Customer migration management is a pre-emptive whole-of-business effort to engage systems and behaviors that constantly inform management when a customer stops buying in favor of a competitor and the reasons why, so that it is better positioned to avert future defections. In instances where your business deals mainly with intangible products, a zero […]
Read More
Breakthrough methodology for valuing franchise goodwill- what’s all the fuss about?
The chief examiner of my thesis commented- âIt makes important contributions/advances in the scholarship of governance structure, risks, returns, and valuation of franchisee-operated businesses – areas of scholarship that have received only scant attention over the last three decadesâ Complexities of franchise contracts Government intervention in the Australian franchising sector means that franchisors and franchisees […]
Read More
The future of franchisng in a digital age
The rise and rise of digital and social media coupled with the increasing popularity of  on-line businesses raises the question of the future of franchising in the digital age. With challenges evolving with some of Australiaâs biggest big franchise brands (Eagleboys, Seven Eleven to name a few) many franchise commentators argue that traditional franchising models have reached […]
Read More
The Future of Franchising in a Digital Age
The rise and rise of digital and social media coupled with the increasing popularity of on-line businesses raises the question of the future of franchising in the digital age. With challenges evolving with some of Australiaâs biggest big franchise brands (Eagleboys, Seven Eleven to name a few) many franchise commentators argue that traditional franchising models […]
Read More
Growing Goodwill: The Devil is in the Detail
In light of the public exposure of the 7/11 wage price scandal and the likelihood of further investigations by ASIC , franchisors must implement effective measures to ensure a positive culture of compliance and to quarantine the goodwill in their system. Successful implementation of this following 5-Point Strategy can mitigate the risks of breaching the […]
Read More
Goodwill and good faith: 7-11 Short changes the Australian Franchise Systems
One of Australiaâs largest and oldest franchise systems has been rocked t with revelations of underpayment of wages by its franchisees and allegations of dubious reporting. 7/11 brand reputation has been bruised and battered amidst franchisee discordance and scrutiny by Australian regulators. The 7/11 wage price scandal reinforces that every franchisor has obligations of good […]
Read More
8 Tips to Consummate the Value of Goodwill
The franchise relationship is a marriage of convenience that in order to succeed needs close collaboration between franchisees, franchisors and suppliers. The survival of this co-dependent partnership requires the valuation of goodwill, which both partners need to agree on, otherwise the marriage may end up âon the rocksâ. This includes a healthy understanding of the […]
Read More
Financial Reporting of Valuations facing tides of change
Recently John Price, ASICâs Commissioner fired a warning shot across the bow of Companies to alert their Directors of the increasing malpractice of using âunrealistic assumptionsâ in testing the value of assets that have applied inappropriate approaches in areas such as revenue recognitionâ.
Read More
Protecting your brands most visible asset with Trademarks
You wouldnât drive a car without a registration licence â so why are your driving your business without registering your most visible asset, your brand? One of the most valuable assets a business owner can own is their brand. Business owners should consider protecting their logo (visual features), name (brand identity) and tagline (call to […]
Read More
The Microsoft Intangible Gamble
Only 30 years ago the value of intangible assets was only a small percentage of the valuation of businesses known (mostly to accountants) only as “goodwill”. In accounting terms this asset class is distinguished from other revenue generating assets that are tangible and can be separately identified and valued. Up until last century the greater portion of business valuations would be dominated by tangible assets such as factories, stock, plant and equipment.
Read More
Why franchisor must hold the reins to the brand
Brand is integral to franchising, and taking control and ownership of a business brand away from the franchisor and handing it to individual franchisees is just not franchising, a Griffith Business School researcher has claimed. Maurice Roussety says such a business model is nothing but a fix-all solution that will fail in the face of […]
Read More