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Tag Archives: owning a business

There is No Magic Pill for Small Business Success

If we could just invent a magic pill that business owners could take to solve all their problems – our business problems would be solved too! And a lot of times, we come across business owners looking to us to provide the magic pill. While you might think they would be good clients, actually they are not. It never works unless the business owne... Continue reading

Going Golfing Guilt of Business Owners

One of the quality of life improvements we support at our firm is the ability to take a regular afternoon off to play golf.  This is a therapeutic and productive way to relax and re – energize for a business owner. It can also be a productive business development outing. The problem is that this outing can bring a feeling of guilt. This guilty ... Continue reading

Rick Spence – 7 Great Secrets of Entrepreneurial Success

[caption id="attachment_1297" align="alignright" width="100" caption="Rick Spence"][/caption]Rick Spence is a Toronto-based business writer, consultant and speaker. He provided the keynote talk at the kickoff of Startup Canada’s visit to Windsor this week. The event was hosted by the Odette School of Business, where I am the Entrepreneur in Resid... Continue reading

Lifestyle Business or a Scalable Business?

I have always thought of a 'lifestyle' business as a good thing to have. When I was researching the topic for this blog post, I came across several derogatory comments about lifestyle businesses. There also appears to be some confusion in the definition of a lifestyle business. Wikipedia defines a lifestyle business as: “a business that is set u... Continue reading

3 Ways to Motivate Yourself and Your Team

Although first published in 1959, The Magic of Thinking Big, by David J. Schwartz, Ph.D  has lots of timeless and valuable ideas. He suggests: “To activate others, to make them enthusiastic, you must first be enthusiastic yourself.” I totally agree. Dr. Schwartz provides 3 ways to get motivated or activated: 1)      Grow the ‘I’m a... Continue reading

Vacation – Tax Deduction?

Wouldn’t it be great to take a winter vacation and get a tax deduction too? The first person to convince is your tax advisor and the second review could be by the income tax authorities. Here are some tips to assist in your negotiations: Be real – I am strong supporter of getting away from the day to day business distractionsto focus on st... Continue reading

Easy Refunds or Epic Battle

What is your business's policy? There seems to be two very different schools of thought on how easy it should be for a business to issue a refund, deal with a cancellation or honour a guarantee. When I cancelled my cable a few years ago they promised to issue a refund to me for $68. It didn’t come for a few months so I called and asked about it... Continue reading

Now is the Perfect Time to Start a Small Business

4 reasons why now is the best time to start a small business: Technology advancements – The cost required to invest in the technology needed for your new business is at an all-time low. Only a year ago I spent $20K upgrading the server and backup system at my physical office building. Today the 'cloud-based' technology is becoming a realistic op... Continue reading

Improving Employee Communications in a Small Business

As a business advisor, I have noted time and again that effective employee communications in a small business can increase efficiency and create value within the employee-employer relationship. Let’s start with a short story:  Two co-workers are discussing an issue. Each one is confident their point of view is 'right'.  In order to resolve it... Continue reading

Burn the ships! Take courage in advancing your business strategic plan

Legend has it that when a military leader landed on enemy shores with a smaller army than the opponent, he ordered his men to” burn the ships”. He did this to obtain a commitment from the soldiers to execute the plan, and eliminated the option of turning back. Don't turn back at the first sign of challenge I find this analogy important for a ... Continue reading