Back to school season brings an overwhelming sense of realization. After enjoying the greatest Summer of all, we are back to reality and here comes responsibilities of- kids going back to school, routines back in place and entrepreneurs returning back to business. As the kids return back to the new norm, adults try to catch up with business responsibilities kept on the back burner during the Summer. This can be a very overwhelming period for most businesses, but don’t worry, we have prepared 5 Pro strategies to help your business thrive. Time to set a plan: understandably, you might have let some interesting opportunities and business maintenance slip while you were away. It is time to get back on track and recover some of what might still be at reach before it results in penalties. Make a list of opportunities that were available while you were away and try…
Irish folklore is full of stories and fables about leprechauns, fairies and other wee people who are responsible for mischief and miracles as people embark on journeys to find the pot of gold at the end of the rainbow. Has anyone ever discovered that elusive pot of gold at the end of the rainbow? Can you even find the end of the rainbow? Science folks explain that rainbows are made in the sky and never touch the ground so finding the end of the rainbow is not possible (The Naked Scientist https://www.thenakedscientists.com/articles/questions/where-does-rainbow-end) Many business owners are also on their fantasy path seeking a pot of gold when they eventually exit their business. Is this pot of gold a mirage too or is it more tangible and realistic? Only time will tell. In any market, prices are a factor of supply and demand. Anyone who has taken an introductory economics course has learned the…
No one likes to think about planning for an eventual exit. Either from a job, a business, a volunteer role, or even the final exit, death. For many people, it’s on the “someday” list. Someday, I’ll get a will done. I’ll pay more attention to my health, I’ll work less and enjoy other aspects of my life more. Someday… We have learned many things throughout the Covid 19 pandemic, one is that “someday” may come out of the blue and catch us unprepared. Many of those who were hospitalized or passed away “before their time” were people who had not planned to “exit”. Some were business owners. Some were business owners who still managed and worked in their own businesses; whereas others had achieved “hands-off” status and were still owners. As in many areas of our lives, the more prepared we are for different scenarios, the faster we can respond…
“I have an idea I’d like to share with you. I’ve been thinking of ways to grow my company because it is more valuable than one that’s not growing. Well, I am considering two options. Option 1 offers a new service to my existing clients, or option 2, which is expanding into new locations. I’m leaning towards option 2 – a new location. What do you think? Think that’s a good idea?” As I tell all my clients who ask me this question, the idea might be just fine, but you need to decide if it is feasible – for you at this time. These are the core elements of any feasibility study: What does success look like? Can you validate that there is a market for it? Does this solve a real need? Can you resource it? Is the payoff worth it? Can you be competitive in this space?…
“One of the effects of living with electric information is that we live habitually in a state of information overload. There’s always more than you can cope with.” (Marshall McLuhan, “Understanding Me: Lectures and Interviews”, 2003) I can’t tell you how many times I am asked for suggestions and ideas on how entrepreneurs and professionals can better manage their emails, especially client-related communication. The Problem: You’re using a communication tool to be a relationship management tool. Problem Assessment: You spend time searching your emails to find attachments, instructions or messages to and from clients. You think you need to better manage your email when in reality you need to integrate client management/knowledge management into your processes and systems. Most client management systems have integrations with popular email providers such as Gmail and Outlook. The purpose of a client relationship management system is to capture and track client-related communication (or prospective…
You know how you thought that owning a successful business would give you the freedom and lifestyle you wanted for you and your family? And now you’re having doubts that you can make it a reality. You aren’t ready to give up, but you’re feeling guilty about the toll it’s taking on your family. You’re afraid that your partner is going to throw in the towel, and you’ll lose everything you’ve worked for – both your family AND your business. You feel guilty about missing family events, never having time to tackle the “honey-do” list, you miss special moments (like putting the kids to bed) and you don’t even discuss vacations anymore. Sound familiar? You feel stuck in your business, and unable to scale it in such a way that would allow you to focus your time on strategy. You’re feeling unappreciated at home, misunderstood and frustrated. And that was…
The nasty flu season impacts people around the world. It’s a sober reminder that people drive our economies, businesses and communities forward. The truth is that all business owners need to lead considering the impact of potential events on the bottom line – whether those be events within their control, or those similar to that of the recent corona virus outbreak; which are outside of their control. We hope that your business is able to weather the impacts of the COVID-19 virus! Businesses can get hit hard in several ways when flu season hits. As we’ve seen first-hand here in Alberta – when people stop travelling, the demand for fuel slows. Without a demand for fuel, the price of oil is lowered and shares in oil stock decline. And, unfortunately, us Albertans know what that means – layoffs! In the case of COVID-19, we are also seeing a decline in overall business…
Mindset. Beliefs. Psyche. Whatever you call it, it’s what makes you tick. Beliefs propel us forward. Beliefs hold us back. Great business leaders continually question their belief systems searching for those that no longer serve them, need to be tweaked or outright abandoned. You’re human, right? The toughest obstacle you’ll face on your way to achieving your goals is YOU. You’ll need to battle your own mind (cue the scary music). Our mind has several tricks up it’s sleeve to convince us of things that are not really true. You believe your mind is your friend. And as our friend, it has our best interest at heart, right? Nope! Remember, your mind also tricks you into creating bad habits, takes you down the road to temptation and can’t resist brain crack distractions like social media! You might be wondering, “How’s my mind out to get me?” Here’s how: Your mind lies to…
Your firm might be suffering from tactic-itis and you don’t even know it. How can you diagnose what ails your firm? The primary symptoms are lots of action without corresponding results. Success is elusive. What’s missing? Great packaging of your products/services? Focused resources on key priorities? Effective prospecting activity? Targeted outreach? Great sales process? Leverage? Nope, you’ve on the right track with all the areas listed above. Still not sure? The missing link is STRATEGY. Without a clear competitive strategy there is lack of alignment. Unlock the success your firm was created to generate for your customers, your team, your suppliers, your community and your shareholders. Time to start is today. Book a complimentary consultation with us: your trusted business advisors. What are you waiting for?
Imagine you won the lottery that deposited $86,400 into your bank account each morning and emptied it each night regardless of whether there were funds remaining in the account. No carry over. You could spend or invest the funds as you liked. The same happens each day. You get 86,400 seconds to use each day. How much of that time is wasted? How much is effectively invested in activities that bring you closer to achieving your goals? Every day you and your employees waste time looking for documents, resources and information. Time is wasted with re-work, extra trips and unproductive meetings. A McKinsey study reported that 1.8 hours on average is spent each day looking for information. Let’s cut that down! Quit Wasting Time Tips Document your processes – make them easy, fast and effective. if they’re not documented, they don’t exist. Onboard and effectively develop employees – Firms often…
Why Celebrating Wins Makes You A Better Leader Sure, you’ve heard it at every goal-setting and leadership session you’ve attended… “Celebrate WINS”. But do you know why it makes you a better leader? If you pay lip service to your team’s successes without recognition, what does that say about you as a leader? How do you think employees feel about a leader who doesn’t appreciate their efforts? Those perceptions may also reflect on the company’s ability to attract and retain the talent it needs. 7 Reasons Why Leaders Should Celebrate Wins It reminds you why the goal was important in the first place. When people apply themselves to the task at hand, they may forget why it was important at all. Taking time to celebrate the win reinforces the WHY behind the activities. It reminds you that a good goal-setting process works. Success inspires individuals to repeat actions that led…
The Beginning. The End. The In-Between. Get a pen and paper. Ready? As quickly as you can, without thinking, jot down everything that ENDED in 2018. What was over? What did you give up on? What did you just plain STOP doing? What habits did you break? Make another list. This time jot down everything you STARTED in 2018. What began? What new habits did you adopt? What decisions did you make? What relationships started Which list makes you happiest? Why? We are HUMAN BEINGS. We are forever in the process of becoming the being we were meant to be. We are getting closer and closer to fulfilling our life’s purpose. As one year comes to an end, reflect on the achievements, however big or small they may seem. Dedicate some time to creating a list of 10 or more positive, affirmative statements that you are becoming in 2019. We…