As you start to use online advertising for your business, you’ll need to know how much to budget. As a general rule, you should spend five per cent of total revenue on marketing. That will maintain your current position (in this case, on your online platforms). If you want to grow or gain greater market…
A lack of employee accountability leads to a lack of production and profitability, a loss of morale and high staff turnover
A few years ago, I was working with a construction company that had an issue with projects not completed on time. There was general frustration among the workers because one of the foremen – the owner’s son – would sleep in his truck during working hours. Supplies weren’t being picked up on time, safety meetings…
Investing is a process and not a speed dating event. If you develop relationships with investors, you’ve got a much better shot of closing the deal
Getting a “no” from any prospective investor can be hard to take. At first glance, it’s insulting. You’ve poured heart and soul into an idea and after 10 minutes of pitching, the investor doesn’t want to hear more. For the entrepreneur who wears the success or failure of his company as a reflection of their…
Hashtags require a lot of research so you’re using a variety of strategies, such as your location, industry trends, popular sayings
The last of the big four platforms I want to talk about is Instagram. Instagram started in 2010 (it was purchased by Facebook in 2012) and was primarily a photo sharing app. At that time, it wasn’t easy to share photos; phones didn’t have an easy way to share, and other social platforms weren’t designed…
People who find ways to make a difference in the lives of others have a sense of satisfaction and fulfilment
A certain young man spent five years in university, graduating with a professional degree. He then started down his career path, in search of success and fulfilment, with hopes of changing the world for the better. But it wasn’t long before a harsh reality set in: What started out as a passion became a task…
Building relationships with prospects is crucial to long-term business growth. And it all comes down to trust and commitment
“Real clients put skin in the game” is an adage used in the business training I’m a part of. The adage identifies if you’re connecting with a qualified prospect. Are they committed to doing something you’ve asked (e.g. complete key forms prior to the meeting)? While we business owners ask this of our prospects, are…
Encouraging everyone to look at what they’re doing through a mission lens can help your entire organization
I often find inspiration for my column from something I’ve read or heard. This month’s column was inspired by a podcast with Tobi Lütke, co-founder and CEO of Shopify. Shopify has been on a tear lately, overtaking even RBC to become Canada’s most valuable company. As a very small shareholder, I couldn’t be happier for…
SMEs are resilient, entrepreneurial and resourceful. With the right support, they will rebuild, transition and diversify
Nobody has been hurt more in this pandemic-inflicted economy than the small to medium enterprise (SME) sector. Closures, reduced hours and layoffs because of COVID-19 have impacted the vast majority of small businesses. Up to 30 per cent report that they will not survive the next 30 days without government assistance. The uncertainty of just…
Don’t wait to communicate – customers are looking for reassurance right now and you can highlight your efforts
Now that the provinces are starting the stages of reopening, business owners everywhere are flipping that Closed sign to Open. And whether you’re offering a product or a service, you need to let your audience (users, customers, fans) know what you’re doing. Don’t wait to communicate – customers are looking for reassurance right now and…
Using practical measures to test the validity of our creative output is even more essential than the creativity itself
When I was a boy, our family of eight lived in a small house. In the corner of the basement was an art room for my father. In the evenings and sometimes on weekends through long winters, he would go down and work on his oil paintings. I remember watching him as he mixed his…