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…
Whether it’s a manager having trust in a staff member, employees having trust in their leader or leaders having trust in their decisions
As a child, I had a tremendous fear of falling. I would climb a tree and couldn’t trust that the branch wouldn’t break. I climbed cranes, cliffs and buildings, and was always afraid that my footing would slip and I would fall. Perhaps that fear was grounded in the fact that I had already fallen…