My Favorite Business Rankings - Entrepreneur

 I forgot this one - Franchise Ranking

In economic development, one of the most common business start-ups is the franchise.  Entire courses in community colleges are centered on franchises.  It is one way to jump ahead when starting a business. 

You will know many of the franchises on the list. And you may be surprised by some of the franchises.  The list is capped at 500 out of approximately 1,100 firms. Yes, I know, I too was surprised at the number. 

I was most impressed by the section titled, “Fine Your Franchise”.  It has 12 groups you can review to find one or more you may have an interest in.  A couple of the categories are business services, food and beverage, maintenance, retail, and recreation.  This is only a few.  The next section is a series of questions designed to help you narrow your choices. 

This is a very detailed and well researched ranking.  Please read the blue tab labeled “Jump to Franchise Overview”.  This is invaluable as it lets you compare franchises.  A summary of the key sections of the Franchise 500:

-Business Overview

-Financial Requirements and Ongoing Fees

-Financing Options

-Training and Support Offered

-Operations

Each franchise must currently be searching for a franchisee and have a minimum of 10 new franchises opened with one in North America. Franchisers are given the choice of filling out a form or submitting a current Franchise Disclosure Document (FDD). It is an impressive list. 

In addition, the ranking includes excellent write-ups of each franchise. Generally included are initial investment range, number of units, why you may want to start an individual franchise, why this franchise, how to open one, and an excellent company summary.

This is an informative and fun list.  Link:

https://www.entrepreneur.com/franchise500

GovFest and Prince William County Services

 Late last year (and in the bitter cold) the County executive team sponsored the Employee Connection.  This event had approximately 30 County departments showcasing their services and it was a lot to take in.  This is a pretty impressive program for the simple reason that I think most people have no idea what a County does. That includes me and other employees.  Thirty County departments!  That seems like a large number. 

First, some perspective.  The County employs approximately 5,200 people. If you look at the revenues and expenditures of the County, it ranks in the low 800s of the Fortune 1,000 list.  That is a major corporation by any metric.

Now back to the main thrust of the post.  Based on the department phone list that was emailed out in late January, I count between 35 to 40 departments.  The exact number is difficult for me to determine since some departments are in a larger division. Of course, you know several of them. Examples are public works, permitting, planning, economic development, police, fire response, parks, finance, library, budget, and tourism. These are the standard services you find offered by most local governments. 

But did you know the County also has departments for environmental sustainability, DEI, aging, housing, veterinary services, and human rights.  It is an impressive list of services for citizens. 

If you are interested, take a look at the County annual report.  It is the type of good news document that you would expect.  Please note that I am not a County “cheerleader” in any respect.  The report highlights accomplishments and considerable data. You may notice a couple of items. For example, the formation of new departments/offices. In government, when in doubt, form a new office.  Also, in my opinion, business and government often confuse processes with outcomes.  For example, stating that you had five meetings with 100 total attendees is a process. What is the outcome?  Most of the time it goes unanswered.  (these two observations are for another post)

However, it is an impressive (and highly readable) document if you wonder what all 5,200 of us County employees do. I suspect each citizen thinks about their needs (or not) and do not realize the comprehensive services offered by their tax dollars.  You can read other County publications like the budget (and accompanying justification) which is dense and lengthy, invaluable if you enjoy it.  In my opinion, the County annual report is a unique vehicle for all citizens to better understand their local government. 

Prince William County County Executive Year in Review by pwcdpr - Issuu

Business Cards –Declining in Use, but Not In Value

 I love business cards. I love to give mine out. I love to receive one in return (or not).  I love to place select ones in my handsome business notebook.  For me, I think people make a stronger impression on me if I get a business card.

Business cards offer a clue or two about the individual and the business.  Examples for the business, are the letters raised? Is the card stock thick? Can you write on the card?  Is the logo prominent?  Is the card one or multi-colored? 

For the individual, do they use a formal name?  Do they include certificates earned? Is the title prominent?  Does the title make sense to people outside (and often inside) an organization? 

One interesting question. Is a cell phone number listed? A few years ago, most people chose not to include their cell phone number.  I think today almost everyone does. I say that with this in mind.  In reviewing cards from staff with Prince William County government departments, very few include the cell phone number. That is a question for another blog.

From my observations, business cards are declining in use.  I recently attended a new advisory board meeting. Except for me, no one had business cards readily visible or gave one out.  Instead, the staff of the advisory board included LinkedIn profile links as part of the welcome package. 

This is a link to an article about business cards and how to design it for maximum impact.  The author and I agree on the value of a business card and he includes points I missed.

https://www.entrepreneur.com/article/379699

As noted above, I suspect that business cards are on the way out.  The main reasons are in an increasingly paperless society, they simply take up room. It is far easier to maintain a contact list in Outlook. Finally, I think LinkedIn is the new business card, even though it can be too much information. 

Yes, I do and will miss business cards.

“Franking Up’ my Business Attire

The title is based on a commercial for Franks’ Red Hot. You have likely seen it, some hapless soul starts to eat a hotdog and the person standing next to him pushes the hot dog out of the bun and says, “You got to frank it up!” This means add Frank’s Red Hot sauce on it.  I laughed as I typed this, the commercial just makes me laugh.

Now to the real purpose of this post.  In January of each year, I decide to lose weight. My most recent annual goal has not been met, but I do not choose to lose weight.  Hope springs eternal each new year.  That does not stop me from trying.  One key point about losing weight I have always known: only you can decide.  No one can make you or decide for you.  You are responsible for your actions (by you I mean me).

My wife signed me up for Noom.  This is not an endorsement, but rather an observation on a tool, one of many available.

In the past, I got tired of logging what I ate and what I weighed.  Noom, and I am sure other apps, make it easy.  Plus, you can see an analysis of what you ate that day.

This makes me think about the choices I have every time I think or want to eat food.  That is the most valuable part of the app. Yes, I read something every day about tips/help on weight loss and I weigh in every day.  Noom does offers hints and encouragement, but to me the most important aspects of the app are the calorie counter and the analysis of the food I eat.

Why is this important to me? Well, I used to wear jeans and golf shirts to work. This was perfectly acceptable in the workplace.  For me, I only want to wear nicer clothes if I do not look and feel so big.  Since I have used Noom, I have lost weight, and I am wearing nicer clothes to work (slacks and button-down shirts).  I feel better in countless ways. Perhaps most importantly, I like to see me in nicer clothes.

You can talk to me all day about the health benefits of losing weight. I know every one of them.  It finally took an easy tool to force me to think about my choices at every meal; and my desire to wear my nicer clothes.  Go ahead and say it and I certainly admit it, I am vain.  But if that helps motivate me to lose weight, it cannot all be bad.

My New Gift – Gadget Overload

Gifts can be great.  Gadget gifts can be great and fun.  For example, my family recently bought me a new watch. I have not had a watch for several years; I usually use my phone. In hindsight, I missed not having a watch.  It is so much easier than trying to hide the fact you are looking at your phone. More on this later.

First, some background. My father enjoyed gadgets and James Bond movies.  He bought me a Casio calculator when I was in high school (see picture). It still works.  I was one of the first students in my school to have one.  As I grew older, he continued to buy me cool gadgets, like the watch that was also a calculator.  You could even play a game on it (see picture).  Now it is important to remember, that was back in the 70s or over 45 years ago. 

And now to today.  My family did not buy just any watch, but a James Bond watch!   You can see it here. It looks like an ordinary watch, but it is not. I can call people, read and send texts, read and send emails, access the internet, use it as a stopwatch, etc.  Just like James Bond!  Quiet, I hear the music queuing up now.

Of course, I cannot shoot anyone, blow up a building, stun an enemy, or other key Bond needs. So, it is not perfect.

Oh yeah, it also can track my steps, tell me how my sleep was, tell me my stress level, measure my blood oxygen, etc. My family tells me that is why they bought me the watch. No surprise.  I like it because it is the watch James Bond would have.

First, I need Q to show me how to use it. It is complex. Then, I need to buy an old Auston Martin and then a Walther PPK. It would be my first sports car and gun.  Again, Q would need to show me how the car works. My son can show me how the gun works.

As noted earlier, gifts are great as are gadget gifts. Dad, you would be pleased with this gadget gift.  As for my family, are you reading this?  I see a classic car and gun in my (likely) distant future.

Virginia Business

 Most states and metro areas do something like this.  I really enjoy the Virginia Business editions. These are all listed on the website under the tab “Reports” and includes novel ones like Best Places to Work, CEO Pay, Most Influential Virginians…you get the idea. The various lists are posted in the monthly magazine and usually highlight an industry.  The Excel download is at a cost.  The HTML format lists an abbreviated edition of the top firms.

https://www.virginiabusiness.com/lists/

My Favorite Business Rankings - Fast Company - IV

The World’s Most Innovative Companies – 2020, 2021, 2022, 2023

Most lists are formula bases.  You may see individuals, companies, states, ranked by value, profit, revenues, net worth, etc.  An example is the most innovative state as determined by the number of patents issued to individuals and firms in a state.  We all know the Forbes and Fortune lists.

I think this one is far more complex.  Innovation may truly be in the eye of the beholder. It is a fluid and moving definition. Innovation can change radically by industry and/or individual. The automotive industry (driver less cars) and Elon Musk come immediately to mind.

Of all the rankings, Fast Company’s innovative firms is one of the more fun to read. First, all are innovative according to Fast Company and their judgements (next paragraph). And company size; revenues, longevity, etc. are not really relevant.

The question is are you innovative.  For 2020 Fast Company staff determined innovative by:

“This year (2020), Fast Company’s editors and writers sought out groundbreaking businesses across 44 sectors, including every region of the world. We also judged nominations received through our application process. We assess each company on a combination of innovation and impact, with a focus on what it’s accomplished in the past year. The 434 organizations we honor here lead their fields and are transforming the world.”

Enjoy all four rankings and note the vast differences in the top 50. I see very few parallels. You may find more.  I think you will enjoy the one-line description of why each firm was selected. 

https://www.fastcompany.com/most-innovative-companies/2020

https://www.fastcompany.com/90603436/the-worlds-most-innovative-companies-2021

 

https://www.fastcompany.com/most-innovative-companies/2022

https://www.fastcompany.com/most-innovative-companies/list