A Family Bizness

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“Behind the success of every small business, there is a family”

Family businesses are extraordinary.  In a time where the popular media and press push the next big thing, family businesses often don’t get discussed.  But the statistics don’t lie and they are eye popping…….78% of new job creation comes from family businesses…..over 50% of U.S. GDP is generated from family business…..90% of U.S. businesses are family-owned or controlled by a family.

We talk with plenty of aspiring entrepreneurs and many of them talking about wanting to start a business their whole family will be proud of and can participate in.  I get that because I was in a similar situation 5 years ago.  For many reasons, I was at that point in my life that I went from passively searching for a business to setting up meetings with bankers, lawyers, and business brokers to actively search for a business.  As part of this process, I came up with criteria for the business that I wanted to buy.  Recently, I looked back an email I sent to my dad and here were the top three criteria:

  1. A business that is flexible with family/work time
  2. A business that my wife and kids can all enjoy ownership in
  3. A business that has the opportunity to grow greater than it currently is

Those aren’t the entire criteria (hint: #4 was purely financial), but you can see how the first three criteria were directly driven by my family.  To be very honest, I would not own Monkey Bizness today if it weren’t for my three kids. 

When I first reached out to the former owners of Monkey Bizness to see if they would be interested in selling, my wife and I decided that we would keep this mostly secret for a while.  As things progressed, I let a few close friends in on what was happening.  When we finally signed a purchased agreement, I let a few more people in.  It wasn’t until all the T’s were crossed I’s were dotted that we told our kids.  And when we did, it was an awesome experience. 

Three years later my entire family is still proud owners of Monkey Bizness.  My oldest child who was 8 at the time is now 11 and asks when he can go to work for one of our stores.  My 7-year-old asks me when he will be the owner of Monkey Bizness.  Not to be outdone, my 4-year-old recently asked that since we own Monkey Bizness, could she have a birthday party every weekend. 

In all seriousness, my wife is my business partner in the venture.  Prior to buying Monkey Bizness, we would have sessions where we would talk about all of the things we wanted to do.  Every couple of months we still sit down over a glass of wine and discuss the business in depth.  Because she is somewhat removed (she is a 3rd grade teacher), she can sometimes see the bigger picture and has great ideas to grow the business. 

Monkey Bizness has also provided the personal flexibility that I have always wanted.  While no business owner will tell you that they don’t work hard, business ownership does provide a weird flexibility in and owner’s schedule.  I coach both of my son’s flag football teams and haven’t missed a parent teacher conference in 3 years.  My 11-year-old walks home from school because I am working at home most afternoons. 

As a parent, no situation is perfect.  There is not a situation out there that will pay you enough money, give you enough flexibility, and provide the career growth you are exactly looking for.  Trust me…I have looked.  However, Monkey Bizness for my family has been as close to perfect as possible.  While it is not without stress, the pride owning a family business has given my entire family has been worth it many times over. 

If you are interested in learning more about owning your own Monkey Bizness, please contact us now.

2 Quick Keys to Start Fixing Bad Small Business Marketing

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During one of our recent management meetings, our Director of Operations was describing to our team a recent thread she was following on a Facebook forum.  The thread centered around a small business owner that was asking everyone and anyone for marketing ideas.  One responder posted many ideas and was immediately attacked by a flood of requests to be contacted privately by other small business owners. 

What stuck out to our Director of Operations noticed was that these ideas, while good, were not novel or overly creative.  She mentioned that Monkey Bizness should think about starting up a consulting agency in addition to franchising since many of these ideas and much more, we are executing right now.  While we aren’t seriously contemplating starting a new marketing consulting practice, it did inspire some of this blog post!

This experience is not uncommon and illustrates what has been a consistent issue for small businesses.  In a time where marketing tools are more prevalent and powerful than ever before, small businesses continue to struggle with their marketing.  This is not just a personal observation, but something that is shown to be true based on countless surveys and studies.   The InfusionSoft 2018 “Small Business Marketing Report”, found that the owners who do their marketing themselves are the least satisfied with their results.  The most satisfied? The owners who outsource their marketing.  Almost all owners who do their own marketing believe they are actually losing money on their marketing activities.

While I believe there are many reasons, inspiring small business owners should think about franchising, one of the biggest is because many of them don’t particularly like doing marketing or have a lot of experience with it.  Along with customer service, there is not a bigger determinant of business success than marketing. 

While reading a book, a blog post, or taking a marketing class can be a good start, there are two keys steps that every small business owner must do to successfully market their business.  One of these keys, your franchisor can help you with, the other, your own your own.

Key #1 – Effort

Without effort, any plan you put together will fail.  We all know what effort truly does and doesn’t look like (if you have kids, this is especially true).  Many small business owners trick themselves into thinking they are putting forth the effort needed to market successfully.  However, when you look down your priority list for the week, how many of those tasks will truly drive customers into your business and are marketing focused?  9 times out of 10, daily operations of your business get in the way  In order for the second key to matter, you must start with effort.

Key #2 – Have a Plan for Your Business

Any marketing consultant can tell you to market on Facebook.  However, what should you say and who should you say it to?  These, along with many other questions are much more important than merely determining that you should market on Facebook.  The fact most small business marketing books don’t tell you is there is no cookie cutter, one size fits all approach to marketing.  Each business must determine the best methods to market their business.  There is no silver bullet to figure this out.  There will be some trial and error and along with that comes failure at certain points.  However, the small business that perseveres through this failure is the one most likely to succeed over the long haul. 

I am proud of the Monkey Bizness marketing team because they took these two keys and began to unlock the door to successfully marketing our brand and business.  We have had failures and successes along the way, but the marketing methods we are employing have seen real results in the stores who use both keys above in executing them. 

If you have any interest in owning your own Monkey Bizness, don’t hesitate to contact us to learn more about the opportunities we have available.

4 Common Mistakes we See in Kid’s Businesses

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Bill Gates didn’t make many mistakes.  However, like all of us, there were some.  For instance, he got beat by a small startup with a funny name called Google.  In his quest to protect Microsoft near monopoly at the time on the operating system market, he did pay much attention to the power of the internet much less a tool for people to search it.  In 1992 while being interviewed, Gates said, “It’s fine to celebrate success, but it is more important to heed the lesson of failure”. 

When working with a franchise system are you get the advantage of benefiting from their past mistakes.  The best franchise systems not only learn from their mistakes, but they also are able to look around the market and learn from the mistakes of others.

In the kids play space, there has been a lot of past mistakes made.  In an industry that is still relatively young, there is a lot that those involved in the space are learning about their customers and concepts.  At Monkey Bizness, we have been in the lucky position to learn from others mistakes as well as the unfortunate spot of learning from our own.  Like a few fortunate others, we have survived the mistakes and thrived with the lessons learned.  Here are 4 common mistakes we see competitors make in their kids’ business.

1. Confusing their customer with too many offerings

We see a lot of concepts that try to do it all.  Recently a new competitor opened that offered classes, parties, therapy sessions, open play, and even has a retail area. From what we have seen, that confuses the guest.  One thing our guests like about Monkey Bizness is that it is easy…parents can merely bring their kids and have fun.  While offering it all to your customers sounds good, it also takes effort to do marketing, train your staff, and manage all the systems that come with each of those offerings. 

2. Build Centers with “Home” Equipment

This is perhaps one of the biggest mistakes we see is businesses that open up with equipment that quite frankly is in many kids’ basements.  One reason our guests come to Monkey Bizness is because of the unique equipment we have.  The equipment we have is not found in most kid’s basements.  We have even branched out and started to design our own equipment. 

3. Age Confusion

At Monkey Bizness, we build our stores geared for kids ages 1-8 years old.  This is a unique age group that likes certain activities.  Parents of kids this age have different expectations than parents of older kids.  And lastly, the marketing for kids and parents this age is vastly different then other age groups.  As a result, we are able to truly serve the needs of our target guests.  We see a lot of kids businesses built to try to serve kids from ages 1-18.  The needs for those kids (and safety) is vastly different.  Pick a niche group and stick with it.

4. Too Big of a Facility

Whether you are building or leasing, every extra square foot you occupy costs money.  We see so many places that don’t think out their design or try to put their business into a space that is way too large.  We are in an industry that requires square footage, so it is necessary to have spaces of some size.  However, you must think out your space and have a game plan for how to drive sales per square foot. 

At Monkey Bizness, we strongly believe we have addressed most of these issues and many others we see.  We know that many that open a business working with kids do it out of a passion and that is great!  We also believe that we can help them take their passion and turn it into a successful business.

If you are interested in franchising with Monkey Bizness, please reach out to us for more information.     


The Anatomy of a Great Franchise Fit: 5 Quick Tips

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Odds are if you are reading this, you have at least considered whether this or another franchise is right for you.  In 2018, we spoke to just over 150 people about whether franchising was the right fit for them.  Many of them remind me of my journey 5-6 years ago in discovering what type of business I wanted to start or buy.  For very few on the journey do they know what the destination is exactly.  That is OK.  For most others, the journey starts with trying to decide what is the best fit for you. 

Based on my discussions with those aspiring entrepreneurs and my own journey, here are a few helpful hints to finding the right opportunity for you.  

Remember the Lead Person in this Story….YOU

When I start thinking about right fit, there is a quote from Dawn Abraham I always remember….”Don’t compare yourself to others, you have no idea what their journey is about.”

When you start down the path to entrepreneurship, inevitably you find yourself reading articles, blogs, and books telling you all kinds of advice on finding the perfect opportunity.  I was there, I have read most of them too.  What most won’t tell you is that the person you need to satisfy the most is yourself.  You need to balance the financial, work-life balance, and personal fulfillment pieces and everyone’s will be different. 

Its Not All a Math Exercise

Here is a secret of ours….we can’t stand talking to people about finances right off the bat.  In our business and most others, if someone begins with the bottom line in mind, they are going to struggle being successful.  You better like what you are doing because the peaks and valleys of owning a business are more dramatic than most anything else you have experienced.  If you don’t start with a base of believing and enjoying what you are doing, those valleys will be unbearable.

It is a Math Exercise

Yes, there is number crunching that needs to be done.  Ultimately, no matter how much information a franchisor gives you, it is up to you to figure out of the business makes financial success.  We often get questions about return on investment (we have a whole other blog on that topic), and that is important.  However, you must realize that return on investment is just one factor that must be taken into consideration with everything we talked about above.

Franchises: One Size Does Not Fit All

While on the surface franchises might seem to be very similar, the more you dig the more you will find they are vastly different from each other.  Every franchise will have different fees and level of support.  You should be looking for one that offers a level of support that compliments your skills.  Do you have a background in operations?  Than it might be a good idea to look for a franchise that has support geared more towards marketing. 

Match Your Value with the Franchisors

At Monkey Bizness, our mission is to help children and families be happier and healthier in our communities.  This mission is something that permeates everything we do.  We design our marketing and community partnerships with this in mind.  It would be hard to be a franchisee with us if this is not a mission that you are aligned with.  All franchises have missions, whether stated or not.  Most of the time, they use these missions to drive their strategic goals.  If you are not aligned with the mission, then you may have a tough time operating within their system. 

At Monkey Bizness, we love talking with entrepreneurs about their goals.  If you have interest in possibly starting your own Monkey Bizness, don’t hesitate to contact us to learn more.

What if Kids Ruled the World?

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At Monkey Bizness, we get to do a lot of fun things that other businesses might not get to do.  When your business is built around providing fun, we are inherently responsible for thinking about fun a lot of the time.  Many businesses talk about innovation and our form of the topic is how to create more fun for our guests.

Being the father of 3, I am well versed in kids’ books.  By far, one of my favorites is If Kids Ruled the World by Linda Bailey.  Being somewhat biased, one of my favorite parts is “If kids ruled the world, every day would be your birthday!”.  They say putting yourself in your customer’s shoes is a helpful way to improve your business, so I sometimes ask, “what if kids ruled the world?”. 

I like to believe that Monkey Bizness would be close to the world that kids would build if they ruled the world.  One year ago, we were stuck looking at the same equipment from the same vendors and quite frankly we were bored.  Our Director of Marketing, Ashley, had stumbled upon a company that made cool tree houses on Pinterest.  We reached out to them and started designing our own custom piece of equipment.  As part of the design process, Ashley would ask her son Grant and I would ask my son, Alex, what they thought.  At one point, one of them said, “a foam pit would be awesome!”.  The next iteration of the drawing had a foam pit…..From a simple sketch and a random vendor, we built a brand new custom piece of equipment that our guests at our Parker location love! 

Side view of our newly designed custom piece

We are now contemplating the redesign of one of our corporate stores.  This process began with Ashley, our Director of Operations Dacia, and myself thinking about what our kids like to do.  If they could rule Monkey Bizness, what would the do?  While we aren’t ready yet to reveal what is coming, we do believe we have a couple of cool ideas in our pipeline.  We are again leaning strongly towards developing custom equipment that our customers can only play with at Monkey Bizness. 

At one of our locations, we will soon be unveiling a simple, healthy kids’ menu with some low-priced lunch options.  We went back to our main audience and asked what they wanted.  Once we got past Alex and Grant’s initial answer of cake, we were able to come up with some ideas we think parents will really appreciate.

While we probably won’t ever know for sure what would happen if kids ruled the world, inside a Monkey Bizness might provide a little peek. 

If you are interested in helping continue our mission of helping families be happy and healthy in your community by starting your own Monkey Bizness, contact us now.

The Benefits of Local Businesses Giving Back

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Philanthropy has always been an avenue that helps give small businesses a sense of purpose.  Not only does it help increase employee productivity and job satisfaction, but it also has been shown to have an impact on the bottom line for businesses.  Most importantly however, it is important for small business to give back to their local communities to the causes that are important to them.

Monkey Bizness prides itself on working with organizations, schools, and non-profits in our local communities.  Every year as the holiday season approaches, we debate on whether we should do something special because we know that this is a busy time for most families.  This year our team wanted to come up with a way that we could partner with our customers to give back to the community.  From this, A Wish for the Season was born (funny side note…..our team literally came up with the name after discussing Hallmark Christmas movies). 

With A Wish for the Season our customers could nominate one family that had fallen on tough times to receive a free party and one year of unlimited free open play.  This was the first time we had done anything like this so we were unsure of what the response would be.  Our franchisees jumped on board immediately and loved the idea.  We ended up giving away 4 different prizes so that customers of each store would have a chance to nominate a winner. 

The results from A Wish for the Season were overwhelming.  In just the two weeks which our nominations were opened, we received over 650 entries.  We received multiple emails and calls from customers inquiring about the event and thanking us for doing something like this.  Further, we had other local partners in our community offer to throw in additional prizes for our eventual winners.  In short, the response was AMAZING!

I would be remiss if I didn’t at least touch on some of the business success of this story.  Perhaps the most successful was our Colorado Springs franchisee who ended up having a story published in the front page of the business section of the local paper.   While this is awesome on it’s own, the best had yet to come…..the local Fox station wanted to do a feature segment on the business.  Not be outdone, the local ABC affiliate Kansas City wanted to do a feature segment on our franchisee in Shawnee Mission.  The story was also picked up by multiple newspapers and bloggers in the Denver and Kansas City areas.  What amounted to thousands of dollars of exposure in our local communities was being received for free.  This publicity did not come about without hard work…our marketing team put together a brilliant public relations strategy to go along with this campaign.

While publicity was not the purpose of the campaign, it does illustrate some the business reasons for small businesses to strongly consider their philanthropic approach within their communities.  According to the website Causely, studies consistently show charitable donations and corporate sponsorships have a positive impact on the bottom line through increased sales, improved consumer loyalty, employee morale, and enhanced brand awareness.  Further, the website states that 90% of U.S. consumers say they would switch brands to one associated with a cause. 

Every business has a mission unique to it.  Small business should use that mission to help them identify avenues which will help them be more ingrained in the community and truly become a local business.

Monkey Bizness has franchise opportunities available throughout the United States.  If you are interested in pursuing your business ownership dreams with Monkey Bizness, please reach out to us.

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Five Reasons Monkey Bizness is Super Charged for 2019

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One of our core values at Monkey Bizness is innovation. We have a firm belief that if you aren’t innovating, your standing still. Businesses that stand still often have troubles competing for customers that are left wanting more. This December marks my third-year anniversary of owning Monkey Bizness. Every year I have learned so much about how to make this business more successful and stronger.

As we look forward to 2019, I firmly believe that we are positioning Monkey Bizness as a premier brand for kids and parents. Our vision is to help create happy and healthy families in our communities and I believe we need to help owners create worthwhile and strong businesses that can support them to do that. Below are five initiatives we have undertaken in 2018 and will continue to push us forward in 2019.

  1. Focus on How Kids Play – We have done a lot of research by talking with professionals and surveying our customers in 2018 and we believe we have identified 6 themes of kids play. Armed with this information, we have started to update our current centers to meet the demands of our biggest customer…kids. We have also begun to identify equipment and vendors that will help us bring back more customers more often.
  2. Focus on Initial Costs – Opening any business that requires a storefront is an expensive endeavor. We have run into too many franchisors that don’t’ spend their owner’s money like it is theirs. Expensive finishes and strict design guidelines are just a few of the things that end up costing their owners big dollars. At Monkey Bizness we continue to work both internally and with our architect to better design the Monkey Bizness footprint. One of our goals is to help our owners open up a beautiful store for as low as cost possible.
  3. The Correct Marketing Plan – I talk with a lot of owners about how they market their business and the unfortunate truth is a high percentage of them waste a lot of money on marketing. Marketing can be a double-edged sword because it is very necessary but businesses can waste a lot of money. Through trial and error, extensive customer surveys, and working with marketing professionals, we believe the Monkey Bizness marketing plan is both cost efficient and customer effective. We are using our technology and customer data more than ever to market directly to our customers and target audience.
  4. A Team Built to Help Owners Grow – In 2018 we invested a considerable amount to grow our team and add resources that will help future owners. I am proud of the Monkey Bizness team and excited about the potential value we bring to new owners. The team includes individuals with 10 years of small business consulting experience, building a brand from 1 unit to over 100 units, and an overall passion for this brand. Most of all, this team is made up of individuals who are customers of Monkey Bizness. All of us have children between the ages of 3 and 15. This makes us even more passionate about staying true to our brand and listening to our customers.
  5. Adapting to Market Trends – We see so many smaller brands that fail to adapt to changing market trends. At Monkey Bizness, we have continued to change and tweak our model for changes with the retail real estate market, parenting trends, and innovations in our industry. We have learned from both our success and failures. The experience we have from these successes and failures will end up providing real dollar value to our next owners.

As the owner of Monkey Bizness, I am so proud of the value we will provide to the next Monkey Bizness owners. I set out three years ago to build a system that would help others realize their entrepreneurial dreams and through a lot of hard work, I believe we have done just that. However, since innovation is one of our core values, we will never be done. We’ll keep improving and helping our owners become more successful and fulfill their dreams.

If you are interested in talking with about starting your own Monkey Bizness, please contact us.

Four Reasons Monkey Bizness Works with Today’s Parent

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No matter what your opinion is on Millennials, there is no disputing that they are today’s parents.  Millennials today are typically 22 to 37 years old and parenting the vast majority of kids under the age of 9.  Dena Daw from mom.com wrote an article this week on 20 Ways Millennials are Out Parenting Baby Boomers and there are some interesting statistics in there about today’s parents.

At Monkey Bizness, we have always thought our awesome indoor playgrounds and devotion to active play appeals to parents today.  Throughout our website, we mention several of the reasons why.  Nothing in Dena Daw’s article in regards to how Monkey Bizness, active play, and indoor playgrounds fit with today’s parent is entirely new (although she does a great job on compiling and putting it all together).  However, we did find several interesting tidbits.  Below are four reasons why the Monkey Bizness model works with today’s parent.

1) Parents Today are More Concerned with Health and Nutrition

This isn’t to say that parents of yesteryear weren’t concerned about the health of their children.  Today’s parent, however, goes beyond looking at food labels and taking daily walks.  60% of Millennials say they try to work out on a regular basis, and 26% consider themselves health fanatics. 60% of moms said they pack lunch boxes differently than the way their own mothers did, largely with more nutritious foods.  Monkey Bizness is devoted to active play.  We offer a healthy alternative that parents can feel good about compared to some of our competitors that use video games and other non-active methods to entertain children.  Our indoor playgrounds are built to keep kids active and our mission of helping families be happier and healthy resonates with parents today.

2) Millennials Value Experiences Over Owning Things

More than three in four Millennials (78%) would choose to spend money on an experience or event over buying something desirable (Harris study). Millennials want to spend their money being with others. Sixty-nine percent of respondents said they believe attending live experiences helps them connect better with their friends, their community and people around the world.  Concepts like Monkey Bizness which gives parents the chance to have experiences with their kids are becoming more and more prevalent.  Once where there was a Radio Shack and a Linen ‘N Things there is now a SkyZone and a Monkey Bizness.

3) Millennial Parents Expect More from Playtime

A survey from The International Play Equipment Manufacturers Association, which was highlighted on Parents.com, found that Millennial parents value outdoor playtime less than parents from previous generations. The study found that 65% of Millennial parents say outdoor playtime is important for children to develop emotional skills, compared to 75% of Gen X parents and 85% of Boomer parents.  Millennials grew up in a time of innovation and new thought.  No longer is there one alternative or right way to accomplish something.  Millennial parents know that it is important for kids to be active but they now have a higher expectation of how that time should be spent.  Monkey Bizness offers awesome indoor playgrounds and a chance for parents to relax and feel safe while their kids play.  And even better, more and more parents are wanting this experience for their kids.

4) Millennials are Selfless Parents

If you talk with 10 different people and ask them to give you one sentence on Millennials, you’ll probably get 10 wide-ranging answers.  However, there is little debate that Millennials are selfless parents.  In a survey by Winnie.com, they identified that the Millennial parent is more likely to say that parenthood is a major part of their identity than previous generations.  Further, due to the influx of technology and social media these generate have had, they are more actively seeking out experiences for their kids.  Parent’s now more than ever before want to have special shared experiences with their children.  Monkey Bizness and its’ indoor playgrounds provide the opportunity for parents to do that.  Coupled with the fact that parents are always looking for affordable options, Monkey Bizness is one of the perfect concepts for parents today.

 

As you can see above, we strongly believe that Monkey Bizness is a strong concept not only for today but as more and more Millennials enter parenthood.  In 2017, 90% of those having children were Millennials and that number will remain high for a number of years.  Based on some early indicators, concepts such as Monkey Bizness that focus on active play will resonate possibly even strong with upcoming Generation Z parents.

If you would like to learn more about Monkey Bizness, we encourage you to contact us now.

A Birthday, a Challenge, and a Metaphor

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When people that haven’t been to Colorado before think of a quintessential mountain town, odds are Manitou Springs will fit the bill.  While just a mere 10 minutes from downtown Colorado Springs, the town has all that would be required.  Its full of small, quaint restaurants, has one of the coziest inns you’ve ever seen, plenty of outdoor activities, and breathtaking mountain views.  My wife and I first visited for our anniversary in June three years ago and spent a night taking in a lovely dinner and drinks with a mountain view.  Three years later for our anniversary, we decided to do it again.  Only this time, my wife had done some research and had decided on a hike to do in the morning.

My wife has so many wonderful characteristics, but directions and reading maps are not one of them.  As such, we found ourselves doing the Manitou Incline instead of the trail she had planned.  The Manitou Incline is not a long trail (just .88 miles) nor does it take you up to some of the higher elevations many other trails in Colorado will (just 8,600 feet). However, what the Manitou Incline is known for is the kind of hike it is.  This hike rises 2,000 feet in that short distance and is essentially a straight staircase up a mountain.  While the hike offers sweeping views of the front range and Colorado Springs, the 2,744 stairs make this an incredible fitness challenge.

Being it was the night after our anniversary, neither of us had properly prepared for this journey.   That is unless you consider a bottle of wine and fondue dinner the night before adequate preparation.  As we started the trial, my wife told me a number of times “I am not up for this, I am just warning you that we need to turn around at some point”.  I don’t blame her, it’s not that the trail is just brutal, but also that you are staring straight up at the couple thousand steps you have to conquer the entire time.  Never the less, I knew that I wanted to do the entire hike and that she would as well.

Due to the nature of the hike, it helps to have two people.  They can continually push each other and as one starts to doubt if they can do it, the other can provide encouragement.  As the hike goes on, there is less and less discussion and your left more to your own thoughts.  As I did this hike, I started to realize how much this hike relates to being an entrepreneur.  The parallels kept going through my head and I was determined that I was going to conquer this mountain.  Step by step, in my own mind, I was conquering business issues.

This hike is incredibly grueling.  About two thirds the way up there is a “bailout” point where you can take an easier trail back down.  Up until that point, you are constantly seeing people come back down the trail that decided enough was enough.  By my own, completely unscientific calculation, only about 5% of the people out there would even attempt this.  Only about 2.5% of people will succeed in doing this hike.  These numbers correlate over well to the entrepreneur world where many won’t attempt to start their own business and of those that do, a lot won’t succeed.

You’ll be around a dinner table and tell people about this experience and you’ll hear “I would love to do that someday”.  That is as close as most people will get.  Not that completing this makes you some sort of superhero.  However, it takes determination, hard work, and will to start and finish this challenge.    It’s hard.  Just like being a business owner, many people love the thought of it, but few try it.

As you go along this hike, self-doubt starts to creep in.  There is an option to “bail out” and you can always turn around before you get too far up the hill.  It’s easy to turn around, look at all those other people doing it.  How many entrepreneurs that you know don’t fully invest in what they are doing?  They tend to put one toe in the pool to gauge the temperature.  There are many that start up the hike that say to themselves, “I will go this far, and if I don’t like it, I will just turn back around”.  With that attitude, I would argue they will never make it to the top.  This is much like the entrepreneur who doesn’t fully commit and invest the time needed in their venture.  They are starting out already planning what happens if I don’t succeed rather than telling themselves no matter the issue they encounter, they will work through it.

As you go up, you get energy from others.  This hike is not filled with 20-something well-conditioned fitness junkies.  One of the great things about it is it is filled with many different types.  On this day, there is a group from Idaho with the youngest being in her late 40’s.  There are two mothers with there 3 kids all trekking up the mountain.   We would continually pass each other as the groups would alternate stopping for a quick break.  We bonded with these people, joked with them, even if it was only for the 60 minutes of the hike.  This is not unlike the need for entrepreneurs to be able to talk and discuss their issues.  After all, only those on the same journey can truly understand what each other is going through.

Four months later, my wife asked what I would like to do for my birthday.  It was a no-brainer, I wanted to do the Manitou Incline again.  For me, each step near the top is hard, but it is a metaphor for conquering something.  It might sound corny, but each step is me conquering issues as they are in front of me.  Many don’t have the stomach for employee issues, dilemma’s due to growth, or the rejection you face as a business owner.  However, none of these issues are insurmountable.  Just like the hike, most can be dealt with one step at a time.

Just like reaching the top, accomplishing a business goal is a special feeling.  Starting a business is not the pinnacle for everyone.  People have different goals in life.  However, being an entrepreneur is tough, scary, and there will be self-doubt.  But, just like the Manitou Incline, those that stick with the journey and don’t worry about failing or turning back are those that will be successful.

If you are interested in learning more about starting your own Monkey Bizness, please reach out to us.

Four Considerations for Small Business and a Changing Facebook

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Monkey Bizness franchisees, like most small business owners, utilize advertising on Facebook.  The reasons go far beyond the number of users on Facebook or any other broad statistic that you hear in the press.  We utilize Facebook because of the ability to target the demographics that make our customer base.

Based on our research and analysis of competitors big and small, we don’t believe most companies have figured out how to fully utilize Facebook.  Quite frankly, small business owners are the probably the furthest away from figuring Facebook out.  Never the less, advertising on Facebook can be so effective that it negates some of these things.

However, there have been some disturbing trends lately that should be catching small business owners attention.   Citing data from Nielsen’s digital content rating solution, Brian Wieser, a senior analyst at Pivotal Research Group, said in a research note that the amount of time people spend on the company’s main social network has declined by around 7% over the last year. Worse, a separate Pew Research Center survey found that nearly half, or 44% of people in the 18 to 29 age group say they have deleted the app in the past year.  Further, 42% of people have said they have taken a “several weeks or more” break from checking their Facebook page in the past year. Heck, 26% of people have even reported deleting the app from their phone.  Do you see a trend starting to develop?

In comparison, Google saw a 10% increase in digital consumption.  All is far from lost for Facebook as subsidiaries such as Instagram, WhatsApp, and Messenger all increased in capturing users attention.  No wonder Facebook has been pushing ads on all three platforms heavily over the past few months. And don’t discount Facebook too much as 23% of all ad revenue in 2018 is expected to be spent on its’ platform.

Still, due to a combination of privacy changes, stagnant user growth, and almost negative growth with the population under 25, some small businesses are left trying to figure out if the platform is still the best place for them. Here are 4 considerations for those small businesses contemplating the problem.

1.       Stick with Facebook – Despite all that I said above, Facebook is still a powerhouse when it comes to being able to reach your customers.  The demographics and targeting are not as powerful as they were a year ago (thanks to Facebook excluding third-party data now), but it is still more powerful than any traditional advertising medium.  And, while Facebook’s younger user base may not be growing as fast, you must remember that you can still advertise through their audience network, which includes mobile app ads and ads on other sites.  Lastly, it is still a bargain.  For as little as $5 you can reach up to 1,000 of your target demographics. 

2.       Look at other platforms – Face it, your users may be using a different platform other than Facebook.  If you have a younger demographic, Instagram might be great for you.  For Monkey Bizness, we are trying to reach younger moms with children between ages 1-9 years old.  We are trying to identify different platforms where these moms hang out including sites like Nextdoor. For the product you are selling, my guess is that there are social platforms that your demographic frequents.

3.       Use Influencers – Skip the advertising altogether and utilize a social media influencer.    A Social Media Influencer is a user on social media who have established credibility in a specific industry. A social media influencer has access to a large audience and can persuade others by virtue of their authenticity and reach.  Start to engage with them and see if you can use their reach to spread the gospel of your product or service.  We won’t go into how to accomplish this strategy (do an internet search or read Gary Vanderchuk). While this probably won’t be free, it can be a great way to reach your demographic if you know that they follow a certain personality.

4.       Privacy Proof Your Facebook Page – This might be close to item #1, but hear me out.  At Monkey Bizness, we have been able to build up a good following of our customers.  At one of our new locations, we have built up a following of around 2,000 users just a few months after being open (and still growing).  We continue to run campaigns specifically at attracting customers to like our page.  By doing this, we can build up our organic following.  This way our normal posts are reaching a higher number of people.  If one of those people interacts with us or likes what we posted, then we can reach just as many people with a normal post as with a $5 or $10 ad. 

 

No matter what you choose, the one constant is you must be pushing out good content that people want to see.  That’s a whole different blog post, but hopefully, this gives you a good idea of some strategies to take to address the ever-changing Facebook.

To learn more about franchising with Monkey Bizness, contact us now.