Finding the Why
Our neighbourhood seems to be on the radar for questionable-ethic door-to-door fundraisers. You likely know them: the folks that ring the doorbell, then knock 3 or 4 times in rapid succession (to communicate urgency), and stand about 18″ from the open door as they deliver their canned pitch. I find their approaches insensitive, terribly timed, … Read more
Who Owns Your Customer Relationship?
Most industries have lead generation platforms that drive traffic, qualified leads, or closed sales to their subscribers – which of course is a good thing. Good third party platforms send all client/prospect data to the subscriber, in exchange for their monthly fee and/or a reasonable commission (if it’s a closed sale that’s sent). But some … Read more
Cash Flow, or…What?
Recently, we were involved in the evaluation of a business’ growth plan. The group developed a thoughtful plan that captured their product, and their sense of market opportunities. It identified sales growth opportunities. …but it failed to fully answer the key question: ‘does it generate substantial marginal cash?’ It didn’t. So the central question became: … Read more
To App or Not to App?
…is that really the question? Sure, an app can be made for any business relatively inexpensively these days, and get it listed in the major app stores for next to nothing. …and then what? Well, if you’ve gone down that path, congratulations, you’ve started a new business. You now need to dedicate promotional dollars, time, … Read more
The Social Media Dead Zone (and how to cut through)
In a recent municipal election in my district, my neighbours and I were surprised at the aggressive advertising of a candidate who was – in our view – previously a relatively unknown, under-performer. We hardly knew the guy, yet here he was, blanketing our neighbourhoods with signs, brand-wrapped cars, and more. He really seemed to … Read more
How Good Is Your Food…Really?
Ohh boy…this is a hot one. Every restaurant manager, chef, and owner that we speak with believes – knows – deep in their bones – that their food is, well, amazing. After all, they are well-trained, invested heavily in their business, and simply cannot fathom that a contributing reason for mediocre financial performance is (let’s … Read more
Impediments to SMB Growth
Innovation, Science, and Economic Development Canada released a detailed analysis on the profile of the recipients of the Canada Emergency Business Account. The report presents a business profile of small and medium-sized enterprises that received loans from the Canada Emergency Business Account in 2020, a component of the federal government’s COVID-19 Economic Response Plan. It … Read more
Downtown can be Turned-Around
We see it in almost every town: blight. It starts innocently enough, when the first payday lender opens up on the fast food strip on the outskirts of town. Then, it picks up momentum, when the second shop opens across the street. Then downtown. Then across the street from that location. Then a rent-to-own furniture … Read more
5 Practical Steps to Manage Inflation
Inflation is a reality for businesses of all sizes and in all industries. Impacts include increases in costs of raw materials, labour, transportation, and more. Businesses of every size need to adapt and optimize their operations to stay competitive during inflationary times. Here are a five strategies that businesses can use to optimize their operations … Read more