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A unique life lesson experience

Many years ago, before smartphone were invented, I was visiting with my boss Disney World in Orlando, Florida. We had won a corporate award to visit the US. Halfway through the day, he noticed that he had lost his camera. We were not sure, when and where he inadvertently left it. We went back on our tracks in an attempt to find the camera, but with no success. My boss was discouraged and sad as the camera was expensive. I halted the “pity party” by suggesting we go to the Lost and Found service desk and inquire. He said, Hugh, we are with thousands of people in this huge place and this “was” a real expensive and nice camera. You are very naïve to think someone will return it, to which I replied, let’s just go and inquire. No harm in trying. 

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Three suggested solutions ... simple but not easy

As we approach Christmas, Hanukkah and New Year holidays, we have a postal strike timed during a most busy period when many Canadians businesses and households still rely on Canada Post to serve them. Very bad timing from Canada Post, an Agent Crown Corporation of our Federal government. On one hand the Federal Government is relieving the GST/HST for 2 months to help Canadians and on the other hand its own Crown corporation is causing adverse help on Canadian business and households.   

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Trying to reach a live person to answer the phone in most large organisations has been accepted to be an exceptional event. Be it a bank, a hospital, a telephone company, a retailer, whatever... all have installed the automated systems with which we are familiar. Thank you for calling but please go to our website. While the automated systems were mostly reserved to large organisations, the automation is expanding to SME’s (small and medium size businesses) – whom I assume – are thinking if the big companies do it, we should do it too. Making the transfer to an automated system is easy today with “cloud based” software services that are readily available and priced at a budget monthly cost. The technology and the monthly budget pricing is tempting but is it the right thing to do?

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Start with these seven questions

A big component of designing successful strategies must include the ability to predict the future, hence the numerous articles, research and studies at year-end that usually attempt to list the key business trends and how to leverage the changes that will most likely transform the business arena.

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An Urgent Call to Action

In 2024, my spouse and I will celebrate 50 years in Canada! I remember landing in Montreal with my sweetheart in 1974 and seeing for the first time the automatic self-opening doors at the airport, which magically opened, and let us out without going through immigration and customs. I am not too sure how this happened! We later had to visit the immigration office to explain what occurred and get our landed immigrant papers in order. Our arrival also coincided with the first major snow storm. Coming from sand, palm trees, and + 34º C to white snow covering everything and – 20º C needed some adjustment, to say the least. Friends had to show us a covered swimming pool and assured us that the weather will be hot one day and we would be able to enjoy swimming outdoors in the summer. I also remember our Canadian Citizenship ceremony and how proud we were coming out of the event. Fifty years later, we are still enormously proud to be Canadian, and immensely grateful that we have chosen Canada, and that Canada has chosen us.

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What’s inside that’s sure to come in handy one day?

I love backpacks. I find them very practical to carry all kind of stuff while keeping both hands free. My backpack carries many of my personal items and doubles as my mobile on-the-go-office. My backpack serves me well not only for my everyday needs, but also as a great “friend” when traveling for business or pleasure. It can do a good job whether I am traveling by plane, train or car; it can hide away easily under a boardroom table or survive the heat and salty water of a sandy beach.

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For your morning smile and reflection...

According to recent research, people who are intentionally grateful for what they have report better sleep, fewer symptoms of illness, and more happiness. I could not agree more with these findings. Making the best of what we have, beats complaining about what we don’t have!

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Seven Key Points

When successful entrepreneurs and owners of private companies look to exit their business either by passing on the baton to a new generation or selling to an external party, they often approach the exit strategy with somewhat little planning and a lot of emotions. They rely on their experience, leadership skills, and proven success over the years. While these attributes are required for leading a business, such expertise usually doesn’t include knowing how to sell a business.

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Owner or steward?

Succession planning for private companies and family-owned businesses can be compared to a relay race, a track-and-field sport where team members pass on the baton to another team member. Passing the baton is a delicate moment, contributing significantly to winning the race. Passing the leadership “torch” to a new generation, whether family members or external new owners, also requires a certain amount of delicacy. The task is not an easy assignment. Even with good preparation there is no guarantee of a successful succession.

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In a previous BLOG (Turnover Lessons) I discussed the importance of calculating the yearly employee turn-over rate, which is often not calculated by companies large and small. Reducing employee turn-over is not only a cost saving, but is tied to a more productive, quality oriented, engaged, customer focused team, which should ultimately translate in a more profitable business.

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