In today’s link roundup, we kick things off with an interesting case study in how Starbucks fumbled, quite expensively, its expansion into Australia.
Other article topics include: is “Big Oil” coming to an end?; how the role of franchisers has changed in the current lending environment; the challenges and opportunities presented by a “lean” startup model; and money management tips for young entrepreneurs.
Whatever Happened to Starbucks? – A Great Marketing Case Study — Australian School of Business
The story of Starbucks in Australia is a salutary lesson in business. It’s the tale of an organisation seeking world domination in its field that stepped into a new market without first testing the waters. What went wrong for the company down under has been analysed in a paper by Patterson and fellow marketing professor Mark Uncles with Jane Scott, also from the Australian School of Business.
The end of Big Oil? — CNNMoney
How the break-up of ConocoPhillips could lead to similar moves by oil conglomerates like BP and Exxon Mobil, forever changing the energy landscape.
Franchisers Focus on Loans — Wall Street Journal
Before small-business lending dried up in the wake of the financial crisis, franchisers rarely got involved in franchisees’ efforts to get loans. Franchisees were usually able to get financing on their own. But today, small-business lending is weak, and banks have stiffer lending requirements.
“Helping franchisees access financing wasn’t a franchiser function a couple years ago,” says Shelly Sun, founder and CEO of BrightStar Franchising LLC, which provides home-health-care services and staffing. “Now it’s job No. 1.”
Embrace the Lean Startup Model — BusinessWeek
The lean startup model eliminates waste and focuses on customer feedback to build a product or provide a service that people want. The model requires business owners to focus more on knowing who their customers are and understanding how they’ll attract and maintain them.
Given the success of small business owners who have used this model to grow their businesses quickly, it’s become a popular model for budding business owners. However, there are still challenges entrepreneurs should be aware of when following the lean startup model.
Seven Money Mistakes Young Entrepreneurs Make — Entrepreneur.com
Keeping track of your personal finances and launching a business is doubly challenging. Here are a few mistakes young business owners make with their money.
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