Success is helping others with their dreams.
Sometimes we get so enamored with our business, our work, our goals that we forget to listen to other peoples' stories. The holiday season is a reminder to listen to others talk about their dreams; their hopes and aspirations; their fears and concerns.
It is quite humbling NOT to think about business for a period of time. It helps develop perspective. It helps me be more understanding towards others.
Here’s wishing that this time of year is filled with heartfelt stories that bring you closer together with family, friends and acquaintances.
Happy Holidays. Merry Christmas.
Cheers,
Dominik
Wednesday, December 24, 2008
Friday, December 19, 2008
Forgetful Fridays- Get Some Shut Eye
Having trouble sleeping? That’s a common story among business owners- especially with all the bad news we are hearing about the economy. Each of us will have dozens of reasons to worry the night away and get little rest, but it never helps in the long run. So how do you stop this pattern?
Hoping and wishing for the day when you have no worries- is just that- a hope and a wish. The nature of business is that worries will continue to be there- the key is in how you learn to manage these worries.
The suggestion that I have found works best for me and my advisory clients is to create a worry journal. Write down all of those thoughts swirling around in your head before bed- get it out on paper and don’t hold back. Large worries, small worries- they all have a place in this journal. Close it and put it away in a desk drawer.
Then take this exercise to the next level by writing an achievement journal. Write about all that you have done to reach your goals and make your dreams happen. Pat yourself on the back and focus on the positive. When you feel you are ending on a high note that makes you feel satisfied, mindfully close the journal and keep it close to your bed.
By ending each day with positive thinking rather than focusing on your worries, you should see an improvement in the quality and quantity of sleep you are getting.
Forgetful Fridays Lesson #5- Clear your mind, get some sleep.
Thursday, December 18, 2008
Thoughtful Thursdays - Why Don't You Return My Calls?
I had lunch recently with a long-time friend and business colleague. Conversation eventually came around to the economy as it often does these days. At this point in time they have not felt any negative effects as a result of the current economic conditions.
Frankly, I was not surprised to hear that sales continue to meet their objectives. In fact I expect they will weather the economic storm we are experiencing quite well. It is not because they have a unique recession proof product offering, rather it their approach to sales that is key - never leave any stone unturned.
Why is it that people do not return calls to potential customers? I experienced this phenomenon personally recently, heard of another instance from a client this week, and at lunch my friend related a similar story.
Today's thought is: Don't even think about not returning a potential customer's call. Return the call and do it the same day. In most cases you will be able to leave a voice mail if it is after business hours.
Even if you do not have the answers or the product and/or service offering, take the time to acknowledge every inquiry. These are 'warm' calls, people that want to talk to you - what could be easier? Even if you are not able to supply what they are looking for, take the time to ask a few questions about their business, you may identify new opportunities for your business.
Thoughtful Thursdays will be taking a break for the holidays, returning on Thursday January 8, 2009.
Until then, good selling, have a great holiday season and best wishes for 2009.
Richard
Frankly, I was not surprised to hear that sales continue to meet their objectives. In fact I expect they will weather the economic storm we are experiencing quite well. It is not because they have a unique recession proof product offering, rather it their approach to sales that is key - never leave any stone unturned.
Why is it that people do not return calls to potential customers? I experienced this phenomenon personally recently, heard of another instance from a client this week, and at lunch my friend related a similar story.
Today's thought is: Don't even think about not returning a potential customer's call. Return the call and do it the same day. In most cases you will be able to leave a voice mail if it is after business hours.
Even if you do not have the answers or the product and/or service offering, take the time to acknowledge every inquiry. These are 'warm' calls, people that want to talk to you - what could be easier? Even if you are not able to supply what they are looking for, take the time to ask a few questions about their business, you may identify new opportunities for your business.
Thoughtful Thursdays will be taking a break for the holidays, returning on Thursday January 8, 2009.
Until then, good selling, have a great holiday season and best wishes for 2009.
Richard
Wednesday, December 17, 2008
Wise Wednesdays - The Tortoise or the Hare?
You’re probably familiar with the tortoise and hare story. During a race the hare decides to go for a nap knowing he can easily outrun the tortoise. Upon awakening the hare realizes he has overslept and rushes off, but to no avail, the tortoise crosses the finish line first.
I began a career coaching and training business back in ’93 thinking like the hare – looking at quick ways to market my business. I could have saved myself a lot of money and grief had I thought more like the tortoise: Looking at the norm of how businesses in my industry market their services and then methodically using these same approaches to market my business.
Ironically, once I learned about proven marketing methods I got more business with less money. Instead of placing glitzy ads in magazines, I was busy networking and following up with contacts. Instead of doing public workshops, I tailored my workshops to the needs of the marketplace. Of course the time it took me was longer but the results sweeter and more satisfying.
From time to time, you hear how a particular business tried a zany marketing idea and succeeded. What you don’t hear is how many did the same and failed miserably. I am reminded by a saying by the Dalai Lama (by now you probably can see I’m a big fan of his), learn the rules so you know how to break them properly.
There are times when you need to seize opportunities when they present themselves. That usually happens because you’re prepared and the moment presents itself.
Now that I have a solid foundation I may decide to try a new marketing idea. I have successfully played the role of the tortoise and I can now try my luck being the hare. But one thing I can assure you is I won’t be taking a nap.
Wise Questions:What rules do you need to learn first?
How can you be more like the tortoise and less like the hare?
Cheers,
Dominik
I began a career coaching and training business back in ’93 thinking like the hare – looking at quick ways to market my business. I could have saved myself a lot of money and grief had I thought more like the tortoise: Looking at the norm of how businesses in my industry market their services and then methodically using these same approaches to market my business.
Ironically, once I learned about proven marketing methods I got more business with less money. Instead of placing glitzy ads in magazines, I was busy networking and following up with contacts. Instead of doing public workshops, I tailored my workshops to the needs of the marketplace. Of course the time it took me was longer but the results sweeter and more satisfying.
From time to time, you hear how a particular business tried a zany marketing idea and succeeded. What you don’t hear is how many did the same and failed miserably. I am reminded by a saying by the Dalai Lama (by now you probably can see I’m a big fan of his), learn the rules so you know how to break them properly.
There are times when you need to seize opportunities when they present themselves. That usually happens because you’re prepared and the moment presents itself.
Now that I have a solid foundation I may decide to try a new marketing idea. I have successfully played the role of the tortoise and I can now try my luck being the hare. But one thing I can assure you is I won’t be taking a nap.
Wise Questions:What rules do you need to learn first?
How can you be more like the tortoise and less like the hare?
Cheers,
Dominik
Saturday, December 13, 2008
The Business of Email
At a Meeting not long ago the subject of appropriate use of Business email was raised, roundly discussed and eventually hotly debated. The contention revolved around whether or not one can really express emotion through this medium.
One position was that, email is a wonderful communication tool that allows the sender to construct their thoughts, enabling an accurate expression of just how they are feeling about the subject at hand. The other position was there was no possibility of this actually happening, considering that relaying one's real feelings can only be done in person with a two way dialogue
You may hold to either of these two positions or like me fall somewhere in between, but the whole subject gave pause for thought. The thoughts took me directly to my inbox to review the different styles of my various senders and a few things jumped out.
1- The inbox is really full and although it appears that it has been read, most of it seems not very important. I would guess that about 10% gets a response from me.
2- The rest of it for the most part seems meaningless or I just don't understand what is being said. (In that case I do not respond; if its important the sender will call and then they can explain) . Some of it is very imformative, but not too much.
3- Sometimes people like trying to carry on a conversation through the email. That's when I pick up the phone. It takes a lot less time.
4- There is a lot of inter office email that could have been concluded in the same way as above, especially considering that more often than not the person is no less than 50 steps away.
5- Some people write too much and a lot of it is flowery gobbelty-gook. Its hard to get past the first sentence of this type of issue.
6 - Much as we all enjoy a good laugh, now a days too many people send jokes. There is so much of this, there just isn't time to read through them all. Chain email never go beyond my desk, no matter what the implications of non compliance may be.
An observation. Following the point of view expressed by my colleague who felt that there is no way you can communicate emotion through email, I find that there is a danger, that could end up with a embittered co-worker, an angry boss, a disgruntled employee or heaven forbid a lost customer. Without that real time dialogue, there is a lot of room for lack of clarity and misunderstanding. Bad feeling when the sender had no such intention. That's not good.
Ted Barton
Here's a couple of links on the subject. Most have you have probably visited similar sites like this one about email etiquette http://www.emailreplies.com/
and this one that is a recent interview with guy who invented email
http://itmanagement.earthweb.com/entdev/article.php/1408411
Lastly here's some stats:
E-mail in numbers
170 billion: Number of e-mails sent worldwide each day
2 million: Number of e-mails sent each second
49 minutes: Average time an office works spends each day managing e-mail
34: Percentage of internal company e-mails that office workers say are ‘unnecessary’
30-40: Number of times per hour workers check their e-mail
(Sources: Radicati Group, Gartner, Times Database)
One position was that, email is a wonderful communication tool that allows the sender to construct their thoughts, enabling an accurate expression of just how they are feeling about the subject at hand. The other position was there was no possibility of this actually happening, considering that relaying one's real feelings can only be done in person with a two way dialogue
You may hold to either of these two positions or like me fall somewhere in between, but the whole subject gave pause for thought. The thoughts took me directly to my inbox to review the different styles of my various senders and a few things jumped out.
1- The inbox is really full and although it appears that it has been read, most of it seems not very important. I would guess that about 10% gets a response from me.
2- The rest of it for the most part seems meaningless or I just don't understand what is being said. (In that case I do not respond; if its important the sender will call and then they can explain) . Some of it is very imformative, but not too much.
3- Sometimes people like trying to carry on a conversation through the email. That's when I pick up the phone. It takes a lot less time.
4- There is a lot of inter office email that could have been concluded in the same way as above, especially considering that more often than not the person is no less than 50 steps away.
5- Some people write too much and a lot of it is flowery gobbelty-gook. Its hard to get past the first sentence of this type of issue.
6 - Much as we all enjoy a good laugh, now a days too many people send jokes. There is so much of this, there just isn't time to read through them all. Chain email never go beyond my desk, no matter what the implications of non compliance may be.
An observation. Following the point of view expressed by my colleague who felt that there is no way you can communicate emotion through email, I find that there is a danger, that could end up with a embittered co-worker, an angry boss, a disgruntled employee or heaven forbid a lost customer. Without that real time dialogue, there is a lot of room for lack of clarity and misunderstanding. Bad feeling when the sender had no such intention. That's not good.
Ted Barton
Here's a couple of links on the subject. Most have you have probably visited similar sites like this one about email etiquette http://www.emailreplies.com/
and this one that is a recent interview with guy who invented email
http://itmanagement.earthweb.com/entdev/article.php/1408411
Lastly here's some stats:
E-mail in numbers
170 billion: Number of e-mails sent worldwide each day
2 million: Number of e-mails sent each second
49 minutes: Average time an office works spends each day managing e-mail
34: Percentage of internal company e-mails that office workers say are ‘unnecessary’
30-40: Number of times per hour workers check their e-mail
(Sources: Radicati Group, Gartner, Times Database)
Friday, December 12, 2008
Who's the Boss?
When critical decisions need to be made- are you ready to be the boss? Sometimes when big things are happening it can be easy to stick your head in the sand and just hope that the situation will evolve into what you want it to be without having to make a call one way or another. I have yet to talk to an entrepreneur who has found this strategy works, myself included.
It is important to plan ahead to avoid being put in these types of situations as much as possible. That being said- stuff happens, markets change, and therefore plans have to change to keep up.
When you need to make a tough call, I recommend looking at the following points:
1. What is the long-term vision you have for your business?
2. What are the implications for your cash flow? Do you have the necessary finances in place to take things to a satisfactory point or do you anticipate running out of money part way through?
3. How will this affect your relationships with your clients?
4. What are the factors that you can control?
5. What are the factors beyond your control? How could these impact your decision?
How do you make a difficult decision? Are there other points you would add to my list?
Forgetful Fridays Lesson #4- You are the boss, you and only you, have to make the tough decisions.
Jen
Getting into the Holiday Spirit
A lot of companies have put a hold on holiday parties due to the state of our economy. I think it's a shame not to have some fun and get to know each other better, and believe or not, a holiday gathering can lead to higher productivity. I went to our TBDC party yesterday and it was great.
Here are my tips
1) For company owners:
The holiday season is upon us and whether the past year was been good or bad for your organization the holidays are a key time to recognize and show appreciation for hard work well done. Your party or lunch does not heave to be an expensive event - it’s the thought that counts.
2) For employees:
Go to the party, you are never too old, too young or too cool to enjoy the holiday season. Have a good time and keep all your conversations positive. Things can get very serious these days so take the opportunity to have a fun and enjoy life!
Happy Holidays Everyone
:))
Barbora
Photo: Oldgit.files.wordpress.com
Thursday, December 11, 2008
Thoughtful Thursdays - When Do You Give Up On A Prospect?
I attended a networking event at Toronto Business Development Centre last night specifically to listen to guest speaker, Ben Barry. You may not have heard of Ben, but will likely be familiar with the Dove Campaign for Real Beauty. Ben was the drving force behind the creation of that successful campaign.
In the Q&A that followed his talk, Ben was asked how he was able to get to the key people of influence and decision makers, often top company executives.
In a word, persistence was the answer. Making as many calls as it takes to contact your prospect is how you eventually make contact, remain polite and keep your value proposition front and centre. This speaks to knowing not only your potential customer's needs but their customers needs as well.
A prospect is someone you have identified as a result of your market research that might want to do business with you.
Never give up on a prospect. Even if the the potential does not exist today, it may develop tomorrow.
I encourage you to learn more about Ben Barry and how he is changing the face of fashion at http://www.benbarry.com/.
Richard
In the Q&A that followed his talk, Ben was asked how he was able to get to the key people of influence and decision makers, often top company executives.
In a word, persistence was the answer. Making as many calls as it takes to contact your prospect is how you eventually make contact, remain polite and keep your value proposition front and centre. This speaks to knowing not only your potential customer's needs but their customers needs as well.
A prospect is someone you have identified as a result of your market research that might want to do business with you.
Never give up on a prospect. Even if the the potential does not exist today, it may develop tomorrow.
I encourage you to learn more about Ben Barry and how he is changing the face of fashion at http://www.benbarry.com/.
Richard
Wednesday, December 10, 2008
Wise Wednesdays - Dig Deep
Here is last week's Wise Trivia answer to the question, “What is the education level of people who start a business in Canada?”
According to a CIBC report done in 2004 (Start On Up: A New Look at Entrepreneurs in Canada) the education level of entrepreneurs is:
16% - not completed high school
26% - completed high school
36% - post secondary certificate/diploma (not including a university degree)
22% - university degree
According to Census Canada, 2006 report the education level of all Canadians (between 25-64 years of age) is:
15% - not completed high school
24% - completed high school
38% - post secondary certificate/diploma (not including a university degree)
23% - university degree
I noticed how almost identical these two sets of data are. Entrepreneurs reflect the population at large.
One of the things the stats don’t show is how business savvy someone is. An entrepreneur’s true test in education goes beyond textbooks and training.
I had a client who opened an immigration consulting business one month before September 2001. After 911 the immigration and refugee laws in Canada were re-vamped and would not come into effect for another six months. The business owner was at a loss. What could he do besides throw in the towel?
He decided to ‘dig deeper’ and get busy connecting with people and sending out updates on the proposed changes to Canadian immigration law (even though he knew he would not get any business for at least six months). These updates kept potential prospects interested as they wanted to know what the implications meant for them. Once the laws came into effect my client had a solid base of potential prospects who were ready to use his services.
Wise Question: When have you “dug deep” when things got tough? What areas can you now ‘dig deeper’? These situations can help you from being educated to being business savvy -- an experience worth it’s weight in gold.
Cheers,
Dominik
According to a CIBC report done in 2004 (Start On Up: A New Look at Entrepreneurs in Canada) the education level of entrepreneurs is:
16% - not completed high school
26% - completed high school
36% - post secondary certificate/diploma (not including a university degree)
22% - university degree
According to Census Canada, 2006 report the education level of all Canadians (between 25-64 years of age) is:
15% - not completed high school
24% - completed high school
38% - post secondary certificate/diploma (not including a university degree)
23% - university degree
I noticed how almost identical these two sets of data are. Entrepreneurs reflect the population at large.
One of the things the stats don’t show is how business savvy someone is. An entrepreneur’s true test in education goes beyond textbooks and training.
I had a client who opened an immigration consulting business one month before September 2001. After 911 the immigration and refugee laws in Canada were re-vamped and would not come into effect for another six months. The business owner was at a loss. What could he do besides throw in the towel?
He decided to ‘dig deeper’ and get busy connecting with people and sending out updates on the proposed changes to Canadian immigration law (even though he knew he would not get any business for at least six months). These updates kept potential prospects interested as they wanted to know what the implications meant for them. Once the laws came into effect my client had a solid base of potential prospects who were ready to use his services.
Wise Question: When have you “dug deep” when things got tough? What areas can you now ‘dig deeper’? These situations can help you from being educated to being business savvy -- an experience worth it’s weight in gold.
Cheers,
Dominik
Thursday, December 4, 2008
Thoughtful Thursdays - The Final Speech...
... not mine, but a thoughtful speech I came across while researching one of my favourite subjects - sales.
Richard
Richard
Wednesday, December 3, 2008
Wise Wednesdays - Step-by-Step to Success
Here is an example of a conversation I regularly get:
Client: I want to start a business. I know you have to register to start a business?
Me: In the province of Ontario you don’t have to register a business to start a business if you use your own personal name.
Client: But I have a great business name. I want to protect it so I want to register my business name as a sole proprietor.
Me: That doesn’t protect you. An incorporated company has precedent over a sole proprietorship.
Client: Then I guess I’ll incorporate.
Me: That will cost you ($350 - $1,000)and you will have more paperwork to do.
Client: I hear if I patent or trademark my name I will be protected fully?
Me: That will take at least a year, a lot more money, paperwork and time.
Client: Isn’t this important to do?
Me: How much business have you done?
Cleint: Very little.
Me: May I suggest that you have other bigger concerns to think about.
The reason I bring this up is that too many people worry about things like branding, getting the right name, getting that website up when there are far more important things to do in getting your business up an running.
More important concerns include test marketing your product or service; doing an extensive survey with potential buyers (family members a few friends don’t count); gaining experience in the field; knowing who the key players are in the field and how they market; making sure your finances are in order.
Getting the right name and branding are steps that companies usually GROW into. The media has led us to believe that success is at hand instantaneously with a great idea. The businesses that I’ve seen succeed do so one day at a time. Step-by-step.
Last week’s Wise Trivia question: Where do most business start-ups get their financing from?
1st From their own savings
2nd Family and Friends
3rd Their bank
4th place Other lending institutions
80th place Government grants (rare)
100th place Angel investors (very rare)
Anyone who is lending you money will ask what you have financially invested in the business? If the answer is nothing or very little why should they?
Next week’s Wise Trivia: What is the education level of people who start a business in Canada? (Find out next week).
Cheers,
Dominik
Client: I want to start a business. I know you have to register to start a business?
Me: In the province of Ontario you don’t have to register a business to start a business if you use your own personal name.
Client: But I have a great business name. I want to protect it so I want to register my business name as a sole proprietor.
Me: That doesn’t protect you. An incorporated company has precedent over a sole proprietorship.
Client: Then I guess I’ll incorporate.
Me: That will cost you ($350 - $1,000)and you will have more paperwork to do.
Client: I hear if I patent or trademark my name I will be protected fully?
Me: That will take at least a year, a lot more money, paperwork and time.
Client: Isn’t this important to do?
Me: How much business have you done?
Cleint: Very little.
Me: May I suggest that you have other bigger concerns to think about.
The reason I bring this up is that too many people worry about things like branding, getting the right name, getting that website up when there are far more important things to do in getting your business up an running.
More important concerns include test marketing your product or service; doing an extensive survey with potential buyers (family members a few friends don’t count); gaining experience in the field; knowing who the key players are in the field and how they market; making sure your finances are in order.
Getting the right name and branding are steps that companies usually GROW into. The media has led us to believe that success is at hand instantaneously with a great idea. The businesses that I’ve seen succeed do so one day at a time. Step-by-step.
Last week’s Wise Trivia question: Where do most business start-ups get their financing from?
1st From their own savings
2nd Family and Friends
3rd Their bank
4th place Other lending institutions
80th place Government grants (rare)
100th place Angel investors (very rare)
Anyone who is lending you money will ask what you have financially invested in the business? If the answer is nothing or very little why should they?
Next week’s Wise Trivia: What is the education level of people who start a business in Canada? (Find out next week).
Cheers,
Dominik
Monday, December 1, 2008
Recession??
Last week I joined a group of 20 TBDC entrepreneurs with disabilities. The topic was the “R” word. Recession.
A funny thing happened -- there was no gnashing of teeth or pulling of hair. In fact, the discussion was very calm. I left with my faith in small business recharged and I understand better why small businesses are considered the “engine” of the economy.
- No one in the room was shutting down their business
- All business solutions discussed revolved around helping customers
- The power words used in the room were “flexibility” and “adaptability.” “Perseverance,” “persistence” and “tenacious” came up as well.
- Lots of recession-proof businesses were identified
- The best strategies discussed were low or no cost
o Networking
o Forming alliances
o Online marketing
o Focusing on past customers
o Managing cash
The best comment of the afternoon -- “If you started your business with no money then what’s new?” said Ashley Proctor, owner of Creative Blueprint. “You just continue as you always do, making the best business decisions every day with what you have.”
After that bit of wisdom, there were a few sniggers about the banks and automotive giants. The business owners in that room certainly weren’t looking for bailouts!
In my opinion, small business owners are better prepared than anyone to weather this recession. Bring it on.
Friday, November 28, 2008
Forgetful Fridays- Savour Success
As my fellow bloggers have mentioned, being your own boss challenges you to overcome fears, tackle obstacles, and sacrifice. With all of that on your plate, it can feel like very thankless work. If you were an employee of your company, rather than the owner, would you continue to want to work there? Or would you be polishing up that resume?
Many entrepreneurs start their businesses with flexible hours and independence being their motivators, only to find that they are working more hours than ever and that independence comes with its own set of stresses that can keep you up at night.
You are your star employee, but you are also the boss and therefore the only one who can recognize and reward your achievements. You may not be able to pay yourself more, indulge in retail therapy, or take that week away in Waikiki- but there are things that you can do to recognize your achievements. I suggest taking a bit of time every week to reflect on what you have accomplished. Look at where you were a week, month, or year before and be satisfied with all of the gains that you have made. Sure, you can always do better and there will always be more work to do, but it is important to savour those moments of success that are so sweet.
Forgetful Fridays Lesson #3- Celebrate Your Achievements!
Jen
Thursday, November 27, 2008
Thoughtful Thursdays - Why Do Your Customers Buy From You?
Over the years I have been fortunate to have enjoyed reasonable success achieving sales expectations. I thought it was a matter of just doing my job.
At an industry gathering one of our competitors was overheard wondering aloud how in the world we were able to secure the majority share of a significant piece of business we had never enjoyed before. It was this comment that encouraged me to find out why our customers in fact were our customers.
Our business was number 2 or 3 in the market. We were not the lowest cost producer and therefore not in a position to be the lowest priced supplier. We were competitive with a product as good any out there, so why did our customers buy from us?
It seems such a simple thing to find out, but if you are at all like the majority, when things are going well, we do not always take the time to ask the simple questions. I took the question to our customers.
Was it our service, delivery times, price, product quality? Not surprisingly what I found out was that these criteria were given. You would not be in the game if not competitive in these areas. So what was the reason?
To paraphrase, it was because when they called us, they knew that they would get a response from the same day. It never occurred to me that a customer call would not be returned same day - would it to you?
Now that is something to think about.
Richard
At an industry gathering one of our competitors was overheard wondering aloud how in the world we were able to secure the majority share of a significant piece of business we had never enjoyed before. It was this comment that encouraged me to find out why our customers in fact were our customers.
Our business was number 2 or 3 in the market. We were not the lowest cost producer and therefore not in a position to be the lowest priced supplier. We were competitive with a product as good any out there, so why did our customers buy from us?
It seems such a simple thing to find out, but if you are at all like the majority, when things are going well, we do not always take the time to ask the simple questions. I took the question to our customers.
Was it our service, delivery times, price, product quality? Not surprisingly what I found out was that these criteria were given. You would not be in the game if not competitive in these areas. So what was the reason?
To paraphrase, it was because when they called us, they knew that they would get a response from the same day. It never occurred to me that a customer call would not be returned same day - would it to you?
Now that is something to think about.
Richard
Wednesday, November 26, 2008
Wise Wednesdays
People who say it can’t be done are usually interrupted by someone doing it.
Be careful about gross generalizations that don’t serve you. I hear this often: “The economy is getting tougher and people won’t spend. It’s not a good time to start a business.” My response is, “you get up in the morning, get dressed, make your coffee and go to work. You still buy.” In fact, many entrepreneurs may fare well in a downturn as established firms cut back on expansion -- a great opportunity to find a niche and fill it. People who say it can’t be done are usually interrupted by someone doing it.
What is important is the ability to learn about the market you want to sell to. It’s about the specifics. Making assumptions, without testing them, can be the costliest mistake you can make.
Ask yourself: How well do you know the market you want to sell to? Who are you selling to? What are they buying? Why are they buying? When do they buy? Where do they go to buy?
Last week’s Wise Trivia question: Generally, how long does it take before your business is a success?
Answer: Generally it will take you three times as long to get your business off the ground, then you had planned it would. So that date you had planned to be running your business fulltime in May probably won’t happen until the following year. Managing expectations is a tricky thing, especially in business. We fool ourselves into thinking we can achieve results quickly.
Do yourself a favour if you want to start a business then set timelines: When you’ll take that business seminar, finish that business plan, talk to people in the industry etc. Stick to it. Re-set your goals. Have a sense of urgency but be committed to doing it over a longer period of time.
You noticed I made an assumption. Except that this assumption has been tested by me and many other entrepreneurs time-and-time again.
This week’s Wise Trivia question: Where do most business start-ups get their financing from? (Find out next week).
Be careful about gross generalizations that don’t serve you. I hear this often: “The economy is getting tougher and people won’t spend. It’s not a good time to start a business.” My response is, “you get up in the morning, get dressed, make your coffee and go to work. You still buy.” In fact, many entrepreneurs may fare well in a downturn as established firms cut back on expansion -- a great opportunity to find a niche and fill it. People who say it can’t be done are usually interrupted by someone doing it.
What is important is the ability to learn about the market you want to sell to. It’s about the specifics. Making assumptions, without testing them, can be the costliest mistake you can make.
Ask yourself: How well do you know the market you want to sell to? Who are you selling to? What are they buying? Why are they buying? When do they buy? Where do they go to buy?
Last week’s Wise Trivia question: Generally, how long does it take before your business is a success?
Answer: Generally it will take you three times as long to get your business off the ground, then you had planned it would. So that date you had planned to be running your business fulltime in May probably won’t happen until the following year. Managing expectations is a tricky thing, especially in business. We fool ourselves into thinking we can achieve results quickly.
Do yourself a favour if you want to start a business then set timelines: When you’ll take that business seminar, finish that business plan, talk to people in the industry etc. Stick to it. Re-set your goals. Have a sense of urgency but be committed to doing it over a longer period of time.
You noticed I made an assumption. Except that this assumption has been tested by me and many other entrepreneurs time-and-time again.
This week’s Wise Trivia question: Where do most business start-ups get their financing from? (Find out next week).
Friday, November 21, 2008
Forgetful Fridays- You Gotta Have Heart
How are you going to thank your customers this holiday season? For many- this is a busy time of year and it can be hard to find the time to give back. But where would we be without our customers?
Whether it is a simple card, a gift certificate, or a present of some kind it is important to let your clients know how much you value them. This is not just good business practice, it helps strengthen the relationships that you have with your customers. Think of how you feel when one of your suppliers goes out of their way to say "thanks" for your patronage- it makes you feel appreciated and creates a natural response that makes you want to continue to do business with that supplier.
It can be beneficial to create a "thank you" program as part of any marketing strategy and the holiday season is a great time to start it.
Forgetful Fridays Lesson #2- Remember to Say Thanks
Jen
Thursday, November 20, 2008
Thoughtful Thursdays - Getting Out of The Gate
Last Thursday I indicated there are always obstacles to achieving sales. "For some it begins with just getting out of the gate and making the calls to prospective customers."
If you can identify with this, then there is a likelihood that you are the obstacle. Most agree that sooner or later you will have to talk to someone in order to sell your product or service. When you are not getting out there what expectations can you seriously have for making sales? No prospects = no sales.
What is keeping you from making those calls?
One solution to this common issue begins with asking yourself what are the worst things a potential customer could say to you, and writing them down.
Next, take each one and determine if your anticipated fears are valid. Why are you fearful of that particular response? There shouldn't be any questions about the product(s) or service(s) you are offering you can not anwer, it is your business after all.
What I am encouraging is pre-call preparation to help mitigate the fears you may have. Anticipating objections and having the answers ready can be a real confidence builder. There is really little to fear. You already know that not everyone will be your customer, and you will get objections, that's life. It's how you address those objections that makes the difference between walking away and making the sale.
The next time you catch yourself talking yourself out of making a call, think about what your fears are and address them. If your competitor is getting out of the gate faster, you might risk loosing the sale, and that is not good.
Richard
If you can identify with this, then there is a likelihood that you are the obstacle. Most agree that sooner or later you will have to talk to someone in order to sell your product or service. When you are not getting out there what expectations can you seriously have for making sales? No prospects = no sales.
What is keeping you from making those calls?
- You have to work on your brochure
- The print shop is holding you up
- You have to work on your website
- Your computer crashed
- You need to do more research
- It was raining
One solution to this common issue begins with asking yourself what are the worst things a potential customer could say to you, and writing them down.
Next, take each one and determine if your anticipated fears are valid. Why are you fearful of that particular response? There shouldn't be any questions about the product(s) or service(s) you are offering you can not anwer, it is your business after all.
What I am encouraging is pre-call preparation to help mitigate the fears you may have. Anticipating objections and having the answers ready can be a real confidence builder. There is really little to fear. You already know that not everyone will be your customer, and you will get objections, that's life. It's how you address those objections that makes the difference between walking away and making the sale.
The next time you catch yourself talking yourself out of making a call, think about what your fears are and address them. If your competitor is getting out of the gate faster, you might risk loosing the sale, and that is not good.
Richard
Wednesday, November 19, 2008
Wise Wednesdays
What is the Purpose of a Business?
Whenever I start a workshop I ask the group this question: What is the purpose of a business?
Most people reply, “to be your own boss … for creative self-expression … to create fulfilling work.” All are incorrect. These may be your motives however the purpose of a business is to find and keep customers at a profit. Period.
I had two graphic designers as clients. Both had similar skills and decent portfolios. George (not his real name) focused on doing creative fulfilling work. He failed. Jonathan (not his real name) focused on activities that helped him get clients: Selling and networking. He dreaded doing these activities. Eventually he got better at it. Jonathan ended up hiring people and his business is thriving today.
Let’s be perfectly clear: Doing creative fulfilling work is important. However, not all your needs can be met at work. Most entrepreneurs realize early on if they are to be successful they will have to do things they don’t like to do. Selling. Networking. Watching their dollars. Be prepared to give something up. The Dalai Lama has a great saying, “judge your success by what you had to give up to achieve it” (and you better be prepared to give up more than just that Mocha Latte you have in the mornings!)
What are you willing to give up to be a successful entrepreneur?
Last week’s Wise Trivia: What type of businesses are successful 90% of the time? Franchises – 80 to 90% of franchises that start are still in business 5 years down the road.
You may say that franchises are really not run by entrepreneurs (because they are given a turnkey operation). However, franchises offer a valuable lesson. Franchises have a process they follow on meeting customer expectations. Each customer has a consistent experience. You walk into a Second Cup and you know you can find that Mocha Latte you so relish.
As an entrepreneur, you are creating a system, a process that the customer experiences. Can you describe the process, in detail, from the time a potential client comes in contact with you to the time they have bought your goods or services?
This week’s Wise Trivia: Generally, how long does it take before your business is a success and how much resources will you need? (Find out next week).
Cheers,
Dominik
Whenever I start a workshop I ask the group this question: What is the purpose of a business?
Most people reply, “to be your own boss … for creative self-expression … to create fulfilling work.” All are incorrect. These may be your motives however the purpose of a business is to find and keep customers at a profit. Period.
I had two graphic designers as clients. Both had similar skills and decent portfolios. George (not his real name) focused on doing creative fulfilling work. He failed. Jonathan (not his real name) focused on activities that helped him get clients: Selling and networking. He dreaded doing these activities. Eventually he got better at it. Jonathan ended up hiring people and his business is thriving today.
Let’s be perfectly clear: Doing creative fulfilling work is important. However, not all your needs can be met at work. Most entrepreneurs realize early on if they are to be successful they will have to do things they don’t like to do. Selling. Networking. Watching their dollars. Be prepared to give something up. The Dalai Lama has a great saying, “judge your success by what you had to give up to achieve it” (and you better be prepared to give up more than just that Mocha Latte you have in the mornings!)
What are you willing to give up to be a successful entrepreneur?
Last week’s Wise Trivia: What type of businesses are successful 90% of the time? Franchises – 80 to 90% of franchises that start are still in business 5 years down the road.
You may say that franchises are really not run by entrepreneurs (because they are given a turnkey operation). However, franchises offer a valuable lesson. Franchises have a process they follow on meeting customer expectations. Each customer has a consistent experience. You walk into a Second Cup and you know you can find that Mocha Latte you so relish.
As an entrepreneur, you are creating a system, a process that the customer experiences. Can you describe the process, in detail, from the time a potential client comes in contact with you to the time they have bought your goods or services?
This week’s Wise Trivia: Generally, how long does it take before your business is a success and how much resources will you need? (Find out next week).
Cheers,
Dominik
Friday, November 14, 2008
Forgetful Fridays
I can't promise to be as dependable as Dominik and Richard- writers of Wise Wednesdays and Thoughtful Thursdays respectively- so I have taken up writing Forgetful Fridays.
Juggling the demands of my business with those of being a business advisor and trying to have a life, can leave it hard to find time to get everything done. That's a pretty common struggle for entrepreneurs and one of the best ways to manage all that you have to do is to manage expectations. It is important to be honest with yourself and with those that you do business with about what you can do and what you can't. The temptation can be to say yes to everything that comes your way, but if you can't come through when you promised you would, it does more damage to your reputation than saying no in the first place.
So in that spirit- I can't promise that I will be able to write something every week, but I hope that the title I have chosen has set the correct expectations.
Forgetful Fridays Lesson #1- Don't Over Promise and Under Deliver
Jenifer Forrest
Thursday, November 13, 2008
Thoughtful Thursdays - What Are Your Sales Challenges?
I have worked with many business owners as they launched their ventures. One of the most common barriers to success they experience is the challenge of achieving forecasted sales revenues.
For some it begins with just getting out of the gate and making the calls to prospective customers. For others it is much further along in the sales cycle when it comes time to closing the deal.
No matter where you are in the sales process there are obstacles to overcome. Knowing how to address these challenges is the key to success.
I recently met with a client who is having difficulty closing a sale. When asked what they thought the issue might be the response was: “I think they (the prospect) are hesitating to purchase because …” Stop the presses! Stop thinking for the customer and find out for sure. Ultimately the deal may never close but it is up to you to find out why it went off the rails. The answer I was looking for would begin: “They (the prospect) told me the reason for the delay was…” It is tough to help when the issue is not positively identified.
Selling is very near and dear to my heart. Admittedly biased, I believe the sales function is the most important component in any business. This is where the rubber hits the road as they say.
Every Thursday I will be sharing thoughts and experiences on the subject of sales and welcome your comments and feedback.
Richard
For some it begins with just getting out of the gate and making the calls to prospective customers. For others it is much further along in the sales cycle when it comes time to closing the deal.
No matter where you are in the sales process there are obstacles to overcome. Knowing how to address these challenges is the key to success.
I recently met with a client who is having difficulty closing a sale. When asked what they thought the issue might be the response was: “I think they (the prospect) are hesitating to purchase because …” Stop the presses! Stop thinking for the customer and find out for sure. Ultimately the deal may never close but it is up to you to find out why it went off the rails. The answer I was looking for would begin: “They (the prospect) told me the reason for the delay was…” It is tough to help when the issue is not positively identified.
Selling is very near and dear to my heart. Admittedly biased, I believe the sales function is the most important component in any business. This is where the rubber hits the road as they say.
Every Thursday I will be sharing thoughts and experiences on the subject of sales and welcome your comments and feedback.
Richard
Wednesday, November 12, 2008
Wise Wednesdays
Building a Foundation for Your Business
My ten years experience in helping entrepreneurs succeed has taught me that many people still have misconceptions on what it means to start their own business. Beginning today and every Wednesday hereafter, I will be discussing a topic of interest to budding entrepreneurs. The advice on this blog will not be found in text books. Nor will you hear about the latest and greatest business idea. Instead I want to share my experience with those who have a business idea or who have just started their company and want street-smart advice. Think of Wise Wednesdays as stepping stones in moving you closer to a thriving business.
Where Are You Now?
Common questions I get from budding entrepreneurs are, “Should I register my business?”, “Should I have a website?” or “Where can I get a loan/grant?” My response is, “Where are you now?” They look at me puzzled as if I am talking in Sanskrit. “Where are you now?” is one of the most fundamental questions any entrepreneur can ask themselves in determining what they need to do next.
Someone who wants to start a restaurant business, for example, but has limited restaurant experience, I would recommend to get more experience in the field (and some money in their bank account) first. For someone who is struggling financially, and has a large debt, I would recommend they have a plan to work that out, first. For someone who has a lot of experience in the business they want to pursue but very limited sales experience I would recommend they practice their sales/networking skills, first. In each of these cases the recommendations are tailored to the where the individual is now and the essential gap they need to fill before moving on.
The truth is that pursuing a business, and most successful businesses will have some sort of vision/mission, is unsustainable without some kind of foundation. You wouldn’t place a roof on a house with a weak frame. You would be surprised how many entrepreneurs do. Although some would-be entrepreneurs find it frustrating when I ask them tough questions I am weary of giving formula type answers to new entrepreneurs: This can lead them to believe that there is magic pill that will solve all their business problems. In fact a bitter pill, sometimes, is the best answer.
What bitter pills have you had to take as an entrepreneur? Let me know.
Cheers,
Dominik
Wise Trivia: What type of businesses are successful 90% of the time? (Find out next week).
My ten years experience in helping entrepreneurs succeed has taught me that many people still have misconceptions on what it means to start their own business. Beginning today and every Wednesday hereafter, I will be discussing a topic of interest to budding entrepreneurs. The advice on this blog will not be found in text books. Nor will you hear about the latest and greatest business idea. Instead I want to share my experience with those who have a business idea or who have just started their company and want street-smart advice. Think of Wise Wednesdays as stepping stones in moving you closer to a thriving business.
Where Are You Now?
Common questions I get from budding entrepreneurs are, “Should I register my business?”, “Should I have a website?” or “Where can I get a loan/grant?” My response is, “Where are you now?” They look at me puzzled as if I am talking in Sanskrit. “Where are you now?” is one of the most fundamental questions any entrepreneur can ask themselves in determining what they need to do next.
Someone who wants to start a restaurant business, for example, but has limited restaurant experience, I would recommend to get more experience in the field (and some money in their bank account) first. For someone who is struggling financially, and has a large debt, I would recommend they have a plan to work that out, first. For someone who has a lot of experience in the business they want to pursue but very limited sales experience I would recommend they practice their sales/networking skills, first. In each of these cases the recommendations are tailored to the where the individual is now and the essential gap they need to fill before moving on.
The truth is that pursuing a business, and most successful businesses will have some sort of vision/mission, is unsustainable without some kind of foundation. You wouldn’t place a roof on a house with a weak frame. You would be surprised how many entrepreneurs do. Although some would-be entrepreneurs find it frustrating when I ask them tough questions I am weary of giving formula type answers to new entrepreneurs: This can lead them to believe that there is magic pill that will solve all their business problems. In fact a bitter pill, sometimes, is the best answer.
What bitter pills have you had to take as an entrepreneur? Let me know.
Cheers,
Dominik
Wise Trivia: What type of businesses are successful 90% of the time? (Find out next week).
Wednesday, October 29, 2008
Leveraging Government Programs
In his message to entrepreneurs gathered at TBDC recently, the Honourable Harinder Takhar, Minister of Small Business and Consumer Services, encouraged business owners to leverage the support of government sponsored programs and resources. He specifically referred to the Export Market Access Program which is a 50/50 cost-sharing grant to help eligible Ontario SMEs cover costs incurred to develop export sales in foreign markets predominately outside the US. This is just one of several programs from municipal, provincial and federal governments helping entrepreneurs to start businesses, develop new technologies and achieve export sales.
Before someone can benefit from these offerings, they need to know about them. So if you know of a program, a resource or a tax-incentive that you have found helpful or you think could help another entrepreneur, please share it with us.
Before someone can benefit from these offerings, they need to know about them. So if you know of a program, a resource or a tax-incentive that you have found helpful or you think could help another entrepreneur, please share it with us.
Horizontal Positioning
Small business owners are constantly asking how to compete with larger, more established businesses. I hear phrases like: "They're the 'Market Leader'" or "Everyone knows that they offer the 'best' product of that sort"...
Positioning in the modern marketplace is not 'vertical'; or arranged from best through 'mid-level' to worst. Rather, positioning is 'horizontal'; arranged on a level plane according to how well they meet the particular needs and characteristics of a particular market at a particular time.
For instance, a Royal Gala apple is not intrinsically 'better' than a Mackintosh or worse than a Granny Smith. Each apple has particular qualities and some will prefer one or the other for a given application: eating, making cider, baking pies...
The point being that for one target market, for that particular set of needs and characteristics, your offering is EXACTLY the solution they are looking for.
Larger companies have woken to this reality and have responded by making far more varied and/or customizable product lines aimed at increasing market share in more and more identified market segments.
In contrast, small businesses are generally best served by identifying and marketing to that one (or very few) relatively small and incredibly well-defined and understood market segment(s) whose needs and characteristics they match better than ANY competitor.
Positioning in the modern marketplace is not 'vertical'; or arranged from best through 'mid-level' to worst. Rather, positioning is 'horizontal'; arranged on a level plane according to how well they meet the particular needs and characteristics of a particular market at a particular time.
For instance, a Royal Gala apple is not intrinsically 'better' than a Mackintosh or worse than a Granny Smith. Each apple has particular qualities and some will prefer one or the other for a given application: eating, making cider, baking pies...
The point being that for one target market, for that particular set of needs and characteristics, your offering is EXACTLY the solution they are looking for.
Note: This is why professional marketers tend to respond so negatively to the suggestion that a product or service's target market is 'everybody'... Such a claim demonstrates a failure to
understand that incredibly vital relationship between a target Market's needs and the particular qualities of a product or service.
Larger companies have woken to this reality and have responded by making far more varied and/or customizable product lines aimed at increasing market share in more and more identified market segments.
For an excellent illustration of this, check out Malcolm Gladwell's talk at TED in 2004:
http://www.ted.org/index.php/talks/malcolm_gladwell_on_spaghetti_sauce.html
In contrast, small businesses are generally best served by identifying and marketing to that one (or very few) relatively small and incredibly well-defined and understood market segment(s) whose needs and characteristics they match better than ANY competitor.
Friday, October 24, 2008
Doom and Gloom Explained
Wondering what to make of all the reports on the news about the financial crisis? This podcast helped me get a better understanding of what has happened-
It doesn't claim to have any concrete solutions (and I would be very wary of anyone who does), but I found it helpful nonetheless. It is an American program, but considering that the US is where this all started, I feel it is appropriate.
Social Networking - Is It A Good Business Strategy?
MySpace, Facebook, LinkedIn, Second Life, GigPark, craigslist, Flickr, Meetup, Friendster, Twitter, YouTube, blogging...
You can certainly make an unlimited number of contacts, but is the time and effort required to make it happen justified by a corresponding increase in sales?
How many places do you need to be and how often? Word on the street tells me that unless you are blogging at least 3 times a week or more, people will begin to loose interest. Do you have the resources to sustain the level of communication needed to maintain and grow your audience.
I would really like to hear from business owners who have stepped into the social networking arena to relate their experiences, both positive and negative. We have all heard of the wild success of a few businesses, but overall is it a good strategy or is it industry or business specific?
I am not sure so I pose the question.
Richard
You can certainly make an unlimited number of contacts, but is the time and effort required to make it happen justified by a corresponding increase in sales?
How many places do you need to be and how often? Word on the street tells me that unless you are blogging at least 3 times a week or more, people will begin to loose interest. Do you have the resources to sustain the level of communication needed to maintain and grow your audience.
I would really like to hear from business owners who have stepped into the social networking arena to relate their experiences, both positive and negative. We have all heard of the wild success of a few businesses, but overall is it a good strategy or is it industry or business specific?
I am not sure so I pose the question.
Richard
Thursday, October 23, 2008
Look at Abilities!
I had the opportunity of attending a conference last week and came away amazed by what people are able to accomplish in their lives. The Conference was titled The Value of Accessibility: the Bottom Line and was put on by Job Opportunity Information Network (JOIN) - a network of 24 agencies assisting people with disabilities in securing employment or building their own businesses.
The part that hit home was listening to the keynote speeches given by Terry Evanshen and Alvin Law. Both of these individuals live each day with challenges due to them being persons with disabilities. Terry Evanshen almost died in a car crash and he sustained major memory loss – no recollection of being a start in the CFL. Alvin Law was born without arms. But their inspiring messages got through to me. One should always look at the ability in a person, what can be accomplished, and stay clear of the thoughts concerning what can’t be done.
The reason I’m writing these words is to impress on you the reader that self-employment can be a great option to look at no matter the circumstance one is in. Maybe a friend, a neighbour, or a colleague of yours should look at self-employment and build upon what they have. If we only look at what can be achieved, we would all amaze ourselves.
The part that hit home was listening to the keynote speeches given by Terry Evanshen and Alvin Law. Both of these individuals live each day with challenges due to them being persons with disabilities. Terry Evanshen almost died in a car crash and he sustained major memory loss – no recollection of being a start in the CFL. Alvin Law was born without arms. But their inspiring messages got through to me. One should always look at the ability in a person, what can be accomplished, and stay clear of the thoughts concerning what can’t be done.
The reason I’m writing these words is to impress on you the reader that self-employment can be a great option to look at no matter the circumstance one is in. Maybe a friend, a neighbour, or a colleague of yours should look at self-employment and build upon what they have. If we only look at what can be achieved, we would all amaze ourselves.
Wednesday, October 22, 2008
Congratulations Katya
I was sitting drinking my morning coffee and watching the news on Global yesterday when I recognized a familiar face on the screen. Katya of Desperately Different, was being interviewed and models wearing several of her creations were featured. Later in the day I picked up a local design directory on Queen Street. As I flipped throught the pages, I saw an article and photos on Katya and her company. Great publicity. Congratulations Katya!
Sally
Sally
Saturday, October 18, 2008
Saturday Morning Success Stories
After a full work week, if you are anything like me you are looking forward to a day or two of domestic bliss, a couple of relaxing moments or just a total veg fest. It usually starts with a brush up on current events via the voluminous weekend paper.
So just when you think you have found this wonderful state of flux, a double dose of success kicks you back to reality.
The Living section of the Saturday Star this week features a TBDC Hall of Fame superstar and a major contender for this year's Rookie of the Year.
Our wonderful graduate Basia Polowska, is featured in the front page article on " Made in Canada" with an example of her Accessory Line (check out the $455.00 cuff band..ouch) and just as the great feelings of pride and accomplishment start to flood....there is HOIBO , our Sarra Tang with an sample of her hand made bags!!!
So the wheel turns....Basia a graduate, Sarra a new recruit..both representative of hard working visionaries making it happen along with a little TBDC TLC.
Ted Barton
BTW - a little froth on that cappa......Katya..our "Desperately Different" Shining Star is featuring her Fall line at the new Studio Runway @ Nathan Phillips Square this Monday Oct 21st and @ the Drake @ the 10pm after party......check out the pic here. It's all part of L'Oreal Fashion Week and Katya is a big part of the Event. Watch for her on Billboards all around town!! Big Thanks go out to Carol V.W. and Jen F. for their continued support.
Friday, October 10, 2008
Scheduling
As an entrepreneur scheduling is one of the most important factors for success. I am frequently asked how I manage to get everything done and still have a social life.
Whether you use a paper day planner or a computerized calendar, like iCal, I recommend colour coding your events. Try using blue for all business related activities, green for all personal events, red for accounts payable, and orange for accounts receivable- all on the same calendar. This helps you track your cash flow and work on your work-life balance at a glance.
Of course- it only works if you use it consistently, but it can help you get more out of each and every day.
Jen
Monday, September 22, 2008
Blog, Fog and Dogs
It's great that this forum for sharing ideas, successes and everyday perpective is available for all those who want to encourage business growth in the City of Toronto. For me it will provide an opportunity to clear away the haze of blogging and provide a new conduit to express opinions, that heretofore have only been listened to by these two fellows.
Ted Barton
Thursday, September 18, 2008
Newspapers Provide Leads
As an entrepreneur make a point of reading the newspaper daily. It doesn’t have to be read cover to cover but skimming the headlines is a must especially for prospecting opportunities. In a recent Financial Post story the writer mentioned the name of a business owner who I happened to contact and mentioned I had read the article in the paper. This turned a cold call into a warm call and the person was very receptive.
Lynn Tremblay
Lynn Tremblay
Excellence in Achievement
I have been immersed in the TBDC Awards – The Essence of Entrepreneurship, for the last few months. At this time, the finalists have been chosen and the judges are preparing to interview candidates and make their final selection. At the same time, the rest of the world has been focused on excellence in sports – the 2008 Olympics.
As always, the similarities between sports and business are evident. Natural ability combined with technology, technique and coaching is producing superior performances in all events. Michael Phelps, the US swimmer is the dominant force in the pool. He was one of the first to wear the Speedo Fastskin LZR racing suit, his unique physical characteristics have allowed him to develop great technique and he has received outstanding coaching along the way. But above all, he is one of the hardest working swimmers in the competition.
The finalists for the TBDC Awards of Excellence are all reaching for the finish line. They too have had the benefit of “coaching” through incubation or training to help them develop the “techniques” or business skills they require to achieve success. They can also access the latest technologies to propel their business forward but in the end, they are alone leading their company and it will be their hard work and dedication that will lead them to the podium.
Sally Wilkie
As always, the similarities between sports and business are evident. Natural ability combined with technology, technique and coaching is producing superior performances in all events. Michael Phelps, the US swimmer is the dominant force in the pool. He was one of the first to wear the Speedo Fastskin LZR racing suit, his unique physical characteristics have allowed him to develop great technique and he has received outstanding coaching along the way. But above all, he is one of the hardest working swimmers in the competition.
The finalists for the TBDC Awards of Excellence are all reaching for the finish line. They too have had the benefit of “coaching” through incubation or training to help them develop the “techniques” or business skills they require to achieve success. They can also access the latest technologies to propel their business forward but in the end, they are alone leading their company and it will be their hard work and dedication that will lead them to the podium.
Sally Wilkie
Remember to Proofread
We remind our clients continually at the TBDC to proofread all marketing materials before getting them printed- for obvious reasons. Mistakes make even the most seasoned entrepreneur looked inexperienced. I’ve learned this the hard way when I released a product, a women’s handbag with a pheasant motif, and labeled it a “peasant” handbag in that season’s catalogue. I don’t need to say that the “peasant” bags didn’t sell very well and I felt quite silly being told by every other client about my error.
So- do as I say not as I do!
Jenifer Forrest
So- do as I say not as I do!
Jenifer Forrest
Sunday, June 29, 2008
TBDC's new website
Yay! - The renovated TBDC website is live. I have to say that being involved with this project has been an educational process for me. Don't believe anyone who says it's a piece of cake that can be easily managed by one person. Just choosing images can take hours if not days, not to mention creating and editing new copy for each page.
If I can offer any advice it would be to be absolutely clear on the purpose of your website before proceeding. Think of your website as an employee, what are your expectations and what measurements will you put in place to gauge performance? Would you hire anyone without a job description?
In closing, can you do it yourself? Probably yes.
Perhaps a more important question to as is: Should I do it myself? The answer to this question will depend on how you plan to make the best use of your resources.
Richard Sakanashi
If I can offer any advice it would be to be absolutely clear on the purpose of your website before proceeding. Think of your website as an employee, what are your expectations and what measurements will you put in place to gauge performance? Would you hire anyone without a job description?
In closing, can you do it yourself? Probably yes.
Perhaps a more important question to as is: Should I do it myself? The answer to this question will depend on how you plan to make the best use of your resources.
Richard Sakanashi
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