Posts

Wants versus Needs - Changing customer mindset

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This week’s discussion is changing customer mindset from what they want, to what they need. Are you a business owner who struggles with differentiating between what customers want, versus what you believe they need? Do you just focus on delivering wants, or is there a way to change customer mindset to align with your offering? Sometimes people do not know what they need until they are faced with a problem they had no idea was there. This comes from a variety of places including being reactive versus proactive, and not looking forward envisioning challenges which can get on the way of achieving goals. A second problem is called prioritization; If you do not believe me, how about this: ‘I have some extra money and really want this new boat’ versus ‘my roof is twenty years old and will need replacing soon.’ Considering the cost of a new roof is as much as the new boat, and more if it leaks and damages your house, which will you choose? If the new roof is a no brainer for you, congratulati
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What's the Plan? - An introduction to Business Continuity Planning.

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One of my favorite topics is Business Continuity Planning. Why? Because storms come in many forms, and you need to be prepared for the storms which will prevent you from delivering goods and services to your customers.   It starts with a Risk Assessment: Identifying what can go wrong, what is the probability of it happening, how will it effect the organization, and what can be done to mitigate the loss?   If we look at what can go wrong, the list is endless: fire, flood, break-in, accident, sickness, snowstorm, and even civil unrest. Other business factors may include labour disputes, broken machinery, or disrupted supply chains.   The Probability is the likelihood of the event happening; for example, there is a 15% probability that a staff member may call in sick, or there is a 50% probability of a paralyzing snowstorm.   The impact is what affect it will have on the organization; for example, if I have one employee on sick leave, the impact on production may be low, but if I have
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Strive for Five!

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Do you strive for perfection in your business? Do you struggle with getting reviews which will help your organization grow? Regardless of whether you are selling goods or services, in-person or on-line, past customers are leaving reviews, and prospects are looking for five stars. If you don’t believe me, when I used to shop on ebay I would scroll past anyone with less than 97% positive feedback; on sites such as Amazon, less than 4 out of 5 and you are out of the race. This week I have been focusing on improving the content and quality of the on-line courses I offer. My motivation comes from two factors: low sales, and falling stars. Not from all courses though, just the ones which I created at the beginning of my journey.  One thing which jumped out at me right away was my sound quality was poor; second, although my content was good, my lesson video slides were boring.  Another important factor was reading the narratives on the reviews, and actioning improvements based on the feedback
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Work from home.

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  Are you working from home or have a hybrid arrangement? Does a work from home environment pose its own challenges? When I was a manager in corporate, there were a handful of employees who were authorized to work from home for various reasons. However, one of the    conditions is work is work, and home is home, and during the 8 hours of work, the two shall not meet. Take childcare for example; employees were required to make childcare arrangements outside of the home the same they would if working from the employer’s facilities. I realize during the pandemic it was a little different as daycares were also closed, and sometimes you have days like today. I believe in the long-term there needs to be the separation as redirecting your attention back and forth does not allow you to do either well, and it is not sustainable. Then there is dress and deportment; although it is obvious you should be appropriately attired for video meetings, what is not as obvious is how dressing for work place
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From employee to employer.

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  Are you an employee who is curious about the real world of business ownership? Are you an employer who struggles with employees not appreciating what business ownership really means? All of us have either said it, or heard it said: ‘you must make a lot of money from me’; ‘it must be nice to be the owner’; ‘what are you worried about, it’s just a write-off for you.’ But do non-business owners really know what business ownership means? Let’s start the discussion with financial investment: Some take their life savings and purchase a building, equipment, materials and labour for research and development, then make products or open doors for service… all with the hope of the customers coming… and when they don’t, they lose everything. Others borrow money or find investors who demand a minimum return otherwise they will invest elsewhere… in which case there is no business, therefore no job for the employees to go to. I was present the day a client’s employee made the comment about how much
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Welcome to my blog.

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 Welcome to my blog where I will share insights on various business topics and issues. My name is Dan Elliot and I am a professional accountant who has also served as a military aircraft mechanic, a volunteer emergency services worker, and combined these experiences managing business entities. From these experiences I will address topics such as accounting and finance, contracting and procurement, human resource management, and business operations topics such as business continuity planning.  Please follow my blog for important information for managing your business. You can also subscribe to my YouTube channel for further insights, and visit my website forwardlookingsolutions.ca to access the courses and books I have written. My first post of this series will start with addressing key differences between being an employee versus an employer. Let’s get started.
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