Unless you have a clear idea how to accomplish your goals, and what the goals are, you might just be chasing elusive dollars
Emily hit the golf ball and started running. Swinging her club mid-stride, she repeatedly hit the ball and kept sprinting toward the first hole. Our yelling and laughter confused her and finally she stopped. “What are you yelling about?” she turned to us defiantly. “You told me that the goal was to get the golf…
Many of the best ideas are the result of “happy accidents” rather than the result of a methodical and structured innovation process
For many would-be entrepreneurs, the only thing standing between them and a booming business is an idea. What product or service? What market? What niche? And, what problem is the idea going to solve? It’s the million-dollar question, but only half the equation. What about aligning the idea with the skills, knowledge, passion and character…
Establish a transition plan after talking to trusted advisers and considering options, and talk to family and key staff
Brian Tracy, the famous sales trainer, has a story he tells about the importance of great questions. Tracy was meeting with an insurance salesman who asked if he had enough life insurance. Since he didn’t want to deal with this man, Tracy assured him he did. As he was finishing the meeting, the salesman asked:…
Bruce Winder of Retail Advisors Network talks about the dramatic evolution taking place in retail and where the marketplace will go next
Bruce Winder is co-founder and partner of Retail Advisors Network. Tell me a little bit about your background and what you do now? Winder: I spent about 20 plus years in big retail at places like Canadian Tire, HBC, Sears and Air Miles before deciding I wanted to explore life outside a head office and…
It’s generally a shortage of customers, not money, that leads to business failure
Owen called me from Philadelphia, “Dave” he said, “my business isn’t working. What can I do? “ Owen really was telling the truth. His business wasn’t working. In fact, he had closed it down only months after opening, having spent hundreds of thousands of dollars, and a couple years of hard work setting it up.…
Make certain the odds are in your favour – think about what your business is or can be better at than your competition
“Which silver car is it?” Tony Kibonge shouted as I tagged a car and he raced by. This race to the silver car was a rematch on another race I had won one cold morning in Stuart Lake, when we had raced through the water up to my chest and Tony’s neck. While I had…
Learning how to start with no, rather than starting with yes or maybe, will boost your business success
The mortality rate for small businesses is scary. Approximately seven out of 10 new small businesses survive at least two years, half almost five years, a third more than 10 years, according to research. And 25 per cent last 15-plus years. The reasons for the high mortality rate changes little year-to-year. High on the list…
Will more money mean we sleep better at night, spend more time with friends and family, or contribute more to society?
There’s a story told that about a financial planner who was on holidays in Mexico. He was walking along the beach when he came to a fisherman sitting on a wharf, his feet hanging off the edge as he played guitar. “Is that your boat?” the planner asked the fisherman. “It is,” he replied. They…
How much more could you achieve in business and life if you just focused on doing fewer things?
I love to read. Ever since I was a young boy, learning to read in the arms of my parents, I have enjoyed the written word. I’m amazed at how the crafted phrase can capture my imagination and open my mind to worlds and ideas I’ve never explored or considered. I read for pleasure, entertainment…
A study released on Tuesday by the Business Development Bank of Canada (BDC) clearly highlights the importance for entrepreneurs having an online presence. Such a presence leads to higher revenues, direct communication with customers and easier access to global markets. But the study finds that only four out of 10 Canadian small and medium-size businesses…