Negotiating a Better Lease

• Free Rent?  

• Tenant Allowances?

Can these be included in a lease agreement? 

What can be negotiated with a landlord?

With the challenges faced by businesses today, it makes sense to carefully evaluate every expense. How much more does that process need to be applied against some of the largest expenditures a business will face - those related to their business location!

We've always encouraged our business clients to engage the services of experienced professionals to assist them with aspects of business where the professionals can add tremendous value.

Pro-Vision Solutions Inc. is very pleased to share the following tips and suggestions from The Lease Coach, and look forward to future contributions from them for our audience. Thank you once again Dale Willerton and Jeff Grandfield for sharing these very helpful insights with our Business Success audience!

Dale Willerton

Jeff Grandfield

Negotiating Commercial Leases & Renewals For Dummies

Commercial Leasing Tips for Commercial Tenants

By: Jeff Grandfield – The Lease Coach 

For many business-owners, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized sales people. Their job is to sell tenants on leasing their location at the highest possible rental rate. 

As explained in our new book, Negotiating Commercial Leases & Renewals For Dummies (co-written with my colleague, Dale Willerton), tenants may go through the leasing process only two or three times in their entire lifetime – yet they have to negotiate against seasoned professionals who negotiate leases every day for a living. Negotiating appropriate leasing terms is vital for an entrepreneur as the amount of rent he pays will directly affect the business’ financial bottom line.

Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, these are some money-saving tips for tenants:

Negotiating for the Free Rent: The most free rent The Lease Coach has negotiated for a tenant was the first four years free on a 10-year lease term. In some cases, the landlord is in such a strong position that free rent is hard to get. The longer the space has been vacant, the stronger your negotiating position. If the agent won’t adjust or increase the free rent on your Offer to Lease, do it yourself (in pen) as a counteroffer.

Maximize the Tenant Allowance: Yes, it is possible to receive a portion or even all the tenant allowance money that you require to build out your space. It boils down to the net effective rental rate which means the landlord may be willing to provide as much tenant allowance as you want, provided the rent increases accordingly (effectively, the landlord will become your banker and “loan” you the money required). Some tenants can afford to pay a higher rent, but want to minimize start-up costs. The more convincingly The Lease Coach can demonstrate why you need the money or what other landlords are prepared to offer, the better chance you have of receiving what you are looking for. We ask for more tenant allowance than you need as landlords will likely counteroffer.

Go Slow for a Better Deal: Tenants often rush a lease deal and leave valuable incentives or inducements on the table. If you have the time to work with, we recommend that you take it. Often, we get tenants more free rent, more tenant allowance or even a lower rental rate just by refusing to sign on the dotted line too quickly. If the landlord or agent is anxious to close the deal, you can use stalling tactics to better your position.

For a copy of our free CD, Leasing Do’s & Don’ts for Commercial Tenants, please e-mail your request to DaleWillerton@TheLeaseCoach.com.

Jeff Grandfield and Dale Willerton - The Lease Coach are Commercial Lease Consultants who work exclusively for tenants. Jeff and Dale are professional speakers and co-authors of Negotiating Commercial Leases & Renewals For Dummies (Wiley, 2013). Got a leasing question? Need help with your new lease or renewal? Call 1-800-738-9202, e-mail DaleWillerton@TheLeaseCoach.com  or JeffGrandfield@TheLeaseCoach.com or visit www.TheLeaseCoach.com.

What's been your experience? Please add your comments and helpful suggestions for our audience, and share this post with those in your circle of contacts!



* In Closing:  Has your BUSINESS PLAN taken your future business growth requirements into consideration? 

Pro-Vision Solutions Inc. has a number of helpful ways to add this into your BUSINESS PLAN! 

Simply CLICK for more information and details!

Morinville and District Chamber of Commerce Presentation

March 2015 has proven to be a very busy month!  In the first week I had a wonderful opportunity to speak with members of the Morinville and District Chamber of Commerce at their monthly luncheon. For those not familiar with the community, Morinville is located just a little to the northwest of Edmonton. Over the years, I’ve developed great working relationships with many in the Town of Morinville, as well as within Sturgeon County.

With respect to the luncheon, I must say that the warm welcome provided by Chamber President, Simon Boersma, Chamber staff, and attendees was greatly appreciated. There was a terrific group of business people who came to the event, and I trust that we were able to add something of value to their growth and development.

Photojournalist Grant Cree kindly provided a copy of the article he wrote for the Morinville Free Press (March 10, 2015; Page 7). Thank you Grant for allowing us to share this with our viewers, which we’ve captured in the image in this post.

Following the luncheon, Simon Boersma provided these kind comments:  

“Thanks for coming out to our Morinville & District Chamber luncheon last Wednesday, a great time indeed with lots of information. The information presented was concise and your presentation was well presented with both PowerPoint and with hand out information. A record crowd came out to hear Jim speak and the information was well received by all attendees.”

Thank you Simon – it was a pleasure to be with your members at this event, and with the many others who attended from the business community.

BTW – a number of the attendees asked for more information regarding the “Business Planning Services” offered by Pro-Vision Solutions Inc. For those who may be interested, details can be found on our “Business Success BLOG”.
    * Here is a short URL that will take you to the appropriate page: http://goo.gl/KRTXUY





Here is the article and photo provided by Grant Cree:

Commercial Leases & Renewals Tips - The First Offer ...

Every business requires a location from which they'll operate. Many start from a home base and move into larger space when the residential location no longer meets their needs. Have you completed a detailed assessment of your needs prior to searching for the ideal location and have you allowed yourself enough time to avoid being pressured into making a hasty decision? How prepared are you to negotiate the terms of the lease  on that new location? 

Here are a few things that the experienced professionals with The Lease Coach have provided for your consideration as you face the prospect of relocating your business. Thank you Dale and Jeff for providing the following tips for our audience.


 
Negotiating Commercial Leases & Renewals For Dummies

 

Commercial Leasing Tips for Commercial Tenants

By: Jeff Grandfield – The Lease Coach

For many business-owners, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized sales people. Their job is to sell tenants on leasing their location at the highest possible rental rate.

As explained in our new book, Negotiating Commercial Leases & Renewals For Dummies (co-written with my colleague, Dale Willerton), tenants may go through the leasing process only two or three times in their entire lifetime – yet they have to negotiate against seasoned professionals who negotiate leases every day for a living. Negotiating appropriate leasing terms is vital for an entrepreneur as the amount of rent he pays will directly affect the business’ financial bottom line.

Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, these are some money-saving tips for tenants:

Never Just Accept the First Offer: Even if an Offer seems reasonable or you have no idea of what to negotiate for, never accept the leasing agent’s or landlord’s first offer. More often than not, the first offer or rental rate is inflated. Many agents use a strategy of starting negotiations at a higher rate that allows them to give in slightly. When The Lease Coach negotiates for tenants, we frequently complete lease agreements 15 to 25% less than the agent’s opening offer. In one case, we negotiated for the asking rate to be reduced from $8.00/psf to under $3.00/psf. The majority of agents / landlords build room to maneuver into the Offer.

Hiring a Lawyer or an Accountant: Very few lawyers or accountants possess commercial real estate business savvy or practical experience. Before hiring either, check their websites and be sure they specialize in commercial real estate. Many tenants are hiring professional Lease Consultants for a more comprehensive, hands-on approach especially when negotiating and/or consulting work is required. It is often more important to review the lease document from a negotiating position, rather than from a legal position. Remember, the legality of the lease document is rarely in question.

For a copy of our free CD, Leasing Do’s & Don’ts for Commercial Tenants, please e-mail your request to DaleWillerton@TheLeaseCoach.com.

Jeff Grandfield and Dale Willerton - The Lease Coach are Commercial Lease Consultants who work exclusively for tenants. Jeff and Dale are professional speakers and co-authors of Negotiating Commercial Leases & Renewals For Dummies (Wiley, 2013). Got a leasing question? Need help with your new lease or renewal? Call 1-800-738-9202, e-mail DaleWillerton@TheLeaseCoach.com  or JeffGrandfield@TheLeaseCoach.com or visit www.TheLeaseCoach.com.

We'd be pleased to have your comments, tips and suggestions to further help our audience of entrepreneurs?


* Please let us know if we can help you as you develop your business plan and grow your business.

Pro-Vision Solutions Inc. would be more than happy to assist  you with that!

Tips to Negotiating Your Commercial Lease

Every business encounters expenses along the path towards success. One of the largest expenditures that can obligate the owner for years into the future involves your business location!

There are many things that can enter into the decision-making process as I've discovered from some of the experienced professionals with The Lease Coach.

Pro-Vision Solutions Inc. is very pleased to provide you with the following tips and suggestions from The Lease Coach, and look forward to future contributions for our audience. 

Thank you for sharing these very helpful things for our Business Success audience!


Negotiating Commercial Leases & Renewals For Dummies

Commercial Leasing Tips for Commercial Tenants

By: Jeff Grandfield – The Lease Coach 

For many business-owners, negotiating a good lease or lease renewal against an experienced agent or landlord can be a challenge. While an entrepreneur focuses on marketing and managing, savvy real estate agents and brokers are specialized sales people. Their job is to sell tenants on leasing their location at the highest possible rental rate. 

As explained in our new book, Negotiating Commercial Leases & Renewals For Dummies (co-written with my colleague, Dale Willerton), tenants may go through the leasing process only two or three times in their entire lifetime – yet they have to negotiate against seasoned professionals who negotiate leases every day for a living. Negotiating appropriate leasing terms is vital for an entrepreneur as the amount of rent he pays will directly affect the business’ financial bottom line.

Whether you are leasing a new location for the first time or negotiating a lease renewal for your business, these are some money-saving tips for tenants:

Negotiate to Win: All too frequently, tenants enter into lease negotiations unprepared and do not even try winning the negotiations. Often, tenants will set their sights on just striking a fair deal – this usually plays right into the leasing agent’s hand as he is most certainly negotiating to win the best deal for his boss … the landlord. If you’re not negotiating to win, you won’t. Negotiate assertively!

Be Prepared to Walk Away: Try to set aside your emotions and make objective decisions. Whoever most needs to make a lease deal will give up the most concessions. A good business in a poor location will become a poor business.

Ask the Right Questions: Gathering information about what other tenants are paying for rent or what incentives they received will position you to get a better deal. Consider that your landlord and his agent know what every other tenant in the property is paying in rent, so you must do your homework too.

Broker … Friend or Foe?  Real estate agents and brokers typically work for the landlord who is paying their commission. It is not normally the agent`s role to get the tenant the best deal – it is their job to get the landlord the highest rent, the biggest deposit, etc. The higher the rent you pay, the more commission the agent earns. If you are researching multiple properties, try to deal directly with the listing agent for each property, rather than letting one agent show you around or show you another agent`s listing. Your tenancy is more desirable to the listing agent if he can avoid commission-splitting with other agents.

For a copy of our free CD, Leasing Do’s & Don’ts for Commercial Tenants, please e-mail your request to DaleWillerton@TheLeaseCoach.com.

Jeff Grandfield and Dale Willerton - The Lease Coach are Commercial Lease Consultants who work exclusively for tenants. Jeff and Dale are professional speakers and co-authors of Negotiating Commercial Leases & Renewals For Dummies (Wiley, 2013). Got a leasing question? Need help with your new lease or renewal? Call 1-800-738-9202, e-mail DaleWillerton@TheLeaseCoach.com  or JeffGrandfield@TheLeaseCoach.com or visit www.TheLeaseCoach.com.

What are your comments or additional helpful suggestions for entrepreneurs? 

* Have you included your business location plans into your Business PLAN? 

     TIP: Pro-Vision Solutions Inc. can help you with that!


Let us know your thoughts and please share this with those in your circle of contacts!

Develop Your Business Plan Now - We can Help!

We recognize that starting and growing a business can be both challenging and rewarding. Increase your confidence in going forward and the confidence others place in you with solid plans for your business! We can assist select clients who are both ‘ready and able’ to move forward with their business planning and growth. 

Here's a quick look at a few OPTIONS that we trust will be helpful:

Our “Business Plan Coaching” services (Options 1, 2 & 3) provide you with a cost-effective ‘D.I.Y.’ (Do-It-Yourself) approach!  Our role consists of guiding and reviewing your progress as you move towards your objectives, using one of our three helpful business planning frameworks. (These are described in more detail below.) You proceed at your own pace and develop your own business plan. We’ll check in with you throughout the entire process with valuable input and suggestions. Where necessary, we can also provide limited research, directing you to resources we believe you’ll find helpful.

Our “Business Plan Writing” service (Option 4) takes a more consultative approach and works more closely with you, particularly in the early and latter stages of the process. First, we help you outline your business concept and objectives. From there, we gather information into a first draft of your business plan for you to review. Following your review, further refinements are made and presented in a second draft of your business plan. Your feedback will be used to fine-tune the plan, which when presented to you, completes this valuable service. At this stage, you have the finished business plan document that you’ve requested.

Our "Other Services" - We'd be pleased to speak with you regarding our: "Business Plan Review" (Option 5) or "Business Coaching Services" (Option 6) to help you prepare to present your plan to funders and stakeholders.

So whether it’s our more involved “Business Plan Writing” service, the more flexible “Business Plan Coaching” service, or one of our "Other Services", it all begins with a conversation, and taking the next step.

 

Want to Register Now for any of our Service Options?


Simply CLICK on the title above, or any of the Six (6) "Option Titles" below to go to our WEBSITE Registration Page. Feel free to review the descriptions seen there (and as noted below) and then "click" on the BUTTON to reach our Eventbrite page menu and complete your registration! 

Need MORE details?

RE: Options 1, 2 & 3 - “Business Plan Coaching” 

Pro-Vision Solutions Inc. (PVS) has developed a number of helpful approaches to assist you. While we do not write your business plan for you with the following "Business Plan Coaching" options, our interactive process helps you develop many of those important elements, covering each of them at your own pace, within a dynamic process. Whether you’re going ‘solo’ or have your own ‘team’ to assist you, we’ll be there with you to help facilitate the development of your business plan. You’re not alone in this!

Option 1 – “PVS –Exploring Business” 
For any business to succeed there are a number of fundamental questions that need be answered. We’ll help you explore those questions and discover the answers you need before investing significant time, energy and resources into your business venture. Regardless of the stage of your business development, our objective perspective will help you quickly explore these critical aspects at this important point of your entrepreneurial journey.  Your answers to these questions will allow you to focus your resources where they will produce the greatest results for your business!

Here are just some of the areas we’ll examine together:

· What is your value proposition?
· How does your current menu of products or services fit in the market?
· Who should your business be targeting?
· How will you effectively reach your market?
· What changes in your operations, marketing & management are needed?
· What priorities should receive your attention?

(This service takes approximately 3 to 4 hours to complete, and should be completed within 1 month from registration.)

 

Option 2 – “PVS – Business Modeling” 

Whether you’re a new or existing business, choosing this option introduces you to a powerful suite of strategic management components. Flexible to adapt to a wide variety of situations, the insights you gain from the “PVS – Business Modeling” will be most valuable in the development of your business plan.


Our process examines the following key business areas:

· Your Value Proposition
· Approach to Customer Relationships
· Target Customer Segments
· Channels to Market
· Revenue Sources
· Key Business Activities
· Key Resources Required
· Strategic and Operational Partnerships
· Associated Costs

(This service takes approximately 7 to 9 hours to complete, and should be completed within 3 months from registration.) 

Option 3 –“PVS – Facilitated Business Planning”
Choose our “PVS - Facilitated Business Planning” and we’ll ‘walk with you’ through many of the key concepts you’ll need to address within your business plan. This package will provide you with helpful direction, insights and practical exercises to assist you in completing each major section of your business plan. Each step is introduced in a way that facilitates your growth and development as we connect with you throughout the entire process. The things you learn through this process will allow you to bring all the pieces of your business plan together and equip you for the changes you’ll want to make in the future.

Here are the key points we’ll cover with you in this service:

· Your Vision & Mission
· Your Target Market
· Your Company & Management
· Understanding Your Industry & Market
· Marketing Your Product or Service
· Your Business & What's Unique About It
· Operating Realities, Competition and Overcoming Challenges
· Identifying and Minimizing Risks
· Your Financial Prospects and Health of Your Business
· Customer Service & Satisfaction
· Social Responsibility, Social Media & Exit Strategy
· Your Business Plan Package

(This service takes approximately 10 to 13 hours to complete, and should be completed within 6 months from registration.)

RE: Option 4 - “Business Plan Writing” 

Option 4 –“PVS – Business Plan Writing”
Over the years we’ve found that there is great value for an entrepreneur to put together their own business plan, yet we also recognize that writing one can be a daunting task! Perhaps you’ve experienced some of the challenges faced in writing a business plan. We'll work with you and assist in the gathering of information that you'll need to have in your business plan to effectively describe your business opportunity. This service takes a consultative approach to gather information from you and works with you to craft a business plan that's tailored to your needs. 

Our process requires your input to outline your business concept and objectives. From there, we gather information into a first draft of your business plan for you to review. Following your review, further refinements are made and presented in a second draft of your business plan. Your feedback will be used to fine-tune the plan, which when presented to you, completes this valuable service. At this stage, you have the finished business plan document that you’ve requested.

As every business and the needs of its owners are different, the time and costs involved will vary with the complexity of your business situation! 

(This service typically takes approximately 8 to 12 weeks to complete. A retainer is required to begin, with the balance of payments arranged during our initial consultation and the scheduling of this project.)

RE: Options 5 & 6 - “Other Services” 

Option 5 –“PVS – Business Plan Review”
One of the most common reasons for putting a business plan together is related to a requirement of funding sources. Simply put - virtually everyone you approach for funding your venture will want to see and hear how your business is going to move forward and achieve the results that you anticipate. Let us help you with our experience in guiding hundreds of entrepreneurs through the develop their business plans and the refining of their 'pitch' presentations. We'll review your plan, critique your presentation in our 'Pitch/Polish' session, and provide you with valuable feedback to improve both.

(This service takes approximately 8 to 12 hours to complete, and should be completed within 2 month from registration.)

Option 6 –“PVS – Business Coaching”
Our Business Coaching provides you with access to our individual guidance and expertise to work on your specific challenges. Typically made available in packages of three (3) hours, we'll coordinate times that work for your schedule and address the items that are most important to your moving forward with your business!

(This service is typically available in packages of 3 hours, however we are currently making it available with 4 hours of Business Coaching for those who register at this time.)

Please contact us directly for further information with respect to any of the above. 

We'd be pleased to speak with you regarding any of your specific requirements at any time.

Please feel free to get in touch with us by sending a "comment" with your contact information and asking us to connect, an email note, or by contacting us through any of our social media channels:

Feel free to connect and participate through social media with Jim Ewing: Twitter:    JimEwing_PVS Facebook:    facebook.com/JimEwingPVS Linkedin Profile:   www.linkedin.com/in/JimEwingProVision YouTube Channel:   www.youtube.com/user/ProvisionMentorship

PLAN to have a GREAT YEAR in 2015!

Why is it ... that we so often associate the preparation of a business plan with the start-up phase of a business venture? There’s little doubt on the value of having a plan at the front-end of the entrepreneurial journey, but what’s often overlooked is the value that a regular review and update to a business plan can have for the owner of an existing, growing business.

Think about it ... now that your business is up and running, and you’ve invested significant time, energy and money into establishing your business, a regular check on how things are going is a SMART investment. It’s one that will help you keep your business on track and headed in the right direction. Beyond that, it will keep you in a 'ready position' for the next opportunity that will be headed your way – and that’s likely one that you won’t want to miss!

* As much as we enjoy helping start-ups, it’s even more important for an established or growing business to regularly review and update their business plan.

For those who are already in business, here are a few questions we ask our clients, to help them review their business plan:

1. Have you taken stock of how you and your business are doing? Are things moving in the right direction?
2. What’s the current long-term vision you have for your business?
3. What changes are taking place in your business environment and how will they impact your business?
4. What are the ‘strengths’ that you and each of your team members bring to the business?
5. Have you identified areas where ‘improvements’ should be, and need to be made in your business?
6. What things will you continue to do in your business, and what things are you planning to change?
7. What attracts customers to your business, and how can you increase that in the future?
8. What resources and strategic relationships will be key for success in the year ahead?
9. Have you established SMART goals (short-term, mid-term, and long-term) for your business?
10. How will you stay on-track and keep yourself accountable for what you’re trying to accomplish?

We’d be pleased to help you in assessing any of the above and more, as you prepare your plans for Business Success!

“Plan to have a great year in 2015!”

  From all of the team at Pro-Vision Solutions Inc.

Our Gift to You – To celebrate the new year and thank our customers, 'Click' on the graphic below for an instant 15% discount on our “PVS – Exploring Business Options” that you may find helpful in January 2015.  

(Alternately, 'scan' the QR Code, and enter the promotional code: 15-IN-2015

 

8 Questions Going into 2015

As we come to the close of another year, many of us will use the Christmas and New Year’s holidays to reflect on where we’ve been with our businesses, and consider what we’ll plan to accomplish in the year ahead.

Here are a couple of questions I’m hoping you’ll take some time to think about over the holidays. I’d be pleased to have you share your thoughts in a short reply or comment to any of them. Alternately, you may feel more comfortable discussing some of your answers with us within a more confidential setting. Please contact us directly by email if you’d like to do that, and we can make appropriate arrangements with you.

Here are our 8 questions to ponder:

1. What are the major business accomplishments that you’ve had for the most recent year?
2. What changes are taking place in your business environment, and are they now signalling a need for your attention?
3. Of the things you’ve been doing in business, what will you continue to do, and what are you planning to change?
4. What do you want to achieve in business for the year ahead?
5. How have you quantified and/or qualified your goals for the next year?
6. What is it that makes your business attractive to your customers, and how can you increase that in the future?
7. What resources and key relationships will be important for success in the year ahead, and how will you further build these for your business?
8. Have you prepared plans for your business for the new year?

If you’ve thought about your answers to the questions we’ve raised, are you putting your responses and your action steps into your business plan? The first step to achieving business success is to plan for that success. And those plans belong in your business plan.

The year ahead will be filled with many opportunities for business. Opportunities continually emerge as things change around us. The key is to recognize and respond to the opportunities that appropriately match any one of us. That’s why a regular review of the business plan is such a constructive step. Revisit your plan! It can be a valuable guide into your future.

For 2015 and beyond, we’ve found walking step-by-step with entrepreneurs and their team of business professionals to be key to maximizing opportunities. Please let us know if you’d like some help with this, as we have a number of valuable business planning processes, tools and resources available to help entrepreneurs as they start and grow their businesses.

All the best in 2015!
- Jim & Myrna Ewing

Pro-Vision Solutions Inc.

A GREAT START ... to a Great Start for NEW Entrepreneurs!

We had a great start and a full room on Wednesday evening with the first of four sessions in our most recent Business Start-up Seminar Series. This one is taking place in St. Albert, Alberta and it's running throughout the month of November. 

In the first half of our program, Dar Schwanbeck, Managing Director for the Northern Alberta Business Incubator and Marie Anstey, Registry Operations Manager for Drayden Insurance Ltd. provided attendees with some very good insights. And then, following our refreshment break and some getting to know each other a little better, Rob LeLacheur, Publisher of the St. Albert Leader weekly newspaper added some great value with his perspectives on starting and growing a business. This, together with a few thoughts on business plans that we provided on behalf of Pro-Vision Solutions Inc. has really set the stage to help our keen group of entrepreneurs as they move forward with their businesses.  

The "Business START-UP Seminar Series" provides participants with a great introduction to starting a business - in this instance, in the City of St. Albert. It will also help them to connect with a variety of helpful strategic partners, business owners, service providers and sponsors. Feedback from attendees has been positive and as has been experienced in other locations, the series will again prove to be an invaluable investment as they work their way through their business start-up and early-stage growth.  

Pictured to the right is Rob LeLacheur, Publisher, St. Albert Leader. Rob offered up some very practical tips related to business start-up. "Money can hide a lot of problems," he said. "So in whatever you’re doing, focus on where your resources can be best used." 






CBC Radio provided opportunity for Jim Ewing to speak with Mark Connolly, host of Edmonton AM. As mentioned in that conversation, we’re looking forward to providing similar events elsewhere. In fact, there's already been positive responses & interest from other communities.  A copy of the interview is on our YouTube Channel and can be seen at: http://youtu.be/0JDaMeJVakA
 

Small Business Week in Canada - Do we Need to Encourage Entrepreneurship?

It's "Small Business Week" in Canada, and there are many activities taking place to celebrate and encourage entrepreneurship. (Note #1)

 

If you're in business, or work with entrepreneurs, you'll likely be speaking with those who are wondering what’s involved in starting a business of their own. 

Do we need to encourage people to explore entrepreneurship? I think entrepreneurship is a part of an individual's career-path planning that shouldn't be ignored. More importantly, for those wanting to 'be their own boss', I think it's critical that they gain a solid perspective on what's ahead of them!

BTW - Let me quickly mention that in November I'll be facilitating a “Business START-UP Seminar Series” in St. Albert, Alberta. This is modelled on the very successful series I’ve done in Sherwood Park (Strathcona County) for the past 8 years. The St. Albert series is a collaborative effort that’s being supported by the City of St. Albert Economic Development, the St. Albert and District Chamber of Commerce, the Northern Alberta Business Incubator (NABI), ATB Financial and MNP LLP.  It's great to see the cooperation being provided by these community leaders and so many others!  If you know of someone who’s considering starting a business in St. Albert, more information and registration is available at: goo.gl/r2AJir

In a post seen on the website EconomicDevelopment.org Stephen Daze says, 

"It’s no surprise that global leaders are increasingly looking at entrepreneurship as a way to grow jobs and stimulate economies.  In Canada, approximately 68% of net new jobs are created by small and medium sized enterprises (Statistics Canada) and from 1980 to 2008 all net new job growth in the USA came from firms five years or younger (Kauffman)."

There's good reason for encouraging entrepreneurship. As we've seen in the recent past, many large firms and organizations are trimming their payroll numbers and it's new businesses that generate job growth.  Daze notes a Kauffman-funded study of youth aged 8-21 where 40% of respondents expressed interest in entrepreneurship as a career option.  He rightly asks: "What are we doing to stimulate interest in entrepreneurship and provide support to young entrepreneurs?" (Note #2)

So let me ask: "What (if anything) should we be doing to stimulate entrepreneurship, for anyone?"

ALSO - In a post to the "Provision Exploring Mentorship BLOG" on this same day, we provided some important information related to encouraging the growth and development of entrepreneurs, and the role a Mentor can play in that process. Learn how to improve the quality and results you experience ... and gain some insights on developing your business plan as well!

What are your thoughts on this topic? 
Please feel free to add your comments below.
 
Note #1: See a short video clip from the Business Development Bank of Canada regarding Small Business Week by clicking HERE.


Note #2:   Source of the Stephen Daze quote noted above was from the website URL: http://economicdevelopment.org/2013/05/canadian-universities-receive-near-failing-grade-for-campus-entrepreneurship-support/