Jersey Mike’s 🥪 Big Move with Blackstone

Table of Contents

• Marvel’s Bold Storytelling Redefined Marketing

  • Actionable Insights in Advertising for Entrepreneu …

• IRS’s Move Towards BTA Modernization

• Fjällräven’s Sustainability Journey

• Jersey Mike’s & Blackstone Partnership

• Tool of the week

Marvel’s Bold Storytelling Redefined Marketing

The story of Marvel Comics and the evolution of its marketing approach offers valuable lessons for entrepreneurs looking to grow their businesses. Here are actionable takeaways:

1. Master Sociological Marketing: Instead of relying solely on data and metrics (Psychological Marketing), Marvel’s success under Stan Lee showcases Sociological Marketing—anticipating audience desires and creating trends.
   Identify deeper cultural or emotional needs within your target audience to craft products or campaigns that resonate on a societal level.

2. Leverage Storytelling for Brand Identity: Stan Lee’s shift to writing relatable characters like Spider-Man and the X-Men highlights the power of storytelling in building a brand.
   Infuse your brand with authentic stories that reflect shared struggles or aspirations of your audience.

3. Create Trends, Don’t Follow Them: The Fantastic Four and Spider-Man didn’t conform to existing trends but redefined them.
   Innovate boldly by addressing unmet needs or envisioning future desires of your audience, even if it challenges current norms.

4. Use Fans as Marketers: Marvel’s fanbase became evangelists for the brand, driving growth organically.
   Engage your customers in ways that encourage them to share and promote your brand, such as through user-generated content or loyalty programs.

5. Balance Metrics with Intuition: Metrics are vital, but as with Marvel and Apple, intuition can lead to breakthroughs.
   Combine data-driven insights with instinct to refine your marketing strategies.

By integrating these principles, entrepreneurs can build compelling brands, deepen customer engagement, and drive sustainable growth.

IRS’s Move Towards BTA Modernization

The IRS's push to modernize Business Tax Accounts (BTAs) offers entrepreneurs valuable tools to optimize tax planning and streamline compliance. Here are key takeaways and actionable strategies to use these new tools to your advantage:

1. Centralized Management: Entrepreneurs can use BTAs as a one-stop portal for managing tax filings, payments, and correspondence. By digitizing operations, businesses save time and reduce errors.
   Regularly update contact details and authorized representatives in the BTA.

2. Enhanced Compliance Tools: Features like viewing tax transcripts, filing elections (e.g., Forms 8832, 2553), and tracking notices help businesses stay ahead of deadlines and avoid penalties.
   Set reminders for tax due dates and use the portal to verify tax filings.

3. Streamlined Financial Processes: Entrepreneurs can manage direct deposit information, reapply payments, and view payment history through BTAs, improving cash flow management.
   Use these tools to reconcile accounts and allocate resources effectively.

4. Access to Tax Benefits: The planned deduction and tax credit finder will help identify applicable credits, maximizing tax savings.
   Monitor updates to identify opportunities for new or changed deductions and credits.

5. Secure Digital Communication: The ability to receive notices electronically ensures prompt action on tax matters.
   Opt for email notifications to stay informed.

6. Long-Term Planning: By offering tools for penalty abatements and extensions, BTAs enable better financial health and tax liability management.
   Use these features strategically during business transitions or growth phases.

These updates not only improve efficiency but also empower you to make informed, strategic decisions for long-term success.

Fjällräven’s Sustainability Journey

Under CEO Martin Axelhed, Fjällräven has exemplified how sustainability and growth can coexist. Axelhed’s leadership since 2005 reflects a proactive approach to environmental challenges, aligning the company’s mission with long-term strategic goals. His decision to phase out PFAS in 2009, well before widespread awareness, demonstrates the importance of anticipating industry trends and committing to innovation despite short-term obstacles.

Key Takeaways:

1. Visionary Leadership: Axelhed integrated sustainability into every aspect of the business, proving that bold decisions can redefine an industry. Entrepreneurs can learn to embed their values into core strategies, ensuring long-term relevance and trust.

2. Overcoming Challenges: Transitioning away from PFAS required significant R&D, supply chain adjustments, and internal education. By embracing setbacks and maintaining transparency, Fjällräven turned obstacles into opportunities for differentiation.

3. Customer-Centric Innovation: Fjällräven’s focus on durable, timeless products, such as the iconic Kånken backpack, illustrates the value of creating functional, lasting solutions. Entrepreneurs can apply this principle by prioritizing quality and user experience.

4. Collaborative Ecosystems: Working closely with suppliers to implement sustainable practices highlights the importance of partnerships. Entrepreneurs should nurture relationships that align with their mission to foster mutual growth.

5. Scaling Sustainability: Fjällräven’s success with secondhand and rental models shows the potential of circular economies. Businesses can explore innovative distribution strategies to appeal to eco-conscious consumers.

By taking initiative, committing to values, and navigating challenges with resilience, Fjällräven inspires entrepreneurs to think beyond profits and build for a sustainable future.

Jersey Mike’s and Blackstone Partnership

The partnership between Jersey Mike’s Subs and Blackstone illustrates key strategies you can emulate for scaling your businesses. Blackstone’s acquisition of a majority stake highlights the role of private equity in fueling growth through financial resources, market expertise, and strategic planning.

For Jersey Mike’s, this partnership aims to drive U.S. and international expansion, invest in digital transformation, and enhance operational capabilities, offering a blueprint for leveraging external capital to scale effectively.

Key Drivers Behind the Deal:

1. Market Expansion: Blackstone's track record with franchise growth (e.g., Hilton, SERVPRO) aligns with Jersey Mike’s ambitions to expand its 3,000+ locations.

2. Technology Investments: The focus on digital transformation reflects the increasing importance of tech-enabled scalability.

3. Strategic Alignment: Both companies share a commitment to quality, customer loyalty, and operational excellence, ensuring mutual growth.

Actionable Insights for Entrepreneurs:

• Timing Matters: Jersey Mike’s capitalized on its rapid growth phase and industry recognition (#2 on Entrepreneur’s 2024 Franchise 500) to secure an influential partner.

• Growth Strategy: Aligning with a proven investor like Blackstone provides access to resources that accelerate scaling while mitigating risks.

• Mission Alignment: Blackstone’s focus on franchise success complements Jersey Mike’s values of quality and community giving, exemplifying the importance of aligned visions in partnerships.

Noteworthy Lessons:

• Conduct thorough due diligence on potential partners.

• Prioritize strategic alignment over short-term financial gains.

• Focus on post-merger integration to maintain cultural and operational continuity.

This partnership underscores that ambitious growth often requires thinking big and collaborating strategically—even for smaller businesses.