http://albertaventure.com The Right Call is a rotating panel examining issues of corporate ethics. Fri, 03 Sep 2010 21:19:29 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 The Right Call is a rotating panel examining issues of corporate ethics. Fil Fraser http://www.albertaventure.com/audio/righcall/Vent_Fil_Fraser9.jpghttp://albertaventure.com Fil Fraser, Right Call, Corporate Ethics no Alberta Venture gblodgett@albertaventure.com http://albertaventure.com/2010/07/action-plan-online-part-7-of-12/ http://albertaventure.com/2010/07/action-plan-online-part-7-of-12/#comments Thu, 01 Jul 2010 07:50:40 +0000 Gunnar http://albertaventure.com/?p=11305 http://albertaventure.com/2010/07/action-plan-online-part-7-of-12/feed/ 0 How to integrate new people into your employee team by Lindsey Norris // // Who to hire first? When you want to grow, you must add people. But who should you add first – sales people to get orders, or production staff who can learn the ropes and be ready to turn out a top-notch product? The quick answer, says Marty Park of Evolve Business Group, is sales. Here’s why. Bottlenecks are likely It’s unlikely any growth will unfold as smoothly as you’d like it to. Accept that, and it’s easier to decide where you want to the hold-up to come from. “I don’t want the bottleneck to be in business development. It’s easier to make production your secondary focus – a very close second,” Park says. “I see so many companies that start to ramp up on production and forget it may be a 12-month selling cycle.” With much of the labour pressure relieved, it isn’t as difficult to add good staff in a hurry as it once was. Evaluate the Economics In stronger economies you could afford to take a misstep here and there when it came to hiring. “If it didn’t work out, you burned through some money and you let them go,” Park says. Today the financial penalties of doing so now will likely hurt a bit more. That isn’t a bad thing. You have to be more cautious, evolve the economics of adding that person, and essentially do business better – a good rule to live by regardless of the economy. And the one caveat… You must make sure you hire salespeople. The emphasis being on sales. “In 2007-2008, a lot of managers thought they had salespeople, but they really had order takers,” Park says. “They had people who have been able to answer the phone on the ongoing basis.” In a recovering economy, and even a recovered economy with a little less bloom, that won’t cut it. RELATED LINKS Action Plan 2010 in Print, Part 7 of 12: Integrating New Staff to Your Team If there are such things as business truisms, one would be that companies that succeed in the economic recovery will be those who prepared for it before their competitors. More > Winning the price wars July’s Action Plan Podcast: Marty Park, President of Evolve Business Group, on how to integrate staff into your business when your company is expanding Click here to listen Subscribe to Action Plan podcast 1 Google “onboarding.” Learn its principles and implement 2 Don’t mistake an employee handbook for an orientation 3 Involve multiple players in new employee orientations 4 Explain what a new manager has been hired to do to employees 5 Hire right the first time to save money in the long run How to integrate new people into your employee team by Lindsey Norris // // Who to hire first? When you want to grow, you must add people. But who should you add first – sales people to get orders, or production staff who can learn [...] http://albertaventure.com/2010/07/david-emerson-podcast/ http://albertaventure.com/2010/07/david-emerson-podcast/#comments Thu, 01 Jul 2010 07:50:00 +0000 Gunnar http://albertaventure.com/?p=11245 http://albertaventure.com/2010/07/david-emerson-podcast/feed/ 0 Listen to excerpts from Paul Marck’s interview with David Emerson Click here to download the entire podcast. David Emerson on the Premier’s Council for Economic Strategy David Emerson on the diversification of Alberta’s economy David Emerson on the economic realities that Alberta is facing David Emerson on Edmonton’s bid for Expo 2017 David Emerson on the mandate of the Premier’s Council for Economic Strategy David Emerson on the power of people within the system David Emerson’s predictions for Alberta’s economy David Emerson’s advice for businesses Click here to read our feature profile of David Emerson. Listen to excerpts from Paul Marck’s interview with David Emerson Click here to download the entire podcast. David Emerson on the Premier’s Council for Economic Strategy David Emerson on the diversification of Alberta’s economy David Emerson [...] http://albertaventure.com/2010/06/when-to-push-for-productivity-audio/ http://albertaventure.com/2010/06/when-to-push-for-productivity-audio/#comments Tue, 01 Jun 2010 08:28:00 +0000 Gunnar http://albertaventure.com/?p=10197 http://albertaventure.com/2010/06/when-to-push-for-productivity-audio/feed/ 0 QUESTION: Question: How do you get more out of your staff, and stay within the bounds of good corporate ethics? THE PANEL: D’Arcy Levesque: vice president, public and government affairs, Enbridge Stephen Murgatroyd: chief scout, Innovation Expedition, Inc. Subscribe to The Right Call podcast This month’s audio comes from the interview that shaped the column When to Push for Productivity The Right Call is a rotating panel examining issues of corporate ethics. If you’d like advice on a compromising situation (no names used), send details to feedback, or login to this site and post a comment. QUESTION: Question: How do you get more out of your staff, and stay within the bounds of good corporate ethics? THE PANEL: D’Arcy Levesque: vice president, public and government affairs, Enbridge Stephen Murgatroyd: chief scout, Innovation [...] Fil Fraser 13:49 Right Call, Fil Fraser no http://albertaventure.com/2010/05/action-plan-online-2010-part-5-of-12/ http://albertaventure.com/2010/05/action-plan-online-2010-part-5-of-12/#comments Sat, 01 May 2010 07:45:43 +0000 Gunnar http://albertaventure.com/?p=9828 http://albertaventure.com/2010/05/action-plan-online-2010-part-5-of-12/feed/ 0 How to launch a new product by Lindsey Norris // // The Price is…Wrong Pricing your new product or service is one of the most important elements to introducing it to the market. Get it wrong, and it may never get off the ground. Laura Sullivan, a program manager with Calgary Technologies Inc., offers three tips to help you keep from pricing yourself out of (or too far into) the market. Problem #1: Shallowly Skimming A “skimming” strategy – charging more for a new, novel product that offers a lot of value – can be a quick way to make a large profit. Amazon’s Kindle is a good example, but as competitors come on the market, it has lowered its price. For this strategy to work for you, you must make sure your product warrants the higher price. “You have to make the comparison to your competition and your relative value,” Sullivan says. “If there is a similar product that costs less, you need to ensure a premium price is warranted.” Problem #2: Penetrating Too Deeply The opposite approach to skimming is the penetration strategy: pricing your product low to try to get as many customers as possible. But don’t price yourself out of a reasonable profit just for more market share. “If you find that uptake is much more than you expected, you may be pricing too low,” Sullivan says. “You want to try to make enough money to fund R&D….If the uptake is fast, there’s a chance you are leaving profit on the table and may want to change your strategy and try for a higher price.” Sheer volume of customers, while alluring, doesn’t always mean higher profits. Nokia has far more of the mobile phone market than Apple, for example, but the entire lineup of all of its mobile phones generates a similar profit as the iPhone alone. Problem #3: Trying To Be Everything To Everyone You may have the opportunity to position your product to different market segments. Think of the way Microsoft sells Windows – they have a product for students, home use and business. It is essentially the same product, but may have different price points, service terms, etc. You can do that too, but Sullivan counters many try to do it too soon. “We think it’s really essential that you pick a single segment, go after it and do a really good job and expand from there,” she says. “Many companies try to go after many segments and try to make them fit. They may be able to sustain their business, but can’t grow unless they focus.” RELATED LINKS Action Plan 2010 in Print, Part 5 of 12: Prepare to Launch Whether your aim is to increase market share or to create something groundbreaking that will forever change your industry, launching a new product is a tricky business that can trip up even the most well-established companies. More > How to handle your tardy receivables May’s Action Plan Podcast: Robin Winsor, President and CEO of Cybera, on launching unique products Click here to listen Subscribe to Action Plan podcast 1 Have a comprehensive advertising strategy in place pre-launch 2 Make sure the product/service is market ready 3 Know exactly what the market conditions are and price accordingly 4 Don’t think of a new product as a separate entity: think of it as an expansion of your existing brand 5 Don’t sacrifice existing customers or services for the new venture How to launch a new product by Lindsey Norris // // The Price is…Wrong Pricing your new product or service is one of the most important elements to introducing it to the market. Get it wrong, and it may never get off the ground. [...] http://albertaventure.com/2009/11/action-plan-online-part-9-of-10/ http://albertaventure.com/2009/11/action-plan-online-part-9-of-10/#comments Sun, 01 Nov 2009 09:33:21 +0000 Gunnar http://www.albertaventure.com/?p=5914 http://albertaventure.com/2009/11/action-plan-online-part-9-of-10/feed/ 0 Win the Bidding War How to keep your head (and your wallet) when you find yourself in a bidding situation Rules of the Game Whether you’re bidding on a job, a home, another company or a fruit basket at a fundraiser, many of the same principles apply. Here, people who know how to navigate the bidding-war trenches offer tips that apply in every situation. Do Your Research “Bidding auctions work so well because you’re presenting items or services to the mass market and the highest bidder wins – you find the true market value. That said, we want you to get caught up in the excitement of bidding. Your approach should really be very basic: set your price and be prepared to stop. It is very important to do your research. And don’t be frustrated if the bidding goes too high, just carry on to the next. You’ll find out soon enough if you have underestimated the value.” Ron Sekura – co-owner of Secure Auctions and past-president of the Auctioneers’ Association of Alberta, Edmonton Stress Your Strengths “I would say that non-price-related factors are the most important part of 99% of most of the bids we participate on. Once we have established that our bid meets all requirements, we can explain what we offer that should have a significant impact on the decision-maker: local support throughout all communities in North America, in-depth service, support and training. Our bid success rate is in the 90 percentile, but whether we are successful or not, we make a point of understanding other bid submissions. We ask our customer what led them to the decision so that we can learn from each of them. Not to downplay the work that goes into the bid, but I would suggest that the real work starts once the decision is made.” Patric Nagel, vice-president, North American sales, Smart Technologies, Calgary Play in Fair Arenas “The most important aspect of the bid management process is that all bidders must be treated equally. When a project is put out for tender, everyone must have access to the same information. From a bidder’s perspective, the value of bidding is a transparent, fair and equitable process. Bidders themselves should do their due diligence so they don’t waste their time and can focus on projects they’re likely to win. For example, they can ask the number of other bidders, how questions will be handled and when they will be answered.” Alice Reimer, president and co-founder, and Carey Houston, vice-president of marketing, Evoco Inc., Calgary RELATED LINKS Action Plan in Print, Part 9 of 10: Win the (Bidding) War Bidding for a contract or customer is a fact of life in many industries, including real estate, advertising, construction and engineering. But if you aren’t accustomed to competing for business, the process may seem daunting. And so it should; it is one of few instances where the winner may ultimately be the loser. Here’s how to keep your head and win the job (or recognize when it’s time to fold). More > Changing the Corporate Mentality November’s Action Plan Podcast: Responding to a Request for Proposal with Jim Nicholson, City of Calgary To listen, click here 1 Your price doesn’t have to be the lowest in order to win. 2 Announce changes all at once to avoid upsetting the apple cart more than once. 3 Stress your company’s quality, reputation and reliability. 4 Don’t sacrifice profitability to net the contract. 5 Consult a lawyer before you submit a bid as well as after. 6 Sometimes you should lose. If you always win, you may be too cheap. Win the Bidding War How to keep your head (and your wallet) when you find yourself in a bidding situation Rules of the Game Whether you’re bidding on a job, a home, another company or a fruit basket at a fundraiser, many of the same [...] Lindsey Norris 7:40 Alberta Venture, Action Plan, Jim Nicholson no http://albertaventure.com/2009/10/building-the-economy-of-ideas/ http://albertaventure.com/2009/10/building-the-economy-of-ideas/#comments Thu, 01 Oct 2009 11:03:14 +0000 Gunnar http://www.albertaventure.com/?p=4775 http://albertaventure.com/2009/10/building-the-economy-of-ideas/feed/ 0 Insiders’ perspectives on what’s right – and wrong – with Alberta’s innovation system Interviews by Michael McCullough Click here for the Economy of Ideas podcast The Innovation Czar Doug Horner Since being named minister of Advanced Education and Technology in 2006, the former banker, businessman and MLA from Spruce Grove-Sturgeon-St. Albert has earned the respect of many in the technology sector for his advocacy of industry interests, willingness to listen and implementation of Alberta’s Action Plan. What we’ve been able to provide with the Action Plan is alignment – alignment of the various providers within our system. I think you go anywhere in the world and what you’ll find is in one area they know of some service delivery or commercialization piece but they may not necessarily be cognizant of what’s going on in other areas of their own jurisdiction. We had the same issue. What’s going to help us is giving that alignment to the entire Campus Alberta commercialization activity. So if you walk into TEC Edmonton and you’re at a certain place in the value chain in the development of your idea, they’ll immediately be able to identify anywhere within the system you need to go to get that help to turn that into a viable idea within the province. It comes back to the cluster idea, to have all the pieces available and the concierge service that tells them where and who and how. And that is a tremendous competitive advantage. In the past there were all these roadblocks: getting IP [intellectual property] out into the open where it can be used, not knowing where to go for your venture capital, your business plan, your mentoring, those sorts of things. Not knowing where to go for your prototype. You spend a lot of time finding that out. You lose a bit of your entrepreneurial zeal when things start to get a little bit tough. Companies may find themselves in the valley of death at some point. We have to bridge that with mentorship, good business plans, good deal flow. One of the things we heard [in our consultations with industry] is there’s this great basic research and all these good things happening, but there’s no deal flow happening. So we have to create better deal flow. All of that is why we’re doing what we’re doing…. Investors are looking for that cluster of things that support the company they want to invest in. So we had to get all that stuff aligned and in play. Then we had to create the Alberta Enterprise Corporation – then the investors are saying, “They’re actually putting some skin in the game here. They’re leveraging my dollars. Now I can go do the proper due diligence that I need to do. And then I can make that investment with the knowledge that all that other stuff is there.” The venture capitalist looks to money and support and then the market and the financial side of it. Management is a critical factor. Support for that management is a critical factor. We’re an energy province. We’ll always be an energy province, whether that’s in hydrocarbons or alternative energy. We’re taking the lead in those areas as well. It’s our technology and the commercialization of that technology that’s going to keep us at the forefront of the energy requirements of the globe. There are areas where we have strength. It’s energy and the environment, whether it’s alternative energy, environmental stewardship and hydrocarbons. It’s the bio-industries, the life sciences, the biofuels. It’s the health services delivery: cardio, diabetes, neuroscience. These are the areas of strength…. And that’s where I think you’ll see us going. All the other things going on are enabling technologies. You’ll notice I didn’t mention nanotechnology. If you’re going to have alternative energy, you’re going to need new composites that might be “smart.” The only way you’ll have new composites that are smart is if you have a very strong nanotechnology, world-leading [...] Insiders’ perspectives on what’s right – and wrong – with Alberta’s innovation system http://albertaventure.com/2009/06/web-exclusive-the-right-call-audio-collection/ http://albertaventure.com/2009/06/web-exclusive-the-right-call-audio-collection/#comments Mon, 15 Jun 2009 18:27:09 +0000 rsingh http://www.albertaventure.com/?p=3047 http://albertaventure.com/2009/06/web-exclusive-the-right-call-audio-collection/feed/ 0 Audio from the interviews that shape Alberta Venture’s “The Right Call” column. NOW PLAYING: An Ounce of Flesh What can business people do to reverse the eroding public perception of the free enterprise system? Business’s Big Black Eye What can business people do to reverse the eroding public perception of the free enterprise system? It’s the Women, Stupid Should companies mandate female representation on boards and in management? Ethical Downsizing If you have to cut your payroll, how can you do the least possible harm? Religion and the Workplace In an increasingly diverse workplace, should employers accommodate everyone or no one? Subscribe to The Right Call podcast – The Right Call is a rotating panel examining issues of corporate ethics. If you’d like advice on a compromising situation (no names used), send details to feedback@albertaventure.com, or login to this site and post a comment. Audio from the interviews that shape Alberta Venture’s “The Right Call” column. NOW PLAYING: An Ounce of Flesh What can business people do to reverse the eroding public perception of the free enterprise system? Business’s Big Black [...] http://albertaventure.com/2009/04/action-plan-online-2/ http://albertaventure.com/2009/04/action-plan-online-2/#comments Wed, 01 Apr 2009 14:30:16 +0000 Gunnar http://www.albertaventure.com/?p=3137 http://albertaventure.com/2009/04/action-plan-online-2/feed/ 0 <br /> <span class=”mceItemObject” classid=”clsid:d27cdb6e-ae6d-11cf-96b8-444553540000″ codebase=”http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=9,0,0,0″ width=”570″ height=”290″ id=”actionplan2″ align=”middle”></p> <span name=”allowScriptAccess” value=”sameDomain” class=”mceItemParam”></span> <span name=”allowFullScreen” value=”false” class=”mceItemParam”></span> <span name=”movie” value=”http://www.albertaventure.com/videos/actionplan2.swf” class=”mceItemParam”></span> <span name=”quality” value=”high” class=”mceItemParam”></span> <span name=”bgcolor” value=”#ffffff” class=”mceItemParam”></span> <span class=”mceItemEmbed” src=”http://www.albertaventure.com/videos/actionplan2.swf” mce_src=”http://www.albertaventure.com/videos/actionplan2.swf” quality=”high” bgcolor=”#ffffff” width=”570″ height=”290″ name=”actionplan2″ align=”middle” allowScriptAccess=”sameDomain” allowFullScreen=”false” wmode=”transparent” type=”application/x-shockwave-flash” pluginspage=”http://www.macromedia.com/go/getflashplayer” /><br /> </span><br /> Lower Your Lease By Lindsey Norris Until 1993, Dale Willerton, the Lease Coach, was a shopping centre manager. He saw tenants overpaying for their business space every day. Today, he and his team of negotiators help tenants get a better deal. Here Willerton identifies three common mistakes to be aware of when negotiating leases. MISTAKE #1: Failing to create competition for your tenancy. Willerton tells all his clients to pick two to four locations, even if you have a favourite, because then the landlords have to compete against each other. If one landlord will give you three free months of rent, maybe the next will give you four free months. “But tenants say, ‘we love this building, we drive by it every day’ and then the landlord has you over a barrel.” MISTAKE #2: Mistaking the timing of your move. The best time to open a new location in a shopping mall is two to three months before Christmas. “I had tenants who had bought a franchise and were putting the lease agreement together and planned to open in October. Instead, they opened on December 21 because they just didn’t factor in how long it takes,” Willerton says. It’s no use moving into a great location if your timing is poor – allow more time than you think you need to get the maximum value out of your move. MISTAKE #3: Adopting the wrong mentality. “Most people negotiate not to lose,” Willerton says. “But that’s like the Calgary Flames negotiating for a tie.” As an example, Willerton says he had a client in Calgary who said, “Don’t even show me a location if I can’t get three months free.” “So I showed him a location offering 12 months free rent. He said, ‘How did you possibly get a year’s free rent?’ I told him, ‘I asked for 18 months.’” Lower Your Overhead – Painlessly A few ways to renegotiate your “fixed” expenses. Author insert a music with WS Audio Player.(Download) this music. Q&A with Barb Stevens, trade manager at SabreTEC, on how to barter your way to a lower overhead Subscribe to The Action Plan podcast Reduce Your Overhead 1 Offer employees voluntary sabbaticals or time off. 2 Reduce unnecessary expenditures. Start with your utility bills and banking fees. 3 Barter services with other companies. (Try Calgary’s Sabre Trade Exchange Corp. at bestinbarter.com. 4 Consider hiring contractors or freelancers rather than more staff. 5 Hold off on any unnecessary expansion plans. 6 You will never negotiate a better deal unless you ask for it. Remember: rejection is not personal. 7 Begin renegotiating long-term contracts nine to 10 months in advance so you aren’t pressured [...] <br /> <span class=”mceItemObject” classid=”clsid:d27cdb6e-ae6d-11cf-96b8-444553540000″ codebase=”http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=9,0,0,0″ width=”570″ height=”290″ [...] http://albertaventure.com/2008/11/eric-newell-grey-eminences-audio-collection-part-2-of-12/ http://albertaventure.com/2008/11/eric-newell-grey-eminences-audio-collection-part-2-of-12/#comments Sat, 01 Nov 2008 17:00:57 +0000 rsingh http://www.albertaventure.com/?p=2844 http://albertaventure.com/2008/11/eric-newell-grey-eminences-audio-collection-part-2-of-12/feed/ 0 Former Syncrude CEO Eric Newell Offers Life Lessons All Should Heed Subscribe to Eric Newell: Grey Eminences podcast back to Grey Eminences Audio Collection NOW PLAYING On Advice To Premier Ed Stelmach On Alberta As The Energy Province And Nuclear Fusion On Prescription For White Collar Crime On Broadening Our Global Perspective On Beyond Maximizing Profits For Sustainability On Smart Regulation Of Executive Compensation On Corporate Management And Making The Tough Decisions On Education As The Great Equalizer On Social Responsibility On Moving to Fort McMurray IN PRINT Read the article from the pages of Alberta Venture, Social Beacon, crafted by Fil Fraser from thisinterview. – The Grey Eminences audio collection is a 12-part, audio series of conversations on today’s business issues with retired leaders in business and public life led by Fil Fraser – Edmonton-based writer, broadcaster, film and television producer, Athabasca University professor and member of the Order of Canada. Former Syncrude CEO Eric Newell Offers Life Lessons All Should Heed Subscribe to Eric Newell: Grey Eminences podcast back to Grey Eminences Audio Collection NOW PLAYING On Advice To Premier Ed Stelmach On Alberta As The Energy Province And Nuclear [...] http://albertaventure.com/2008/10/oilman-jim-gray-grey-eminences-audio-collection/ http://albertaventure.com/2008/10/oilman-jim-gray-grey-eminences-audio-collection/#comments Sun, 05 Oct 2008 15:59:57 +0000 rsingh http://www.albertaventure.com/?p=2748 http://albertaventure.com/2008/10/oilman-jim-gray-grey-eminences-audio-collection/feed/ 0 Oilman Jim Gray on Facing Alberta’s Problems Subscribe to Jim Gray: Grey Eminences podcast Back to Grey Eminences Audio Collection NOW PLAYING: On the Government as Referee On Health Care On Canada First, Alberta Second It’s Time for Alberta to Grow Up On Messages to Alberta’s Next Generation Things to Develop, Things to Avoid On Alberta Circa 1960 The absence of establishment and the rebirth of the Calgary Stampede On Being Part of the Establishment Disengaged youth and the dilemma of schools losing students to the booming economy On Public Life Peter Lougheed’s cabinet and making the choice not to join it On the Spirit of Alberta Farmers, immigrants and energy On the Boom The social costs and problems surrounding attracting the right leadership On Transit to Fort McMurray Investing in a high speed rail for quality of life On the Government The capacity to get it right On Executive Compensation The next big hot button On Young, High Earners The need for confidence IN PRINT Read the article from the pages of Alberta Venture, Just Fix It, crafted by Fil Fraser from this interview. – The Grey Eminences audio collection is a 12-part, audio series of conversations on today’s business issues with retired leaders in business and public life led by Fil Fraser – Edmonton-based writer, broadcaster, film and television producer, Athabasca University professor and member of the Order of Canada. Oilman Jim Gray on Facing Alberta’s Problems Subscribe to Jim Gray: Grey Eminences podcast Back to Grey Eminences Audio Collection NOW PLAYING: On the Government as Referee On Health Care On Canada First, Alberta Second It’s Time for [...]