Last Thursday night, Yaletown Roundhouse hosted An Evening with the Dragons’ Den and I once again had the pleasure to be part of an audience that no doubt left the theatre feeling inspired to do what they are passionate about: running a successful business.

Photo: Jim Treliving, surrounded by fans of Dragons' Den

The evening, similar to last year’s, began with a conversation between executive producer Tracie Tighe and main Dragon Jim Treliving, who, due to exposure on Dragons’ Den, is now well known to the public as an ex-RCMP that is today the owner of Boston Pizza International Inc.  Although sometimes, he is known to a younger generation as “Mr. Pizza Guy.”  This was in reference to a story that Jim told when asked by Tracie why he continues to return to Dragons’ Den.  On his flight from Toronto to Vancouver, Jim recalls a 10 year old boy on the plane who greeted him with “Hi Mr. Pizza Guy.”  He later found out that this boy watches every episode of Dragons’ Den with his family.  As long as he is inspiring people, Jim says, he will return to the show season after season.

Dragons’ Den is all about inspiration.  Many people have ideas.  Some people have the financing to make something out of those ideas.  But what I believe is sometimes lacking is the inspiration and belief that they can build on their ideas and become a success.  This is why I tremendously enjoyed the evening because as I looked at the faces around me listening to two successful entrepreneurs describe their Dragons’ Den experience, I can feel the sparks ignite within the crowd.

Photo: Panel discussion with Tracie Tighe (L), Jim Treliving (C), and Brad Friesen (R)

The evening’s two special guests were Brad Friesen and Margot Woodworth.  Brad Friesen is the owner of Last Call, a hangover remedy served in a unique, patented bottle and with a delivery system like you’ve never seen before. The ingredients are stored in a twist cap that only gets released with a twisting action.  I admire Brad’s innovative idea.  For the lack of a better word, it was cool and environmentally friendly.  The whole idea is to ship the bottles that contain only the ingredients in the cap.  Bottles without water mean less fossil-fuel required to deliver them.  Plus, the cap can be recycled once used.  In his segment, Brad offered these tips for a successful pitch on Dragons’ Den:

• Know your numbers.  Know all aspects of your business because the Dragons will only invest in people who know what they are doing.
• Practice your pitch before appearing on the show.  You will likely be steered off your pitch but you still need to deliver.
• Be prepared for absolutely everything.  With a 5-person panel, you never know where the discussion will take you. 

Next up was a business owner with a unique party favour. Margot Woodworth is the owner of Evergreen Memories, a business that offers tree seedlings as wedding favors, gifts for corporate events and many different occasions.  These little trees are packaged in bags that act as a greenhouse, allowing them to survive for two weeks without being planted.  Here are some of Margot’s tips to survive a face-to-face meeting with the Dragons:

• Know your numbers. Just like Brad, Margot hired an accountant to make sure that she has her numbers right. 
• Be prepared and practice your pitch. It’s a good idea to come up with an opening line to capture the Dragons’ attention.  For Margot, hers was “Money does grow on trees.”
• Show your passion and be proud of it. 

What I took away from the event was that you really need more than just an idea to be successful. You need a prototype. You need to do your research. You need to make sure that what you have is what people want.  And you also need a business plan and map out how you want to make your business successful.  Most important, you need to have courage to do what you are passionate about.  Starting a business of any kind is daunting but as Margot says it best, “Sometimes you just have to do it.”

Brian Chan has been with TELUS for more than five years and specializes in small and medium business.

Spring is around the corner, which often means family vacations, road trips with friends and traveling more for business.

A GPS navigation unit in your vehicle can help you get to where you’re going quickly, accurately and safely – but not everyone wants to spend $100 or more for a good GPS nav unit or $50 for GPS smartphone software.

Guess what – you don’t have to pay anything at all.

A downloadable app called Navfree GPS Live Canada is the first free professional GPS navigation software for iPhone and iPad.

While not flawless, you’d be surprised how good this no-cost app is.

Navfree Canada from Geolife Ltd. gives you 2D and 3D maps (for the entire country), voice-based turn-by-turn instructions (so you don’t need to look at the screen), points of interest (such as restaurants, hotels, gas stations and tourist sites) as well as live Google Search (to find many other nearby places you might be interested in).

Unless you do a Google search, which requires a wireless connection, no data is used up for this GPS app as the maps are stored on your device.

Navfree uses map data from OpenStreetMap.org — often referred to as the "Wikipedia of map software" — as more than a quarter-million people contributed to it over the years. Therefore, there’s no cost to use the product, it’s continuously updated and you, too, can add to the map, as well, right from within the app.

The interface is quite clean, too. Aside from typing the word "Ontario" where it says "State" (er, this is the Canadian version of the software, so why not "Province"?), Navfree found the five addresses I typed in – in Toronto, Mississauga, Richmond Hill and Barrie – without a hitch. At least you can change "Miles" to "Kilometres" in the map's settings screen.

By default, it’s a British woman's voice but you can change it to other male and female voices and languages, too, if you like (15 in total, including French, Spanish, German, Italian, Dutch, and more). Note: It doesn’t say street names, but will tell you when to turn, such as in "1.2 kilometres or in 200 metres," etc. While hearing the directions you can also use your fingertips on the map to scroll ahead, switch between day and night maps (low glare maps are safer night driving) and even access your music library right from within the map (music fades in and out when the voice directions are playing).

Routing was fast and – for the most part – accurate. In one instance, I was about to hop on Highway 400 North from Woodbridge to drive to Barrie, but it was suggesting to go on Highway 407 east to some point. Huh? So, as with any GPS unit, general knowledge of your area is always helpful. But this was one instance out of an otherwise flawless experience.

Of course if you take a wrong turn or need to go on streets not recommended by the app (perhaps because of an accident or construction), it’ll automatically reroute for you.

Another issue is if you cross the border, you’ll have to close the app and open up Navfree U.S. version as this map is only for Canada. At least it's free, too.

There’s also a Pedestrian mode for when you’re on foot – for instance, it’ll say you can walk in either direction of a one-way street.

Other features of Navfree include the ability to send your route to a friend via email, text message, Facebook or Twitter; you can set a "Home" location to quickly get back to your home; and access a Navfree Store to purchase the "Ad-Free" version of Navfree for $1.99 – though I never saw one advertisement in this free version.

Overall, Navfree is an excellent – and free – GPS solution for iPhone and iPad owners.

TELUS challenged entrepreneurs on the TELUS Business Facebook page to share their best to-the-point and convincing elevator pitch for a chance to win one of two business productivity prize packs. With more than 100 submissions, Jeff Fung was one of the finalists.

Jeff Fung knew the key to successfully launching mylawbid.com was people. He networked at his alma mater, Queen’s University and, later, sponsored the annual conference of the Federation of Asian Lawyers. “We are referral based and relationship-based and that is crucial to our success, even though we are online,” he says. The service allows lawyers to bid on consumer jobs (at no cost to the consumer. No more random, frustrated Googling.) The site, launched in July 2011, is in beta phase, meaning lawyers can sign up for free. (Fung hopes to institute a monthly or annual pay structure by Q2.)

In December, The Globe and Mail’s Small Business LinkedIn group ranked mylawbid.com in the Top 10 “must have resources for entrepreneurs.”

How did you develop the elevator pitch?

I wanted to demonstrate the value of the company to everyday users and I targeted them rather than investors. I believe I can provide services that are useful to individuals and small business that, maybe, aren’t plugged into the legal community and need help finding a lawyer.

When did you start using social media?

We’re still working on our social media strategy. I’ve been using Facebook and LinkedIn since I started. I was experimenting, joining groups on LinkedIn, and I’d post interesting legal articles on FB. I can’t say we’ve perfected it as I’m still learning how to properly approach users. I also joined Twitter last fall. And we’re trying to create instructional and promotional videos for YouTube. I haven’t figured out user acquisition so if you have any ideas I’m all ears!

Many businesses struggle to build their customer base and attract new customers with limited resources. Your advice?

Figure out what you need on your website to attract people and then focus on that before you start spreading the word. We really needed lawyers to respond to people’s inquiries, so our first phase was reaching out to them. We are province-wide and have 100 lawyers in the GTA. (Including Devry Smith Frank LLP, Gardiner Roberts LLP in Toronto and Borden Ladner Gervais LLP in Vancouver.) We also have lawyers in Ottawa, Kingston, Kitchener-Waterloo and Smith’s Falls. We’re working on building a presence in Vancouver.

What technology was crucial to building your business in 2011?

It’s not about technology for us. The way we built our network of lawyers so far, besides through social media, has been by building relationships – with legal organizations, or organizations that service small businesses, or channel distributors like real estate agents.

What was your greatest success in 2011?

As a business owner who is just starting out it was really exciting to get the validation that the idea was going to work and that people valued it. That really happened after we were profiled in The Globe and Mail in December. We got a lot of traffic on the website.

Imagine you’re considering starting a new business. Given your experience, what are two things you’d advise yourself?

I’ve learned patience. There aren’t going to be 1,000 lawyers signing up for your service; even if you think it’s a great idea, you need to sell people the value. It’s about working hard and putting in the hours.

I could have fleshed out the business plan. I knew how I would acquire lawyers but was less clear on how I would acquire non-lawyers. And having an SEO strategy when we launched, so we would have older web pages and appear in search results in a better position.

What are your business goals for 2012?

The main one is to transition from beta testing to the revenue-generating phase. And to expand into other cities, Vancouver and throughout B.C.

Amber Nasrulla is an ex-pat Canadian writer based in L.A. who specializes in profiles from business leaders and scientists to Hollywood celebrities. Her work has appeared in North American and British publications including L.A. Times, The Globe and Mail, Los Angeles Magazine, ELLE Canada, Chatelaine and London Weekly Times.

To follow TELUSBusiness on Facebook go to facebook.com/telusbusiness.

Navigating office politics can make an office worker feel as anxious as a new high school student. But there are tangible methods to grapple with the gossip and cliques as well as meet deadlines and quarterly targets.

Jeff Mowatt is a business strategist in Calgary, Alberta, an award-winning professional speaker and the author of Influence with Ease. Since Mowatt opened his business more than 20 years ago, he has advised clients in many sectors including automotive; banking; the beauty industry; and transportation, to name a few.  He answered the Globe & Mail's challenge recently about handling office politics and here, he expands his advice.

I just got a promotion and it’s awkward to delegate and discipline my colleagues who were my friends up until last week. Your advice?

Call a meeting. Explain publicly how ‘the old story about nothing changes with me being the boss’ is a myth. Things will change; they’d change with any new supervisor. Explain how you’re the one who is now accountable and responsible for what happens with the group. That means you will ask for their input, but ultimately you make the final decisions. You’ll give them one-on-one feedback, both positive, and areas they need to improve upon. This is new to you also, so you’ll ask for one-on-one feedback from them about how you’re doing. If they have a concern about your leadership, they are to discuss it directly with you; not behind your back. That won’t prevent it from happening, but it will make them more conscious when it does begin.

How do I handle a colleague who is bad-mouthing me to the boss without looking like a whiner?

You don’t [because] you will look like a whiner. If your boss has a problem with you, he or she will bring it to your attention sooner or later. Make sure you’re doing your job well and ignore the other person. If they write something defamatory about you that is untrue and you read it, then refute it – truthfully in writing, without exaggerating – and cc your boss. Stick to facts; your opinion will make you look desperate.

I feel awkward trying to find mentors in the office just so I can get a promotion. What’s an authentic way of meeting influential people?

Join your professional association and get involved. Plumbers have plumbers associations; dog walkers have dog-walking associations. They are starving for volunteers, show up, be reliable, use good judgment and get involved in the local and national boards. You’ll develop your network and your expertise. Eventually people will want you to be their mentors.

I’m 10 years older than most of my colleagues and I have kids. What can I do to overcome the stereotype that my family is more important than my job?

Do you want to give the impression that your job is more important than your children? Yikes!  Working for an organization doesn’t mean you need to sell your soul (or sell-out your family). If the issue is that you won’t have as much in common with them, you’re right – you won’t. The good news is you don’t need to be buddies with everyone at work. Trying too hard to be friends just looks pathetic and tends to have the opposite affect. Organizations have ‘teams’ charged to do a task. They are not ‘families’ that are expected to love each other. Do an outstanding job, be nice to people. Then go home to your family.

How do I handle team members who don’t pull their weight?

Have a conversation with them along the lines of: “Bob, you and I are going to be working together a long time I hope, so it’s important we understand expectations. We are all expected to do X. That includes you. So far you have done Y. This is messing up Z. What do you suggest we do to address this?” When Bob grumbles he’ll get to it, leave him alone. Don’t expect him to be happy. He won’t. Don’t try softening it with a bunch of compliments about the other things he’s doing well. That just muddles the message. You’re getting paid to do a job, not to tiptoe around lazy people’s feelings. Make sure you have friends and family at home and a dog. They love you no matter what!

Amber Nasrulla is an ex-pat Canadian writer based in L.A. who specializes in profiles from business leaders and scientists to Hollywood celebrities. Her work has appeared in North American and British publications including L.A. Times, The Globe and Mail, Los Angeles Magazine, ELLE Canada, Chatelaine and London Weekly Times.

Today marks the launch of the TELUS 4G LTE wireless service in 14 metropolitan areas across Canada, providing Canadians access to some of the fastest wireless speeds in the world.  In support, we address common network technology questions.

One question that many businesses ask is what is the difference between a 4G and LTE networks and devices?  To answer this, it’s important to look at how networks have evolved over the years.

The network evolution

About a year ago, I wrote a post about the network evolution and why it matters to business.  In it, I described how mobile technology has evolved over the years, starting with mobile data, defined as “2G” or second generation.  Data speeds were low and the network supported capability for activities like text-based email.  During the 2G era, Smartphones like BlackBerry and Palm started coming to market.

The network then evolved to 3G - third generation - that truly let people use the internet and applications on the go. Speeds were higher, with user experience closer to DSL speeds. This expanded the eCommerce market and allowed businesses to stay connected to their staff and their customers anywhere, anytime.  Smartphones have become a must for the business.  Mobile internet helps make flexible work possible.

Next came the 4G - fourth generation – an evolution that brought mobile internet to a level offered by broadband. In rural markets, mobile technology has surpassed wire line technology by offering speeds that go beyond dial-up, DSL, and even broadband.

It’s all about speed

LTE, or Long Term Evolution is the next evolution of the 4G network and brings you closer to the wireline experience on your mobile device, providing near instant connectivity.  Faster speeds allow you to do more, right on your mobile device, such as attend or even host video conferencing sessions, download large PDF files, presentations and documents without long wait times or download and edit documents from the cloud.

There are three things that make the LTE experience better:

1. Better download speeds:  the LTE network allows for faster download speeds.  For example, average download speeds expected by HSPA+ Dual Cell is 7-14 mbps, while LTE offers 12-25 mbps.
2. Less latency:  On the LTE network, the speed in which you’re able to make a network connection – how fast it’s moving is greatly reduced.  You can do a quick ping test to understand how fast your network speed is by going to www.speedtest.net.   LTE latency is 30+ MS Milisecond vs. HSPA which 70+ MS Milisecond.
3. Better upload speeds:  the LTE network allows for faster upload speeds – theoretical speeds can reach 25 mbps vs. HSPA at 5 mbps.

These three things work together to provide a mobile experience comparable to wireline.

Here are some common questions about LTE:

• When will LTE be launched in my city? TELUS 4G LTE network services are available in Vancouver, Calgary, Edmonton, Hamilton, Kitchener/Waterloo/Guelph, the Greater Toronto Area, Belleville, Ottawa, Montreal, Quebec City, Halifax and Yellowknife.  Additional 4G LTE coverage areas will be announced as service becomes available at www.telusmobility.com/4GLTE

• What happens if I travel off of the LTE network with my LTE enabled device? When traveling outside of TELUS’ 4G LTE network coverage, customers will move seamlessly from TELUS’ 4G LTE to  4G DC-HSPA+ and/or HSPA+ network and vice versa, with no disruption of service.  TELUS 4G LTE devices have a network indicator that will show ‘4G LTE’ or ‘LTE’ when in a 4G LTE coverage area.  Most indicators will show “4G” in either DC-HSPA+ or HSPA+ coverage area.  Visit the www.telusmobility.com/coverage to see interactive maps with the 4G LTE coverage area.

• Do you need an LTE or 4G device to enjoy faster speeds? In order to fully experience the faster speeds of LTE, you will need an LTE or 4G device.  A number of new LTE and 4G devices can be found here: www.telus.com/4GLTE.

In celebration of the TELUS 4G LTE announcement, TELUS wants to give YOU the chance to win a Samsung Galaxy Note.  No purchase necessary.  Contest runs February 10th to February 17th, 2012.  See Contest Rules for complete details.

Shishir has been with TELUS for more than 4 years with extensive experience in mobile networks, international roaming and complex IP-based solutions.

Last week in this space I wrote about a way to add 25GB of free storage to your iPhone or Windows Phone – via Microsoft's Windows Live SkyDrive cloud service.

In this blog post, I wanted to share another way you can expand the capacity of your limited smartphone or tablet – but this one doesn't require an Internet connection and you'll get 500GB of storage.

It's an external hard drive that is not only portable – therefore small and battery-powered – but it has the unique ability to wirelessly stream content to a nearby smartphone or tablet. And it doesn't matter if you're using an iPhone, BlackBerry, Android or Windows Mobile device.

Intrigued?

Called the Seagate GoFlex Satellite ($199.99), this small drive emits a Wi-Fi signal and can stream content to nearby devices – even serving up three different streams at the same time.

The work applications are obvious -- as you can fit many thousands of documents, spreadsheets and presentations on a half-terabyte drive -- but you can also use this when on a family road trip over spring break. Imagine you're in the car with a few kids in the backseat and they each have a different Wi-Fi device, such as a smartphone, tablet or media player like an iPod touch. As long as they join the GoFlex Satellite drive -- as if they were logging onto a Wi-Fi network -- they can launch the web browser or open up a free app to see and access the contents of the hard drive. This includes high-definition movies, TV shows, music, photos and other files.

Once you go over three simultaneous streams, it can begin to affect performance for everyone. Of course this gadget can be used at home or at the office, too.

The only other limitation is in the file formats supported. Because an iPhone, iPod touch or iPad can't play .AVI or .WMV files, for example, it won't be able to stream those videos from the GoFlex Satellite hard drive. .M4V or .MP4 video files will work just fine, however.

Slightly bigger than a deck of playing cards, this drive's 500GB capacity translates to more than 300 high-def movies. And consider most portable devices like smartphones and tablets usually max out at 64GB anyway.

While the GoFlex Satellite creates its own Wi-Fi hotspot, keep in mind you can't get online through this drive. It only creates a wireless connection between the drive and the device you're streaming to. But at least you don't need a wireless network to use the drive -- hence the road trip scenario.

Battery life tops five hours for playback and more than 25 hours on standby.

While there's some content preloaded on the device, such as some cartoons and Discovery Channel programming, you'll first want to connect the GoFlex Satellite drive to a PC or Mac via USB 3.0 connectivity (compatible with USB 2.0) and drag and drop content onto the drive. Optional interfaces include FireWire 800 and powered eSATA (sold separately).

Want one? Or at least want more info? Click here for additional specs and features of the Seagate GoFlex Satellite wireless hard drive.

My name is Evan Carmichael and I believe that the fastest and most effective way to build a business is to model the strategies of people who have already done what you’re trying to do. I call it Modeling the Masters. My last post with over 30 comments was 3 Success Tips from Herb Kelleher (Southwest Airlines).

Today we're going to look at how a Vietnam veteran failed with two separate businesses but was determined to become a successful entrepreneur and not have to work for someone else. He would eventually become one of the most successful business writers of all time. This is the story of Rich Dad Poor Dad creator Robert Kiyosaki and the top 3 lessons that you can learn from his success.

Must Watch Video

"The size of your success is measured by the strength of your desire; the size of your dream; and how you handle disappointment along the way." - Robert Kiyosaki

Robert Kiyosaki (born April 8, 1947) is an American investor, businessman, self-help author, motivational speaker, and financial literacy activist best known for his "Rich Dad Poor Dad" book series. After serving in the Marine Corps as a helicopter gunship pilot during the Vietnam War, Kiyosaki returned home to work as a salesman for Xerox. Not wanting to work for someone else for the rest of his life, Kiyosaki had dreams of starting his own business.

After unsuccessful stints selling Velcro wallets and T-shirts for heavy metal rock bands, Kiyosaki began promoting the personal growth seminars of Marshall Thurber called "Money & You." When Thurber decided to retire, Kiyosaki took over the business and began traveling the world to educate people about financial strategies. To reach more people he decided to write his first book which he self-published, "Rich Dad Poor Dad."

Robert Kiyosaki has written over 15 books and has sold over 26 million copies. 3 of his books have been on the best sellers lists of The Wall Street Journal, USA Today, and the New York Times simultaneously and he's a sought after speaker who continues to educate people on how to understand their money.

Action Item #1: Make Your Money Work Hard

One bit of advice that has served me well with my business is: Don't spend money until you're making it. Anybody can spend money. If I gave you a million dollars today for your business I'm sure you could come up with a million different ways to spend it. But not everyone can make money. Bootstrapping should be your mantra. Find ways to get your product or service out without spending money. Get even just a few orders and prove that people will buy what you're selling. Then spend money on expanding your marketing. Your money will be well invested because you know you have something that works. Until you start making some sales, hustle and put your sweat into drumming up some business.

Kiyosaki believes that people go to school to learn how to work hard for money while he tries to teach people how to have money work hard for them. He believes that for many people, success is working hard to land a secure job at a big company or government who will look after you until you retire. That model might have worked in the Industrial Age but now in the Information Age, people have to look after their own financial security because you can no longer rely on your employer to take care of you. One of the best ways of doing this, he believes, is to create your own business and become your own boss.

According to Kiyosaki: "The poor and middle class work for money. The rich have money work for them. The rich buy or create assets that work for them so they don't have to... An asset puts money in your pocket and a liability takes money from your pocket. The rich understand the difference and buy assets, not liabilities. "

Action Item #2: Mind Your Own Business

As entrepreneurs we have to wear many hats. You're everything from the CEO to the janitor when you start a business. If you want to grow your business properly and have confidence in your decision making, you need to understand your numbers. Yes, it may be boring and outside your core competencies at the beginning but when you can understand your balance sheet, income statement, and the numbers that run your business you'll be in a much better position to drive your company forward. It could be one of the best investments that you make into yourself and your business.

If you want to achieve financial freedom, Kiyosaki believes that there are 3 key lessons that you need to master: learn how to make money, learn how to manage it, and learn how to invest it. He encourages people to keep their day jobs until they are earning enough money on the side from their own business or investments to be able to quit. Kiyosaki also believes that money is a "base subject" and that it's never too late to start learning.

According to Kiyosaki: "Many people confuse their profession with their business. To become financially secure people need to mind their own business. Your business revolves around your asset column, as opposed to your income column. The rich focus on their asset columns while the poor and middle class focus on their income columns.”

Action Item #3: Work to Learn, Not for Money

If you haven't started your business yet, a great piece of advice is to get a job where you can learn the skills that you need to succeed as an entrepreneur. Want to set up your own auto shop? Go work for small auto shop. Learn the ins and outs of how the business runs. Ask the business owner to get involved in other projects in addition to what you were hired to do. Work extra hours and on the weekends to over deliver and really understand how the business works. You'll first figure out if that industry is for you or not and you'll also make many of your rookie mistakes while still getting paid by someone else.

Kiyosaki credits much of his success as an entrepreneur to his military education. He learned how to lead men into battle, make important decisions quickly, and be tough. He translated those skills into hiring excellent workers and leading them into business battles. He also credits working for Xerox for teaching him how to sell and how to accept and move forward from rejection.

According to Kiyosaki: "Many entrepreneurs fail to grow because they lack leadership skills. And rather than look in the mirror, they find it easier to blame others. Blame is short for be-lame, and you can’t be an effective leader if you’re lame... Work to learn. Don’t work for money… Look for jobs that can help you develop the skills of managing cash flow, systems and people rather than just pay you well."

True Story

There was once a friend of Kiyosaki’s whose 16 year old son desperately wanted a new car. His friends had all been given one by their parents, and now this son expected nothing less. But, it was not going to be that easy for the boy. His father had played Kiyosaki’s CASHFLOW board game and he wanted to teach his son a lesson in financial management. The father gave his son $3,000 but forbade him from using it to buy a car just yet. At the same time, he gave his son a subscription to the Wall Street Journal. The father told his son that only once he had earned an additional $6,000 from investments could he then use $3,000 to buy a car. The rest of the money would of course go into his college fund. “My friend said it was the best $3,000 he ever spent,” says Kiyosaki. “Not only had his son gained a new respect for the power of money, he also learned to spend money wisely instead of letting money burn holes in his pockets.”

More Quotes

"Don’t work for money; make it work for you."

"Remember, your mind is your greatest asset, so be careful what you put into it."

" If you want to go somewhere, it is best to find someone who has already been there."

What Do You Think?

Did you bootstrap your business? Do you understand the numbers that run your company? What part of Robert Kiyosaki's message impacted you the most? As always, I’d love to hear your thoughts if you leave a comment below!

Evan Carmichael

To learn more check out my list of Robert Kiyosaki articles or my website, EvanCarmichael.com.

TELUS Talks Business correspondent Julie Bishop recently interviewed Tony Lourakis, the CEO of Complete Innovations, a leading global provider of mission critical fleet, asset and mobile workforce management solutions. The Markham Ontario headquartered company continues to win awards year after year being recognized for its national growth with honours including a spot on IDC Canada’s “10 to Watch” list, being ranked as one of Canada’s fastest-growing companies by PROFIT 100 three years in a row, and being part of Deloitte’s Fast 500 List in 2010.

Last week, Tony discussed financing, building a customer base and the importance of customer feedback.  In this post, Tony looks to the future and talks to his goals for 2012.

What advice would you offer a start up based on your experience?

For a start up, one of the most important things is managing cash flow. Start ups need to move from a money burn situation to a money making situation as quickly as possible. Ensure you have a well thought out plan on how to do that, and identifies the tipping point and work backwards from there and make sure you execute on the plan.

So it’s getting to that financial stability as quickly as you can because, once you get there, it breeds more opportunity and success and it gives you the strength to do just so much more. That’s how you can really scale a business.

What would you say your greatest business success in 2011 has been?

Our greatest business success in 2011 has been launching our products with AT&T in the US in a similar way to how TELUS has been reselling our products for about five years now in Canada.

We launched in June of 2011 with AT&T. The launch was about three years in the making from quoting them initially, to getting our foot in the door, to working various levels of management, to being accepted and brought in.

The way AT&T operates is that they bring you in on kind of a tier initially where you’re not on their bill and they don’t resell your product.  It’s more of a co-sell type relation where you have to prove yourself. If the relationship is successful in this phase then they may start reselling your product.

Very few companies have achieved this point and doing so has been a big accomplishment for us. So 2012 for us is all about ramping up this opportunity to its full potential.

What are your other goals for 2012?

Some other key focuses are to stay focused on our partnership with TELUS in Canada and continue to grow that business. Our business with TELUS has been immensely successful for us and it still represents our biggest business. In fact, it has been a key driver in our success and growth.

Another important goal in 2012 is that we are working to launch our fourth generation product with Courier and Fleet Complete, which are going to be merged together into one platform. I think it’s going to be a game changer so we're looking over it to making that launch in 2012.

How do you keep your team motivated and focused on your business goals?

First off, we try to keep our goals very simple, something you can easily remember so when the teams come in everyday, they know exactly what they're working towards.

We have team goals or departmental goals and for instance, our Canadian sales team has a goal and it’s to hit a certain number of volume or subscribers we're adding for the year. Our customer service department has goals around key metrics like how fast we answer the call, how quickly close support tickets etc. Our R&D team has goals around product release timelines and quality levels.

Every week we measure our results against our targets on a week-to-week basis so we know in real time if we are trending on track, ahead or trending below our goals. And we do that with each department.

Our corporate goals are also simply stated. For instance, it might be as simple as to say here's our revenue goal for this year and here's our market goal in terms of market penetration or strategic thing that we want to do.

We remind people of these goals at every opportunity. We have a couple of company meetings a year, I do a video message every month to keep people up to date on how we're performing against these goals.

We also work to create that team feeling where we're out there competing and we want to win and we want to beat the competition much like a sports team.

And then we have other initiatives like, for example, we give back. Every year we donate some of our profits to charities. I think that helps the team see that the company isn’t just about growth earnings. Obviously there are bonuses tied to our business goals, but we're also doing something good for the community.

Is there any other advice you wanted to offer to SMBs looking to grow their  businesses?

The only other thing I would offer is to always be innovative.  I find some entrepreneurs get bored of their business sectors, as entrepreneurs by nature like creating and once something is running smoothly, they start to loose interest with it. I think that as the business leader you have the power and ability to innovate and transform it to expand into new markets and offerings and services and products.

So always be thinking about the possibilities of the future and innovation because there aren’t any limits. The opportunities are endless.