Business Crisis? What Crisis?

No-one likes a crisis. That’s why it’s far too common for even the most successful entrepreneur to overlook crisis planning. The challenge is that once you’re in the middle of a true business crisis, you rarely have the time or the resources to deal with it as well as you would want to.

After all, you could find yourself thrown into a very tense situation — trying desperately to deal with members of the media, angry clients, disenchanted employees, wary investors, intrusive regulators and other critical stakeholders.

It’s an emotional time and all it takes is saying ONE wrong word and your business can suffer. That’s why in BusinessCast episode #123, Robert and I “pick the brains” of one of the Nation’s leaders on crisis communications. Dr. Allan Bonner and his team have advised Canada’s most senior business leaders, political figures and sports figures to successfully avoid a crisis, deal with a crisis and turn around a crisis to their advantage.

Listen to BusinessCast episode #123 and get some practical insights on how you can make sure that you’re prepared when a crisis hits your business.

Remember: Subscribe to the BusinessCast Podcast at iTunes

Looking after Your Wealth

We’ve all seen businesses rise and fall. But, why do some businesses implode while others flourish? We’re fascinated to find the different answers to this question which has perplexed entrepreneurs since the onset of commerce. That’s why Robert and I are constantly exploring the critical components and conditions that make entrepreneurs and their businesses succeed.

It turns out that one of the fundamentals to determining success or failure hinges on an often unspoken assumption: entrepreneurs equate business success with their wealth. But, what happens when that isn’t the case? What happens when an entrepreneur’s long-term wealth is hampered by their very own life’s work (i.e. their business)?

In BusinessCast #117 — Family. Business. And, Wealth – Robert and I explore how entrepreneurs can ensure long-term wealth by sitting down with Thomas Deans, author of the widely-acclaimed book: Every Family’s Business. Thomas takes a truly practical — and sometimes controversial — approach to ensure that entrepreneurs can build and sustain the wealth they’ve worked so hard to build…even if that means drastically changing their relationship with the business that’s been in their family for generations. While that might sound sacreligious to many, his disciplined approach and rationale is a wake-up call to every entrepreneur.

Whether you’re managing a family business, selling a family business, investing in a family business or purchasing a family business, you’ll want to listen to Thomas’ insights in this episode of the BusinessCast podcast.

Remember: Subscribe to the BusinessCast Podcast at iTunes

Taking the Risk Out of Your Business

As a successful entrepreneur, you are optimistic and energetic. You have to be in order to tackle all of the challenges facing you day-in and day-out. But, are you a realistic entrepreneur?

 

Well, one sure way to determine if you are a realistic entrepreneur is by asking yourself a simple question: “Have I identified the most likely risks that I’m going to face in the next few years and planned for them?

 

Well, in BusinessCast Podcast #82 – Risky Business, Robert and I sit down for a frank discussion (as always) — this time with John Klotz President of NorthWood Mortgage Life Insurance. The three of us share a few stories and provide some straight-forward advice to help entrepreneurs like you address common risks so that you can continue to operate and grow your business.

 

And, to help you better plan for business risks, here are some very popular resources ideal for all entrepreneurs – regardless of the size, age or industry of your company:

 

How to improve your cash flow

 

Answers to entrepreneur’s most common financial questions

 

Free entrepreneur resources

 

Remember: Subscribe to the BusinessCast Podcast at iTunes

Fine Tuning Your Business – Part 1

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Who’s got time to develop a business plan?!? 

 

If you’re like most entrepreneurs, you can certainly support the idea…but, when push comes to shove, you’re focusing on the day-to-day activities more than planning where your business should be going.

 

When we tackle the need for Fine Tuning Your Business – show #58 we are sensitive to that reality. At the same time, we know there are so many conventional resources available for developing business plans that it is often very hard to get excited about pulling a plan together – one that you’ll want to update during critical stages of your business such as expansions, increased competitiveness and/or calamities.

 

Rather than suggesting you adopt a traditional business plan, we recommend you create a “Passion Plan” - a plan that tells the inspiring and unique story about your business – within a business plan structure.

 

Why? Because, only plans that effectively capture your energy and enthusiasm will really take root in the hearts and minds of those who have to live the plan each and everyday – i.e. your employees, your investors and of course…you!

 

Listen to Fine Tuning Your Business – show #58 and you’ll get other real-life practical suggestions that will help your business plan – and therefore your business – achieve new heights!

 

Remember: Subscribe to the BusinessCast Podcast at iTunes

 

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