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Covid-19 is creating utter chaos for many small business owners. Fear is taken hold of many owners as they wonder what’s next? No one knows when or if they’ll reopen. Most don’t want to admit out loud what they are secretly thinking-bankruptcy. It’s just too difficult to fathom.
Making any kind of decision while under duress is never a good idea.
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A few months ago, I finally did something that I had longed to do but just never got around to it. Not quite a bucket list item, but pretty close. That something was to drive a race prepared car on a closed road course. Calabogie Motorsports offers just such a program. The road course is just a hair over 5 kms that has 20 turns and enough of a straightaway to get you to question your sanity.
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I’ve been considering this topic for quite some time but wasn’t sure it was worth addressing until a recent trip to New York City.
Having been out to dinner, we returned to our hotel and were waiting for the elevator to make its way to the ground floor. When the door finally slid open there was a young lady getting ready to disembark.… Read More
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Small business owners are faced with a myriad of challenges every single day. If it isn’t sales, then it’s receivables and if it isn’t receivables, it’s operations. Add to this the hundreds of thoughts they are juggling trying to sustain their enterprises. Always at the top of their worry list is how to keep their staff focused and motivated.
Unlike much larger corporations, small business owners usually don’t have the financial resources to implement sophisticated incentive programs.… Read More
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Read Time: 5 mins
Don’t worry about your competition. Pretty unusual advice to receive for any business owner. To be sure, we need to know some things about our competitors like:
• Who they are
• What products they sell
• Their pricing strategy i.e. cheap or expensive
• Their reputation i.e. after sales service, timeliness, etc.
But this just makes good business sense.… Read More
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Most successful entrepreneurs that I’ve met have a balanced approach to empathy, deep when required and non-existent when really necessary. On the other hand, I witness owners that aren’t so balanced.
Those that have too much empathy, frequently worry way too much how a given decision or request will be accepted by their employees and regularly succumb to the slightest resistance.… Read More