The Canadian Small Business Survival Guide: How to Start and Operate Your Own Successful Business Revised and Expanded Edition

Dundurn
Free sample

For anyone contemplating starting a small business with potential sales of a few thousand dollars up to the two million level, and for those who currently run their own businesses, this is the most comprehensive, up-to-date guide available.

The Canadian Small Business Survival Guide will not only instruct beginners whose business knowledge is limited, but also provide a wealth of interesting information for experienced entrepreneurs. The author has covered every imaginable facet of running a successful business. The topics include: types of business, financing, government assistance, locations, franchises, and marketing. One section, presented with step-by-step instructions, explains how to prepare necessary financial statements and business plans. The book also includes charts, checklists, exhibits, graphs, and tables that are indispensable for entrepreneurs and for those seeking a business loan.

  • 10th Printing - over 25,000 sold
  • Most popular book on small business in Canada
  • This edition completely revised and updated - contains new sections on computers and the Internet
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About the author

Benj Gallander, MBA, received his degree from Dalhousie University in Halifax. His practical experience, gained from owning several successful companies and helping to start many others, has been invaluable to him in writing this guide. Benj also writes for The Globe and Mail, and is the editor of the popular investment letter, Contra the Heard.

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Additional Information

Publisher
Dundurn
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Published on
Apr 1, 2002
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Pages
260
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ISBN
9781554880188
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Language
English
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Genres
Business & Economics / Decision-Making & Problem Solving
Business & Economics / Development / Business Development
Business & Economics / General
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Content Protection
This content is DRM free.
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Read Aloud
Available on Android devices
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Eligible for Family Library

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The number-one issue for every entrepreneur is Money—getting money, raising money, convincing investors to give you money. Whether you are a start up, a small to mid-sized enterprise, or a $100-million company, your biggest problem is always money. There is currently a mad rush towards private equity—the new, hot way to get financing—but it remains a mystery to most entrepreneurs and owners/managers of SMEs. Money Magnet unlocks the puzzle of private equity financing and shows how understanding private equity is the first step to growing wealth in your business.

Historically, the most common ways to raise financing for SMEs was through bank loans or through the stock markets. But banks are notoriously risk-averse and conservative in lending to small businesses, and the great bull market is over. For most small and medium sized companies, the small cap public issue market is no longer a viable source of financing. Enter private equity. There are billions of dollars of private equity funds available in Canada and millions of SMEs looking for money, but the two don’t always know how to find one another and, when they do, usually don’t speak the same language. This is the book that explains to business people what private equity financing is, how it works, how and where to find it, how to be successful in attracting it, and all the advantages and disadvantages of raising financing in this way.

Money Magnet is for entrepreneurs in emerging growth companies who are seeking financing and want to explore the benefits of the private equity option. In language that entrepreneurs understand, Jacoline Loewen demystifies the world of private equity in this simple yet comprehensive guide. Money Magnet explains what private equity is and how it works; compares it with traditional sources of financing, such as banks and stock markets; explains the different types of private equity investors (e.g., angels, venture capitalists, fund managers and institutional investors); outlines the benefits and pitfalls; describes how to meet venture capitalists and fund managers; shows how to make a convincing pitch to an investor; reveals what makes investors cringe and what makes them open up their cheque book; provides strategies to deal with the four brutal questions all investors ask; explains in detail the deal process and the deal sheet; gives advice on common conflicts between investors and entrepreneurs and how to manage them; includes a detailed checklist of what an investor wants to know about you and your business; and much more.

The Challenge
Built to Last, the defining management study of the nineties, showed how great companies triumph over time and how long-term sustained performance can be engineered into the DNA of an enterprise from the verybeginning.

But what about the company that is not born with great DNA? How can good companies, mediocre companies, even bad companies achieve enduring greatness?

The Study
For years, this question preyed on the mind of Jim Collins. Are there companies that defy gravity and convert long-term mediocrity or worse into long-term superiority? And if so, what are the universal distinguishing characteristics that cause a company to go from good to great?

The Standards
Using tough benchmarks, Collins and his research team identified a set of elite companies that made the leap to great results and sustained those results for at least fifteen years. How great? After the leap, the good-to-great companies generated cumulative stock returns that beat the general stock market by an average of seven times in fifteen years, better than twice the results delivered by a composite index of the world's greatest companies, including Coca-Cola, Intel, General Electric, and Merck.

The Comparisons
The research team contrasted the good-to-great companies with a carefully selected set of comparison companies that failed to make the leap from good to great. What was different? Why did one set of companies become truly great performers while the other set remained only good?

Over five years, the team analyzed the histories of all twenty-eight companies in the study. After sifting through mountains of data and thousands of pages of interviews, Collins and his crew discovered the key determinants of greatness -- why some companies make the leap and others don't.

The Findings
The findings of the Good to Great study will surprise many readers and shed light on virtually every area of management strategy and practice. The findings include:

Level 5 Leaders: The research team was shocked to discover the type of leadership required to achieve greatness. The Hedgehog Concept (Simplicity within the Three Circles): To go from good to great requires transcending the curse of competence. A Culture of Discipline: When you combine a culture of discipline with an ethic of entrepreneurship, you get the magical alchemy of great results. Technology Accelerators: Good-to-great companies think differently about the role of technology. The Flywheel and the Doom Loop: Those who launch radical change programs and wrenching restructurings will almost certainly fail to make the leap.

“Some of the key concepts discerned in the study,” comments Jim Collins, "fly in the face of our modern business culture and will, quite frankly, upset some people.”

Perhaps, but who can afford to ignore these findings?

Why is it so hard to make lasting changes in our companies, in our communities, and in our own lives?

The primary obstacle is a conflict that's built into our brains, say Chip and Dan Heath, authors of the critically acclaimed bestseller Made to Stick. Psychologists have discovered that our minds are ruled by two different systems - the rational mind and the emotional mind - that compete for control. The rational mind wants a great beach body; the emotional mind wants that Oreo cookie. The rational mind wants to change something at work; the emotional mind loves the comfort of the existing routine. This tension can doom a change effort - but if it is overcome, change can come quickly.

In Switch, the Heaths show how everyday people - employees and managers, parents and nurses - have united both minds and, as a result, achieved dramatic results:

- The lowly medical interns who managed to defeat an entrenched, decades-old medical practice that was endangering patients
- The home-organizing guru who developed a simple technique for overcoming the dread of housekeeping 
- The manager who transformed a lackadaisical customer-support team into service zealots by removing a standard tool of customer service 

In a compelling, story-driven narrative, the Heaths bring together decades of counterintuitive research in psychology, sociology, and other fields to shed new light on how we can effect transformative change. Switch shows that successful changes follow a pattern, a pattern you can use to make the changes that matter to you, whether your interest is in changing the world or changing your waistline.
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