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?
Monday, October 26, 2009
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.
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
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
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.
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 mar
keting, 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.
6. Funky punctuation: Use punctuation sparingly in subject lines. It confuses more often than it clarifies.
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.
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 mar
keting, 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.
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.
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.
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
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/.
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.
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
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?"
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
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."
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."
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
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.")
(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.
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."
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.
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!
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.
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).
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!
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.
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.
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 technolo
gy 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.
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 technolo
gy 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.
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!
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.
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?"
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
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.
----------
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?
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."
"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."
Wednesday, August 05, 2009
Why aren't you on Twitter?
I still run into too many business people who roll their eyes when I suggest they get on Twitter. They think it's one of those things that are only used by teenagers to let people know how awesome their lunch was today.
By that logic, of course, they should also give up their phones, Internet connections and Blackberries.
Twitter is all about being part of a community. Like all good communications media, there are two aspects to it: Talking, and Listening.
"Listening" means following other people on Twitter. When you follow the "tweets" of business colleagues, industry experts, competitors and channel partners, it's like joining an exclusive club: you get up close and personal insights into what they're doing now, what they're seeing and learning, and where they're going next.
Twitter is also viral and transparent. You can quickly see who the people you respect are following on Twitter, and you can choose to follow as many of them as you like.
And if a Twitterer you follow isn't offering you value, you can just stop following them. Easy as that.
By compiling your own list of interesting people to follow, you create a unique, personal community of confidantes, informers and pundits - available to you anytime, 24 hours a day.
In other words, you don't have to Tweet to get a lot out of Twitter.
The "Talking" part of Twitter is making your own regular tweets. This allows you to tell people what you are doing or thinking. In business, this means you get to promote yourself, free, to the Twitterverse, as often as you want, in as much detail as you desire.
Big deal. If no one is following you, who cares?
But here's where the magic begins. When you start Twittering, your audience appears. (It's very Zen-like.)
Slowly at first, one by one, people who are interested in what you say start finding you, through keyword searches or by accident. They sign up to follow you. And slowly it builds.
When people see people they respect following you,they will check you out, and may follow too. The more you Tweet, the more people will find you. And when you say something particularly intriguing, people will "Retweet" you - they'll forward your Tweet to their followers, giving you credit and additional exposure. And thus your community builds.
(There are also, alas, spammers who will seek you out to follow you as a way of promoting their own selfish or sordid interests. But you can identify them readily, and banish them quickly.) (But not for the first week or two, when you want all the followers you can get.)
Businesses big and small are now using Twitter to show off their human face, announce sales and special deals, provide information their customers need, raise awareness of industry issues, and so on. All in 140-character bursts that are easy to write and easy to read.
Go to www.Twitter.com. Sign up to start following people. Don't be a Smuggite, snidely putting down the latest trends just because you don't understand them.
Start building your community today.
By that logic, of course, they should also give up their phones, Internet connections and Blackberries.
Twitter is all about being part of a community. Like all good communications media, there are two aspects to it: Talking, and Listening.
"Listening" means following other people on Twitter. When you follow the "tweets" of business colleagues, industry experts, competitors and channel partners, it's like joining an exclusive club: you get up close and personal insights into what they're doing now, what they're seeing and learning, and where they're going next.
Twitter is also viral and transparent. You can quickly see who the people you respect are following on Twitter, and you can choose to follow as many of them as you like.
And if a Twitterer you follow isn't offering you value, you can just stop following them. Easy as that.
By compiling your own list of interesting people to follow, you create a unique, personal community of confidantes, informers and pundits - available to you anytime, 24 hours a day.
In other words, you don't have to Tweet to get a lot out of Twitter.
The "Talking" part of Twitter is making your own regular tweets. This allows you to tell people what you are doing or thinking. In business, this means you get to promote yourself, free, to the Twitterverse, as often as you want, in as much detail as you desire.
Big deal. If no one is following you, who cares?
But here's where the magic begins. When you start Twittering, your audience appears. (It's very Zen-like.)
Slowly at first, one by one, people who are interested in what you say start finding you, through keyword searches or by accident. They sign up to follow you. And slowly it builds.
When people see people they respect following you,they will check you out, and may follow too. The more you Tweet, the more people will find you. And when you say something particularly intriguing, people will "Retweet" you - they'll forward your Tweet to their followers, giving you credit and additional exposure. And thus your community builds.
(There are also, alas, spammers who will seek you out to follow you as a way of promoting their own selfish or sordid interests. But you can identify them readily, and banish them quickly.) (But not for the first week or two, when you want all the followers you can get.)
Businesses big and small are now using Twitter to show off their human face, announce sales and special deals, provide information their customers need, raise awareness of industry issues, and so on. All in 140-character bursts that are easy to write and easy to read.
Go to www.Twitter.com. Sign up to start following people. Don't be a Smuggite, snidely putting down the latest trends just because you don't understand them.
Start building your community today.
Tuesday, July 28, 2009
Two Startup "Musts": Marketing and Money
Occasionally I get unsolicited letters from entrepreneurs (Canadian and otherwise) asking for advice, and when I can I try to answer them.
This morning an email drifted in from "Andrew", who is running a Web startup in the Middle East. He had addressed his email not just to me, but to some of the most prominent business and entrepreneurship commentators on the Internet.
I admire that kind of pluck. So I decided to try to be the first responder.
Basically, he wanted advice on raising seed capital. Here is what I told him,
Hi Andrew
I have checked out your website, and think you have a great concept in xxxxxx. I wish you luck with it.
I suggest you immediately secure the service, or advice, of an English-language marketing professional. Your letter, and the lack of branding on the site itself, suggest you need a fresh set of eyes to help you more clearly explain your product and how it creates value for people.
As for funds, I don't know what your contacts are, or what the state of venture capital is in your country. In general, though. I think you are best to bootstrap Internet businesses. (See this recent Inc. Magazine article on "ramen profitability".
I think your best source of funds is from family and friends. They are the ones who should believe in your dreams first. And their support can often get your business to a level of success at which point banks or other institutional lenders can get interested.
There is not a lot of information out there on asking for "love money", but here is a link to a story I wrote on the topic last year for MoneySense Magazine.
I wish you all the best!
Rick
This morning an email drifted in from "Andrew", who is running a Web startup in the Middle East. He had addressed his email not just to me, but to some of the most prominent business and entrepreneurship commentators on the Internet.
I admire that kind of pluck. So I decided to try to be the first responder.
Basically, he wanted advice on raising seed capital. Here is what I told him,
Hi Andrew
I have checked out your website, and think you have a great concept in xxxxxx. I wish you luck with it.
I suggest you immediately secure the service, or advice, of an English-language marketing professional. Your letter, and the lack of branding on the site itself, suggest you need a fresh set of eyes to help you more clearly explain your product and how it creates value for people.
As for funds, I don't know what your contacts are, or what the state of venture capital is in your country. In general, though. I think you are best to bootstrap Internet businesses. (See this recent Inc. Magazine article on "ramen profitability".
I think your best source of funds is from family and friends. They are the ones who should believe in your dreams first. And their support can often get your business to a level of success at which point banks or other institutional lenders can get interested.
There is not a lot of information out there on asking for "love money", but here is a link to a story I wrote on the topic last year for MoneySense Magazine.
I wish you all the best!
Rick
Monday, July 27, 2009
Running a business: everything you need, in 1 paragraph
"The principles of running a good business are easily stated in one paragraph: ethics; clear goals; take care of the customer; take care of the employee; product quality and service; innovation; cost control; productivity; sound finance; manage the risk agenda; nimble and flexible; decision-making for the long term; deal with problems; avoid denial; prudence; patience, tone at the top; keep ego out of it; treat everybody the way you want to be treated; beat the competition."
This is the gospel of University of Manitoba prof John S. McCallum, in his recent article, "Executives and the Recession," in the Ivey Business Journal.
Why is he telling people what seems so obvious?
"I have watched management thinking careen through flavours of the day like management by objectives, management by exception, decentralization, Theory X, Theory Y, six sigma, total quality management, reengineering, outsourcing and a gem I especially like, management by walking around. But these principles are about it! Would they were as easily executed from day to day as stated!"
You can read the full article here.
This is the gospel of University of Manitoba prof John S. McCallum, in his recent article, "Executives and the Recession," in the Ivey Business Journal.
Why is he telling people what seems so obvious?
"I have watched management thinking careen through flavours of the day like management by objectives, management by exception, decentralization, Theory X, Theory Y, six sigma, total quality management, reengineering, outsourcing and a gem I especially like, management by walking around. But these principles are about it! Would they were as easily executed from day to day as stated!"
You can read the full article here.
"We Rise Again"
My "low-content mode" this month means it must be another Canadian summer.
What could be more Canadian than Anne Murray, Rita MacNeil, the Rankins, the Gospel Heirs and the Men of the Deeps? All together on a Cape Breton cliff above the sea?
Singing "We Rise Again?"
Enjoy the video.
What could be more Canadian than Anne Murray, Rita MacNeil, the Rankins, the Gospel Heirs and the Men of the Deeps? All together on a Cape Breton cliff above the sea?
Singing "We Rise Again?"
Enjoy the video.
Wednesday, July 22, 2009
Takin' Care of (Your) Business
Did you ever wonder what goes on in those confidential peer boards run for entrepreneurs by organizations such as YPO or TEC?
On behalf of the Financial Post, I recently got a rare chance to observe a peer group run by The Alternative Board. Lots of interesting insights into how entrepreneurs learn and solve problems.
Here's an excerpt:
Anton, who's in the advertising business, has good and bad news. His marketing efforts are paying off, but he's getting more calls than he can handle. "I think I've bitten off more than I can chew," he says. It turns out he's been getting too involved in physical production, and taking his eye off the motivational side of his job. Around the table, heads nod. It's easy to say, "Work on the business, not in it," but hard to do -- especially if you secretly prefer that work.
You can read this top-secret story in the Post here: http://www.financialpost.com/small-business/story.html?id=1810495
On behalf of the Financial Post, I recently got a rare chance to observe a peer group run by The Alternative Board. Lots of interesting insights into how entrepreneurs learn and solve problems.
Here's an excerpt:
Anton, who's in the advertising business, has good and bad news. His marketing efforts are paying off, but he's getting more calls than he can handle. "I think I've bitten off more than I can chew," he says. It turns out he's been getting too involved in physical production, and taking his eye off the motivational side of his job. Around the table, heads nod. It's easy to say, "Work on the business, not in it," but hard to do -- especially if you secretly prefer that work.
You can read this top-secret story in the Post here: http://www.financialpost.com/small-business/story.html?id=1810495
Monday, July 20, 2009
One small step for a man...
July 20th, 2009 marks the 40th anniversary of the first lunar landing by Apollo 11 and its intrepid crew: Armstrong, Aldrin and Collins.
It turns out that Canadians played a big role in making the moon landing happen.
At a press conference today at the Canadian Air and Space Museum at Downsview Park in Toronto, the contributions of Canadians to this great endeavour will be celebrated for the first time.
* Did you know a Canadian, Owen Maynard, was in charge of NASA’s Lunar Module Program and played a key role in the design of the lunar module?
* Apollo 11 astronaut Buzz Aldrin thanked two former Avro Arrow engineers for their contributions to the success of the Apollo 11 mission.
• More than 25 Canadian engineers left for NASA following the cancellation of the Avro Arrow in 1959, making an indelible mark on the manned space program.
Present at the conference will be Canadian astronauts Roberta Bondar and Bjarni Tryggvason, Avro Arrow Chief Design Engineer Jim Floyd, and Chris Gainor, author of Arrows to the Moon. Along with Canadian aerospace legends and test pilots.
Sounds very, very cool. Hopefully, we will all learn more on the TV news and in the papers.
Plus there will be special messages from Buzz Aldrin, Apollo 15 commander David Scott, and some guy named Harrison Ford. (He will probably be bragging about making the Kessel run in less than 12 parsecs.)
It turns out that Canadians played a big role in making the moon landing happen.
At a press conference today at the Canadian Air and Space Museum at Downsview Park in Toronto, the contributions of Canadians to this great endeavour will be celebrated for the first time.
* Did you know a Canadian, Owen Maynard, was in charge of NASA’s Lunar Module Program and played a key role in the design of the lunar module?
* Apollo 11 astronaut Buzz Aldrin thanked two former Avro Arrow engineers for their contributions to the success of the Apollo 11 mission.
• More than 25 Canadian engineers left for NASA following the cancellation of the Avro Arrow in 1959, making an indelible mark on the manned space program.
Present at the conference will be Canadian astronauts Roberta Bondar and Bjarni Tryggvason, Avro Arrow Chief Design Engineer Jim Floyd, and Chris Gainor, author of Arrows to the Moon. Along with Canadian aerospace legends and test pilots.
Sounds very, very cool. Hopefully, we will all learn more on the TV news and in the papers.
Plus there will be special messages from Buzz Aldrin, Apollo 15 commander David Scott, and some guy named Harrison Ford. (He will probably be bragging about making the Kessel run in less than 12 parsecs.)
Wednesday, July 15, 2009
Canada in a fog as tech heads for the cloudsphere
Alex Carrick is the inquisitive chief economist for Reed Construction Data in Toronto. Apparently tiring of the bad news in the development industry, he wrote an article recently on the glowing outlook for the tech sector. He’s genuinely excited about the “sweeping nature” of tomorrow’s technological advances.
Here’s a brief recap of his analysis.
· The Web Keeps Changing the World: Social networking sites (Facebook, Twitter and LinkedIn) have grown into business promotional and information-sharing sites, as well as job-search sites. During the recent political upheavals in Iran, Twitter became a primary means for people to communicate their dissatisfaction with the official election results. In a related example, China has just backed down on requiring PC makers to install web-filtering technology on all computers sold in the country.
· In the construction industry, Building Information Modeling is about to change the way buildings are designed and constructed. People simply understand things better when they see them in 3D.
· Canada is at a Disadvantage. Since many technology products (see: Kindle) arrive in Canada a year or more later than in the U.S., our developers face a disadvantage. More than 25,000 applications have been written for the iPhone; Canadians firms were held back from the get-go.
You can read the full article here. Or visit http://www.alexcarrick.com/ to read Carrick’s personal blog
Here’s a brief recap of his analysis.
· The personal computer may be on its way out. The next wave in personal computing is “cloud” technology. This is where applications and software reside somewhere other than on a PC. Computing functions and files are increasingly being stored on server space rented from others. As a result, many executives can now run their companies in the field from their cell phones.
· Retail is being Turned Upside Down. Even video outlets are being slammed by the Internet. And the latest version of Amazon’s Kindle wireless reading device is expected to alter the book publishing industry.
· The Web Keeps Changing the World: Social networking sites (Facebook, Twitter and LinkedIn) have grown into business promotional and information-sharing sites, as well as job-search sites. During the recent political upheavals in Iran, Twitter became a primary means for people to communicate their dissatisfaction with the official election results. In a related example, China has just backed down on requiring PC makers to install web-filtering technology on all computers sold in the country.
· In the construction industry, Building Information Modeling is about to change the way buildings are designed and constructed. People simply understand things better when they see them in 3D.
· Canada is at a Disadvantage. Since many technology products (see: Kindle) arrive in Canada a year or more later than in the U.S., our developers face a disadvantage. More than 25,000 applications have been written for the iPhone; Canadians firms were held back from the get-go.
You can read the full article here. Or visit http://www.alexcarrick.com/ to read Carrick’s personal blog
Tuesday, July 14, 2009
100 Non-Business Books Every Entrepreneur Should Read
What does it take to be a well-rounded entrepreneur? The folks at self-help site http://www.onlineuniversities.com/ have just produced a list of the 100 Non-Business Books Every Entrepreneur Should Read.
The anonymous writers claim that while there are hundreds of business books that can help you become better business people, “some of the most useful ones aren’t obviously meant for business at all. You can build your communications, relationship, and presentation skills, and even set yourself up for success by reading books your professor wouldn’t think of assigning you.”
Frankly, there's a lot of repetition and nonsense on this list. But here are a dozen of the most worthwhile books on the list, specially chosen by me because a) I have read them, or b) I think I should:
1. The Elements of Style: Write and communicate clearly with the help of this book.
2. Difficult Conversations: Thrive in difficult conversations.
3. Getting to Yes: Improve your negotiation skills.
4. If It Is To Be It’s Up To Me: Develop the attitude of a true leader.
5. The Fountainhead: Ayn Rand’s classic novel on individual strength and the temptations of compromise.
6. The 7 Habits of Highly Effective People: Improve your personal effectiveness.
7. The Power of Positive Thinking: The power of confidence.
8. What to Say When You Talk to Yourself: How you can become what you tell yourself.
9. Influence: The Psychology of Persuasion: This book explains the psychological foundations of influencing people.
10. The Millionaire Mind: Make your mindset more like a millionaire’s.
11. The Now Habit: Create your own program to overcome procrastination.
12. The Art of War: Learn how to gain advantage of your opponents in any situation.
Click here to read the full article and see how many of these 100 books you have read – or ought to.
The anonymous writers claim that while there are hundreds of business books that can help you become better business people, “some of the most useful ones aren’t obviously meant for business at all. You can build your communications, relationship, and presentation skills, and even set yourself up for success by reading books your professor wouldn’t think of assigning you.”
Frankly, there's a lot of repetition and nonsense on this list. But here are a dozen of the most worthwhile books on the list, specially chosen by me because a) I have read them, or b) I think I should:
1. The Elements of Style: Write and communicate clearly with the help of this book.
2. Difficult Conversations: Thrive in difficult conversations.
3. Getting to Yes: Improve your negotiation skills.
4. If It Is To Be It’s Up To Me: Develop the attitude of a true leader.
5. The Fountainhead: Ayn Rand’s classic novel on individual strength and the temptations of compromise.
6. The 7 Habits of Highly Effective People: Improve your personal effectiveness.
7. The Power of Positive Thinking: The power of confidence.
8. What to Say When You Talk to Yourself: How you can become what you tell yourself.
9. Influence: The Psychology of Persuasion: This book explains the psychological foundations of influencing people.
10. The Millionaire Mind: Make your mindset more like a millionaire’s.
11. The Now Habit: Create your own program to overcome procrastination.
12. The Art of War: Learn how to gain advantage of your opponents in any situation.
Click here to read the full article and see how many of these 100 books you have read – or ought to.
Monday, July 13, 2009
Changing the World
Alain Theriault is a thoughtful and bilingual startup coach in Montreal. He used to blog more than he does, but now he puts most of his thoughts and resource recommendations on Twitter.
(I think most of us bloggers will go the way of Twitter eventually. It's so much easier to write one or two sentences than entire coherent pragraphs.)
Anyway, this morning Alain reTweeted a quote that I think is just brilliant. So I wanteds to share it with you.
"Everyone thinks of changing the world, but no one thinks of changing himself."
~Leo Nikolaevich Tolstoy
(I think most of us bloggers will go the way of Twitter eventually. It's so much easier to write one or two sentences than entire coherent pragraphs.)
Anyway, this morning Alain reTweeted a quote that I think is just brilliant. So I wanteds to share it with you.
"Everyone thinks of changing the world, but no one thinks of changing himself."
~Leo Nikolaevich Tolstoy
"Recap" for sales success
Here's a great idea for a Monday morning, from my buddy Kelley Robertson of Fearless Selling. It's not new, but still very powerful.
"Want to impress your prospects and customers? Learn to recap or summarize periodically during your sales conversations."
The process is simple: once you have asked your prospect the probing questions that help you clearly understand their problem, ask for permission to recap what you've just been told. The size of the company, the nature of the problem, the telling details of their pain - all the pertinent details, expressed quickly and sympathetically.
"This deceptively simple technique is effective for several reasons," says Robertson. It forces you to listen carefully, and shows the prospect you've been paying attention. Third, "it helps you clarify in your own mind what your customers' key issues are."
"Develop the habit of recapping during your sales conversation," says Robertson, "and I guarantee that your sales will increase."
Follow Kelley Robertson's advice-filled blog at www.kelleyrobertson.blogspot.com/
Special bonus: What do you do when someone asks, “What’s your best price?” Click here to read Kelley's solution.
"Want to impress your prospects and customers? Learn to recap or summarize periodically during your sales conversations."
The process is simple: once you have asked your prospect the probing questions that help you clearly understand their problem, ask for permission to recap what you've just been told. The size of the company, the nature of the problem, the telling details of their pain - all the pertinent details, expressed quickly and sympathetically.
"This deceptively simple technique is effective for several reasons," says Robertson. It forces you to listen carefully, and shows the prospect you've been paying attention. Third, "it helps you clarify in your own mind what your customers' key issues are."
"Develop the habit of recapping during your sales conversation," says Robertson, "and I guarantee that your sales will increase."
Follow Kelley Robertson's advice-filled blog at www.kelleyrobertson.blogspot.com/
Special bonus: What do you do when someone asks, “What’s your best price?” Click here to read Kelley's solution.
Friday, July 10, 2009
eBay Canada launches Entrepreneur of the Year search
By redefining the way people buy and sell stuff, eBay has launched a lot of new businesses. And yesterday eBay Canada launched its fifth annual Entrepreneur of the Year Awards program, to identify Canada’s most successful and entrepreneurial eBay sellers.
This year eBay has also created a "Comeback of the Year" Award, for the entrepreneur who has overcome a recent personal or professional challenge.
Last year’s Entrepreneur of the Year winner was Bryan Hellwig of Iqaluit, Nunavut, who sells Inuit and Northern art online. You can find him on eBay under the name ringseal.
The winner of the 2009 Entrepreneur of the Year Award title will receive:
* $2,000 cash
* $2,000 cash
* $500 towards a business-related course or workshop
* $500 in eBay AdCommerce advertising credits
* $500 in eBay AdCommerce advertising credits
The winner of the Comeback of the Year Award title receives $1,000 cash, plus $500 towards a business-related course or workshop, and $500 in eBay AdCommerce advertising credits.
Entries must be submitted by August 9, 2009. For more information or to enter, visit: www.ebay.ca/entrepreneurs
Did you know? eBay members trade $2,000 worth of goods every second. Out of 24 million Internet users in Canada, one in four is registered on eBay.
Thursday, July 09, 2009
The Epic Struggle of Jack Poole
Between now and the end of February, you'll hear a lot about Jack Poole, the chairman of VANOC, the organizing committee of the 2010 Winter Olympics in Vancouver.
But before heading up one of the best-organized Games committees ever, Poole was a classic Canadian entrepreneur: a hard-working Saskatchewan boy who made and lost a fortune in Western real estate through Daon Development (remember them?). He has since emerged as one of BC’s top entrepreneurs and philanthropists, and a survivor of pancreatic cancer.
Poole’s story is told in an inspiring article by Gary Mason in BC Business (“Never Say Quit”). You can read it online by clicking here.
To whet your appetite, here are a few of Poole’s quotes from the story:
“It was a real lesson for me. Never keep secrets from your banker.”
“I don’t have any money, but I’ll sign over everything I’ve got.”
“We were extremely successful but had not factored into our plans the recession of 1982 and interest rates of 23 per cent.”
“I came from nothing. And I can go back to that. I can. But if you want me to stay and work this thing through, I will. If you don’t, I’m happy to leave. But don’t threaten me.’”
“My personal wealth went from a paper worth of $100 million to a negative worth of $5 million.”
“I’d never go that route again.”
“One of the things God gave me was the ability to recognize talent, and it’s been one of my great strengths. Anything I’ve achieved is because of the people I’ve hired to do it."
“Every time you win something, it has to hurt a bit, doesn’t it?”
Yes, it's a business profile that reads like a movie. Read the story here right now.
But before heading up one of the best-organized Games committees ever, Poole was a classic Canadian entrepreneur: a hard-working Saskatchewan boy who made and lost a fortune in Western real estate through Daon Development (remember them?). He has since emerged as one of BC’s top entrepreneurs and philanthropists, and a survivor of pancreatic cancer.
Poole’s story is told in an inspiring article by Gary Mason in BC Business (“Never Say Quit”). You can read it online by clicking here.
To whet your appetite, here are a few of Poole’s quotes from the story:
“It was a real lesson for me. Never keep secrets from your banker.”
“I don’t have any money, but I’ll sign over everything I’ve got.”
“We were extremely successful but had not factored into our plans the recession of 1982 and interest rates of 23 per cent.”
“I came from nothing. And I can go back to that. I can. But if you want me to stay and work this thing through, I will. If you don’t, I’m happy to leave. But don’t threaten me.’”
“My personal wealth went from a paper worth of $100 million to a negative worth of $5 million.”
“I’d never go that route again.”
“One of the things God gave me was the ability to recognize talent, and it’s been one of my great strengths. Anything I’ve achieved is because of the people I’ve hired to do it."
“Every time you win something, it has to hurt a bit, doesn’t it?”
Yes, it's a business profile that reads like a movie. Read the story here right now.
Sign of Progress?
"At Harvard, informal debates are said to be breaking out in faculty lounges about whether professors should focus more on teaching students how to run businesses that are sustainable in the long term, rather than just pawning off the latest hedging techniques."
That's Bradford Plumer, writing in The New Republic, on business schools' growing feeling of responsibility for the financial crisis.
One Harvard professor confesses that business schools still need to begin a conversation about their broader purpose in the world—a question that involves pondering “the fundamental relationship between the economy and society.”
Read the full story here: First, Kill All the MBAs .
That's Bradford Plumer, writing in The New Republic, on business schools' growing feeling of responsibility for the financial crisis.
One Harvard professor confesses that business schools still need to begin a conversation about their broader purpose in the world—a question that involves pondering “the fundamental relationship between the economy and society.”
Read the full story here: First, Kill All the MBAs .
Wednesday, July 08, 2009
WANTED: Young, Fast-Growing Companies
If you run a young, fast-growing business, or you know someone who does, PROFIT Magazine WANTS YOU!The deadline is coming up fast to submit candidates for the PROFIT HOT 50, the definitive list of Canada’s Emerging Growth Companies.
Now in its 10th year, the Hot 50 ranks companies by two-year revenue growth (year-end 2006 to year-end 2008). It's a cool list of the country's next generation of growth stars!
A PROFIT HOT 50 ranking can inspire your staff, attract new clients and investors, and spark relationships with other dynamic companies. HOT 50 companies receive:
* coverage in the October 2009 issue of PROFIT Magazine and online year-round at PROFITmagazine.ca;
* Plus, a complimentary invitation to GrowthCamp, an exclusive three-day summit at which PROFIT HOT 50 leaders share ideas, learn from experts and make valuable contacts.
Since I started this program, and GrwothCamp, I gotta tell you: people swear it's the most incredible business event they've ever attended.
If your firm was launched in 2005 or 2006, enter the PROFIT HOT 50 today! The entry deadline is July 10, 2009 (that'd be Friday).
For more information or to enter online, visit http://www.profitguide.com/awards.
Or call 1-800-713-GROW.
(Okay, one last story. In the mid-1990s, we had to fight hard at PROFIT to get one of the last good 1-800 numbers (713-GROW).The experience was so interesting that we even wrote a short article on the growing competition for cool toll-free numbers. At the time, few people realized there was a number shortage, and a growing secondary market.
Little did we know then that the smart money was already buying up Web addresses....
Sigh.)
Need help with your R&D projects?
My column this week in the Financial Post looks at a brave new resource for innovative businesses: a government-funded program that helps connect innovative companies with grad students interested in doing commercial R&D.
The program, MITACS’ Accelerate, is bridging the gap between Canada’s universities and its private-sector innovators. Last year the program created 600 placements, and this year it’s expected to arrange 1300 more!
Excerpt:
"The beauty of Accelerate is it's made for companies of any size, but priced for small businesses. A four-month internship costs companies $7,500 (federal and provincial governments chip in to match that amount, thus meeting Accelerate's fee of $15,000). For that price, a company gets help describing its project, links to the best sources of help, the services of a grad student for four months (including some expenses), and hands-on monitoring by a university professor."
For the full story, click here.
The program, MITACS’ Accelerate, is bridging the gap between Canada’s universities and its private-sector innovators. Last year the program created 600 placements, and this year it’s expected to arrange 1300 more!
Excerpt:
"The beauty of Accelerate is it's made for companies of any size, but priced for small businesses. A four-month internship costs companies $7,500 (federal and provincial governments chip in to match that amount, thus meeting Accelerate's fee of $15,000). For that price, a company gets help describing its project, links to the best sources of help, the services of a grad student for four months (including some expenses), and hands-on monitoring by a university professor."
For the full story, click here.
Wednesday, July 01, 2009
On Guard for Whom?
Happy Canada Day!
Kudos to Wellington Financial for identifying a worrying trend yesterday: a steep decline in bank lending.
In their blog post, Bank business lending down for 5th consecutive month, the Toronto-based supplier of bridge financing & venture debt dug into the latest Bank of Canada data and discovered that "the stats aren’t pretty."
Here are the totals of “Business loans to Canadian residents for business purposes:”
December 2008: $191.967 billion
January 2009: $186.086 billion
February 2009: $184.168 billion
March 2009: $184.5 billion
April 2009: $182.228 billion
May 2009: $180.619 billion
As Wellington points out, "A 5% drop in drawn business credit in the space of 5 months."
And as they ask, "what’s a $100 million line of credit program from the Business Development Bank of Canada (only for “strong balance sheets”) going to do in the face of a 5-month, $12 billion withdrawal from the system? By the time the program is up and running, loans will have been reduced by another few billion dollars."
As Wellington concludes, "The free market is doin’ its thing, and there is nothing anyone can do to stop it." Though that strikes me as a non-entreprneurial sentiment.
Kudos to Wellington Financial for identifying a worrying trend yesterday: a steep decline in bank lending.
In their blog post, Bank business lending down for 5th consecutive month, the Toronto-based supplier of bridge financing & venture debt dug into the latest Bank of Canada data and discovered that "the stats aren’t pretty."
Here are the totals of “Business loans to Canadian residents for business purposes:”
December 2008: $191.967 billion
January 2009: $186.086 billion
February 2009: $184.168 billion
March 2009: $184.5 billion
April 2009: $182.228 billion
May 2009: $180.619 billion
As Wellington points out, "A 5% drop in drawn business credit in the space of 5 months."
And as they ask, "what’s a $100 million line of credit program from the Business Development Bank of Canada (only for “strong balance sheets”) going to do in the face of a 5-month, $12 billion withdrawal from the system? By the time the program is up and running, loans will have been reduced by another few billion dollars."
As Wellington concludes, "The free market is doin’ its thing, and there is nothing anyone can do to stop it." Though that strikes me as a non-entreprneurial sentiment.
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