IMPRINT CANADA THE MARKETING AND INFORMATION SOURCE FOR IMPRINTABLE PRODUCTS
A Tristan Communications Ltd. Publication
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Volume 21, Issue 4
13 Big Mistakes Entrepreneurs Make
Excitement Building for 16th Annual Calgary Imprint Show
Some of the costliest mistakes are often disguised as smart business decisions.
Celebrating its 16th year in Calgary, the Western Imprint Canada Show returns on October 17 & 18, 2014 with another event jam-packed with the hottest new offerings from the industry's leading suppliers, showcasing apparel, promotional products, decorating equipment, accessories and supplies. Nearly 90 suppliers have already reserved their exhibit space to showcase their innovative products and services to the more than 1,100 anticipated decision-making executives who will attend this integral event. Attendees will not only benefit from discovering the newest products available, but can also take in educational seminars from renowned industry experts covering topics such as social media marketing, embroidery and heat printing. In addition, exciting contests will make some attendees big winners! One lucky attendee will drive off with the functional and stylish Amego Cyclone Electric Bike, valued at over $1,000. Also, the company that brings the most qualified attendees to the Show will win a special catered staff party at their office! For more information on the Western Imprint Canada Show, please turn to page 10 or visit www.ImprintCanada.com.
By Tom Panaggio
The entrepreneurial life is rife with potential pitfalls. You can pour your heart and soul (and life savings) into a venture, do all your due diligence, toil 80-hour weeks, and just when you’re on the verge of a breakthrough, a competitor sweeps in and decimates your market share. Or a key vendor declares bankruptcy. Or a partner defects with your top client. Or a new law undermines your viability. Needless to say, a lot can go wrong - and that’s why the least you can do is avoid the not-so-obvious mistakes that have derailed so many (call it the "best odds" strategy for entrepreneurial success). "There are certain predictable mistakes that will derail a new company," says Panaggio, author of The Risk Advantage: Embracing the Entrepreneur’s Unexpected Edge. Many of them have to do with misguided attempts to minimize risk. Others are based on misconceptions about how the business world works, what motivates customers, and so forth. And here’s the thing—many of them seem perfectly harmless, even smart, on the surface. Yet when evidence shows something is a mistake—a proven mistake—you must avoid it. Don’t assume that because it doesn’t feel like a mistake that it isn’t. And don’t believe that your case is somehow different or special because it isn’t. Together with several partners, Panaggio has built two thriving companies: Direct Mail Express (which now employs over 400 people) and Response Mail Express (which was eventually sold to an equity fund, Huron Capital Partners). Panaggio wrote The Risk Advantage to help entrepreneurs face the many predicaments and crises they’ll encounter during their lives and to help formulate their leadership style and business strategy.
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Get caught up on all the latest industry news
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Read up on some critical tenants of cash flow management for your small business 8 5>A4B867C 5>A C74 5DCDA4
We asked suppliers and distributors to share their views on our industry's future 16 F7>;4B0;4 A4C08; B0;4B
Statistics Canada's reports on wholesale and retail sales figures for period ended May'14 38