The lessons you can learn from competition are significant
My Olympic fascination started in 1976 when the summer games took place in Montreal. As a 12-year-old, I was glued to our black and white 12-inch TV for the duration of the Olympics between chores on our family’s hobby farm. I imagined myself on the track pole vaulting 20 feet in the air, swimming on…
Reaching out to wayward customers will reinvigorate your sales and allow you to do a lot of market research
Grant was on the ground yelling as I came around the corner at high speed on my mountain bike at dusk. He had flown off his bike instead of hitting a moose standing on the trail. I skidded to avoid him. I could still see two moose, a cow and her year-old calf, on the…
Implement a plan, hold your sales team accountable, and keep updating and changing your sales campaigns
Debra was flustered. She had taken over a business with the intent of growing it but had come to the realization that increasing sales might be easier said than done. She recognized that because of the added overhead expenses of her operations, sales would have to grow 50 per cent from current revenue to ensure…
The results will lead to an outstanding future for your business
Help is a word that’s foreign to many entrepreneurs, so when a caller says they need help, I listen intently. I received such a call in November 2019 from an entrepreneur who had bought into a company and realized that the management team was struggling. “Dave, I need an outside perspective on how to move…
When someone asks what you do, they might really be asking: Who are you?
Norm was a faller. For three years, Norm fell big trees in the wilds of British Columbia. He was so good at his job that he could drop a tree exactly where he wanted and taught others to do the same. Norm could have let his job define who he was and lived the hard-working,…
Find someone you can trust to communicate what you’re going through
On a recent Sunday afternoon, I went over the handlebars of my bike, bent my front wheel and landed on my head. My son Caleb wasn’t surprised – in fact, I’ve noticed he worries about me when we go riding. And I admit I’ve had my share of accidents on my mountain bike. The thing…
A Strava-like mentality can take your business to a whole new level
My cycling buddies have been using the phone app Strava for years to track their rides. While this isn’t novel, the appeal of Strava is that, like Facebook, you can see what your friends are doing and comment on their activity. Unlike Facebook, there’s honesty in postings because your whole activity is measured, not just…
As tourists start their migration toward Canada, there’s hesitancy about the industry's readiness to manage the tsunami of people
Canadians are ready for the borders to reopen and will flock to sun destinations next winter like never before. The number of people who have said that they’re ready to “get out of Dodge” and “fly the coop” is an indication that there’s a pent-up demand for travel and excursions that has been bolstered by…
The big one: Are you willing to make sacrifices?
People reach out to me weekly for advice on whether they should diversify their business and sell an additional product or service. There also seems to be a flurry of entrepreneurial types who see opportunity as a result of the current changes in the economy. They believe they have the next great business idea that…
Lockdowns, inventory disruptions, staffing issues and cash-flow challenges have sapped many entrepreneurs of their passion
The economic climate has changed the way business owners think about their businesses. While my firm worked with companies before the pandemic, helping them to prepare their businesses for transition, there seems to be a flurry of interest from owners ready to exit their businesses. There are several reasons why people are thinking of selling…
Your success in life and business is dependent on consistency and congruency
A client of mine was buying a new business. The company they were purchasing had been successful, but the pandemic had caused it to fail and the value was only in the equipment. When I asked why they thought the business failed, they told me they believed the owner hadn’t been consistent through the pandemic.…
Entrepreneurial diarrhea can leave leaders and their teams exhausted, sapping their energy and consuming valuable resources
“I need your help!” were the first words out of John’s mouth when I walked into his office recently. “We’re starting a new business and I want you to help us figure this out.” As I looked at John, my first thought was: “Oh my god, he hasn’t got this business running properly yet, and…
Experiencing a life beyond our limited imaginations
Early last year, I received a call from Sergey Shchepotkin asking if I would be his assistant coach for the University of Northern British Columbia’s women’s basketball team. I met Sergey when he coached my daughter’s basketball club over a couple of summers and I helped him out at a couple of tournaments. I was…
The list of expenses for business owners sometimes feels never-ending
Profit is one of the most misunderstood and misconstrued words in the English language. Customers often think that profit is anything between a company’s cost for a product or service and the customer’s purchase price. Employees think profit is the difference between the selling price and the cost, less their wages. In reality, profit is…
Managers are worried about accountability and employees are wondering if they will have a job next year
Life seems very serious at the moment. Everywhere we turn, people are challenged with discouraging news about health, the economy, job losses, rising home prices and inflation. Add in mental illness and a raft of other concerns that sometimes seem contrived to keep us worried, scared and paralyzed. This seriousness has pervaded our workplaces, homes…