Let's show our small businesses some love. They deserve it. As I've said here before, Canada’s small business owners take the risks and provide the imagination, the capital and the energy that drives the economy, jobs and wealth in Canada.
A small business partnership is like a marriage - you need to choose your partners wisely. That is some smart advice. Especially in business, many do not.
With all that we try to fit into every day, setting aside the time for the truly important and meaningful activities can be/is difficult. Planning and good intentions go by the wayside. Yet not preparing for the sale of our business could cost us the very lifestyle we have worked so hard to build. Isn't it time you start thinking about the life you want when you leave your business?
Grant Mellow, ActionCOACH, in action at Sunbelt's Ottawa office. A business owner must be able to seek out and take advice and keep learning. Most of us have access to many networking and training options, both in person and online.
Many small business owners love what they are doing. It’s the fuel that powers them through long days and adversity. It’s why three out of 10 in Canada opened up shop. But it’s also the kicker that can make it so hard to leave—a milestone that some seven out of 10 of us will be approaching this decade.
Are you expecting to die with your boots on? Or do you intend to kick off your shoes and seek other surroundings, near or far? Some eight per cent of us who own small businesses in Canada do not plan to retire at all.
How many miles have you put in on your business journey? Are you still enjoying the ride? Maybe you’ve started thinking about passing the wheel and your business to someone else. Will you have enough money for what you want to do next? If not, what will it take as a business owner to get you there?
What about owning a small business that only operates at certain times of the year—say a tour boat line in Canada? I saw an article recently about owning a seasonal franchise and it prompted me to put together my own list of pros and cons to owning a seasonal business that buyers should be aware of.
Jumping into a pool isn't top of mind for most of us as we hunker down to face our Canadian winter. But that's one of the things my team and I were thinking about earlier this week as we learned about the traits and preferences of the four DISC personality types. Our training leader (Grant Mellow of ActionCOACH) used the pool analogy to help us grasp the differences between each so we could recognize them and adapt.
