Financial Intelligence…It Doesn’t Have to Be Painful!

How many of you look forward to talking about numbers (really)?

The truth is that most entrepreneurs only have a very rudimentary understanding of finance. The problem is that having little or no skill in gathering, organizing or interpreting your company’s finances can lead to less-than-perfect, and sometime disastrous, decision making.

That’s why Robert — a longtime believer in helping entrepreneurs gain financial intelligence — and I are constantly looking for tools and resources that breathe life into the “numbers side” of your business.

And, that’s why we’re so happy to have identified “Financial Intelligence for Entrepreneurs“. In BusinessCast #98, Financial Intelligence, we interview co-author Joe Knight. He shares some nuggets but, perhaps more importantly he demonstrates his commitment to developing a truly practical resource.

What impressed me — and, I’m not a “numbers person” — is how well this book is written. It’s clear, concise and really, well…very human! Meaning, it doesn’t feel anything like a finance or accounting text book that speaks down to you. Nor is it so dry that you’re just aching to get to the end of the next paragraph.

The authors quite successfully convey fundamental and complex ideas in a way that you’d wish your CFO could! If you’re running a business and you’re the least bit uncomfortable with business numbers, read this book….and read it, now.

BTW, we have several free copies of Financial Intelligence for Entrepreneurs so, read an excerpt and then send Robert an email (robert@businesscast.ca) and we’ll send you a free copy. You’ll be glad you did!

Other resources to help you tackle your finances include:

BusinessCast Podcast #69 – Business Success By the Numbers — to help you get straight-forward answers to these common numbers-focused questions:

1. Should you buy or lease your car?
2. Should you invest available cash in your mortgage or an RRSP (IRA)?
3. Who should you sell your business to?

Also, find below some focused resources to help you work through these questions and get you more comfortable dealing with financial issues critical to your business –

A Lease or Buy Your Car Calculator

A Contribute to Your Mortgage or RRSP Calculator

A Video on Finances for Business Leaders (Note: The video providers will prompt you to register before you will be able to view this video.)

BTW, if you have a ‘numbers’ question, let us know. We’ll address it in an upcoming show.

Don’t forget to enter the contest to win a Blackberry Bold!

Remember: Subscribe to the BusinessCast Podcast at iTunes

Franchise Comes Alive

At the BusinessCast podcast, we bring practical, real-life business lessons from entrepreneurs to other entrepreneurs — so that everyone can be more successful.

And, its because of this commitment to the entrepreneur community that Robert and I were invited to be official members of the Media  for the Canadian Franchise Association’s Franchise Show.

It was truly evident by the tremendous turnout and enthusiasm at the show that entrepreneurs of all ages and experiences do indeed recognize that the franchise business model is a viable and highly desirable option in this soft economy. Why? Because: the franchise model saves time and expense that every entrepreneur spends on creating and honing a system that is profitable.

In BusinessCast podcast episode 97 – Franchising for Entrepreneurs – Live! among the most compelling franchisors we spoke to were:

Aarons Rents — This relatively unknown brand of rent-to-own furnishings and equipment in Canada is poised for explosive growth. In fact, it’s one of those businesses that will flourish in soft economies. They’ve had some Canadian franchisees reaching break-even points in record time! Doug Warren, Director of Franchising, tells us of some inspiring successes!

Fast Signs — A business-to-business franchise, this franchise is a salesperson’s dream. If you’re a natural people-person and enjoy networking, selling and building a strong presence in a community (c’mon let’s face it there are a lot of you out there), then listen carefully to our discussions with Brian Wieters, Director of Franchising.

Cobs Bread — A new and fast-growing franchise, this business is perfect for you if you want to build and/or apply your skills in managing people as well as rolling-up your sleeves! John Gilson, Director of Franchising gives us a peek.

We spoke to franchisors, franchisees as well as those looking to get a better understanding of how this model could work for them. The CFA had some great resources — including free seminars and ‘Ask the Expert’ sessions. Even if you’re not sure how franchising may fit into your professional career, check other CFA events! You’ll learn some useful business nuggets just by chatting with other successful entrepreneurs just like you!

Don’t forget to enter the contest to win a Blackberry Bold!

Remember: Subscribe to the BusinessCast Podcast at iTunes

Email Marketing Bootcamp – Part 2

Email Marketing…the Right Way!

In BusinessCast podcast episode #93 Email Marketing for Entrepreneurs – Bootcamp Part 1 our guest Matthew Vernhout, email guru and voice behind the authority EmailKarma.net spelled out how entrepreneurs — of all sizes and across industries — can develop email marketing campaigns that truly work. In Email Marketing for Entrepreneurs – Bootcamp Part 1 Matthew addressed:

• The key players involved in email marketing campaigns
• How to establish relevant and measurable goals
• How to build and grow your database of email subscribers

Now in Email Marketing for Entrepreneurs – Bootcamp Part 2, Matthew addresses the final stages of any profitable and effective email marketing campaign:

• Ensuring that email actually arrives after you send it
• Getting your emails opened
• Ensuring your email is acted upon
• Measuring success and improving follow up campaigns

This bootcamp series is an absolute must for any entrepreneur wondering when/how to leap into or optimize their email marketing.

BTW, have you listened to BusinessCast episode #94 — Franchising for Entrepreneurs? Robert and I chatted with Lorraine McLachlan, President and CEO of the Canadian Franchise Association (www.cfa.ca). Lorraine shares an insight into this effective and potentially recession-proof business model.

Be sure to join us at the CFA’s Canadian Franchise Show on February 21 and 22. We’ll be at the show gathering compelling stories, lessons and insights for you from franchisors and franchisees.

Don’t forget to enter the contest to win a Blackberry Bold!

Remember: Subscribe to the BusinessCast Podcast at iTunes

Franchising: A Business Model for the Times

A few weeks ago — in BusinessCast Podcast #94 – Franchising for Entrepreneurs, Robert and I had a lively discussion with Lorraine McLachlan, President and CEO of the Canadian Franchise Association (www.cfa). We wanted to get a clear sense of the role that franchising can play for current and future entrepreneurs. And, Lorraine provided us some keen insights and plenty of enthusiasm!

To help you decide if/how you can leverage this powerful business model, the CFA undertakes some powerful research. And, recently, they released some news on the latest franchising trends . Given the current state of the economy, it turns out that this may be the best time in years to explore franchises — whether you’re a potential franchisee or franchisor.

Robert and I will be at the Franchise Show on February 21st and we’ll bring you the real scoop from franchisors, franchisees and other entrepreneurs just like you who are wondering how to tap into the wealth of franchising experience, this tried-and-true model and the CFA.

Don’t forget to enter the contest to win a Blackberry Bold!

Remember: Subscribe to the BusinessCast Podcast at iTunes

Connecting for Business Success

Today, it’s hard to find real business “truths” because everything that impacts your business changes so quickly — for example: the new technologies you need for your operations, dramatic swings in customer demand, new competitors entering your market, the rising cost of production and sales, the challenges in securing investment resources, evolving employee expectations etc.

But, one truth is constant: your business will only succeed if you are connected to the right people at the right time.

Finding, nurturing and leveraging the right business connections is exactly what Donna Messer, President, ConnectUs Communications Canada — guest for BusinessCast #95, Connecting for Business Success — does day-in and day-out.  Just like every entrepreneur, she has a network of suppliers, customers, advisors, colleagues, media… and the list goes on and on. But, unlike most entrepreneurs, Donna has honed a process for efficiently connecting them with each other so that participants find value in the connection and in the initiator of that connection, Donna. The result: Donna has become an important influencer in dozens of different industries.

Listen to BusinessCast #95, Connecting for Business Success and you’ll find some practical nuggets of wisdom that will help build your connecting skills/opportunities — and therefore ensure your business’ succeess.

If you want to read about how entrepreneurs just like you tackled some of the other most common business problems, check out Your Business Success Stories.

Don’t forget to enter the contest to win a Blackberry Bold!

Remember: Subscribe to the BusinessCast Podcast at iTunes

Win a Blackberry Bold — Contest for Entrepreneurs

****Update June 8, 2009:  The “Entrepreneur Be Bold” Contest has a winner: the intrepid entrepreneur “Soccer Girl”. Listen to the brief BusinessCast Podcast episode #109b where we announce the exciting news.****

A few months ago, we were fortunate enough to interview Michael Younder, Senior Product Manager at Research in Motion for two episodes of the BusinessCast — episode 75 where Michael discussed mobile marketing trends and episode 83 where he talked about Blackberry hardware and business applications for entrepreneurs.

Since then, Research in Motion has generously provided us with a Blackberry Bold!

So, we’re running a very simple CONTEST that should appeal to every entrepreneur.

Here are the rules:

1) Tell us in 100 words or less how your business would benefit from a Blackberry Bold smartphone.

2) Send this description/story to us via email to Robert@BennettGold.ca.

3) A winner will be chosen based on how compelling their reason for needing a Blackberry Bold smartphone. Winners can also choose to be highlighted in an upcoming episode of the BusinessCast podcast where over 30,000 listeners will hear about your business per month!

4) Finally, the contest is open to any business owner/manager — regardless of industry, geographic region (i.e. Country/State/Province), age, size or revenues.

You should know that we will contact the winner before announcing it on this blog or in the BusinessCast podcast. Furthermore, we will not share your email address with anyone.

Good luck!!