Wealth Management
November 22, 2009
Horror movie
November 18, 2009
Take a leaf out of Wal-Mart's play book
Wal-Mart’s growth got everyone excited until you see that the increase in revenues is from their growth in Asia. Before you get all depressed, learn from the winners in business. That translates to - Take a leaf out of Wal-Mart’s book.
Your strategy needs to include Asia.
Now again, do not get in a panic because this seems so enormous. Start by planning to take a Chinese or Indian business connection to dinner. Talk about your business. Could this person tell you about a similar business in China? Could they introduce you to someone there? You do not have to fly over there either; you can use Skype video conference.
Maybe explore if you could set up a relationship where you could list their phone number on your brochure? You might never do any business or get any referrals, but think about how your brochure would look with “Offices in Toronto – Beijing – Bombay”. Then if your clients needed a connection in those countries, you have a referral point and at the same time, you are beginning to have Asia in your company.
Business is baby steps.
A client of mine, manufactures and distributes light bulbs. He lives in Montreal and twenty years ago he did just that – took a Chinese buddy to dinner. This contact introduced him to a manufacturer in China and the business relationship grew. The Montreal business owner began small. Today, this Montreal light bulb company is the largest supplier to Wal-Mart of green light bulbs. See...baby steps. Make a call today and have dinner with an Asian buddy.
Jacoline Loewen, strategy consulting, Loewen & Partners.
Jacoline Loewen, private equity expert, author of Money Magnet, panel of CBC show - Dollar Signs with Dianne Buckner on at 1:30 Saturdays.
November 17, 2009
Does OPEC mean Canadian busineses should shift away from the USA?
OPEC is holding a big summit this weekend. Does this mean Canadian companies should swing away from America and look to Asia as their main trading partner?
America is still the largest economy in the world and will continue to be a great marketplace. No question, American entrepreneurs are beaten down psychologically right now. I am working with clients to do acquisitions there and they are keen to do business. it is worth taking a re-look.
But also, no doubt that Asia must be in every business owners’ strategy. That can mean the business owner plans to have on their "To Do" list to make one Asian connection. This could be by using Linkedin (Facebook for business) to chat with Asian connections or join an Asian Business Group.
All big business started with one single human conversation.
Tell your City councellor to organize a summit – call it Asian Business Summit.
November 14, 2009
Do we need a job summit?
With the job loss figures out, does Canada need a Job Summit? Obama will be holding a job summit, what about here in Canada?
Turns out that our Our Canadian government has been doing a great deal to support job growth for years. Obama needs a better marketing expert because it should be called Entrepreneur Summit or Small Business Summit because these are the sustainable jobs that grow a country’s future wealth.
Our government is sending junkets to India where our entrepreneurs can meet Indian business owners interested in Canada and the trade consulate to smooth the way. In addition, we have the Export Development Corporation (EDC) which helps even further.
One of my clients has begun to sell motors to China and it is stretching his cash flow. His bank would not take on that risk. Quite right. The EDC, though, worked with the business owner and his business plan and backed 80% of the loan. Then the bank was confident that the risk was better and gave the loan. The entrepreneur has the comfort that the risk of doing business in China will not bankrupt him and now he can take the small steps to grow.
The government gave CYBF $20 million. I work with this foundation and we give loans of $10,000 to young entrepreneurs along with a mentor. Many of those entrepreneurs went on Dragons’ Den and got deals with the Dragons and those create good jobs for businesses.
Jacoline Loewen, private equity expert, author of Money Magnet, panel of CBC show - Dollar Signs with Dianne Buckner on at 1:30 Saturdays.
Does our Canadian Government need to do a job summit like Obama?
With the job loss figures out, does Canada need a Job Summit? Obama will be holding a job summit, what about here in Canada?
Turns out that our Canadian government has been doing a great deal to support job growth for years. Except our government recognizes that jobs come from small and mid-sized businesses, not government. Obama needs a better marketing expert because his Job Summit should actually be called Entrepreneur Summit or Small Business Summit because these are the sustainable jobs that grow a country’s future wealth.
Our Canadian government is sending junkets to India where our entrepreneurs can meet Indian business owners interested in Canada and the trade consulate to smooth the way. In addition, we have the Export Development Corporation (EDC) which helps even further by guaranteeing 80% of bank loans for export cash flow. Entrepreneurs appreciate the risk being carried by government, and banks love it because they can continue providing cash but with an 80% reduction in risk. Canadians appreciate it because this government support means jobs for Canadians. How great is that synergy?
One of my clients has begun to sell motors to China and it is stretching his cash flow. His bank would not take on that risk. Quite right. The EDC, though, worked with the business owner and his business plan and backed 80% of the loan. Then the bank was confident that the risk was better and gave the loan. The entrepreneur has the comfort that the risk of doing business in China will not bankrupt him and now he can take the small steps to grow.
The government gave CYBF $20 million. I work with this foundation and we give loans of $10,000 to young entrepreneurs along with a mentor. Many of those entrepreneurs went on Dragons’ Den and got deals with the Dragons and those create good jobs for businesses. Thanks to our government. I was at a business summit in Toronto and heard Tony Clement say, "We in the government want to help business and then get the hell out of the way."
Sounds good, Tony! I think the government s doing a great job and this is one entrepreneur who appreciates it.
Jacoline Loewen, private equity expert, author of Money Magnet, panel of CBC show - Dollar Signs with Dianne Buckner on at 1:30 Saturdays.