Though both my business partner and I have worked for several small businesses over the years, in various phases from start-up to established small businesses and have even been a General Manager for one, it was not until we started my own business that I had a true appreciation of what being an executive was versus the business owner. As a business owner, the buck stops with you and are responsible for the overall direction and financial profitability of the company. I had written many busin...

All of us think that  lead generation as a pretty simple concept and yet if you ask 10 different people what it is and how they do it – you will get 10 different answers.   Many believe – we will  market to someone and they will come.   The truth of the matter is they will come if you have put the right lead generation strategy in place for your business.  If you develop a strategy that is right for your target market, that can be implemented within your budgetary constraints, and follow-...

Be sure when you engage someone to write your business plan that you are going to receive a full business plan and not just a financial plan.   A financial plan is key to the overall business plan but is not something that can really be done accurately until you have done due diligence on your overall business plan which includes:  market analysis, company direction and history, have an understanding of your products/services, product strategy, pricing strategy, promotional strategy, sales st...

There is so much more to a business plan than the right template or format.  A template is nothing more than an outline but together by those who understand what is needed in a business plan and they provide the headings and few sentences on each section.  It is actually the content itself that is most important along with understanding what the bank, grant provider, or investor is looking for in a business plan.  Many entrepreneurs are able to articulate the overall premise of their business...

Linkedin is the best B2B online networking tool that I have seen or used.  I have been using the site myself since 2005 and upgraded to a business account 3 years ago.  Each time I use the site I find more and more value in it as a premiere Social Networking site for business. I thought I would pass along what I have learned, so that others might receive similar benefit.

When I first joined the site, it was more about it being the “new” way to network and I will admit I initially just stuc...

A problem within your business can be very much like diagnosing a cold.   There are symptoms like a cough, sore throat, low grade fever, runny nose, and congestion.  The difficulty lies in that those are symptoms of several illnesses like the flu or even early onset pneumonia. If misdiagnosed, you could treat for the wrong illness and could get worse instead of better.

The same is true in business.  A problem can be seen as or manifest itself in one way, but could be a symptom of a completely ...

Have you ever heard the saying “Have a good customer experience, tell 5 people or have a bad customer experience, tell 10”?   It is even more important as a small business owner that this is etched in your head every time you or your staff is dealing with a prospect or customer.  We all are left dealing with large corporations that provide poor service because they in some cases are a monopoly or their competitor is the same, such as anyone’s telephone carrier.   It merely becomes the l...

Are you as small business owner that is a baby boomer asking yourself – how in the heck is Twitter and Facebook that my kids use going to help my business? If you aren’t sure or haven’t even considered Social Media, then you need to think about the following. Who are my customers and how are they influenced? If you answered that all of your customers are 50 and over and would never use Social Media, then think again. Ask yourself who influenced that decision maker and how that person ma...

Have you had an idea in your head of what you believe your company is worth and tried to raise money or sell your business recently and been surprised at the results?  Sometimes it is hard to realize that a business that you have given your sweat and tears to is not a viable business to someone else or to others who you have asked to invest.   There are many reasons why this could be the case.

Have you ever been approached by someone saying they can develop a website or a marketing brochure for you for what you truly believe is a reasonable price.  You then have them develop the site or brochure and then you still wonder why people are not visiting your site and you have 5000 brochures in the closet that your sales force or channels never use?  So many businesses feel that having a strategy is for “big business” and is not important to them, but the truth is not having a strate...

Have you ever seen a company decide they want to create an indirect sales channel for growth and geographic expansion, but yet do everything they can to make sure they are not successful? It is hard not to just scratch one’s head and wonder if these companies do not understand channel success factors or some within the company actually want the channel to fail to prove they don’t work.

Before building a channel, there first must be an understanding of what are the appropriate channels for ...

When you started your business and determined you needed a lawyer for a particular reason, did you find yourself calling someone you knew or someone a friend recommended and didn't really look to see if they were really the person or firm to provide you the best counsel on what you needed? So many times this is the case and can be such a mistake and end up costing you more than you really need. Just because someone charges $500.00 an hour and is on Bay Street in Toronto, this does not mean th...