THOUGHT Leadership
Blogs
What is DEI&B, and Why Does It Matter In The Workplace?
ArticlesA six-year study conducted by McKinsey concluded that ethnically and culturally diverse businesses are up to 36% more profitable than the least diverse ones. When it comes to gender alone, the profitability gap widens to 48%. By not implementing DEI&B in your organization, you are missing out on opportunities to watch your team and individual employees truly shine.
Find Value in the Unknown When Selling Your Business
ArticlesAs human beings we don’t naturally think about things that are unknown to us. We’re much more comfortable fine-tuning what we do well. While the unknown unknowns may be a ‘black hole’ from an owner’s perspective, it is the area where people looking at the business from the outside will be focusing their attention.
Unsure What Employees Need in Today’s Workplace?
ArticlesUnsure What Employees Need in Today’s Workplace? - As business owners, there isn’t much that we can do to avoid events such as a pandemic or a labour shortage. However, we can build an environment within our organization that provides our employees and future employees a sense of belonging and purpose. There are three universal needs that employees are currently seeking in a job — what do they entail?
Three Business Trends To Watch Out For in September
ArticlesFour Business Trends to Watch Out For In the Fall - As we prepare to come back to the workplace after the summer season, it is important to reconsider business trends and consumer behaviors to stay one step ahead of the competition. Here are some trends to keep an eye on this fall to ensure that your company achieves a more successful 2022.
How To Change Your Transition Approach
ArticlesHow to Change your Transition Approach - When entrepreneurs start their business, they generally start by doing things they are good at or things they are passionate about. Over time they develop habits that work for them - and although those habits are valuable practices that have proven to work very well in the early stages of a business, those habits can be the very things that now stand in the way of owners being able to exit the business. So how can you, as a business owner, change your approach?
How are Growth and Scaling Different in Business?
ArticlesHow are Growth and Scaling Different - "When it comes to growth and scaling a business, many may think these both refer to the same thing - a company getting bigger, increasing revenue, and serving more clients. However, growth and scaling are two different aspects of businesses and should be treated as so.”
Seven Tips For How To Scale Your Business For Sale
ArticlesAs with most things you’ve dealt with in building your business, tackling the issue of scalability starts with accepting the fact that you will most likely have to make some changes. And as Einstein said, the biggest change you will need to make is how you think about your business. I call it creating a scalability mindset.
The Importance of Value Drivers for Business Owners
ArticlesValue drivers are business characteristics that drive growth. Regardless of your organization’s industry, it is important to consider these drivers: next-generation management, growth strategy, and customer, suppliers, products, services, and industry diversification.
The Importance of Knowing the Value of your Business in a Business Transition
ArticlesWhen thinking of exiting your business, entrepreneurs must understand the value of their organization. Business valuation can be a complex process but it is an essential part of a business transition. There are a few different approaches that you can take to understand how much your business is worth. The three primary approaches are known as the Income Approach, the Market Approach, and the Asset Approach.
3 Ideas That Will Help You Achieve Your 2022 Business Goals
ArticlesWhether you are thinking about decreasing turnover, bringing in new technology, increasing sales and customer loyalty, working on your exit strategy, or transitioning your business, it is important to build a strategy that is realistic for you and your organization. Making a solid plan and coming up with an effective strategy to achieve your 2022 goals is essential to make sure that those plans become a reality.
What Should Business Owners Expect in 2022?
ArticlesSince 2020, the world has been dealing with rapid transformations across every business sector. Our world is changing extremely fast and business owners must be ready to adapt and take action if they want to keep up with these changes.
How to Build an Authentic Social Media Presence
ArticlesIf your brand does not have a presence on digital platforms, it is as if your business does not exist. Your social media presence determines how your customers will perceive you, and you must dedicate time and effort to curating it.
3 Benefits of an Engaged Workforce
ArticlesThe benefits of an engaged workforce are endless. Employees that feel valued and cared for within an organization are less likely to be absent from work and are more likely to stay with you for the long-term and therefore minimize turnover in your business.
Business Model Adaptation: How Do I Change?
ArticlesJust as with any other aspect of an organization, business owners need to be prepared to make changes and adapt their business models to fit current circumstances.
How Will You Exit Your Business?
ArticlesEventually, all business owners will have to consider exiting their business. Which exit strategy best suits you and your business’s needs?
What is Employee Engagement and Why Does it Matter?
ArticlesDuring the past year, some of your employees may have felt isolated, worried, and/or anxious about their future in your organization. As you prepare to welcome them back into your company, it is critical to make employee engagement a priority.
Three Things You Need to Know about Creating a Winning Business Model
ArticlesOwners need to develop a market-focussed business model to deal with the fast-paced changes they are faced with. The main consideration needs to be that conventional strategic thinking will no longer serve you in the “new normal.”
How to Turn your Customers into Loyal Enthusiasts
ArticlesWhen your customers become your fans, you will quickly realize that you have the potential to increase your revenue without having to increase your marketing budget. Word-of-mouth is a powerful marketing tool and when your customers are also your loyal fans, they will often do the work for you.
Get the Jump on Disruption
ArticlesEver since the beginning of the pandemic, years’ worth of market and business changes have been compressed into days, weeks, and months. This has been highly disruptive for small businesses, requiring business owners to rethink their business model. Despite the unprecedented changes, we’ve seen many small business owners weather the storm and keep up with business disruptions, altering their offering in ways they have not imagined before.
How Can You Lead Your Business with a People-First Approach?
ArticlesThe labour shortage is here to stay and will likely continue to affect our economy for years to come. A recent study by Statistics Canada counted a million unfilled positions in the second quarter of 2022 - the most on record and double pre-pandemic levels. There isn’t a quick solution and this will be something that businesses will need to continuously work on for the foreseeable future. So what can you do?
What is DEI&B, and Why Does It Matter In The Workplace?
ArticlesA six-year study conducted by McKinsey concluded that ethnically and culturally diverse businesses are up to 36% more profitable than the least diverse ones. When it comes to gender alone, the profitability gap widens to 48%. By not implementing DEI&B in your organization, you are missing out on opportunities to watch your team and individual employees truly shine.
Find Value in the Unknown When Selling Your Business
ArticlesAs human beings we don’t naturally think about things that are unknown to us. We’re much more comfortable fine-tuning what we do well. While the unknown unknowns may be a ‘black hole’ from an owner’s perspective, it is the area where people looking at the business from the outside will be focusing their attention.
Unsure What Employees Need in Today’s Workplace?
ArticlesUnsure What Employees Need in Today’s Workplace? - As business owners, there isn’t much that we can do to avoid events such as a pandemic or a labour shortage. However, we can build an environment within our organization that provides our employees and future employees a sense of belonging and purpose. There are three universal needs that employees are currently seeking in a job — what do they entail?
Three Business Trends To Watch Out For in September
ArticlesFour Business Trends to Watch Out For In the Fall - As we prepare to come back to the workplace after the summer season, it is important to reconsider business trends and consumer behaviors to stay one step ahead of the competition. Here are some trends to keep an eye on this fall to ensure that your company achieves a more successful 2022.
How To Change Your Transition Approach
ArticlesHow to Change your Transition Approach - When entrepreneurs start their business, they generally start by doing things they are good at or things they are passionate about. Over time they develop habits that work for them - and although those habits are valuable practices that have proven to work very well in the early stages of a business, those habits can be the very things that now stand in the way of owners being able to exit the business. So how can you, as a business owner, change your approach?
How are Growth and Scaling Different in Business?
ArticlesHow are Growth and Scaling Different - "When it comes to growth and scaling a business, many may think these both refer to the same thing - a company getting bigger, increasing revenue, and serving more clients. However, growth and scaling are two different aspects of businesses and should be treated as so.”
Seven Tips For How To Scale Your Business For Sale
ArticlesAs with most things you’ve dealt with in building your business, tackling the issue of scalability starts with accepting the fact that you will most likely have to make some changes. And as Einstein said, the biggest change you will need to make is how you think about your business. I call it creating a scalability mindset.
The Importance of Value Drivers for Business Owners
ArticlesValue drivers are business characteristics that drive growth. Regardless of your organization’s industry, it is important to consider these drivers: next-generation management, growth strategy, and customer, suppliers, products, services, and industry diversification.
The Importance of Knowing the Value of your Business in a Business Transition
ArticlesWhen thinking of exiting your business, entrepreneurs must understand the value of their organization. Business valuation can be a complex process but it is an essential part of a business transition. There are a few different approaches that you can take to understand how much your business is worth. The three primary approaches are known as the Income Approach, the Market Approach, and the Asset Approach.
3 Ideas That Will Help You Achieve Your 2022 Business Goals
ArticlesWhether you are thinking about decreasing turnover, bringing in new technology, increasing sales and customer loyalty, working on your exit strategy, or transitioning your business, it is important to build a strategy that is realistic for you and your organization. Making a solid plan and coming up with an effective strategy to achieve your 2022 goals is essential to make sure that those plans become a reality.
What Should Business Owners Expect in 2022?
ArticlesSince 2020, the world has been dealing with rapid transformations across every business sector. Our world is changing extremely fast and business owners must be ready to adapt and take action if they want to keep up with these changes.
How to Build an Authentic Social Media Presence
ArticlesIf your brand does not have a presence on digital platforms, it is as if your business does not exist. Your social media presence determines how your customers will perceive you, and you must dedicate time and effort to curating it.
3 Benefits of an Engaged Workforce
ArticlesThe benefits of an engaged workforce are endless. Employees that feel valued and cared for within an organization are less likely to be absent from work and are more likely to stay with you for the long-term and therefore minimize turnover in your business.
Business Model Adaptation: How Do I Change?
ArticlesJust as with any other aspect of an organization, business owners need to be prepared to make changes and adapt their business models to fit current circumstances.
How Will You Exit Your Business?
ArticlesEventually, all business owners will have to consider exiting their business. Which exit strategy best suits you and your business’s needs?
What is Employee Engagement and Why Does it Matter?
ArticlesDuring the past year, some of your employees may have felt isolated, worried, and/or anxious about their future in your organization. As you prepare to welcome them back into your company, it is critical to make employee engagement a priority.
Three Things You Need to Know about Creating a Winning Business Model
ArticlesOwners need to develop a market-focussed business model to deal with the fast-paced changes they are faced with. The main consideration needs to be that conventional strategic thinking will no longer serve you in the “new normal.”
How to Turn your Customers into Loyal Enthusiasts
ArticlesWhen your customers become your fans, you will quickly realize that you have the potential to increase your revenue without having to increase your marketing budget. Word-of-mouth is a powerful marketing tool and when your customers are also your loyal fans, they will often do the work for you.
Get the Jump on Disruption
ArticlesEver since the beginning of the pandemic, years’ worth of market and business changes have been compressed into days, weeks, and months. This has been highly disruptive for small businesses, requiring business owners to rethink their business model. Despite the unprecedented changes, we’ve seen many small business owners weather the storm and keep up with business disruptions, altering their offering in ways they have not imagined before.
Podcasts
The Seven Deadly Sins of Transition
John Hotson
John Hotson discusses the Seven Deadly Sins of Transition with CIBC Private Wealth Management.
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WHAT We Believe
Reference Articles
An Agile Approach to Budgeting for Uncertain Times
Budget conversations are not far away from strategic planning conversations. This article focuses on aligning budgeting within the conversations about strategic planning as businesses withstand the current turbulent environment. Anticipating what can be cut without straying away from meeting strategic objectives is a key factor in making your company agile towards the constant changes happening in the economy. Find out the three methods that work in this article: Read More
The First Commandment of Strategic Planning: Don’t Fail To Plan
Failing to plan can result in additional stressors particularly during an already unsettling time. Creating a detailed and focused plan of the direction you want to go in, whether you want to grow, exit or step back, is essential to achieving and staying on the path to success. Read the full article here: Read More
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