Lost the passion? Not making enough money? It's decision time
Jen’s business was on the rocks but I was a bit surprised when she came into my office and told me she had just taken a job. Jen’s business was 18 months old, and she had been referred to us for business development to help her capture a new market. Our previous two meetings had…
Ten ways you might be cheated and what you can do to reduce your risk
James and John came into my office one day and were noticeably shaken. James had just come from the accountant and learned that his business had lost $400,000 in the previous year. In obvious disbelief, he asked if I could help him figure out what the problem was. In our discussion it came out that…
Focus on being honest and ask for help, consider a sabbatical and trust yourself
I bumped into Julie’s father at the grocery store and asked how his daughter’s business was doing. He told me she was going through a rough patch, so I called Julie. The first thing I noticed was Julie’s voice: the excitement was gone, and her energy seemed depleted. She told me about everything that was…
What would happen to your business if you were unable to continue?
My father had a stroke last week. Thankfully, at almost 83, this is one of the first serious ailments he has had in an otherwise healthy life. However, observing the debilitating effects and chaos that a serious illness can have on a person and family made me understand the need for leaders to have plans…
Here's what you can do about it
If you’ve ever been in a leadership position, you’ve probably gone through a time when you didn’t feel very effective. Perhaps you were sitting at your desk wondering what to do next. Maybe you felt overwhelmed with the tasks at hand and wanted to give up. This might have happened when you had staff who…
Many business owners are struggling to survive. These grants could help
With the changes in the economy, many business owners are struggling to get a foothold on what they need to do to ensure their business is stable now and into the future. As a business coach, I’ve seen some tremendous transformations when businesses have had the opportunity to hire outside help to guide them towards…
Don't stumble on the road to success
Mike and James had a big plan to sell more of their widgets. The widgets they built were wonderful. They had numerous testimonials that these widgets changed people's lives. Mike wanted to grow this aspect of their business and James agreed. They came up with a plan, built the brochures and sales materials, started down…
When we slow down, look for options and are creative in our thinking, we save money, time and energy
It was my lucky day when Emile told me he had some roadkill in his freezer that he would trade for a couple cases of beer. Not so lucky for the cow that had been hit by the semi on the highway, I guess. Emile told me he had lots of steaks in the boxes…
The cost of monitoring for passports is something that small businesses neither want nor can afford
Requiring vaccine passports is bad news for small businesses that have already faced the brunt of COVID-19 restrictions and lockdowns. This new requirement that people wishing to be served at establishments like gyms, restaurants, bars, airlines, tourist attractions and concerts must give proof of vaccination is a troubling development for businesses are already struggling. The…
Those who can adapt will thrive
I recently facilitated a meeting of a group of more than 100 retailers. Seventy per cent of them were either fearful or concerned about the future of their stores. And so they should be. Retailing is changing – you would have to be blind not to see that. When I started in retailing in the…
Finding a leader who’s not burnt out by COVID-related uncertainty is like finding a unicorn
If you’re in a leadership position and feeling burned out, you’re not alone. It seems weekly leaders tell me they’re fatigued, exhausted or burned out. I’m not surprised. In fact, as we prepare for the seemingly endless next waves of COVID-19, finding a leader who’s not tired of the uncertainty is like finding a unicorn…
It’s time to take the plunge
Christopher O’Byrne stood on the edge of the cliff, looked down, considered jumping and then stepped back. He repeated the process over and over. He would walk away and then back. His mind told him to jump, but his body just wouldn’t do it. Christopher knew he couldn’t take the internal dialogue or the taunts…
The invigorating power, money and control involved in running a business can cause evil decisions
In early 2000, I had to fire my wife from our startup business. The business was struggling and my wife was involved in running one of the departments part-time, between looking after our kids and working as a counsellor. Sales in the department and the store as a whole weren’t going as expected and we…
But it takes courage to ask for help
“I told myself I wouldn’t cry,” said the woman on the other end of the phone as I asked her about her business. Patiently I waited for her to dry her eyes and compose herself. She went on to tell me how this year has been tough, and now she is struggling to stay afloat.…
Selling a business is no easy walk in the park – there’s considerable hard work to prepare your business for new ownership
After a couple of years of pandemic stress, business owners are pondering their next steps. You might be an owner who has decided perhaps you’ve benefited from the crisis, had some great years and are ready to move on. Maybe you’ve realized you don’t want to deal with the stress of lockdowns and crisis management…
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…