Seven key areas to focus on to increase profitability

Getting more of your ideal customers is key

Seven key areas to focus on to increase profitabilityJerry reached out to us because he wanted to get out of his business. The business, he said, was “too stressful,” and he “was tired of struggling.” During our discussions with Jerry, we discovered that while the business was doing several million dollars in sales, it was only marginally profitable. Jerry had to work extra…

Playing the game of business to win

Running a business is much like coaching a team

Playing the game of business to winAl Erricson was my basketball coach in 1982 – he’s learned a lot about coaching since then. If only Al knew then what he knows now, we might have won a game or two. What Al knows, and every business owner and manager should know, is that being successful is not all about skills. It…

Five things you should leave your successor

... if you want them to succeed

Five things you should leave your successorThe great resignation is being talked about by people around the world. Not only are baby boomers retiring, but many people who have suffered from pandemic burnout are also changing their positions, selling their businesses and moving on to follow their passions. However, having invested time and energy into our positions, organizations and companies, we…

How to deal with insubordination among your staff

Do nothing? Fire the staff member? Throw in the towel and sell the business?

How to deal with insubordination among your staffGeorge has a small manufacturing plant he bought six months ago because it had good revenue and came with some real estate. However, he didn’t know much, if anything, about the industry. The previous owners kept everything in their heads and had very little documentation. George quickly realized that customer orders were being lost, there…

Are you affected by business traumatic stress disorder?

Many owners are traumatized by insistent bankers, creditors, suppliers and landlords

Are you affected by business traumatic stress disorder?Jim was visibly upset when he sat down for our coaching session. He told me that, the previous day, one of his staff had yelled at him during a meeting with his team members. He, too, lost his cool when the staff member “freaked out at him,” but he eventually walked away. This wasn’t the…

What you can do to attract and hire better candidates

Competitive salaries, fitting benefits, flexible schedule, value-based hiring, and creativity

What you can do to attract and hire better candidates“We just can’t find anybody qualified to do the job for us.” This is a line I hear regularly in working with clients lately. In some parts of the country, there’s a drastic shortage of labour. That’s putting a strain on the ability of many leaders to fill spots in their organizations with qualified staff.…

Seven things most business leaders and entrepreneurs fear

By understanding psychological barriers and working on them, we can achieve things thought impossible

Seven things most business leaders and entrepreneurs fear“One of the greatest discoveries a man makes, one of his great surprises, is to find he can do what he was afraid he couldn’t do.” – Henry Ford Take a look at most leaders and you’ll think that they have it all together. When they’re facing outward, many portray a sense of vision, assurance,…

Five ways to get the most from supplier relationships

Your suppliers want you to succeed. When you're doing well, they’re more likely to succeed too

Five ways to get the most from supplier relationshipsThe relationships we have with suppliers are often critical to our success in business. But most business owners and managers don’t understand how to leverage those relationships for better results and increased profitability. Here are five ways to get the most from your suppliers: Invest in the relationship Your suppliers can make or break your…

The costs and benefits of letting your customer service slip

When we don’t care about clients, we create a culture of complacency that infects our whole organization

The costs and benefits of letting your customer service slipOne of my in-laws spent two hours on hold with an airline company last week after his travel agent had spent four hours on hold with the same company. When I asked him about the experience, he said he was happy he didn’t have to wait longer and said the person who answered the phone…

How to turn your next tradeshow appearance into $50,000

The key to success is to have a plan

How to turn your next tradeshow appearance into $50,000Tradeshows are coming back, and while many people are looking at reconnecting with people within their industry, it’s often difficult to identify whether there’s value in going to a tradeshow. Yes, there’s the relationship building, the new products and the parties. But have you ever wondered if it’s worth your while to show up in…

Valuable leadership lessons from 14-year-old boys

Sometimes teenagers are smarter than we give them credit for

Valuable leadership lessons from 14-year-old boysHave you ever wondered what a teenager could teach you? Probably nothing, you might think. But I recently had the opportunity to coach a group of 14-year-old boys through their four-month basketball season. This is what I learned about leadership from them: Angry? Get over it Fourteen-year-old boys are prone to losing their temper when…

Want to sell your business? Here’s what you need to do

It could take a year to sell but if you’ve taken the time to prepare it can be much faster

Want to sell your business? Here’s what you need to doSelling your business can be exciting and scary. Often business owners aren’t sure what to expect. It typically takes much longer to sell a business than it does a house, up to a year in some cases. However, under the right conditions – when you’ve taken the time to prepare your business – the sale…

Eight pricing mistakes you might be making

Small business owners often don’t think about pricing until it’s too late

Eight pricing mistakes you might be makingLast week, you walked into a business or viewed something online and you questioned the price of a product. Something didn’t seem quite right. Perhaps the item or service seemed too high. Perhaps it seemed too low. Leaders make a variety of pricing mistakes over the years of operating their businesses. I’ve made many of…

How your employees can build or destroy your brand

Employees play an integral part in the success or failure of a business

How your employees can build or destroy your brandWe were walking by the Vancouver airport recently and an employee was standing outside of the Plaza Premium Lounge greeting passersby and encouraging them to try the service. More akin to the credit card hawkers you typically find in an airport than a lounge greeter, this woman was engaging and aiming to please. If I…
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