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Bye EO, Hello C–what it takes to lead a company

Posted by danna | Posted in Blog | Posted on 18-05-2009

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Everything is getting abbreviated and chopped up into smaller chunks…But when it comes to reducing CEO to C, it is not just a matter of quick info and convenience.

To lead a successful movement, you have to be the Chief of your tribe of believers (those with a similar take on something), as described by Seth Godin.

The following TED video discusses the key factors in what defines a leader and a movement. Products and brands are no longer bound to old staples of factory production efficiency (reliant on lower and lower labor costs and faster and faster production machinery) and forceful pushing through advertising and the media.

Tribes, groups of people that identify with some aspect of a product/brand, are unified by the product and as a group are willing to spread the message of the brand.

This video
is closely linked with other talks and articles I’ve read, specifically “Social Media: The Five-Year Forecast” combined with Stuart Knight’s Talk, “The Art of Powerful Conversations“.

What this amounts to is the need for conversations collected between groups of consumers to define brands and push the mission of companies and causes. This is the future of marketing.

Taking off

Posted by laura | Posted in Blog | Posted on 17-05-2009

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A quick FP article about some business ideas that do well during the downturn. I’ve actually heard Bassam Al-Sarraj speak a few years ago when he had just launched. He spoke about what got him to where he was at that point and I’m glad that it worked out for him.

Michael Lee-Chin’s Tips for Success

Posted by danna | Posted in Blog | Posted on 13-05-2009

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Michael Lee-Chin is the billionaire entrepreneur behind the very successful Canadian investment company AIC. (That’s C, not G like the disaster-ridden American insurance company.) He’s incredibly inspirational—a true rags to riches self-made man. Here are some notes from a talk he gave today at the University Club in Toronto.

  1. Principles. Have principles and stick to them.
  2. Passion. Be passionate about what you do. With passion, you can outwork anyone who isn’t as passionate. Having strong principles makes it easier to be passionate.
  3. Patience. Success comes slowly. Five years of hard work is a bare minimum. Having passion makes it easier to be patient.
  4. Perseverance/Perspiration. Expect to work hard. All of the above make it possible to work harder.

Every successful businessperson does the following five things:

  1. Owns just a few businesses.
  2. Understands these businesses thoroughly.
  3. These businesses are in industries that are positioned for long-term growth and profit.
  4. Holds these businesses for the long term.
  5. Use other people’s money to enhance the rate of return.

On a personal level:

  1. Build a good reputation and let nothing touch it.
  2. Differentiate yourself. Do not become a commodity.

He believes in “Do well, do good.” That is, it’s not enough just to be personally successful. One must also give back to society.

Another big lesson is to ask for what you want, no matter how unreasonable it might seem.

Some key quotes:

“Danger = Crisis + Opportunity” (from Chinese)

“Risk more than others think is safe, care more than others think is wise, dream more than others think is practical, expect more than others think is possible.” (of unknown origin)

“To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What’s needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework.” (from Warren Buffet)

post courtesy of Aran Donohue

Alex and Niall <3 Mom

Posted by danna | Posted in Blog | Posted on 13-05-2009

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Alex Shipillo, President of Impact’s British Colombia Office and Niall Wingham, Chief Operating Officer, love their mothers–and they have a video saluting the one who raised them, praised them and showed them how to live in a sweet mother’s day song.

Click here for the video
where the boys show their moms how much they love them.

Someone Put A Stop-Sign on this Post!

Posted by danna | Posted in Blog | Posted on 09-05-2009

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In this article, the Financal Post speaks highly of 39 500 jobs being created through self-employment!

At least, I figured they were going to do so with an article titled “Canadians embracing a do-it-yourself recovery”

But as I read along, I couldn’t help but sense a bit of pessimism from the Post:

“Analysts say the increase among the self-employed is largely the result of people giving up…”

“It is better than nothing,” said Avery Shenfeld, chief economist at CIBC World Markets. “And for some people, it is a rewarding position — but at a lower income.”

“It is a pattern you usually see, but it is a little faster and a little stronger than the previous recession,” he said. “And the rate of success is not very likely.”

Ooo–OUCH! That’s some harsh hatin’ right there.

As I continued to take hits for all of us so passionate about spreading the entrepreneurial, go-getter, do-it-yourself spirit I decided I’d pause the pain for a second and reflect.

Does being self-employed truly mean being entrepreneurial?

Is it the title one carries or action that one takes that defines an entrepreneur?

Or is it the motivation and attitude one has that defines an entrepreneur?

I’m so lost.

Being self-employed versus being an entrepreneur–Does a distinction exist?

I think there is one–but I guess it’s just perplexing to think that someone could be disciplined enough to run their own company if it did nothing for them/was just a temporary band-aid on the job shortage situation.

What do you guys think–Could you ever open and run your own business without a burning passion for it? Would you be your own boss if all it meant was not taking a job at McDonalds instead?