Archive for the ‘Finding Efficiencies’ Category

We’ve all seen businesses rise and fall. But, why do some businesses implode while others flourish? We’re fascinated to find the different answers to this question which has perplexed entrepreneurs since the onset of commerce. That’s why Robert and I are constantly exploring the critical components and conditions that make entrepreneurs and their businesses succeed.

It turns out that one of the fundamentals to determining success or failure hinges on an often unspoken assumption: entrepreneurs equate business success with their wealth. But, what happens when that isn’t the case? What happens when an entrepreneur’s long-term wealth is hampered by their very own life’s work (i.e. their business)?

In BusinessCast #117 — Family. Business. And, Wealth – Robert and I explore how entrepreneurs can ensure long-term wealth by sitting down with Thomas Deans, author of the widely-acclaimed book: Every Family’s Business. Thomas takes a truly practical — and sometimes controversial — approach to ensure that entrepreneurs can build and sustain the wealth they’ve worked so hard to build…even if that means drastically changing their relationship with the business that’s been in their family for generations. While that might sound sacreligious to many, his disciplined approach and rationale is a wake-up call to every entrepreneur.

Whether you’re managing a family business, selling a family business, investing in a family business or purchasing a family business, you’ll want to listen to Thomas’ insights in this episode of the BusinessCast podcast.

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Successful entrepreneurs are always harnessing the latest technologies and processes to ensure that their business is as focused and efficient as possible. This requires entrepreneurs to constantly be on the lookout for broad trends (e.g. political, social, demographic) as well as industry-specific trends (e.g. market receptivity, competitors, access to resources and required skills).

So, in BusinessCast podcast episode 115 — Business Trends — Part One — we take up the discussion of the importance of trends with Sacha Ghai. Sacha is a Partner at McKinsey & Co — which is one of the world’s leaders in helping companies develop/improve their strategies, technology and operations.

In future episodes, Robert and I will also drill down with other experts on the trends that will have the greatest on entrepreneurs and their success.

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“Green” your business?  Why should you? After all, you’re busy dealing with day-to-day business challenges in the middle of a soft economy. Do you really have time to be thinking “green“? What’s the payback? Will it really matter to your top line or to your bottom line?

Well, “greening” your business means a host of different things to different people. So, in BusinessCast Podcast episode #112 – Greening Your Business — we sat down to get a perspective on greening from an entrepreneur who has a strong track record of successfully implementing green practices. Rob Grand, the President of Grass Roots Store has a relevant perspective for all entrepreneurs. For the better part of 15 years, Rob has worked through the various ways that businesses can become more green. In so doing, he’s weeded through the hype and chosen strategies that have seen his business grow its customer base, its revenues, its brand and achieve operational efficiencies.

If you’ve ever wondered about the value of greening your business, listen to BusinessCast Podcast episode #112.

Here are some additional resources to help you to determine if, when and how you should green your business:

• Government of Canada guide to energy conservation, waste reduction, chemical disposal, environmental inspections and relevant legislation

• A carbon footprint calculator that allows you to play out various scenarios regarding the impact of items such as servers, travel, facilities, etc.
  

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Congratulations, you’ve done it — you found investment funds for your business!  But now, what can you expect from those who have invested in your dream? Is all the hard work really over?

To answer these questions, in BusinessCast Podcast #106, we sat down with John Loewen, CEO of Loewen & Partners, a specialty private equity investment bank, to help provide clarity about what life is like for entrepreneurs after receiving investment funds. It turns out that this can be a great time — if the “fit” is right. John brings a wealth of experience as well as provides some straight-talk and practical insights.

After listening to BusinessCast Podcast #106, you will be much better informed about what you can expect after you receive investment and therefore when it’s truly the right time for you to seek and secure investment.

When you are ready for investment make sure that you listen to BusinessCast Podcast #74 – Money Magnet -- where we review one of the finest and most effective resources to help entrepreneurs secure investment funding.

Don’t forget to enter the contest to win a Blackberry Bold! All it takes is 100 words (or less) on why a Blackberry Bold will help your business.

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We know the cost pressures that entrepreneurs are facing today. So, Robert and I sat down to identify practical advice that entrepreneurs can take to save costs now. And, that’s why BusinessCast Podcast #100 – Cost Cutting for Entrepreneurs is very straight-forward.

Of course, keep in-mind, before cutting costs across your company, ask yourself two key questions:

• Are we acting as efficiently as we can?
• Are we doing anything that we should not be doing?

Often answering these questions for yourself generates the greatest cost-savings for your business.

Finally, here are two other good resources for cost-savings tips:

• 75Ways to Cut Costs Now (organized by functional area)
• Cost Cutting Tips for Retailers

Don’t forget to enter the contest to win a Blackberry Bold!

Subscribe to the BusinessCast Podcast at iTunes