Archive for the ‘Leadership’ Category
Choosing the Right Buyer
You’re being courted by a handful of companies that want to purchase your business. Wow! That’s an exciting scenario that many entrepreneurs strive for and consider essential validation that they’ve been successful.
But, the truth is that rather than being an easy destination in itself, this is a critical cross-roads that takes a great deal of determination, patience and focus. The countless number of issues that you need to address include:
- How do you choose between potential buyers?
- Is this the right time to sell?
- What’s your role going to be once the purchase is complete?
- What are your key measures of a success?
- When should you walk away from the deal?
- Who should you involve in the selling process?
- What are the likely surprises that you’ll face?
To get the answers to these questions in BusinessCast #142, we interview Chris Carder, President of Thindata 1:1 — one of North America’s leaders in multi-channel and database-driven marketing solutions.
In March of 2008, Transcontinental purchased the company that Chris and his partners built. So, in BusinessCast #142 Chris provides practical hands-on insights and candidly shares his pre-purchase concerns and post-purchase lessons. This is essential listening for any entrepreneur who ever thinks about selling their company.
*A reminder of upcoming (Toronto) events critical for all business leaders:
- The Art of Marketing (March, 2010)
- Emetrics Marketing Optimization Summit (April, 2010)
The Boss’s Survival Guide
In BusinessCast episode #141, internationally renowned business author Bob Rosner sits down with Robert and me to share insights from his updated best seller, “The Boss’s Survival Guide“. Always presented with a great sense of humour, Bob’s advice ranges from the contentious to the sublime.
But, whatever type of business you are leading, chances are you’ll find at least one practical business nugget that you can begin implementing tomorrow in BusinessCast episode #141.
*Reminder of upcoming (Toronto) events critical for all business leaders:
- The Art of Marketing (March, 2010)
- Emetrics Marketing Optimization Summit (April, 2010)
A New Breed of Entrepreneur
Entrepreneurs are evolving — successfully adopting new business models, new technologies and finding new ways of penetrating markets. That’s why in BusinessCast #140, Robert and I sat down with Jessica Herrin, Founder and CEO of Stella & Dot. Jessica is a successful serial entrepreneur perhaps best known for building and growing The Wedding Channel.
Well, Jessica’s entrepreneurial acumen is back in full force with Stella & Dot — a wildly successful direct sales business that has grown quickly and profitably by anyone’s definition. In practical terms that means she’s seen her workforce grow to over 5000 engaged, committed and enthusiastic members (called “Stylists”) in under three years! Much of this success is because Stella & Dot has tapped into, and enabled, a new breed of entrepreneur.
Then we spoke to one Toronto-based “Stylist” to get the inside scoop into this new breed of entrepreneur. The findings are inspiring for any business leader and manager!
Listen to BusinessCast #140 and you’ll learn some of the keys to Stella & Dot’s rapid success. Then, visit Stella & Dot as well as the website of our guest stylist to see how Stella & Dot actively uses social media and web technologies to support their growing workforce.
Finally, using the latest Internet technologies and tools is a critical part of Stella & Dot. But, if you’re like most entrepreneurs, you need to get a handle on some key online metrics before truly optimizing your online/social media efforts. In just a few weeks, many of North America’s leaders in “e-metrics” will gather in Toronto to share their insights and stories for entrepreneurs at the Emetrics Summit. Robert and I will be there as accredited members of the media. Let us know if you plan to attend and we’ll meet up.
Ensuring Client Retention
Customer acquisition — it’s often considered a strong indicator of a company’s growth and success. After all, securing new customers/clients gets considerable glamor and fanfare. However, while it is essential to initiate, plan for and track efforts targeted at bringing on new customers, it can’t be done without understanding the critical (and dependent) relationship it has with your efforts to retain your existing customers.
That’s why for BusinessCast #138 — Ensuring Client Retention — Robert and I sat down with Benjamin McAlister, Vice President of Account Management at Thindata 1:1. Benjamin shares with us the “nuts ‘n’ bolts” of keeping customers — and keeping them wanting more of your products/services. That means we cover topics including short- and long-term steps as well as key metrics — beyond customer turnover rates — that can help you quickly identify/reduce the risk of customers abandoning you for your competitors.
Another useful resource: A previous BusinessCast guest and leading entrepreneur, Thindata 1:1’s President, Chris Carder has a powerfully focused list, that works in tandem with Benjamin’s approach, to help ensure your customer retention is optimized.
If you are in a competitive industry, listen to BusinessCast #138 — Ensuring Client Retention and you’ll get some practical steps that will see your top line grow — even without acquiring new customers.
Leaders, Managers and Challenges
For the last 10 years, John Turley-Ewart has contributed to and edited the Financial Post — making him one of Canada’s most respected business and political commentators.
So, for BusinessCast episode #137, Robert and I sit down with John to discuss some of today’s most pressing issues facing business executives — as well as the essential skills that business executives need to ensure their success.