Small business owners need to digitize now: BDC

Businesses with higher digital maturity are 62% more likely to have high sales growth than others, says report

Small business owners need to digitize now: BDCThe Business Development Bank of Canada has launched BDC Small Business Week this week with a simple theme – Digitize now: Transform your business. “In today's connected, automated and data-driven world, it's vital for Canadian businesses to embrace new technologies to keep up with the competition,” said Pierre Cléroux, vice-president of research and chief economist…

Canadian businesses invest $14B in cyber security prevention

In 2017, 21% of Canadian businesses reported they were impacted by a cyber security incident: StatsCan

Canadian businesses invest $14B in cyber security preventionCanadian businesses reported spending $14 billion to prevent, detect and recover from cyber security incidents in 2017, which represented less than one per cent of their total revenues, according to Statistics Canada. The federal agency reported on Monday that about $8 billion was spent on salaries for employees, consultants and contractors who worked on cyber…

Why the shotgun marketing approach is failing your business

How to come up with strategies that entice your ideal customer to reach out to your business

Why the shotgun marketing approach is failing your business“Our ideal customer is anybody who’s breathing,” was the response to my question of who this businessman’s ideal customer was. “Really?” I said. “Are you serious?” Unfortunately, his reply was “Yes.” That affirmative answer was probably the reason this business owner was turning to me for help with his company. Many businesses are only marginally…

E-commerce untapped potential for Canadian small businesses

PayPal report points to significant growth of online businesses, while offline enterprises stall

E-commerce untapped potential for Canadian small businessesCanadian small- and medium-sized businesses leveraging e-commerce are growing significantly faster than their offline counterparts, according to a report released on Thursday by PayPal. The report said small businesses that sell online through PayPal grew 22 per cent year over year in 2017, in sharp contrast to offline small businesses, which saw less than one…

Haskayne School of Business launching program to help jump-start careers

Program targeted to recent non-business graduates with no more than two years of work experience

Haskayne School of Business launching program to help jump-start careersThe Haskayne School of Business at the University of Calgary is launching a management program to help non-business graduates jump-start their careers. The Haskayne Master of Management provides an immersive 10-month experience in solving business problems with students gaining knowledge in accounting, finance, human resources, marketing, operations, strategy and entrepreneurship along the way. The school said…

Why you need a psychologist in the boardroom

It's time boards gave serious and strategic consideration to how they can accelerate and maximize their effectiveness

Why you need a psychologist in the boardroomI'm preparing to facilitate a board strategy retreat and the project has sparked thoughts about bringing a psychologist into the boardroom. “Let me be clear, I don’t do strategic planning,” I stressed when I got the call. The chair assured me they weren't looking for a strategic planning expert. They wanted someone who is really good…

How to use the ‘Rule of 3’ to make better hiring decisions

Striving for three final candidates allows hiring committees to keep an open mind, test for fit and plan for imperfection

How to use the ‘Rule of 3’ to make better hiring decisionsIn The Secrets of Great CEO Selection, Ram Charan advises hiring committees to keep an open mind, test for fit and plan for imperfection. One of the organizations I'm involved with just concluded a chief executive officer selection process so this topic is fresh in my mind. A key lesson I learned is how important it…

How running a business is like getting married

Big weddings don't happen without planning and attention to detail. Successful businesses require the same focus, plus strategic plans

How running a business is like getting marriedI’m told that a lot of planning goes in to weddings. Twenty years ago, when I got married, I don’t remember there being so much planning. Yes, I had to go here and there and look at stuff. But as far as I was concerned, I was planning to show up on the day and…

Middle managers key to driving employee engagement

But only one-third of middle managers are highly engaged and that trickles down, says the Conference Board of Canada

Middle managers key to driving employee engagementA new report by the Conference Board of Canada says Canadian companies should focus on middle managers to drive employee engagement. The report, Employee Engagement: Driving Engagement From the Middle, was released on Tuesday. It says that as middle manager engagement scores improve, so do the scores of their employees. In fact, employees who work…

Women-owned enterprises take on increased role in Canada

The number of women-owned enterprises and the employment in these enterprises increased faster than men-owned enterprises

Women-owned enterprises take on increased role in CanadaA new Statistics Canada study says there were 275,300 women-owned enterprises on average each year from 2005 to 2013 throughout the country, employing 828,700 workers. The federal agency reported on Monday in its Women-owned Enterprises in Canada study that women-owned enterprises accounted for 18 per cent of all private enterprises and 15 per cent of…

Your guide to unsticking your team’s potential

How to deal with three team-member dysfunctions that can get in the way of team effectiveness

Your guide to unsticking your team’s potentialThe 'team' is probably the most complex and irritating relationship in an organization. As individuals, we seem to be able to work with most people one-on-one, perhaps in groups of threes, and also as an entity of hundreds and even thousands. Where we struggle most is when there is a medium-sized group of us clustered…

Do you have the grit it takes to be successful?

Linda Kaplan Thaler and Robin Koval reveal that the secret to success lies in showing grit

Do you have the grit it takes to be successful?Louis Pasteur, the French chemist and microbiologist renowned for his discoveries of the principles of vaccination, microbial fermentation and pasteurization, once said, “Let me tell you the secret that has led to achieving my goals: My strength lies solely in my tenacity.” Pasteur would have approved of Grit to Great by Linda Kaplan Thaler and Robin…

Does reading financial statements scare you?

Knowing how to read your monthly report card is essential for keeping your business profitable

Does reading financial statements scare you?My brothers and I would sometimes get into trouble, both at school and at home. Though we generally had good grades, my mother would always make a point of reading our report cards as soon as we brought them home. Walking home from school on that warm day in June, when I was in Grade…

Deliver Canada Post from its old-fashioned business model

To maximize the value, viability and utility of the post office, it should be permitted free rein. That may mean selling it

Deliver Canada Post from its old-fashioned business modelOne new CEO opening will top most stress-filled leadership positions: Canada’s chief mail delivery officer. There are many iconic symbols of Canada but – if it ever was one – Canada Post certainly has long ceded that status. The Crown corporation predates Confederation but hasn’t endeared itself to anybody for generations. Although the Canada Post…

RV-rent entrepreneurs persevered until business was rolling

It took Chad and Cherie Ball of Wheel Estate years to get their business on the road, but they refused to abandon their dreams

RV-rent entrepreneurs persevered until business was rollingChad and Cherie Ball are owners of Wheel Estate. Calgary’s Business: What is Wheel Estate and how did the company come into being? Chad and Cherie: Wheel Estate is a peer-to-peer RV trailer sharing marketplace. We efficiently connect people who would like to rent a travel trailer with owners whose trailer would otherwise go unused, backing…
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