The business to business (B2B) industry, which focuses on the exchange of products or services between companies, has become a growing source of revenue for small business.

Traditionally, outsourcing business processes has involved office administrative tasks such as consultancy and bookkeeping; it now encompasses IT, customer service, marketing, HR, etc. Organisations engage in B2B solutions to reduce costs and maximise economies of scale (proportionate saving in costs achieved by an increased level of production).

A recent IBISWorld report finds that over the next five years through 2020-21, the B2B industry it is estimated to expand at 3.1 percent annually to $36.6bn.

One benefit for the market is the level of competition in the market as a result of small to medium sized businesses offering niche products and services.   

Brian Tracy International

At Brian Tracy International, the training and coaching of individuals and organisations is the speciality. With origins in Canadian Brian Tracy’s top-selling books on professional and personal achievement, B2B franchises operate in more than 32 countries. 

Owner and managing director, Andrew Phillips of Brian Tracy International Australia/NZ/UK/Ireland, believes emotional intelligence and having the right mindset are key skills required to succeed in franchising.

“A high level of emotional intelligence and communication skills are needed,” said Phillips.

In short franchisees need to be able to talk to both a small business owner and a CEO.

In his view, there are two key benefits to B2B franchising at Brian Tracy International.

“One of the key things is that our services are not commodities and are not price sensitive,’ he explained.

“(There are) low overheads and control of your own time.”

He also mentioned the established franchisor branding, service quality, and history of intellectual properly as a plus.

However, Phillips makes it clear that there is a high failure rate with franchisees when there is a skills mismatch. He believes potential franchisees need to be self-aware about their communication and behaviour styles, as well their motivation. This is to ensure an appropriate match to the business.

Phillips said that company outsourcing has been beneficial for the B2B business. However, he said franchisees should know that the business isn’t easy. 

“Read the fine print,” he advised. “It’s not a walk in the park.”

He stressed the importance of managing time, of self-discipline, and having realistic expectations of the business. Franchisees should have clarity on their five to 10 year goals and why they are signing up. In his view, the first 12 to 24 weeks requires some hard work.

“Part time gets part time results,” he said. “There is no shotgun approach.”

Take the next step to becoming a Brian Tracy International franchisee.