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Will your foreign customer pay? Find out with an online EDC Opinion Report.
 
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May 8-21, 2008 Vol. 5, No. 9

Finance: Extreme debt-collection tactics that work

Great Ideas: Go deeper in your networking

Growth Strategies: Time to play in a bigger sandbox

News: Small business owners unprepared for a slump

Peer-to-Peer: “I’m terrible at hiring!”

About PROFIT-Xtra


Finance

How to make bad customers pay
Have you been stiffed by a customer, with no apparent hope of ever collecting payment? Then consider the extreme but effective tactics of Doug, the bounty hunter.

FULL STORY


Upcoming Events

SELL MORE!

If you run a young, fast-growing Canadian company, then you belong on the PROFIT HOT 50. Now in its 9th year, the PROFIT HOT 50 is the definitive list of Canada’s Emerging Growth Companies, ranked by two-year revenue growth. It generates local and national publicity that can help you inspire your staff, attract new clients and investors, and trigger new relationships with other companies. And winning CEOs receive a free pass to GrowthCamp, an exclusive three-day summit where HOT 50 leaders share ideas, learn from experts and make valuable new contacts. Past winners have called it the best business event they’ve ever attended.

If your firm was founded in 2004 or 2005, and is growing fast, then enter the PROFIT HOT 50 today!

Enter at www.profitguide.com/hot50ballot. For more information, visit www.profitguide.com/hot50 or call
1-800-713-GROW.


Great Ideas

Go deeper in your networking
A truly valuable business network is about more than the sheer number of connections you make. You need to go beyond the superficial, to develop meaningful business relationships with people who you’ll be able to count on when you really need help. In The Connect Effect,executive networker Michael Dulworth suggests four ways you can take your business relationships to the next level.

FULL STORY


Advertisement

Why Innovators Alliance?
"Entrepreneurship is very rewarding, but also extremely challenging. Fast-growing companies run into challenges every day and new challenges on a regular basis, regardless of the sector you are operating in. It’s tough; often it’s lonely and difficult. But you are not alone. Innovators Alliance (IA) members are making key decisions on behalf of their companies, or have already addressed similar critical issues. I don't know where you can draw upon such a wealth of experience from individuals whose primary motivation is to learn from one another. As your peer, they can and will help." —Peter Allen, Electrical Contacts Ltd., IA Kitchener-Waterloo Chapter
 
Learn more at http://www.innovators.org/docs/IAMembershippdfJune07.pdf

Visit us at www.innovators.org or call 1-877-799-5001, x24 for more information on the next Ontario regional IA peer meeting in your area.


Growth Strategies

Time to play in a bigger sandbox
“If it ain’t broke, don’t fix it” is a motto many businesses follow. Whether it’s what they sell, how they sell it or even the customers they target, too often companies get stuck inside a box. Roger Hardy, the chairman, president and CEO of Coastal Contacts, one of the world’s biggest online sellers of contact lenses, argues that to keep growing you have to challenge your team to look for larger sandboxes to play in. Here he explains how his online contact lens retailer broke out of its sandbox and tapped into a massive new revenue stream.

FULL STORY


Podcast

What's your powerline?
If you’re like most business owners who’ve ever tried to write a marketing tagline for your company, you know that the process is a lot harder than it sounds. What are some examples of good powerlines, and which elements make up an effective tagline? In episode 24 of the Business Coach podcast, host and PROFIT editor Ian Portsmouth speaks with Steve Cone, a 35-year marketing veteran and author of a new book, POWERLINES, to discuss these and other pertinent questions related to creating a great powerline. Don't miss this revealing episode and many others at PROFITguide.com.
 
LISTEN NOW


News

Small business owners unprepared for a slump
A poll of small business owners for BMO Bank of Montreal shows that most are so optimistic about the Canadian economy they haven’t even bothered to develop a contingency plan for a downturn.

FULL STORY


Upcoming Events

SELL MORE!

If you missed SELL MORE! PROFIT’s Online Sales Summit, you’re not too late! For a limited time, you can access great tips, strategies and resources that will help you grow your sales—and your customer relationships

Register NOW at www.PROFITguide.com/salessummit.


Peer-to-Peer

"I’m terrible at hiring!"
Last issue, the president of an Edmonton-based company wrote to ask PROFIT-Xtra readers:

“The last few employees I’ve hired have not worked out. One was chronically late and unproductive, and another actually stole from me! I have a technical background and maybe I’m not the best judge of character. But as a small business owner, I don’t have enough money to hire a recruiter or a human-resources person. What are some inexpensive ways to better assess job candidates?”

Read the best answers here.

Have a question for your fellow entrepreneurs? Send it to Peer-to-Peer.


About Profit Xtra

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PROFIT: Your Guide To Business Success
One Mount Pleasant Rd., 11th floor, Toronto, Ont. M4Y 2Y5
Phone: (416) 764-1402
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Editor: Ian Portsmouth

Managing Editors: Jim McElgunn and Kim Shiffman

Publisher: Deborah Rosser

Advertising Director Online, Consumer Sales: Jennifer Sage

Questions, comments or story ideas? Please contact PROFIT-Xtra.

ISSN # 1712-1701 PROFIT-Xtra

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