Monday, November 30, 2009

Staples launches business blog

Staples Business Depot has today launched “How’s Business?” a blog for Canadian small businesses. As far as I know, this is the first small business marketer to invest in a coherent blogging strategy for Canadian entrepreneurs.

This is a move I applaud. As one of the top small business-related brands in the country, Staples has the goodwill and the savvy to become a credible purveyor of business advice and insight.

I met recently with the Staples marketing brainstrust and they also understand – unlike many bloggers, both individual and corporate – that their blogposts will have to be engineered to benefit the reader first, not the company. They know that in today’s over-marketed economy, you have to give first to gain your target audience’s attention and respect before you can hope to have any influence.

The posts published so far (e.g., startup myths, a business plan primer, creating a workspace, dealing with failure, avoiding identity theft, and of course blogging) live up to the promise of creating value without excessive self-promotion. Looks like http://blog.staples.ca/ will be worth bookmarking.

“How’s Business?” is integrated with an improved business-resource centre that includes articles, links, how-to videos and so on. And there are already some good conversations going on in the “comments” appended to each post.

The blog leans on guest contributors, which is good. But most of the posts come from someone named Lynnette, who writes interesting stuff despite having to be the “voice” of a corporation. Since blogging is a one-to-one medium, I hope Lynnette will come out of the shadows and develop more personality over time.

One quibble: in an introductory post, Lynette says that “Blogging and the web gives us a new way to communicate with you, our customers.” It’s not exactly new – as noted by the subtle dig from “Leo,” a fellow Staples employee who left this comment on that post:

“Welcome to the conversation, cousins! I work at Staples Argentina, we’ve had blogs for three years, and it’s been great!”

Good luck to Staples on a promising initiative. The question is not why it took Staples so long – but why no one beat them to it.

Friday, November 27, 2009

Learn from the past, or forfeit the future

(This post has been cross-posted from New Management Welcome, my part-time blog on chronic business blunders)
Holy Lemons! A study quoted in a recent New York Times GadgetWise column says 20.4% of laptops fail over three years.

The study, produced by SquareTrade, an online vendor of extended warranties, found evidence that netbooks fail at a higher rate, 5.4% in the first year of use compared with 4.2% for a premium-level laptop.

The study also says the accident rate for laptops is another 10%, so the total failure rate over three years is closer to 30%.

What’s most fascinating is that different manufacturers have compiled startlingly different failure rates.

SquareTrade concluded that Asus and Toshiba laptops fail about 15% of the time. At the other end of the scale is Hewlett-Packard, with a failure rate of more than 25% (my first laptop was one of those statistics - right out of the gate).

How sad is it that the report concludes, “In some cases, it would appear that failure is not only an option, but the expectation.”

We need higher manufacturing standards. Yes, price points are competitive, but the failure rate is just too high.

The big U.S. hardware brands should recall what happened to Detroit in the 1970s when foreign carmakers got the unique idea to focus on quality.

Learn from the past, or forfeit the future.

Thursday, November 26, 2009

When Entrepreneurs don't do the things they should

I got an interesting email this week from a CA with a big problem.

"My focus as a CA is business advisory services to small businesses. Unfortunately I find that even after signing on clients to an engagement, the clients don’t do the required action plans to grow their business.

This has me stumped. We had a conversation that they initiated, they bought into what services and investment were required , but once I send them the engagement letter everything stops. They have all sorts of reasons for not moving forward.

If you have any ideas , any advice or referral would be appreciated."


Does that problem sound familiar? I think it's pretty common.
Here's the response I sent.

"I have certainly noted this paradox before. (Don't worry, it's not you.) I call it "entrepreneurial inertia" - the inability of small business owners to do the things they know they have to do.

My (still evolving) theory is this: entrepreneurs like being the boss. It means they're in control. They call the shots. This means no one can ever force them to eat canned beans or broccoli ever again. When you have a mindset like that, it takes a lot of character to decide to go ahead and spend a lot of A) money and B) time doing some complicated thing that you really don't understand and probably don't believe in."

I wrote about this whole thing in a Financial Post column last year, and then followed it up with additional thoughts in a blogpost about what to do about it.

You can
click here to read the blogpost, and at the end of that post you can click through to read the Post article.

I finished by asking the CA, "Let me know what you think. If you can find a cure for this, I'll nominate you for the Nobel Prize in Economics."

What do you think? Is there a cure for entrepreneurial inertia?

How about a customer contest?

Here’s a great way for a company that prides itself on customer service to promote itself, and the very concept of service as well.

Rackspace.com, the “cloud computing” hosting company that calls itself “The Home of Fanatical Support,” puts customer service first in its own business. But it also holds a contest for its clients to recognize “one of our customers for valuing customer service as much as we do.”

The 2009 Fanati Contest is now underway (for U.S. customers only). Rackspace clients who think they have what it takes have until Dec. 11 to put together a 5-minute video explaining why they deserve to be this year’s winner.

Here are some of the approaches Rackspace suggests to contest entrants.
• Tell us who you are and what your business does.
Describe what Fanatical Support means to you.
• If you were going to take a thesaurus to the phrase “Fanatical Support” and use that in your company’s business motto, what would your new motto be?
• If you already have a Fanatical Support-like battle cry, what is it and give us the back story.
• Tell us about a time you or an employee went above and beyond (fanatically) for a customer or employee.
• Tell us how you’ve continued to enhance your motto to adapt to your business’ changing needs, culture, and/or growth to ensure that customers stay satisfied?

So why is Canadian Entrepreneur telling you about a U.S.-only contest?

Because it’s a brilliant (and inexpensive!) promotional idea. Rackspace is reinforcing its “Fanatical Support” branding. It’s building community and loyalty by engaging customers (and customers’ employees) in the campaign. And it stands to win valuable publicity as well.

What’s your brand? How could you get customers more excited about it, and promote it to the rest of the world, by organizing a contest of your own?

Perhaps you could recognize the customer to whom product quality is most important, or the one that does the greatest job of staff training or personal empowerment.

Because business is too important to be boring. And branding is a powerful tool that begs to be shared.

Wednesday, November 25, 2009

Re-designing the Future

Rotman School dean Roger Martin has just published a new book on "The Design of Business." He believes all businesses must develop "design thinking" (a mixture of analytical and intuitive reasoning) to solve the challenges they face today - or else face irrelevance.

It's a great book, plus it's short and easy to read, with lots of examples, from Procter & Gamble to Target and Cirque du Soleil.

But my favorite part is the insights it contains on the development of Research in Motion and its renowned BlackBerry. RiM co-founder, co-CEO and chief engineer Mike Lazaridis gets due credit for his dogged research that ended up changing the way the world communicates.

Lazaridis jumped on the potential of digital signal processing before any of the big telcos. It's part of his philosophy of business, says Martin. "Product design has to push the envelope to the point where it seems like you're making a mistake," says Lazaridis. If you're going to beat the giants with an innovation, he says, "It has to be audacious from a technical point of view."

I also liked Lazaridis' quote about never resting on your laurels. "In a business, no matter how good the process is, no matter how much you've got it down pat, no matter how much money you're making, you have to always go back and say, 'Is there something fundamentally wrong with the way we're seeing the market? Are we dealing with incomplete information?'

"Because that's what's going to get you; it's not necessarily that some young whippersnapper's going to come up with some better idea than you. They're going to start from a different premise and they're going to come to a different conclusion that makes you irrelevant."

According to Lazaridis, "Motorola lost because it didn't embrace the future... It was too damn good at what it was doing."

Friday, November 20, 2009

Letter to a Startup Entrepreneur

I had a query last night from a startup entrepreneur looking for my advice and best practices on starting and financing a business. That's way too big a question for me to answer for strangers in my spare time. But here is the free advice I offered her:

Hi Elizabeth. I think you wil find there are lots of good sources on starting a business, writing a business plan, finance and marketing. They're at your local bookstore, your local library, and all over the Web. Also look for local small business centres, which are often affiliated with your local municipality.

Your request for best practices, etc., is a bit too broad for me to help with. But I would be glad to help if you have a specific question on anything.

One particular resource I can recommend is "12 Weeks to Startup," a 12-part series I wrote two years ago, on starting a business. You can find that material at
http://www.financialpost.com/small-business/startup/index.html

I am sure you will do well. My most fundamental advice to new entrepreneurs is, "Never be afraid to ask for help." And you have obviously mastered that step already.

All the best

Rick

As the World Turns

This post isn't about entrepreneurship, exactly. But a huge part of business is knowledge and insight and understanding how the world wags, and what wags it.

So you might find the following quiz of interest.

It's a 12-question quiz devised by the U.S.-based Pew Research Center to probe your knowledge of how various peoples of the world view themselves and other parts of the world.

At the very least, it will open your mind to different ways of thinking. Which to me is the first step in business: stepping out of your own shoes and being able to understand the world as it is, not as you would like it to be.

Scoring is not important: the point is to learn a few things you didn't know. Having said that, I got 6 out of 12.

Check out the quiz at
http://pewglobal.org/quiz/iq/questions/

Then come back and leave a comment to let me know how you did.

All-Star Panel on Buying and Selling Companies

My column this week in the Financial Post recounts a few highlights from a lively business panel featuring two Dragons from CBC’s Dragons’ Den show (Kevin O'Leary and Robert Herjavec), and two of Canada’s most prominent women entrepreneurs: Teresa Cascioli (founder of Lakeport Brewing) and Rebecca MacDonald (Just Energy).

The subject was the buying and selling of companies in today's economy. The debate covered a range of subjects, including valuations, acquisitions, buyers vs. builders, and the lies sellers tell. It’s a fun (and timely) read.

As MacDonald noted, "This is a phenomenal time to be in the market... I have never seen more distress sales than I'm seeing today. If you've got cash, prices are low and it's time to buy."
Added Herjavec: "We just bought a $15-million company with no money down, based on their own cash flow... If I had approached this guy with this deal three years ago, he would have laughed at me."

The irrepressible O'Leary had lots to say: "Maybe those aren't distressed values... Maybe they're realistic values given today's market."

Many companies "kill shareholder value," he added, when they acquire other businesses that don't immediately boost the buyers' income statements. "What's important is free cash flow," he maintained. "If I buy my competitor's business, will I generate more cash than I had without it? That's the only question that matters."

For her part, Cascioli urged sellers to hold off. "If you can ride out [the current downturn], you will get more money tomorrow than you'll get today."

Read the full story here.

Wednesday, November 18, 2009

10 Crucial Consumer Trends

Trendwatching.com has released its list of 10 Crucial Consumer Trends for 2010.

Some of these are a bit too cute, and some trying too hard to be cool. But if you can fight your way through the confusing verbiage, this list offers some good ideas you might want to start grappling with.

Here's the condensed version of the list:

1. Business as Unusual
Forget the recession. Te societal changes that will dominate 2010 were set in motion way before we temporarily stared into the abyss.

2. Urbany
Urban culture is the culture. Extreme urbanization, in 2010, 2011, 2012 and far beyond will lead to more sophisticated and demanding consumers around the world.

3. Real-Time Reviews
Whatever you're selling or launching in 2010, it will be reviewed 'en masse', live, 24/7.

4. (F)Luxury
Closely tied to what constitutes status (which is becoming more fragmented), luxury will be whatever consumers want it to be.

5. Mass Mingling
Online lifestyles are fueling and encouraging 'real world' meet-ups like there's no tomorrow, shattering all cliches and predictions about a desk-bound, virtual, isolated future.

6. Eco-Easy
To reach meaningful sustainability goals in 2010, corporations and governments will have to forcefully make it 'easy' for consumers to be more green, by restricting the alternatives.

7. Online Tracking & Alerting
Tracking and alerting are the new search, and 2010 will see countless new INFOLUST services that will help consumers expand their "web of control."

8. Embedded generosity
Generosity as a trend will adapt to the zeitgeist, leading to more pragmatic and collaborative donation services for consumers.

9. Profile Myning
With hundreds of millions of consumers now nurturing some sort of online profile, 2010 will be a good year to introduce services to help them make the most of it (financially), from intention-based models to digital afterlife services.

10. Maturialism
2010 will be even more opinionated, risqué, outspoken, if not 'raw' than 2009; you can thank the anything-goes online world for that. Will your brand be as daring?

For more details, info and application ideas, go to http://trendwatching.com/briefing

Tuesday, November 17, 2009

Honesty and Humour in Advertising

I came across a few choice quotes today from advertising legend David Ogilvy (1911-1999). Although at least one now appears quite dated in tone, I think the message is important, so I have left it intact, in all its mid-60s glory.

How to sell: "A good advertisement is one which sells the product without drawing attention to itself."

The need for sales: "In the modern world of business, it is useless to be a creative original thinker unless you can also sell what you create. Management cannot be expected to recognize a good idea unless it is presented to them by a good salesman."

Honesty in advertising: "Never write an advertisement which you wouldn't want your family to read. You wouldn't tell lies to your own wife. Don't tell them to mine."

The use of humor: "The best ideas come as jokes. Make your thinking as funny as possible."

Thursday, November 12, 2009

Global Entrepreneurship Week

How time flies. Global Entrepreneurship Week is back again, from Nov. 16-22.

I have trouble getting my head around GEW. As an international event it's a growing force, and a welcome shot in the arm for grassroots capitalism around the world at a time when Big Business is under increasing attack (much of it justified). In Canada, GEW has the misfortune of directly following Small Business Week (and in some places, Small Business Month), creating a sense of deja vu.

This year GEW Canada is under the wing of the Canadian Youth Business Foundation. There's a goodly number of events across the country. as well as a number of "national" events delivered online. You can check out the schedule here: http://www.unleashingideas.org/canada/activities_calendar
You can even search for events by province (there are four next week in Manitoba, for instance).

Or you can read up generally on GEW here. http://www.unleashingideas.org/canada/activities_calendar

Have a great Week. Hug an entrepreneur.

How to pay for referrals

My column this week in the Financial Post provides a follow-up to my article two weeks earlier on referrals.

Reason: I had a fascinating note from Leonard Lee of Lee Valley Tools in response to the first column, and I wanted to let this legendary Canadian entrepreneur set the record straight in public.

Lee Valley put a lot of effort into learning how best to “encourage” satisfied customers to provide names of friends or colleagues who might be interested in his company’s products. But if you pay too much for referrals, the quality of those opportunities falls off fast.

Lee's solution: Lee Valley offered to give $5 to a charity (Nature Conservancy of Canada) for every name and address it received who ended up becoming a paying customer. As Mr.Lee points out, "This establishes a nebulous but real customer benefit, and forestalls someone sending us the Winnipeg telephone directory in hopes of earning a small fortune but at great waste to us.”

You can read the full column here:
http://www.financialpost.com/small-business/story.html?id=2200881

Friday, November 06, 2009

Even billionaires strive to please

My column in this week’s Financial Post tells about my recent encounter with billionaire Scott Cook, founder of Intuit (Quicken, QuickBooks, etc.).

He came to Toronto last month to kick off an Intuit Canada campaign to get closer to the small business market by holding information sessions with working entrepreneurs across the country. Cook himself facilitated the first one, asking 14 Toronto business owners about the problems that keep them awake at night.

So my story looks at small business’s most urgent needs today, as well as how one company is getting closer to that market in order to identify the problems it can actually solve.

Here’s an excerpt:

After the meeting, I asked Cook if he'd heard any promising ideas. One big one, he said: "Social media as a time suck."
"I don't claim I understand it yet," he said, "but it's given us more to do."

Read the full story here.

Tuesday, November 03, 2009

Outlive Strong

I just found out that I have outlived actor Raul Julia. Also Jerry Garcia, Gene Siskel, Enrico Fermi, Dian Fossey, Harry Houdini and Babe Ruth. Plus Lenin, and Hermann Goering.

The source of this trivial nostalgia is a clever, simple website called http://dead.atyourage.com . Just type in your date of birth and you'll find get the names of prominent people who passed away when they were just your age, or a bit younger.

It's a sobering reminder of how short life can be - and the need to make the most of every day.

If there are things you are waiting to do or accomplish, or dreams left unfulfilled - reopen the file and get them done. Life is too short to put off important things.

Don't let your goals outlive you.

Friday, October 30, 2009

Starting a blog

I received an email this morning from a business contact who wants to get into blogging. Some may think blogging is being displaced by other social media such as Facebook or Twitter, but I still think it's a huge opportunity for business professionals with specialized expertise and an interest in sharing it for the benefit of clients, prospects and others.

In case you are still thinking of starting a blog, here is an copy of my response to her. It has been slightly edited to preserve confidentiality.

Hi, xxx. Thanks for your note. I just looked at your website and yes, I think you are a prime candidate to blog. You obviously possess high-value information and expertise in a narrow but crucial niche, and one that can make a big impact on company strategy and performance.

My definition of a successful business blogger is someone who has a lot of information that his/her clients would love to understand better, and who keeps him/herself updated on an ongoing basis. By sharing some of that knowledge, you A) help companies recognize the value of your service, and B) position yourself as a uniquely confident specialist who is open and easy to do business with. And of course Google will love you and position you highly in its search results.

After you get the blog up and running, you should also look at buying pay-per-click Google ads to make sure that anyone looking for your keywords (name of industry, product or service, location, etc.) will be more likely to find you. It's cheap and very targeted, and you pay only when someone clicks on your ad and goes to your site.

If it is important to you to be seen as a high-end blogger, I suggest you contact an Internet expert who can set you up with your own custom-designed site and custom blog tools. That is the best way to create a professional (and professional-looking) site. If you want to play around for a while to discover if this is for you before you invest any money (not that it's that expensive), then the free service I use is perfectly adequate: http://www.blogger.com/

Blogger.com is owned by Google and is one of several popular free blogging sites. You can go there, register, then pick a design from among the free templates on offer. You can be posting articles in 10 minutes. You can also post photos and other graphics. There are also lots of choices for added tools and "sidebar" gadgets, such as favourite links, accessing older content, serving up related business headlines, linking Facebook and Twitter, etc.

The coolest thing about blogging is that you don't have to write everything yourself. It is perfectly legit, and useful to your readers, to post links to (and maybe summaries of) other interesting articles on the Web you run across that relate to your topic.

If you can be a one-stop shop to update your readers on all the significant ideas and issues in your space (ie, both an aggregator and a filter, giving them only information of value), you will be providing a welcome service, which again positions you well as a preferred advisor.

One other point: a blog can take some time to develop traction (ie, people find out about it and return regularly). So you need to work actively to promote it, by linking from your website and emails, mentioning it as often as possible, putting the URL on your business cards, etc.

You might also propose a "link exchange" with other sites in your industry, in which you agree to post links to each others' site/blog in order to provide a more well rounded service to your readers/clients.

One final note before I overwhelm you: Blogger will give you a URL that reads something like
http://www.yourcompanyx.blogspot.com/ . You should create an alternate URL to point your readers to (shorter, more professional looking and easier to remember) as soon as possible. Best thing for you would probably be to tuck it into your current site (eg, www.yourcompanyX.com/blog). Any web consultant can help you do that.

Best of luck. Let me know if you have any questions.

Rick

Death of a Growth Company

What's sadder than a fast-growth company that falls victim to its own success?

My latest column in PROFIT magazine looks at a PROFIT 100 company that took a one-way trip to the seven circles of hell. Dante Manufacturing (not its real name) had a great concept and a great future, but executive blindness did it in.

Here’s an excerpt:

Explore alternative financing before you need it
"As conditions worsened, the bank warned that its continued support was contingent on Dante raising more equity capital. Suddenly, Ghieri had to learn all about private equity, mezzanine financing and asset-based lending. Identifying potential suppliers took weeks; negotiating possible deals took months. Ghieri was just days from a deal when the firm’s creditors blew the whistle. Dante died of self-inflicted wounds."

You can read the full sad story here.

Monday, October 26, 2009

Here's an opportunity for someone

The following item is reprinted in full from a Dec. 27, 2007 post on this blog. After all, Santa Claus is coming to town in just 60 days.

"Every problem is an opportunity for someone"

There’s gotta be a business opportunity in here somewhere.

A recent Globe & Mail online poll asked the question, “After the holiday season, how do you feel?” Out of nearly 6,000 respondents, 31% said they felt “more refreshed.”

The other 69% say they feel “totally exhausted.”

How could your business help these exhausted consumers next year?

Friday, October 23, 2009

Jack Poole: 1933-2009

Heavy traffic on this blog today following the death of Jack Poole, legendary Western Canada entrepreneur and chairman of the Vancouver 2010 Olympic Organizing Committee.

Poole died early today of cancer - just 24 hours after the torch for the Vancouver Olympics was lit in Greece. He was 76.

Poole rose from modest Saskatchewan roots to become one of Canada's most successful real-estate developers. A few months ago, journalist Gary Mason wrote an epic profile of Poole in BC Business Magazine. On July 9th, I wrote a blogpost linking to that article and highlighting some of Jack's classic quotes, as compiled by Mason.

Tough guy, straight shooter, community builder, inspiring entrepreneur, Order of Canada honoree: RIP, Jack Poole.

Read CTV's hastily compiled yet eminently detailed obituary story here.
The National Post weighs in here.

Click here for the original BC Business article (July 2009).
Or click here for my blog's "condensed" version of that article: The Epic Struggle of Jack Poole.

Asking for Referrals

My column this week in the Financial Post looks at the lost art of asking for referrals.

I have been hearing from more and more entrepreneurs lately that most means of marketing just aren't working for them this year. What still works, they say, is old-fashioned word of mouth and referrals. So I thought I'd look into why referrals are so hot.

Excerpt:
"Done properly, referrals solve lots of problems endemic in our low-trust age. Despite today's hyper-competitive markets, buyers are still beset by doubts: Will this new supplier come through? Will the product do what they say it can, and will I get value for my money? Nobody trusts anybody anymore.

Referrals break this logjam of uncertainty by helping you tap into established trust networks of already satisfied customers. They transform you from just another marketer-on-the-make to a proven problem solver. But only if you remind customers to recommend you
. "

How do you get great referrals? Click here for more

Tuesday, October 20, 2009

Great speakers, great speaking tips

Want to meet the next generation of professional speakers?
Would you like to pick up practical, useful tips on how to become a better speaker?

Come out Thursday night to the Speakers Gold Talent Showcase, featuring 12 specially selected, up-and-coming speakers battling head-to-head to win gold. And you get to vote for the winner!

(Think of this as a live version of American Idol, or So You Think You Can Dance, except that you will hear great stories, emotional epiphanies, and many more metaphors.)

The event is this Thursday, Oct. 22, at 6.30 pm, at the King Edward Hotel in downtown Toronto. The venue was just changed due to high ticket sales, so there are a few more tickets available.

I will be a judge in the competition, as I was last year. The 2008 event was fun and memorable – a classy way to spend an evening in the big city.

My fellow judges will be James Erdt and Alizabeth Calder. (James, founder of www.Joyzone.com, won last year’s competition. Alizabeth is author of the new book Growing Up: Practical Strategies for Sustainable Business Growth.)

The judges will be commenting on each performance and trying, as best we can, to be helpful and practical without being discouraging.

These speakers will make you laugh and they’ll touch your heart. They’ll challenge your thinking and open your mind to new possibilities. Or you could stay home and watch The Office.

For tickets, contact Cathleen Fillmore at Speakers Gold (Cathleen@SpeakersGold.com), or call 416 532-9886. For more details visit http://www.speakersgold.com/events_talent-show-sep09.php

And here’s a link to the Financial Post column I wrote distilling the 10 best speaking tips learned at last year’s event. I just reread it and it's good stuff. http://www.financialpost.com/story.html?id=654070

Monday, October 19, 2009

Happy SB Week!

Small Business Week is a great time for entrepreneurs to get up out of the trenches for a moment, reflect on their accomplishments and plan their future growth.

Well, any day is a good day to do that. But this week (and to some extent, next week) there are lots of resources to help you, from the SBW Mega Mixer Trade Expo in Grand Prairie, Alta., on Oct. 22 to the Hants County "Turning the Corner: Seizing Opportunities After the Recession" workshop in Windsor, NS, on Oct. 30.

Best single source of info for SBW events is the Business Development Bank (BDC) website at http://www.bdc.ca/en/no_navigation/prov_events.htm . In Ontario, Google "Bridges for Better Business" in your community to see if there's a full-day business conference scheduled close to you.

Or contact your local economic development/Community Futures office to find out what's going on. Even if they're not doing anything special for SB Week, chances are they have useful seminars and events coming up that you really should be taking advantage of. And you can look forward to swapping cards with other growth-minded entrepreneurs while you're there.

The best entrepreneurs I know are sponges for information, always trying to get smarter and do better. Jump right in to SB Week. The water's fine.

Wednesday, October 14, 2009

7 "subject line" blunders you may be making

Want more people to open your emails? Pay more attention to the subject line.

It’s your headline, the scene-setter, the call to action that should grab your target's attention and create credibility and excitement at the same time.

In a new article posted at http://www.imediaconnection.com/, email expert Wendy Roth reveals how to get your subject line working harder for you. “Sending an email message with a lacklustre subject line is like building a house without a front door,” she writes. “Maybe your recipients will walk around the house to find a back door, or try to crawl through a window. More likely, they'll just shrug and walk away.”

Roth, senior manager of training services for Lyris, Inc., a pioneer in email and online marketing, says that everyone now gets more email than ever, so your messages have to work harder than ever to stand out.

Here is Roth's list of the 7 most common blunders marketers make when crafting subject lines.
1. Personalization run amok: When you use names in your database to ”personalize” emails, you run the risk of offending people or turning them off. They might not use that name regularly, or it might be a pseudonym. “Write meaningful subject lines that speak to their interests instead of slapping a name on another boring subject line,” says Roth.

2. No "oomph" to the urgency: State a time limit in your subject line if your offer has one.

3. Call-to-action is MIA: “Always tell the reader what you want him or her to do. The call-to-action doesn't have to be "Buy Now." It's the hook that will persuade the reader to act: an incentive, an urgency reminder, a price, a store opening.”
4. Call-to-action amputation: Assume most inboxes will cut off subject lines at 60 to 70 characters. Make sure your critical information appears in that space.

5. "Same-old, same-old" syndrome: When you publish regularly, a standing headline (e.g., “News from Gocter & Pramble”) might save you a few minutes, but it doesn't give readers a reason to look further. Use your top story or best offer to create the subject line.

6. Funky punctuation: Use punctuation sparingly in subject lines. It confuses more often than it clarifies.

7. Cryptic subjects: Recent real-life example: "NEW: Samsung 23" LCD $199... Sony 40" 1080p HDTV $749...Core 2 Duo Laptop w/ HD Graphics $579 & More New Deals" “You shouldn't have to know geek speak to understand what's going on," says Roth. "Focus on a key deal or two in your subject line and include more detail.”

To fix these problems forever, take advantage of email’s flexibility for research. Test different offers, different subject lines, different approaches. It takes only moments to fine-tune your emails, offers and subject lines to test different approaches with every mailing. The response from your list will let you know if you're on the right track.

Wednesday, October 07, 2009

100,000th Visitor!!!

One of the 170 visitors to my blog yesterday was our 100,000th visitor. It happened early yesterday morning, and because I was on the go from dawn till dark, I never got a chance to acknowledge it or hand out the book prize I’d intended to give away.

I will make amends by handing out a copy of my book, Secrets of Success from Canada’s Fastest-Growing Companies, to one lucky attendee at my morning keynote presentation at the SOHO Vancouver conference tomorrow. Hope to see you there!

And thanks, as always, for visiting this blog. Your interest and comments are always appreciated.

Maslow and "Deep Loyalty"

My column this week in the Financial Post looks at how you, your products or your company can absolutely maximize customer satisfaction and create “deep loyalty.” And you may have first learned about it in first-year sociology.

According to Chip Conley, founder of the California boutique hotel chain Joie de Vivre, the secret is to use Abraham Maslow's "hierarchy of needs" to delight your customers, employees and other key stakeholders. By supplying not only basic needs (e.g. food and shelter), but also people’s needs for safety, belonging and esteem, we can turn the customer experience into a significant competitive advantage.

Using this strategy, Joie de Vivre has not only survived the latest recession, but it is gaining market share. Better still, Conley told me in our interview, “We're creating an operating manual for working with humans."

Read the full story here.

Sunday, October 04, 2009

Rebuilding the Dream: 10 Reasons to Attend

Mandie Crawford of Roaring Women is the entrepreneur behind Rebuilding the Dream, a two-day business conference in Hamilton, Ont., October 16-17. Since Mandie (an ex-cop, visionary and marketing whiz) is behind it, it'll be a weekend like no other!

And yes - I will be involved. I am doing the Oct. 17 lunchtime keynote, and a workshop on how to build buzz for your business. You can see the full agenda here.

Mandie's goal: to help you prepare your business to thrive and succeed for the next 10 years!

Mandie has written up 21 reasons why you should attend. Here are just 10 of them:

1. To see your future you need to live it now!
2. Business is changing - you need to be in the know
3. Build your contact list - meet good contacts
4. Develop long-term vision
5. Connect with media
6. Break through barriers of time
7. Guerrilla marketing techniques unleashed
8. Become accountable to yourself and your dreams.
9. Learn how to fire the wrong clients while building your business !
10. Learn how to laugh at disasters, reduce stress and move forward

For the rest of Mandie's list, click here.
See you in Hamilton!

Thursday, October 01, 2009

Most Impressive Launch

This press release received today is about the most impressive business launch I have ever seen. This is how you build a business: with product, supply, distribution, message, design and mission all figured out and working in harmony.
I can't wait to see how this goes.

Oliberté Launches 1st Urban-Casual Shoe Company Made in Africa

Oliberté is a new shoe company showcasing the true potential of Africa. Working to-date in Liberia and Ethiopia the company looks to work in over 10 African countries in the next years. Shoes are sold and targeted in Canada, USA, Europe, Japan and Australia.

Oakville, Ontario October 1st, 2009 -- Headquarted in Canada, Oliberté has launched the first international footwear company to work exclusively in Africa. Designs for men and women shoes are urban-casual inspired and sold online (http://www.oliberte.com/) and in select stores this Fall in Canada and the United States. Initial styles include ROVIA (Men) and ELIKA (Women) which retail for $95-120 are sleek and have colourful pop with Oliberté`s signatures including thin crepe rubber soles and circles throughout designs.

Oliberte Footwear ROVIA FOR MENS AVAILABLE FALL 2009

Oliberté is a new revolution showcasing the true potential of Africa. Every time someone buys a pair of Oliberté shoes, they are showing to the world that Africa is more than just poverty - that it is full of pride, power and liberty .

"Oliberté is a new revolution showcasing the true potential of Africa. Every time someone buys a pair of Oliberté shoes, they are showing to the world that Africa is more than just poverty - that it is full of pride, power and liberty," said Tal Dehtiar, Oliberté's Founder and President. "All the attention on Africa is focused on alleviating poverty, but the only real way to alleviate poverty on this beautiful continent is to build a middle class that includes fair-paying jobs. The more shoes sold, the more fair jobs will be created at local factories where Oliberté works which ultimately changes lives for the better."

The rubber for Oliberté footwear comes from natural milk from rubber trees that have been tapped in Liberia. Liberia has the largest amount of natural rubber in Africa, but because of decades of civil unrest, it has been difficult to work in this West African Country. Today, Liberia is moving forward and Oliberté is thrilled to work with the country in creating local jobs and the first to process its rubber into natural crepe soles.

The shoes themselves are manufactured in Ethiopia, which has the largest selection of natural hides in Africa and a growing footwear manufacturing industry. By 2015, Oliberté looks to work in over 10 countries in Africa to source material, accessories and manufacture its shoes that will be sold from Canada to USA to Europe to Australia to Japan.

"If we wanted to make cheap shoes, we'd simple go to Asia, but this is NOT about cheap shoes or labour. This is about premium quality and fashionable footwear that creates fair paying jobs in the poorest countries of the world. Pride. Power. Liberty. This is the real Africa. This is Oliberté." -- Tal Dehtiar

Launched in 2009, Oliberté Limited is headquartered in Canada and founded by Tal Dehtiar, who, in 2004, launched the international charity MBAs Without Borders (MWB) that supports small businesses in Africa, Asia and Latin America. MWB was recently acquired by CDS Development Solutions but for his work, Tal was recognized with the International Youth Foundation Social Entrepreneur of the Year Award and nominated for the YMCA Peace Award, Canada's Top 40 Under 40 and Ernst and Young's Social Entrepreneur of the Year.

Rick again: Very impressive debut. Only thing missing is a list of participating retailers; the website says it is "coming soon." I hope so. I'd hate to see them lose the momentum of such an impactful launch. And at any rate, you can buy the shoes through http://www.oliberte.com/.

After the recession: more trouble

My Financial Post column this week looks at the economic prospects of the long-awaited recovery – and why things may not turn out as rosy as we would like.

According to an economic briefing I attended last week, the post-recession period will be marked by high interest rates and resurgent inflation, which could reach 6% by 2012 – which would be a 25-year high.

But forewarned is forearmed, so the column also offers counter-strategies to help entrepreneurs make the best of these conditions. A few ideas:

• Borrow now: “If you wait until there's undeniable proof of the recovery, then you'll be paying higher rates along with everyone else."

• Cut back costly entitlements: "Don't give people raises for nothing,"

• Use automation to control rising labour costs

• Burrow deeper into your market niche: The narrower and more exclusive your niche, the more you can set the pricing trends.

You can read the full story here.

The Robots Are Coming!

This real-life "Transformers" video is wonderful and eerie at the same time - with the background music adding a melancholy note. Auld lang syne for humanity? Or will we all travel around in the future on robotic shoulders?

Either way, science is moving ahead faster than we can imagine.

Sunday, September 27, 2009

Upcoming Events

I've been remiss in not keeping you informed of my upcoming presentations. I always stay around afterwards for as long as I can, so I would be delighted to meet you if you can make it to any of the following events.

Monday, Sept. 28: Networking Lunch Keynote (sponsored by Grand & Toy). Soho/SME Business Conference and Expo, Toronto. 12-1:30 pm. Royal York Hotel.
Click HERE for information and registration.

Tuesday, Oct. 6: Enterprise Toronto. North York Civic Centre, 8-9:30 am
Click here for more info

Thursday Oct. 8: Networking Breakfast Keynote. SOHO/SME Business Conference, Vancouver. 8-9:30 am, Fairmont Hotel Vancouver.
Click HERE for info.

Saturday Oct. 17: Hamilton. "Rebuilding the Dream," Crowne Plaza Hamilton
Click HERE for info.

Wednesday Oct. 21: London -Bridges to Better Business Entrepreneurs' Conference, Best Western Lamplighter
For info, www.sbcentre.ca/bridges.htm#agenda

Friday, Oct. 23: Markham - Markham Small Business Forum, "Business Success in Changing Times", Markham Civic Centre
For info click here

Monday, Oct. 26: Belleville - Dinner meeting of the Belleville Sales & Ad Club.
For more info, email moreinfo@salesandad.com

Saturday, September 26, 2009

Random notes from Cameron Herold's closing keynote at GrwothCamp;

Get more done faster, cheaper. Herold recommends Crowdspring, eLance, MechanicalBull Talk to any university student for more

Get your employees headsets so they can talk while walking about or going to the bathroom. And high-end Herman Miller chairs. "Your people will love you for it."

Get every employee a laptop. And three monitors for thier desktop computer: one screen for email, one for projects, etc. Big productivity increase.

Herold believes in a no-blame culture. "People don't fail, systems do."

On meetings: Allot half the time you think you'll need. You'll still get it all done.
Every meeting should end with: "Who will do what by when?"

Cameron Herold, part 3

Provide full disclosure to your employees.

Cameron Herold remembers when his employees thought the company was making too much money (ie, there was no real reason for them to work so hard). He realized they knew nothing about the concept of variable expenses, so he sat down with them and opened up the books to show how things were really going. Suddenly, they started working harder because they feared the company was going to go out of business.

Herold also reccommends weekly coaching meetings with your key reports. Don't follow up on tasks not done. Focus on three positive things:

* Direction
* Skill Development
* Support

Painted Pictures and Brutal Facts

Cameron Herold is a huge proponent of "The Painted Picture" - a vivid mental image of what your company should look like, feel like, and act like. It's a blueprint of what you want to do, and how you are going to do it. You pull it out and loook at it every time you have to make a decision about the future - it's both a guide and a filter.

Cameron says the most important part of growth is hiring the right people. "Find the A players and make sure you have something in your place to handcuff them there for the next five years."

What if you find yourself with an A player who nobody likes, or is toxic to your company culture? Fire them now, he says. (Apparently, it's a Jack Welch concept.) Good people will think your company is a phoney if you don't cull the people who don't fit the culture. And they'll flock to join you when you show the world how important culture and chemistry are.

As Jim Collins says, "Confront the brutal facts."

Cameron just asked how many of the entrepreneurs in attendance have someone in their business who doesn't fit the culture and really ought to be fired. About half of them put up their hands. Cameron encouraged them to fire those people by Monday at noon. And he offered them his phone number in case they need any encouragement or support.

"You can't build the great company you should be building by keeping them on."

Liveblog: Cameron Herold

Cameron Herold has just taken the stage at GrowthCamp. He's co-founder of Boyd Autobody, and the former COO of 1-800-GOT JUNK? He helped build that Vancouver-based franchisor to $100 million in sales. Cameron was selling newspapers at age 10. And he's one of those guys who used to organize other people to deliver papers; he would collect the money and pocket the tips.

Cameron opened his presentation with a slideshow about how entrepreneurs are changing the world. Business isn't what it used to be, he says. Some companies still try to control what their employees do, eg making sure they work from 9 to 5. Cameron suggests a different approach if you want loyalty and engagement: "You want employees to walk out of the office every day, saying, "That was fun."

An interesting personal note from Cameron: "I don't work on Fridays. And you shouldn't either. I think working is overrated."

The One-Page Business Plan

Plug all employees into a common direction, says Kraig Kramers.

Make sure it includes four elements:

* Unique Business Proposition

* Purpose of your Business

* Overall goal of your business

* Your strategy to achieve the goal

(Kramers says employees' greatest fear is that the boss doesn't really have a strategy for dealing with what is going on.)

One last tool from Kramers: "I wouldn't run a business in this economy today without a daily cash report."

What to track, and how (Kramers part 4)

"Spend your money on what causes sales," says Kraig Kramers. Figure out what is the driver, and then focus on that.

He suggests you use a 12-month forecaster: set goals, then do what you can to make sure actual results match the forecast. This process lets you know when you're diverging, and helps you figure out what tactics work best to get you back to projections.

Watch:
* What causes sales
* Bookings, billings, collections, backlog
* Headcount and expenses
* Gross profits, in dollars and by percentages
* Pretax earnings

How to track cash, credit and asset management
- actual cash availability
- Line of credit Level and Limits
- Receivables DSO > 90
- Inventory Earn-n-Turn

Kramers on tracking your progress

Kraig Kramers' key tool for tracking your business's ongoing progress: the trailing 12-month chart (or trailing 52-week chart).

(This eliminates seasonal variations and anomalies vs. standard monthly P&Ls.)

Standard accounting systems were set up by accountants for their own needs, says Kramers. "They weren't meant to run businesses by."

Most powerful performance-tracking tool: What causes sales in your business?
EG, at Kramers' former printing business, it was sales people that drove sales. So he hired more of them.

It could also be direct mail, advertising, trade shows, or referrals. Find out what is the key sales driver. "Grab hold and start managing it."

And don't tackle three or four or five of these tactics at once. According to the Pareto Principle (80-20 rule), 20% of your efforts produce 80% of your results.

Kramers mentions that more info and templates for a lot of tools are available free on his website at http://www.ceotools.com/

When you have these tools, he says, you have the key to Jim Collins' bus. (Remember him? "Get the right people on the bus.")

More from Kraig Kramers: Measuring

What gets managed gets done, right?

But only if you do it right.

Kraig Kramers says the first 3 steps of his 7-Step Management Process are all you need to set objectives and get things done.

1. Set Meaningful Goals.
2. Communicate and Build Trust.
3. Track Progress Publicly.

Pretty easy, right? But how many people actually do all these three things.

Another key point: celebrate success when you win.
Celebrate with everyone on the team, of course.

Live-blogging GrowthCamp

This morning we're in sunny St. Catharines, Ont. attending GrowthCamp, the conference for PROFIT Magazine's Hot 50 CEOs - the leaders of Canada's emerging growth companies. Despite the early hour, there's lots of energy in the room with all these youthful CEOs - all of whom have at least doubled their companies' annual revenues in the past two years.

First speaker is Kraig Kramers of CEO Tools, an energetic CEO/consultant who develops growth and management systems, tools and processes geared to entrepreneurs. He's offering 45 growth tools this morning - nearly one for every CEO in attendance.

But his first point is anything but quantitative. He reminds us that our goal as leaders should be to put a smile on everyone's face.

And he says the most important thing you can do as a leader is to open up communication in your organization. Make sure it goes bottom-up as well as top-down. Kramers says he owes his success in many businesses to listening to his employeees and associates. "If you go around and ask employees what to do they will always tell you."

Kramers says every CEO, every day, should "Walk the 4 corners of your enterprise." Pick out a few employees every day to talk to and confide in. Ask them:

* How can we improve our product for the customer?
* How can we improve our product?
* What do we have to do to make things better?

Too many CEOS, he says, "tend to deafness, listen selectively and get ourselves isolated."

A few more gems from Kraig Kramers:
* "Trust and communication rise together and fall together in every organization."

* "When we stop communicating, trust drops."

* "Use the same relationship-building tools you use every day outside the business to build trust in your business."

* "These are simple, silly little tools, but they really work."

Friday, September 25, 2009

Turning browsers into buyers

My column this week in the National Post looks at what you can do to turn browsers into buyers.

It was actually inspired by my experience in Jamaica during a brief business trip last week, when I stopped into a den of ramshackle souvenir shops. One owner in particular was an excellent saleswoman: she wouldn't let me leave until I promised to come back the next day.

Her sales savvy made me wonder how many Canadian business owners excel at converting tirekickers into actual revenue-generating customers – and how many let prospects slip through their fingers due to simply not trying.

Excerpt: "Therein lies the secret of winning over reluctant customers: you need to create a dialogue. Not in a "what-can-I-do-to-sell-you-this-car-today?" way, but a genuine conversation aimed at solving the prospect's problems rather than filling your weekly quota."

Read the rest of the story here.

Free book will go to 100,000th visitor

Sometime in the next week or two, this blog will receive its 100,000th visitor.

Milestones like that need to be celebrated, so I will be giving away a copy of my book, Secrets of Success from Canada's Fastest-Growing Companies, to someone on that day.

It may not go precisely to the 100,000th visitor: I have no way to identify the individuals who visit this site. But as soon as I find out we have hit the 100,000 mark, I will put up a post on the blog offering to send a free book to the first person who responds by email with their name and address - and their reason for coming to the site.

98,788 - and counting!

Thursday, September 24, 2009

Free PR Advice

I received an email today from an entrepreneur looking for some PR advice. A contact of his in public relations has offered to write up a press release for his business free of charge. She would also give him an email list of Canadian media so he could send out the release himself; or she would charge him a certain amount to send out the releases herself and track the responses.

My correspondent wanted to know if a press release looks better coming from a PR company or an individual. Here's what I told him:

Your friend is giving you a good deal. A free press release is quite a bargain!

I'm not a huge fan of PR agencies, but I think they do add value when it comes to wide releasing of a press release. Their name on a release, representing you, is generally better than you sending it yourself: it makes your business look bigger and more successful.

But the crucial question is, who will do the follow-ups? Journalists rarely respond to press releases: they just don't have time. Often they don't even read them. It usually takes a follow-up call or email to get their attention and make sure they actually look at your release. If you have time to do that, fine. But the question you should be asking is, is there other, higher-value work you could be doing in that time instead? I bet there is.

One other question is: which are the key media outlets you would most like to appear in? Your time is probably better spent thinking up how you could break into those outlets. You need a customized pitch that has been thoroughly thought through. And this is where a call to the media from an entrepreneur, to my mind, is more powerful than one from a PR person: when you have a specific story idea to pitch that you yourself can explain better than anyone else in the world.

For the more generic work (sending out emails, following up). I think you are better off to use a pro.


Cultivating key media relationships is an important business task. For mass-market PR work, however, most entrepreneurs have more valuable things to do with their time.

Friday, September 18, 2009

Transform your weaknesses into strengths!

My column in the Post this week looks at how small businesses turn weaknesses into strengths.

The topic was inspired by the Post itself. This week it brought back its Monday paper, which had been shelved for the summer. Because there’s not much business news on Mondays, they are filling the Monday paper with more features, sports and arts – recognizing a weakness and making sure it’s no longer an issue.

Excerpt:
Every retailer gambles when it purchases inventory, knowing some items will be more popular than others. In the heart of what used to be East Berlin, the Broker's Bier Borse devised a market-oriented solution. An electronic ticker over the bar readjusts prices every three minutes, upping the pricetag on popular beers or lunch specials, and lowering the prices of the drinks and dinners currently less in demand. Result: better-balanced inventory, fewer product shortages, and daily discounts for bargain hunters.

Click here to read the full story.

Bonus weekend reading:
Who are Canada’s fastest-growing startups? Read all about the Hot 50 in the latest issue of PROFIT Magazine (or click here).

Tuesday, September 08, 2009

Celebrating Small Business Week on a Budget

I received an email today from a local economic development staffer in a small rural community with an interesting request related to next month's Small Business Week: "I would love to hear some of your ideas for events we could run to celebrate the small businesses in our community. They would have to be ideas we could pull together in a few weeks..."

They left it kind of late, but here is what I wrote back:

Hi, Jean. Thanks for your email.
I think there are lots of things you could do to celebrate small business in your community.

How about asking a local banker, lawyer and accountant to put on a panel session, each talking about "5 things that local entrepreneurs need to know, but often don't." Then invite all the business owners in town to come for the free advice. And give them lots of time to ask questions of the panel.

You might also ask local businesses to bring in samples of their products, if appropriate, to raffle off at random.

Another fun thing is to have an "idea cafe," where you invite local business owners to an event where they form discussion groups with the people at their tables and work through specific problems. If time allows, you could also have each table appoint a representative to present their problems (and solutions) to the other groups in the room.

Or you could just hold a networking event. Invite the local town council, business owners, and professionals just to get together and mingle and meet each other. You could even offer a prize to the person who collects the most business cards that day.


Another way to hold a networking event is to invite some expert to speak for 15-20 minutes on a topic of interest to everyone in the room. It might be the mayor talking about the future of the community, a local expert on marketing through the Internet, an accountant talking about the upcoming HST, a sales coach talking about better cold-calling methods, the local newspaper editor offering tips on how to get publicity, etc. The greater the sense of community you create, the more everyone will bond.

Get a local hotel or service club to sponsor the location, and you can pull off a great event for very little cost. But better get started right away. Best of luck!

Monday, September 07, 2009

A few thoughts on Labour Day

I was surprised recently to read that Labour Day as we know it started in Canada and then spread to the U.S. The rest of the world of course, celebrates Labour on May 1.

Like Victoria Day (celebrating the birth of a queen no one today remembers very fondly, on a day that is not her birthday), Labour Day it is a rather odd, outdated holiday. It celebrates labour unions, which today are widely considered superfluous sources of one-sided greed and/or defenders of an extinct status quo.

As everyone knows, labour unions were once indispensable in checking the growing power and ruthlessness of big business. According to Wikipedia, “The origins of Labour Day in Canada can be traced back to April 14, 1872 when a parade was staged in support of the Toronto Typographical Union's strike for a 58-hour work-week.”

At the time, Canada had strict laws restricting union activity, but not even Sir John A. Macdonald could stand up for big business on such issues. After unions in Ottawa staged sympathetic parades on Sept. 3 to support the Toronto strikers, Sir John A. promised to repeal the “barbarous” anti-labour laws. A new Trade Union Act was passed the following spring.

Before long everyone was clamouring for a 54-hour workweek.

While instances of corruption and exploitation still exist (as they do in all aspects of human affairs), few could deny that workers today have it pretty good: high minimum wages, safe working conditions, good benefits, and fair severance deals (albeit moreso in Canada than the United States). But this is not just due to the role of labour unions. It’s really about the nature of work.

As long as workers were supplying only a commodity (muscle power) to their employers, they were vulnerable to exploitation and indifference. But then machines took over many of those jobs. At the same time, we witnessed the growing information economy, characterized by the rise of big corporations, and the need for managers, administrators, marketers, salespeople, planners, designers and others who use their brains and experience to create value for their employers.

Suddenly workers were no longer commodities selling easily replaced services. And the more value they created for their companies, the better they tended to be compensated. Yes, there have always been employers who have treated experienced knowledge workers like dirt, but in today’s highly specialized economy, this no longer works very well (read any post mortem on Circuit City for a recent example).

So let’s hail the unions for what they once accomplished. But let’s remember that as individuals, our future is not based on banding together with other needy colleagues, but on how well we distinguish ourselves by creating value for our customers and employers.

The information economy that empowers us makes entrepreneurs of us all. We deserve to earn as much as we can get – but our paycheque is determined by what we can produce, not by how much time we put in. This to me seems a much better system.

When Robots Attack

For your holiday reading, here's a fun post from PC World Canada: "Real-Life Robots That Could Kill Us All."

As the name implies, this brief slideshow offes examples of 10 robots that have actually been built that bear eerie similarities to the Terminator and other killer robots that we have long been accustomed to seeing in the movies.

Examples include the fly-eating robot that generates energy from the flies it consumes; the robot with the brain of a blood-sucking lamprey eel; and the "Multiple Kill Vehicle" built by the scientists at Lockheed Martin. (It flies, shoots bullets and emits flames.)

Reading the list is morbid fun, but it also makes you think about where technology is heading. You can start the slideshow by clicking here.

Excerpt:
Robotic Traffic Cones: University of Nebraska scientist Shane Farritor decided to install robotic motors and GPS systems into traffic barrels that could then be controlled remotely by a computer to move to different places on the road depending on where they are needed. It's easy to see the cones malfunctioning, however, and directing unsuspecting drivers toward shark tanks or vats of nuclear waste.

Thursday, September 03, 2009

Getting around the receptionist

Masthead.ca, the website for the Canadian magazine industry, has a fun column on selling magazine ads, by sales trainer Peter Ebner. In his most recent column, he tackles a subject that should interest any entrepreneur: How to get around a receptionist who is screening out your calls.
His ideas are kind of fun.

1. Call before 9 a.m., at lunch or after 5 p.m - when an executive is most likely to be without their administrative screen.

2. Ask for sales. Phone any company and ask for sales, and chances are you will be put right through. "You’ll find that most salespeople will tell you anything you’d like to know because they haven’t been instructed to screen calls," sasy Ebner. "They’ll not only tell you who the marketing manager is, they’ll also give you his direct line."

3. Call accounts receivable. If the company you are targeting doesn’t have a sales department, ask for accounts receivable. "Once again, accounting has not been instructed to screen calls, so they see nothing wrong with answering your questions."

Click here to read more columns by Peter Ebner.

New Resolutions for a new year

My column in this week’s Financial Post looks at four “new year’s resolutions” your business should consider adopting.

Reason: I’ve always thought that Labour Day is business’s New Year’s Eve, and that the new business year begins on Tuesday. Dec. 31 has snow and stuff, but September marks a new start after the summer doldrums. Plus, it’s budget times. Plus, for many companies, the fourth quarter is the one that counts the most.

Here are my four resolutions.
Take a fresh look at your business, through the eyes of a customer. Identify and root out any discordant element that prevents customers from experiencing your company the way you planned.

Invest more in training your people for this tougher new economy. Help them understand how dependent your company is on their actions, and give them the training they need to perform their jobs right. Pair up underperforming employees with mentors

Cull the herd. If training and retraining don't work, get rid of underperformers. This is a great time to find motivated new staff: There are many unemployed and underemployed people eager to work for a leading-edge company such as yours.

Say "thank you" every day. All your staff want to hear from you more often, to know they're on the right track, that they're recognized and their efforts are appreciated.
Make sure your industry partners -- customers, suppliers, bankers -- also know how much they mean to you. You'll spark dialogues that could result in valuable business tips, new opportunities, referrals and repeat business.

Read the full story here.

Happy New Year!

Thursday, August 20, 2009

Profit 100: Best Management Advice

Once again this year, the June issue of PROFIT Magazine included fabulous (but short) business tips supplied by the CEOs of Canada’s Fastest-Growing Companies.

Here are 10 of the best:

Love what you do, or don't do it.

Fire people when they're not performing well: Don't turn the situation into a massive fix-it project.

If you're not willing to do business on a handshake with someone, then don't do business with them: A contract can't replace a relationship.

Understand how your product can be sold internationally: It’s a way to diversify potential revenue sources without having to diversify into tons of different products or services.

If you have the right people, the numbers will come.

Always be moderately optimistic.

Nothing I've done has been as important as hiring well.

Treat your staff the way you want your customers to be treated.

Know what makes your company successful, then measure and control those things.

Make sure all of your management team works on one agenda: yours.

Your three biggest fears solved for you!

An email crossed my desk last week identifying the three biggest fears of business owners. So, contrarian that I am, my column this week in the National Post looks at simple ways to overcome those issues that seem so daunting to many business owners.

The three fears: fear of not marketing effectively; never being able to retire; and not staying abreast of new technology.

So click here to read the story and extinguish those fears one by one.

Excerpts:
"If you don't know whether you are marketing effectively, then you're not. Today's digital marketing tools such as websites and e-mail, search-engine optimization, promotions and newsletters are tailor-made for analysis. Don't waste another penny on unmeasured media until you have a clearer idea of what works."

and:
"Whenever anyone recommends you invest in a new technology, demand a written business case (yes, even from your children. If they believe in it, let them say why). What are the costs and benefits, and what unintended side-effects should you expect?"

Tuesday, August 11, 2009

Ten Questions to Ask Other Franchisees

If you are looking at a franchise opportunity, the most important thing you can do to protect yourself is to talk to existing and former franchisees about the strengths and weaknesses of their franchise system.

But what do you actually ask them? Here are 10 great questions from www.AllBusiness.com.

1. Are you happy with your franchisor? Why or why not?
2. How long did it take for you to realize a return on investment?
3. What are your approximate earnings, and are they in line with your expectations?
4. Did your franchisor adequately estimate the amount of operating cash that you needed?
5. How thorough was the training your franchisor provided? Did it prepare you to run this business?
6. Were there any hidden franchise fees or unexpected costs?
7. Is your territory big enough to allow you to hit your goals?
8. Are there restrictions on the products you sell and use in your business? Are you required to use designated vendors?
9. Does the franchisor advertise as much as they said they would?
10. What type of business experience, education, and skills did you possess before buying this franchise?

AllBusiness,com also has a lot of related articles for prospective franchisees. Examples:
· More and More Women Find Success in Franchising
· Selecting a Franchise
· A Common Trap for New Franchisors
· 10 Signs of a Great Franchise Opportunity

Kevin Spacey on creativity, business and obligation

Here's a link to a short video (about 2 minutes) with Kevin Spacey challenging a business audience to stay creative and open-minded.

I particularly like his quote from his old pal and mentor Jack Lemmon: that those who have made it in their chosen field have an obligation to "send the elevator back down" for those who need a little more help.

And then there's this quote. "Avoid those who choose to be negative or cynical, because being negative takes no effort at all -- and must be a rather unsatisfying way to go through your day."

"And while I realize that having a positive attitude won't solve all your problems, it might just annoy enough people along the way to make the effort worthwhile."
Go ahead, click the link. Sounds better when he says it.

Thursday, August 06, 2009

One Thousand Posts Later...

This is the 1,000th post in the Canadian Entrepreneur blog. In 5 1/2 years.

My blogging rate has slackened a bit since I started writing weekly for the Financial Pot, and since the advent of Twitter. (Which is blogging for people who have no time to blog. Or to read blogs.)

Nonetheless, I remain committed to this blog, and I thank you for making me part of your entrepreneurial journey.

And now, the post.

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My column this week in the Financial Post profiles a company that I think represents the best value proposition in Canadian retailing: M&M Meat Shops.

I believe that the companies that rigorously upgrade their value propositions are the firms that will best survive the current downturn, and dominate the weak and selective recovery that’s coming next.
Some of my speeches over the past year have referred to M&M as a textbook example of how a company can create multiple types of value for its customers. So last month I went to Waterloo to see how the principals of M&M create that value - and what they are doing to build their business now.
The resulting story is positive and, I hope, meaty.

Today's Twitter Outage - and You

Never fails.

Yesterday I posted on "Why Aren't You on Twitter?" and today the site goes down for two hours (and counting) - Twitter's largest outage in six months.

But I don't think it was the crush of Canadian Entrepreneur readers that took Twitter.com down today.

CBC.ca just reported that no one knows the reason for the outage, but I can tell you.
(Update: Twitter now blames a denial of service attack. But I have my own theory.)
When you Google Twitter today, the second result is Paula Abdul's Twitter page. Since the whole world is either outraged or overjoyed at her departure from American Idol, the temptation to hear the celebrity's side of the story must have been overwhelming. Literally.

There's a business lesson in this. People love to be empowered. If some issue concerns them, they want both sides of the story. Twitter and other interactive Web 2.0 tools adress this need - and fuel the demand for more.

How can your business help people learn more, feel more empowered, and take greater control of their lives?

Never argue with an idiot

Thanks to Sunjay Nath (www.sunjaynath.com) for a great quote of the day:

"Never argue with an idiot. The idiot will drag you down to his level and then beat you with his experience."

Nath's weekly tips are targeted mainly to students, but they contain wisdom for all ages. As Nath goes on to say, "Healthy conflict and heated discussions are one thing, but as soon as any argument feels personal, you should try to exit that conversation and come back to it at a later time when the participants aren't as heated.

"This way you'll maintain control over yourself and you won't find yourself being beaten by an idiot."