Thursday, August 15th, 2013 at
The obvious person who should read my book (you noticed I used should) is the youthful entrepreneur wanna-be who knows they have an idea bubbling in their youthful brain, can’t find a job in any field or maybe they are unemployable, but that usually happens later in life.
As I ponder, I realize my book wasn’t geared to a certain age bracket. I wrote it for those of us, at any age, who feel that they have something they want to do differently from the milieu, who want to be their own boss and determine their own future and yes, those who can’t find a ‘job’ in a chosen field.
As I went deeper I realized there are mainly two distinct age groups; the 25-39 age group (hey at 40 it all changes anyway) and the over 55 age group. Read the rest of this entry
Monday, September 15th, 2014 at
Passion – We all start our businesses with passion and excitement. After a while with the fledgling start-up growing we sometimes forget why we started the business because we get weighed down with ‘stuff’. Have fun!
Cash Flow – One of the biggest issues with entrepreneurs is how to deal with money – most manage money poorly. Be sensible, get a bookkeeper rather than doing it yourself and have a look at your books often so you will know how your business is doing at any moment. A hasty purchase can be deadly to a start-up. Read the rest of this entry
Wednesday, September 10th, 2014 at
Guest Blogger- Cecile Peterkin
You might think that choosing your startup business name is just one of the minor things you should do for your small business venture, but it can definitely end up being one of the biggest decisions you are going to make in the early stages of building your company. It is your business name that will help you determine what domain name you may have, what your trademark will be, and how you are going to be identified by people. Needless to say, your startup name can play an important role in how your business will be remembered by your clients or customers. Thus, it is vital that you spend time thinking of the most appropriate name for your startup business. Below are some things to remember:
1. Beware of words that sound alike. According to experts, it is not a good idea to choose a business name Read the rest of this entry
Monday, August 18th, 2014 at
So your once little startup is beginning to grow but it’s starting to show some cracks. It’s getting to the point where you need someone besides you to manage the books. It’s getting to the point where you need to find more people because you are bursting at the seams. What do you do to keep that once small operation exciting, your staff enthusiastic and your work environment fun?
1. Collaboration- Gather your team together and collaborate on the ‘next step’. Let them in on the big picture so as change begins they will embrace it rather than feel left out of the loop.
2. Hiring- I was in a warehouse the other day and was shocked and amazed to see the buzz. Read the rest of this entry
Thursday, August 7th, 2014 at
I’ve been working with start-ups for a long time. I often get asked about investors and how to put a financial plan together so an investor will pump needed capital into the business. Salaries is a huge issue.
A budget is not tough to put together covering ‘all’ your expenses but people fail to have a realistic ‘burn rate’ (that’s the amount of money they go through every month.) Most people put in their own money to start then take some of it out when they are earning revenues. The determination of salaries of the startup execs is a very tricky issue and is a major concern for the investor.
In my experience investors want financial control over expenditures, salaries need to be lean (meaning low) and quite often the investor will put a trusted employee in the role of Chief Financial Officer to watch funs especially if the investment is large. It all makes sense. Read the rest of this entry
Sunday, August 3rd, 2014 at
Guest Blogger- Cecile Peterkin
With the advent of the internet, it has become possible to almost anyone to start a business that sells services or products. The web also made business, culture and news accessible and available to everybody from all around the world. Globalization and the bigger market is definitely one thing that many entrepreneurs are seriously trying to take advantage of these days.
As a businessman, it is enticing to go global with your business, but is this always a good move? Let?s take a deeper look into this matter.
Culture and Language
One example of a cultural and language gaffe that many companies need to consider before expanding globally is offering discounted prices in Japan. In this country, discount pricing is only for inferior and low quality products. To avoid cultural or language conflicts, a good idea is for a business to find a reliable partner company or investors in the target country. By doing business according to local customs, you have an increased chance of accessing lucrative markets abroad. Read the rest of this entry
Saturday, July 19th, 2014 at
A lot of my contemporaries don’t get Twitter and other Social Media, heck some of them still struggle with email. It’s a sad state of affairs but then I have always been an early adopter and slightly ahead of my friends on anything Internet related. Twitter, after all, is simply a one-to-one communications platform built around conversations. With over 500 million users and 10,000 new followers a day it can’t be ignored. Twitter is easy to navigate and you can ‘get it ‘ within minutes of joining. Check some easy terms about Twitter here. I wrote a recent blog on Social Media & It’s Impact on Business but thought I’d get more specific as to why you should be on Twitter.
- Targeted Followers – A lot of Twitter accounts with high followers get them nefariously and often many are fake accounts or frivolous. I know here mine come from, the niche they are from, what time of day is best to reach them and what content appeals to them. My target is entrepreneurs, small business and those influencers around them. With a strategic plan Read the rest of this entry
Wednesday, July 16th, 2014 at
1. Entrepreneurship is in Your DNA.
I gave a speech to a room of immigrants and a little old South Asian woman asked me if it was too late for her to start a business. I asked her if there were children on the street where she lived in Vancouver. When she said there were many, I suggested an afterschool care program for older kids. Bring in 3 or 4 and make a business out of it. She started her little business at 89. Some people are better at figures than me, some better at planning than me but we all have our strengths. Combined it seems like they are ‘born’ entrepreneurs but those people have just combined talent with enthusiasm and learned skills better than others. No they are not born that way. It’s like saying “the Beatles were an overnight success” even though they were turned down several dozen times by record companies.
2. You Are Your Boss.
Holy crow, when you are trying to sell the world your product and service and you sell out at any opportunity to make a sale do you really think you’re in control. Every client or customer will tell you what they want, when and often for how much. Read the rest of this entry