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Chicken & Egg… Family & Business

October 20, 2016
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  We’ve all heard the adage, which comes first, the chicken or the egg? In our family business, our adage is, “Which comes first – the family or the business?”If you’re involved in a family business, you can likely identify with that statement. I know there are many times when I’ve felt the business came first and the family second. I also know that are just as many times when the family came first and the business came second. I don’t know about you, but it seems easier to remember the times the family played “second fiddle” than the times it was the star. My heart remembers those times, but my head remembers both. Jay Hughes has been working in the field of family wealth and family enterprise for many years. I recently watched a video interview series conducted with Jay. His explanation of family wealth was enlightening. His definition…

Are you a One Trick Pony?

October 17, 2016
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The urban dictionary describes a “one trick pony” as someone who has few talents or skills. As a business owner, I’ve fallen into the same trap many of you fall into: thinking I am skilled in all aspects of the operation and in the business. I am not a ONE trick pony, but I’m not an ALL trick pony either.  So now what do I do about it? I am now AWARE of the need to change SOMETHING to grow my business, reduce my stress or save me time. If you’re like me, you mull this idea around in your noggin for a few weeks, months, perhaps years until something spurs your DESIRE to make the change. This catalyst might come from within or from outside yourself. AWARENESS and DESIRE are critical elements that need to be in place before I am motivated to do the work to realize the…

“…. The Chaos is all so Beautiful”

October 15, 2016
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It’s a cruel and random world, but the chaos is all so beautiful. ― Hiromu Arakawa Do you feel that  you’ve found a way forward with your business when another crisis hits? Are you grappling with ways to respond in a way that is sustainable? If so, you’ve got lots of company! It’s no secret that businesses in Alberta have been struggling with many “whammies”. What gets my goat is the narrow mindedness of those who attribute all the woes to one cause. There are oodles of variables at play that contribute to successful business. Only two of those are the political and economic climate. Even those 2 variables have multiple layers – global, national, provincial and local. Are you ready to stop being a victim and to start focusing on building a predictably profitable business that is healthy enough and resilient enough to withstand the challenges? Join us at our Business Strategy Summit and get…

Key Financial Strategies in a Cash Crunch

Key Financial Strategies in a Cash Crunch

August 30, 2016
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Every now and then, managing cash flow poses a challenge.  Sometimes these challenges are temporary and seasonal and other times they are persistent.  Whether the cash crunch is a result of personal decisions (such as wedding, baby, personal purchases, investments) or for business purposes (such as buying a business, investing in capital, weathering a downturn in operations or financing growth) planning for a cash crunch is an important part of risk mitigation.  In my conversations with business owners, there is a constant struggle to understand the ideal use of debt to run their business. Operations The main source of cash into a business is through operations.  This is the act of selling your goods and services for cash or collecting accounts receivable.  This cash from operations is needed to fund the business – pay suppliers, employee wages, taxes and return a profit to the business owner.  It is not always possible to 100%…

Another week has passed and my good intentions to work ON our business's "Big Picture" has come and gone. It's so easy to have my day slip away with operational needs, interruptions and otherwise "good" activities.

Good Intentions => No Results

August 27, 2016
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Gosh darn it all!  Another week has passed and my good intentions to work ON our business’s “Big Picture” has come and gone.  It’s so easy to have my day slip away with operational needs, interruptions and otherwise “good” activities.  Does this happen to you too? Are you ready to turn “good intentions” into actions? Are you ready to make a plan for the next 1 – 3 years?  Think beyond “this quarter?” Are you committed to building a more sustainable, secure and profitable business? Do you have great products / services and get great value for customers but you’re lost in the operational whirlwind? Are you so busy being the “manager” that your “investor” hat is gathering dust? Did you say, “Yes” to any of these questions?  If so, you’re ready to make a strategic change in your business.  Get on a clear, simple path to achieve your vision today. Let’s do…

Great Family Leadership Retreat

Great Family Leadership Retreat

August 5, 2016
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Fill in the blank – are you good enough? Smart enough? Understanding enough? Benevolent enough? Harsh enough?  Strict enough?  Thin enough? Confident enough? Having insecurities and questioning whether I am  ________ enough seems to be part of every human being’s struggle.  I struggle to be a good enough Mother, business partner, consultant, spouse, sister, friend, coworker, sister-in-law, fan, community member, volunteer, board member and so on.  I’m sure you do too! In a family business, our struggles with imperfection come with a lot of “baggage”.  Understanding each other’s strengths and personality styles contributes to a healthy culture at work as well as in family relationships.  Understanding contributes to better communication, improved conflict resolution and improved relationships – with co-workers, family members, friends or other individuals I interact with on a regular basis. Tolerance is not the same as understanding.  I can tolerate my partner’s behaviours but if I don’t work to understand…

The Business of Care Giving

The Business of Care Giving: Systems and Routines to Help

July 26, 2016
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If you are a family caregiver for a loved one – aged or with a disability, you have likely discovered that before long, you are “running a small business”.  You are hiring staff, overseeing the needs of your loved ones, perhaps paying their bills for them, communicating with health and other program providers, filling out forms and reports and keeping other family members in the loop.  All this often on top of your “other life” – work, other interests, friends and family activities. We can help.  Whether you need a great referral for a service provider, a hiring process, home management routines, financial record keeping and reporting, or communications and transitions planning, our trusted business advisors and coaches can bring peace of mind.  Reduce your stress by running an efficient and effective “family business”.  We can help you develop Family CEO skills! Contact Laura to get started today. Like, comment and share…

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5 Little Known Factors That Could Affect Your Results

July 7, 2016
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I failed my first accounting midterm yet went on to make the Dean’s list and achieved academic awards, graduating as top graduate from one of Canada’s premiere MBA programs. How did I achieve those results? By believing that I could effect my dismal result through hard work: effort. My experiences impacted my beliefs My beliefs impacted my actions My actions contributed to my results My early school experiences led me to believe that I was “gifted” and had natural academic talent that didn’t require me to put much effort into my studies. Because I held these beliefs, I didn’t study effectively and failed the exam. I’m sure I wallowed in self pity for a few days, blaming the instructor for writing a bad test and likely second guessed whether I had what it took to complete the program. If I had a fixed mindset, this experience would very likely have…

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