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In Defence of Business Plans
photo © 2010 Louise Docker | more info (via: Wylio) I think business plans get a bad rap. There’s a movement out there that says that business plans are a waste of time because they can’t accurately predict the future. For this reason, these people will tell you to not bother doing one. They’re missing…
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2 for $7.99 – Pricing Strategy
Last week, I read a few articles written by Paul Hunt on pricing strategies for companies. His view on pricing is interesting and I found some points that may be helpful for your business. Most companies have yearly growth ambitions. Lets say your goal in 2011 is to increase profits by 12.5%. Now, where do…
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The Scary takeover bid of PotashCorp by BHP Billiton
Since Halloween is just around the corner, it fits to have a scary story for a blog post. Anybody following the Canadian business scene is at least slightly aware of BHP Billiton’s takeover bid of PotashCorp. In Saskatchewan, the debate has taken a very political turn, with people dredging up arguments based on ideology. The…
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A Lesson From The Social Network
I recently saw The Social Network, which is the story of how Mark Zuckerberg started Facebook. The movie has a number of valuable lessons for entrepreneurs but I think the most poignant one involves Cameron and Tyler Winklevoss and Divya Narendra. They had allegedly hired Zuckerberg to finish work on the HarvardConnection, a social network…
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Streaming Killed The Video Star
In 1981, MTV famously launched itself by playing the Buggles video “Video Killed The Radio Starâ€. While this prediction didn’t come true, radio’s influence in the music business was certainly diminished. MTV had come up with a new business model that disrupted radio’s dominance. The record industry would face an even more disruptive force as…
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Watch out for venture financing scammers
We’ve all had the emails. Either a Nigerian prince wants to send you money or a British relative has died and willed their fortune to you. All you need to do is send a small amount of money as a sign of good faith and your fortune will be delivered in a few days. It…
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WestJet’s Competitive Advantage
Carrying on from last week’s blog “Finding Your Competitive Advantage,” this week we look at how WestJet found success by finding its niche in the airline industry. WestJet is a unique case because it was able to position itself as a company that offered both lower prices and better service than its competitors. That’s something…
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When is the right time to go for funding?
When starting a business, a common problem is a lack of cash. In fact, many of our clients believe simply having enough funding would solve their problems. While it can be partially true, this kind of thinking can be disastrous for a startup. Here’s why. What lenders and investors look for When assessing lending or…