Why business failures are a good thing

Don't be afraid to fail. The most successful people in life are those who have made big mistakes and learned from them

Why business failures are a good thingMy very first business venture, besides selling lemonade, was selling worms with my brothers – and it was disastrous. Our family lived on a small acreage outside of the city limits. My brothers Rob and Paul were close in age and always looking for new exciting things. I was 13. This particular summer, we needed…

Significant revenue gap between male and female entrepreneurs

Women entrepreneurs using e-commerce tools report earning 75% more revenue than their female peers who don't sell online

Significant revenue gap between male and female entrepreneursA new report released on Wednesday says there is a significant revenue gap between small business owners in Canada who are women and those who are men. The report, by PayPal Canada and Barraza & Associates, said that on average women-owned businesses earn $68,000 less than men who run similar businesses. That's a 58 per…

3 situations when team interventions won’t work

Before jumping head-first into a team building session, ask yourself if it really going to resolve the issue

3 situations when team interventions won’t workLeading a team requires a skill set that is completely different from that of managing direct reports, the people who work directly under you. I have worked for leaders who were great at galvanizing a team but really ineffective one-on-one, and amazing bosses who were terrible team leads. Actually, most of the people I’ve worked…

BDC launches boot camps for women entrepreneurs

Initiative will focus on providing women entrepreneurs the right tools, advice and networking opportunities to tap into their potential

BDC launches boot camps for women entrepreneursThe Business Development Bank of Canada is launching a series of boot camps across the country that will focus on enhancing business skills and financial literacy for women entrepreneurs who have a desire to grow. The BDC announced its initiative on Monday as part of Canada's Women Entrepreneurship Strategy. The one-day WE Talk Business boot…

Banking on intangible assets to build your business

Recognizing and capitalizing intangibles is the key to opening new financing opportunities for SMEs

Banking on intangible assets to build your businessIt’s commonly accepted that banks can’t finance small to medium-sized enterprises (SMEs) these days. Many SMEs lack the traditional collateral grade assets and/or reliable cash flow that banks need to write a commercial loan or extend a working line of credit. Regrettably, lack of bank financing forces many emerging companies to turn to alternative capital…

Mining for hidden human potential: The cost of ignorance

In organisational life we learn "on the job" and it comes with "practice". Well, it's time to change that view

Mining for hidden human potential: The cost of ignoranceLet us ask a few simple questions to help illustrate our point. How many hours of driving school does the average teenager need before they get a licence to take your car onto the road? How many hours of flying time does a pilot need before they are fully licensed to fly an Airbus or…

Greyhound lacked the vision and adaptability to survive

The bus service let complacency rule and its leadership failed to deliver a vision of what could be

Greyhound lacked the vision and adaptability to surviveDear Dave, I think you should write an article about Greyhound bus service. It's no marvel they are going out of business. When I took the bus to Edmonton last year, it was the same bus as the previous time I had ridden one … 30 years previous. The guy who was trying to board…

Building resilience into your personality and your business

When we learn how to deal with the cycle of hope, despair and forgiveness, we're well on our way to success

Building resilience into your personality and your businessA wag once said that the only one who really likes change is a wet baby, yet we face continuous, dramatic and ever-accelerating change in both our personal lives and work lives. What we learned at our grandparents’ knees half a century ago doesn’t fit the 21st century world. When our grandchildren sit on our…

How Facebook failed its users and its shareholders

Corporate reputations are valuable assets that, in the socially-connected world, need serious risk management strategies

How Facebook failed its users and its shareholdersNothing in modern business history illustrates the importance of relational capital – or the vulnerability of corporate reputations generally – as the recent collapse in the Facebook share price. In a single day, Facebook (FB) lost nearly US$120 billion of market capitalization. This represents the biggest one-day fall of a major public company in history.…

Mining for hidden human potential

Prospecting and accurately evaluating potential are critical to long-term success

Mining for hidden human potentialThe mining industry has long known the importance and value of good geology and sound prospecting. It understands how operating performance is inevitably linked to the location of the ore body and the "grade" of the ore being mined. The same thinking, skill and science need to be used by every organisation in order to…

Are your new leaders headed in the right direction?

Launching a leadership career should not resemble a game of pin the tail on the donkey. But too often we fail to provide the support to gain needed skills

Are your new leaders headed in the right direction?I was blindfolded and had been spinning for what seemed like minutes (it was only a few seconds), before being pushed toward the donkey. I was dizzy and had no idea where I was. I wanted to cheat so I could have a chance at winning but the blindfold was too tight. In the end,…

What to do about bad leaders

Your real concern, however, shouldn't be with leaders who are bad but with those who just aren't very good

What to do about bad leadersThe world is full of bad leaders. Luckily for the rest of us, they are pretty easy to spot and tend to have limited impact because they generally do not have much influence or staying power. The real concern should be with leaders who are not bad – they just aren't very good. These are…

Mastering the body language of collaborative leaders

People look for two sets of cues in leaders: one signals warmth and caring, the other power and status. Both are necessary

Mastering the body language of collaborative leadersDuring a break in a seminar I was conducting on collaborative leadership, a man from the audience told this story: “My wife is an attorney and I’ve always been a supporter of women in the workplace. I also believe in collaboration and try to make everyone feel included and appreciated. So I was totally taken…

Culture drives an organization to superior results

Attitudes and beliefs correspond with character, while values and competencies correspond with competence

Culture drives an organization to superior resultsSitting just alongside the attitudes and beliefs of an organization is a companion set of attributes that round out the cultural blueprint. It is represented by: The Values: espoused and held to be important. The Competencies: nurtured to drive performance and build talent. It is a pretty simple formula – so simple that many seem…

We need to start putting a value on intangible assets

The new economy relies on outputs like software, social media networks and apps. But very few of these new intangible value drivers fit into the existing accounting framework

We need to start putting a value on intangible assetsIf you're in business today, you no doubt face a conundrum: the financial statements of your company tell you that certain physical objects are the principal assets of your business but, sadly, that's not what the market or your gut tell you. Business increasingly relies on non-traditional sources of value. For example, most software companies…
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