When it comes to growing a business, most people look to bringing in new clients, landing a major contract, or getting a new sale. What about your focus on existing customers? Your existing customers are your most probable (and most times the most profitable) source...

It’s helpful for any business owner to have someone they can turn to for business advice. In my experience, I’ve found that discussing your business issues with a person, or in a group of like-minded individuals, is particularly helpful when overcoming business...

Good communication is essential in all areas of life, but especially in the workplace. Disconnected, uninformed employees can have a detrimental effect on your business and bottom line. Implementing effective communication skills, tools, and strategies in the office...

The term “company culture” gets tossed around a lot lately, and it’s true that a strong corporate culture can make a big difference in boosting employee recruitment and retention. But, increasingly, men and women who put in eight hours or more a day in the workplace...

Well before the onset of COVID-19, buying trends among consumers were already tilting towards a huge increase in digital shopping. Now, with all of us practicing some form of social distancing, digital commerce is more prevalent than ever before. With that boom, of...

As the CEO or business owner, your job is crucial in setting the tone for your company culture. These five pitfalls can lead to discontent, high employee turnover and a negative culture. Your role as CEO or business owner goes beyond planning for the future and...

Project Management in a nutshell Broadly speaking, Project Management involves assigning a team dedicated to achieving certain goals in alignment with specific success criteria within a specified time frame. While we will examine various project management...

Coaching differs greatly from therapy. That’s according to a Harvard Business Review survey which makes the distinction that coaching focuses on the future, whereas therapy focuses on the past. The majority of the survey’s respondents maintained that coaching clients...

One of the most difficult things a leader will have to deal with in the workplace is the death of an employee. Whether the result of ongoing health complications or a tragic accident, a death in the company requires nuanced, careful handling. In recent times, I have...

A company’s strategic plan is only as effective as the process that goes into creating it. If the approach is too rigid, hierarchical, or only serves as an empty exercise, it’s unlikely the business will in any way benefit from the process. If on the other hand, a...

There are many compelling reasons for incorporating a volunteer element in your company culture. For one thing, marshaling the power of your workforce for the good of the community is always a positive measure to take. Also, being an active participant in local...

The Chocolate Wars is a fascinating story about the history of the chocolate industry; written by Deborah Cadbury. Of course, Mrs. Cadbury's family business was featured in the story; Nestle, Hershey, Mars, and many other companies were are also detailed. This history...

I recently came across a thought-provoking essay by Jennifer Brandel and Mara Zepeda, titled “Zebras Fix What Unicorns Break.” In it, Brandel and Zepeda take a deep look at what our society has come to value in a business venture — values that are strongly shaped by...

Several friends have sent me a picture of an EBITDAC coffee mug this week. As it states, EBITDAC stands for Earnings Before Interest, Taxes, Depreciation, Amortisation, and Coronavirus. Will this be the new measure of cash flow for valuing your business? A bleak joke,...

In today's experience economy, businesses need to think of new ways to connect with customers and secure their loyalty. Customers expect not just products and services anymore; they expect elevated, high-quality experiences. They are willing to pay more for better...

The coronavirus epidemic has altered (perhaps permanently) many facets of life around the world. The business landscape, for one, is considerably different than what we remember from even one year ago. And within this category, changes to customer behaviour are...

CEOs and business owners often have a pretty good grasp of what it takes to market their business. On the other hand, marketing conditions and opportunities are forever changing, and it never hurts to acquire some additional knowledge. Here’s a brief look at 10...

The Alternative Board was founded on the notion that business owners can’t go it alone. No one likes asking for help, but when it comes to running a business, it’s impossible to succeed without enlisting the wisdom of others. Sure, you got this far, because you have a...

Working with a remote workforce requires different management and leadership. During the current Coronavirus pandemic, many members of your team will be experiencing mixed emotions from anxiety to worry. Some will be highly distracted with their thoughts and concerns,...

What do you normally do when contemplating a major purchase? Like most people, you probably make an effort to see and hear what others have to say about the company you plan to buy from, as well as the quality and benefits of the products or services sold. In other...

It's hard to believe that 2020 is shortly coming to an end. For most of us, that may come as a relief, but the road to recovery is just beginning. Amidst the many different social and economic challenges 2020 brought, this year has truly been one of the toughest in...

Whether your business has been positively or negatively affected by the impact of the pandemic, it has been impacted, and your business is not the same as it was in early March. Hopefully, during the last six months, you’ve taken some time to create a contingency plan...

Businesses with expert sales teams sometimes find themselves on a mystifying string of bad luck. Their sales professionals identify and qualify promising leads, even have a series of discussions with these prospects—only to end up with nothing to show for it. One...

If there’s one constant in running a business, it’s negotiation. Whether it’s negotiating a contract, salary, or executive decision, your ability to persuade can (and will!) determine your effectiveness as a leader. While there are countless ways to approach a...

If you have any doubts about the importance of customer service, just think back to a personal purchase you made recently. If things went well, you came away satisfied with the transactional experience and open to the idea of doing business with that company in the...

In spite of all the changes rocking the business landscape, experts agree that email marketing remains a consistently effective way of reaching customers. In part, this is because companies can incorporate wording that speaks to improving the lives of the target...

In the past 30 plus years I’ve spoken to many business owners who have encountered cash flow issues over the course of running their businesses. The proper management of your cash flow can help you prepare for seasonal business lulls, plan for future financing, and...