Getting Started with AI in your Business

Today I recorded a podcast with Google's Natasha Walji about how AI is changing the game for Canadian entrepreneurs. (I will link to the pod when it's available.)

I'm still new at this - as many entrepreneurs are. But it turns out that it's easy to get started with AI. Just find the right prompt, and see what it can do for you.

AI can help with so many problems, from prioritizing to strategy, from marketing to
production. But as always, the better you frame your questions, the better the results will be.  

Walji urges entrepreneurs to embrace curiosity and a learning mindset to find the best ways AI can help their business. "You don't have to be a know-it-all," she says. "Be a learn-it-all."   

To get you started, I just asked Google Gemini, "What are the 7 best prompts to begin using AI to manage my business?"

Here's what Gemini gave me back. I think you'll find lots of ideas to get you started on this brave new road.

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The key to getting the most out of AI is to use specific and well-structured prompts.

Here are 7 of the best types of prompts to begin using AI to manage your business, categorized by function:

1. For Strategic Planning and Market Analysis

These prompts help you gain a better understanding of your business's position in the market, identify opportunities, and create a roadmap for growth.

• Prompt: "Act as a business strategist. Conduct a SWOT analysis for my business, [Your Company Name]. Our strengths are [list strengths], our weaknesses are [list weaknesses], our target market is [describe target market], and our industry is [industry]. Identify key opportunities and threats, and suggest a plan to leverage our strengths to mitigate our weaknesses and capitalize on opportunities."

• Why it works: This prompt provides the AI with a clear persona and all the necessary context to generate a thoughtful and relevant analysis. The specific details about your company and industry will lead to a more tailored and actionable response.

2. For Marketing and Content Creation

AI excels at generating a wide range of marketing materials, from social media posts to email campaigns and ad copy.

• Prompt: "Act as a marketing copywriter. Write a series of three social media posts for [Platform, e.g., LinkedIn, Instagram, Facebook] announcing the launch of our new [product/service]. The tone should be [e.g., exciting, professional, fun], and the goal is to [e.g., drive sign-ups, increase brand awareness, generate sales]. Include relevant hashtags and a clear call-to-action."

• Why it works: This prompt is highly specific, providing details on the content type, platform, tone, and objective. This allows the AI to generate a highly targeted and effective marketing message that aligns with your brand.

3. For Customer Service and Communication

AI can draft professional and empathetic responses to customer inquiries, saving time and ensuring consistency.

• Prompt: "Act as a customer service representative. Draft a polite and professional email response to a customer who is unhappy with their recent purchase of [product]. The customer's main issue is [describe the issue]. Provide a solution that offers a [e.g., full refund, store credit, replacement] and maintains a positive relationship. The company policy is [describe policy]."

• Why it works: By giving the AI a role and a clear set of parameters, you can ensure that the response is both helpful and on-brand. Including details about the customer's issue and your company's policy prevents the AI from making unhelpful or inaccurate suggestions.

4. For Financial Analysis and Reporting

AI can help you make sense of complex financial data and create clear, concise reports for stakeholders.

• Prompt: "Act as a financial analyst. Analyze our Q3 financial data from [attach or paste data]. Identify key trends in [e.g., revenue growth, expenses, profit margins]. Summarize the findings in a concise executive summary and highlight two areas for potential cost savings and two areas for revenue growth in the next quarter."

• Why it works: This prompt assigns a specific role and provides the AI with a task that leverages its analytical capabilities. The request for a summary and specific recommendations helps you get actionable insights rather than just raw data analysis.

5. For Operations and Productivity

AI can help you streamline workflows, create checklists, and improve efficiency.

• Prompt: "Act as an operations manager. Create a step-by-step project timeline for launching our new [product/service] in the next three months. Include key milestones, potential roadblocks, and a plan for how to address them. The timeline should include tasks for [e.g., marketing, sales, product development, logistics]."

• Why it works: This prompt uses a specific persona and asks for a structured, multi-step plan. By identifying the different teams involved, you ensure the AI's response is comprehensive and considers all aspects of the project.

6. For Human Resources and Hiring

From writing job descriptions to drafting employee communications, AI can help you with a variety of HR tasks.

• Prompt: "Act as an HR manager. Write a compelling and inclusive job description for a [Job Title] role. The key responsibilities include [list responsibilities], and the required skills are [list skills]. The job description should also highlight our company culture of [describe culture] and be designed to attract diverse candidates."

• Why it works: This prompt provides all the necessary information for a detailed job description while also guiding the AI to focus on important elements like inclusivity and company culture.

7. For Brainstorming and Problem-Solving

When you're facing a challenge, AI can be a great partner for generating ideas and exploring solutions.

• Prompt: "Act as a creative consultant. We are looking for new ways to [e.g., attract new customers, retain existing clients, increase brand loyalty]. Brainstorm 10 innovative and cost-effective ideas, with a brief explanation of each, that we could implement in the next quarter."

• Why it works: This prompt is open-ended and leverages the AI's creative abilities. By providing a clear objective and a desired number of ideas, you can ensure the output is focused and easy to digest.

Artificial intelligence can be a powerful tool for business management, helping to automate tasks, analyze data, and generate creative content. The key to getting the most out of AI is to use specific and well-structured prompts.

Here are 7 of the best types of prompts to begin using AI to manage your business, categorized by function:

1. For Strategic Planning and Market Analysis

These prompts help you gain a better understanding of your business's position in the market, identify opportunities, and create a roadmap for growth.

• Prompt: "Act as a business strategist. Conduct a SWOT analysis for my business, [Your Company Name]. Our strengths are [list strengths], our weaknesses are [list weaknesses], our target market is [describe target market], and our industry is [industry]. Identify key opportunities and threats, and suggest a plan to leverage our strengths to mitigate our weaknesses and capitalize on opportunities."

• Why it works: This prompt provides the AI with a clear persona and all the necessary context to generate a thoughtful and relevant analysis. The specific details about your company and industry will lead to a more tailored and actionable response.

2. For Marketing and Content Creation

AI excels at generating a wide range of marketing materials, from social media posts to email campaigns and ad copy.

• Prompt: "Act as a marketing copywriter. Write a series of three social media posts for [Platform, e.g., LinkedIn, Instagram, Facebook] announcing the launch of our new [product/service]. The tone should be [e.g., exciting, professional, fun], and the goal is to [e.g., drive sign-ups, increase brand awareness, generate sales]. Include relevant hashtags and a clear call-to-action."

• Why it works: This prompt is highly specific, providing details on the content type, platform, tone, and objective. This allows the AI to generate a highly targeted and effective marketing message that aligns with your brand.

3. For Customer Service and Communication

AI can draft professional and empathetic responses to customer inquiries, saving time and ensuring consistency.

• Prompt: "Act as a customer service representative. Draft a polite and professional email response to a customer who is unhappy with their recent purchase of [product]. The customer's main issue is [describe the issue]. Provide a solution that offers a [e.g., full refund, store credit, replacement] and maintains a positive relationship. The company policy is [describe policy]."

• Why it works: By giving the AI a role and a clear set of parameters, you can ensure that the response is both helpful and on-brand. Including details about the customer's issue and your company's policy prevents the AI from making unhelpful or inaccurate suggestions.

4. For Financial Analysis and Reporting

AI can help you make sense of complex financial data and create clear, concise reports for stakeholders.

• Prompt: "Act as a financial analyst. Analyze our Q3 financial data from [attach or paste data]. Identify key trends in [e.g., revenue growth, expenses, profit margins]. Summarize the findings in a concise executive summary and highlight two areas for potential cost savings and two areas for revenue growth in the next quarter."

• Why it works: This prompt assigns a specific role and provides the AI with a task that leverages its analytical capabilities. The request for a summary and specific recommendations helps you get actionable insights rather than just raw data analysis.

5. For Operations and Productivity

AI can help you streamline workflows, create checklists, and improve efficiency.

• Prompt: "Act as an operations manager. Create a step-by-step project timeline for launching our new [product/service] in the next three months. Include key milestones, potential roadblocks, and a plan for how to address them. The timeline should include tasks for [e.g., marketing, sales, product development, logistics]."

• Why it works: This prompt uses a specific persona and asks for a structured, multi-step plan. By identifying the different teams involved, you ensure the AI's response is comprehensive and considers all aspects of the project.

6. For Human Resources and Hiring

From writing job descriptions to drafting employee communications, AI can help you with a variety of HR tasks.

• Prompt: "Act as an HR manager. Write a compelling and inclusive job description for a [Job Title] role. The key responsibilities include [list responsibilities], and the required skills are [list skills]. The job description should also highlight our company culture of [describe culture] and be designed to attract diverse candidates."

• Why it works: This prompt provides all the necessary information for a detailed job description while also guiding the AI to focus on important elements like inclusivity and company culture.

7. For Brainstorming and Problem-Solving

When you're facing a challenge, AI can be a great partner for generating ideas and exploring solutions.

• Prompt: "Act as a creative consultant. We are looking for new ways to [e.g., attract new customers, retain existing clients, increase brand loyalty]. Brainstorm 10 innovative and cost-effective ideas, with a brief explanation of each, that we could implement in the next quarter."

• Why it works: This prompt is open-ended and leverages the AI's creative abilities. By providing a clear objective and a desired number of ideas, you can ensure the output is focused and easy to digest.

CEOs are in the simplification business

I just sent a note to a friend embarking on his first business media project, to help him understand his audience.

Business leaders are a coveted audience, and they are always looking for relevant information and intelligence. But they are elusive, always busy, and very hard to reach.

Which means you have to carve a message that gets through to them immediately. You may only get one shot.

So here is my advice:

Business leaders are in the simplification business.

They demand inputs that are clear and uncomplicated, and their outgoing messaging is very much the same. Give them too much detail and their eyes glaze over.

So make sure your messaging is always easy to follow, shuns technical jargon, and avoids unnecessary complications. CEOs want clear solutions and easy-to-follow strategies for success.

As the writer/marketer, value their needs over your own. Use the word "you" at least three times more often  than you use "I" or "me" or "us." 

The buck stops here. But so does nuance, indecision, evasion and ambiguity.

  

Five Rules for Selling to Small Business

 

"Never close the door on someone wanting help"

My friend Michael Hughes, a networking coach/advisor in Ottawa, believes relationships are the root of business success. He underscored that commitment today when he published a newsletter article revealing his list of 10 personal goals and values. They turn out to be very apsirational, but practical and also doable.

I like to think I live by my values, but I was never smart (or brave) enough to actually write them down.

Michael shared this list in hopes they might inspire others. And I am proud to amplify his list of goals and values by republishing them here, with his permission.  

Almost thirty years ago, as I was finding my way as an entrepreneur, I wrote a list of 10 personal goals and values. They aren't world-changing; but they were important to me at the time. 

They have guided my intentions and my actions. They remain my moral compass and guide me to this day 

I'm listing them below in hopes that they encourage you to create your own, if you haven't already.

P.S. It's not how many there are that matters; it's your commitment to the ones you decide on that does. 
 

Michael Hughes' personal goals and values 

Secure financial freedom. Make enough money to do the things I want to do. Live comfortably. Take care of my family. 

Own my own company. Decide my own future; be master of my own fate. Have the ability to choose how and when to work. 

Do work which I enjoy. Do things based on the fact that I believe they are worthwhile. Be creative. Lead.

Always maintain the highest level of integrity and professionalism in all business relationships. Never make money at someone else's expense. Do business with people who believe in my abilities and capabilities. 

Ensure that all relationships are positive and in the best interests of all parties. Work on the basis that I will be working for or with this person in the future. Come out of business relationships feeling that I have gained something. Make the customer #1 and they'll take care of you. 

Help others grow where possible. Always seek out individuals who could have a positive impact. Never close the door on someone wanting help.

Continue expanding horizons and learning new things. Make it a point to learn from every experience. Look for new experiences. 

Meet interesting and compatible individuals. Always take the first step in relationships. Never be afraid to go out of my way to meet or spend time with someone new. 

Travel and see other parts of the world. Take the initiative to travel whenever it presents itself. Plan future travel, especially with the family. 

Be the best person I can be. Always be positive. Try to help when I can. Treat people as I want to be treated.

Notes from Rick again: Which of these values are your favourites?

I particularly love "Never make money at someone else's expense," and "Work on the basis that I will be working for or with this person in the future. Come out of business relationships feeling that I have gained something."

If you follow guidelines like these, you can't go wrong.

You can learn more about Michael at https://networkingforresults.com.

"Talk to 100 customers"

Talking to some startup entrepreneurs yesterday, I got the definite feeling they haven't spent enough time talking to customers. It reminded me of some of my conversations with Steve Blank, one of the original Silicon Valley tech entrepreneurs, founder of the "Lean Startup" concept, and the guy who first recognized that startups aren’t baby businesses – but platforms for testing business ideas (which he insists on calling hypotheses).

Steve has been hammering this idea home for four decades now. But it never gets old, because we all know entrepreneurs who have great business ideas, but would rather stick pins in their eyes than actually go visit customers and ask what they need.

Click here to read one of columns stories on this subject, still alive and kicking at the Financial Post.

If you don't have time to click, here’s the meat of the interview:

SB The lean startup now has three components. They are all based on the fact that for a startup, there are no facts inside your building. While you might be the smartest person inside your building, there’s no possible way you could be smarter than the collective intelligence of your potential customers.

I remind my students at Stanford and Berkeley that while you think you understand the problems of your customer, all you really have is a series of untested hypotheses. So the whole idea of the lean startup is to validate, or test, your guesses before you spend a lot of time and money on it.

RS But I know so many entrepreneurs who really like their office, or their garage. They leave there only reluctantly.

SB That gets to the core of, What is an entrepreneur? A founder is a visionary; a founder sees something or hears something other people don’t. But it turns out that if you’re a founder, and you envision something new, the odds are you’re hallucinating, not being a visionary. You’re actually seeing things that aren’t there.

To differentiate the hallucination from the vision requires you to get out of the building and validate: Is this a mirage? Is my passion overwhelming the rest of my senses? That’s what makes customer development hard. It just goes against the DNA of a founder who says, “Let me just build this. Get out of my way!”

And here’s the big idea. In the old days, investors would expect that if there was any failure, it was your problem. You personally failed. Now we know that startups go from failure to failure, learning as fast as they can. And this process allows us to do that learning as quickly as we can.

RS What about the shy entrepreneur? Is there no way they can get out of this without talking to customers?

SB No. When we teach this process to 22-year-olds in hoodies and flip-flops, or to 52-year-old scientists, by the time they’re done they will have talked to 100 customers, eyeball to eyeball. There is no faking that data. There’s no denying what you’ve heard.

The Canadian Entrepreneurship Advantage

In Dubai yesterday, as part of my work with NextStars, a Toronto-based business advisory/mentoring firm, I gave a speech to a group of entrepreneurs and immigration consultants from many nations about what makes Canada such a great place to start, grow or invest in a business. My theme was "community."

In the spirit of sharing, here's an excerpt from that speech.

"A few facts about Canada you may not know. Canada is the world's second-largest country - but 90% of us huddle within 300 km of our southern border. We have 40 million people, and the world’s ninth-largest economy. Our official languages are English and French, but we are proud to be one of the world’s most culturally diverse societies. Wherever you come from, you will find community in Canada.

Canadians don’t like to boast, but we also have a proud record of invention and innovation. Canadians gave the world the snowmobile and the snowblower - well, duh - but also the light bulb, the telephone, insulin, Pablum, peanut butter, standard time, and the first cell phones with email (remember the Blackberry?). But we're not done yet. Canadians also developed kerosene, color movies, alkaline batteries, the Java programming language, and the push-up bra (are we allowed to say that in Dubai?). Something for everybody.

Canada also produces amazing entrepreneurs. Have you heard about the World Entrepreneur of the Year program run by the accounting firm EY? Canadians won this global crown in Monaco twice in its first 16 years - one of just  three countries to do so (along with the US and India).

The first winner was Guy la Liberte, founder of Cirque du Soleil, still dazzling audiences with shows and tours around the world.

Ten years later, the world crown  went to another globally minded Canadian, Murad Al-Katib, founder of AGT Foods in Regina, Saskatchewan. AGT is the world’s largest producer of pulse crops (that is, beans, lentils and chickpeas). Murad, the son of immigrants from Turkey, didn’t win just for surpassing $1 billion in sales, from changing the future of agriculture in Saskatchewan, or for his dream of ending world hunger with plant protein. The EY judges loved that AGT had provided 700 million rations for the United Nations’ food program for Syrian refugees.

Canadians. Community.

Two more all-star entrepreneurs. When the U.S. network ABC licensed the rights to Dragons' Den, the hit British TV show with superstar entrepreneurs competing for deals, they renamed the show Shark Tank. And they hired two successful Canadian entrepreneurs, Kevin O'Leary and Croatian-born Robert Herjavic, to pretend to be American entrepreneurs. So, never let anyone tell you that Canadian entrepreneurs are not world-class - or that you have to be born in Canada to succeed there. 

In fact, Canada’s version of Dragons’ Den has featured three other immigrant entrepreneurs: chef Vikram Vij, from India; fashion mogul Joseph Mimran, from Morocco; and financier Wes Hall from Jamaica.

Canada has always depended on  immigrant entrepreneurs and investors - and we still do. Because they don’t just bring money, ideas and business savvy - but an appetite for change and improvement. 

As a business journalist for 30 years, I’ve had the opportunity to meet so many outstanding Canadian entrepreneurs. Those experiences, and working with Saeed Zeinali of NextStars, has enabled us to articulate a new model of Canadian entrepreneurship.

For too long, we’ve bought the Silicon Valley ethos of “disruption”. Move fast and break things. But Canadian entrepreneurship is different. Canadians believe in collaboration over confrontation. They love their customers. They want to fix things, not break them. They make business more efficient, more human. They believe in win-win-win - for their suppliers, their customers, and themselves. And they pursue global markets from the get-go. 

All these characteristics give Canadian entrepreneurs a strong start and ongoing advantage."

What do you think of our thesis?

Why are Trump's lies so effective?

 As a lifelong journalist (I co-founded a classroom newspaper in grade 5), I have always venerated truth. Which is why serial liar Donald Trump’s second election win intrigues me, even as it outrages me.

I understand that millions of MAGA members believe his ridiculous lies, and have been relentlessly programmed to ignore more informed points of view.

But how does he hook them (and keep them)?

My investigation begins by asking Perplexity.ai:

Why are Trump's lies so effective?

Its responses (printed below) are plausible and compelling - and often alarming. I have "bolded" some of the most intriguing ideas below, and I will be studying them for a while. 

So should you. The tools of rhetoric and persuasion can be used for good as well as bad.

Perplexity.AI: Donald Trump's lies have proven effective for several key reasons:

1.               Repetition: Trump frequently repeats false claims, exploiting the "illusory truth effect" where people tend to believe information after repeated exposure. His strategy of "As long as you keep repeating something, it doesn't matter what you say" demonstrates his conscious use of repetition 

2.               Emotional appeal: Trump's lies often appeal to emotions rather than rational thought. For example, his claims about immigrants "eating pets" in Ohio are designed to provoke fear and outrage rather than encourage factual analysis.

3.               Confirmation bias: Many of Trump's supporters are predisposed to believe his statements, even when presented with contrary evidence. This is partly due to extreme partisan polarization and low trust in institutions

4.               Media manipulation: Trump's lies often dominate news cycles, forcing media outlets to repeat his claims even when debunking them. This gives his falsehoods more airtime and visibility

5.               Lack of consequences: Despite numerous fact-checks and debunkings, Trump has faced few significant political consequences for his lies, which may embolden him to continue.

6.               "Big Lie" technique: Trump often employs what some describe as the "big lie" propaganda technique, where the sheer audacity and scale of the falsehood make it seem more believable to some.

7.               Tribal loyalty: Many Republican voters and politicians continue to support Trump despite his lies, either excusing them or believing them outright, which reinforces their effectiveness within his base.

8.               Episodic thinking: Trump appears to focus on "winning" each moment rather than maintaining consistency over time, which allows him to contradict himself without apparent concern.

9.               Distrust in traditional sources: Trump has successfully undermined trust in mainstream media and institutions among his supporters, making them more likely to believe his version of events.

10.            Entertainment value: Some supporters appreciate Trump's lies as a form of political theater or as attacks on elites they resent, rather than judging them on factual merit. These factors combine to create an environment where Trump's lies can be effective despite their demonstrable falsehood, particularly among his core supporters.

There's lots in here that can help anyone - individual, speaker, marketer or influencer - communicate more clearly and memorably. What is your favourite takeaway from this list?  

 

Three keys to great leadership

There are more books on leadership than you could read in a lifetime.

Yet few people understand leadership, and I suspect more people break the rules of leadership success than actually follow them.

In my career I have worked with leaders who imposed rules and demanded respect for the hierarchy that supported them, yet failed miserably to describe their goals or inspire anyone to give a care. They could acknowledge great performance when they saw it, but they never really defined what they expected – let alone earned the trust which would enable their teams to perform beyond targets.

All of which is to say… Leadership is hard. It's called a “soft skill,” but leadership is as hard as diamond, and tougher to crack.

Leadership is especially challenging for entrepreneurs, who often lack formal business training (or skipped their management classes to focus on their startups). Most entrepreneurs learn to be “bosses” on-the-job, which is of course a major reason why 90% of startups fail.

My three shortcuts to great leadership:

·  *    Leadership is all about preparation. You have to X-ray your organization or business plan to make sure you understand it completely – and what has to be done to carry it out. You need to have the right people on the bus in the right seats (as they say in Good to Great). Few leaders can get the results they need with the wrong people or the wrong plan. It’s your job to know where you're going, your job to hire the people to get you there, and your job to set the goals that help your team understand what success looks like. There’s a lot of improvisation in leadership – but the less there is, the better.

“Leadership is action, not position.” That's one of my favourite quotes, from former broadcasting CEO Donald McGannon. Whenever you find yourself thinking too much, this quote will remind you to get out of your office and go talk to your team. They want to know what you are thinking, how you would do things, what opportunities you are seeing now. A business is nothing without optimism and inspiration. That’s your real job now.

·       Leadership is Feedback. “How’m I doing, coach?” is the question on the mind of every athlete – and your best employees want feedback, too. So many companies offer employees feedback just once or twice a year, usually at tension-filled reviews where all employees really want to know is if they’re going to get that raise.

Every day is an opportunity to give people feedback! Use active questions to find out what they need. Ask employees how they're doing, ask what they think they could have done differently, ask if they need anything else to do a better job. Then tell them stories about how you might solve a problem similar to the one they're facing now. Pat them on the back, invite them to try something new, and let them know you're always available to talk more.

Leadership is also about consistency (but not conformity). Make sure all the other leaders in your organization follow your example. Sometimes it’s the lieutenants that screw everything up for the whole army – because they haven't had much leadership training either, but they also don't see the big picture you do – so they may not understand how important their leadership is.

Business is always changing; everyone is learning every day. Follow these rules and your whole organization will move forward, together, faster. 

How to convert uncommitted customers

 (A trusty article written in 2009)

At a ramshackle roadside tourist market on the north coast of Jamaica, if you stop to investigate the goods in one stall, the high-spirited vendors who eke out a living there insist you visit them all. I managed to escape on one recent trip by saying I had a bus to catch (which was true), and that I would return the next day (which was possibly true).

But I was humbled by one young vendor who implored me to visit her stall. When I said I had to go, she responded, “But you said you’d come back tomorrow. You’ll come back, right?” I assured her I would. And so I did, because her earnest questioning had transformed my feeble excuse into a solemn commitment.

Her brilliant marketing tactic made me wonder how many Canadian entrepreneurs are equally adept at winning commitments from potential prospects. What do you do to elevate your relationship with customers who are “just browsing” to increase your chance of landing a sale tomorrow that you didn't make today?

This is one task that’s more easily accomplished online than IRL (“in real life,” for those who didn't know that reality is now just an acronym). If someone has visited your website, but is about to slip away without leaving their name, you can easily generate an automated “Going so soon?” screen that offers casual visitors an additional benefit (a brochure, newsletter, white paper or “special report”) if they provide their name and email address. That gives you one more shot at demonstrating the value you create, or adding the prospect to your mailing list.

Some online marketers structure that “last chance” offer as a survey, giving them a chance to learn more about the prospect, or to obtain feedback on their site or product offerings. But I think most companies should try harder than that when they play this game. Why not offer a free sample or coupon to anyone who leaves their contact points on your site, or urge them to enter a contest and win a prize?

Business, after all, is more than a succession of rational transactions. To build robust customer relationships in today’s busy markets, you need a little showmanship. Just because your competitors don't use fun, style or surprise as a business tool is no reason you shouldn't. Selling is about differentiation, not conformity.

Back in real life, wringing commitment from tire-kickers has to be a more personal, creative act. You and your employees have to be trained to carefully manage potential purchasers. But how often do businesses let them get away?

Just last week, a friend and I met for drinks. Feeling peckish, he also asked for a menu. When the server returned for his order, my friend said he'd changed his mind – nothing on the menu interested him. A well-coached server would have said, “What do you feel like? Maybe we can help you out.” (Our server ambled back to the kitchen.)

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?” kind of way, but a genuine conversation aimed at solving the prospect’s problems rather than filling your weekly quota.

At the souvenir market in Jamaica, the attendants, like sales people everywhere, asked what I was looking for. That’s the wrong question. (I had no idea. Does anyone go shopping with the intention of buying island-shaped key chains?) They should have asked more focused questions such as “Who are you buying for?,” or, “What have you seen already that you liked? Maybe I can help you find something better.”

If a prospect just won't buy today, don't let them get away. Request their business card, or ask them to fill out their name and address to be notified of your next sale or new-product launch. Maybe, just maybe, you could let them take a sample product home if they promise to bring it right back tomorrow. If you are running out of ideas and your prospect is in a hurry, ask if you can call them back tomorrow with a custom solution.

Better still, develop specific tools for engaging the indecisive. A no-questions-asked returns policy may ease some buyers’ fears. Handing out a binder filled with positive testimonials from satisfied customers will reassure others. For cost-conscious clients, have a strategy ready to bring down the cost of ownership: a “value-priced” line of comparable products, flexible financing, or escalating discounts for multiple purchases.

Your employees may have additional solutions to offer. Why not hold a contest to see who can submit the best ideas for converting prospects into buyers? That will go a long way to building the can-do culture you need.

A successful business owner told me that a new customer recently asked if he could supply a certain product that he had never actually handled before. “What did you tell him?” I asked. “I’m an entrepreneur,” he said. “The answer is always yes.”

What are some common reasons for the failure of startups?

Quora asked me to reply to this question: 

What are some common reasons for the failure of startups? Is it primarily due to poor leadership or a lack of vision? 

I don't think it has much to do with either of those problems. Vision and leadership are both secondary to hard work and experimentation. 

So here is my response to the question...

There are many possible answers to this. I will share three of my favorites:

* Failure to pivot: Every startup is a gamble. It’s an assumption that your business model will find the best product-market fit. But most startup assumptions are flawed – which means you have to test your assumptions as quickly as possible, adjust your offering as best you can, and then test again. This process can take a long time. It’s like threading a needle. There are no shortcuts.

Sometimes founders can be arrogant, and think they know best. Others are willing to pivot once, or twice, but then lose focus and never find the right product-positioning-pricing-distribution model. You must recognize that the market is always right – and you never stop testing.

* Insufficient funds: Startups always take longer and cost more than you expect. Smart entrepreneurs calculate realistic budgets based on everything taking twice as long as they predict, and costing twice as much. Your business will fail if you run out of funds before you find that elusive product-market fit.

* One-channel marketing: Some founders think that if they put up a storefont sign, customers will come. Others think if they can just land that interview with Wired or a review in The New York Times, everything will go great. But there is no magic bullet in business.

You need awesome, mouth-watering marketing messages in multiple channels: storefront, web, search, social media, local radio, trade press, etc. You may think you have the perfect offer, and the right media channel – but you will never know until you test different messages and multiple media.

Starting a successful business is hard. There are many more ways to fail than succeed. 

Patience and preparation separate the winners from the losers. 

A tribute to some of Canada's journalism giants

Like many of you, I no longer subscribe to a paper newspaper. I subscribe to three paper magazines, and many online newspaper news sites - but I rarely peruse a daily newspaper any more.

And I know I am missing so much. Newspapers expose you to headlines and news you didn't know you were interested in, so they broaden your horizon - unlike the skeletal links on a news website. I no longer know what is happening that doesn't make the front page. And among many other things, as I have mentioned recently to friends, I no longer know who is alive or who is dead.

This morbid condition came to my attention today when I watched a few videos from the Canadian Journalism Foundation's annual awards dinner, held last month. One video I watched was the annual "In Memoriam" tribute to journalists who have passed away in the last year -- and I was shocked to see so many names and faces who were giants of journalism, many of whom I looked up to when I was just starting out.

In case you missed the news, here are some of the legendary journalists who passed away in 2023-24. You'll recognize quite a few of them. (I have attached a credit or two to each, but most of them enjoyed many other accomplishments as well.) 

Hail and farewell to:

John Howse: Southam News energy writer, Maclean's magazine

Keith Spicer: Reporter, editor, CRTC chair, and head of the vital Citizens Forum on National Unity (aka the Spicer Commission).

Robert MacNeil: TV newsman who spent most of his career in American media. He was on

the spot when JFK was shot in Dallas in 1963; also anchored the MacNeil Lehrer NewsHour (which later became PBS NewsHour).

Rex Murphy: CBC commentator. 

Helen Brimmel: Guelph journalist who was one of the first women to work in the Parliamentary Press Gallery,

Elizabeth Gray: CBC, former host of The Journal, As It Happens, and Cross-Country Checkup.

Peter C. Newman: Legend. Reporter, book author,  Toronto Star editor, and the editor who turned Maclean's magazine into a newsweekly. 

Joan Hollobon: Pioneering Globe and Mail medical reporter, 1959 to 1985.

Geoff Stevens: National columnist, managing editor, Globe and Mail; CBC political commentator. He once pointed out we had the same haircut.

Susan Kastner: Edgy Toronto Star writer and columnist.

Danny Stoffman: Business writer, movie critic, and co-author of the bestseller Boom, Bust and Echo.

William (Bill) Lawrence: Long-time CBC and CHCH Hamilton TV broadcaster/weatherman. Best known as the host (for 35 years!) of Tiny Talent Time.

Gordon Jaremko: Long time energy journalist, Southam News.

George Gamester: Irrepressible Toronto Star "people" columnist.

Stephen Douglas: Photographer, reporter, journalism teacher; Douglas passed away under murky circumstances in Sierra Leone last December, during a time of violent unrest. He was only 60. 

Here is Douglas's last tweet:  

Artillery fire, gunshots can be heard in my neighbourhood... several times my windows have shook. Gov't says everyone should stay indoors and things are under control.

https://x.com/redpageletters/status/1728672054138790349

Cheers to all these heroes!

You can watch the "In Memoriam" video tribute here.

Or view the CJF's tribute to tech journalist Kara Swisher here.

Ten questions to build sales now

Every business starts as a hypothesis: "We think this market needs this product/service/innovation/angle." 

Through research and experience, you develop a strategy. 

If your business has drifted away from its roots, or you're struggling with strategy, here are 10 questions to help you build your go-to-market plan. Each step will help you figure out how to build the capacity to survive in -- and eventually dominate -- your chosen market.

1.     Who is winning in our marketplace, and why?

2.     What are our customers’ most unmet wants and needs?

3.     What are we really, really good at?

4.     What is the intersection point of what we're good at, what’s working now, and what our customers need most?

5.     What additional insights, skills and resources can we call on from within the organization to press our advantage?

6.     What additional resources, capabilities and contacts can we draw on within our personal and business networks to seize  market leadership?

7.     Bearing in mind all these resources, how can we create maximum value for our clients and prospects in a new way that’s uniquely ours?

8.     How can we test these assumptions in the marketplace this month?

9.    Who will take charge of this initiative? What resources can they draw on?

10 What’s the best way to communicate our new positioning in one or two short, compelling sentences?

Key factors to help you win this battle: Know everything about your customers.

Collaborate. 

Add value. 

Unleash your imagination. 

Move fast.