Canadian small businesses have been facing growing uncertainty due to the political and macroeconomic developments this past year. It’s increasingly important for businesses to source the best available information and make proactive strategic decisions to prepare for all eventualities. Here are the top three developments we’re following this quarter: Continue Reading
Canadian retailers are facing an uphill battle as they fight for market share in a competitive and changing industry. With continued store closures across Canada, retailers are urged to find ways to get in the game – or risk disappearing. Phil Lichtsztral, Partner at Richter Retail Consulting Services, discusses some of the causes and cures of the current retail landscape. Continue Reading
Growing your business and navigating stalls
This insightful three part video series, presented by First West Capital and featuring Alan Oishi, Shirlaws Group, explains how business owners and entrepreneurs can navigate predictable stall points when growing your business.
Part 1: Identify the black holes of a growing business
Entrepreneurs often use the words ‘capability’, ‘competency’ and ‘competitive advantage’ to describe their businesses. These definitions, however, are frequently misunderstood. Having a competitive advantage is more than having core competencies. This is why Amazon trades at over 170 times earnings while the average gas station can be purchased for three times cash flow. It’s important to clarify these concepts, which can provide a framework to help you identify and nurture your business’ competitive advantages. Continue Reading
For small to medium-size businesses, hiring a new employee represents a significant commitment of time and money. The right employee, whether for an entry level position or an executive management role, can increase productivity, improve company culture and ultimately grow the bottom line. Continue Reading