There are unmistakable signs that it is the right time to move on, with more than a few steps to get the transition right
It’s one of the most important decisions you will make. And one of the most difficult. Is it time for you to exit stage left and say goodbye to your business? There are a few unmistakable signs that it is indeed the right time – for you and the business – to move on. You A…
Once negative culture takes root, it's like an invasive weed in your garden; it takes a complete overhaul to return it to health
The best way to create a winning culture in your business is at the beginning. It’s easy to overlook or ignore culture when you’re in the startup phase, because there’s just so much other stuff to worry about. Creating culture is not easy by any stretch. It’s complex, often misunderstood and easy to get wrong. Culture…
These simple steps will help you avoid poor cash flow management - the downfall of many profitable businesses
Your hard work, great ideas, solid customer base, and popular products or services are nothing if you can’t effectively manage your cash flow. It’s one of the biggest challenges for any entrepreneur. “Even a profitable, fast-growing company can face a serious cash flow crunch while waiting for money to come in,” writes the Business Development…
Make sure your vision for a website meshes with your designer's. Otherwise, it could be expensive, frustrating, and devastating to your small business
Every business today needs a website but finding the right team to help build it isn't easy. There is no HomeStars for companies that design and build websites in Canada. We have many clients who've had terrible experiences with website building. Either the strategy for the site doesn’t align with the results, the content doesn’t match…
Are you giving marketing the respect it deserves?
One of the biggest mistakes new entrepreneurs make is to underestimate the power and importance of marketing. Right from the earliest days of a startup, marketing deserves a seat with the big boys: finance, human resources, operations, product development and sales. It shouldn't be an afterthought. And it’s not fluff. “Marketing is a core part of…
Increased productivity leads to a stronger competitive position, higher profits and better quality
Paying attention to productivity leads to better profits in one-third of the Canadian small and medium-sized companies that measure their overall productivity index. Seems like a slam-dunk, doesn’t it? But a 2016 survey of more than 1,500 Canadian entrepreneurs by the Business Development Bank of Canada (BDC) showed that less than half of Canada’s small and…
You may be qualified to run your business, but that doesn’t mean you’re qualified and ready to write your own business plan
You may be qualified and ready to run your business. But that doesn’t mean you’re qualified and ready to write your own business plan. Whether you’re testing the waters on your business idea, looking for funding, or attracting equity investors, the quality of your business plan – and the soundness of your financials – is…
Two simple questions can help you establish the framework of your business and save you headaches down the road
When you’re ready to get going on a new business idea, you need to answer two questions to determine if your business should be a sole proprietorship or a corporation. “Eight out of 10 people who come through my door tell me they don’t know much about business, the CRA (Canada Revenue Agency) or taxes,” says Bill Crysler, an Ontario-based…
You need a clear marketing strategy, prepared staff, the correct giveaways, quick follow-up on leads and plenty of energy
If you aren’t including trade shows in your marketing mix, you may be missing out. Exhibiting at a trade show immediately levels the playing field between you and the other guys, no matter how much bigger, richer or more established they are. Every business pays the same square-footage rate to get in front of people…
If your business isn't delivering top-notch customer or client service today, you’re likely not long for this world
Ensuring you deliver rock-solid client service is key to your future. If your business isn't delivering top-notch customer or client service today, you’re likely not long for this world. In virtually all sectors, competition is fierce and customers can search and switch to the other guy at the drop of a hat. Here are some…