Displaying posts published in

January 2011

Question: How do you name your business?

Something many businesses struggle with in their early days is finding a name which identifies them. Sole proprietors may have it easy, since they can name it after themselves. However, as soon as additional people join the business, using your name to identify the business may not be the best idea. However, there are certainly […]

A Good Entrepreneur Knows How to Listen

Doug Burgoyne came on the den this week pitching his business Frogbox, which supplies hard plastic boxes as a rental in place of cardboard boxes. His pitch, coming in with a valuation of $1.2 million, was that the business is profitable (though apparently not yet to a significant level), and is designed to scale. The […]

The Expansion Dilemma

Perhaps this issue is more relevant to those in service-based businesses, though I believe that no matter the nature of your business, this issue will resonate with you. I would be interested in hearing your feedback on this issue – as I believe that it has no right or wrong answers, merely a large set […]

Marketing – Paying Attention to What is Not Said

Working in business consulting, some of my time is spent dealing with the issue of marketing – namely, assisting clients in getting the word about their product or service out to their target market. Sometimes, the issue is reaching the target audience, which is usually fairly simple to solve. Other times, the issue is about […]

Social Media is Not a Strategy, but you need a Social Media Strategy

Trying to trace down the origin of the saying “Social Media is not a strategy” was more difficult than I expected, though I have been able to confirm that it’s been around since at least 2004. Some businesses get this – social media is a tool, just like radio is a tool, and sandwich-board men […]

Question: Where did you find a mentor?

Something advocated by most advisers for business owners, which I’ve promoted here as well many times, is that you find a mentor – someone who can advise you in regard to your specific issues, and help you navigate the world of business from having been in your shoes before. The value of such a person […]

Den Pitches Rise and Fall

There’s something interesting about the show Dragons’ Den that seems to appeal to a certain type of business person. People come on the show with their businesses, hoping to leave the set with a potential investment from one of the five dragons, yet in the average show, only 2 businesses will get lucky. Having watched […]

Effective Marketing Strategy

Recent discussions with one of my clients brought to light a common problem with marketing plans made by businesses without the foresight to consult with marketing companies, or companies involved in aspects of marketing. The client in question was looking for ways to promote their product, and thought of several different methods by which they […]