Showing posts with label managing. Show all posts
Showing posts with label managing. Show all posts

Friday, March 15, 2013

Bruce McDougall, The McDougall Group, interview


Radio interview with Bruce McDougall, on Business in Motion with host, George Torok.

Who is Bruce McDougall?

He is the founder and president of The McDougall Group, a financial planning company in Burlington, Ontario. A past president of the Burlington Chamber of Commerce he is a long time active Rotarian. He is a marathon runner, tri-athlete, a past competitive racquetball player and an avid golfer.

Insights from this interview

“Building wealth requires discipline and a plan. You don’t need a lot of money to start.”
“Biggest mistake that people make is starting too late.”
“Biggest myth is that you need to take big risks with your money.”
“The hardest thing in sales is the ability to get up off the floor and keep going. When hiring sales people – that’s difficult to test for.”
“As a financial planner you are really a sales person. You are running a business and every business needs sales.”
“When I was interviewing wait-staff for my restaurant I would try to intimidate them to test how easily they might be intimidated by customers.”
“How do you choose a financial planner? You have to like the person.”
“Most entrepreneurs have had three or four failures. Don’t dwell on it. Learn from the mistakes and move on.”
“Get inspiration from keeping people around you who are experiencing similar experiences.”

Radio interview with Bruce McDougall on Business in Motion with host, George Torok.

Listen to this interview here

Listen to this interview on iTunes

Listen to more interviews from Business in Motion


George Torok Host of Business in Motion Business Speaker  
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Wednesday, December 05, 2012

Hiring an Accountant? What to Look for Among Your Applicants


Hrinng an accountant
Guest post from Raine Parker

It doesn't matter in what type of business you're in – a small mom and pop shop or a big oil and gas company – you probably need some professional help when it comes to growing and managing your business' finances. Accountants are great resources to seek out when it comes to preparing year-end taxes and revising company expenditures. Should you be in the market to hire an accountant at your company, it's important to know what characteristics and qualifications you're looking for. Here are three characteristics you definitely should be on the lookout for during the process of hiring a new accountant employee.

Expertise

One thing to remember when hiring an accountant is that there are different types of accountants (bookkeeping accountant, tax accountant, CPA, etc.). Whenever you're interviewing candidates, find out what expertise they have. If you want your accountant to do more than just basic HR work and payroll preparation, then you're definitely going to want a tax accountant or CPA. Furthermore, it's also wise to find an accountant with experience in your field, whether it is retail, law, manufacturing, etc. That way, they'll be versed in all the different laws and requirements related to your industry. Furthermore, it's also important to look for someone that has dealt with a business size similar to yours. If they've been employed at a huge accounting firm for the past few years, it's unlikely they'll have the attention to detail that a small-business accountant will have (and vice versa).

Training

As emphasized before, not all accountants are the same. Some accountants obtain their college degrees and learn extra bookkeeping skills through years of work experience. Do some research and determine whether or not your company needs a CPA (certified public accountant), CMA (certified management accountant), and so forth. Believe me, there is a huge difference between accountants who have solely have a college degree compared to those who have also obtained a CPA, CMA, and other certifications. Licensing and continued education help accountants stay on top of any changes in law and reporting requirements, so it's definitely an asset to have. Should you find an employee candidate you really like, but they don't have enough licensing or continued education under their belt, see if they would be willing to obtain those things while working for you. If your business has the funds to provide them with those resources, then that might something to look into.

Abilities

Last but not least, an accountant should be able to perform a myriad of work tasks, including basic bookkeeping, tax planning, financial advising, problem solving, etc. There's no sense in hiring someone who can't handle a number of work tasks at once, so be on the lookout for someone that possesses the ability to setup an efficient bookkeeping system for your company, manage the company cash flow, make wise business decisions, and advise on any financial changes that need to be made. An accountant should be adaptable to different situations and tasks, so make sure to also present potential scenarios and conflicts during your interviews and see how the candidates explain how they would handle them. It’s also useful to have candidates describe different situations they've experienced where they've had to utilize specific skills and expertise.

Accountants are an asset to successful businesses and companies. If you're looking to hire an accountant for your company in the coming months, be sure to keep these three key points in mind.
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Raine Parker, former accountant and financial advisor, now spends the better part of the day writing for www.Accountingdegree.com to spread awareness and information on all things accounting. Please submit any comments or feedback in the section below!
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Learn about Presentation Skills training for accountants.

George Torok Host of Business in Motion Business Speaker Listen to Business in Motion audio PodCasts On iTunes Business in Motion on Facebook
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Wednesday, October 31, 2012

Creative Problem Solving: How to Ask Better Questions

The Creative Problem Solving process is about asking the right questions at the right time - and listening to the answers without judging.

Enjoy this video as Creativity Catalyst, George Torok, offers tips on how to ask better question along the creative problem solving path.



In what ways might you...?

George Torok Host of Business in Motion Business Speaker
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Friday, October 26, 2012

Benefits of Leasing


Leasing
Lease financing may be a smart way for business owners to acquire the modern technology they need to be competitive while preserving capital to invest into other key areas of the business


Assuming your company is in the business to turn a profit, not just to acquire assets, equipment Lease Financing has its benefits…

ü     Leasing provides up to 100% financing of the equipment cost.
ü     Working capital & lines of credit remain free for other uses.
ü     Credit decisions are generally very quick, often the same day.
ü     Fixed rental for the term of the lease.
ü     Pre-determined purchase option is standard with our lease.
ü     Hedge against inflation.   
ü     Trade-in or upgrade your equipment as technology improves.
ü     Simplifies bookkeeping  -  rentals are fixed
ü     Tax Savings - Lease rentals may be 100% deductible 
ü     Simple documentation
ü     Personal guarantees rarely required for established businesses.
ü     Flexibility - Rental schedules may be tailored to fit cash flow needs.
ü     No time wasted visiting a bank office or other institution.
ü     HST is paid on the rental, instead of up front.
ü     Modern equipment can be acquired immediately adding to your cash flow & productivity.
ü     Facilitates budgeting – costs are known
ü     Deals under $30,000 require only a clean credit report
ü     Current model used equipment will also be considered
ü     Any type of business entity, large or small qualifies

          …each leasing situation is different, just as every company is different.

Contact the experts at Lease-Line to-day!


www.lease-line.com
art@lease-line.com


George Torok Host of Business in Motion Business Speaker
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Monday, October 15, 2012

How to Handle Junk Mail


By Harold Taylor 

Larry J. Sabato, in an article, Mailing for Dollars, in an old issue of Psychology Today, refers to a survey that showed that 63 percent of the people really look forward to receiving mail.  Even more than they look forward to daily activities such as watching television, hobbies, eating dinner and sleeping!  He also mentions another survey that revealed that 75 percent of the people who receive political mailings actually read them.

Contrary to the popular belief that most junk mail ends up in the wastebasket unopened, it doesn't - at least not until it has grabbed your attention and consumed some of your time.  To increase the likelihood of your perusing these unsolicited mailings, such ploys are used as personalized envelopes, "live" stamps, return postage, teaser copy, red ink, creative copy, and a personalized, conversational tone.

Direct-mail consultants spend their time devising new ways of getting you to spend your own time - and money - on various products and services offered.  Although I don't recommend you throw out all junk mail unopened, since much of it could be useful and profitable, you should be selective.  If you recognize from the envelope that the product the product or service is one you don't need or want, discard it unopened.  Otherwise, you'll be trapped into sorting through the interesting, colorful inserts that are designed to capture your interest.

 It can become very time-consuming when the direct marketers don't take the trouble to eliminate duplication.  If you receive two or three identical envelopes from the same mailer, take a minute to scribble "Return to sender" on the unopened envelope.  On the duplicates, add the statement "please remove name from mailing list."  Or have a self-inking stamp made up that says it for you.  

Unsolicited material can be valuable, keep you updated on what's new on the market, and give you some great ideas for increasing productivity in your firm.  But it is also designed to attract your attention.  So spend as little time on it as possible.  Be ruthless with those you open.  If their value is in doubt at all, scrap them quickly.  Resist the urge to read further or hold them over until later.  And don't circulate the material to others unless you can see immediate use for it.  When you do send material to others, note exactly what you want done and whether the material should be retained or scrapped.

File material you want to retain; but not in a permanent file system.  Place it in a follow-up file or idea file for future action.  Record the reason you are keeping it.  Discard inserts that are unnecessary and staple the other material together.  Don't file loose or paper clipped material.  On the pre-determined date, review it and take action.  Resist the urge to re-file it.  If you don't have time to do anything about it or have second thoughts about its value, scrap it.  Err on the side of tossing too much, never too little.

If you find the junk mail is consuming too much time, and keeping you from the priority items, have it separated from the other materials and placed in a folder of its own.  Then, regardless of when you review your mail, leave the folder until the end.  If you have used up your allocated mail time without having gone through the junk mail, no harm done.  Leave it until tomorrow.

You might even leave the folder of junk mail until fifteen minutes before quitting time.  You are normally winding down by then, and in no mood for priority tasks that require mental alertness.  With only junk mail standing between you and the evening meal or leisure time, you tend not to dawdle over those eye-appealing folders.  The secret is to review all junk mail, but do it quickly, without allowing it to infringe on priority time that could be used for priority tasks. 




George Torok Host of Business in Motion Business Speaker
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Monday, October 01, 2012

Disaster-Recovery Insurance: Preparing for the Worst to Avoid an Expensive Mistake

Disaster Insurance for Business

“Expect the unexpected” is an old axiom that has global applications. It’s a piece of advice that falls into the same category of Murphy’s Law, the familiar, though pessimistic, adage that predicts, “Anything that can go wrong, will go wrong.”

Business owners often prepare for the worst and hope for the best. Large companies hire risk managers who predict risks and put together custom coverage plans, but small business owners must rely on their own knowledge or an agent to assist in creating plans. Even professionals can’t foresee natural disasters or other unexpected crises, which makes disaster-recovery insurance a must for small businesses with large investments in property or inventory.

A 2010 survey conducted by Travelers Insurance revealed that 94 percent of small business owners are confident that their business is protected against insurable risks; however, only 56 percent of those surveyed had disaster-recovery insurance.

Business owners without disaster-recovery insurance may not realize that their standard property insurance fails to cover disasters such as flooding, terrorism or other external circumstances that disrupt day-to-day operations. Unfortunately, this gap in coverage could have drastic consequences. According to federal statistics, 43 percent of businesses that close due to a natural disaster remain permanently closed; and 29 percent close in the following 2 years.

Natural disasters aren’t the only unpredictable risk factors. For example, would you be covered if a water main broke and flooded your building?  A business owner who has business interruption insurance will receive reimbursement for lost income in addition to necessary funds to repair damages. This business owner can retain employees while the property undergoes repairs. The employer without this type of coverage would be forced to lay off employees until repairs are completed – or to pay employees out-of-pocket.

Many small business owners purchase a standard Business Owners Policy or BOP, without researching the different areas of coverage. This may be why only 56 percent of business owners surveyed by Travelers Insurance were covered with disaster-recovery insurance. Though business owners may assume their property is protected against the unexpected, a standard BOP may be limited to maintenance and restoration. 

For small business owners who are not heavily invested in property or inventory, business interruption insurance may not be essential. However, this does not exclude the home-based business. Many independent business owners who work from home have admitted to having no extra insurance, falsely assuming that their homeowner’s insurance will be enough to protect against damages.

Most homeowner’s policies exclude business pursuits from coverage. Insurance claims filed to cover equipment, software or inventory could result in denial if an insurer were to tie the claim to a business venture. Home-based business owners who are interested in business interruption insurance should opt for a claim that includes an extra expense clause. The purpose of this clause would be to allow for the relocation of a business while the original property (the home) undergoes repairs.

Even though insurance is required to mitigate damages of the unexpected, sometimes purchasing insurance can come at a risk. A new business owner can overlook certain risks and find himself underinsured; while a business owner who chooses an unreliable agent could overspend on policies. Business owners who make self-education a priority can avoid such unnecessary and expensive mistakes.
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Carol Wilson is a versatile guest blogger who primarily writes about global business trends and finance. When she's not writing for sites like www.businessinsurance.org, she enjoys hiking and fishing. If you have any questions or comments for Carol, please send them to wilson.carol24@gmail.com.



George Torok Host of Business in Motion Business Speaker
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Monday, September 10, 2012

Time Management for Entrepreneurs


By Harold Taylor 

Time management for entrepreneurs involves more than simply trying to increase productivity through the better use of time. You must first determine what it is you want to accomplish, set specific goals, draw up guidelines, and avoid the countless temptations to stray from your original intent. To do this you will need a mission statement, annual goals and personal time policies.

Develop a mission statement.
A mission statement will give direction to your business and personal life. It will keep you focused on your reason for being in business and keep you from getting sidetracked by all the opportunities that are unrelated to your chosen profession. You can be good at a lot of things, but greatness requires focus. My advice is to choose an area of specialty, write a mission or vision statement, and set long-range and annual goals that are compatible with that mission.

Record your mission statement in the front of your planner where you will see it every time you open your planner to record an appointment or activity.  You might even put it on the front cover. It should be short and simple, such as “To help others succeed in business through better time management skills.”  

Set goals 
Limit your goals to five or six per year at any one time. This forces you to focus on the valuable few rather than jumping from one goal to another based on the whims of the moment. Too many goals are distracting.  You can always add new ones to the list as the others are completed. Write them in the front of your planner or in a special category of your To Do List on your Blackberry or other PDA.  They should be portable, so don’t limit them to a list on your desktop planner unless you spend your life in front of the computer. Assign deadline dates. One goal might be “To complete a book on Procrastination by July 30th.” Another might be “To have a fully operational website by October 15th.” Make sure these deadlines are realistic. Work backwards. If you want to complete a task by the end of the year, and it takes an estimated 100 hours to complete it, how many hours each week would you have to schedule in your planner in order to meet that deadline?  If the answer is 10 hours, based on your current level of activity that might be unrealistic. So change the deadline date. Once you have a workable plan, be sure to block off appointments with yourself to actually do the work. 

The goals that you write should all help to further your mission. In the example above, developing a time management workshop by April 30th would help; but purchasing a cabin cruiser by June 15th would not. However if your mission were to live in luxury for the rest of your life, the goal would be compatible.

Develop personal time policies
Personal time policies are guidelines that will help you make tough decisions regarding the budgeting of your time. Business policies are used in organizations to help employees make decisions on their own. Examples of business policies might be the customer is always right or we will not be undersold. Similarly, from a personal standpoint, it helps to have a set of personal time policies or value statements. These policies may be different for different individuals and may include statements such as:

  • I will not compromise my beliefs, values or personal mission. 
  • I will not become an activity packrat; for every new activity I take on, one of equal time-value must be subtracted. 
  • I will have as much respect for my own time as I have for other peoples' time. 
  • Decisions or choices affecting my family will be discussed in advance with my family. 
  • I will not be coerced into changing my priorities; they will be changed only if my heart is in it. 

Policies such as these simply serve as guidelines when making decisions that affect your use of time. Personal time policies also help you to maintain balance in your life. You must also schedule personal and family activities into your planner as well.

Time planning for entrepreneurs involves a thoughtful consideration of why your company exists, what it is you want to accomplish through it, and how you plan to get there. Then any time efficiencies you practice will not be in vain. 





George Torok Host of Business in Motion Business Speaker
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Monday, June 25, 2012

What is Strategic Thinking?

This question was posed in a Linkedin group.


What is Strategic Thinking?


This was my reply. 


--------------------
We only need a strategy when we want to change something. You don't need a strategy to stay the same.

Strategic thinking must be the ability to clairify the pain that you are willing to experience for the uncertain outcome.

-------------------- 



What do you think?



George Torok Host of Business in Motion Business Speaker
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Monday, April 25, 2011

Ken Tencer – SpyderWorks Audio Interview

Listen to the radio interview with Ken Tencer of SpyderWorks.

Interview with Ken Tencer, CEO of SpyderWorks & co-author of “The 90 Percent Rule”
SpyderWorks is a strategic design firm. They are “stratical” – a blend of strategic and tactical.

——————-

Insights from this interview with Ken Tencer

The 90% rule is based on doing the things that you are 90% capable. That lowers risk and cost.
I came from a family of entrepreneurs and always believed that I would be and entrepreneur.
The book is perfect for anyone who wants a practical way to grow their business.
The risk test is – could it put me out of business?
Don’t try to hit home runs.
Look for what the next 10% can offer you.
It’s not necessary to invent anything.




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Saturday, March 26, 2011

The Business Transition Crisis – Book Review



Who is this book for?

This book is a must read for entrepreneurs and business owners who are thinking about their succession plan or drafting an exit strategy. Every business owner must plan for that transition. Unfortunately not everyone does. If you don’t plan your business transition someone else will make the decisions for you.


What is the urgency?

This book sounds a timely warning to the baby boomers within that group. Many of those business owners will be forced into a fire sale. Baby boomers have affected so many aspects of our culture and economy as they’ve grown older.

If you are a boomer you might recall the mortgage rates of the eighties hitting the high teens. I felt lucky to lock in at 14% for five years. Prices skyrocketed when boomers were ready to buy – and they will plummet when they are ready to sell.

This book offers some startling statistics. One that might chill you is “71% of business owners plan to retire within the next 10 years, yet only 7% have a written plan for succession.”

Imagine the financial, emotional and health tolls on the unprepared business owners. Perhaps the most traumatic issue for entrepreneurs is to let go of the business they built. That’s the case at the best of times. Imagine the pandemic when the massive baby boomer crowd decides to exit en mass. That’s the crisis.


Why should you read it?

The Business Transition Crisis is a good read for any business owner even if the only thing it does for you is to help you recast your business as a product – not as your baby. That major perspective shift is necessary for you to begin and successfully complete your transition.

The book continues to offer perspective checks and guidelines for the successful business owner. You can follow this systematic approach to prepare yourself and your business for successful transition. Even if you think that it’s too early to start planning your transition it will be worthwhile to read the book, address the questions and start preparing yourself for the process.

The book is written in a business-owner-talking-to-business-owner candor. Wayne Vanwyck offers you insights from his experience as an owner of three businesses. That includes lessons from his mistakes and successes. He reveals his own painful wakeup call that forced him to address his business transition.

The author provides insights from the interviews that he conducted with hundreds of business owners across North America. The excerpts from some of these conversations are revealing. Some examples will make you cheer while others might sadden you. In every case the lessons are clear and simple. This is reflective experience speaking to you.

If you are thinking about your business transition then this book is a powerful yet clear and simple step-by-step guide to personal and financial success. You are presented with probing questions that must be addressed at each step of the process. There are checklists, action lists and tips.

There’s help on how to build your transition team and ensure that all the relevant players are working for your best interest. The book introduces the intriguing concept of working with a Business Transition Coach. This is a role that offers more comprehensive support than one would receive from a lawyer, banker, accountant or business broker.

The book lists and explores several options of retiring from your business. In each case there are important steps you must follow to ensure the success of your health, financial security and important relationships.

The Business Transition Crisis is a book that every business owner needs to read before they retire so they can retire successfully.


© George Torok is the host of the radio show Business in Motion. He has interviewed over 450 business leaders. You can listen to those interviews free at http://www.businessinmotion.ca/ You can also listen to those Podcasts on iTunes. George is a motivational business speaker. Arrange a speech or presentation at http://www.business-speaker.biz/ or call 905-335-1997



Book review by George Torok



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Wednesday, July 21, 2010

163 Pieces of the Best Business Advice

Tip of the hat to Carol Roth for compiling this list of "163 Pieces of the Best Business Advice".

Good tips, ideas and reminders for anyone in business.

Also it's a clever way to create good content - ask other experts. It's the Chicken Soup model of writing.

Yes, I contributed. My advice is below for you.


109. Best Place to Invest?

When I started my business I left my corporate job with a separation payout. They were downsizing. I visited my financial planner and asked how to best use that money- pay down my mortgage, invest in mutual funds or stocks? He first asked me to explain my new business which I had started part time two years earlier. His advice was to invest the money in my business because that would give me the best return over the next few years. I followed that advice. It was good advice.

Thanks to: George Torok of Power Marketing.

And here are some pieces of advice that resonated with me



2. Wise Words from Henry Ford

While I never met Henry Ford (I'm too young to have known him), his words live on and have inspired me on many a day:Whether you think you can or think you can't, you're right.Believing I could start and grow my business played a huge role in the success I am now enjoying. Thoughts become things. What thoughts are YOU thinking?

Thanks to: Randi Busse of Workforce Development Group, Inc..


9. I'm Anxious Today-- Excellent!

When you have your own business, you will never have the "right" amount of work: there will always be too much or too little. Therefore, you will always be anxious. The trick is to stop thinking of anxiety as a bad thing. Instead, say to yourself, "I'm anxious today- excellent! This means I'm alive." Thinking of anxiety as one more form of energy-- fuel-- keeps you focused, committed, and excited about achieving your goals day-to-day.

Thanks to: Frances Cole Jones of author of "The Wow Factor".


25. Attention
Pay attention to the things you can control, not to the things you cannot control.

Thanks to: John Pulsifer of Jolly John Auto City.


37. Create an Advisory Board

The best business advice I received when starting my company - Loyalty Factor LLC - was to create an advisory board of senior-level individuals who believed in me, and the business model. The board had to include marketing, sales and financial experts. I was surrounded by experts in all aspects of a business and had the support system to encourage and energize me to exceed my goals and objectives. Capitalize on other people's experiences and expertise to strengthen your own.

Thanks to: Dianne Durkin of Loyalty Factor, LLC.


105. Sweat the Little Things.

My grandfather was a craftsman and an artist. His business was to make things look good. He told me that if you don't sweat the little things, then the big picture will suck.This bit of advice isn't simply about "paying attention to the details," but this is more about having the business discipline to be meticulous about the aesthetic, the functional and even the peripheral pieces that inevitably contribute to whole of the business.The little things are what really matter.

Thanks to: Dave Racine of Pierce Cleaning.


134. Stay Dispassionate

Tip: Nothing is as good or as bad as it seems at first. I received this tip from a friend. One of the most important things in managing a business is maintaining your equanimity, not over-reacting to situations (positive or negative). Many times we faced critical problems like key contractors leaving at crucial moments in product development, issues that could have sunk us if we didn’t manage it properly. But by maintaining an unemotional approach, we turned the problems to our advantage.

Thanks to: Gaurav Bazaz of Pravega Inc..


Here's the full list of 163 Pieces of the Best Business Advice

Here's the Carol Roth site


George Torok

Host of the weekly radio show Business in Motion

Listen to Business in Motion Podcasts

Listen to Business in Motion on iTunes



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Thursday, May 27, 2010

Meetings the Necesary Evil

iPad killer app #2: fixing meetings
By Seth Godin

Here's an app that pays for 12 iPads the very first time you use it. Buy one iPad for every single chair in your meeting room... like the projector and the table, it's part of the room.


I recently sat through a 17 hour meeting with 40 people in it (there were actually 40 p
eople, but it only felt like 17 hours.). That's a huge waste of attention and resources.

Here's what the app does (I hope someone will build it): (I know some of these features require a lot of work, and some might require preparation before the meeting. Great! Perhaps then the only meetings we have will be meetings worth having, meetings with an intent to produce an outcome). I can dream...


1. There's an agenda, distributed by the host, visible to everyone, with time of start and stop, and it updates as the meeting progresses.

2. There's a timer, keeping things moving because it sits next to the agenda.


3. The host or presenter can push an image or spreadsheet to each device whenever she chooses.

4. There's an internal back channel that the host can turn on, permitting people in the room to chat privately with each other. (And the whole thing works on internal wifi, so no internet surfing to distract!)


5. There's a big red 'bored' button that each attendee can push anonymously. The presenter can see how many red lights are lighting up at any give time.

6. There's a bigger green 'GO!' button that each attendee can push anonymously. It lets the host or presenter see areas where more depth is wanted.


7. There's a queue for asking questions, so they just don't go to the loudest, bravest or most powerful.

8. There's a voting mechanism.


9. There's a whiteboard so anyone can draw an idea and push it to the group.

10. There's a written record of all activity created, so at the end, everyone who attended can get an email digest of what just occurred. Hey, it could even include who participated the most, who asked questions that others thought were useful, who got the most 'boring' button presses while speaking...


11. There's even a way the host can see who isn't using it actively.
Can you imagine how an hour flies by when everyone has one of these in a meeting? How focused and exhausting it would all be?
$500 each, you'll sell 50,000...

PS no one built the first one yet. Sigh.

Seth Godin
--------------------

I'm with Seth on this. I hate meetings because people run them poorly and hence waste time and aggravate others.

George Torok

Host of Business in Motion

Business Speaker


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Monday, November 30, 2009

Thriving in Turbulent Times with Jim Clemmer

It seems that these turbulent times are not over. Listen to this free webinar on Decemeber 3 with Jim Clemmer. Jim is one of the brightest business minds I know. When Jim Clemmer speaks, I listen closely.

Click here to register for Dec 3 webinar with Jim Clemmer.

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Thursday, October 08, 2009

Forbes: How to Run a Meeting

Business Basics: How To Run A Meeting
By Susan Adams
Forbes.com

Dr. Nadine Katz goes to a lot of meetings. Some of them last so long the participants have to order in food or switch rooms.

About seven years ago Katz, who is associate dean, professor and director of medical education in the department of obstetrics, gynecology and women's health at the Albert Einstein College of Medicine in New York City, decided she'd try to figure out how to make those endless meetings more efficient.

Her study produced great results at Einstein. Though she doesn't like to toot her own horn--"I'm turning crimson right now," she says when asked how her meeting style has helped her career--she has improved a slew of committee conclaves at her institution. Two years ago she was promoted to associate dean. "You never know who's going to be in the room and who might be considering you for another opportunity," she allows. She even speaks to physicians' professional associations about how to improve meetings.

Katz's approach applies to meetings everywhere. Her tips go beyond the standard meeting advice, which pretty much comes down to start and end on time, set an agenda and stick to it.

Her number one recommendation:
Prepare, prepare and prepare some more. Not only does she lay out in advance a detailed agenda for a meeting and touch base with the participants to alert them to important points, she also surveys the physical space where the meeting will be held--down to details like the room temperature and whether there might be a flickering fluorescent light bulb. "I am someone who believes in overly preparing," she admits. When ordering refreshments, she even checks on individual taste. "If someone likes Tab, we order Tab," she says. Small amenities like that can help participants feel welcome and eager to participate.

Read the rest of this article at Forbes.com
---------------------------

Clearly there is a lot more to running an effective meeting than just showing up. It's all about the details.

Over the decades I've attended way too many meetings and enjoyed very few of them. You might understand my feelings about meetings.

“There are three types of meetings – boring, complete waste of time and postponed.”

George Torok
Host of radio show, Business in Motion
Motivational Business Speaker


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Monday, February 02, 2009

Monday Morning Manager

MONDAY MORNING MANAGER
Harvey Schachter's guide on how to handle everything from overflowing e-mail to meeting overload

BEST PRACTICES: Magic Man-ager: Consultant George Torok helped David Copperfield pull off an illusion on a Las Vegas stage - and took away some lessons for business.
HARVEY SCHACHTER

February 2, 2009

George Torok had a chance not only to watch the illusionist David Copperfield live in Las Vegas, but go on stage and assist him with a segment of his performance. The business consultant from Burlington, Ont., was randomly chosen as a volunteer, and held an empty wooden bucket from which the entertainer drew a live duck. He has no idea how that feat was accomplished, but brought back some business lessons that he shares in The Secrets of David Copperfield on zeromillion.com:

There is no magic
You will not reach success in any field because of magic. Even Mr. Copperfield does not claim magical powers. He points out his secret is illusion.

The power of Illusion...
Read the rest of this article at the Globe & Mail
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The Globe & Mail is Canada's national business newspaper.

George Torok

Canadian Business Speaker

Host of radio show Business in Motion


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Monday, December 08, 2008

Leadership in Tough Times

Leadership in Tough Times

By Peter Urs Bender


The economy is slowing. All you hear are the cries of economists, businessmen, and governments moaning that things aren't good, and aren't going to get better anytime soon. In spite of, or perhaps because of that, I have had a greater request for management consulting jobs in the last few months than ever before.

If you're "leading from within" the first thing you should ask yourself is: "What is a Tough Time?" The answer is that's it's a perception. What you see is what you get…and all the predictions and projections of the experts often become self-fulfilling prophecies because they are creating the "perception" that things are "tough". But are they really that bad?

If the economy is bad, we say it's a recession.If we lose our job, it's a depression. Everything is relative yet someone, somewhere is always worse off.

Imagine, for instance, you lived thousands of years ago. You're working hard on the farm and suddenly the Mongols appear on your doorstep. They destroy your crops, abduct your women, and kill your family members. That's a Tough Time made even worse by the fact that innocents are dying in the onslaught. In some places in the world, such as the Middle East, Africa, and even parts of Europe, it's still pretty bad.


That isn't happening here in Canada, but it does seem as if we're going through Tough Times. I'm not making light of it. But realize that a Tough Time is "as we see it". We we feel is real. Welcome to reality.


In my book Leadership From Within I say there are five elements to leadership. They're important for your self-fulfillment in the best of times, but in bad times it's even more important to do a reality check. Not only be tell yourself "things could always be worse", but try to maintain a positive attitude. In the past I used to tell my consulting clients not to associate with a negative people. Today, I tell them to run away from them.


Here are the five elements you need to work on.

Know yourself
In good times you do what helps you develop your potential-in Tough Times we have to do what helps to pay the bills. You might need to work overtime without charging your company for it to keep your job. You might take on extra projects at home that formerly you did on company time. You might have to help your company reduce expenses (fly economy, not business class; schedule a few visits together; cut down on business lunches), and you might have to reduce personal expenses at home. You will do whatever you must to keep afloat.


Have a vision
In Tough Times it's of crucial importance to have a positive vision of what will happen later. It's important in good times, too, but when the going gets rough it's imperative to look beyond the immediate mess. Remember, Tough Times won't last. Things always change. Those who most successfully rise above their current difficulties are those who can see things positively, even in a negative time. Here is where religious believers can have an advantage over non-believers. They see their leaders suffering but not breaking. They are inspired by forward-looking visions. Studies also show that people who keep a positive attitude also tend to have less mental and emotional problems, less physical sickness, and better all-round health.


Take Risks
In good times you can take risks fairly easily, knowing you mostly always have a fallback position. In Tough Times, don't take large financial risks if you can't afford them. The risks you take should be those which will position you to capitalize on them when times get better. If you're in the management planning area, don't hesitate to take on extra work in the execution of tasks. If you are in inside sales, put on a hat and knock on doors for your company in new markets. Look for additional things you can do to benefit your company. When things improve, your efforts will be remembered (we hope!).


Communicate
Talk nicely to yourself. Talk positively about the things you accomplish and will accomplish in the company and in your life. Don't bitch and complain about Tough Times. Tell yourself and others to enjoy what they have now…if could be worse. The economy might go down, but it's not exactly as if you're on the Titanic, though it might sometimes feel like it. If you have an option, ask yourself which you would prefer: to be where your are now, or in the greatest luxury liner ever built, in a first-class suite with all the trimmings, on the night of April 14, 1912.


Check your progress and results
In good times it's important to set benchmarks and check your results against them. In Tough Times it's even more important. Keep your personal financial books in order as much as possible. Pay your bills on time. If you can't, send regular partial payments. Look after your health. Take care of it. After all, when your body kicks out, you're done. By keeping a positive outlook you'll probably be able to keep at bay the things that can drag others down. But there are no absolute guarantees. Even if you follow all the leadership strategies I've outlined here, things still might turn out sour. Life isn't fair! That's life!


Peter Urs Bender is a well known Canadian management consultant, and author of three best-selling books: Leadership From Within, Secrets of Power Presentations, and Secrets of Power Marketing. His fourth book, Secrets of Face-to-Face Communication, is now in bookstores.

Visit http://www.peterursbender.com/

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My dear friend and mentor Peter Urs Bender died in March 2005 - long before our current economic crisis yet his words seem so appropriate for us today.

What does that tell you? That this isn't the first time we face a crisis nor the worst. Suck it up and look for the opportunities folks. It might be cliche - but it's true - when the going gets tough the tough gets going.


George Torok
Motivational Business Speaker
Canadian Business Speaker

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Friday, January 18, 2008

True North - book review




True North
Discover your Authentic Leadership

Enjoy this book review by Ian Cook

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True North
Reviewed by Ian Cook


In my letter that introduced the last book I reviewed, A Leader's Legacy, I said that defining "leadership" is like trying to define "art." We just can't agree on what it is.

Bill George, the author of True North, says this is because leaders are very complex individuals who are shaped, above all, by their "stories" (in life). This is a remarkable book that places superior leadership in the context of having a defining purpose, a "true north," that both focuses you and enrolls those around you in the goal.

The more I work with senior leaders and follow the related research, the more convinced I become that the key to their success is their authenticity and the clarity of their purpose.
True North invites you to ask yourself, as a manager, "What do I stand for in my work that is beyond my self-interest?" The author has some ideas to help you move from being just another manager to being the best boss your staff has ever had.

Read the True North book review.

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George Torok

Host of Business in Motion

Business Writer

Monday, July 23, 2007

Entrepreneurs - 100 Daily Must-Reads

For entrepreneurs here is a helpful blog post. 100 valuable blogs for entrepreneurs compiled for you by Bootstrapper.


The 100 Daily Must-Reads for Entrepreneurs

These days, it seems that almost everyone has a blog, so it’s often hard to separate what’s really worth reading from what isn’t. Luckily, we’ve done the work for you and narrowed it down to 100 highly informative sites. Take a look at what they have to say and see how they can help you grow your business.


Entrepreneurial topics:

Raising Capital
Managing Debt and Risk
Managing Staff
Venture Capitalists
Productivity
Small Business
General Interest
Marketing
Startups

I am happy to note that my Marketing Blog is listed on this list of 100 best blogs for entrepreneurs.

George Torok
Motivational Speaker
Entrepreneur

Radio Host of Business in Motion
Marketing Specialist

Monday, March 26, 2007

Peter Drucker: Business Insights

Peter Drucker: Management guru

Enjoy these business quotes from Peter Drucker. He was the first and still the greatest management guru. Enjoy these pithy quotes from his books.If you read his works you might notice that many other business experts are simply paraphrasing Peter Druker's words.



Management fads are a substitute to thinking.


Wherever you see a successful business, some once made a courageous decision.


The leaders of the past know how to tell: the leader of the future will know how to ask.


Ideas are somewhat like babies – they are born small, immature and shapeless. They are promises rather than fulfillment.


Don’t subscribe to the theory that innovation can be achieved through committees.


It is who gets promoted that tells more about what a company stands for.


There are no irrational customers, only lazy merchants and manufacturers.


Business has only two functions – marketing and innovation.

The above insights are from management guru, Peter Drucker.


George Torok
Host of Business in Motion

Monday, August 14, 2006

Treat your Staff like Dogs

If you manage people you should treat them like dogs. If you do you will get better results.

The critical question is: How do you treat your dog?

The wrong way is to take them for a walk, be unclear about your expectations, fight them when they don’t read your mind, and carry a plastic bag to pick up their messes.

Many managers can learn a lot from dog obedience training. Most of the training is aimed at the dog handler. Showing them how they need to give clear directions and reinforce those directions; teaching that the handler is responsible for the actions of the dog.

A manager’s job is to guide staff in accomplishing the company goals.

Imagine the tension if the manager does not set clear directions and constantly lets staff run at the end of the leash and attempts a tug-a-war with them.

In obedience training the dog handler is taught not to fight the dog. Instead, the emphasis is to guide the dog in the desired actions. When the dog strays he gets an abrupt jerk to return to desired path, and when the dog performs as desired, he gets a quick reward.

The abrupt jerk should not be painful – just immediate and attention grabbing.

The reward should not be a bribe – just an affectionate pat and encouragement.

Yes, this is an analogy. And yes, there are some transferable principles from dog obedience training to people managing.

When I took my dog for obedience training I was surprised how the principles helped me with managing my staff.

The actions of the dog are the responsibility of the manager.

How well are you managing your staff? If it is not working you might need training.

George Torok, host
Business In Motion