TELUS and the Globe and Mail want to give you $100,000. All you have to do is explain what your biggest business challenge is and how $100,000 would help you solve it. A panel of business experts will review every entry, and if the most compelling is yours, you’ll win $100,000 courtesy of TELUS.
TELUS asked me to come up with my top 10 list of where I think the money would be most effective for entrepreneurs so here goes. I'd love to hear your thoughts if you leave a comment below!
To see Part 1 of this post from last week please click here.
6) Get some help
If you want your business to really grow then you're going to have to look at bringing on other people to help you. The right tools and technology will give you some time back in your day but if it's just you in your company then you're always going to be limited by how many hours you have. You may not have the budget to hire someone full time but you can look at alternative ways to bring people on board. The goal here is offload some of the work you're doing to someone else so that you can focus on higher priority projects.
The first person I hired was for 1 hour a per day. I didn't have much money at that time and couldn't afford to pay any more but that gave me one more hour in my day to do other work and grow my business. I've hired people part time using services like Elance and oDesk where you can get people to work on a project by project basis or by the hour. I've also had high school, university, and foreign language interns work for me until I was able to afford to pay more. Two of the people I have on my team now came from these internship programs so it's a great way to find talent as well so don't get stuck thinking you don't have the budget to hire someone full time and stop your search
7) Join / start a Mastermind group
Running a business can be a very lonely game. Our friends and families might want to help us but they often don't know how to because they don't have the experience. So who can you turn to for advice? A great resource I've found is Mastermind groups. These are basically groups of entrepreneurs who get together on a regular basis and try to help each other out. There's no selling or traditional "networking" involved, it's just business owners trying to give advice to each other and see all the businesses grow.
I run a group for Toronto entrepreneurs who are beyond the startup stage. We meet once per month and have accountability sessions in between to make sure you're staying on target. Just being around other entrepreneurs can be a big motivational boost and I always get ideas to help my business grow. Most mastermind groups have some sort of membership fee attached to it but if you can't find one that suits your needs, why not start you own?
8) Get in the press
Getting in the media can be a great way to gain exposure for your business - it can be a little time consuming but is way cheaper than advertising. Think about it - when you read a magazine or newspaper do you pay more attention to the ads or the stories? Reporters are always looking for experts to comment on their stories - why can't you be the expert for your industry?
All you have to do is create a media list of reporters in your industry and provide them with story ideas or comments on news items - don't pitch your product or company, they don't care. Think about how you can benefit their readers and they'll give you all the promotion you need. I've also used services like PR Leads which sends you daily emails from reporters who are looking for experts to provide their opinions. It's gotten me into the New York Times and Forbes magazine, among others. If you still have some budget left over you can consider looking at a PR agency to help get you even more exposure.
9) Invest back into your products and services
If you want to build a business that is sustainable and can thrive for years to come then you need to be continually investing into your products and services and looking for ways to offer move value to your customers.
Survey your clients, find out what their top problems are. See if you can provide a new solution that will help get rid of those problems for them. As the world evolves your customers will have new needs and you'll have the opportunity to find better ways to help them. Never take your eye off the future of your business. It's the companies who are investing today that are going to be dominating in the years to come.
10) Boost your productivity
It's amazing how much time technology can save us - it's all a matter of finding the right tools to do the job. You only have so many hours in the day to get work done and you should invest in the tools that can help you leverage your time as much as possible.
Some of my favourite tools are: TimeTrade to book meetings / calls, DropBox to share files and folders with colleagues, and ScanSnap with Evernote to go paperless and have all your receipts, contracts, and agreements available via full text recognition searches (watch this video). I also love LastPass which automatically remembers all the passwords you have for any website and email plugins for Gmail (Rapportive) / Outlook (Xobni) to show you information on the people who email you.
Win $100,000 contest
If you want to enter the contest and have a chance to win $100,000 from TELUS go tohttp://www.theglobeandmail.com/report-on-business/your-business/grow/the-challenge/contest/.
Explain the biggest challenge your business faces today and how a $100,000 grant would help you overcome it. Their panel of business experts will review every entry, and if the most compelling is yours, you’ll win $100,000 courtesy of TELUS. Plus, your company will be profiled in the pages of the Report on Business.
How would you spend $100,000 to grow your business? Which of my top 10 list do you like / dislike the most? I'd love to hear your thoughts if you leave a comment below!
Evan Carmichael created http://www.EvanCarmichael.com with the goal to give entrepreneurs the motivation to follow their passion and the strategies they need to succeed. So far, EvanCarmichael.com has helped over 14 million entrepreneurs and Evan is a regular contributor on various business websites including Telus Talks Business.










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