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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

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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.

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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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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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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

transition into a healthy and competitive workplace easy.

Quick overview of the plan: •

Benefits

starting

from

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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

reasonable to expect that you take care

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business can create a desirable and

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• 52% reduction in disability time and a

Visit northernfinancialgroup.ca or call

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• 13% improvement in service quality

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• Turnover percentage cut in almost half Companies that invested in wellness programs at the workplace, saw a cost-benefit ratio that ranged from $1.50 to $6.15 for every dollar invested.

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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

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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,

W W W. M B E F O RYO U. C O M

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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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W W W. FAC E B O O K . C O M / M B E F O RYO U 7

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

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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

W W W. M B E F O RYO U. C O M

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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,

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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

W W W. M B E F O RYO U. C O M

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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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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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

W W W. M B E F O RYO U. C O M

its

|

ease

of

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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

|

a

modern

high-resolution

W W W. FAC E B O O K . C O M / M B E F O RYO U 7

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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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

W W W. FAC E B O O K . C O M / M B E F O RYO U 7

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

W W W. M B E F O RYO U. C O M

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|

the

W W W. FAC E B O O K . C O M / M B E F O RYO U 7

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

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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

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available

audio

the

production

series,

beyond

Through

traditional

language,

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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

|

W W W. FAC E B O O K . C O M / M B E F O RYO U 7

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

W W W. M B E F O RYO U. C O M

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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

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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

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CROSSWORD PUZZLE

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2

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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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37

39

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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.”

|

W W W. FAC E B O O K . C O M / M B E F O RYO U 7

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