Archive for the ‘Risk’ Category

For BusinessCast #171 Robert and I sat down with Dave Fleet,VP, Digital at Edelman (Toronto) to address a scenario that businesses around the world are increasingly having to address. And, the stakes could not be higher: your business reputation…which, of course means either the success of your business success or its downfall.

Here is the scenario (as applied to a large financial institution):

A Canadian-based financial services company has launched a campaign that renews one of its seasonal consumer-based investment products (e.g. RRSPs). They have spent their resources on traditional media (including television, radio, direct mail, in-branch literature and outbound telemarketing) as well as leveraged their permission-based email program, search engine marketing and ad-buys on some well-known consumer sites (e.g. national and local newspapers as well as investment sites).

Everything seems to be going on as expected but, then they get thrown a curve ball: Four days ago their call centre started receiving a dramatic increase in calls revealing that a message is floating across Facebook that their investment product is somehow unreliable.  At the same time, one of the SVPs has just seen that a local financial community influencer with nearly 10,000 loyal Twitter followers has just posted a message slamming the product. Finally, the spill-over is having an impact on in-branch conversations with consumers as well as in the B2B areas of the bank.

In BusinessCast #171 Dave provides insights about how to use social media to protect the business reputation by answering the following questions — questions that are applicable to all businesses facing this type of scenario:

• What are the most immediate actions that you would advise the company to take?
• What is the best way to evaluate the damage done to the reputation of the brand and its product?
• What can the company do to make sure that there is little spill-over into other areas of the its business?
• What are the measures of success that you would recommend to demonstrate success?
• What kind of timetable is required to execute the key recommendations?
• In what areas are the major hard dollar costs associated with the key recommendations?
• What are the most common knee-jerk reaction activities that the company should avoid taking?

Listen to BusinessCast #171 for Dave`s insights on how to use social media to protect and enhance the reputation of your business.

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As your business grows, have you ever hoped, perhaps secretly, for some way to avoid those costly and time-consuming pitfalls that are a natural, but painful, part of your inevitable success? Well as it turns out, entrepreneurs just like you often confide in Robert and me a desperate need for practical ways to steer clear of common business hazards.

That’s why for BusinessCast #162, we sat down with Rick Spence to uncover today’s most common “entrepreneur bear traps” — those traps that snare even the most thoughtful, innovative, well-funded and profitable businesses.

Rick shares our passion for helping entrepreneurs achieve professional and personal success. For over 20 years, he has shared his observations and insights in many of North America’s most widely-read online and offline business publications. Together with Rick, we identify and tackle today’s “entrepreneur bear traps” in business strategy, marketing, operations, financing and human resources.

Listen to BusinessCast #162 and avoid some entrepreneur bear traps before they catch you off-guard.

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When was the last time you and your team planned for an emergency? If you’re like most entrepreneurs, your answer is “We’re far too busy to plan…” or “We’ve already taken precautions to prevent emergencies…” or “We aren’t at risk…”.

Well, the truth of the matter is that all you have to do is open up a newspaper to find instances of business leaders just like you who have suffered great personal and professional losses from not having a current, relevant and flexible continuity plan (i.e. business disaster plan).

That’s why in BusinessCast episode #133 — Be Prepared: Continuity Planning — we reached out to get the most current insights about how and when leaders in growth companies should plan for emergencies. Our guest is American Express’ VP and General Manager, Howard Grosfield. Howard shares with us the results from American Express’ recent cross-Canada research of growing companies’ current state of continuity planning.

Listen to BusinessCast episode #133 and you’ll understand how your emergency planning stacks up against your competitors. At the same time, you will find practical tips for helping you determine how and when to cost-effectively develop a relevant continuity plan for your company.

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Privacy is such a fundamental part of business success, that it often goes overlooked. And that can be a serious problem given the negative repercussions of not properly meeting your obligations — and customers’ unspoken expectations — about how their private information is to be managed.

That’s why for BusinessCast episode #129, Robert and I sat down with Dr. Ann Cavoukian, the Ontario Privacy Commissioner along with the two co-authors of an exciting new privacy toolkit — aimed squarely at helping entrepreneurs.

Listen to BusinessCast episode #129 and you’ll get a quick grasp of the privacy issues that are relevant to you and get a sneak peak into a practical tool that will help you transform privacy practices into good business.

**Also check out the ThinData-authored Marketer’s PIPEDA Checklist which instantly provides you with three easy-to-use tools to ensure that you comply with Canada’s Federal privacy laws when marketing online.**

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One of the many things that all successful entrepreneurs have in common is an insatiable need to bring their innovations (i.e products, services and/or processes) to the market. But, a key question that often gets trampled in the midst of entrepreneurs’ enthusiasm is “When is the right time?”

Because short- and long-term success depends so much on timing, for BusinessCast episode #128 Robert and I sat down with Steve Taylor, President of Resolver Inc. to gather his insights about evaluating the right time to launch/grow a successful business.

Listen to BusinessCast episode #128 to get a clear sense of some of the key timing considerations and how you can ensure your success by increasing your state of business readiness.

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