You know how you thought that owning a successful business would give you the freedom and lifestyle you wanted for you and your family? And now you’re having doubts that you can make it a reality. You aren’t ready to give up, but you’re feeling guilty about the toll it’s taking on your family. You’re afraid that your partner is going to throw in the towel, and you’ll lose everything you’ve worked for – both your family AND your business. You feel guilty about missing family events, never having time to tackle the “honey-do” list, you miss special moments (like putting the kids to bed) and you don’t even discuss vacations anymore. Sound familiar? You feel stuck in your business, and unable to scale it in such a way that would allow you to focus your time on strategy. You’re feeling unappreciated at home, misunderstood and frustrated. And that was…
Imagine you won the lottery that deposited $86,400 into your bank account each morning and emptied it each night regardless of whether there were funds remaining in the account. No carry over. You could spend or invest the funds as you liked. The same happens each day. You get 86,400 seconds to use each day. How much of that time is wasted? How much is effectively invested in activities that bring you closer to achieving your goals? Every day you and your employees waste time looking for documents, resources and information. Time is wasted with re-work, extra trips and unproductive meetings. A McKinsey study reported that 1.8 hours on average is spent each day looking for information. Let’s cut that down! Quit Wasting Time Tips Document your processes – make them easy, fast and effective. if they’re not documented, they don’t exist. Onboard and effectively develop employees – Firms often…
Why Celebrating Wins Makes You A Better Leader Sure, you’ve heard it at every goal-setting and leadership session you’ve attended… “Celebrate WINS”. But do you know why it makes you a better leader? If you pay lip service to your team’s successes without recognition, what does that say about you as a leader? How do you think employees feel about a leader who doesn’t appreciate their efforts? Those perceptions may also reflect on the company’s ability to attract and retain the talent it needs. 7 Reasons Why Leaders Should Celebrate Wins It reminds you why the goal was important in the first place. When people apply themselves to the task at hand, they may forget why it was important at all. Taking time to celebrate the win reinforces the WHY behind the activities. It reminds you that a good goal-setting process works. Success inspires individuals to repeat actions that led…
The Beginning. The End. The In-Between. Get a pen and paper. Ready? As quickly as you can, without thinking, jot down everything that ENDED in 2018. What was over? What did you give up on? What did you just plain STOP doing? What habits did you break? Make another list. This time jot down everything you STARTED in 2018. What began? What new habits did you adopt? What decisions did you make? What relationships started Which list makes you happiest? Why? We are HUMAN BEINGS. We are forever in the process of becoming the being we were meant to be. We are getting closer and closer to fulfilling our life’s purpose. As one year comes to an end, reflect on the achievements, however big or small they may seem. Dedicate some time to creating a list of 10 or more positive, affirmative statements that you are becoming in 2019. We…
A lot of self-employed individuals never give a thought to succession or sale of their business. Often sacrificing resources, personal relationships and health to grow a successful consultancy or practice, the end of the business arrives with little fan fare and, unfortunately, often without their families by their side. It doesn’t have to be this way! I’m using a parent – child analogy to illustrate the 7 keys. Even if you are not a parent, at one time in your life, you had parents or caregivers who looked after you and raised you until you become 18. The “coming of age” is a similar process to starting up a business and growing it to the point of “18” – with grown up responsibilities. 7 Keys for Succession or Sale: Prepare for the experience from day 1. Keeping in mind that one day you will not be around, you have a vested…
Today, I’m celebrating entrepreneurial Moms. Generally, I think of women in business when I use that term, but today, I’m talking about Moms and the entrepreneurial traits they show in their family leadership roles. In a previous entry, I explored Family Leadership in more detail. Passion Gosh, we know what that is! As a Mom of 4, the overwhelming emotion called passion has spurred me on. As a family leader, my conviction to support our children to be as independent as possible helped me muddle through times when they were learning to make good decisions by allowing them to enjoy the consequences of “iffy” decisions as they grew up. For one of our children with some developmental challenges, the “expert” advice of what she would “never” do spurred me on to try many more ways to help her flourish. And flourish she did. Passion: intense, driving, or overmastering feeling or…
I’m often asked, “Laura, how did you manage to build a professional career, raise 4 successful children, volunteer in your community and contribute to a successful family business?” I think they are looking for that silver bullet that they can copy! The silver bullet is grit, perseverance, and focusing on what matters. Accept that there are many different ways to achieve the personal, family and career goals. In a family, talking about your family’s purpose helps all family members align personal, family, career and business activities. We wear many hats and perform many roles in our lives. What I find useful is to focus on the few roles I am performing in the moment rather than trying to keep all the hats on at once – or feeling guilty if I am not performing one or more roles all the time.Focus on what matters to you, your family, your career, your…
If you’re an entrepreneur or thinking about marrying one, this is no joking matter. Sure, lots of engaged couples participate in “marriage prep” courses or programs, but none of them are designed for you to really vet the partner for “fit” if you’re an entrepreneur.Even if your “head” knows you should be having these conversations, your “heart” gets in the way and they rarely, if ever happen prior to tying the knot. Ensure you’re not getting into a relationship without fulling understanding the financial health and circumstances of your future partner. My mother-in-law gave me this sound piece of advice, “Have you checked his wallet?” No one needs the surprises that come along with undisclosed credit card or student debt. Tip: Respect the JOINT finances. Treat your marriage like a business project – dedicate time to it, get on the same page, shared vision and values. Treat your…
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…
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…
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…
Low oil prices and recent wildfires will have some individuals making decisions to move away from the Fort McMurray region. Some will see this as a benefit with sons and daughters returning home to take up residence. For many years, we’ve seen our Saskatchewan farm kids fly off to work in the Fort McMurray region. As a result, farm operators have worked longer hours and looked to temporary foreign worker programs and immigrant workers to fill staffing requirements. Many sold their operations when potential successors moved away with no intentions of returning to carry on the business. They may now be having regrets. No one has a crystal ball that shows an end to the economic downturn and the return to a stable job and financial market. Statistically the rates of entrepreneurship increase with higher unemployment rates. When People cannot rely on corporate jobs, they create their own job. While…