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How to Overcome Being Told “No” as an Entrepreneur

HOW TO OVERCOME BEING TOLD "NO" AS AN ENTREPRENEUR
 March 12, 2024 |  Business Tips |  , motivation, entrepreneur

By Kimberly Stevens, NPI, Inc.'s Marketing & Business Coach

The most successful entrepreneurs are self-motivated, innovative, and ambitious. Their minds are focused on expanding their services, broadening their territories, and putting a stamp on their industry that will effect positive change. New business owners rarely imagine hearing the word, “No.” But the hard truth is, rejection in any sales endeavor is inevitable, and it will happen more often than many expect.

Every small business owner needs to develop sales skills if they want to achieve their aspirations, and the first (and maybe most important) sales skill to learn is how to handle the word, “No.” To get started on becoming a salesperson extraordinaire, here are a few truths to keep in mind!

Understand What “No” Really Means in Sales
Often, when people face rejection after giving a “sales pitch,” it can be natural to take that rejection personally. But in reality, rejection is almost never personal. In sales, a “no” can mean many different things, and this is only rarely related to your delivery. Here are a few common translations for the word, “no,” in sales:

“I don’t understand.”
The first common translation for an unsuccessful pitch is that the concept of your product or service doesn’t make sense to your prospective client. Whether due to a lack of clarity on your part, or a lack of background understanding from the potential client, misunderstandings can happen for many different reasons, and they can be a core reason for bringing the deal to a halt.

This situation can certainly be frustrating, but as an entrepreneur, losing out on business due to misunderstandings presents a valuable opportunity to improve. In these instances, take the time to reflect and refine your pitch based on where the miscommunication may have occurred.

Did you stick to your script too much? Practice more active listening!

Were you too rushed in your delivery? Slow down and simplify!

If you haven’t taken the time to examine your communication style yet, now might be a good moment for some introspection! Are you extroverted? More introverted? Somewhere in between? Learn about your communication style with a DISC analysis, and improve how you relate to other people. If you haven’t taken a DISC assessment yet,shoot me an email!

“I don’t see how this is applicable to me.”
Some people may understand the concept of your service, but if they don’t see its importance to their situation, they’ll likely opt to save their money instead. In these situations, you can improve your pitch by bolstering your information and researching more evidence to bring to the table.

If you’re pushing a new add-on service that’s either new for your clients or new to your market as a whole, you’ll need to rely on details about how your service adds value to the customer. Some evidence worth gathering includes:

1. Hard Data - Numbers, percentages, and statistics all appeal to the analytic side of a person’s brain. Bringing this into your conversation also shows that you are well-researched on the topic, and it bolsters your standing as an expert.
   Note: If you bring data into the conversation, be sure to have a good understanding of the study that you’re referencing, as well as the source! Expect follow-up questions. One great way to shut down a deal is to exaggerate a stat, or overemphasize your data. Clients who are knowledgeable about the topic will not appreciate inaccurate information.
2. Appeal to Authority - When thinking of an appeal to authority, you should already be an expert in your field, but you may need to establish this trust with a new client unfamiliar with your work. In this situation, you should reinforce your claims by pointing to recognizable sources with widespread credibility. In the field of property inspections, look at groups like the Environmental Protection Agency (EPA) or the Center for Disease Control (CDC) as a couple examples. Both of these groups consistently conduct or cite new studies worth pulling from!
3. Tell a Story - Finally, consider telling a story about a previous client who ordered the service you’re recommending, and why they had a good experience. People respond very well to anecdotes, and perspectives outside of your business can help solidify trust (that’s also why stories are great for social media!).

“I do not need this service.”
After you consider these underlying reasons why you didn’t book the job, consider the possibility that your services may not be the right fit for your prospective client. No matter what you do or say, there are some people who simply will not benefit from your product or services. In this instance, it’s better not to expend unnecessary energy trying to find business where there is none.

In the property inspection world, this may come up when trying to push various add-on services like radon, mold, or termite inspections. Homeowners may have confidence that an add-on service doesn’t apply to them and, in that situation, learning when it’s time to move on and direct your attention towards leads that will be more receptive to your offerings is an important skill that every business owner needs to develop.

When it comes to real estate agents, however, we know that every one of them needs our services. For them, “no,” will probably mean that they already have an inspector they are satisfied with, and they aren’t necessarily looking to move away from that partnership. In that situation, it’s again important not to take that rejection personally!

Instead, make yourself available to them as a back-up. Let them know that if their main option is ever on vacation, if they’re sick, or if they’re booked solid, that you’d love to get their business! You can get your foot in the door then and show your quality of work when the opportunity eventually comes. Dealing with rejection can be tough, but remembering the opportunities that come with every “no,” will mean you’ll be hearing “yes” a lot more often in the future!

Gear any early rejection into valuable lessons to improve your business and set yourself up for success in the future! One crucial way to establish value in a service is through professionally-designed marketing collateral (like brochures, booklets, and business cards). You can learn more about your available materials by reaching out to your NPI marketing team!

Want to learn more about opening your own National Property Inspections franchise? Get your free info packet today!

About the Author
Kimberly Stevens, Marketing & Business Coach
The baby of eight children, Kimberly learned quickly to master the art of communication in order to be heard. She has been with NPI for more than 15 years and is passionate about getting to know our franchisees. Kimberly is a certified marketing and business coach, trainer and speaker, leading training seminars, one-to-one coaching and more. She's a high-energy, fiery red head and an eternal optimist. Her greatest joy is celebrating our franchisees’ victories!

Print Marketing 101: 6 Types of Marketing Collateral and When to Use Them

PRINT MARKETING 101: 6 TYPES OF MARKETING COLLATERAL AND WHEN TO USE THEM
 March 5, 2024 |  Business Tips, Marketing |  small business, business growth, money management, networking, entrepreneur

By Melisa Rana, NPI, Inc.'s Graphic Designer

Across industries, experienced marketers know how important it is to practice omni-channel marketing to find success and grow consistently. This means finding your audience wherever they are and delivering your message to them in many different ways. Businesses that rely only on digital marketing will begin to feel impersonal and distant, while marketers who focus solely on in-person interactions spread themselves too thin and miss out on opportunities to stay top of mind.

The most effective marketing plans employ multiple campaigns and various diverse strategies to foster business, ongoing referrals, and loyalty with their key customers. Because of this, no business should expect to reach their long-term goals consistently without a selection of well-designed, attention-grabbing marketing collateral.

From posters to brochures, flyers, and door hangers, it can sometimes feel like there is an endless list of potential physical marketing materials to invest in. But to achieve the best possible return on investment, it’s important to understand how each material differs and in which situations they excel. With all that said, let’s discuss some of the most popular and effective print marketing materials, and when to use them!

Brochures Pack a Big Punch in a Small Package
One of the most recognizable and well-regarded types of print collateral, brochures and ubiquitous in the marketing world—and there are good reasons why that’s the case! Brochures are very likely the most versatile type of print marketing material because they can be used for so many different subjects, and they can be distributed to potential customers in so many different ways.

The most classic version of a brochure is the trifold—a single sheet printed with images and copy on both sides, folded into thirds to allow for a natural break-up of content. Brochures really shine when it comes to conveying a large amount of information on a particular service or product in situations where you may not have enough time to explain it yourself. With brochures, interested consumers can delve deeper into the specifics of a service when they have time, and it frees marketers or business owners to build relationships at networking events.

If there is any slight weakness for brochures, it’s that they might not be the best “first touch” marketing material that a customer comes across. Brochures perform best when the customer is already familiar with the product or service, and they need that extra bit of detail to make their purchasing decision.

Brochures are great for: leaving at displays, handing out at networking meetings, or sending through a direct mail campaign.

Flyers Catch Your Eye Quickly
The other most recognizable form of print marketing has to be the flyer. Designed to grab attention and be easy to digest at a glance, flyers separate themselves from brochures in that their focus is much more on an artistic layout meant to hook in an audience. With flyers, the challenge for graphic designers and copywriters is to keep information brief and leave their audience wanting more, while providing enough to make them interested.

Common features that can contribute to an impactful flyer include a bold title, a surprising fact, or an appealing graphic. Flyers are a great cost-effective option for first contact marketing and can make great use of QR codes for anyone looking to learn more.

Flyers are great for: introducing a new service, educating an audience, or making a special announcement.

Booklets Explore the Business In-Depth
Where flyers might be described as brochures with less detail, booklets sit firmly on the opposite end of the spectrum, describing and expanding upon a business’ history, service customization options, and full product catalogs. Most print marketing materials are fairly cost effective, especially when printed at larger quantities, but booklets tend to be a larger investment in anticipation for a larger return.

Booklets shouldn’t be designed for campaigns that are expected to come and go. Rather, they are ideal for long-term clients and referral sources, particularly in businesses with a long list of products and services, or special products or services that ask for a larger investment.

Booklets are great for: long-term clients, referral sources, businesses with a long list of products and services, and special products or services that ask for a larger investment.

Business Cards are a Classic Essential
If there is only one print marketing material that can be called “essential” for entrepreneurs, that item has to be the business card. Business cards are extremely compact, designed to be easily dispersed and stowed in a pocket or wallet in hopes for future conversations. With limited space, business cards need to stick to the basics while maintaining a clean, professional, and hopefully still memorable look.

A name, title, phone number, email, logo, and headshot are usually plenty of information that easily fills a business card, with some extra room to include things like company mottos, QR codes, or a basic list of services. A business owner with a sharp business card in hand gives off an impression of professionalism, credibility, organization, and preparation that can all be otherwise lost without one. Seriously, being caught in the wrong situation without a business card can mean losing out on an opportunity to take your business to the next level!

Business cards are great for: every situation, but particularly at open houses, conferences, trade shows, and random encounters.

Getting Your Message Right to Their Doorstep with Door Hangers
Services or products that cater to a specific area or demographic can leverage the unique power of door hangers. While not as versatile as some other options, door hangers are hard to miss and incredibly effective when the offer resonates with the homeowner.

Door hangers can advertise new local business services or products with special promotions, include attached business cards, and even utilize QR codes to capture leads. To maximize return on investment, marketers should target untapped audiences most receptive to this strategy.

Door hangers are ideal for: targeting a specific area, pairing with a direct mail campaign.

Postcards Leave a Memorable Impact
For business owners with a concise message, postcards offer a highly cost-effective option. Slightly larger than business cards but with smaller than most marketing materials, postcards demand a clear and compelling design to effectively convey their message.

A popular choice for economical product or service introductions in direct mail campaigns, postcards are also fantastic for personalized, handwritten notes and thank you cards. The USPS reports that a surprising 62% of millennials make purchases based on received mail each month, even surpassing Gen Xers. The combination of targeted mail and a handwritten touch can significantly strengthen customer or client bonds with a business owner.

Postcards are great for: personal notes, direct mail campaigns, soliciting referrals and feedback, event reminders.

Print marketing materials are a fantastic opportunity for marketers and business owners to express their creativity. Although this article outlines many of the broader categories of collaterial, don’t feel limited by only these options! Every industry and market is different, and unique, innovative concepts can pay off in dividends. As with most aspects of running an ambitious, growing business, it’s important to experiment and take advantage of new opportunities when they came along.

Learn more about integrating cost effective marketing strategies into your marketing plan, and reach out to the NPI marketing team to collaborate on your next campaign today! Want to know more about how franchisees benefit from a full team of marketing specialists? Request a free info packet and speak with our recruitment team for more.

About the Author
Melisa Rana, Graphic Designer
Melisa graduated from the University of Nebraska Omaha with a B.F.A. in graphic design in 2022. As the team’s dedicated in-house graphic designer, she creates digital and print marketing collateral for NPI and GPI inspectors on a daily basis. With a background in layout design, brand identity, and photography, Melisa also creates visual content for our organization’s three blogs, email marketing campaigns, and social media accounts. She enjoys crafting professionally branded materials so our inspectors can always make a great first impression and stand out from their competition.

From Startups to Industry Veterans: Why You Should Write A Business Plan

CRAFTING YOUR VISION: THE POWER OF A BUSINESS PLAN
 February 27, 2024 |  Business Tips, Marketing, Franchise |  small business, business growth, money management, Google, Entrepreneur

By Sammi Marcellus, NPI, Inc.'s Recruitment Coordinator

When launching a new business, entrepreneurs embark on a demanding journey, defining goals, charting growth plans, and strategizing execution. A business plan condenses these key elements into a streamlined document for investors to assess.

While securing funding often necessitates a business plan, even established businesses benefit from revisiting and updating theirs. Let’s delve into what a business plan is, how to write one, and how each section empowers seasoned entrepreneurs to achieve their ambitions.

Understanding the Business Plan
The format of a business plan varies depending on its purpose. The U.S. Small Business Administration (SBA), a valuable resource for new business owners seeking funding, outlines two main types:

Lean Startup Plan: This concise, one- or two-page document provides a bird’s eye view of a business’s purpose and goals. It might not suffice for securing funding, but serves as a vital tool for entrepreneurs to revisit their goals and adapt their strategies as needed.

Traditional Business Plan: This comprehensive document dives deep into each facet of the proposed business. While requiring more effort, the detailed information and commitment to crafting it instill confidence in investors and provides clear direction for the entrepreneur. Notably, the information compiled in a traditional plan (which can span dozens of pages) likely overlaps with what an entrepreneur already considers crucial for success.

No two business plans are the same, and while the format and order of information should be different based on why the business plan is being written and the industry the business will be part of, there are a few sections that should be included. To get started with your business plan, map out your outline with these sections:

Crafting a Compelling Business Plan: A Step-by-Step Guide
A well-written business plan is a powerful tool for entrepreneurs, both new and established. It serves as a roadmap for success, outlining your goals, strategies, and financial projections. This guide will walk you through the key sections of a business plan, helping you craft a document that secures funding, attracts investors, and propels your business forward.

1. Executive Summary: Your Captivating Introduction
The executive summary is your business plan’s elevator pitch. It’s the first impression you make on potential investors, so it needs to be concise, engaging, and informative. Briefly cover your mission statement, the problem your business solves, the target market, and your competitive edge. Think of it as a mini-version of your entire plan, enticing readers to delve deeper.
Tip: While the executive summary appears first, it’s often easier to write after completing the detailed sections of your plan.

2. Company Description: Standing Out from the Crowd
In this section, delve deeper into your company’s unique selling proposition (USP). Here’s where you’ll detail your legal structure (sole proprietorship, LLC, etc.), location, and key personnel along with their backgrounds and expertise. Existing businesses can showcase their history, awards, and milestones. New businesses should focus on the experience and skills that set them apart from competitors.

3. Market Research: Understanding Your Landscape
Market research is an ongoing process, but a solid foundation is crucial for any business plan. Here, you’ll analyze industry trends, identify your target audience, and conduct a competitive analysis. Determine who your biggest competitors are (USP), what products or services they offer, and their strengths and weaknesses. This analysis will help you carve out your niche and demonstrate the viability of your business model.

4. Products and Services Summary: What You Offer
This section details your core offerings and any ancillary services you provide. Explain the specific needs your products or services address, whether they’re new to the market, and how often customers typically utilize them. If seeking funding, include relevant industry statistics to provide context for investors unfamiliar with your business. Established businesses can use this section to identify gaps in their service offerings and explore potential add-on services.

5. Marketing and Sales Strategy: Reaching Your Audience
The marketing and sale strategy outlines how you plan to attract and retain customers

. While a vast topic, some key areas to consider include:

• Email marketing campaigns
• Strategies for gathering positive online reviews (e.g., Google Reviews)
• Website design and user experience
• In-person marketing strategies (e.g., trade shows, networking events)
• Physical marketing materials (e.g., brochures, flyers)
• Social media marketing plan
• Digital marketing advertisements

6. Financial Projections and Plans: The Numbers Game
No business plan is complete without a solid financial foundation. This section dives into your projected expenses (marketing, equipment, salaries, etc.), loan requests (if applicable) and repayment plans, and anticipated revenue. Accuracy is paramount, so consider consulting a certified public accountant (CPA) to ensure your financial projections are realistic and robust.

Keeping this section up to date years down the road can help owners determine if they are hitting their predicted bench marks and set new goals for further growth. Learn more about managing your money as a small business while still growing right here!

By following these steps and carefully crafting each section, you’ll develop a compelling business plan that positions your venture for success. Remember, a business plan is a dynamic document; revisit and update it regularly as your business grows and evolves.

Writing a business plan can seem like a herculean task at times, but doing the work early on can pay massive dividends down the road! Talk to our recruitment team if you’d like to see a fleshed out example, and learn more about franchising with NPI with a free info packet.

National Property Inspections operates nation-wide and is part of the most respected network of property inspection experts in North America! Visit our FAQ for some insights at a glance.

About the Author
Sammi Marcellus, Recruitment Coordinator
A member of the Nebraska Army National Guard since 2017, Sammi assists the NPI recruitment team through building relationships with military veterans who are interested in franchising. Sammi has a background in customer service and is an asset to the NPI corporate team with her ability to relate with active and former military, guiding them through our recruitment process.

National Property Inspections, Inc. is Now Part of the Co-operators Family

NATIONAL PROPERTY INSPECTIONS, INC. IS NOW PART OF THE CO-OPERATORS FAMILY
 February 20, 2024 |  Franchise |  news

We at National Property Inspections, Inc. are proud to announce our organization, along with Carson Dunlop, have been acquired by Co-operators Group Limited. With aligned goals of serving homeowners and communities, NPI is excited for this expanded reach throughout North America and the opportunity to further innovate the property inspection industry.

“In Co-operators, we have found an ideal partner that brings a wealth of experience, relationships, and resources to drive growth and long-term value for our stakeholders. Our core values are in sync, and Co-operators’ long-term vision uniquely positions us to effectively scale our network and help us live our purpose: to better the lives of homeowners.” - Craig Rowsell, CEO of Carson Dunlop and National Property Inspections, Inc.

Co-operators was originally founded to provide coverage for farmers who couldn’t find protection elsewhere. Today, the organization has grown to become one of Canada’s leading financial services cooperatives, with a focus on multi-line insurance, wealth management, and brokerage operations.

With Co-operators, National Property Inspections, Inc. and Carson Dunlop are looking forward to continuing our mission in serving homeowners and investors throughout their post-purchase story, with Honesty, Integrity, and Professionalism. Combining our commitment to keeping homeowners informed with Co-operators’ assistance to families and communities, our partnership is sure to provide more ongoing support than ever before.

Our growth is a credit to our amazing network of inspectors throughout North America, and our corporate staff at Omaha is happy to deliver the same support to our franchisees throughout this transition with no anticipated changes in personnel.

Learn more about joining the NPI and Carson Dunlop family through purchasing your own franchise today!

Boosting Conversions and Improving ROI with Call Tracking

BOOSTING CONVERSIONS AND IMPROVING ROI WITH CALL TRACKING
 February 13, 2024 |  Business Tips, Marketing |  digital marketing, paid search, SEO, business website, email marketing, Google, Facebook

By Sydney Bailey, NPI, Inc.'s Marketing Director

As small businesses grow, marketing often becomes a more complex endeavor with leads flowing in from many different campaigns and platforms. To find out whether a marketing campaign is cost effective, it’s crucial to track the cost for each lead and each conversion—but how is this tracking accomplished?

For digital marketing, tracking a lead is fairly straightforward. Thanks to cookies and analytics, businesses can know which marketing campaign a lead interacted with to land on their website. But other lead generation avenues aren’t so simple. Many customers still prefer to call service-based businesses to gather more information before making their final decision. Learning how to convert a lead over the phone is an art in itself, but it can be difficult to quantify a lead’s analytics from a phone call.

For entrepreneurs that receive a lot of their business through inbound phone calls, capturing valuable information about which marketing campaigns are pulling their weight—and which ones aren’t—can be tough, but it’s essential when it comes to optimizing an advertising budget. Today, let’s discuss the best solution to this issue: call tracking.

What is Call Tracking, and How Does It Work?
Call tracking helps determine which marketing campaigns bring in the most leads and contribute to sales. By assigning unique phone numbers to each campaign (Google Ads, Facebook Ads, etc.), businesses can track and identify callers associated with specific campaigns. Call tracking software even utilizes "automatic phone number replacement" to match the campaign's unique number on your website, reducing confusion. While most digital ads are monitored for efficiency (pay-per-click), call tracking goes further by tracking conversions and contacts from any marketing effort.Many software packages offer features like call recording, caller information collection, and cost-per-lead statistics, letting you assess each campaign's effectiveness.

One common concern with call tracking is the use of different phone numbers in advertising and its impact on search ranking. Businesses want consistent contact information for optimal SEO performance. Does call tracking impact SEO when used this way?

Does Call Tracking Impact SEO or Cause Client Confusion?
Boosting a business website in search results can be tough (which is why some businesses resort to unethical tactics for quick improvement). Building up a business’ online discoverability the right way takes time and plenty of hard work, so it’s understandable that business owners might be a bit overprotective when it comes to making changes to their website. Rest assured, call tracking is not known to negatively impact SEO.

According to the industry experts in Google Business and SEO strategy at Sterling Sky, Google’s bots don't see dynamic phone numbers. While a call tracking software will replace the business phone number that website visitors see, Google will still see the business’ official phone number in the website’s code, allowing the site to retain the consistency crucial to good SEO. As with any digital marketing strategy, there are problems that can crop up if things aren’t done correctly, but a negative impact to SEO shouldn’t be a concern for businesses looking to give call tracking a try.

Client confusion, on the other hand, might be a more valid concern, though minor. In situations where customers encounter multiple business phone numbers and record them for later use, there is some potential that this competing information could make them look elsewhere. Fortunately, as smart phones become more prevalent, people are less likely to record or recall business phone numbers from memory. For most marketers, the benefits of call tracking software vastly outweigh the potential drawbacks.

If you’re thinking about giving call tracking a try but would like to know more about the pros and cons, email the marketing team! Did you know that every NPI franchise gets unlimited access to our full marketing team for custom materials, messaging, and informed marketing advice based on your unique situation and national trends? Learn more about the benefits of opening an NPI franchise today!

About the Author
Sydney Bailey, Marketing Director
Sydney specializes in creative marketing strategy and project management. In her current role, she leads the NPI marketing department in implementing new initiatives to increase business for franchisees in our network. With experience in art direction, public relations, and brand development, she also served as the organization’s in-house graphic and web designer during her first five years with NPI. Sydney continues to support our franchisees on a daily basis with their overall marketing strategy needs.

Franchise Financing: Starting a Small Business with an SBA Loan

FRANCHISE FINANCING: STARTING A SMALL BUSINESS WITH AN SBA LOAN
 February 6, 2024 |  Business Tips, Franchise |  small business, money management, entrepreneur

By Sammi Marcellus, NPI, Inc.'s Recruitment Coordinator

Every great journey starts with the right tools, and for most entrepreneurs, that key tool is financing. While self-starting hustle and innovation are essential, even the best business plan can stall without capital. This is where SBA loans come in. Acquiring a loan through the SBA can be a great option for small business owners looking for that initial capital needed to franchise or otherwise start their business venture. To better understand if an SBA loan is right for you, let’s discuss some of the essentials.

What is an SBA loan?
An SBA loan is a specialized loan provided by partners of the US Small Business Administration. For entrepreneurs that have exhausted other options, an SBA loan can be the answer they’ve been looking for to cover the early costs needed to start a new business or expand their business. SBA loans are a great option for many because of their lower rates and the option of long repayment periods, but not all SBA loans are the same. It’s also not a guarantee that everyone gets approved for their desired loan.

SBA loans vary from person to person in part because the SBA doesn’t give out loans themselves. Instead, the SBA partners with a wide network of banks, credit unions, and other third-parties who ultimately set the terms of the loan. The good news is that borrowers can compare different lending partners through the SBA’s Lender Match tool to find the best terms for their unique situation, allowing entrepreneurs the opportunity to search for the right fit.

What Are the Benefits of Getting an SBA Loan?
SBA loans benefit from low rates due to their imposed interest rate caps and favorable repayment terms, which can reach up to 25 years. There are a number of different types of SBA loans, some that can offer upwards of $5 million dollars in capital, but the SBA Microloan which maxes out at $50,000 is one that matches up well with franchise start-ups.

While applying for an SBA loan can be time-consuming and require gathering diverse information, the process itself offers valuable benefits for any small business owner. Think of it as a built-in checkup on your business health! Here's what you might encounter:

• Business Plan: Crafting a solid business plan helps you articulate your vision, identify potential challenges, and map out your growth strategy. Even if you already have one, revisiting it for the loan application strengthens your understanding and potential success.
• Financial Statements: Gathering income statements, balance sheets, and cash flow statements provides a clear picture of your financial health, revealing areas for improvement and future opportunities.
• Tax Returns: Sharing your tax returns demonstrates your income stability and creditworthiness, crucial for securing loan approval.
• Credit History: Understanding your credit score and working to improve it strengthens your overall financial profile and increases your chances of favorable loan terms.
• Your Industry Experience: Writing out your industry background story can be an early boon for marketing!

Note: When applying for an SBA loan, we recommend borrowing a bit more than the initial franchise costs to cover expenses while building the business! Also, when franchising with NPI, you can ask our recruitment team for a sample business plan, a pro forma worksheet, and other resources to help determine estimated net income on a yearly and monthly basis.

What Can Keep You From Getting Approved for an SBA loan?
SBA loans are a great option for many entrepreneurs, but not everyone gets approved. Having a poor track record with payments, defaulting on any other loans, filing for bankruptcy, or just generally having an unfavorable debt-to-income ratio can be red flags for lenders. Another way that background can become a sticking point in the SBA application process is if the borrower has a criminal background. Although this doesn’t necessarily result in disqualification, a criminal record can become more of a problem depending on the severity of the offense.

Another reason that SBA loan applicants might be denied is due to lack of need. If borrowers haven’t explored other traditional loan options that they are qualified for, or they have plenty of capital or assets that they aren’t willing to devote to the business, the SBA may be less willing to approve the application. An SBA loan is designed with a particular focus on those that are limited in their available options, and who are currently working for a basis of income and assurance of future payments.

Note: Subcontractors and people who are already small business owners will need to provide two years of tax refunds, instead of just paycheck stubs during their application!

An SBA loan can be a fantastic financing option when the situation fits, and NPI has partnered with many franchisees who have utilized the SBA to start their own home inspection businesses. If you’re interested in franchising and want to discuss more about working with NPI, contact marketing team today to get the conversation started!

If you are having trouble finding a lender on your own, talk to our recruitment team about other financing options! National Property Inspections is a family of industry experts 35+ years in the making! Get your free info packet today to learn more.

About the Author
Sammi Marcellus, Recruitment Coordinator
A member of the Nebraska Army National Guard since 2017, Sammi assists the NPI recruitment team through building relationships with military veterans who are interested in franchising. Sammi has a background in customer service and is an asset to the NPI corporate team with her ability to relate with active and former military, guiding them through our recruitment process.

Why Now Is A Great Time To Franchise With NPI

WHY NOW IS A GREAT TIME TO FRANCHISE WITH NPI
 January 30, 2024 |  Marketing, Social Media, Franchise |  inspection industry, small business, business growth, networking, Google, entrepreneur, email marketing, digital marketing, business website, SEO

Opening up a small business requires boldness and a willingness to think big, but the most successful entrepreneurs tend to have their pulse on the current trends and projections of their selected industry. In an industry like residential and commercial property inspections, it makes sense to track the health and activity of the local real estate market before making major investments.

While recent housing struggles might tempt some to delay franchising in property inspections, encouraging real estate projections and the challenges of solo operation paint a different picture. Here's why now might be a strategic entry point:

Housing Market Projections for 2024
According to the most recent housing market projections from Forbes, 2024 projects a rebound from 2023's real estate woes. Declining mortgage rates predict a much-needed rise in inventory. While improved affordability may arrive later in the year, these trends signal a recovering market.

While healthy real estate markets benefit property inspections, solo businesses often follow a boom-bust cycle. They launch during hot markets and struggle when things cool. Conversely, inspectors who weather tough times gain valuable experience and client relationships. When the market rebounds, they are perfectly positioned to dominate.

Considering this cyclical nature and the time required to build a business, entering during market recovery makes strategic sense. New inspectors can capitalize on lower competition and rising demand, honing their skills and reputation in preparation for a booming market.

Solo Operators Have a Tougher Time Today
Today's small business owner wears many hats. Industry expertise and relationship-building remain crucial, but so is proficiency in website creation, social media marketing, and graphic design. Franchises offer support in these areas, allowing solo inspectors to focus on their core expertise.

Even the most ambitious and multi-talented entrepreneurs would be spread too thin if they wanted to cover all of these bases when building a new business. This means the most resilient small businesses either start with enough excess capital or investment that they can hire out talented people to fill these different roles, or they opt for a franchising system with built in support to fill these needs. Developing a robust support network takes a lot of time and energy - but it’s essential to have people to lean on for guidance when encountering unfamiliar hurdles.

NPI Offers Tons of Support
With National Property Inspections, franchisees gain access to a wide array of benefits, support, and tools that they can use to climb to the top of their local market. Our marketing team provides a proven plan that walks inspectors through initial relationship building, widening their scope through Google ads and online marketing in the first few years, and expanding their team with their first employees. Our dedicated marketing coach analyzes each franchisee's communication style, providing personalized strategies for team management and building referral relationships.

On the digital side, website support and updates, social media training, customized materials, and access to our experts help inspectors with even limited experience get noticed. In the field, tech support is available to work through issues and to talk through obscure finds (which will definitely come up during inspections - every home is different, after all), and our National Accounts Department provides opportunities for potential jobs.

Finally, for growth-minded business owners, National Property Inspections offers support for those that want to diversify their business and add new services to their repertoire. The NPI network of inspectors is full of some of the most experienced and successful business owners in the industry who invest in one another through sharing their strategies for growth, while also mentoring those who are just starting out.

For those waiting for the right time to make that jump into becoming your own boss - reach out today, get your questions answered, and figure out if NPI is the right fit for you!

Request your free info packet to learn more about the advantages of franchising with NPI, or contact our team directly to get your questions answered!

Marketing Insights: How to Use a Powerful Testimonial

MARKETING INSIGHTS: HOW TO USE A POWERFUL TESTIMONIAL
 January 23, 2024 |  Business Tips, Marketing, Social Media |  client satisfaction, business growth, Google, Facebook, email marketing, digital marketing, business website, SEO

By Zach Vesper, NPI, Inc.'s Senior SEO & Marketing Strategist

Beyond developing a great product or service, the biggest challenge small businesses face is gaining their audience's buy-in to their message. Eye-catching graphics and memorable slogans can help your business stand out to potential clients, but people are naturally skeptical. You claim your service is the perfect solution, but how can they be sure? They might wonder if you're exaggerating or, as a business owner, simply trying to present yourself in the best light.

The key to overcoming this hurdle is building trust. While there are various ways to achieve this, testimonials offer a powerful tool. However, not all testimonials are equally effective. By leveraging strong testimonials and applying the right strategies, business owners and marketers can effectively build that essential trust.

What is a Testimonial?
For those unfamiliar with the term, testimonials are statements about a person, business, product, or service made by someone independent of the subject. In the small business world, these are most easily recognized as reviews. Reviews are crucial for growing businesses, not only for their impact on SEO and online visibility, but also for their persuasive power.

As mentioned earlier, any information your business marketing puts out about its services comes from a biased source, naturally. You want to book more jobs, sell more products, and present yourself favorably – that's how you build a healthy business. This doesn't mean business owners are inherently dishonest, but simply that clients and customers typically seek more information before deciding to purchase.

Reading a positive Google review (or even a negative one with a well-thought-out response) gives potential clients an unbiased perspective on the quality of your services, customer care level, and the personalities of your team. An authentic endorsement from a previous client can paint a picture of the ideal, stress-free experience everyone desires. Future clients see glowing reviews and might think, "If others had a great experience, I likely can too."

According to a recent survey by marketing experts at Bright Local, 98% of consumers consult online reviews for local businesses, and 49% trust them as much as personal recommendations. Clearly, endorsements from previous clients hold immense power for businesses seeking growth. But don't stop there! Once you've amassed positive reviews, choose the best ones to highlight.

Read our article on establishing a solid review gathering strategy for more information!

What Makes a Great Testimonial?
There are a number of traits that can make reviews stand out above the rest and warrant extra attention:

1. Verifiable and authentic qualities in a review help drive home that the entry is written by a real person rather than AI. Examples of this include a full name, a link to the original review (if featured on a business website or social media), and details like the time when the service was performed and where. People have a remarkable knack of detecting authenticity in language - so keep an eye out for reviews that feel real!
2. Pictures and videos paired with authentic reviews drive home a testimonial’s impact because people are naturally drawn to faces and voices. Plus, when potential clients see a face and hear a voice, they are reminded that the review they are reading is from someone who was once in their shoes.
3. Detailed and specific reviews are also thought to be more believable, more engaging, and more memorable. While generic reviews like, “Joe is always a class act, I love working with him!” are valuable in their own right, reviews that tell a particular story of a client’s real experience have much more staying power and a greater impact.
4. Finally, reviews that target Pain Points within an industry are the best testimonials of all, because they acknowledge clients’ common fears of what can go wrong (eg. What if they cause damage to my home? What if they discover something that kills the sale?) and they show how your business separates itself from your competitors.

Note: Tackling pain points can be tough, and requires a lot of knowledge of your industry! If you’re new to your field, consider finding a mentor so that you have someone to lean on. Ask us about how NPI’s mentors can help you get started!

How to Market with a Great Testimonial
Once you’ve found a review (or a few) that really highlight your strengths as an entrepreneur and business owner, it’s time to use it as a true testimonial. A great review that tells a story, paints a clear picture, and hits on a common pain point among customers in your industry should be placed in front of your audience in as many ways as possible. Leverage their impact across social media, through email marketing, and on your website.

Particularly glowing reviews or clients that you’ve worked to develop a uniquely positive relationship with may be willing to be interviewed for a more extensive feature, video, or blog to further highlight their unique story. If you’ve been able to develop a testimonial worth featuring above the others, or you have a handful of testimonials that give a great overview of your business skills, you can consider creating a dedicated landing page to house this content together.

Do you have a concept for custom graphics or materials where you’d like to feature a positive testimonial? Let the NPI marketing team know! Want to know more about the benefits of purchasing a property inspection franchise with National Property Inspections? Get your free info packet today.

About the Author
Zach Vesper, Senior SEO & Marketing Strategist
Zach brings twelve years of content marketing and nine years of search engine optimization (SEO) experience to the NPI in-house marketing team. His areas of expertise include building marketing plans that increase franchise sales, optimizing web content for search, crafting effective paid search campaigns, reputation management, and content strategy. Zach is always more than happy to answer your questions about all things Google and considers this the most important and enjoyable aspect of his job.

Using Your Unique Background to Make Your Business Stand Out

USING YOUR UNIQUE BACKGROUND TO MAKE YOUR BUSINESS STAND OUT
 January 16, 2024 |  Business Tips, Marketing, Social Media |  small business, business growth, veterans, entrepreneur, digital marketing, business website

By Michael Trimble, NPI, Inc.'s Content Marketing Coordinator

Small business owners and entrepreneurs are trailblazers, carving their own unique paths in life with unexpected twists and turns. When marketing their small businesses, however, entrepreneurs often shy away from highlighting the more eccentric details of their backgrounds. This, however, could mean missing out on opportunities to make a splash in their market.

Making yourself recognizable and memorable takes effort and planning, essential for any business owner seeking to make an impact. With this goal in mind, owners can actually leverage their unique backgrounds in their marketing to stand out from the crowd. If you're considering this tactic, here are a few things to consider to strike the best balance:

Some Backgrounds Are Assets
Entrepreneurs often transition into becoming business owners after careers in other fields. While utilizing these previous professions to stand out in a new industry can be beneficial, understand that a recognizable profession isn't always well-liked. Each year, Gallup polls the US on their perception of the most honest and ethical professions, helping to create a picture of the careers with the best public image. According to Gallup, nurses, doctors, and high school teachers are some of the most well-regarded professions, while telemarketers, car salespeople, and members of congress are some of the least well-regarded.

Businesses can use their backgrounds to reflect their values and instantly position themselves positively with new clients and customers. Firehouse Subs is a well-known example, their connection to first responders, firefighters, and police officers prominently featured in their marketing and foundation (see the Firehouse Subs Foundation here).

As the old law of business goes: people who know, like, and trust you are more likely to do business with you. Bringing your story to the forefront and showcasing your commitment to giving back to your community are both great ways to start building that crucial understanding and familiarity. While replicating Firehouse Subs' marketing strategy is one option, other valuable options exist, such as using "veteran-owned business" icons on social media or creating a dedicated "About Us" page on your website.

Make Your History Work With Your Business Goals
Some business owners have interesting backgrounds in professions that aren't as easily recognizable or described in a few sentences. This doesn't mean these backstories aren't useful for building a brand story – far from it! Memorable experiences, epiphanies, and even failed past ventures can all be used to craft a story that engages a new business’ target audience, as long as a few key rules are followed.

First, ensure your backstory doesn't distract or detract from the image you're trying to build for your business. If your brand thrives on professionalism and trustworthiness, avoid incorporating too much casual humor. Conversely, if your content is too serious within an industry that leans more into light-hearted marketing, your company may feel less approachable.

Beardbrand, a beard grooming company, provides a good example. Their founder describes taking a chance and leaving the corporate world after discovering that experimenting with his facial hair unlocked a new sense of confidence. This relatively simple origin story is described succinctly (under a minute) in a memorable, engaging, and genuine way.

Whether your previous career skills directly contribute to your current role (like a contractor or electrician becoming a home inspector) or your life experiences model your business' ethos (like a veteran carrying their values forward), your background can play a major role in shaping your business' future.

Interested in learning more about bringing your story into your marketing plan? Contact the NPI marketing team today! For more information about starting a home inspection franchise with NPI, request your free info packet.

About the Author
Michael Trimble, Content Marketing Coordinator
A graduate of the University of South Dakota, Michael has a B.A. in International Studies and English. With a background in research and writing, Michael contributes to NPI’s corporate marketing team as a copywriter and content strategist.

How to Be More Productive

HOW TO BE MORE PRODUCTIVE
 January 9, 2024 |  Business Tips |  small-business, business-growth, motivation, time management

By Michael Trimble, NPI, Inc.'s Content Marketing Coordinator

If you’re anything like me, at the beginning of every year you tend to make a lot of resolutions for the new year. Eat better, get more sleep, read more books, and hit the gym - the goals I set for myself at the beginning of the year are usually pretty ambitious and widespread. Unfortunately, I have to admit that my track record of seeing those resolutions through to the end of the year tends to not be so great. Too often, other responsibilities pile up, new tasks or interests take priority, and I find myself feeling not all that productive around December 31st.

In the workplace, most people would jump at the opportunity to accomplish a bit more each day, and depending on your industry, finding ways to push more projects across the finish line can be the key to taking your business to the next level. To discover some of the best strategies and tips to improve productivity this year, I decided to poll the NPI Corporate Office for their best advice!

Make a List, and Check It Twice
Recommended by Celeste Black-Harr, Recruitment Coordinator
When speaking with Celeste, one of our fantastic recruitment coordinators, she talked about making lists of daily tasks at the beginning of each day. She said that visualizing her goals through a physical list, then crossing tasks off as she accomplishes them is a great motivating exercise. Celeste even recommends adding new tasks that come up unexpectedly throughout the day to the list just for the satisfaction of crossing off more things!

As it turns out, lists can be more than just a motivation tool. According to an article by Sean Grover L.C.S.W. over a Psychology Today, lists are proven to be therapeutic, boost self-esteem, and reduce anxiety. Whether you’re working on getting more organized or you suspect you’re more productive than you think, incorporate to-do lists into your daily schedule this year! Thanks for the tip, Celeste.

Take Breaks and Drink Coffee
Recommended by Melisa Rana, Graphic Designer
Melisa, our talented graphic designer, echoed the value of lists in improving her own productivity, though she mentioned using an online project manager called Notion that helps her sort between urgent projects, upcoming projects, backlog projects, and projects “under review.” Beyond lists? Melisa recommends coffee.

Along with getting enough sleep and eating something for breakfast every day, Melisa stresses the importance of good mental and physical health. Some days are more productive than others, and sometimes it’s a good idea to take a break. No one should beat themselves up if they feel they aren’t getting quite as much done as they’d like every day.

I think these are definitely wise points to bring up - thank you, Melisa! While finding new ways to improve productivity can be great, it’s important not to take things too far. Overstressing yourself is certainly a trap that people easily find themselves caught in. If the problem you’re dealing with is burnout, here are a few tips to try out!

Try The Pomodoro Method
Recommended by Stepha Vesper, Senior Communications Strategist
When thinking of specific strategies to try out for improving productivity, Stepha Vesper (our email marketing, social media marketing, and most-everything-else marketing expert) recommended a technique known as “The Pomodoro Technique.” She described the strategy like this:

• Step 1: Set a timer for 25 minutes and work without interruptions or distractions for the duration of the timer.
• Step 2: When the timer goes off, take a 5 minute break.
• Repeat!

These “sprints” of intense focus are supposed to be easier to handle knowing that there is always a reprieve within sight. While there are handy tools freely available (like this nifty timer), anyone can do the Pomodoro Technique just using their phone timer. Even the 25 min./5 min. ratio can be customized to your liking! This strategy sounds like a great way to tackle a massive project that’s been proven a bit more difficult than expected. Thanks for this great tool, Stepha!

Get Organized and Use a Planner
Recommended by Zach Vesper, Senior SEO & Marketing Strategist and Sydney Bailey, Marketing Director
Almost everyone that I spoke to at the NPI Corporate Office stressed the importance of organization in some way when asked about how to improve productivity at work, but when speaking with our SEO expert, Zach, he emphasized this point above everything else. As someone who tends to juggle a lot of different projects simultaneously, Zach said that he always makes sure to sort through ongoing tasks in order to prioritize each item based on time sensitivity and urgency.

While reorganizing and reprioritizing tasks can feel like adding yet another item to the to-do list, mapping things out and creating a game plan is crucial in order to avoid becoming overwhelmed by the sheer number of things that need to be done. In the same vein, our marketing director Sydney Bailey brought up how much she appreciates her planner for the same purposes. For more ideas on how to get organized as a small business owner, read more here!

Embrace the Competition
Recommended by Chris Bates, Vice President, Sales & Development
Our VP Chris Bates has tons of experience within our industry, so when I asked him for his best tips to improve productivity, I wasn’t necessarily surprised to hear how much competition motivates him. While recognizing that this might not be the best idea for everyone, Chris pointed out how effective a competitive mindset is when it comes to hitting goals, then pushing yourself to tackle new hurdles. For business owners who work in a competitive market, consider a new outlook and look to your direct peers as a measuring stick! Read more here on how to effectively perform a competitive analysis!

Chris also pointed out how important it was to get adequate sleep, and also advised following a daily workout routine. For additional motivation, Chris also mentioned the notion of legacy: building for the next generation, and carrying on what the previous generation started. As the son of our founder, Chris said that continuing the business that his father created is a big inspiration that pushes him to accomplish more every single day. Thank you for sharing your insights, Chris!

Learn to Delegate and Don’t be Paralyzed by Perfection
Recommended by David Stamper, President & Chief Financial Officer
Lastly, I decided to finish up by asking our president David Stamper his thoughts on improving productivity. When thinking on this topic, he mentioned a quote he once heard that goes something like this: “50 percent of something is better than 100 percent of nothing.” Many people battle with being a perfectionist, when they should really be thinking about the minimum viable product. In other words, start out with something, then get feedback, ask forgiveness, and improve on that product as needed.

Another point that David hit on was the importance of delegation for managers and business owners. Small business owners tend to keep their plates too full, even when they have a capable team willing to shoulder some of the load. Understanding your team’s strengths and giving them responsibilities that fit those strengths is the key to delegating well and getting your business to grow. Learn more about delegating right here!

Thanks again to everyone at the NPI Corporate Office for sharing your strategies, tips, and insights on improving productivity!

Interested in learning more about the NPI team and how you can benefit from franchising with National Property Inspections? Request your free info packet today!

About the Author
Michael Trimble, Content Marketing Coordinator
A graduate of the University of South Dakota, Michael has a B.A. in International Studies and English. With a background in research and writing, Michael contributes to NPI’s corporate marketing team as a copywriter and content strategist.