Business by Inspiration – Part One

Every successful entrepreneur eats, breathes and sleeps their business. But, what keeps entrepreneurs constantly growing and striving for greatness? It’s rarely as simple as a desire for money or notoriety. Rather, it’s usually some intangible and perpetual pool of inspiration. When that source of inspiration is coupled with the ability to harness core business disciplines the outcome is, well…inspirational!

When we sat down with Jennifer Beale, public relations and networking professional, for BusinessCast episode #116 we clearly saw the outcome of her inspiration. At the same, her success reveals someĀ  important business lessons that will truly inspire and direct every entrepreneur.

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Business Succession — Making the Most of the Opportunity

All entrepreneurs, at one time or another, must contend with business succession. For example:

  • Are you buying a business from someone?
  • Are you planning to sell your own business?
  • Are you taking a back seat/different role in the business you’ve built?
  • Have you taken over the helm of a business for an aging/exiting family member?

Regardless of the circumstances, you’re going to face succession issues and challenges. And the way, you deal with these issues will have a tremendous impact on you, your friends, your family and your business.

That’s why in BusinessCast Podast #110 Robert and I sat down with succession-management guru John Geddes who recently authored one of Canada’s business top sellers Succession and the Family Business: A Road Full of Potholes or Paved With Gold“. The old school of thought for succession had been “get the legal and accounting issues dealt with and everything would be fine.” But, John’s worked with enough entrepreneurs to know that the interpersonal challenges unique to family businesses must be dealt with properly to ensure a successful and smooth succession. And, that rule applies whether you’re an entrepreneur taking over a family business or an entrepreneur making plans to leave a family business to take on other opportunities.

But, John’s wisdom is universal. His insights about the emotional dynamics that play out in family businesses during succession can help any entrepreneur who serves or sells to family businesses going through difficult transitions.

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Success Guaranteed: Mentor…Always

Every successful entrepreneur is a life-time learner. And, its easy to understand why: learning new ideas means being better equipped to anticipate and leverage any challengeĀ that your business is going to face. So, one of the surest ways to ensure your success is to build learning into your company’s way of operating.

Mentoring can help you achieve that on-going learning because it compels you/your company to constantly re-examine your business and evolve. The folks at BNET have developed a very good primer to help you in the early stages of pulling together a mentoring program.

Also, keep a look-out later this Fall as Robert and I will devote an episode of the BusinessCast podcast to help you determine:

  • When you should begin your mentoring program
  • How to keep a mentoring program on track and;
  • How to repair mentoring programs.

Remember: Subscribe to the BusinessCast Podcast at iTunes