ISSUE 44ISSUE | JUNE 43|MAY / JULY 2018
SUCCESSFUL LIFTOFF BEGINS SPACEX
DRAGON MISSION
Canada Day HAPPY
TO SPACE STATION Pg. 00
SUCCESSFUL LIFTOFF BEGINS Helping you is what we do.
A GOOD REAL ESTATE AGENT DOESN’T DISAPPEAR ONCE THE CLOSING PAPERS ARE SIGNED...
PG. 75
SPACEX DRAGON MISSION Pg. 04
TO SPACE STATION
THIS MONTH FOCUSING ON: Artificial Intelligence Or...?
Knowing Your Customers versus Understanding Them
Are Cashierless Convenience Stores The Future?
Great Jobs for Introverts
SpaceX dragon mission to space station
Courtesy: www.spacex.com/dragon
INSIDE THE SPACECRAFT: The
Dragon
spacecraft
has
three
configurations to meet a variety of needs: cargo, crew and DragonLab. To ensure a rapid transition from cargo to crew capability,
the
cargo
and
crew
configurations of Dragon are almost identical. This commonality simplifies the human rating process, allowing systems critical to crew and space station safety to be fully tested on unmanned cargo flights. With DragonLab, essentially the same spacecraft can be used as a platform
for
in-space
technology
demonstrations and experiments.
RESUPPLY THE SPACE STATION: spacecraft
spacecraft, also referred to as the
01) DELIVERY AND RETURN SERVICES
designed to deliver both cargo and
capsule, is designed to carry both cargo
Dragon is the first commercial spacecraft
people to orbiting destinations. Dragon
and humans into space. Towards the
to deliver cargo to the International
made history in 2012 when it became the
base of the capsule but outside the
Space Station and currently the only
first commercial spacecraft in history to
pressurized structure are the Draco
cargo
deliver cargo to the International Space
thrusters, Dragon's guidance navigation
returning significant amounts of cargo to
Station and safely return cargo to Earth,
and control (GNC) bay and Dragon’s
Earth.
a feat previously achieved only by
advanced heat shield.
pressurized cargo in the capsule as well
Dragon
is
a
free-flying
governments. It is the only spacecraft currently
flying
that
is
capable
of
returning significant amounts of cargo to
flying
Dragon
capable
of
accommodates
as unpressurized cargo in its trunk.
SPACECRAFT PAYLOAD VOLUME: 02 VERSATILE CARGO RACKS
11m3388 ft3
Earth. Currently Dragon carries cargo to
The
racks
are
a
honeycomb
space, but it was designed from the
TRUNK:
beginning to carry humans. Under an
Dragon’s trunk supports the spacecraft
for efficient packing in a zero-gravity
agreement with NASA, SpaceX is now
during
developing the refinements that will
unpressurized
enable Dragon to fly crew.
solar arrays remain attached to Dragon
materials such as biological samples.
PRESSURIZED SECTION The
04
spacecraft
pressurized
space,
carries
environment.
and
houses
variety of standard-size NASA cargo
Dragon’s solar arrays. The trunk and
bags as well as freezers for carrying
ascent
to cargo
They
accommodate
until shortly before reentry to Earth’s
section
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carbon-aluminum construction designed
|
of
the
atmosphere, when they are jettisoned.
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MBE BUSINESS MAGAZINE JUNE 2018
a
05
A Leader's Way To Live Happier Life
Courtesy: MANSOOR NAQVI President MB Enterprises
In today's world, we are all working hard.
all. Anyone can accomplish this by
paperwork, and meeting deadlines you
Our goals are to bring something into our
following these simple steps,
were unable to meet. What you would like
home, so that our family can enjoy the
• Staying focused
to do is take out time for yourself. Have
same success we feel at work. But slowly,
• Honesty
time to talk to your wife or husband, and
as we start becoming more successful,
• Being real
ask them how their day was. Ask your
the things that would once make us
• Having an agenda plan
kids how their day at school was, focus
happy are nothing but small goals in our
• Positivity
on what they say as sometimes it's hard
eyes. We at one point at our life, forget
for kids to build relationship, as many kids
where we started, and how hard it was to
Lets begin with your day at the office. You
nowadays only care about computerized
build from the bottom up. Because of this
need to stay focused and know what you
items. With this you can build a strong
our family slowly, unnoticeably starts to
are planning the day. You will need to
connection in the four walls of your home.
separate, we slowly stop caring about the
make a goal for the day in order to have
Talking to your family about how the day
family around us and start getting
something completed. You want to make
went by with you, and some challenges
involved in our work more. This also
sure that what happens at work, stays at
you had to overcome, shows them how
happens to us while we are working.
work. This is because when you get
hard you also work, and how hard
Many people forget what they are
home you don’t have to be flushed with
someone has to work in order to be
working for, and what their goals are. They use the power that they have gained for foolish and childish things. It is the leader’s responsibility, to remind them about the roots of where they started and make sure that they stay on track. If you fail to do so, then everything that you have
worked
for
will
slowly
start
crumbling in front of your own eyes. If you would really want to be successful and want to pass the same passion you have of your work from one generation to another, you need to work like the day you first started. You need that passion that you had in your eyes when you first started your dream job, and to work towards whatever dreams you first had. For this we need to create a balance between both our work and family life, to teach
the
younger
generation
the
difference and how they can also have it
06
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MBE BUSINESS MAGAZINE JUNE 2018
successful.
we pretend that we know everything, and
Being positive about your decisions and
we believe that whatever we are doing, is
the
Now this brings us to honesty, a simple
right. We slowly start building this lie
sometimes be hard, as we are not always
word that we are told as a kid. But how
around us which will only stab us in the
happy about what we do. We sometimes
would this relate to work and family? This
back when something happens to us, we
let work or family issues get the best of
does have a very big impact on these two
will need to deal with the real world and
us. This is very dangerous, as negativity
places in your life. You have to be honest
not our fantasy. This is why we need to be
only leads to negativity. Working on being
with the people around you, if you lie and
our selves a 100% of the time. With the
positive will lead us to a happier life and
try to take the easy way out then that
people who we work with and the people
this will make the people around us enjoy
person's trust for you will vanish and they
we come home to. When we are our own
what they are doing, if that is work or
will no longer see you as a role model.
self, we can understand other people
spending time together as a family.
Being honest to the people that you work
around us and build a deep relationship.
with is just as important to being honest
choices
that
you
make,
may
Overall, my message to you today is,
with your family. Telling people in your life
Now to be able to finish all the goals that
success is not always easy, and it can be
that you are having a hard time, instead
we have we need to make an agenda.
very easy to be able to forget our roots
of lying and telling them that everything
Planning what we want to do for the day,
and for the people around us to also
will be okay, will open their mind, and
and what goals we need to meet. An
forget their roots. And to make sure that
they will help you which at the end will
agenda will help you remember what you
we don’t associate success with weath
benefit you and your relationship that you
have to do at what time. This will help you
want to succeed, you need to be credible,
have built on honesty.
separate work time with family time.
and acceptable. Both of these things will
Being able to keep track of your work will
help you balance between your family
help you to make new goals that you can
and work.
Being
yourself
during
this
is
also
important. You cannot pretend to be
also work on.
someone who you are not. Many times
MBE BUSINESS MAGAZINE JUNE 2018
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07
June - July
EVENT 2018 CALENDAR JUNE 10
SUNDAY
Laylat al-Qadr (Night of Destiny) in Canada
JUNE 15
FRIDAY
Eid al-Fitr in Canada
Many Muslims in Canada celebrate Laylat al Qadr, also spelled as Laylat al-Qadr or Shab-e-Qadr, which most likely falls on one of the last 10 days of the Islamic month of Ramadan. It commemorates the night when God (Allah) revealed the Qur’an (or Koran), which is the Islamic holy book, to the prophet Muhammad P.B.U.H
Many Muslims in Canada celebrate Eid al-Fitr (also known as Id al-Fitr or Eid ul-Fitr) on the first day of Shawwal in the Islamic calendar. It marks the end of the month-long fast of Ramadan and the start of a feast that lasts up to three days in some countries.
JUNE 17
Father's Day in Canada
SUNDAY
Many Canadians observe Father’s Day on the third Sunday of June. It is a day for people to show their appreciation for fathers and father figures. Father figures may include stepfathers, fathers-in-law, guardians (eg. foster parents), and family friends.
JUNE 21
THURSDAY
June Solstice: Longest and Shortest Day of the Year The June solstice is the Summer Solstice in the Northern Hemisphere and the Winter Solstice the Southern Hemisphere.
JUNE 21
THURSDAY
JUNE 24
SUNDAY
National Aboriginal Day in Canada Canada’s National Aboriginal Day is annually held on June 21 to celebrate the unique heritage, diverse cultures, and outstanding achievements of the nation’s Aboriginal peoples. There are three Aboriginal groups in Canada – the First Nations, Inuit and Métis peoples.
St. Jean Baptiste Day in Canada Saint Jean Baptiste Day, held annually on June 24, is the feast day of St John the Baptist, a Jewish preacher who baptized Jesus in the River Jordan. It is a day of celebration in Quebec and other areas of French Canada. Saint Jean Baptiste Day is also known as "la Saint-Jean" and "Quebec's National Holiday".
JUNE 25
MONDAY
Discovery Day in Canada Discovery Day is celebrated in the province of Newfoundland and Labrador on the nearest Monday to June 24. It is also known as Cabot 500 Day and remembers Giovanni Caboto’s discovery of the province’s island portion. This day is not to be confused with Yukon’s Discovery Day.
08
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MBE BUSINESS MAGAZINE JUNE 2018
JULY 1
SUNDAY
Canada Day in Canada
JULY 1
SUNDAY
Memorial Day in Canada
JULY 2
MONDAY
Canada Day - additional statutory holiday in Canada
On July 1, 1867, Canada became a self-governing dominion of Great Britain and a federation of four provinces: Nova Scotia; New Brunswick; Ontario ; and Quebec. The anniversary of this date was called Dominion Day until 1982. Since 1983, July 1 has been officially known as Canada Day.
Memorial Day is observed together with Canada Day in the Canadian province of Newfoundland and Labrador on July 1 each year. Memorial Day commemorates the brave effor ts of the province’s veterans, par ticularly those who participated in World War I.
This article refers to the additional statutory holiday on July 2. This holiday occurs only in years where July 1 is a Sunday.
MONDAY
JULY 9
Orangemen's Day in Canada Orangemen's Day commemorates the Battle of the Boyne, which took place in 1690 outside Drogheda, now in the Republic of Ireland. It is a provincial holiday in Newfoundland and Labrador on the Monday closest to July 12.
JULY 9
MONDAY
Nunavut Day in Canada
JULY 22
SUNDAY
Tisha B'Av in Canada
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Nunavut Day, which is annually celebrated on July 9, commemorates passing of two Nunavut acts. The Canadian Parliament passed the Nunavut Land Claims Agreement Act and the Nunavut Act on July 9, 1993. Nunavut officially split from the Northwest Territories and became a Canadian territory on April 1, 1999.
Many Jewish Canadians observe Tisha B’Av, which is the ninth day of the month of Av in the Jewish calendar. It is a day to remember various events such as the destruction of the First Temple and Second Temple in Jerusalem. When Tisha B’Av falls on Shabbat (Saturday), it is moved to Sunday, 10th of Av.
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MBE BUSINESS MAGAZINE JUNE 2018
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10
E-Commerce
Effective Communication
SYED MAHMOOD NAQVI Vice President MB Enterprises
Communication is a very important tool
for
to grow in your life because if you know
communication skills that can be used to
how to communicate properly then you
build proper team work and coordination
Effective communication is about more
can convey your message positively and
in the work place.
than just exchanging information. It is
a
person
to
build
strong
in a way that is delivered effectively. It is
speaker is trying to communicate.
about understanding the emotion and
also important you should be a good
The
Mireille
intentions behind the information. As well
listener so that you can understand what
Guiliano expressed this is in a perfect
as being able to clearly convey a
someone is trying to tell you and in return
way
“Intelligence,
message, you need to also listen in a way
you will find that people will listen to you
knowledge and experience are important
that gains the full meaning of what is
in a better manner as well.
and might get you a job, but strong
being said and makes the other person
communication skills are what will get
feel heard and understood.
As a general rule, people do not listen
famed when
French she
author
said
you promoted.”
attentively. Therefore, it’s your job as a
If you are able to communicate effectively
leader to speak as clearly and effectively
When communicating with others we
to your team and peers in a work
as possible. Try and avoid words that
often focus on what we should say,
environment you will see the difference
people will not understand easily. If you
however effective communication is less
almost
use complicated words people cannot
about talking and more about listening.
communication
identify with, it will be harder to deliver
Listening
just
easier and the chances of success
your message properly.
understanding
the
increase tenfold.
well
means the
words
not or
instantly. every
With
proper
job
becomes
information being communicated, but In a work environment it is very important
MBE BUSINESS MAGAZINE JUNE 2018
also understanding the emotions the
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11
How To Become A Good Listener
ALAMDAR HUSSAIN Country Head MB Enterprises
It takes time and practice to learn to
and then wait for answers, we can be that
I’m learning to put myself aside when I
listen. And it takes a caring heart. A
“one other person” someone needs to
listen.
fourth-grade teacher once asked her
share the burdens of his life.
class, “What is listening?” After a few
In order to improve, I’ve asked those I
moments of silence, one little girl raised
Third, listening helps the speaker clarify
work with to help me by pointing out
her hand. “Listening,” she said, “is
his
“Thoughts
times when I fail to listen. I also use the
wanting to hear.”
disentangle themselves when they pass
time driving home from work to review
over the lips or through the fingertips” —
the day. I think back through my
Why Listen?
that is, by talking and by writing. As we
encounters with others at the office, over
To increase my own ability to listen, I
give people an opportunity to talk, we
the phone, at lunch. I make mental notes
started to observe and talk to good
help them sort out tangled thoughts. “The
of situations I bungled, times when I
listeners. I discovered they are motivated
purposes of a man’s heart are deep
failed to listen. I relive conversations and
to listen because they’ve learned that
waters,”
mentally phrase the questions I wish I
listening
draws them out.”
affects
human
behavior
or
her
thoughts.
“but a man of understanding
had asked, the responses I wish I had
powerfully, and therefore they have patiently trained themselves to listen.
given. This mental practice prepares me A good listener gives us the opportunity to express our views without being
In a small notebook I began to record my
judged, interrupted, or redirected. We feel
own findings on the key role listening
safe and unhurried, so we are more likely
plays. First, I learned that listening
to express what is really going on within
affirms people. Indeed, it is one of the
us.
highest forms of affirmation. When we listen, we invite another person to exist. A
Good advice succeeds only in “right
boss who pauses at his secretary’s desk
circumstances” and when directed to “a
to ask her opinion, a mother who
listening ear.”
switches off the vacuum to listen to her child, a customer who stops to say “How
Listening long enough will help us hear
are you?” to a sales clerk — each of
the real statement or question and to
these
uncover
is
acknowledging
someone’s
personhood.
the
feeling
behind
it.
Unfortunately, many of us are too preoccupied with ourselves when we
Human
12
beings
tolerate
and
listen. Instead of concentrating on what is
pressure much more easily if at least one
being said, we are busy either deciding
other person knows they are enduring it.”
what to say in response or mentally
If we learn to ask perceptive questions
rejecting the other person’s point of view.
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for the next time.
HIGH-QUALITY
LISTENING BRINGS GOOD RESULTS. BUT IT TAKES AN
AWARENESS OF HOW MUCH PEOPLE NEED TO BE
LISTENED TO,
PLUS TIME AND PRACTICE.
MBE BUSINESS MAGAZINE JUNE 2018
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ESS 20160620
13
AI: Artificial Intelligence, Or? : Part 1 of 3
Courtesy: DAVID RALPH MACKERETH dmackereth@canimac.com
Everywhere you turn today; it seems
for knowledge and personal happiness.”
million for a total of 5.2 billion monthly
there are new approaches used by
(1) Wikipedia posts, “Faust is an erudite
users.
Artificial Intelligence (or more commonly,
who is highly successful yet dissatisfied
billion searches a day, and owns YouTube
just “AI”) that will impact on the future of
with his life, which leads him to make a
with its 1.5 billion monthly users.” Since
humanity.
predictions
pact with the Devil, exchanging his soul
the current population of planet Earth is
provoke a feeling of dread, and I have
for unlimited knowledge and worldly
only
started to believe the essence of this
pleasures.” We will view periodically the
companies
reaction lies in the specific words
thoughts and opinions from literate and
accumulated Allowable Intrusions.
“Artificial” and “Intelligence”. I think it is
Deep Thinking knowledgeable gurus, as
time to assess Additional Identifiers to
we work towards revealing any Arbitrary
A similar situation existed prior to 1911
the standard words Artificial Intelligence,
Irrationalities.
when the all-encompassing Standard Oil
Often
these
in our attempt to arrive at ‘the best of all
7.5
billion, are
these HUGE,
behemoth with
their
ruled the most important commodity of
possible worlds’, in this case ‘the best of
As AI is developing, we should always
the time. Fortunately, Standard Oil was
all possible words’.
Throughout the
keep in mind the changing players and
broken up into 34 competing companies,
article, I have taken the liberty of
their Ambitious Interference: “Remember
and we read in LINFO, “Historians of the
sampling substitute words for AI along
when the Internet was an unchartered
future will likely continue to view the
with their Applicable Implications. As a
frontier, a free-for-all, and egalitarian Wild
dissolution of the Standard Oil Trust as
prelude to our journey, we are reminded
West.
Innovative start-ups produced
an important milestone in the unending
by Wittgenstein, “the world we see is
much of the exhilaration and excitement.
struggle to restore and preserve free
defined and given meaning by the words
Today the energy and momentum have
competition.” (2)
we choose”, and “the limits of my
shifted almost entirely to the Big Five
quotes Jim Balsillie, of Blackberry fame,
language means the limits of my world”.
[Amazon, Apple, Facebook, Google, and
in a March 31, 2018 Globe and Mail
Microsoft].
Like colonialist empires
article, “If you want to figure out the
Working
14
Google has approximately 3.5
through
the
Marcel O’Gorman
references
scrambling to consume as much of the
motivations of tech capitalists, look at the
supporting this article, I began to believe
map as possible, the race for Internet
outcomes
that the human pursuit of AI may have
control has been won. In addition to the
representing
unintended
consequences.
and
infer
from
Abhorrently
there.”, Insidious
This
platforms they already own, the Big Five
behaviour. Loreena McKennitt recently
obsession with AI brings to mind the
are now on the way to owning artificial
stated, “I’m convinced that ambition and
struggles of the characters in the
intelligence, voice assistants, virtual and
technology have raced ahead of law,
immense play ‘Faust’ by Goethe, written
augmented
policy and norms.” (3)
over two hundred years ago. As Frank
automation, and every other technology
article ‘Why the Future Doesn’t Need Us’
Magill writes in his summary on Faust,
that will rule tomorrow.”, as reported in
(Wired, April 1, 2000) carefully states,
“His final vision is that of all humanity,
Adbusters No. 136.
Haroon Siddiqui
“but control over large systems of
striving onward to turn the chaos to order,
reported in a Toronto Star article on April
machines will be in the hands of a tiny
seeking a dimly imagined goal which is
8, 2018, “Facebook and Google actually
elite - just as it is today, but with two
represented in the final scene by an
operate as a duopoly with Facebook
differences. Due to improved techniques
endless stairway.”, and “he dissects the
having 2.1 billion users while owning
the elite will have greater control over the
philosophical
human
WhatsApp with 1.2 billion, Messenger
masses; and because human work will
damnation brought about by the desire
with 1.2 billion, and Instagram with 700
no longer be necessary the masses will
problem
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robotics,
home
Bill Joy, in his
MBE BUSINESS MAGAZINE JUNE 2018
be superfluous, a useless burden on the
Big
system.” In this instance, AI represents
however,
Amassed Influence, and we need to
demonstrate that we all need to keep The
monitor Analytic Impertinence.
Big Five and Governments front and
Continuing this theme, we hear from
Business
and
these
Governments; few
hopefully
abominable because they multiply and affirm it.”
centre, as we work through a realistic
Stephen Hawking on Copernicus, “When
In an April 2017 Discover magazine
discussion of the Absolute Infringement
– On the Revolutions – appeared in
article by Carl Engelking we find, “A
of Alarming Inhumanity.
1543, it was attacked by Protestant
World Economic Forum 2016 global
theologians who held the premise of a
survey of 800 CEOs (44 percent)
Now let’s go off and discover The
heliocentric universe to be unbiblical.
indicated they believe AI will make
Wonderful Wizardry of AI.
Copernicus’ theories, they reasoned,
people ‘largely irrelevant’ in the future of
might lead people to believe that they are
work.”
An Economist feature section
Ray Kurzweil writes in The Singularity, “if
simply part of a natural order, and not the
‘GrAIt
expectations’
“One
the universe didn’t allow the evolution of
masters of nature, the center around
European bank asked Infosys [a Chinese
life, we wouldn’t be here to notice it. Yet
which nature was ordered.” (9)
company] to find a way of reducing the
here we are. So by a similar anthropic
Harari’s ‘Sapiens’ we learn, “So we are
staff in its operations department from
principle, we’re here in the lead in the
teaching Homo sapiens to talk, feel and
50,000 to 500.” (4) Robert Collins reports
universe.” (6) I am not certain if there is a
dream in the language of numbers, which
in The Stand, “The most important
better
than
can be understood by computers. – Our
question in 21 st century economics may
assuming dominance over everything,
DNA still thinks we are in the Savanah. –
well be what to do with all the superfluous
with this Anthropic Ingrained thinking.
Homo sapiens have no natural rights, just
people.” (5) In a Time magazine article
Also we read the following in Homo Deus
as spiders, hyenas and chimpanzees
(January 29, 2018) Charlie Campbell
by
“Having
have no natural rights. – In order to
reported
then
deciphered the mute laws of physics,
change an existing imagined order, we
executive chairman of Google parent
chemistry and biology. Humankind now
must first believe in an [A]lternative
[A]lphabet
“Russian
does with them as it pleases. Everything
[I]magined order.” (10)
President Vladimir Putin recently said
that happens in the cosmos is judged to
that whoever masters AI will become
be good or bad according to its impact on
(1) Masterpieces of World Literature,
ruler of the world, and China’s AI
Homo sapiens.” (7)
Frank N. Magill, Editor
prowess will overtake the U.S. within a
describes
decade. By 2030, they will dominate the
extraordinary influence humans have
Trust, by the Linux Information Project
industries of AI.” At least China is fully
exercised on planet Earth, “Since the
(3) Why I’m Leaving Facebook, by
transparent with its Social Credit System
appearance of life, about four billion
Loreena McKennitt in the Toronto Star,
to be operational in 2020, as Adbusters
years ago, never has a single species
April 23, 2018
No. 137 records, “Citizens will be
changed the global ecology all by itself.”
(4) The Economist – GrAIt expectations,
measured by a score ranging from 350 to
(7)
Special Report March 31, 2018
950 points based off five category
“Everyone takes the limits of his own
(5) Yuval Harari Reveals the Future of
ratings:
version for the limits of the world”,
Mankind, October 2017, by Robert
providing
Collins in The Stand
that
[I]nc.
credit
obligations, behaviour
Eric
states,
Schmidt,
stated,
history,
personal and
contracted
characteristics,
preferences,
and
interpersonal relationships. Huxley and
illustration
Yuval
Noah
in
of
hubris,
Harari,
Harari further
Homo
Deus,
the
We can add in Schopenhauer’s,
Accommodating
In
(2) The Dismantling of The Standard Oil
Ingeniousness. And with Faust (8) we
(6) The Singularity Is Near – When
get:
Humans Transcend Biology, by Ray
Orwell never went far enough between
Kurzweil
them; the global endgame wasn’t a
I call him happy who still hopes to rise
(7) Homo Deus – A Brief History of
superficial
To the surface in this sea of error
Tomorrow, by Yuval Noah Harari
consumption or a surveillance state
The very things we don’t know, we could
(8) Faust, by Johann Wolfgang von
owned and run by an omnipotent,
use
Goethe
faceless authority.”
And what we do know we have no use
(9) On the Shoulders of Giants – Edited,
for
with Commentary by Stephen Hawking
façade
over
empty
We must also
constantly remember, “Janus, the Roman god, contained both beginnings and endings
within
him.
That
(10) Sapiens: A Brief History of Mankind,
duality
Jorge Luis Borges reveals, “The Earth we
characterises AI, too.” (4) There are a
inhabit is an error, an incompetent
plethora of examples of what AI means to
parody.
MBE BUSINESS MAGAZINE JUNE 2018
by Yuval Noah Harari
Mirrors and paternity are
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Happy And Healthy Employees Will Equal Better Productivity
Courtesy: NORTHERN FINANCIAL GROUP www.northernfinancialgroup.ca
How To Get Started Northern Financial Group, an insurance
and
investment
company of 30-years’ experience in specializing in small business financials,
can
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your
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Did you think that making more sales is the first step to gaining more profit? It is only partially true. There is a step zero that comes even before thinking about your cost per acquisition and profit margin and that is the creation of a healthy workplace. The success of your company depends largely on your employees, therefore happy and healthy employees will equal better productivity and an increased will to take initiative. Whether it means investing in things that promote mental and physical health, such as ping pong tables, unlimited vacations, regular team outings or an attractive benefits package, you will see substantial change in the behaviour and mindset of your employees. “Your employees make it their business
MBE BUSINESS MAGAZINE JUNE 2018
to make sure yours is taken care of, so it’s
• You can mix & match levels of
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Mandatory coverage for Extended Health
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17
Tips For Starting Your Own Eyeglasses Business With a Reputed Chain
Courtesy: KANDA OPTICAL www.kandaoptical.com
learn and address your customers’ needs.
Benefits of Sunglasses Before you start your eyewear business it is
recommended
to
gain
some
knowledge of sunglasses. This can prove to be valuable to you when promoting your business. It also helps in knowing what you are selling. UV Protection – Sunglasses with special
Are you looking for a business idea? You
equity. You are able to expand not only
UV protective coating help in protecting
want it to be interesting and simple. If you
into your existing client base, but also into
your eyes and skin around the eyes. They
have the expertise or if you can hire the
new customer base that sees enhanced
can thus also prevent any skin cancer
right people for the job, an eyeglasses
value in your business through the
risks.
business with a reputed chain can be a
association with reputable brands.
Prevent Cataracts – UV protection also
fruitful choice. If you have some product
helps in preventing cataracts.
knowledge, it’s all that’s required to
The Marketing Advantage
Preventing Surfer’s Eye – The right eyewear
succeed in this retail business.
When you become part of an existing
can also help in preventing this abnormal
business chain, marketing your eyewear
tissue growth in the white part of the eye
Starting an Eyewear Business
business becomes easier. You’ll be able
or the cornea. It can further lead to vision
So how can you start your own
to access the marketing expertise of an
problems or inflammation.
eyeglasses business by tying up with a
already successful brand. Besides, your
reputed chain? The following points will
franchise will also be part of their
Made from the right material, the right
give you a clearer idea.
promotion.
pair of glasses can also help in protecting
• You can invest and work yourself or hire
18
your eyes against impact.
people to run your store.
Sunglasses and eyeglasses belong to
• You may already have a store that
luxury products segment. Selling them
So keep all these tips and points in mind
needs to tie up with a reputed chain as a
involves different techniques compared
when starting your eyewear business. If
franchise.
to most other products. You’ll be selling
you are looking for the best chain to tag
• You’re an ophthalmologist, optician or
them not based on lower prices, but
along, Kanda Optical offers a reputable
optometrist.
based on their quality, craftsmanship,
name, years of experience and a
and the technology involved. You’ll have
widespread presence across GTA. And
Take Advantage of Brand Equality
to
the collection of eyewear products is
When you join a reputed chain, you’re
techniques to reach your audience. Keep
able to take advantage of the brand’s
experimenting until you find the key to
W W W. M B E F O RYO U. C O M
|
develop
unique
W W W. FAC E B O O K . C O M / M B E F O RYO U 7
luxury
sales
almost unlimited.
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Knowing Your Customers Versus Understanding Them-The Key To Customer Experience Success
Courtesy: SABRINA DE MARZI sabrina@solutionassociatesinc.com | 905-857-9265 Digital Marketing Manager-Falcon Retail
How much do you know about your
exceed customers’ expectations? Read
Achieve
customers? If you are like most retail
on to learn how.
More and more frequently consumers
business owners in Canada, the answer is “not enough”. Then one must honestly answer the following question:
“Have you made a committed effort to understand your customers better?”
What’s Needed to Understand Your Customers Better
particularly smartphones, to meet their daily needs. Whether it’s to buy a new
In order to build positive relationships
car, apparel or the latest technology
with your customers, you need to have a
gadget, we all advance our shopping
good understanding of who they are. This
journey through mobile micro-moments
includes
insight
to
their
of
well
as
their
decision-making. Any savvy retail owner
comprehensive
psychographic attributes. By having such
knows that in order to be successful in
understanding of your customers is key
valuable insight you are able to better
today’s retail landscape, they need adopt
to achieving core business goals.
understand your customers’ needs to
a new approach that is reflective of the
deliver a more personalized customer
consumer mobile first mindset. Here’s
Whether you are trying to:
journey
why:
• define the best price to set your
levels and leads to a more satisfying
• 82% consumers consult their phones
products and services,
customer experience, all which ultimately
when in store. Google
• build relationships or rapport with your
benefit your bottom line.
• People who use their smartphone in a
If
you
haven’t,
you
reconsider. Having
a
may
want
to
visual
demographics
that
as
increases
engagement
customers,
curiosity,
research
and
shop are 14% more likely to make a
• improve your sales and profitability,
Now
• increase how much and how often your
question:
customers buy from you, or • decrease the costs associated with
here
comes
the
million-dollar
“How can you understand your customers better?”
attracting new customers.
purchase from that retailer. Deloitte Consulting LLP • Nearly 34% of consumers report that receiving promotional messages and sales
announcements
on
their
To understand your customers better,
smartphone upon entering a store was
Knowing your customers better than they
you need to profile them, analyze their
important. HRC Retail Advisory
do will help you to anticipate their needs
interactions with your business and
• 30% of consumers find it important to
and exceed their expectations, leading to
conduct market research to identify
be able to tap into free WiFi while
customer experience success.
trends
in-store, to seek input on purchases via
and
marketing
patterns.
automation
With and
a
WiFi
customer
social media. HRC Retail Advisory
What if I told you that your existing WiFi
analytics platform like that offered by
network can be easily paired with a WiFi
Falcon Retail, you can do all that and
It’s easy to recognize the opportunities
Marketing software platform to provide
more in quick time.
and challenges brought on by mobile
you with valuable insight that will help you achieve your core business goals and
20
are relying on their mobile devices,
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consumers and their micro-moments.
What Wi-Fi Marketing Can Help You
W W W. FAC E B O O K . C O M / M B E F O RYO U 7
The simplest and most effective solution MBE BUSINESS MAGAZINE JUNE 2018
to responding to such conditions is to
Market research is required to identify
improving ROI.
take advantage of a WiFi Marketing
trends
and
patterns
in
customer
cloud-based software platform that can
Let’s delve further into what’s required to
behavior. By identifying these trends and
be easily retrofitted to your existing WiFi
understand customers better and how a
patterns, you will know what motivates
WiFi Marketing software can provide
your customers to buy and how best to
that.
market to them. Additionally, you can use
network to deliver result-driven consumer
experiences.
A software as a service (SaaS) based platform, WiFi Marketing allows you to access a host of marketing features and customer
analytics
capabilities
by
leveraging your existing WiFi network to attract, reward and retain customers more efficiently and effectively, ultimately growing your business and bottom line. Here is a simple view on how a WiFi marketing software platform works: 1. Offer Guest Free WiFi Access, turning your venue into a free WiFi hotspot as a value-add to attract customers. 2. Guests Automatically Receive Your Branded Social WiFi Splash Page, without the need to seek out a staff member to request
your
venue’s
WiFi
login
credentials. 3. Guests Join Your WiFi using a variety of connectivity options to do so; including social media profile like Facebook, email address, mobile number (SMS), and more. 4. Learn about Your Guests through its seamless and unobtrusive digital tracking and data collection process, which instantly builds you a powerful customer relationship
management
(CRM)
database. 5. Engage with Customers by creating real-time or automated hyper-targeted marketing campaigns to attract new customers or reward loyalty to keep customers coming back. 6. Assess Return on Investments (ROI) by conduct post-mortem research using intuitive dashboards to gauge which channel
and
campaign
customers
responded best to and more. 7. Improve Decision Making by leveraging customer analytics and campaign insight provided through its dashboards for optimizing
future
campaigns
MBE BUSINESS MAGAZINE JUNE 2018
and
this
information
to
build
customer
Profiling Your Customers
awareness
When you segment customers based on
services. A WiFi Marketing software
gender, location, interest and spending
makes this research easy.
of
your
products
and
habits, you get a good idea of how best to meet their needs through your products
Using the software, you can analyze your
and services.
ROI by understanding the reasons behind repeat visits and footfall traffic
A WiFi Marketing software can provide
after a campaign has ended, easily
you
measuring
with
above
information
via
campaign
consumers smartphones and through its
learning
which
unobtrusive WiFi tracking and data
respond to best.
results
channels
and
customers
gathering capabilities, which are enabled once consumers have logged in to your
Put simply, WiFi Marketing generates
WiFi network authentication method.
valuable data that is captured and presented to you on intuitive dashboards
Analyze Customer Interactions with Your Business Customer
interactions
refer
to
to help you anticipate, predict and plan for the future better.
any
may encounter or come in contact with.
Revolutionize Your Customer Experience with WiFi Marketing
This includes the pages they visit on your
From
website and the time they spend in your
gathering important data that inform your
brick and mortar store. Since they help
mobile marketing strategy and providing
shape the impression and experience of
a better service, it should be clear how a
customers with your business, analyzing
WiFi Marketing software can help you
customer interactions or customer ‘touch
revolutionize your customer experience.
aspects of your business that customers
attracting
new
customers
to
points’ is important. WiFi Marketing software is changing the A WiFi Marketing software can create
digital marketing landscape and how
strong customer touchpoints by applying
retail businesses in Canada engage with
intelligent customer engagement tactics
and market to customers. To learn more
and marketing campaigns to help you
on how to turn your WiFi into a powerful
map the customer journey better. By
marketing and sales tool for your brand,
providing you with useful information
call 905-857-9265 or book a free,
related to your customers such as their
no-obligation
interests and how often they visit, when
FalconRetail.net/WiFiMarketingDemo.
demo
by
visiting
they visit and how long they stay on premise, a WiFi Marketing software can help improve your customers’ experience and their perception of your business.
Conduct Market Research to Identify Trends and Patterns
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Are Cashierless Convenience Stores The Future?
Courtesy: TAMMY MASTROBERTE Convenience Store News
NATIONAL REPORT — Amazon made
to the customer, and what is our most
facial recognition, in conjunction with
headlines recently with the opening of its
precious asset as an individual — our
sensors on the shelves and the mobile
Amazon
time,” said Ken Gold, CEO of Skilken
app. Customers are also required to have
grab-and-go concept with no checkout or
Gold,
an Amazon account.
cashiers. The entire store is run on
company based in Columbus, Ohio.
proprietary
Go
store,
a
a
real
estate
development
which
the
“Companies are trying to figure out what
Some experts are referring to the
Walk
Out
the next gimmick or differentiator is to
technology as a “disruptor” that will cause
Technology,” as it automatically detects
bring attention to their brand and provide
others to provide a similar service. Both
products taken off and returned to the
the most convenience to consumers.”
Walmart
company
technology,
featuring
calls
“Just
shelves, and adds them into a virtual cart
and
Kroger
announced
cashierless self-checkout concepts to be
for automatic checkout using the Amazon
While Amazon has not revealed the exact
rolled out this year. Walmart plans to
Go app on the customer’s phone.
technology being used in the Amazon Go
bring its Mobile Express Scan & Go,
store (the company did confirm it’s not
which uses a mobile app, to more than
“The whole concept of the cashierless
RFID), experts believe its system utilizes
100 stores, while Kroger is rolling out its
convenience store is about convenience
artificial intelligence with cameras and
Scan & Bag technology, which uses an
MBE BUSINESS MAGAZINE JUNE 2018
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23
app or handheld scanner, to 400 stores in
variety of reasons.
Gold additionally pointed out that it has
2018.
long been a focus of convenience stores “Given the small basket size and short
to get consumers from the fuel pump into
Now that Amazon Go has launched, and
duration of a c-store shopping trip, I don’t
the store, and they often use the
other retailers are offering their own
think handheld scanners are the answer,”
checkout area to advertise impulse buys.
versions of cashierless checkout, should
Gallo said, noting also that with c-stores,
c-store operators be concerned and
there’s the issue of tobacco and
“In a way, it goes against the checkout
looking for their own version?
made-to-order foodservice where people
concept with impulse purchases such as
will need to interact with someone.
gum, candy bars and more, which are
“I do believe the concept has legs, but
highly profitable items,” Gold said.
note: Even though Amazon Go does not
“Nothing I have read would indicate
have cashiers, it still has plenty of
[Amazon Go] will carry cigarettes, and
Still, experts believe adoption of the
employees,” said
chief
that is a destination driver of the c-store
cashierless checkout will increase over
marketing officer at Impact 21, a
industry and a significant gross margin
time, especially as labor costs continue
petroleum and convenience consulting
contributor,” added Steven Montgomery,
to rise and companies look to replace
company
Ky.
president of b2b Solutions, a c-store
certain labor functions with technology,
deploying
consulting company based in Lake
including self-checkout, Gallo explained.
based
“Companies
Rob
in
should
Gallo,
Lexington, be
technology that frees up people to
Forest, Ill.
perform more value-added tasks.” Montgomery also clarified that Amazon
retailers more competitive on price.
According to Gallo, these cashierless
Go is not without employees; it is just
Managed properly in the right locations,
concepts also would not be easily
without
self-checkout can get customers out of
incorporated
beverage section does have associates
into
the
existing
convenience store environment — for a
24
“Lowering overhead costs can keep
W W W. M B E F O RYO U. C O M
|
registers.
“The
alcoholic
the store faster,” he said.
checking IDs,” he noted.
W W W. FAC E B O O K . C O M / M B E F O RYO U 7
MBE BUSINESS MAGAZINE JUNE 2018
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10 Tips To Make Your Next Business Trip Easier
Business travel can be stressful… but it doesn’t have to be.
goals to achieve. However, with the right
A business trip will never be the same as
rewarding, stress-free and yes, even
relaxing on the beach with a pina colada.
enjoyable.
1. Keep Packing Simple by Always Being Prepared
Here are some clever tips to make your
travel-size versions of everything you
approach a business trip can be
After all, you’re in work mode and you have professional responsibilities and
26
Courtesy: CHOICE HOTELS
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W W W. FAC E B O O K . C O M / M B E F O RYO U 7
next business trip better.
Keep a toiletry bag already packed with need, so that you can simply throw it into
MBE BUSINESS MAGAZINE JUNE 2018
your luggage when you are getting ready
they offer with their loyalty program. For
when you use an expense tracking app.
for your next business trip.
example, Choice Hotels has a loyalty
There are many great ones out there to
program that offers you 10 points for
try, such as Expensify, Zoho Expense,
2. Arrive at the Airport Early
every $1 spent, which you can use for
Xpenditure and Abacus.
Arriving at the last minute is stressful,
free stays at over 6,400 hotels worldwide.
long lines at security make things even
You’ll also get extras like Uber discounts,
9. Allow for Downtime When You Are On the Road
worse. Instead, arrive early at the airport,
digital gift cards and welcome gifts when
You don’t have to fill every moment of a
get through security to your gate and use
you stay Sunday to Thursday - which is
business trip with networking, sales calls
the extra time to have a coffee and get
ideal for business travelers.
and other work activities. Soon enough,
especially if unexpected delays such as
you’ll feel exhausted and burnt out. Plus,
some work done on your laptop.
6. Keep Copies of Travel Documents on Your Phone
you’ll be less productive because you’re
3. Download Your Airline’s App Many travelers never think to download
Store
flight
relax in your room with a good book,
the app for their airline, but the airline
itineraries and other important travel info
enjoy a leisurely breakfast or visit an
invests a lot of money into creating these
on your smartphone, so that you can
interesting local museum. You’ll feel
apps so that they can be useful for
access it with the click of a button rather
refreshed and you’ll perform better when
travelers. They often offer you real time
than shuffling through a folder of papers.
it comes time to get work done again!
your
hotel
bookings,
working too much. Take some time off to
updates on your flights, notify you of any gate changes and offer you a paperless
7. Turn it Into a “Bleisure” Trip
boarding system.
One of the hottest trends in business travel at the moment is the concept of
10. Pack The Night Before You Come Back Running around packing at the last
4. Keep Hydrated and Eat Wisely
“Bleisure Travel” - mixing business trips
Travel can be hard on your health, so
with traveling for pleasure. Consider
keep your immune system functioning
adding on another couple of nights to
well by drinking water regularly and
your trip over the weekend so that you
eating healthy meals. Consider a salad
can take the time to see your destination
rather than a burger when you are eating
and check out some of the attractions.
(making sure to check the bathroom and
8. Use an Expense Tracking App
and you’ll be able to wake up and walk
5. Take Advantage of Hotel Rewards and Loyalty Programs
The days of saving paper receipts and
out with ease.
If you enjoy staying at a particular hotel
over. Tracking your expenses while you
chain, find out what rewards and savings
travel for business is so much easier
on the road - your body will thank you!
MBE BUSINESS MAGAZINE JUNE 2018
minute before you have to check out of your hotel room is a guaranteed way to stress yourself out and accidently leave something behind. Pack the night before the closet for anything you may have left)
manually entering expense reports are
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27
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28
3 Reasons Entrepreneurs Fail To Secure Funding
Courtesy: PAUL JACKSON Co-founder of Worthworm
The startup game is a risky business,
ability to lead a company to a successful
current
and for many entrepreneurs navigating
return down the line.
targeting the right market the chances of
the competitive landscape and securing
Ideally, an investor is looking for a
a successful exit will be small.)
the funding needed to survive is a
company with a clear and scalable
Having a clear go-to market strategy that
significant
business model they can get behind and
demonstrates
help grow. I suggest taking advantage of
company’s
hurdle
that
isn’t
easily
overcome.
marketplace.
the
(If
you
potential
sustainable
for
aren’t
your
competitive
the various online-evaluation tools out
advantage is of the utmost importance to
The truth is, there is a limited amount of
there that can help you determine a
an
funding available to startup founders and
reliable and defensible value of your
entrepreneurs
innumerable new ventures born every
startup’s worth before you even enter into
articulating a clear plan to reach a target
day that will be competing for it. Investors
the discussion.
audience and how to scale it over time. If you failed to secure funding after an
(Frankly, those are a dime a dozen.) The
2. Underutilizing the management team. Great leaders aren’t successful
ones that do secure funding, are the
solely on their own. They surround
consider reevaluating where your idea
ones that have demonstrated how that
themselves with people that add value to
fits or the marketplace all together.
good idea will actually come to fruition.
their business, and you need to do the
Perhaps the original market is too small
investor.
That have
said, a
some
difficult
time
simply can’t open their wallets for every good idea that walks through their door.
initial
of
same. Investors need to feel confident
or
most
common
that your team is the right one to take
adjustment, your product could work in a
mistakes
your
peers
have
probably
your company from a small, great idea
different market.
already
made
looking
but
with
meetings,
three
when
crowded,
investor
the
Consider
too
round
a
slight
for
and turn it into a high-yielding investment
investment and how you can be prepared
for them. The goal here is to convince an
The competition for startup funding is
to avoid the same fate as so many
investor that your team is prepared to
likely to only get more intense as we see
founders before you.
face all the challenges and criticisms that
more and more of these billion-dollar
come with running a business. You can’t
exits and high-profile IPOs in the news.
do that if you haven’t fully vetted your
The necessity of learning from past
management team.
failures and adjusting your investor pitch
1. Not understanding your financial situation. Experienced investors know there
are
few
legitimate
to avoid the mistakes that have led many
overnight
successes and that realistically they will
It’s important to prep your team before an
other startups down the road to failure
be lucky to see a return on their
investor meeting and ask them about
has never been more important. While
investment in the next decade.
their past experiences and failures,
there are many reasons a startup doesn’t
understand how that might benefit your
secure the funding they need, it usually
Many newbie entrepreneurs, eager to
business in the long run and use this
boils down to some combination of the
prove the merits of their great idea, make
information
three discussed here. If you can prepare
the mistake of entering the discussion
investors.
when
speaking
with
for those challenges before entering the negotiation room you will be in the best
with an unrealistic value of their company. Not being realistic about the financial situation
of
your
startup
from
the
3. Lacking a clear go-to market strategy. Entrepreneurs just starting out
beginning shows a lack of understanding
often
and frankly maturity, in regards to your
understanding where their idea fits in the
MBE BUSINESS MAGAZINE JUNE 2018
make
the
mistake
of
not
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position to make a positive impression on an investor and walk away with the funds needed to stay in the game.
|
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29
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inc.
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31
4 Fun Ways To Improve Communication With Employees
32
Courtesy: SAMMI CARAMELA
Quality communication in the workplace
Work gets done more efficiently and
"In a high-trust, clear-communication
can prevent unnecessary issues and
effectively
clear,
environment, people can work at higher
encourage
compelling communication within an
levels of performance because there is
crucial that leaders acknowledge the
organization,
Kemp,
mental and emotional freedom to focus
importance of strong communication and
ICF-credentialed executive coach, and
on tasks and engage warmly and
prioritize it above all else.
principal and founder of NorthWise
collaboratively with colleagues," Kemp
Group.
told Business News Daily. "They're not
better
performance.
W W W. M B E F O RYO U. C O M
|
It's
when said
W W W. FAC E B O O K . C O M / M B E F O RYO U 7
there Todd
is
MBE BUSINESS MAGAZINE JUNE 2018
expending nearly as much time and
team building exercises and excursions
new light," he said. "Your phones are all
energy
they'd like to participate in. Cheek uses a
put away, so no emails, calls or texts will
polling system by offering a few choices
be distracting anyone – this is beneficial
and allowing his employees to vote on
for both busy managers and employees
Fostering a collaborative team will make
their favorite. That way, they won't feel
who feel like they are always on call."
for more efficient, confident workers.
forced to participate in something that
Don't leave gaps to be filled with
they have no interest in doing.
managing
their
image,
or
worrying about troubling issues."
You can also participate in a casual
assumptions. Here are four fun ways to
sports game or match, from bowling to
2. Employee happiness budget
miniature
Channeling the concept of "save it for a
engage in healthy, fun competition,
rainy day," managers should consider
Cheek added. Reward winners with small
1. Plan outings
collecting funds for future team outings.
incentives, like coffee gift cards, to
The workplace can be a stressful
Cheek
express your gratitude.
environment,
improve
communication
with
your
employees.
so
employees
sets
aside
an
"employee
golf,
where
workers
can
often
happiness budget" for any time workers
appreciate some time away. Venturing
need a morale boost or break from
Kemp offered another team building idea:
into a different atmosphere, free from
routine.
improv, which allows individuals to think on their feet and collaborate with other
tasks and assigned roles, will help your team relax and open up in a more
"Having this money set aside makes it
comfortable setting.
easier to constantly be improving your
members.
relationship with staff," said Cheek.
"It's a fun, experiential exercise that helps
Ask your workers to a group lunch or
"Since you're flexible with how and when
people realize what it means to listen to
one-on-one coffee meetings. Celebrate
you spend it, you can show in the
and partner with their colleagues, and
birthdays,
moment that you care."
create something new together that didn't
company
successes,
previously exist," he said.
promotions and more, so everyone feels
3. Games and competitive activities
appreciated and valued.
There are plenty of team-building games
4. Themed days
"I like to invite my team out to eat once a
and activities for employees. Cheek
Creating themed days can turn dull
month, where we can catch up on life
recommended an escape room concept
weeks exciting for workers. For example,
outside of work and really get to know
like his company The Escape Game,
Cheek celebrates Waffle Fridays, where
each
which helps improve communication and
workers bring their favorite toppings for
work relations.
the make-your-own waffle bar.
other,"
said
Teddy
Cheek,
marketing and brand director for The Escape
Game.
"Additionally,
as
a
spur-of-the-moment reward, I'll take an
"Playing an escape room is a fun way to
employee out to coffee or lunch. If they
get out of your element, break down walls
are doing a great job or just overcame a
and see the strengths of other people in a
tough problem, it's nice to recognize that both with verbal congratulations and something extra." You can also try more adventurous outings with your employees, like rock climbing or biking. Such activities are great for leadership development and will help stretch comfort zones, said Kemp. Individuals can practice their support for others while facing risks and confronting fear, a crucial part of both professional and personal growth. Let your employees have a say in which
MBE BUSINESS MAGAZINE JUNE 2018
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33
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Business Branding Books That Need To Be On Your Bookshelf
Courtesy: MARISA SANFILIPPO
learning to build a strong, distinctive and recognizable brand while defining exactly how you want to be perceived. Those who take the time to do the work will create a Brand Handbook and Style Guide that will serve as the anchor and guiding force for their most engaging brand. While it's geared toward women, men can also learn a lot from this book.
"Killing Marketing" by Joe Pulizzi and Robert Rose Killing marketing as we know it may be the only way to save it, according to the authors of "Killing Marketing." The entire world has changed the way it buys and interacts with brands over the last two decades. Meanwhile, most marketing Education is power, and there's a special
departments still primarily function the
education that can only come from reading a book. No matter how much you think you know about marketing and branding, there's always something new to learn. The following business books were released in 2017 or 2018 and need to be on your bookshelf right now.
"Style & Substance" by Liz Dennery Sanders "Style & Substance" is a guide and workbook to help women entrepreneurs build their confidence and their empires. Brand consultant and creative director Liz Dennery Sanders takes her reader through
36
the
same
exercises
and
questions she has used with famous
chapters are short, inspiring and easily
clients like Serena Williams, Garcelle
digestible, but don't let the simplicity fool
Beauvais and Kelly Rutherford. The
you. This is a powerful exercise in
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MBE BUSINESS MAGAZINE JUNE 2018
same way they have for the last 60 years: as
campaign-driven,
operations. But
some
of
the
most
innovative companies in the world are actually transforming the purpose of marketing within their organizations by using
a
content-centric
marketing
approach and seeing amazing results. Authors Joe Pulizzi and Robert Rose share insight on how leading companies can drive 10 types of revenue from their marketing
efforts,
to help you factor it into your marketing
book.
product-led
developing
a
marketing function that is no longer a cost center, but one that actually pays for
approach
"Brand Intimacy" by Mario Natarelli and Rina Plapler Divided Intimacy"
into
three
starts
sections,
with
"Brand
Context
and
Understanding. This section explains today's marketing landscape, the effects of technology, consumer behaviors and the
advancements
around
decision-making. The second section,
or
framework.
The
third
section, Methods and Practice, focuses on
the
economic
benefits
and
advantages of a Brand Intimacy strategy. Intimate brands are proven to outperform both the S&P and Fortune 500 indices in both revenue and profit. Throughout the book, the authors reveal how to apply these findings and insights to brands of every scale and type.
Theory and Model, delves into the Brand Intimacy model and dissects it into steps
itself.
"Pitched: A Simple DIY Guide to Public Relations for Small Business" by Jennifer Fortney Ever
wonder
how
so
many
small
businesses and startups attract media attention? Did they hire public relations professionals? Maybe they learned how to attract attention all by themselves. Even in today's social world, PR is still the No. 1 way to build instant credibility for
your
business
with
customers,
investors and partners – and credibility can drive sales. The power of a news story on your business, even a mention, can impact the growth of your business and help you achieve your goals of success. It all starts with a great story that you can learn to tell with Fortney's
MBE BUSINESS MAGAZINE JUNE 2018
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B M / RMA A M R . W WW
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We wish to thank our members for their continued support and their trust in our vision to be the number one platform for cost savings and benefits. We are continuously working to add many exciting new offers and benefits for our members that can be availed by both individuals and corporations.
TOP 38
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How To Use Chrome Remote Desktop For Business
Courtesy: SEAN RILEY
the following pop-up, which gives the app the proper permissions. You're almost done. Now the app will launch and present you with two options: Remote Assistance and My Computers. The first option allows you to share the device you are currently on with another user or to connect to another user that is sharing their device with you. The second option is for the computers that you regularly access remotely, which allows you to establish a permanent PIN associated with accessing that computer. The device that is to be shared requires one additional install. When you click Enable
Remote
Connections,
installation. Simply go to the Chrome
Chrome Remote Desktop Host software
when
a
Web Store in the Chrome browser. Click
will automatically download, and you will
computer was a complicated task that
gaining
remote
access
to
the Add to Chrome button in the
need to follow the instructions to finalize
involved pricey software that took time to
upper-right corner and then Add App in
the installation.
install on both machines (not always possible in a remote scenario) and would frequently fail for a number of reasons. Today, there are plenty of options, but one of the most convenient is Chrome Remote Desktop. Whether you want to offer remote IT support to your team or connect your home PC and work PC, Google's tool is worth a look. It's free and available on all major
platforms,
including
Windows,
Mac, Chromebooks, and Linux. Here's a rundown of how to get started with Chrome Remote Desktop.
Setting up Chrome Remote Desktop One of the best features of Chrome Remote
42
the
There was a time, not terribly long ago,
Desktop
is
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its
|
ease
of
W W W. FAC E B O O K . C O M / M B E F O RYO U 7
MBE BUSINESS MAGAZINE JUNE 2018
To access your device, simply click on its name and enter the PIN. As this is intended for devices that you own and wish to access when you are away, it doesn't provide any additional prompts on the host computer (other than the pop-up that allows the host computer to stop sharing, which is still present). Once your PIN is confirmed, you have complete access to the software and files
Remote Assistance
would like to allow the user to see and
of the host computer until you end the
When providing assistance to another
control their computer. This is the final
session.
user, this will be the option you'll want to
safety check involved. Once they click
use. Remote Assistance gives you two
Share, the remote computer can then
Mobile access
further options: The first is to share the
"see" the host computer's screen, and
Finally, the Chrome Remote Desktop app
device that you are on with another user.
the user can control it exactly as they
allows you to access your desktop when
The second option allows you to view
would as if it were their own computer.
you are on the go. This is limited to the
and control a shared computer.
devices that you have registered in My Throughout a screen-sharing session,
Computers, so keep in mind that this
When you click Share, a temporary,
there is a pop-up message displayed at
function is geared toward accessing your
12-digit access code is generated. This
the bottom of the host computer's screen
own software and files rather than
code then needs to be shared with the
that says, "Your desktop is currently
providing remote assistance sessions.
individual controlling the computer. They
shared with [name of Google account]"
will then click Access and enter that
with a button to stop sharing. To end the
When you open the app, you'll see your
code.
session, the user clicks the Stop Sharing
devices listed, and as with the desktop
button in the Chrome Remote Desktop
app, you simply tap on the device you
app window or the pop-up window at the
want to access and then enter the PIN.
bottom of the screen, and the remote
The app defaults to a touch interface with
user is disconnected.
pinch to zoom and tapping in place of the cursor, but you can enable cursor mode
My Computers
at the top of the screen for finer control as
Devices that you register in this section
well as the keyboard for text entry.
always remain accessible by you as long as they are powered on and the Chrome
With
Remote Desktop Host app is running.
smartphone or tablet, it is surprisingly
When you first set up a device in My
easy to navigate, and while you won't
Computers, you will create a PIN (which
want to work this way for long, it's
must be at least six digits long), and this
adequate for quickly accomplishing a
The host computer will then be prompted
is the permanent PIN unless you change
task or accessing a file you forgot.
with a message asking whether they
it.
MBE BUSINESS MAGAZINE JUNE 2018
W W W. M B E F O RYO U. C O M
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a
modern
high-resolution
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43
7 Ways To Improve Your Business Blog
When done right, a business blog can
1. Define your audience
• Their related interests
market
new
You would never run a magazine ad or a
• Questions they are likely to ask
customers and position you as an
TV commercial without knowing what
• Problems your business can help them
industry
solve
your
company,
leader.
attract
many
type of person will see it. Similarly, you
businesses start blogging without any
Unfortunately,
should never write a blog post without
clear idea of what to write about or how it
knowing who your intended readers are.
will market their company. As a result, These readers should be your target
and
customers – the people most likely to be
energy
without
producing
any
Knowing this will help you choose topics to write about and create a blog that your
business blogging often takes up time
customers will care about
searching for and interested in learning
2. Create an editorial calendar
about your business. If you don't yet have
Customers, blog readers and search
If you have a business blog that isn't
a defined audience, take the time to
engines all like predictability. If you start
pulling its weight, follow these seven tips
create a reader profile based on what you
writing, but then don't post for several
to create a marketing tool that promotes
know of your ideal customers. In this
weeks, readers are less likely to come
your business and builds relationships
profile, include:
back and see what else you've written. A
with customers and colleagues.
• Who your readers are
website that publishes infrequently won't
• What they care about
rank as high in search engines, making it
benefit.
44
Courtesy: MONA BUSHNELL
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MBE BUSINESS MAGAZINE JUNE 2018
less likely that customers will find you
should appear in headings and the body
• Interviews with industry leaders
through online search.
of the post.
• Findings from customer surveys
It's hard to publish regularly, though, if
When you include these keyword in your
colleagues' (credited) posts and images
you are struggling to think of things to
post, they should appear as naturally as
• Information about industry-wide events
write about or forgetting that your blog
possible. Do not add keywords randomly
• Relevant news stories or trending topics
exists. To prevent this, create an editorial
or in sentences where they don't fit
• Collaborations with other businesses
calendar that lays out a plan for what you
organically; this is known as "keyword
will write and when it will be published.
stuffing" and signals to search engines
When you create and share content that
that your site is not trustworthy.
is relevant to your broader industry, other
• Links to round-ups that share your
The frequency of your posts doesn't
businesses are likely to share it as well,
matter as much as the quality and
The written post isn't the only place
creating
consistency. Publishing one well-written,
where you should use keywords. They
professional
relevant blog post every two weeks will
should also be appear in the:
increases the reach of your blog, putting
market
• URL of your post
your business in front of a new audience
publishing poor-quality posts every day
• Blog post title
and making it more likely that you will be
or forgetting to write for months at a time.
• Image names
noticed by the media.
your
business
better
than
the
opportunity relationships.
to
build
This
also
• Image descriptions
3. Brainstorm keywords for each post
• Meta-description of your post's content
7. Blog with care and intent
If you want customers to find your
By optimizing all these places, you send
about your business. More importantly,
website when they search online, your
multiple signals to search engines and
they want to know that you care about
blog posts must include related phrases
make
solving their problems. This means that,
that customers might type into a search
customers to your blog.
Customers want to know that you care
it
easier
for
them
to
direct
no matter the topic of your business blog, your posts should communicate your
engine. Before you write each post, brainstorm
5. Tie your blog to your other marketing
these
Though
phrases
(known
as
"long-tail
its
effect
is
often
investment
in
your
business
and
customers.
indirect,
keywords") so they can be included in
blogging is still a form of marketing. It
By planning out relevant, helpful posts,
your
your
should be tied in with your overall
you show that you understand the needs
company provides accounting services
marketing strategy to have the strongest
and concerns of your customers. A
to small and mid-size businesses, your
possible impact.
carefully written blog communicates that
writing.
customers
For
may
example,
search
if
for
you value their time and want to help
"small
business accounting tips." Aim for one
If you are advertising a sale on your
them. Sticking to a regular schedule
main
three
social media or email marketing, include
shows that you are thoughtful and
secondary keywords that are relevant to
it on your blog as well. If your business is
attentive. All of these are qualities that
the topic you are writing about.
mentioned in the media or you appear on
customers want to see in a business.
keyword
and
two
or
a TV spot or radio show, put that in a blog
4. Optimize your posts for search
post and include a link so that visitors can
A poorly-written blog, however, indicates
Optimizing your blog posts for online
see those appearances.
that you don't value your readers' time. Posts that don't address the interests of
search (also known as search engine optimization or SEO) means adding
If you rebrand your business or change
your customers show that you haven't
signals that tell search engines what your
your website, your blog should change
thought through how your business can
post is about. When search engines read
along with them.
help them. Haphazard posting make your business look scattered or disorganized.
these signals, they can direct relevant traffic to your website.
6. Network within your industry
Bad grammar or poor editing make you
In addition to building relationships with
look unprofessional.
Adding keywords in the right places
customers and directing new visitors to
optimizes your blog post for search. The
your website, your blog can also help
Not every business needs a blog. But if
main keyword that you select should be
establish your reputation within your
your business has one, it will be more
found in the post's title, at least one
industry and help you network. Blog
effective if it is planned with intent and
heading and once or twice in the body of
posts that create network opportunities
written with care.
the blog posts. Secondary keywords
include:
MBE BUSINESS MAGAZINE JUNE 2018
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47
Why Staying Humble Is So important For CEOsAnd So Difficult
Courtesy: MARIANO L.M. HEYDEN & MATHEW HAYWARD
Almost by definition, CEOs need to have extraordinary ambition and self-confidence, but these qualities can limit their effectiveness once they get the job
Uber co-founder Travis Kalanick. His hard-charging style aided Uber’s rise, but ultimately undermined his effectiveness as CEO, leading to his removal by the company’s board of directors
Humility is the latest badge of virtue for
corporate hero. Rather, when faced with
Unsurprisingly, they are less likely to
those in positions of influence. From
adversity, humble CEOs sacrifice their
display self-aggrandizing traits such as
politicians, to executives, to chart-topping
own interests for the greater good.
narcissism.
artists.
48
Studies echo the intuition that humble
Perhaps most telling is the finding that
The idea of a humble CEO is a romantic
leaders are more modest, emotionally
companies and teams led by more
departure from the greedy self-serving
stable,
humble individuals, perform better. But
W W W. M B E F O RYO U. C O M
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and
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eager
to
learn.
MBE BUSINESS MAGAZINE JUNE 2018
despite humility being good for business,
be CEOs complicates matters further.
behavior in the face of uncertainty, and
it’s extremely difficult for CEOs to be
Research shows certain jobs attract
firms often end up imitating each other.
genuinely humble.
people
personalities.
By virtue of their self-awareness, humble
Recruiters in turn rely on judgements,
CEOs can be expected to issue more
Success culls humility
oftentimes
realistic expectations that may deviate
A distinctive strength of humble leaders
candidate’s personality will fit the job and
is self-awareness – confidence in their
the organisation.
abilities
paired
with
with
specific
subjective,
of
how
a
from collective overoptimism. However, analysts tend to rate optimistic
accurate
self-appraisal of their limitations. Yet,
CEOs tend to score higher than the
forecasts more favourably. As such,
people often overestimate their virtues
general
humble CEOs may be penalised for
while underestimating their limitations.
attributes such achievement-orientation,
conveying
ambition,
more realistic, forecasts.
population
on
personality
assertiveness,
and
more
conservative,
albeit
For example, a recurring research finding
risk-preference. Individuals with some, or
is
are
a combination, of these traits may be
Some
better
particularly adept at pretending to fit ideal
accomplished
criteria for a specific role.
potentially become more self aware in
that
people
think
better-than-average.
they
Smarter,
looking, even superior drivers. CEOs are
research
suggests
that
professionals
could
the later stages of their career. If this is
no exception, in fact they may be even more at risk of overestimating their
For
instance,
studies
show
that
the case, then some CEOs may become
strengths.
narcissists are particularly skilled at
more humble as they get closer to
appearing charismatic at first sight.
retirement.
A key reason for this is that CEOs are –
Charisma, in turn, has long been
as a byproduct of their career success –
considered a desirable feature of CEOs.
However, the purported benefits of age
highly confident. Whether the CEO
CEOs
and experience may be offset by other
climbs rungs of the corporate ladder or
accordingly, receive higher pay.
perceived
as
charismatic,
tendencies that emerge during later career phases. For instance, CEOs
whether a celebrity CEO is parachuted in,
they
will
out-competed
have
other
successfully
confident
and
capable people for the job.
Genuine humility may thus be a scarce
closer to retirement have a natural
personality feature among candidates for
tendency
CEO positions.
innovation and those with longer tenures
to
reduce
investments
in
tend to be overly averse to change. The confidence that accrues with career
Hurdles to leading with humility
success is important for leading an
Humble CEOs emphasise leadership as
Equipping organisations with the right
organisation. Yet, success is a mixed
a shared activity and actively seek advice
leadership
blessing. The same string of career wins
from others. Although this might work for
success. Humility is a precious, but rare,
may also lead CEOs to over-appraise
more
commodity in the executive suite.
their strengths without attributing the role
decisions, it may come at the cost of
of other factors, such as luck, in their
speed.
considered
and
analytical
Staying
attributes
genuinely
is
crucial
humble
for
through
progressive stages of high achievement
achievements. often
is difficult for CEOs. Those who are
Such overconfidence can even harm
characterised by an ability to make
authentically humble, in turn, face distinct
organisations. Studies show that CEOs
decisions quickly. In fact, some evidence
challenges that may trump the benefits of
who overestimate their abilities tend to
suggests that more narcissistic CEOs
their humility.
overpay for acquisitions, take undue
may be quicker in making judgement
risks, introduce more unsuccessful new
calls, for instance, about adopting new
Humility is at risk of becoming the latest
products, and have more volatile firm
technologies.
leadership buzzword. Organisations that
performance.
Why you should stop sugar-coating all
manage to find an authentically humble
your feedback
CEO, however, may just have an edge.
High-performing
firms
are
Acting “like a CEO” If finding an authentically humble CEO
CEOs are also expected to provide
candidate
the
precise forecasts of an uncertain future.
personality profiles of people who want to
However, managers often engage in herd
is
rare,
looking
MBE BUSINESS MAGAZINE JUNE 2018
at
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49
5 Things You Didn't Know QuickBooks Self-Employed Could Do
Courtesy: MONA BUSHNELL
QuickBooks is one of the most popular
functionality almost any self-employed
self-employed people. Many freelancers,
small
worker can benefit from.
especially those who work from home,
business
accounting
softwaresolutions on the market. Intuit now
offers
accounting
eight
versions
software,
of
including
its one
specifically for self-employed workers.
miss out on opportunities to flag business Here are just a few reasons you should
expenses that straddle the line between
consider
professional and personal, like phone or
using
QuickBooks
internet service. Luckily, when you view
Self-Employed.
The SaaS solution for solopreneurs
itemized
list
of
expenses
in
months and costs $10 per month after
1. You can split individual expenses between business and personal.
that. While
Most
personal or split (you may also disregard
some
side-hustlers
and
business
accounting
software
contractors may reason that they don't
allows users to sync with bank accounts,
need QuickBooks because they don't
credit cards and payment accounts, but
have advanced accounting needs, this
QuickBooks makes the process ideal for
version
50
an
QuickBooks Self-Employed, you can
starts at just $5 a month for the first three
of
QuickBooks
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|
the
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choose to flag each item as business, them). The
split
expense
option
is
a
game-changer for freelancers because it
MBE BUSINESS MAGAZINE JUNE 2018
allows you to split expenses based on
taxes are taken out of income) as well as
that QuickBooks streamlines beautifully.
dollar amount or percentage of total
one-off jobs (where taxes are not taken
Not only can you issue invoices directly
transaction. You can also set up ongoing
out of income). Until QuickBooks adds
from QuickBooks, you can also set due
rules
that
more functionality, the best option is to
dates for those invoices and process
recurring expenses used for professional
log any deposit transactions that have
payments online. If you choose to set up
and personal purposes are automatically
already been taxed as personal income,
online bill pay, you can allow account
filtered correctly and you don't miss out
keeping in mind that the dashboard will
transfers, credit card payments or both.
on any deductions.
not show this income as part of your
Any recipients of your invoices can
business profit.
easily click directly from the invoice
for
split
transactions
so
2. It's easy to create rules based on purchases and payments.
4. The dashboard is well designed.
QuickBooks Self-Employed is easy to
The
connect to your bank account. While you
dashboard
may
email to pay you. QuickBooks does
not
Self-Employed
When an invoice is not marked as paid
look
and
like
a
the
due
date
has
passed,
of
dashboard in a $10-a-month product.
QuickBooks automatically categorizes it
transactions and flag them as business,
The clean design makes it easy to
as overdue under the main Invoices tab
personal or split, you can also create
navigate, and the main menu in the upper
as well as on the dashboard. From there,
rules for expenses and revenue. Rules
left corner of the screen allows quick
you can select the option to resend the
are typically built around client or vendor
access to Home, Transactions, Miles
invoice or follow up with the client
names, so this may not work as well for
(useful if recording mileage plays a role in
separately.
side-hustlers who get paid by personal
your self-employment), Taxes, Reports
check (you have to manually select a
and Invoices. The snapshots on the
Bottom line
category for those transactions), but for
dashboard
items
QuickBooks Self-Employed isn't a perfect
ongoing costs or revenue, it really
covered in the main menu, as well as
product, but it's close. The functionality
streamlines the accounting process. Best
Profit and Loss, Expenses, Accounts
this SaaS solution offers for just $5 to $10
of all, like in other Intuit products, you
(which
a
create rules with point-and-click menu
balances), and Estimated Taxes Due.
review
an
itemized
list
include
shows
the
banking
same
and
credit
month
(Intuit
offers
50
percent
discounted rates for the first three months of usage for each product)
selection, zero coding required. If you can order pizza online, you can set up
When you log in to the dashboard,
makes it a no-brainer buy for freelancers
rules in QuickBooks Self-Employed – it's
there's also a to-do list for anything
and side-hustlers who want to take their
that easy.
pending, which might include checking
business organization to the next level.
recent transactions or filling in additional
For TurboTax users, there's the added
tax information. Since QuickBooks is an
benefit of making the tax prep process
Intuit product, it's easy to sync with
faster, and the ability to predict the taxes
TurboTax, and a lot can be accomplished
you owe automatically saves major time
in tax prep directly through QuickBooks.
and stress.
3. It automatically predicts taxes owed. One of the biggest stressors freelancers face is calculating taxes. When a deposit transaction
is
flagged
as
business,
QuickBooks Self-Employed automatically predicts the taxes owed, which you can view on the dynamic dashboard at any
The dashboard even has a time-sensitive Tax Checklist so you're never stuck paying an accountant to input your taxes for you at the last minute.
time. This saves a lot of time spent predicting taxes on your own and makes
a deposit transaction as business if the
5. You can send invoices and process payments online.
taxes have already been taken out, or it
Tracking the
will throw off your predicted taxes. In
payment progress
other words, if you flag something as a
of different
business deposit, QuickBooks assumes
invoices is a
no taxes have been paid. This is
necessary but
unfortunate, since many freelancers work
unexciting aspect
part-time or even full-time jobs (where
of freelance life
it much easier to plan for payment. The only downside to QuickBooks' take on predicting taxes is that you cannot flag
MBE BUSINESS MAGAZINE JUNE 2018
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53
Best Podcasts For Learning A Language grammatical rules at the expense of
4. Coffee Break Languages
practical understanding.
An enormous advantage of podcasts as a learning tool is their flexibility. Not only
2. News in Slow
Thanks
to
podcasts,
there's
an
can you choose your area of focus and
There's a difference between written and
take your learning wherever you go, but
spoken language. When you're trying to
you set the pace, fitting in your studies
get a handle on how people actually
whenever
speak, it helps to hear a language in
podcasts, you can use the idle parts of
context
your day to your advantage. Radio Lingua's Coffee Break series lives up to
learning
on
keep up with programming aimed at
its title, providing lessons in Spanish,
language
native or fluent speakers. The News in
French, German, Italian and Chinese that
education dates back to the days of
Slow
French,
last as long as a cup of coffee (or a
cassette tapes, there are far fewer
Spanish, Italian and German, provides a
similarly short chunk of free time).
obstacles
and
solution. The show takes brief excerpts
Though the name and format may
distribution of podcasts. Whether your
from news broadcasts in other languages
suggest
goal is to become fluent in a language or
and slows them down. Alongside these
vocabulary and phrases, the lessons are
learn just enough to impress your
clips, it provides transcripts that highlight
actually designed to help listeners work
international clients, there's probably a
important vocabulary so you can follow
toward
language-learning podcast that suits
along and absorb.
(though advanced lessons are currently
While
to
available
audio
the
production
series,
beyond
Through
traditional
language,
go
convenient.
lessons. However, it can be difficult to
a
and
it's
unprecedented variety of resources for demand.
available
in
your needs. They're not limited to major
a
limited
fluency,
focus
however
on
basic
gradually
only available in Spanish and French).
world languages, and the formats go
3. SurvivalPhrases.com
beyond digitized versions of traditional
You've probably seen a movie or TV
language courses. Here are some of the
5. The Fluent Show
show
character,
best language-learning podcasts.
The Fluent Show describes itself as "a
traveling in a country with an unfamiliar
podcast all about loving, living and
language, frantically searches through a
learning languages." Though the show
phrasebook for the right thing to say, only
doesn't focus on teaching a specific
to mangle the pronunciation (often with
language, it's perfect for getting you in
humiliating
aside,
the spirit of language learning. There's a
adopters of the podcast format. It offers
sometimes you're traveling and need a
particular emphasis on helping listeners
libraries of short, fun lessons in more
few key phrases at your disposal. Thanks
get through the sorts of challenges that
than 40 languages, providing options that
to
arise when learning a new language,
are accessible for beginners as well as
Language
more advanced students. The lessons
looking (or sounding) like that character
educational tools. The hosts and their
focus on functional everyday speech,
and even ditch the phrasebook entirely.
expert guests offer plenty of helpful,
facilitating an intuitive understanding of a
As the name implies, you can learn the
widely
language, similar to the way native
essentials you need to get by in 27
enthusiasm is infectious. Recent topics
speakers
1. Innovative Language Pod101 Established Language
in was
learn
2005, one
and
Innovative
of
the
hapless
results).
Phrases, property,
Comedy
an you
Innovative can
avoid
even
with
access
applicable
to
all
advice,
the
and
right
their
different languages, including Arabic,
include learning multiple languages at
Cantonese, Hindi, Japanese, Russian
once,
alternative
and Turkish.
communities,
which
outdated often
W W W. M B E F O RYO U. C O M
their
Survival
a
own
to
use
earliest
where
languages. This approach is a refreshing textbooks,
54
Courtesy: ETHAN SPIELMAN
language emphasize
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finding and
language-learning moving
past
intermediate plateau.
MBE BUSINESS MAGAZINE JUNE 2018
the
Four Ways Canada Can Own The Artificial Intelligence Century
Courtesy: DANIELLE GOLDFARB & CANDICE FAKTOR
Much of the foundational research into artificial intelligence originated in Canada, but we’ll have to work to stay a leader in the field
In January 2018, both Microsoft’s and
developing cutting edge AI, blockchain,
technologies.
Alibaba’s deep-learning software did
and quantum computing technologies
leading-edge domestic and international
better than humans on reading and
and quickly becoming a leading hub for
AI policies, leveraging its position as a
comprehension tests, opening the door
scientific talent. New institutions are
respected promoter of rules, stability and
to artificial intelligence–based customer
supporting them, such as the Vector
openness. By being at the global table,
service, medical diagnoses, and many
Institute, the Creative Destruction Lab,
Canada has a chance to advance AI
other
and
and Canada.ai. Canadian-grown startups
policies that improve living standards,
investments in AI have exploded globally
are tapping into global opportunities in
promote inclusivity, and advocate for
in the past year and this is just one
the U.S. and Europe, as well as those in
transparent data collection and unbiased
example.
developing markets that are investing
algorithms.
applications.
Research
Canada
can
advance
hugely in AI—such as China. Canadian Canada is at the forefront of these
AI companies are already gaining from
developments.
selling into these markets.
Canada
pioneered
research in neural networks and has the world’s third largest AI talent pool,
2. Address fears head-on
according to consultancy Element AI.
Studies
show
that
AI
4. Welcome people, ideas, capital, and trade As the U.S. threatens to turn increasingly inwards,
and
new
Canada
is
open
to
entrepreneurs, individuals, technologies,
technologies will lead to job losses,
and
The pace of AI development is fast. And,
though no analysis agrees on how
borders. Canada has a window to attract
the global potential is huge and growing
widespread these will be. What is clear is
talent,
rapidly, estimated at $US2.4 billion in
that the phenomenal pace of change will
investment across a range of AI verticals.
2017, close to double what it was in 2016.
be very disruptive and the benefits of
Now is the time for Canada to advance its
these
not
Canada has a unique opportunity to
AI technologies and businesses in global
automatically be shared broadly. Rather
leverage its AI moment globally to shape
markets.
than
AI’s future.
new
technologies
protecting
technological
will
Canadians
change,
from
investments companies
from and
outside and
our
foreign
governments,
Canada is a relatively small, open
businesses,
economy with social and economic
actively
stability.
its
industries to learn how to leverage
Candice Faktor runs Faktory Ventures, a
foundational AI research to lead the
technology’s benefits rather than fear
seed
development of AI best practises that
them.
exponential technologies like AI and the
advance economic and social interests.
approach putting in place policies that do
Canada
can
build
on
and
prepare
Sweden
educators citizens
has
should
across
adopted
all
one
Danielle Goldfarb is a Senior Fellow at The
Conference stage
Board
microfund
of
Canada.
investing
in
blockchain.
not protect certain types of jobs, but Here are four ways Canada can continue
instead protect and invest in workers to
to advance responsible AI development:
leverage these technologies.
1. Develop locally, think globally mainly
3. Shape the rules for the global AI economy
and
China has ambitious plans to be the
manufactured goods is out of date.
world’s AI leader by 2030 and the U.S.
Canada
and Russia have also embraced these
The
image
producing
of
Canada
as
commodities is
actively
attracting
MBE BUSINESS MAGAZINE JUNE 2018
and
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55
Great Jobs For Introverts Jobs for introverts
Courtesy: SAMMI CARAMELA
doing so. This industry is good for
others to see things from all angles. As a
independent, imaginative individuals who
photographer,
are willing to share their craft.
independently or for a larger corporation
you
can
work
– e.g., as a freelance photographer or
Forensic science technician
real estate photojournalist.
Conservation scientist and forester
Introverts
are
often
hardworking,
passionate individuals with a need for space and downtime. They tend to put their heart and energy into everything, but sometimes this leaves them feeling
Many
drained – especially in the business
detectives
world. However, there is a job for every
open-mindedness and attention to detail.
As a conservation scientist or forester,
personality. Focus on finding a position
Being a forensic science technician is a
you get to spend your workday in the
that best suits your wants and needs as a
great idea if you prefer working behind
peace
worker. If you lean toward introversion,
the scenes. Forensic science technicians
managing forests, parks, rangelands and
here are 16 potential jobs for you.
collect and analyze evidence, often in a
more. With just a bachelor's degree, you
laboratory setting
can work for government or privately
Craft and fine artist
introverts
would
because
make
great
of
their
and
quiet
of
the
outdoors,
owned lands, where your customers are
Photographer
vegetation rather than humans.
Author
If you have a creative eye and artistic
56
talent, consider becoming a craft and fine
Introverts often view the world differently
artist. You can make pottery, glassware,
from others. Their unique perspective can
textiles and more and earn a profit while
make for great photography, allowing
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Introverts tend to crave solitude and
MBE BUSINESS MAGAZINE JUNE 2018
quiet, meaning they seek opportunities to
Film and video editor
They present their work in reports for
be alone with their thoughts. This bodes
politicians, who rely on political scientists
well for authors, whose imaginations are
to help them make important decisions.
their gateways to success. Channel those
The BLS states that median pay is nearly
thoughts to create a unique story that you
$100,000 per year, but it requires a
can either publish traditionally (through
master's degree or Ph.D.
an
agent
and/or
publisher)
or
Paralegal
self-publish.
Airline and commercial pilot
After the chaos of filming a production, someone has to edit the content. It's sometimes considered the "dirty work" of the film industry, but for people who prefer to work at their own pace, it's the perfect job. You get the raw footage and can put your creative touches on the piece, often in the comfort of your own
A paralegal or legal assistant typically
office or room
works for a law firm or corporate legal department. Unlike lawyers, paralegals
As a pilot, you are entirely in control. You
Political scientist
work to maintain and organize files,
get to see new, exotic places and travel
conduct
during off hours, meeting new people
documents. An associate's degree or
while also having time alone. All you
certificate
need to get started as a commercial pilot
preferred, but you may be able to get
is
hired without prior legal experience if you
a
high
school
diploma
and
moderate-term on-the-job training, along
legal in
research, paralegal
and
draft
studies
is
hold a bachelor's degree
with a commercial pilot's license from the Federal Aviation Administration. To be an airline pilot, you need a bachelor's degree and the Airline Transport Pilot certificate. The median pay for pilots is $105,720 per year.
Political
scientists
conduct
much
independent research and analysis on government policies and political trends.
6055 Steeles Ave E, Sacarborough, ON, M1X 0A7 PH: (647) 947-2864
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57
Monthly Horoscope 2018 Gemini (May 21 - June 20)
what you need in order to get better. This
marriage,
General: Overall, the beginning of the year
may be because over the fall, you end up
partnership that will continue to blossom
promises some struggles. You have some
in
in the New Year.
cleaning up to do in your personal life
because you refused to look at your
before you can work on other things.
issues head on. However, once that
Money: The first part of the year has you
You'd rather not focus on this stuff; you'd
passes, you have a renewed motivation
focused on your joint resources. You may
rather see yourself as above all the
to heal yourself.
be stuck in the past, thinking and
a
bad
way
somehow,
probably
or
some
other
type
of
rethinking about the money you had and
drama that being human beings. The truth is that you're very much in it, and
Love: If you're in a committed relationship,
lost, especially if you feel cheated by an
that you will have to deal with the
it may be tested in the early part of this
old lover or business partner. Check your
stickiness
and
year. Hardships and power struggles may
credit
interpersonal problems in the early part
be a key feature and while it isn't certain
understand everything before you sign
of the year before you can consider
to break up the relationship, it may come
any contracts. The money you will make
yourself an enlightened being.
out with a few scars. This may be the time
is going to come from your own hard
where you realize how much work needs
work, and there is no getting around it in
Mid-spring to the end of summer brings
to be done on this relationship, and
the early part of the year.
you to the end of a journey where you no
decide whether or not you want to keep
longer feel like a victim, and therefore no
going and work at it or call it a night and
Through spring and summer, you're
longer need to hide from everyone else.
part ways.
vulnerable to being tricked out of your
of
relationships
score
and
make
sure
you
money, so hold tight. Don't let anyone
Sure, you still want to exist on another plane, but you don't feel as vulnerable
The spring eases up, but you may take a
guilt you out of it. It's tempting to want to
when out in the world. You can be part of
break from love to recover. Of course,
save someone else by buying them out of
it again. You can trust yourself to make
you
or
their troubles, but this will only make
decent financial decisions. You may have
attracting
are
things worse. It's best to hold onto what
a hard time controlling your appetite, but
noticing you. This may be a little
you have and wait. This isn't the time to
most other things should be in control.
overwhelming. Of course, the opposite
get financially involved with anyone else,
may be true, and you could very well end
even if it seems like a good idea, even if
Autumn and winter see you focusing
up chasing ill-conceived romances and
they lay the guilt on extra thickly.
more on what you personally need to feel
trying to date people who are all wrong
secure. You have to take steps to learn
for you. Whatever you do, don't give any
Money may be an issue in the fall and
how to take care of yourself better. You
of these people money. Don't loan it to
winter, in that you might not have enough
find a voice and courage to let people
them, don't let them rely on you
because someone else needs it. Illness,
know where and how you're hurting and
financially.
accidents, or the like may eat up a chunk
don't
realize
you're
attention,
but
flirting others
of your savings or funds. Your family Over
58
W W W. M B E F O RYO U. C O M
|
close
members may be affected, too. However,
relationships you have may be a labor of
fall
and
necessity is the mother of invention, and
love. You're prone to letting others take
you figure out a way to make more
advantage of you. Yes, you do want to
money that just might turn into a lucrative
show people that you love them, but you
side gig during the winter and during
need not be their doormat to do so. As fall
2019. This gig may be completely
turns into winter, you'll start getting back
unrelated to what you do for a living now,
what you've given. It's possible that
but something you've always wanted to
winter brings you a new love, romance,
do or put out in the world.
W W W. FAC E B O O K . C O M / M B E F O RYO U 7
winter,
any
MBE BUSINESS MAGAZINE JUNE 2018
have to get through this. If you do, your
Cancer (June 21 - July 22)
relationship will change, but for the
General: The first part of the year has you
better, no matter what happens to it.
a little on a cloud. It's not all roses. In fact, you may stick your head in the sand and
Things ease up as April turns into May,
let a lot of things go while waiting for
but it's not all smooth sailing. At the very
hings to resolve themselves. They won't.
least, any explosive fighting or drama is
And there's no guarantee that someone
petering out while other, perhaps worse
else is going to fix them for you. You bring
things occur, like the silent treatment. It's
the party, and they may help you out in
possible that when nothing is wrong at
return, but giving up control to someone
all, you and your love are forced to be
else means that you'll be kept in the dark.
apart because of circumstances beyond
dream for a better future.
your control or because temporary
And during the spring, there's either
By mid-spring and on through the
separation is better for your security and
more money or more opportunity to make
summer, you're focused on taking care of
stability in the long run. For example, one
money if you've been diligent at work and
you. This may be a time where you can't
of you may have to take a job far away, or
if you're willing to market yourself. You
rely on others to help you, or where you
one or both of you simply has to work
can put yourself out there and promote
actually don't want other people to guide
more than usual.
yourself properly, most of the time. Be careful not to grossly overestimate your
you. You may either be very generous or very stingy, but probably generous. You
Love gets easier through the fall and
value in early summer: no one likes a
want to convince yourself that you're
winter, though your closest relationships
braggart or a person who can talk the talk
doing well, and the way you do that is by
are still tested. Some of them may end by
but can't walk the walk. You will have to
trying to convince other people that
now if they're not strong. However, the
put your money where your mouth is this
you're in a good financial position to buy
ones that are meant to last will come
summer.
them gifts or entertain them.
through this well, though not the same. It's going to be your job to infuse the
In autumn and winter, you get a chance
As fall turns into winter you're going to
romance and the fun back into the
to make money based on whatever you
start focusing more on your own personal
relationship, even if everything feels like a
established over summer. By this point,
expression. Your bodily and material
chore, and even if you feel ignored and
you should have the skills, the network,
needs should be taken care of. From
underappreciated.
and the security to know that you can do what it takes to keep generating an
winter on through much of 2019, you're going to be about being you, no matter
Money: Make sure that whomever you
income. As you get closer to the end of
what that means. This is a time of
share
and
the year, you'll want to celebrate, partially
self-discovery, and you may try new
whomever you owe money has an
to relieve the tension elsewhere in your
things to figure out who you are now and
accurate idea of how much you have and
life. However, you don't have to worry
what you want. It seems as if you have a
how much you owe. Your partner or your
about putting yourself in debt, since
lot of choices - at you think you do - and
creditor may demand too much, hide
you're not likely to go over your limits.
you may stumble on the way, but you're
money,
not going to get hurt badly. You may not
that you have more
even feel it at all.
disposable income
a
bank
or
account
with,
think
than you actually Love: If you're in a close relationship, the
have. Be honest up
first quarter of the year may test you. It
front, even if it
doesn't necessarily mean you'll fight and
causes a fight. By
break up, but in order to keep the
springtime,
relationship from being ruined, you will
should be able to
both have to rethink and reassess what
come
you want from each other and learn
understanding that
different roles. Otherwise, there will be
allows
power struggles and withdrawing. You
follow your shared
MBE BUSINESS MAGAZINE JUNE 2018
to you
you an to
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WHERE BENEFITS MEET REWARD
61
Startup Costs: How Much Cash Will You Need?
Courtesy: SAMMI CARAMELA willing to pay for it, McCahon said.
If
the
test
seems
successful, then you can start planning your business based on what you learned.
2. Estimate your costs. According to the U.S. Small Business
Administration,
most microbusinesses cost around $3,000, while most home-based franchises cost $2,000 to $5,000 to start. While every type of business has its own financing needs, experts have some tips to help you figure out how much cash
you'll
require.
Entrepreneur Drew Gerber, who started Starting a business is an exciting venture.
much money too quickly. At the very
a technology company, a publicity firm
You get to channel your talents and
beginning, it's smart to keep an open
and
ingenuity to create an organization you
mind and prepare for issues that may
estimates that an entrepreneur will need
believe in. But the process isn't simple. It
arise, experts say.
six months' worth of fixed costs on hand
requires time, dedication and – you guessed it – money.
a
financial
planning
company,
at startup. Cynthia McCahon, founder and CEO of business plan software company Enloop,
"Have a plan to cover your expenses in
If you're thinking about launching a new
said business owners should start with a
the first month," he said. "Identify your
business, you may not know where to
bit of healthy skepticism.
customers before you open the door so
start with your finances. However, if you
you can have a way to start covering
are organized and thorough, you can
A prospective business owner should
plan out your financing and keep your
start planning a small business by simply
startup budget on track. Here's how to
understanding
figure out how much you'll need to launch
business idea," said McCahon. "What
underestimate
your business and the best ways to get
this means is not assuming your idea will
remember that they can rise as the
funding.
be successful."
business grows, Gerber said. It's easy to
1. Start small.
The best approach is to test your idea in
about the big picture, but you should be
You most likely have high expectations
a small, inexpensive way that gives you a
more precise when planning for your
for
blind
good indication of whether customers
fixed expenses, he added.
optimism may cause you to invest too
need your product and how much they're
the
potential
of
the
those expenses." When
planning
your the
costs,
don't
expenses,
and
overlook costs when you're thinking
62
your
company.
However,
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MBE BUSINESS MAGAZINE JUNE 2018
Indeed,
underestimating
costs
can
decimate your company, McCahon said.
C. Fixed vs. variable costs:
Fixed
friends, bank and government loans, and
expenses, such as rent, are consistent
grants are just a few of the many potential
from month to month, whereas variable
funding sources. Many companies use a
"One of the main reasons most small
expenses depend on the direct sale of
combination of sources.
businesses fail is that they simply run out
products or services. Shinar noted that
of cash," she said. "Writing a business
fixed costs may eat up a high percentage
According to Herndon Davis, mortgage
plan without basing your forecasts on
of revenue in the early days, but as you
loan officer and real estate agent at
reality often leads to an unfortunate, and
scale up, their relative burden becomes
Mortgage Real Estate Services, most
often
negligible.
startups are self-funded. However, there
unnecessary,
business
failure.
Without the benefit of experience or actual historical financials, it's easy to overestimate a new company's revenue and underestimate costs."
are other options.
3. Project your cash ow. Another important aspect of a startup's financial planning is to project the
Understand what types of costs you'll have. The SBA states that there are various types of expenses to consider when starting your business. It's important to differentiate these types of costs to properly manage your business's cash flow for the short and long term, said Eyal Shinar, CEO of Fundbox, a cash flow management company. Here are a few types of costs for new business owners to consider.
business's
cash
flow.
Bill
Brigham,
director of the New York State Small Business Development Center in Albany, New York, advised new business owners to project their cash flows for at least the first three months of the business's life. He said to add up not only fixed costs but also the estimated costs of goods and best- and worst-case revenues. If you borrow money, make sure you know not only how much you borrowed said. Calculating these costs puts a floor on the revenues needed to keep the
One-time expenses will be relevant
business viable and provides a good
mostly in the startup process, such as the
picture of the cash necessary to start it
expenses for incorporating a company. If
up.
equipment
purchase,
your
money going out will likely be greater
lines of credit through piggybacking scenarios," Davis said. "There's also small business loans and angel investors willing to step in at certain stages. At this point,
your
established
startup
should
client/customers,
show growth
since inception, a unique positioning in the marketplace, and a clear business plan on how to grow with the additional
Deborah
Sweeney,
MyCorporation,
CEO
added
of that
bootstrapping, grants or venture capital from a VC firm are great options for startups. One place to go for help is SCORE, which advises small business owners.
there's a month when you must make a one-time
establishing business credit and different
funding."
but also the interest you owe, Brigham
A. One-time vs. ongoing costs:
"Additional funding can come through
Gerber
recommended
starting
a
business without borrowing at all, if
Formerly known as the Service Corps of Retired
Executives,
this
volunteer
organization partners with the SBA and
than the money coming in, Shinar said.
possible. Borrowing puts a lot of pressure
This means your cash flow will be
on any business and its owners, he said,
disrupted that month, and you will need
as it leaves less room for error.
entrepreneurs. Most importantly, SCORE
Ongoing costs, by contrast, are paid on a
Once you get your business going, use
been in the business you might want to
regular basis and include expenses such
QuickBooks or FreshBooks, which can
as utilities. These generally do not
connect directly to a bank account, to
fluctuate as much from month to month.
track expenses throughout each month
offers counseling from people who have
to make up for it the following month.
B. Essential vs. optional costs:
offers training and workshops for aspiring
be in and know the specific issues you're likely to encounter.
and during tax season, Shinar advised.
Essential costs are expenses that are absolutely necessary for the company's growth
and
development.
Optional
purchases should be made only if the budget allows. "If you have an optional and nonurgent cost, it may be best to wait until you have enough cash reserves for that purchase," Shinar said.
4. Figure methods.
out
your
ďŹ nancing
Once you've determined your costs and cash flow projections, you'll need to consider how to pursue financing. How you obtain funds will affect the future of your
business
for
years
to
come.
Personal savings, loans from family and
MBE BUSINESS MAGAZINE JUNE 2018
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63
How To Move On When Your Business Fails
Courtesy: PAULA FERNANDES
simple lesson offered by many who have
side with founders whose companies
weathered closing a business, but one
have failed.
that is hard to grasp right after shutting down your operations.
"There is no reason to believe that because your most recent venture didn't
"Accepting failure is, in and of itself,
end the way you envisioned it your next
tough, and sometimes it's easier to be in
brilliant idea won't be the one that propels
denial than accept that the venture you
you to success," added Ellis.
put your heart, soul, blood, and sweat If you are an entrepreneur, you need to
into will not come to fruition," said Nitin
Evaluate what went wrong
get comfortable with failure. There's a
Seth, CEO of Incedo, who faced his own
After taking some time to grieve, do a
good chance that it's going to happen to
business failure early in his career when
post-mortem of your business. "It's
you.
he had to shut down his health and
actually cathartic to think through what
lifestyle internet company.
happened. There are so many lessons to
In fact, about 20 percent of small
learn," said Tom Scarda, a speaker,
businesses don't make it past their first
However, Seth recommends moving
franchise expert, and author who has
year. Nearly 50 percent won't be around
forward by finding comfort in your family
owned both a highly profitable business
to celebrate their five-year anniversary.
and friends, refusing to define yourself
and one that failed.
Only one-third of establishments are still
solely by your work, and rediscovering
open for business after 10 years. While
the other aspects of your life you may
It's necessary to be brutally honest with
these sobering statistics, may prepare
have neglected. "There should be other
yourself and take responsibility for your
business owners for the likelihood their
interests in your life [that] anchor you,"
actions and choices while analyzing what
business may fail, they don't equip SMB
said Seth. "It could be sports, your family
happened
owners once that probability becomes a
or
documenting both the successes and
reality.
passionately."
Closing a business is not the end of your
Though it's hard to acknowledge it at the
story. Finding ways to deal with closing a
time,
business without being defined by it is the
Band-Aid in one quick motion, there are
Once you know exactly what went wrong,
only way to move forward and start anew.
benefits to failing fast. One way of looking
give yourself permission to let go and
Here are a few practical tips from
at it is that it's better to get it over with
move on. "Learn from the setback, drop
entrepreneurs and business experts who
quickly so you can reduce potential
the
know a thing or two about rising from the
losses and move on to your next venture.
concluded Seth. After conducting a
a
cause
that
you
believe
in
to
your
business
and
mistakes. "If you make excuses, that only stops the learning and prolongs the
somewhat
like
ripping
off
a
ashes.
baggage
and
move
forward,"
thorough assessment, incorporate the "[We] want our founders to fail fast. This
lessons you learned into the next chapter
Practice acceptance and self-care
may sound counterintuitive, but our
of your life.
Failure happens even to the best of us,
rationale
so don't be too hard on yourself. Your
innovators who will continue to create,"
Figure out your ďŹ nances
healing process starts with taking the
said
Karen Ellis, who, as director of
Money is often a sensitive topic even in
time
and
economic development for the St. Louis
the best of situations, but when creditors
your
Regional Chamber, supports startup
are calling and you don't know where
business as part of your identity. This is a
organizations and has walked side by
your next paycheck will come from,
to
mourn
rediscovering
64
pain," said Scarda.
your
yourself
W W W. M B E F O RYO U. C O M
losses without
|
is
that
W W W. FAC E B O O K . C O M / M B E F O RYO U 7
entrepreneurs
are
MBE BUSINESS MAGAZINE JUNE 2018
money may be the only thing on your
Build a support network
mind.
Surrounding yourself with people who
operating in a vacuum," said Rivers.
genuinely care about your well-being is
"You'll find yourself on the losing end of
Entrepreneurs who have been down this
crucial for getting back on your feet and
the spectrum if you try to go it alone.
road recommend reaching out to your
moving on. "Appreciate the value of
Starting over, I made sure to connect with
professional and personal networks to
relationships and build them when you
other
need them the least," said Seth.
professional organization," added Rivers.
According to Seth, friends and family,
Reinvent yourself
find a job. Working for someone else for
entrepreneurs
[and]
joined
a
a while before jumping into your next business venture has its benefits.
who can provide support, offer unbiased
When you are ready to enter the next
Once you have a steady gig, you will be
advice, root for your success, and offer
chapter of your life, create a roadmap of
able to earn an income, pay down debt
honest feedback, keep you grounded in
how you'd like it to look, and set
and buy yourself some time to figure out
the face of adversity. "I cannot imagine a
measurable goals and a timeframe for
your next move. In some instances, what
better antidote to setbacks," added Seth.
meeting them.
Just as a tight circle of friends and family
For some, starting over may mean
starts off as a way to make ends meet may lead you to your next big idea.
helps center your personal life, a solid
re-entering the workforce in a familiar
This was the case for Mike Sims who
network of business resources, mentors
industry, while others will pursue an
created a social media app for musicians
and fellow entrepreneurs can help get
entirely new profession. But for those
that never got off the ground. However,
your professional life back on track when
who can't shake the entrepreneurial bug,
Sims built an entirely new business as a
you are ready to start again. Ellis
it may involve starting a new business.
result of the work he took on after that
recommends joining a co-working group
initial failure. "I needed more funds just to
or a networking organization as well as
For these individuals, Sims recommends
survive after my venture ended, so I
tapping into national organizations such
learning from past mistakes before
started promoting myself as a business
as
Business
jumping into a new business. "Take the
plan writer on freelance sites," recalled
Administration, the National Association
time to learn and to build up knowledge in
Sims.
of Women Business Owners and others.
the areas that led to your venture's
"Six months later, I was the top business
Ellis said, "Once you begin thinking and
same mistake twice, and use your past
planner on one of the largest freelance
surrounding
experience to propel your future."
sites ... I soon realized that I had
entrepreneurs, the sky is the limit. The
accidentally uncovered a unique problem
resources you need will find you; that's
Similarly, Rivers advises doing your
for app entrepreneurs, and I had the
just how it works." She added, "Don't
homework before launching a new
ability to solve it," said Sims.
forget to leverage your state and local
endeavor. Recalling her own experience,
SCORE,
the
Small
failure,' said Sims. "Avoid making the yourself
with
other
economic developers who are more than
Rivers stated, "Starting over meant that I
As a result, Sims launched ThinkLions,
willing to look at your business and
had to take a hard look at the market,
which helps entrepreneurs bring their
troubleshoot barriers as well as help
determine what would work best for me,
app ideas to life. "While my original idea
scale your business once it's off the
and then create a more in-depth plan of
app didn't work, I have now helped
ground."
action
dozens of app entrepreneurs build, find
that
included
revenue
and
profitability projections."
funding for and launch their mobile apps,"
Keisha A. Rivers, founder and chief
said Sims.
outcome facilitator of The KARS Group,
Scarda reminds entrepreneurs to not be
acknowledges that her first business
held back by fear: "Your time is limited in
"From my experience, I learned that
venture failed due in part to her lack of
regard
failure is only a matter of perception.
connection to key professional resources.
yourself and possibly creating a great
Where one person finds a failed venture,
"Having a support system of other
business that can help the world, or at
an entrepreneur with the right mindset
entrepreneurs
least provide a few local jobs to people
can find a valuable pivot or a new
successful ventures and finding a mentor
who
opportunity," added Sims.
would have possibly prevented a lot of
"Remember, you will regret the things
the issues that I created, because I was
you didn't do, not the things you did."
MBE BUSINESS MAGAZINE JUNE 2018
who
have
grown
W W W. M B E F O RYO U. C O M
|
to
need
creating
them,"
experiences
said
for
Scarda.
W W W. FAC E B O O K . C O M / M B E F O RYO U 7
65
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CROSSWORD PUZZLE
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ACROSS 01) Urban fleet 05) Whip 09) Subs 11) Computer key 13) Deal marker 14) Absinthe flavoring 15) Porpoise’s place 16) Personal property 18) Move to the side 20) Colorful carp 21) “Sepertae Tanle” star 22) Sibelius, for one 23) Homer’s neighbor 24) Coal holder 25) Hangs down 27) Chest contents 29) Strike caller 30) Sawbuck 32) Earth science 34) Flamenco cry 35) UFO flier 36) Korean or Thai 38) Free of suds 39) The time being 40) Bar assn. members 41) Proofing mark
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DOWN 01) Deep gorge 02) Sea off Greece 03) Critical moment 04) Heir , often 05) Like an arbor 06) One of the Brontes 07) Cause of an impasse 08) “El Cid” star 10) Blotto 12) Pine product 17) Summer cooler 19) Times for preparation 22) Fish features 24) Lumberjack of lore 25) Bakery need 26) Henry Fielding book 27) Table part 28) Comfor 30) Sounds 31) Principle 33) For fear that 37) Sinking signal
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ACROSS 1 Slant 5 Workout target 9 Cuban dance 10 Romantic sort 12 Wrench type 13 In reserve 14 Hockey practice 16 Alias Letters 17 Place 18 Inge play 20 Made like a geyser 22 Chick tender 23 Wonderland visitor 25 Reach Across 28 Was Generous 32 Chewy 34 Memorable time 35 Pot brew 36 Lot Choice 38 Raring to go 40 Make sports of 41 Mixes up 42 Really stocked 43 Ticked off 44 “Bonanza” son
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DOWN 1 Build body mass 2 White Rabbit cry 3 Aid illegaly 4 Florida’s -- Island 5 Promotes Aggresively 6 Horror star Chaney 7 Fly high 8 Call over 9 Coarse files 11 Gathers 15 Nature lovers 19 Citi Field’s forerunner 21 Dwindle 24 Fatest mammal 25 Fill up 26 Skirt feature 27 Slow passage 29 Summaries 30 Clears 31 Was bold 33 Clinic worker 37 Brand Sample 39 Mis-calculate
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How Canada’s Best Managed Companies Focus Relentlessly On The Future
Courtesy: DAVID BROWN
Klick’s SymPulse allows its wearer to feel a patient’s Parkinson’s tremors first-hand. (Jaime Hogge) Last
spring, Toronto-based
privately
owned
marketing
Klick,
a
agency
focused on the health care industry, unveiled a wearable device that digitizes the tremors of someone suffering from Parkinson’s disease then recreates them for someone else to feel first-hand.
Canada’s Best Managed Companies 2018
for the future than its competition.
The idea for the device, called SymPulse,
Klick’s business model involves charging
For
arose from concerns about the very real
clients for creative and, increasingly,
committing time and resources in such a
problem of empathy deficits in health
technology-based
their
fashion might seem like a luxury. After all,
care settings. “They say you can’t feel
business problems, but SymPulse wasn’t
just 55 per cent of businesses that
someone else’s pain, and maybe now
developed
pure
existed five years ago are still alive today.
you can,” says Leerom Segal, Klick’s
innovation. “That is something we think
That pursuit of innovation is precisely the
CEO.
between
will have commercial utility in the future,”
kind of behaviour that is a marker for
someone telling you what they are feeling
says Segal. “But we’re not building it with
long-term success, as measured by
and actually having this on your arm and
that in mind.”
revenue growth, going public or being
“It’s
the
difference
for
solutions a
client:
to it’s
trying to drink a cup of water or trying to
Canadian
businesses,
acquired and rolled up into something
tie your shoelaces,” he says. If health
SymPulse was developed in Klick’s
care
larger.
their
special Labs unit, which focuses on ideas
patients are going through, he says, the
first and revenue later. It’s a structural
Change is hard, and innovation is even
context
manifestation of the management team’s
harder. But without it, businesses risk
desire for the company to be more ready
falling behind at best and, more likely,
professionals of
care
feel
what
and
treatment
assessments should be very different.
68
many
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MBE BUSINESS MAGAZINE JUNE 2018
no means finished yet when it comes to
private businesses make today have an
pure and natural ingredients,” said Susan
impact—not
Senecal, A&W’s CEO. The challenge with
organizations, but on the future of our
innovation, she says, is that a lot of
country,” Deloitte researchers concluded
businesses will brainstorm big ideas but
in a report summarizing their findings.
they don’t commit the time or the people
Well-run businesses make larger positive
to make it happen. “If you don’t resource
contributions in multiple ways, producing
that properly . . . then the brainstorming
more jobs, more stability, higher tax
doesn’t ever really land.”
revenues—rising tides, rising boats and
only
on
their
own
all that. Each
of
these
businesses
number
death. The world is changing too fast and
among the ranks of Deloitte’s Best
Any CEO can recite some version of “our
the business climate is getting more and
Managed private companies in Canada.
employees
more competitive—to stand still is to fall
The list recognizes private businesses
resource . . . ” but what emerges over and
behind
disappear,
with revenue over $15 million. For years,
over again from the Best Managed
services
the list has stood for excellence in
firms—the
Canadian management, but this year the
successful—is just how determined and
team at Deloitte decided to try to prove it.
dedicated they are to investing in their
The good news is that not all innovation
They looked back at the entire list of all
employees and treating them like they
has to come from a lab or be rooted in
1,000
are truly valued.
groundbreaking technology. Mr. Lube
awarded Best Managed status in the 25
claims to have invented the quick lube
years of its existence and compared their
At Halifax-based Maritime Travel, the
industry in Edmonton in 1976. But lately
performance
company operates under the motto
the company has expanded into the tire
businesses.
and
according
to
inevitably professional
consultant firm Deloitte.
business—changes,
rotation,
businesses
to
that
have
average
been
Canadian
our
firms
most
that
important
are
more
“faster, easier, better,” says president
storage,
repair and snow tires.
are
Gary Gaudry. “Everything we do is based The numbers are striking. Just five per
on making things faster, easier and better
cent of companies that have won a Best
for our staff,” he said.
How to find and keep talent like the Best Managed Companies do
Managed award have gone out of business, compared to an estimated 72
“We want them to spend as much time
“We do same-day service,” says CEO
per cent of average Canadian firms in a
with the customer and selling, and we
Stuart Suls. That’s a big deal, especially
comparable period of time. More than a
don’t want them to get bogged down in
in eastern Canada when the first snowfall
third (34 per cent) of the top firms have
processes,” he says. The tool to do that is
triggers a mad rush to dealers, and long
been acquired, about 30 times the
an internally developed system they call
waits to have the all-seasons replaced.
average, and 3.4 per cent have gone
Sales Desk, which automates accounting
“We have radically changed the entire tire
public compared to less than one per
systems information inputs. It has been in
industry.”
cent of average Canadian businesses.
place since 2004, but is constantly being
At Rocky Mountaineer, staff suggested
Deloitte contends that identifying the
that to avoid long early-morning check-in
management behaviours, strategies and
A couple of years ago, Maritime also
lines at the train station, they could swing
philosophies
private
introduced a monthly best practices
by hotels the night before to check in
business
have
dashboard. It’s not about comparing
those travellers who’d already arrived in
far-reaching ramifications. The Canadian
sales results but reminding staff of the
town. “Some stuff just comes down to
economy
actions that drive results, says Gaudry.
day-to-day jobs, encouraging people to
enterprise. Only a few thousand of
think about: ‘How can I do things more
Canada’s businesses are publicly traded,
Once staff are shown how to be more
effectively?’ ”
updated based on suggestions from staff.
that
underlie
success is
could
dominated
by
private
Steve
and private firms generate roughly 70 per
productive, and because they want to be
Sammut. “That is really the innovation we
cent of all corporate profits. A strong,
better,
try to encourage, and it goes a long way.”
successful
adjustments on their own, he adds. “It just
says
president
vigorously
private with
sector,
independent,
beating often
At the iconic Canadian burger chain A&W
family-owned businesses, is vital to the
the past few years, the innovation story
growth of the economy as a whole and
has been about introducing hormone-
the vitality of the nation itself.
and antibiotic-free ingredients. “We’re by
“[T]he decisions that leaders of our
MBE BUSINESS MAGAZINE JUNE 2018
W W W. M B E F O RYO U. C O M
they’ll
usually
make
the
happens.”
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