Top5issues(ontario)

Top 5 issues affec-ng Ontario business A report for Ontario’s business community

As prepared by

Introduc6on

With the biggest recession in our history star-ng to fade away, business owners are now looking for ways to build sales and drive growth.

Over the last three months we’ve spoken to over 50 Ontario business owners about what their greatest challenges are moving forward. The businesses ranged from small two and three person firms to large mul--‐million dollar corpora-ons.

From these conversa-ons we’ve iden-fied five key focus areas that will be most important for not only survival, but for future growth.

This report also includes valuable informa-on to capitalize on these new opportuni-es.

It is our inten6on to pass these resources on to you in order to give you a compe66ve edge in your marketplace.

There is a new speed to business.

Are you ready?

Triggerstrategies.ca

What Ontario’s business owners have told us.

AGer hundreds of hours of discussion with dozens of Ontario business owners and senior managers, we have iden-fied the top five business issues facing Ontario businesses.

1. Finding and keeping the right people 2. Business development 3. Customer reten6on 4. Sustainability 5. Accountability

Each of these is cri-cal to the future of every Ontario business.

This report covers:

-‐ How each issue can affect your business -‐ The impact of non ac6on -‐ Ac6on steps you can take right away


Issue #1 – Finding and keeping the right people

Ontario businesses spend millions every year trying to find and keep the right employees.

We’re sure you will agree that you will not be able to grow your business on your own. Just as your customers, the economy, your vendors and your business have changed; the same rule applies to you and your team. The business owners we spoke with said that handling change and engaging their people is one of the toughest yet overlooked parts of growing their businesses.

Recent Canadian studies show that as many as 83% of employees do not feel engaged with the organiza-onal direc-on and goals. Coupled with local unemployment rates reaching as high as 12%, you can imagine people’s apathy and fear of the unknown. Your number one job as an owner is keeping people engaged. The rules have changed.

The effect on your business The people side of business is oGen referred to as the soG side of business. Right now, it’s the hardest part of business. In our recent keynotes, we have been quoted to have said, “If your people are not changing faster than your customers expecta-ons, you’re in a lot of trouble.”

Just ask any sales person how tough it is to get aZen-on and shorten the sales cycle using tradi-onal methods. We are sure you’ll agree with our statement when it comes to building your results using the same old techniques.


Issue #1 – Finding and keeping the right people

The impact of non-‐ac-on Loss of ac-on means more -me spent in problem solving and loss of innova-on. A business will never grow when they are reac-onary and problem solving. Companies out on the edge spend more -me on innova-on. The people side of your business can no longer be constrained to vague human resource theories. The best companies we talked with today are involving all levels of owners, management and staff in vision, strategy, planning and execu-on.

Ge]ng started Effec-ve immediately, begin to involve everyone in your organiza-on in dialogue around commitments, expecta-ons, ac-ons and accountability.

Ac-on Steps Develop a strategic vision and goals that involve everyone contribu-ng at a higher level. Get the vision off of the office wall and into daily language. During our conversa-ons we revealed that there is a prominent expecta-ons gap. This means that what people feel is expected of them does not match what the boss expects of them. Begin to create robust dialogue around clear expecta-ons and business contribu-on.

Involve everyone in the organiza-on in understanding the business the way you do. This is not about sharing confiden-al financials; it’s about allowing people to clearly understand their contribu-on and its impact on your customers, your business and your compe-tors.

Once the organiza-on has defined its vision and strategy, have every key leader in your organiza-on develop a vision and strategy and three key execu-on goals of their own that supports the same as the organiza-on.

Do you have the right people?

Are they in the right job?


Issue #2 – Business Development

“Nothing happens un-l someone sells something.”

That’s an old quote, but it’s more true today than ever before. AGer a recession, especially the one we’re coming out of, the first thing on the mind of most of the business owner’s we talked to is increasing sales. But that’s not as easy as it used to be.

The owners we spoke with said: 1.  I’m facing more compe--on than ever before. 2.  I’m being forced to compete more and more on price. 3.  My marke-ng and adver-sing are not providing consistent returns. 4.  It’s harder to stand out and get someone’s aZen-on. 5.  I don’t know what’s working and what isn’t. There are too many

choices – which one’s are the right one’s. 6.  My phone has stopped ringing and my order takers need to learn how

to sell.

The effect on your business This market environment is not going away. Technology has enabled anyone to compete anywhere. Your customers have access to more informa-on and more choices that ever before.

So the ques6on becomes, what makes you stand out?


Issue #2 – Business Development

The impact of non-‐ac-on By remaining a “me-‐too” company, you’re leaving too much to chance that your customers will stay with you. Just as Apple reinvented compu-ng and Cirque du Soleil reinvented the circus, how are you reinven-ng your business and industry?

A number of the owners we spoke with are re-‐evalua-ng their companies’ offerings and crea-ng new and beZer ways to serve their markets.

Ge]ng started As of today stop talking about your products and services, and start selling value.

Ac-on Steps 1.  Understand your customers. Find out what is truly important to them

and deliver it on a consistent basis. 2.  Determine how you show up in your customer’s mind? How are you

perceived vs. your compe-tors? 3.  What can you deliver to your customers and market beZer than

anyone else? Be realis-c and ensure you can live up to the promise.

Find this out. Please do not assume you know; there is too much at risk.

Why should someone buy from

you?


Issue #3 – Customer Reten6on

How many customers did you lose this week? That’s a valid ques-on. The owners we spoke with stated that they’re facing significant increases in compe--on and price shopping. Plus they say their customers are more intelligent and web savvy than ever before.

Some of the owners we spoke with said that their greatest opportunity to stabilize cash flow was reconnec-ng with exis-ng customers. Are yours being wooed away by your compe-tors? Do you know who your best customers are?

At the same -me other owners we spoke with admiZed to being too internally focused on cash flow and cost cu]ng; that they’ve lost touch with their best customers. Does this describe you?

Most marke-ng and sales budgets focus on new customer acquisi-on, but it should also focus on reten-on and growth of your exis-ng and best customers.

The effect on your business Right now you could have a 20-‐30% sales increase just by conduc-ng an aggressive re-‐connec-on campaign with your customers. They may have forgoZen all that you do, or they may be ready to re-‐ini-ate projects that were on hold because of their own cash flow concerns.

The impact of non-‐ac-on You have the opportunity to grow your business by design, not circumstance. The recession is fading, and the best -me to become even more valuable to your customers is when they need you the most.


Issue #3 – Customer Reten6on

Ge]ng started Effec-ve today, make a conscious decision to re-‐connect with as many of your customers as you can.

Ac-on Steps

Moments of Truth 1.  Iden-fy every customer touch point 2.  Determine the expected level of service for each 3.  Hold your people accountable to deliver it every -me

Client Focus Mee6ng 1.  Get 6-‐10 of your customers in the same room 2.  Have your key people in the room as well 3.  Have an open and honest dialogue about how you serve them 4.  Shut up and listen. Take great notes and act

How can you become invaluable to your customers?


Issue #4 – Sustainability

Many of the owners we talked with, felt that the future of the company was squarely placed on their shoulders. For your company to truly grow and prosper, you need a team approach to developing your future leaders and business thinkers. Who in your company is thinking like you?

This means more than one day obscure training and leadership development programs. This is about crea-ng a true learning organiza-on, where individuals hold themselves accountable for business skills and acumen development.

The effect on your business You create a culture where ongoing development is the norm, not a yearly budget item. People begin to respond how they’ve improved their game daily. Please do not take this lightly; this is what the best companies we’ve talked with are doing.

The impact of non-‐ac-on In the absence of clear development goals and roles people will play in the future, your chances of disengagement are very high. People want to work for a company where they’re recognized for their contribu-on and they’re challenged to learn and grow.

P.S. the typical response of “I’m too busy to do this”, has nothing to do with growing a company.


Issue #4 – Sustainability

Ge]ng started Effec-ve immediately, every key individual in your company writes out a learning and development plan for the next 12 months.

Ac-on Steps By the way – the business will get beZer when its people get beZer. People get beZer immediately aGer their leader get beZer. That means you… lead by example.

1.  What are the things you’re doing now that you want people to replicate in your organiza-on?

2.  How are you challenging them to raise the bar? 3.  Is this part of your culture?

These are fair ques-ons to ask.

Draw on your collec6ve strengths.


Issue #5 – Accountability

One of our favorite lines is “never fire someone for making a mistake, however, fire someone on the spot for not doing what they say they’re going to do.”

During our conversa-ons we asked about coaching and being held accountable. Many of the owners we spoke with said that they ini-ally resisted those types of conversa-ons. But upon hi]ng breakthrough goals, they sited coaching as an integral part of their success.

The effect on your business There are only two reasons for failure: a deficiency of knowledge (you don’t know what to do), or a deficiency of execu-on (you don’t do what you know you should do). It is that simple.

Take a look at your business. Are you constantly derailed because you’re pu]ng out fires and doing the things other people are supposed to be doing?

The successful leaders we spoke with spend more -me working on their business instead of in it.

The impact of non-‐ac-on How much longer are you going to keep doing everyone else’s job?

Accountability starts with you.


Issue #5 – Accountability

Ge]ng started Effec-ve immediately hold your people accountable and stop allowing excuses. Take a stand on this.

Ac-on Steps 3-‐2-‐1 Formula – Incorporate this into your workplace. If someone approaches you with a problem they are to: 1.  Provide you with 3 solu-ons 2.  Two of which include them 3.  And what they feel is the number 1 solu-on

This simple formula has produced incredible results for many of the business owners we work with.

Are you working in your business or on your business?


So what do you do now?

It’s all about ac-on.

The biggest thing we learned is if you wait for the perfect moment, person or situa-on you will get leG behind. Guaranteed. The speed of business is increasing.

A high number of the owners we spoke with regreZed wai-ng to make cri-cal decisions about growth and people. They felt that this has caused significant harm to the speed of their recovery from the recession.

Star-ng today please think about your business differently.

1.  Begin to involve everyone in your organiza-on in dialogue around commitment, ac-on and accountability.

2.  Stop talking about products and services and start selling value. 3.  Re-‐connect with your exis-ng customers today 4.  Iden-fy the leaders within your organiza-on and give them clear roles 5.  Create a culture of accountability and follow-‐up

All business is created through conversa6on. If you keep having the same conversa6ons you will undoubtedly get the same results.

What conversa6ons are you having?


How urgent is this to you?

Are you ready to make a

commitment?

A few of the companies we work with

Ironworks Exocor Mountainview Homes Niagara Parks Commission Cataract Savings & Credit Union Rogers Link Wireless Brand Blvd. Canadian Tire Rinaldi Homes Boldt Pools Meridian Credit Union Renaissance Fallsview Hotel Handling Specialty Mfg. Ltd. Horizon U-li-es Hy-‐Grade Precast Janco Steel Ltd. Ministry of Transporta-on of Ontario Niagara CliGon Group Regional Municipality of Niagara Salit Steel Seaway Marine & Industrial Inc. Skylon Tower Sobey’s TRW Canada Limited Vintage Hotels

Benefit Partners Corporate Chemicals For-s Ontario Tremont Yacht Furniture Dell Smart Home Solu-ons Erie Personnel Corpora-on Glenn MerriZ Collision Dominion Auto Body Bea-es Basics CRL Campbell Construc-on Cedarway Floral Primeway Companies Desjardins Caisse Populaire Aquatrue Water Bosch Rexroth Canada Corp Design Electronics F-‐B Tool & Die Limited Giro] Machine Homes by Hendricks Millers Auto Recycling Modern Mosaic Regional Doors & Hardware Sheehan & Rosie Ltd. SVAT Electronics Vermeer’s Greenhouses Weinmann Electric


What they’re saying about us

Their service and crea<vity has brought value to our company in terms of increased market share and profitability. We are very pleased with the work they have done for us.

David G. Benny, CEO Cataract Savings & Credit Union

This has been an absolute worthwhile experience. Why? Coaching emphasizes real life, common sense principles and transforms them into a logical framework. Our coach challenged each one of us to establish real goals (in my case, business goals) and applying the tools to achieve these goals. And the results are "real". My successes are all about focus, accountability and discipline leading to real results.

Roch Lafontaine,Manager Business Accounts Desjardins Caisse Populaire

The coaching experience allowed me to uncover myself and to challenge the things that hold me back. I am more open and willing to take on the challenges of life and to have more confidence in my ability to achieve my dreams and succeed no maLer what happens. It helped me have 2 consecu<ve successful years in my financial planning career where I exceeded my annual goals by over 125%.

Andre Sarkis, Financial Planner RBC


What they’re saying about us

Coaching has allowed people to harness skills in managing all of our business objec<ves. Managers who have completed the coaching have naturally climbed to the highest levels of execu<on in the organiza<on. In the end, the boLom line improvement to this hotel is up 20% and climbing. We will and are achieving results above expecta<ons!

Jeff Ransome, General Manager Marrio^ Halifax

I can actually say that while I was involved in coaching I had a 4 <mes return on my investment. On one order we saved 7200 dollars. I take a lot of risks, however I some<mes lack finesse. Coaching has given me the tools to have much more finesse injected into my sales calls and my everyday interac<ons with other people. The most important thing that was learned from the coaching was how to stop worrying. The tools I received have taught me how to deal with stress in a much more manageable way. You have a unique process that to me is more valuable than my four years earning my B.A. in Law.

ScoD Boisvert, Owner The Elegant Vending Company


About the authors

We’ve worked with over 500 companies in Ontario, and we keep ge]ng invited back to help them achieve even more.

We’ve helped them: 1.  Develop a clear and executable vision and strategy 2.  Find and keep great employees 3.  BeZer understand their customers buying process 4.  Make their communica-ons with both customers and employees clear

and impacqul

But most importantly we’ve helped them grow.

We’re about ac-on and producing results, not theories and seminars. If you’re ready for new conversa-ons, new ideas, new tools and beZer results than you’re ge]ng today, let’s talk.

Trigger Strategies


Larry Anderson Trigger Strategies Direct: (905) 321-2663

Neil Thornton Trigger Strategies Direct: (905) 401-1434

Top5issues(ontario)

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