Storytelling for Business

Storytelling is a very effective way to make a point with your customers, clients, and employees.

Stories are the result of experiences. They usually have a setting and characters and they often have a theme. Generally speaking people react strongest to stories they can identify with. They see themselves as part of the story. Stories are in fact how we learn best and retain that learning most effectively. Stories let us convey wisdom and explain concepts in an entertaining way. The best stories motivate and lead people to a "call to action".

When telling your business story, begin with the end in mind. What is the purpose of telling this particular story? Start with a character that your audience can relate to. Make sure your story has a point and is useful to your audience. Consider the "call to action" as you build your story. Be aware of who your audience is and how they will relate to your story.

An example: a Spa Owner may wish to tell a story of how regular massage therapy has eliminated the need to take pharmaceutical pain killers for one of their clients who has a back injury. Another example: the owner of a Service for Seniors business may want to tell a story of how their services allow clients to stay in their own home thus saving them alot of money and the emotional distress of moving. You get the idea.

The more real and relatable your story; the more impact it will have in the telling.

Remember that a story by e-mail is different than a story in your blog which is different than a story you tell face to face. Tailor your story to suit the audience and the medium your using to convey it!

Financing A Business Idea

There still seems to be a good deal of mythe about the availability of money for a business idea. No matter how wonderful you think your idea might be, there is no pot of gold sitting there waiting for you to come and collect. Grants are not all that common, they come with strings attached and they usually require a fair bit of work to get. Loans also require a fair bit of work. Anyone who has money to lend will want to see that you have thought your idea through thoroughly. That usually means writing a Business Plan. They will also want to see that you are willing to assume some (if not most) of the risk yourself.

Whether it's a bank or a private lender, chances are they will be thinking about the same criteria while you're busy pitching your idea to them. It goes something like this:

1) How quickly can I expect to be repaid?

2) Is the managment team competent? Do they have advisors/mentors/coaches?

3) Have the owners invested in this business themselves? If so, how much?

4) What can I expect to recover if this idea fails?

Be prepared to answer the hard questions if you expect someone else to give their money and be prepared to let them stick their nose in your business.







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Business Success Program

There is an air of excitement at the Business Advisory Centre today as we finalize preparations for the launch of the Business Success Program scheduled to take place at Victoria Hall on Monday, November 29th.

More 100 people are planning to attend and hear first hand the details about a program like none other in the province of Ontario. A true example of business helping business.

We can't wait to host and we hope to see you there!


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Not Enough Hours in Your Day?

Scheduling your priorities into your planner helps. Discipline to focus and stay on task helps. However, I think getting a handle on what you're really doing with your time may be the best starting point. Kind of like keeping a food diary to study your eating habits. This would be a time diary to track what's eating your time.

Yes, I'm suggesting that you write down everything that you do and how long it takes you to do it. Keep your diary for a week. Don't judge anything at this point. You're trying to capture everything that you normally do so you can analyze it honestly later.

At the end of the week, take a look at what you've been doing and then start to categorize your activities. Some activities will immediately reveal themselves as being big timewasters. My suggestion is that you create a few categories for these....

Delete - any activity that doesn't contribute to the big picture. Stop doing it!

Deminish - streamline your routines (ex: check emails twice daily not as they arrive).

Delegate - does it have to be done by you or does it simply have to be done?

Delay - can it wait until later (stop giving your attention to stuff that can wait).



Hint: revenue generating activity is the most important task of any business!

Happy Streamlining!

What Makes Your Business Remarkable?

Ideas spread when people choose to tell other people.



Why would I want to tell others about you?

because.......

- I feel smart alerting others to what I've discovered

- I want you to succeed

- I will benefit financially by telling other about you

- your service works better if more of my friends use it

- your idea will make people happier and healthier

- you asked me too and you're hard to refuse

- I like sharing fun and your idea is alot of fun

- I'm in awe of your idea and the only way to repay you is to share with others



I'm sure you can think of other reasons.

You need to make your idea Remarkable if you want others to remark about it.

How Well Do You Know Your Customers?

Can you name your top 5 customers? (top 10?)

Can you identify the challenges they face?

Do you know what else is on their plate?

Do you know what they say about you?

How often do you ASK your cusomters for feedback?

In our buinsesses, we can often identify our top selling products and spout details about the latest innovations but do we really know what's driving it all. Getting curious about your customer is essential.

I recently read a statisitc that said owners of million dollar companies understand financial numbers really well but owners of multi-million dollar companies understand their customers really well.

HST - Small Business Transition Support

Are you wondering whether or not your buisness is eligible for support as a result of changes required to implement the HST? Visit www.rev.gov.on.ce/en/taxtips/hst/07.html to find out more information.

Surveying Your Market

When was the last time you took a close look at your customer profile?
Have you ever conducted a survey to find out why people shop with you?

If you want to improve and grow your business, you need to seek & hear honest feedback from potential customers that currently shop with your competitors as well as your existing customer base.

There are two types of surveys that you can use to accomplish this:

1) The Quantiative Survey will ask clear questions with specific choices (often mutiple choice). The order of the questions usually runs from the very general to the very specific without leading the participant.

2) That Qualitative Survey will ask probing questions that explore without leading. There is often an interest in bringing in all voices and the results are usually supported by quotes. Focus groups work well when this is the type of information you're looking for.

A well designed survey is the key to getting reliable marketing information that answers the questions you need answered. Spending time assessing the value of the questions will ensure the usefulness of the answers and ultimately the effort. Test it on your friends, family and network first.

Webinars for FREE

Are you a self directed learner? Would you like to expand your business skills?

I just learned about this website last week; took one of their webinars and suggest to anyone interested that it's a good investment of your time......check it out http://www.bizlaunch.ca/

Ontario Chamber of Commerce wants to Cut"Red Tape"

The government has committed to reducing "red tape" for small business in the Province of Ontario but requires clear input from business owners in order to accomplish that effectively. Right now most businesses across the province continue to be negatively impacted by obstructive government regulations. The Ontario Chamber of Commerce (OCC) wishes to open up this discussion and in an effort to involve as many businesses as possible the OCC is asking that you visit the link below and respond before the deadline at 5pm on Friday,Sept 3rd.

https://fd8.formdesk.com/ontariochamberofcommerce/red-tape-survey

You Get the Behaviour You Reward

What does your Marketing Plan encourage from your customers?


Do you make it easy and rewarding for them to tell their friends about you?

Is there anything in it for the loyal shopper?

Do they get perks when they make large purchases?

Have you taken the time to figure out what they value most about your company?

What kind of behaviour are you rewarding?

Back to Basics

1 - Set a Goal
Decide where you want to take your business. You can't hit the bullseye if there's no target. Make your goals S.M.A.R.T. (Specific, Measurable, Achieveable, Realistic and Time-linked). Focus on 2 or 3 key objectives for maximum success.

2 - Map out a Plan
Ink it, don't just think it. Successful business owners construct a written plan to guide them and they surround themselves with the right advisory team. The biggest strength of small business owners may be the ability to identify their own weaknesses and find mentors to help fill the gap.

3 - Research the Situation
Know as much as possible about your potential customer, the competition and trends that may impact your business. Keep your eye on the ball, your ear to the ground and your finger on the pulse. Time and energy spent here will likely pay you back exponentially.

4 - Market Your Business
Now you can move things forward. Deciding how to carry out your plan will be much easier if you've done the homework. Reaching your market effectively requires knowledge of your customer and the competition, advice from experts and focus on the goal. Doing the research will enable you to develop a marketing strategy and save you money as you it carry out.

5 - Manage Cashflow
Track the numbers. Know where the money is going to and where it's coming from. Compare your actual income to your projected income as you move towards your goal. Remember that income and cash-on-hand aren't the same thing. Tracking allows you to adjust your sails before you get way off course.

6 - Take Training Courses
Continue to learn, grow and change. Anything that's not changing is not likely alive. Sometimes the best investment you can make in your business is an investment in yourself.

New Government Website ~ One Source for HST Information

Find seminars and all HST notices, publications and information at www.ontario.ca/taxchange

Harmonized Sales Tax Notices

On July 1, 2010 taxation will change in a big way as Ontario adopts a new Harmonized Sales Tax. It will replace the current PST/GST system and will run essentially the same as the current GST. To date the federal government has released 5 official notices that contain pertinent information. Check out the links below:

Notice #1 - www.rev.gov.on.ca/en/notices/hst/01.html

Notice #2 - www.rev.gov.on.ca/en/notices/hst/02.html

Notice #3 - www.rev.gov.on.ca/en/notices/hst/03.html

Notice #4 - www.rev.gov.on.ca/en/notices/hst/04.html

Notice #5 - www.rev.gov.on.ca/en/notices/hst/05.html

There are seminars being offered by the provincial and federal revenue agencies throughout the month of March. Check the calendar on the home page at http://www.bizdevelopment.ca/ for dates, times and locations nearest you.

You can sign up to receive the "email alerts" at the government site where these notices are posted. Simply scroll to the bottom of the page and you'll find the link to sign up on the left.

New Information Hotline for Small Business in Ontario

The Federal and provincial governments have teamed up to offer one central source for small business to dial in for information. This is a collaborative effort between CanadaBusiness and Industry Canada.

View all the details at

www.news.ontario.ca/mgs/en/2010/02/governments-of-canada-and-ontario-support-small-businesses.html


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