Canadian Entrepreneur

Look for the rising tides -- and leave some upside on the table

2026-01-13T11:09:00.002-05:00

Toronto-based Yung Wu, a serial entrepreneur and former chair of MaRS Innovation District, offers the best one-page Entreprenurs' Playbook I've ever seen.

You just know that every lesson here was learned in real time.

Click to embiggen, or download.

Follow Yung's blog at https://www.nfqventures.com/

Message to local governments: How best to help your most ambitious entrepreneurs

2025-12-04T17:43:00.005-05:00

The best blog topics surface organically. This post began as a Linkedin discussion with my friend and NextStars colleague, Saeed Zienali.

Saeed posted about his chat with the mayor of Richmond Hill, a growing city north of Toronto. He praised Richmond Hill for how they help entreprneurs succeed. Then he wrote,

"Richmond Hill is emerging as a hub for innovation and entrepreneurship, attracting global talent and investment. With one of the most diverse populations in Canada, this region understands that immigrant entrepreneurs are not just contributors to the economy, but drivers of it.

At NextStars , we see firsthand how connecting international founders with Canadian ecosystems creates jobs, brings fresh capital, and positions Ontario as a destination for global innovation.

The municipalities that embrace this mindset will lead the next wave of economic growth. Excited to explore how we can collaborate to make that happen."

I thought that was very good insight. But in the comments, I asked him to take things a bit further: "What do you think are the best tools that municipalities have to attract and support new entrepreneurs?"

Rick and Saeed bring the energy
at Scotiabank Arena, May 2025.

Saeed's response provided lots of ideas on how municipalities can best help local entrepreneurs succeed:

"Great question, Rick. My research shows Richmond Hill already has a solid foundation with its Small Business Enterprise Centre offering free consultations, mentorship, and grant programs like Starter Company Plus that have supported over 150 young entrepreneurs.

To take it further, municipalities can create welcoming environments where entrepreneurs from all backgrounds feel they belong, develop navigation services connecting newcomers to resources they may not know exist, convene stakeholders in the same room to support new ventures, and expand mentorship programs pairing experienced leaders with emerging founders.
What do you think!?"

I loved Saeed's answer. The secret to cities helping entrepeneurs is not through formal programs, but by helping them forge connections: to markets, to talent, to expertise, to mentorship, to capital.

Since Saeed asked, I offered these thoughts, based on my three decades of interviewing and supporting growth entrepreneurs.

"I think very few communities have the insight and patience to deal with impatient, ambitious growth entrepreneurs. They're a very rare species, like hothouse flowers, and they need lots of light and care to grow.
In my experience, most communities do an okay job of aggregating information to give new entrepreneurs when they come calling, but they don't have a clue how to help these trail-breakers progress in their journeys.
City administrations need to embrace all aspects of entrepreneurship, and build local contacts in all industries, at all stages of growth, so they can connect these special people to each other and the specialized resources they need.
You're right, it's all about connection."

Helping entrepreneurs is not a rote civil-service, fill-out-these-forms job. My friend Ken Tencer of Say Hi To the Future joined the conversation to point out how alert, caring and nimble civil servants can really help local entreprenurs:

"You need space, mentorship, education and 'real' access to capital (not just a link to a website). I have been very impressed by some forward-thinking organizations who organize investors to come in and pitch the entrepreneurs — this is our firm, our mandate, our deal parameters and our expectations from you, the entrepreneur. It demonstrates a willingness to work with the entrepreneurs."

Every community wants and needs organic growth. Home-grown and immigrant entrepreneurs are your best hope. But municipal advisory services have to meet them where they are -- and understand their real needs.

Launching a Longshot: Never give up on your dreams

2025-11-19T22:44:00.010-05:00

Rocket Lab is a New Zealand spacecraft company founded in New Zealand that I wrote about several years ago. The founder, non-engineer but rocket fanboy Peter Beck, has been in the news lately for lots of reasons - some good, some bad.

The key takeway is that this maverick satellite-launching company is now worth US$23 billion. The stock price, while erratic lately, is up over 800% in the past three years.

Click to read my 2017 column in the National Post on Peter Beck and his journey to building a 21st-century space company in the southern hemisphere.

Highlights:

"Like many kids, Beck began experimenting with home-made rockets. He says he comes from a long line of engineers, and before that, blacksmiths. He experimented with engines and combustion chambers, created a rocket-powered bicycle that went 160 mph, and even built a rocket pack to propel him forward on a scooter. How fast was that? “Faster than I could control,” he says."

"On his flight back to New Zealand [from visiting NASA], Beck decided to create his own rocket-launching business — and even designed the space-age logo his company still uses. He believed his system could revolutionize satellite launches. More organizations would be able to launch weather satellites, observation cameras and sensors, or even provide Internet access from space. Once space became affordable, he knew it would spawn new services and entirely new industries."

"Beck worked for years without a salary. To stay afloat, Rocket Labs performed contract R&D on propulsion and guidance systems for the U.S. Defense Department’s advanced research agency and other international organizations. “That’s how we built our credibility and reputation,” he says, “so I could try to raise capital.”

“My definition of success will be that space has become a domain no different than building infrastructure anywhere else,” says Beck. “The domain of the few will become a domain for the many.”

Never give up on your dreams.

We interrupt this blog for lions, elephants, giraffes and a warthog

2025-10-23T00:48:00.012-04:00

Someone suggested I post some of my South Africa safari pictures here. My response: try and stop me!

I flew into Johannesburg in February, looked around for a couple of days, then rented a car and drove 300 miles to Kruger National Park. I "camped" in rough, atttached huts (think 1959 motel quality) in a few different fenced compounds - there's no exploring Kruger on foot or camping outside the fence. (For reasons that soon become obvious)

I took truck safaris that leave just before sunset and just before sunrise. And I drove from compund to compound by myself. (I also did a walking safari, where I was cautioned for dawdling. It wasn't that I couldn't keep up - I just kept pausing to take too many pictures!)

The whole experience was wonderful. All the South Africans I met were warm and welcoming. And considering my "good" camera conked out just before I left, I got some pretty good pix with just my phone.

My first elephant!

Zebra herd

Giraffes in a relationship

There's a hippo in my bathtub!

Sunrise Buffalo

Rare warthog sighting

She was as curious about me as I was about her!

This lion walked right by our truck, untroubled by 40 tourists.

But if it had been just one person, he would have pounced!

The lion's girlfriend followed close behind, but stopped for a few minutes to size us up.

Ranger Rick at 4 am.

Getting Started with AI in your Business

2025-09-15T13:23:00.004-04:00

Today I recorded a podcast with Google's Natasha Walji about how AI is changing the game for Canadian entrepreneurs. (I will link to the pod when it's available.)

I'm still new at this - as many entrepreneurs are. But it turns out that it's easy to get started with AI. Just find the right prompt, and see what it can do for you.

AI can help with so many problems, from prioritizing to strategy, from marketing to
production. But as always, the better you frame your questions, the better the results will be.

Walji urges entrepreneurs to embrace curiosity and a learning mindset to find the best ways AI can help their business. "You don't have to be a know-it-all," she says. "Be a learn-it-all."

To get you started, I just asked Google Gemini, "What are the 7 best prompts to begin using AI to manage my business?"

Here's what Gemini gave me back. I think you'll find lots of ideas to get you started on this brave new road.

===================

The key to getting the most out of AI is to use specific and well-structured prompts.

Here are 7 of the best types of prompts to begin using AI to manage your business, categorized by function:

1. For Strategic Planning and Market Analysis

These prompts help you gain a better understanding of your business's position in the market, identify opportunities, and create a roadmap for growth.

Prompt: "Act as a business strategist. Conduct a SWOT analysis for my business, [Your Company Name]. Our strengths are [list strengths], our weaknesses are [list weaknesses], our target market is [describe target market], and our industry is [industry]. Identify key opportunities and threats, and suggest a plan to leverage our strengths to mitigate our weaknesses and capitalize on opportunities."
Why it works: This prompt provides the AI with a clear persona and all the necessary context to generate a thoughtful and relevant analysis. The specific details about your company and industry will lead to a more tailored and actionable response.

2. For Marketing and Content Creation

AI excels at generating a wide range of marketing materials, from social media posts to email campaigns and ad copy.

Prompt: "Act as a marketing copywriter. Write a series of three social media posts for [Platform, e.g., LinkedIn, Instagram, Facebook] announcing the launch of our new [product/service]. The tone should be [e.g., exciting, professional, fun], and the goal is to [e.g., drive sign-ups, increase brand awareness, generate sales]. Include relevant hashtags and a clear call-to-action."
Why it works: This prompt is highly specific, providing details on the content type, platform, tone, and objective. This allows the AI to generate a highly targeted and effective marketing message that aligns with your brand.

3. For Customer Service and Communication

AI can draft professional and empathetic responses to customer inquiries, saving time and ensuring consistency.

Prompt: "Act as a customer service representative. Draft a polite and professional email response to a customer who is unhappy with their recent purchase of [product]. The customer's main issue is [describe the issue]. Provide a solution that offers a [e.g., full refund, store credit, replacement] and maintains a positive relationship. The company policy is [describe policy]."
Why it works: By giving the AI a role and a clear set of parameters, you can ensure that the response is both helpful and on-brand. Including details about the customer's issue and your company's policy prevents the AI from making unhelpful or inaccurate suggestions.

4. For Financial Analysis and Reporting

AI can help you make sense of complex financial data and create clear, concise reports for stakeholders.

Prompt: "Act as a financial analyst. Analyze our Q3 financial data from [attach or paste data]. Identify key trends in [e.g., revenue growth, expenses, profit margins]. Summarize the findings in a concise executive summary and highlight two areas for potential cost savings and two areas for revenue growth in the next quarter."
Why it works: This prompt assigns a specific role and provides the AI with a task that leverages its analytical capabilities. The request for a summary and specific recommendations helps you get actionable insights rather than just raw data analysis.

5. For Operations and Productivity

AI can help you streamline workflows, create checklists, and improve efficiency.

Prompt: "Act as an operations manager. Create a step-by-step project timeline for launching our new [product/service] in the next three months. Include key milestones, potential roadblocks, and a plan for how to address them. The timeline should include tasks for [e.g., marketing, sales, product development, logistics]."
Why it works: This prompt uses a specific persona and asks for a structured, multi-step plan. By identifying the different teams involved, you ensure the AI's response is comprehensive and considers all aspects of the project.

6. For Human Resources and Hiring

From writing job descriptions to drafting employee communications, AI can help you with a variety of HR tasks.

Prompt: "Act as an HR manager. Write a compelling and inclusive job description for a [Job Title] role. The key responsibilities include [list responsibilities], and the required skills are [list skills]. The job description should also highlight our company culture of [describe culture] and be designed to attract diverse candidates."
Why it works: This prompt provides all the necessary information for a detailed job description while also guiding the AI to focus on important elements like inclusivity and company culture.

7. For Brainstorming and Problem-Solving

When you're facing a challenge, AI can be a great partner for generating ideas and exploring solutions.

Prompt: "Act as a creative consultant. We are looking for new ways to [e.g., attract new customers, retain existing clients, increase brand loyalty]. Brainstorm 10 innovative and cost-effective ideas, with a brief explanation of each, that we could implement in the next quarter."
Why it works: This prompt is open-ended and leverages the AI's creative abilities. By providing a clear objective and a desired number of ideas, you can ensure the output is focused and easy to digest.

Artificial intelligence can be a powerful tool for business management, helping to automate tasks, analyze data, and generate creative content. The key to getting the most out of AI is to use specific and well-structured prompts.

Here are 7 of the best types of prompts to begin using AI to manage your business, categorized by function:

1. For Strategic Planning and Market Analysis

These prompts help you gain a better understanding of your business's position in the market, identify opportunities, and create a roadmap for growth.

Prompt: "Act as a business strategist. Conduct a SWOT analysis for my business, [Your Company Name]. Our strengths are [list strengths], our weaknesses are [list weaknesses], our target market is [describe target market], and our industry is [industry]. Identify key opportunities and threats, and suggest a plan to leverage our strengths to mitigate our weaknesses and capitalize on opportunities."
Why it works: This prompt provides the AI with a clear persona and all the necessary context to generate a thoughtful and relevant analysis. The specific details about your company and industry will lead to a more tailored and actionable response.

2. For Marketing and Content Creation

AI excels at generating a wide range of marketing materials, from social media posts to email campaigns and ad copy.

Prompt: "Act as a marketing copywriter. Write a series of three social media posts for [Platform, e.g., LinkedIn, Instagram, Facebook] announcing the launch of our new [product/service]. The tone should be [e.g., exciting, professional, fun], and the goal is to [e.g., drive sign-ups, increase brand awareness, generate sales]. Include relevant hashtags and a clear call-to-action."
Why it works: This prompt is highly specific, providing details on the content type, platform, tone, and objective. This allows the AI to generate a highly targeted and effective marketing message that aligns with your brand.

3. For Customer Service and Communication

AI can draft professional and empathetic responses to customer inquiries, saving time and ensuring consistency.

Prompt: "Act as a customer service representative. Draft a polite and professional email response to a customer who is unhappy with their recent purchase of [product]. The customer's main issue is [describe the issue]. Provide a solution that offers a [e.g., full refund, store credit, replacement] and maintains a positive relationship. The company policy is [describe policy]."
Why it works: By giving the AI a role and a clear set of parameters, you can ensure that the response is both helpful and on-brand. Including details about the customer's issue and your company's policy prevents the AI from making unhelpful or inaccurate suggestions.

4. For Financial Analysis and Reporting

AI can help you make sense of complex financial data and create clear, concise reports for stakeholders.

Prompt: "Act as a financial analyst. Analyze our Q3 financial data from [attach or paste data]. Identify key trends in [e.g., revenue growth, expenses, profit margins]. Summarize the findings in a concise executive summary and highlight two areas for potential cost savings and two areas for revenue growth in the next quarter."
Why it works: This prompt assigns a specific role and provides the AI with a task that leverages its analytical capabilities. The request for a summary and specific recommendations helps you get actionable insights rather than just raw data analysis.

5. For Operations and Productivity

AI can help you streamline workflows, create checklists, and improve efficiency.

Prompt: "Act as an operations manager. Create a step-by-step project timeline for launching our new [product/service] in the next three months. Include key milestones, potential roadblocks, and a plan for how to address them. The timeline should include tasks for [e.g., marketing, sales, product development, logistics]."
Why it works: This prompt uses a specific persona and asks for a structured, multi-step plan. By identifying the different teams involved, you ensure the AI's response is comprehensive and considers all aspects of the project.

6. For Human Resources and Hiring

From writing job descriptions to drafting employee communications, AI can help you with a variety of HR tasks.

Prompt: "Act as an HR manager. Write a compelling and inclusive job description for a [Job Title] role. The key responsibilities include [list responsibilities], and the required skills are [list skills]. The job description should also highlight our company culture of [describe culture] and be designed to attract diverse candidates."
Why it works: This prompt provides all the necessary information for a detailed job description while also guiding the AI to focus on important elements like inclusivity and company culture.

7. For Brainstorming and Problem-Solving

When you're facing a challenge, AI can be a great partner for generating ideas and exploring solutions.

Prompt: "Act as a creative consultant. We are looking for new ways to [e.g., attract new customers, retain existing clients, increase brand loyalty]. Brainstorm 10 innovative and cost-effective ideas, with a brief explanation of each, that we could implement in the next quarter."
Why it works: This prompt is open-ended and leverages the AI's creative abilities. By providing a clear objective and a desired number of ideas, you can ensure the output is focused and easy to digest.

CEOs are in the simplification business

2025-08-22T18:57:00.002-04:00

I just sent a note to a friend embarking on his first business media project, to help him understand his audience.

Business leaders are a coveted audience, and they are always looking for relevant information and intelligence. But they are elusive, always busy, and very hard to reach.

Which means you have to carve a message that gets through to them immediately. You may only get one shot.

So here is my advice:

Business leaders are in the simplification business.

They demand inputs that are clear and uncomplicated, and their outgoing messaging is very much the same. Give them too much detail and their eyes glaze over.

So make sure your messaging is always easy to follow, shuns technical jargon, and avoids unnecessary complications. CEOs want clear solutions and easy-to-follow strategies for success.

As the writer/marketer, value their needs over your own. Use the word "you" at least three times more often than you use "I" or "me" or "us."

The buck stops here. But so does nuance, indecision, evasion and ambiguity.

Five Rules for Selling to Small Business

2025-08-16T09:29:00.003-04:00

"Never close the door on someone wanting help"

2025-07-23T16:56:00.002-04:00

My friend Michael Hughes, a networking coach/advisor in Ottawa, believes relationships are the root of business success. He underscored that commitment today when he published a newsletter article revealing his list of 10 personal goals and values. They turn out to be very apsirational, but practical and also doable.

I like to think I live by my values, but I was never smart (or brave) enough to actually write them down.

Michael shared this list in hopes they might inspire others. And I am proud to amplify his list of goals and values by republishing them here, with his permission.

Almost thirty years ago, as I was finding my way as an entrepreneur, I wrote a list of 10 personal goals and values. They aren't world-changing; but they were important to me at the time.

They have guided my intentions and my actions. They remain my moral compass and guide me to this day

I'm listing them below in hopes that they encourage you to create your own, if you haven't already.

P.S. It's not how many there are that matters; it's your commitment to the ones you decide on that does.

Michael Hughes' personal goals and values

Secure financial freedom. Make enough money to do the things I want to do. Live comfortably. Take care of my family.

Own my own company. Decide my own future; be master of my own fate. Have the ability to choose how and when to work.

Do work which I enjoy. Do things based on the fact that I believe they are worthwhile. Be creative. Lead.

Always maintain the highest level of integrity and professionalism in all business relationships. Never make money at someone else's expense. Do business with people who believe in my abilities and capabilities.

Ensure that all relationships are positive and in the best interests of all parties. Work on the basis that I will be working for or with this person in the future. Come out of business relationships feeling that I have gained something. Make the customer #1 and they'll take care of you.

Help others grow where possible. Always seek out individuals who could have a positive impact. Never close the door on someone wanting help.

Continue expanding horizons and learning new things. Make it a point to learn from every experience. Look for new experiences.

Meet interesting and compatible individuals. Always take the first step in relationships. Never be afraid to go out of my way to meet or spend time with someone new.

Travel and see other parts of the world. Take the initiative to travel whenever it presents itself. Plan future travel, especially with the family.

Be the best person I can be. Always be positive. Try to help when I can. Treat people as I want to be treated.

Notes from Rick again: Which of these values are your favourites?

I particularly love "Never make money at someone else's expense," and "Work on the basis that I will be working for or with this person in the future. Come out of business relationships feeling that I have gained something."

If you follow guidelines like these, you can't go wrong.

You can learn more about Michael at https://networkingforresults.com.

"Talk to 100 customers"

2025-07-18T00:27:00.004-04:00

Talking to some startup entrepreneurs yesterday, I got the definite feeling they haven't spent enough time talking to customers. It reminded me of some of my conversations with Steve Blank, one of the original Silicon Valley tech entrepreneurs, founder of the "Lean Startup" concept, and the guy who first recognized that startups aren’t baby businesses – but platforms for testing business ideas (which he insists on calling hypotheses).

Steve has been hammering this idea home for four decades now. But it never gets old, because we all know entrepreneurs who have great business ideas, but would rather stick pins in their eyes than actually go visit customers and ask what they need.

Click here to read one of columns stories on this subject, still alive and kicking at the Financial Post.

If you don't have time to click, here’s the meat of the interview:

SB The lean startup now has three components. They are all based on the fact that for a startup, there are no facts inside your building. While you might be the smartest person inside your building, there’s no possible way you could be smarter than the collective intelligence of your potential customers.

I remind my students at Stanford and Berkeley that while you think you understand the problems of your customer, all you really have is a series of untested hypotheses. So the whole idea of the lean startup is to validate, or test, your guesses before you spend a lot of time and money on it.

RS But I know so many entrepreneurs who really like their office, or their garage. They leave there only reluctantly.

SB That gets to the core of, What is an entrepreneur? A founder is a visionary; a founder sees something or hears something other people don’t. But it turns out that if you’re a founder, and you envision something new, the odds are you’re hallucinating, not being a visionary. You’re actually seeing things that aren’t there.

To differentiate the hallucination from the vision requires you to get out of the building and validate: Is this a mirage? Is my passion overwhelming the rest of my senses? That’s what makes customer development hard. It just goes against the DNA of a founder who says, “Let me just build this. Get out of my way!”

And here’s the big idea. In the old days, investors would expect that if there was any failure, it was your problem. You personally failed. Now we know that startups go from failure to failure, learning as fast as they can. And this process allows us to do that learning as quickly as we can.

RS What about the shy entrepreneur? Is there no way they can get out of this without talking to customers?

SB No. When we teach this process to 22-year-olds in hoodies and flip-flops, or to 52-year-old scientists, by the time they’re done they will have talked to 100 customers, eyeball to eyeball. There is no faking that data. There’s no denying what you’ve heard.

The Canadian Entrepreneurship Advantage

2025-02-27T03:35:00.009-05:00

In Dubai yesterday, as part of my work with NextStars, a Toronto-based business advisory/mentoring firm, I gave a speech to a group of entrepreneurs and immigration consultants from many nations about what makes Canada such a great place to start, grow or invest in a business. My theme was "community."

In the spirit of sharing, here's an excerpt from that speech.

"A few facts about Canada you may not know. Canada is the world's second-largest country - but 90% of us huddle within 300 km of our southern border. We have 40 million people, and the world’s ninth-largest economy. Our official languages are English and French, but we are proud to be one of the world’s most culturally diverse societies. Wherever you come from, you will find community in Canada.

Canadians don’t like to boast, but we also have a proud record of invention and innovation. Canadians gave the world the snowmobile and the snowblower - well, duh - but also the light bulb, the telephone, insulin, Pablum, peanut butter, standard time, and the first cell phones with email (remember the Blackberry?). But we're not done yet. Canadians also developed kerosene, color movies, alkaline batteries, the Java programming language, and the push-up bra (are we allowed to say that in Dubai?). Something for everybody.

Canada also produces amazing entrepreneurs. Have you heard about the World Entrepreneur of the Year program run by the accounting firm EY? Canadians won this global crown in Monaco twice in its first 16 years - one of just three countries to do so (along with the US and India).

The first winner was Guy la Liberte, founder of Cirque du Soleil, still dazzling audiences with shows and tours around the world.

Ten years later, the world crown went to another globally minded Canadian, Murad Al-Katib, founder of AGT Foods in Regina, Saskatchewan. AGT is the world’s largest producer of pulse crops (that is, beans, lentils and chickpeas). Murad, the son of immigrants from Turkey, didn’t win just for surpassing $1 billion in sales, from changing the future of agriculture in Saskatchewan, or for his dream of ending world hunger with plant protein. The EY judges loved that AGT had provided 700 million rations for the United Nations’ food program for Syrian refugees.

Canadians. Community.

Two more all-star entrepreneurs. When the U.S. network ABC licensed the rights to Dragons' Den, the hit British TV show with superstar entrepreneurs competing for deals, they renamed the show Shark Tank. And they hired two successful Canadian entrepreneurs, Kevin O'Leary and Croatian-born Robert Herjavic, to pretend to be American entrepreneurs. So, never let anyone tell you that Canadian entrepreneurs are not world-class - or that you have to be born in Canada to succeed there.

In fact, Canada’s version of Dragons’ Den has featured three other immigrant entrepreneurs: chef Vikram Vij, from India; fashion mogul Joseph Mimran, from Morocco; and financier Wes Hall from Jamaica.

Canada has always depended on immigrant entrepreneurs and investors - and we still do. Because they don’t just bring money, ideas and business savvy - but an appetite for change and improvement.

As a business journalist for 30 years, I’ve had the opportunity to meet so many outstanding Canadian entrepreneurs. Those experiences, and working with Saeed Zeinali of NextStars, has enabled us to articulate a new model of Canadian entrepreneurship.

For too long, we’ve bought the Silicon Valley ethos of “disruption”. Move fast and break things. But Canadian entrepreneurship is different. Canadians believe in collaboration over confrontation. They love their customers. They want to fix things, not break them. They make business more efficient, more human. They believe in win-win-win - for their suppliers, their customers, and themselves. And they pursue global markets from the get-go.

All these characteristics give Canadian entrepreneurs a strong start and ongoing advantage."

What do you think of our thesis?

Why are Trump's lies so effective?

2024-11-13T13:18:00.010-05:00

As a lifelong journalist (I co-founded a classroom newspaper in grade 5), I have always venerated truth. Which is why serial liar Donald Trump’s second election win intrigues me, even as it outrages me.

I understand that millions of MAGA members believe his ridiculous lies, and have been relentlessly programmed to ignore more informed points of view.

But how does he hook them (and keep them)?

My investigation begins by asking Perplexity.ai:

Why are Trump's lies so effective?

Its responses (printed below) are plausible and compelling - and often alarming. I have "bolded" some of the most intriguing ideas below, and I will be studying them for a while.

So should you. The tools of rhetoric and persuasion can be used for good as well as bad.

Perplexity.AI: Donald Trump's lies have proven effective for several key reasons:

1. Repetition: Trump frequently repeats false claims, exploiting the "illusory truth effect" where people tend to believe information after repeated exposure. His strategy of "As long as you keep repeating something, it doesn't matter what you say" demonstrates his conscious use of repetition

2. Emotional appeal: Trump's lies often appeal to emotions rather than rational thought. For example, his claims about immigrants "eating pets" in Ohio are designed to provoke fear and outrage rather than encourage factual analysis.

3. Confirmation bias: Many of Trump's supporters are predisposed to believe his statements, even when presented with contrary evidence. This is partly due to extreme partisan polarization and low trust in institutions

4. Media manipulation: Trump's lies often dominate news cycles, forcing media outlets to repeat his claims even when debunking them. This gives his falsehoods more airtime and visibility

5. Lack of consequences: Despite numerous fact-checks and debunkings, Trump has faced few significant political consequences for his lies, which may embolden him to continue.

6. "Big Lie" technique: Trump often employs what some describe as the "big lie" propaganda technique, where the sheer audacity and scale of the falsehood make it seem more believable to some.

7. Tribal loyalty: Many Republican voters and politicians continue to support Trump despite his lies, either excusing them or believing them outright, which reinforces their effectiveness within his base.

8. Episodic thinking: Trump appears to focus on "winning" each moment rather than maintaining consistency over time, which allows him to contradict himself without apparent concern.

9. Distrust in traditional sources: Trump has successfully undermined trust in mainstream media and institutions among his supporters, making them more likely to believe his version of events.

10. Entertainment value: Some supporters appreciate Trump's lies as a form of political theater or as attacks on elites they resent, rather than judging them on factual merit. These factors combine to create an environment where Trump's lies can be effective despite their demonstrable falsehood, particularly among his core supporters.

There's lots in here that can help anyone - individual, speaker, marketer or influencer - communicate more clearly and memorably. What is your favourite takeaway from this list?

Three keys to great leadership

2024-10-28T16:25:00.009-04:00

There are more books on leadership than you could read in a lifetime.

Yet few people understand leadership, and I suspect more people break the rules of leadership success than actually follow them.

In my career I have worked with leaders who imposed rules and demanded respect for the hierarchy that supported them, yet failed miserably to describe their goals or inspire anyone to give a care. They could acknowledge great performance when they saw it, but they never really defined what they expected – let alone earned the trust which would enable their teams to perform beyond targets.

All of which is to say… Leadership is hard. It's called a “soft skill,” but leadership is as hard as diamond, and tougher to crack.

Leadership is especially challenging for entrepreneurs, who often lack formal business training (or skipped their management classes to focus on their startups). Most entrepreneurs learn to be “bosses” on-the-job, which is of course a major reason why 90% of startups fail.

My three shortcuts to great leadership:

· * Leadership is all about preparation. You have to X-ray your organization or business plan to make sure you understand it completely – and what has to be done to carry it out. You need to have the right people on the bus in the right seats (as they say in Good to Great). Few leaders can get the results they need with the wrong people or the wrong plan. It’s your job to know where you're going, your job to hire the people to get you there, and your job to set the goals that help your team understand what success looks like. There’s a lot of improvisation in leadership – but the less there is, the better.

“Leadership is action, not position.” That's one of my favourite quotes, from former broadcasting CEO Donald McGannon. Whenever you find yourself thinking too much, this quote will remind you to get out of your office and go talk to your team. They want to know what you are thinking, how you would do things, what opportunities you are seeing now. A business is nothing without optimism and inspiration. That’s your real job now.

· Leadership is Feedback. “How’m I doing, coach?” is the question on the mind of every athlete – and your best employees want feedback, too. So many companies offer employees feedback just once or twice a year, usually at tension-filled reviews where all employees really want to know is if they’re going to get that raise.

Every day is an opportunity to give people feedback! Use active questions to find out what they need. Ask employees how they're doing, ask what they think they could have done differently, ask if they need anything else to do a better job. Then tell them stories about how you might solve a problem similar to the one they're facing now. Pat them on the back, invite them to try something new, and let them know you're always available to talk more.

Leadership is also about consistency (but not conformity). Make sure all the other leaders in your organization follow your example. Sometimes it’s the lieutenants that screw everything up for the whole army – because they haven't had much leadership training either, but they also don't see the big picture you do – so they may not understand how important their leadership is.

Business is always changing; everyone is learning every day. Follow these rules and your whole organization will move forward, together, faster.

How to convert uncommitted customers

2024-09-05T23:23:00.005-04:00

(A trusty article written in 2009)

At a ramshackle roadside tourist market on the north coast of Jamaica, if you stop to investigate the goods in one stall, the high-spirited vendors who eke out a living there insist you visit them all. I managed to escape on one recent trip by saying I had a bus to catch (which was true), and that I would return the next day (which was possibly true).

But I was humbled by one young vendor who implored me to visit her stall. When I said I had to go, she responded, “But you said you’d come back tomorrow. You’ll come back, right?” I assured her I would. And so I did, because her earnest questioning had transformed my feeble excuse into a solemn commitment.

Her brilliant marketing tactic made me wonder how many Canadian entrepreneurs are equally adept at winning commitments from potential prospects. What do you do to elevate your relationship with customers who are “just browsing” to increase your chance of landing a sale tomorrow that you didn't make today?

This is one task that’s more easily accomplished online than IRL (“in real life,” for those who didn't know that reality is now just an acronym). If someone has visited your website, but is about to slip away without leaving their name, you can easily generate an automated “Going so soon?” screen that offers casual visitors an additional benefit (a brochure, newsletter, white paper or “special report”) if they provide their name and email address. That gives you one more shot at demonstrating the value you create, or adding the prospect to your mailing list.

Some online marketers structure that “last chance” offer as a survey, giving them a chance to learn more about the prospect, or to obtain feedback on their site or product offerings. But I think most companies should try harder than that when they play this game. Why not offer a free sample or coupon to anyone who leaves their contact points on your site, or urge them to enter a contest and win a prize?

Business, after all, is more than a succession of rational transactions. To build robust customer relationships in today’s busy markets, you need a little showmanship. Just because your competitors don't use fun, style or surprise as a business tool is no reason you shouldn't. Selling is about differentiation, not conformity.

Back in real life, wringing commitment from tire-kickers has to be a more personal, creative act. You and your employees have to be trained to carefully manage potential purchasers. But how often do businesses let them get away?

Just last week, a friend and I met for drinks. Feeling peckish, he also asked for a menu. When the server returned for his order, my friend said he'd changed his mind – nothing on the menu interested him. A well-coached server would have said, “What do you feel like? Maybe we can help you out.” (Our server ambled back to the kitchen.)

Therein lies the secret of winning over reluctant customers: you need to create a dialogue. Not in a “what-can-I-do-to-sell-you-this-car-today?” kind of way, but a genuine conversation aimed at solving the prospect’s problems rather than filling your weekly quota.

At the souvenir market in Jamaica, the attendants, like sales people everywhere, asked what I was looking for. That’s the wrong question. (I had no idea. Does anyone go shopping with the intention of buying island-shaped key chains?) They should have asked more focused questions such as “Who are you buying for?,” or, “What have you seen already that you liked? Maybe I can help you find something better.”

If a prospect just won't buy today, don't let them get away. Request their business card, or ask them to fill out their name and address to be notified of your next sale or new-product launch. Maybe, just maybe, you could let them take a sample product home if they promise to bring it right back tomorrow. If you are running out of ideas and your prospect is in a hurry, ask if you can call them back tomorrow with a custom solution.

Better still, develop specific tools for engaging the indecisive. A no-questions-asked returns policy may ease some buyers’ fears. Handing out a binder filled with positive testimonials from satisfied customers will reassure others. For cost-conscious clients, have a strategy ready to bring down the cost of ownership: a “value-priced” line of comparable products, flexible financing, or escalating discounts for multiple purchases.

Your employees may have additional solutions to offer. Why not hold a contest to see who can submit the best ideas for converting prospects into buyers? That will go a long way to building the can-do culture you need.

A successful business owner told me that a new customer recently asked if he could supply a certain product that he had never actually handled before. “What did you tell him?” I asked. “I’m an entrepreneur,” he said. “The answer is always yes.”

What are some common reasons for the failure of startups?

2024-07-20T13:17:00.001-04:00

Quora asked me to reply to this question:

What are some common reasons for the failure of startups? Is it primarily due to poor leadership or a lack of vision?

I don't think it has much to do with either of those problems. Vision and leadership are both secondary to hard work and experimentation.

So here is my response to the question...

There are many possible answers to this. I will share three of my favorites:

* Failure to pivot: Every startup is a gamble. It’s an assumption that your business model will find the best product-market fit. But most startup assumptions are flawed – which means you have to test your assumptions as quickly as possible, adjust your offering as best you can, and then test again. This process can take a long time. It’s like threading a needle. There are no shortcuts.

Sometimes founders can be arrogant, and think they know best. Others are willing to pivot once, or twice, but then lose focus and never find the right product-positioning-pricing-distribution model. You must recognize that the market is always right – and you never stop testing.

* Insufficient funds: Startups always take longer and cost more than you expect. Smart entrepreneurs calculate realistic budgets based on everything taking twice as long as they predict, and costing twice as much. Your business will fail if you run out of funds before you find that elusive product-market fit.

* One-channel marketing: Some founders think that if they put up a storefont sign, customers will come. Others think if they can just land that interview with Wired or a review in The New York Times, everything will go great. But there is no magic bullet in business.

You need awesome, mouth-watering marketing messages in multiple channels: storefront, web, search, social media, local radio, trade press, etc. You may think you have the perfect offer, and the right media channel – but you will never know until you test different messages and multiple media.

Starting a successful business is hard. There are many more ways to fail than succeed.

Patience and preparation separate the winners from the losers.

A tribute to some of Canada's journalism giants

2024-07-04T23:19:00.005-04:00

Like many of you, I no longer subscribe to a paper newspaper. I subscribe to three paper magazines, and many online newspaper news sites - but I rarely peruse a daily newspaper any more.

And I know I am missing so much. Newspapers expose you to headlines and news you didn't know you were interested in, so they broaden your horizon - unlike the skeletal links on a news website. I no longer know what is happening that doesn't make the front page. And among many other things, as I have mentioned recently to friends, I no longer know who is alive or who is dead.

This morbid condition came to my attention today when I watched a few videos from the Canadian Journalism Foundation's annual awards dinner, held last month. One video I watched was the annual "In Memoriam" tribute to journalists who have passed away in the last year -- and I was shocked to see so many names and faces who were giants of journalism, many of whom I looked up to when I was just starting out.

In case you missed the news, here are some of the legendary journalists who passed away in 2023-24. You'll recognize quite a few of them. (I have attached a credit or two to each, but most of them enjoyed many other accomplishments as well.)

Hail and farewell to:

John Howse: Southam News energy writer, Maclean's magazine

Keith Spicer: Reporter, editor, CRTC chair, and head of the vital Citizens Forum on National Unity (aka the Spicer Commission).

Robert MacNeil: TV newsman who spent most of his career in American media. He was on

the spot when JFK was shot in Dallas in 1963; also anchored the MacNeil Lehrer NewsHour (which later became PBS NewsHour).

Rex Murphy: CBC commentator.

Helen Brimmel: Guelph journalist who was one of the first women to work in the Parliamentary Press Gallery,

Elizabeth Gray: CBC, former host of The Journal, As It Happens, and Cross-Country Checkup.

Peter C. Newman: Legend. Reporter, book author, Toronto Star editor, and the editor who turned Maclean's magazine into a newsweekly.

Joan Hollobon: Pioneering Globe and Mail medical reporter, 1959 to 1985.

Geoff Stevens: National columnist, managing editor, Globe and Mail; CBC political commentator. He once pointed out we had the same haircut.

Susan Kastner: Edgy Toronto Star writer and columnist.

Danny Stoffman: Business writer, movie critic, and co-author of the bestseller Boom, Bust and Echo.

William (Bill) Lawrence: Long-time CBC and CHCH Hamilton TV broadcaster/weatherman. Best known as the host (for 35 years!) of Tiny Talent Time.

Gordon Jaremko: Long time energy journalist, Southam News.

George Gamester: Irrepressible Toronto Star "people" columnist.

Stephen Douglas: Photographer, reporter, journalism teacher; Douglas passed away under murky circumstances in Sierra Leone last December, during a time of violent unrest. He was only 60.

Here is Douglas's last tweet:

Artillery fire, gunshots can be heard in my neighbourhood... several times my windows have shook. Gov't says everyone should stay indoors and things are under control.

https://x.com/redpageletters/status/1728672054138790349

Cheers to all these heroes!

You can watch the "In Memoriam" video tribute here.

Or view the CJF's tribute to tech journalist Kara Swisher here.

Ten questions to build sales now

2024-06-20T16:17:00.012-04:00

Every business starts as a hypothesis: "We think this market needs this product/service/innovation/angle."

Through research and experience, you develop a strategy.

If your business has drifted away from its roots, or you're struggling with strategy, here are 10 questions to help you build your go-to-market plan. Each step will help you figure out how to build the capacity to survive in -- and eventually dominate -- your chosen market.

1. Who is winning in our marketplace, and why?

2. What are our customers’ most unmet wants and needs?

3. What are we really, really good at?

4. What is the intersection point of what we're good at, what’s working now, and what our customers need most?

5. What additional insights, skills and resources can we call on from within the organization to press our advantage?

6. What additional resources, capabilities and contacts can we draw on within our personal and business networks to seize market leadership?

7. Bearing in mind all these resources, how can we create maximum value for our clients and prospects in a new way that’s uniquely ours?

8. How can we test these assumptions in the marketplace this month?

9. Who will take charge of this initiative? What resources can they draw on?

10 What’s the best way to communicate our new positioning in one or two short, compelling sentences?

Key factors to help you win this battle: Know everything about your customers.

Collaborate.

Add value.

Unleash your imagination.

Move fast.

Let’s connect Orson Welles, Winston Churchill, Napoleon’s sister, D.W. Griffith, and Gilligan’s Island.

2024-04-12T18:49:00.008-04:00

As an entrepreneur, I value curiosity as a vital business trait. You never know where your curiosity will take you.

Case in point: this essay. Which has nothing to with business, but everything to do with being human.

Three degrees of separation:

The world is smaller than you think. Let’s connect Orson Welles, Winston Churchill, Napoleon’s sister, D.W. Griffith, and Gilligan’s Island.

In preparation for my upcoming month in Paris, yesterday I started reading John Julius Norwich’s book: France: A History: from Gaul to de Gaulle. I didn't get very far.

I got stopped in the Preface, where the author, John Julius Norwich, talks about his various stints living in France – including while his father was Britain’s ambassador to France from 1944 to 1948. He describes life at the embassy (a palace formerly owned by Napoleon’s sister Pauline) as a glamorous salon frequented by the cultured and powerful. “The queen of it was the poetess – and my father’s mistress – Louise de Vilmorin, who would stay in the embassy sometimes for weeks at a time.”

Wow.

No less startling was the next sentence. (Remember, I’m still on page 2.) “My mother, who had no conception of jealousy, loved her almost as much as my father did.”

Intriguing as French history may be, I immediately put down the book and picked up my phone to google these stunningly avant-garde artist/aristocrats. I swear, someday Netflix will make a movie about all this.

Let’s start with the poet. “Louise de Vilmorin was a novelist and poet and the most extraordinary of women. Married to a Hungarian count, her lovers included Antoine de Saint-Exupery, Orson Welles and Andre Malraux. But it was Duff Cooper, British Ambassador to France, during the 1940s, who was the love of her life.”

“Born 4 April 1902 in the family château at Verrières-le-Buisson, she was heir to a great French seed company fortune. She was afflicted with a slight limp that became a personal trademark.”

“Louise had four brothers: Henry (1903–1961), Olivier (1904–1962), André (1907–1987), and Roger (1905–1980), who was fathered by King Alfonso XIII of Spain.”

So, five minutes in, and we've already met Saint-Exupery (author of the beloved classic, The Little Prince), Orson Welles (wunderkind director of Citizen Kane), and a king of Spain.

More on Louise’s love life: “As a young woman, in 1923, she had been engaged to novelist and aviator Antoine de Saint-Exupéry; however, the engagement was called off, even though Saint-Exupéry gave up flying for a while after her family protested such a risky occupation. Vilmorin's first husband was an American real-estate heir, Henry Leigh Hunt (1886–1972), the only son of Leigh S. J. Hunt, a businessman who once owned much of Las Vegas, Nevada. They married in 1925, moved to Las Vegas, and divorced in the 1930s.”

“Louise spent the last years of her life as the companion of the French Cultural Affairs Minister and author André Malraux, calling herself ‘Marilyn Malraux’.” (Pretty good pun, even for a famous poet.)

But getting to know Louise meant I now needed to know more about her ambassador paramour. Who was Duff Cooper, I wondered, and why was his last name different from that of his son? So back to Google we went.

Alfred Duff Cooper was a rogue and a statesman, incredibly bright, a deft writer and historian, and a disappointment to all. Wikipedia: “He was the only son of society doctor Sir Alfred Cooper (1843–1908), a surgeon who specialised in the sexual problems of the upper classes (his carriage was humorously known as “Cooper's Clap Trap”) and Lady Agnes Duff, daughter of James Duff, 5th Earl Fife and descendant of King William IV.”

Whoa. Victorian shenanigans – and another king.

At Oxford, “Cooper cultivated a reputation for eloquence and fast living and, although he had established a reputation as a poet, he earned an even stronger reputation for gambling, womanising and drinking.”

Cooper joined the foreign office (on his third try, Wikipedia snarks). But with WWI chewing up the bodies of young Englishmen, he joined the Grenadier Guards as a junior officer in 1917. “Cooper spent six months on the Western Front, during which, biographer Philip Ziegler writes, he proved himself ‘exceptionally courageous, resourceful, and a natural leader of men.’ He suffered a minor wound in the advance to the Albert Canal in August 1918, and was awarded the Distinguished Service Order for conspicuous gallantry, a rare decoration for a junior officer.”

His career off to a strong start, in 1919 Cooper marries journalist/actress/socialite Lady Diana Manners. (He met her at Oxford, and once wrote, “I hope everyone you like better than me will die very soon.”) Diana had appeared in the 1918 film, Hearts of the World, by legendary director D.W. Griffith, who called her “the most beloved woman in England.”

Diana’s family initially opposed the match. (They had hoped Diana would marry the Prince of Wales.) Diana’s mother “thought Cooper a promiscuous drinker and gambler, without title, position or wealth.” Still, Diana couldn't be too off-put by liaisons dangereuses: while officially the daughter of the 8th Duke of Rutland, “she was widely believed—by herself included—to be the natural daughter of Harry Cust, a Belvoir Castle neighbour.”

Yes, the Victorians were pretty wild. (Cust is also reported to have slept with Margaret Thatcher’s grandmother.)

As the years went by, “Lady Diana tolerated Cooper's numerous affairs.” And there were many: Franco-American Singer sewing-machine heiress Daisy Fellowes, socialite Gloria Guinness, French novelist Louise Leveque de Vilmorin, and writer Susan Mary Alsop (then an American diplomat's wife, by whom he had an illegitimate son). The polo player 'Boy' Capel's wife Diana and fashion model Maxime de la Falaise were two more, although Lady Diana reportedly did not mind, explaining to her son: “They were the flowers, but I was the tree.”

With Diana’s money, Cooper entered politics, becoming friends and cabinet colleagues with the likes of Neville Chamberlain and Winston Churchill. In 1935, the scandalous scoundrel was named Secretary of State for War, and then First Lord of the Admiralty, where “he enjoyed high living on board the Admiralty yacht HMS Enchantress.”

Then Cooper went to Germany and witnessed a Nazi party rally. Realizing that Hitler was serious about conquering the civilized world, he resigned from the Cabinet to protest Chamberlain’s policies of appeasement (ie, “Let Germany re-arm, the English Channel will protect us”). Fellow Conservative MP Vyvyan Adams described Cooper's actions as “the first step in the road back to national sanity.”

Out of government, Cooper embarked on a lecture tour of the U.S., where he urged the democracies to stand firm against the dictatorships. German propaganda ranked Cooper with Churchill and Eden as Britain's most dangerous warmongers, and after war broke out Cooper sent his son – then John Julius Cooper – to study at Upper Canada College in Toronto.

(Cooper was widely criticized for the move, but let’s cut him some slack. Hitler’s enemies list was a real thing, and Cooper, who became Minister of Information in 1940, topped the charts.)

While in North America, young John Julius (named because he was born of a caesarian section, get it?) summered with the family of William S. Paley, the founder of CBS – an old-school robber baron (and another long-time womanizer) who redeems himself by championing a prime-time news show called 60 Minutes. (Paley’s also the guy who saved Gunsmoke from cancellation in 1967, resulting instead in the premature cancelling of Gilligan’s Island.)

In December 1943, with the Allies planning an invasion of France, Cooper became the British representative to the Free French – which meant he had to placate both Churchill and de Gaulle, two of the world’s most unmanageable people. A month after Paris was liberated in August 1944, he was named Britain’s ambassador to France.

Wikipedia just can't help pointing out: “He was to prove a very popular ambassador, with Lady Diana helping to make his term of office a great social success. Some contemporary eyebrows were raised at his willingness to entertain people with dubious records during the recent war, or his lack of interest at entertaining trade unionists.”

After retiring as ambassador, Cooper remained in Paris and wrote books, including one novel, about the Allies’ deception campaign around the invasion of Sicily – which the U.K. Cabinet tried (and failed) to block.

In 1952 Cooper was named to the House of Lords as Viscount Norwich, a name his son later adopted. Cooper's long-suffering spouse refused to be called Lady Norwich, claiming it sounded too much like “porridge.” She took out an ad saying she would stick with “Lady Diana Cooper.”

After Cooper’s death Philip Ziegler wrote that Cooper was “not totally successful in worldly terms, but never dull,” although he could be “arrogant, self-indulgent and selfish, and devoted far too much time and energy to wine, women and gambling.” Quite the epitaph!

But credit him this. In 2021, Cooper was posthumously awarded the Order of the White Lion, the Czech Republic’s highest decoration, for his opposition to the Munich Agreement in which Hitler carved up Czechoslovakia like a prize lamb.

John Julius never matched his father, in either infamy or high office. He called himself someone "whom his mother adored, and his father barely tolerated." But like his dad, he too attended Oxford and then joined the Foreign Service. He served in Yugoslavia and Lebanon and as a member of the British delegation to the Disarmament Conference in Geneva. When his father died at sea (of course!) in 1954, JJ inherited the “Viscount Norwich” title, and took his father’s seat in the House of Lords (until the rules were changed in 1999 to reduce the role of arbitrary aristocrats in running England’s, um, affairs).

JJ wrote books on history and the arts, and served as chair of the Venice in Peril Fund, which helped save the Italian city from the rising waters of the Adriatic Sea. He also made documentaries for BBC Television, and hosted a quiz show for BBC Radio. One of his favourite sayings was, “When in doubt, say yes.”

JJ married twice and fathered two children, Artemis and Jason.

Oops. Make that three children. Turns out Norwich was also the father of Allegra Huston, born in 1964 of his five-year affair with American ballet dancer Enrica Soma. At the time, she was estranged from her husband: actor/director John Huston. (Winner of two Academy Awards, he directed The Treasure of the Sierra Madre, The African Queen, The Misfits, The Man Who Would Be King, Prizzi’s Honor, and Annie, a musical about orphans.)

By coincidence, Huston began his career playing the title character in a 1930 film called Abraham Lincoln – the second-last movie directed by D.W. Griffith.

Forty years later, Huston starred in The Other Side of the Wind, as an aging film director trying to stay relevant. The film was written and directed by Orson Welles.

Production began in 1970, and was finally finished (by Netflix!) in 2018.

Allegra is a writer (naturally) and has written a book on how she learned, at 12, the truth about her father. She described the day she met John Julius: “His manners were elegant and easy, as if he met his secret children every day of his life.” But over the longer term, as a reporter noted, “John Huston was sufficiently egocentric for the reappearance of his daughter’s biological father to make no difference.”

“He completely ignored it,” said Allegra, “which was fine by me."

She explains the situation in her book, Love Child, by saying, “John Julius could be accurately referred to as my father, but I had only one dad.”

But Allegra's book compelled one Huffpost reviewer to begin her article with the sentence, "Thank God I'm not a Huston." The reviewer recounts how Allegra often spent weekends with her half-sister Anjelica Huston at Jack Nicholson's house, where Roman Polanski had sex with an underage girl, an event that led to his exile. At 13, she lived with Anjelica and Ryan O'Neal, who comes off as a terrorizing brute. "Even the 13-year-old had the sense to tell her sister, 'You don't have to stay with someone who treats you like that.'"

Does generational dysfunction ever end? “The sources of bad luck reside in the unconscious,” opined John Huston. “We inflict it upon ourselves as kind of a self-punishment.”

Allegra seems to summarize a century of recklessness and high achievement when she writes: “Love Child is the story of a childhood fractured by tragedy, of a motherless girl who never quite feels she belongs. It is my search through the unreliable certainties of memory for the widely adored mother I never knew, and my quest to create a single family out of these odd-shaped pieces, a family which finally comes together at the christening of my son in the Rio Grande.”

John Julius Norwich passed away in 2018, just after finishing his last book, France: A History: from Gaul to de Gaulle.

He dedicated it to his mother.

And I am still only on page 2.

Robot writes blogpost, does a pretty good job

2024-02-14T23:55:00.001-05:00

So today I asked ChatGPT: "How will generative AI help entrepreneurs manage their businesses? Please go into detail with examples, and provide sources for your examples."

Its answers look pretty useful. How could some of these ideas impact your business?

ChatGPT reported back:

Generative AI can provide entrepreneurs with valuable tools and capabilities to enhance various aspects of business management. Here are several ways in which generative AI can be beneficial for entrepreneurs, along with examples:

Data Analysis and Decision Support:

Example: Generative AI algorithms can analyze large datasets to identify patterns and trends, providing entrepreneurs with insights to make data-driven decisions. For instance, machine learning algorithms can analyze customer behavior data to predict future trends, helping entrepreneurs tailor their strategies.

Personalized Marketing Campaigns:

Example: AI-powered tools can generate personalized content and recommendations for marketing campaigns. For instance, ChatGPT, a generative AI model, can be used to create personalized email content, social media posts, or product recommendations based on customer preferences.

Chatbots for Customer Support:

Example: Generative AI-driven chatbots, like those built on models such as GPT-3, can handle customer inquiries, provide information, and even assist in the sales process. These chatbots can improve customer service efficiency by handling routine queries, leaving entrepreneurs and their teams with more time for complex tasks.

Automated Business Processes:

Example: Robotic Process Automation (RPA) powered by generative AI can automate repetitive tasks such as data entry, invoicing, and inventory management. This automation streamlines operations, reduces errors, and increases overall efficiency.

Market Research and Competitive Analysis:

Example: Generative AI tools can analyze market trends, customer reviews, and competitor data to provide entrepreneurs with comprehensive market research. This information can inform product development, marketing strategies, and positioning in the market.

Natural Language Processing (NLP) for Communication:

Example: NLP capabilities in AI can improve communication with customers and employees. For instance, AI-driven virtual assistants can handle inquiries, schedule appointments, and provide information, freeing up entrepreneurs' time for strategic tasks.

Predictive Analytics for Financial Management:

Example: Generative AI models can predict future financial trends based on historical data, helping entrepreneurs make informed decisions about budgeting, cash flow management, and investment strategies.

Supply Chain Optimization:

Example: AI can optimize supply chain management by predicting demand, identifying potential disruptions, and recommending inventory levels. This helps entrepreneurs streamline their supply chain processes and reduce costs.

Human Resources and Talent Acquisition:

Example: AI-powered tools can assist in the recruitment process by analyzing resumes, conducting initial screenings, and even predicting candidate success based on historical hiring data. This accelerates the hiring process and improves the quality of talent acquisition.

Content Generation for Marketing:

Example: AI models like GPT-3 can be utilized to generate creative and engaging marketing content, including blog posts, social media updates, and advertising copy. This can save entrepreneurs time and resources in content creation.

It's important to note that while generative AI offers these benefits, ethical considerations, data privacy, and responsible use are crucial aspects that entrepreneurs should prioritize. Additionally, staying informed about the latest developments in AI and understanding how to integrate these technologies effectively into business operations is essential.

Sources:

Brown, T. B., Mann, B., Ryder, N., Subbiah, M., Kaplan, J., Dhariwal, P., ... & Agarwal, S. (2020). Language models are few-shot learners. arXiv preprint arXiv:2005.14165.

GPT-3: https://www.openai.com/gpt-3/

RPA in Business: https://www.uipath.com/rpa/robotic-process-automation

AI in Marketing: https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/ai-in-marketing-the-time-to-act-is-now

How startups drive job growth and productivity

2024-01-28T01:57:00.004-05:00

Interesting new story on the importance of entrepreneurs and startups in the Harvard Business Review.

Authors Kenan Fikri and Daniel Newman, researchers at the Economic Innovation Group, start by noting the strength and resilience of entrepreneurs: “While some data sources on entrepreneurship operate on a lag, so far it appears that the entrepreneurship surge is real and likely to lead to greater job creation and productivity in the U.S. over the long run.”

Startup entrepreneurs don't get much love nowadays, but as the authors note, startups are important because they drive both employment gains and productivity growth. The news is good: in October 2023, three and a half years after the pandemic began, Americans were filing 59% more applications to start new businesses than they were before the pandemic. And that, as the authors note, occurred despite “recession fears, labor and supply-chain constraints, the highest inflation rates in a generation, and rapid interest rate hikes.”

The problem: the 2010s was a good decade for a few tech giants, but not for startups. “Every year in the decade running up to the pandemic, the U.S. economy was missing around 100,000 new firms and the approximately half million new jobs that would have been associated with them each year — a partial but significant explanation for the grindingly slow pace of recovery from the Great Recession.”

The authors discuss lots of economic reasons for the current startup surge (including higher household incomes during COVID, lockdown-related innovation, and the willingness of many working Americans to make a job change during such a trying period). But I think they missed an important reason.

The more society changes, the more entrepreneurs come to the fore, meeting new needs and serving new markets. Advancing technologies in multiple fields certainly create new opportunities, from AI-fuelled production houses to singer-songwriters on TikTok. But as lifestyles evolve and change – with a big push from Covid’s impact – entrepreneurs at the forefront of personal, cultural, financial and lifestyle changes are emboldened to start new businesses and serve these new markets. And new technology is continually simplifying and empowering that process.

In other words, a confident, pluralistic society advancing on all fronts is a startup-generating machine.

The authors offer a few prescriptions on how governments can promote new business growth. Don't mess with success, they say: “Don’t make it harder to start a business than it already is.” They also support proposals for helping people save more for retirement (“de-risking entrepreneurship in the process”), and curtailing the use of non-compete contracts that block aspiring entrepreneurs from starting businesses that compete with their current employers.

For non-Americans, the problem is that the surge the authors identified can't be found in most other countries (see chart). They assess Canada’s post-covid startup gains at 10% -- less than a third of the U.S.’s 34%. And way behind Belgium (up 25%), France (23%) and even the U.K. (16%).

The federal government hasn’t done much for Canadian entrepreneurs in decades. Perhaps it’s time for them to revisit the best job-creating machine we have. Reforming HST (which turned micro-businesses into involuntary tax collectors) would be a good place to start.

'Tis the season to be present

2023-12-08T12:07:00.002-05:00

A blast from the past. "Presence" is about putting your best self forward at every opportunity. The ebook of Amy Cuddy's book "Presence" is currently on sale for just $1.99 at Amazon.com or Amazon.ca.

My 2015 interview with Amy Cuddy, from the Financial Post:

How adopting Wonder Woman's power pose might change the outcome of a meeting, or even your destiny

Harvard professor Amy Cuddy’s message is simple: 'Our bodies change our minds. Our minds change our behaviour. And our behaviour changes our outcomes'

Rick Spence

You’re sitting in a waiting room, about to meet somebody important. It might be a job interview, or an important sales call. You know you should have prepared more, and you’re worried. But, you figure, sitting low in your chair, hunched over, arms folded across your chest, maybe they won’t notice.

If you go into a crucial meeting slumping like a student who didn’t do his homework, you’ve set yourself up for a fall. But if you change your body language, you may change the outcome, even your destiny.

That’s the promise of Presence: Bringing Your Boldest Self to Your Biggest Challenges, a recent book, and theory, from Amy Cuddy, a social psychologist at Harvard Business School who suddenly found herself a body-language guru. You may be one of the 38 million people who watched Cuddy’s 2012 TED Talk, in which she gains strength and stature simply by standing tall, hands on hips, like Wonder Woman. Cuddy’s message is refreshingly simple: “Our bodies change our minds. Our minds change our behaviour. And our behaviour changes our outcomes.”

After her recent speech at the University of Toronto’s Rotman School of Management, I got to ask Cuddy about what her research means to entrepreneurs. The answer: everything.

Entrepreneurs tend to be defined more by their passions and ideas than by the resources they control. Most of the meetings they go to tend to be with people who have more money, stature or power than they, as well as something they want. Using Cuddy’s notions of “presence,” entrepreneurs can level the playing field by boosting their confidence level, thereby encouraging others to think more highly of their capability and clout.

Cuddy urges everyone to maximize their presence by consciously recalling their best, most charismatic self. “Most people have in their minds an idea of who they are at their best,” she says. “It’s usually a combination of feeling powerful and generous. But often, they don’t know how to get back to that self when they need it. And as they get fearful, they get further away from their best self.”

Cuddy’s solution: “As you develop presence, you get closer and closer to being who you are, and you’re not afraid that a rejection is going to knock you down forever.”

For Cuddy, “presence” is more than the mindfulness, or self-awareness, people strive to find today. It’s feeling present and powerful. As she writes in her book, “Presence is the state of being attuned to and able to comfortably express our true thoughts, feelings, value and potential.”

Cuddy has researched body-language literature and conducted experiments to discover that good posture — whether you simply sit up straighter, or adopt Wonder Woman’s power pose — changes the chemical balance in your body. Leaning back, stretching out your arms and legs, extending your body so you take up more space, all reduce your level of cortisol, the “stress hormone” that puts you on edge and prepares you for “fight or flight.” At the same time, Cuddy says, posing raises your level of testosterone, the “assertiveness hormone” that develops strength and is associated with dominance behaviours.

So, raise your arms to the sky, like a victorious sprinter or Sidney Crosby scoring the golden goal in the Vancouver Olympics. If you can’t dance around your prospect’s office to release your best self, sit up and take slow, thoughtful breaths (in yoga, they’re called “victory breaths”). Sing, even to yourself. Puff out your chest. Uncross your legs. Stop touching your neck, hiding your face, or otherwise trying to look small. Lean back. Adopt the poses and postures of powerful people.

Cuddy began studying presence after encountering research results from videos of entrepreneurs pitching for venture capital. The evidence indicated that the winners from among 185 presenters were the entrepreneurs with the most authentic levels of confidence and enthusiasm — not the ones with the best pitch or value proposition.

But as Cuddy has since learned, being “present” also helps you hear your own voice and rediscover your purpose.

Although her book hit No. 3 on the New York Times best-seller list, and her “presence” exercises are being adopted by companies, sales departments and sports teams, Cuddy says she doesn’t want her work to become a business. Having just stepped off the tenure track at Harvard Business School, her interest now is in starting a research centre, and working not with CEOs and entrepreneurs, but more marginalized communities (such as abused women, homeless people, prison inmates) who have even greater need to retrieve their past, best selves.

“I don’t want this to be part of an app,” Cuddy says. “It’s a process, not a product.”

Rick Spence is a writer, consultant and speaker specializing in entrepreneurship.

When Friends Fall Out

2023-09-14T12:37:00.007-04:00

I talked to an entrepreneur the other day who was very excited about but his business, but disappointed in his friends.

It seems that the more successful this entrepreneur became in his business, the more some friends shrank back. They didn't share the excitement of his success... In fact, some seemed to resent it.

This type of behavior concerns me, on multiple levels. Entrepreneurs run on adrenaline and confidence. They need positive energy, from within and without, to keep going. When friends don't align their energies with yours, you slow down. It's like running on broken ground.

There's no one cause for this lack of support. Some friends may begrudge the time and attention you're lavishing on your business. They may feel left behind. Others may feel jealous of your success. Some might even feel they could have had the same success, maybe more, if they had only stepped up to the plate as you did. Human emotions are complicated.

As entrepreneurs, we have to stay focused and reduce the negative energies around us. But that doesn't mean cutting off friends who are less than supportive. Here are two things you might try:

* Reach out to any friends who seem to have become more distant lately. Find time to spend with them. Don't talk about business. Make sure you're talking about their lives, their successes, their challenges. Really listen. Show that nothing has changed, you're still you, and this personal relationship really matters to you.

* If someone is being overtly negative, call them out. Let them know you value their friendship, and how important it is for an entrepreneur to feel supported by their social group. Doubts, resentment, negative energy are all lethal to entrepreneurial gusto, so let these friends know you really appreciate their positive support.

Lots of so-called experts will advise you to cut negative people out of your life. I'm not an expert, so I won't tell you that. But do talk to them. Let them know you care. Let them know how important it is for you to have the support and confidence of your friends.

Business will eat up as much of your time as you let it. Make sure to consistently make time for yourself and your friends. The break will do you good, and the positive vibes will strengthen you.

Entrepreneur or not, be the best friend you can be.

The 25 Strengths of Great Entrepreneurs

2023-08-28T14:25:00.005-04:00

I sat down to ask myself, "What makes a great entrepreneur?"

What skills, attitudes, learnings and outright gifts can most help people to build good products and successful companies?

Here's a list of 25 essential skills and traits I came up with. Only the top 10 are in any sort of priority order.

Which of these do you think are most important? Which other skills/attitudes would you add?

And which of these strengths should you be actively working on?

Vision and creativity, to see things that aren't there, but could be.
Communication skills
Leadership
Stamina
Confidence
Optimistic
Ability to plan
Project-management abilities (all businesses start as a project)
Financial literacy
Resourceful; scrappy
Budgeting skills
Influence and persuasion
Sales and marketing skills
Trustworthy
Empathy
Ability to focus
Ability to delegate
Ability to make good decisions
Hard work ethic; hustle
Able to ask for help
Sociable
Able to assess other people, see their potential
Open mind + ability to be decisive
Ability to manage income uncertainty
Resilience

Feel free to add other skills and traits in the comments.

A very imperfect phone call

2023-08-19T23:21:00.003-04:00

What you can learn about communication from listening to Trump’s 2001 call with Georgia election officials

I just listened again to Trump’s Jan. 3, 2001 phone call with the Georgia Secretary of State to discuss voting irregularities in November 2000’s presidential election – won by Joe Biden.

This hour-long call, recorded by the Georgia side, preserves live evidence of Trump’s lies about the election, his disregard for protocol, his arrogance, and his willingness to bully and threaten any honest administrators who stand in his way.

And now we know the call will likely end up being key evidence in Trump’s upcoming criminal trial in Georgia for his efforts to overturn the election results.

But the call is also a faithful record of a neurotic fraudster hard at work, used to getting his own way.

As a professional communicator, here are my observations about Trump’s historic call.

· When trying to influence other people’s behaviour, you should listen hard to what they say, and work diligently to earn their trust. Trump, by contrast, probably spoke for 50 minutes of the 60-minute call, offering examples after examples (all unproven and unsupported by any evidence) of Democratic cheating and ballot-box stuffing. His Big Lie: “Everyone knows I won the state by hundreds of thousands of votes.”

When Georgia Secretary of State Brad Raffensperger tried to get a word in edgewise, Trump would simply interrupt, pointing (without details) to all the official sources and YouTube videos that supposedly prove his charges. He never bothered to listen. He never asked Raffensperger to explain what steps Georgia had taken to assure the legality of the election. He had become too used to dictating outcomes.

· A phone call with Trump can be very intimidating. With his booming voice and confident air, he’s a hard man to argue with. He runs roughshod over your assertions the same way he owns the media, by ignoring your arguments and pressing his own talking points again and again. His sources are always “Everybody says,” “very smart people say,” “everybody knows this,” and “you know this is true.”

“It’s very simple,” Trump kept repeating. “We won the election.”

· “Now you know it.” To support his case. Trump told a number of horror stories, about cheating by Dominion voting machines, Democratic vote dumps, ballot-fixing by one election worker, and even a dump of military and overseas votes that Trump argued should have all gone to him. “Maybe you didn’t know that,” he said, “but now you know it.” This suggests that Trump still believes, despite his reputation as a serial liar, that when he states something, that’s equivalent to it being an unqualified fact – or at least should be perceived that way. His self-confidence is admirable, but his ability to delude himself is somewhat less so.

· Of course, what works in a press scrum or at a Trump rally isn't as effective when dealing with sophisticated, articulate professionals. Trump kept punching, but he wasn’t smart enough to land a single blow. Georgia election officials had already re-counted the ballots and reviewed supposed irregularities, and they stood by their statement that Biden won the state fairly. Finding himself facing ethical people who knew their stuff, Trump had no idea what to do except… up the ante.

· Trump aimed threat after threat at the Georgia officials. “You're approving an illegal election… Georgians know it … the people of Georgia are so angry…. They will hate you.” He also suggested that they should change the result soon, to avoid angering state Republicans who would be voting in two senate runoff votes a few days later. (Both seats were won narrowly by Democratic candidates, crucially shifting the balance of power to the Dems).” The final threat: that both Raffensperger and his lawyer, who was also on the call as a voice of reason, could face legal jeopardy for supporting an illegitimate election outcome. Defending Biden’s victory, he warned darkly, “could be very costly in many ways.”

Had Trump tried to reason with the Georgia team rather than threaten them, how might history have changed? The Senate elections a few days later might have gone different ways: the Democrats won one election by just 1% of the vote and the other election by just 2%.

· The Georgia team remained calm and steadfast. “Mr. President, you have people that submit information, and we have our people that submit information, and then it comes before a court. And the court then has to make a determination. We have to stand by our numbers, we believe our numbers are right.”

Trump’s rebuttal: “Your numbers aren’t right, they’re really wrong. And they’re really wrong, Brad… Ultimately, I win, because you guys are so wrong, and you have treated the population of Georgia so badly.” Then he went on to complain about what a mistake it had been to endorse Georgia’s governor in the last election… proof that if you let a blowhard talk long enough, he will usually just lose his focus and his way.

· Of course, Trump also played the party card. Knowing he was dealing with Republicans, he added, “Why don't you want to find this? What’s wrong with you?” It’s a clear insight into Trump’s belief that loyalty to party should rank above one’s obligation to the public or democracy. (Unless, of course, he’s the one being disloyal to the party.)

· When Trump saw his bullying wasn’t working, he resorted to bargaining. “Brad, what are we going to do? We won the election, and it’s not fair to take it away from us like this.”

How his lawyers must have squirmed when Trump pleaded, “I just want to find 11,780 votes” (the difference between his vote count and Biden’s).

· At the end, the lawyers on the call agreed to meet again the next day to review the evidence on both sides. But it was clear Georgia’s officials weren't going to budge. Trump tried to play the statesman by saying, “Brad, we just want the truth. It’s simple.” But then Trump revealed that only he gets to define what is the truth. “The truth is that I won by 400,000 votes.”

****

I’ve always maintained that Trump’s narcissism, ego and lack of self-awareness make him the opposite of a successful entrepreneur. Great leaders tell the truth, listen to others, prize reputation over ambition, and guard their integrity. With none of those virtues, Trump will go down in history as a historic loser.

PS: Kudos to Georgia Secretary of State Brad Raffensperger, who defied Trump, party interests and the MAGA mob to defend the truth. Just the other day he tweeted: "The most basic principles of a strong democracy are accountability and respect for the Constitution and rule of law. You either have it, or you don’t.”

(I just learned that Raffensperger graduated from engineering at the University of Western Ontario. Go Mustangs!)

Top 10 ways to hire and retain top talent

2023-07-06T11:53:00.000-04:00

Busy times here at Canadian Entrepreneur, so here's another blogpost written by my AI friend, ChatGPT. Don't forget to use it yourself when pondering new strategies, evaluating new markets, or wrestling with any problem.

Today's question: Based on university level research, what are the best strategies businesses can use to hire and retain top talent?

Hiring and retaining top talent is crucial for businesses to maintain a competitive edge. Based on university-level research and industry best practices, here are some strategies that businesses can employ:

1. Employer Branding: Develop a strong employer brand that showcases the company's mission, values, and unique attributes. Highlight employee success stories, career growth opportunities, and a positive work culture. A compelling employer brand helps attract top talent who align with the organization's values.
2. Targeted Recruitment: Implement a targeted recruitment strategy to identify and engage with high-potential candidates. Utilize multiple channels such as online job boards, social media platforms, professional networks, and industry events to reach a diverse pool of candidates. Leverage data analytics and applicant tracking systems to streamline the recruitment process.
3. Competency-Based Assessments: Utilize competency-based assessments during the hiring process to identify candidates with the skills, knowledge, and attitudes necessary for success in the role. These assessments can include interviews, work samples, case studies, and psychometric tests.
4. Competitive Compensation: Offer competitive compensation packages that align with industry standards and reflect the value the organization places on its employees. Consider additional incentives such as performance bonuses, profit-sharing, stock options, and comprehensive benefits packages to attract and retain top talent.
5. Professional-Development Opportunities: Emphasize professional development and growth opportunities to showcase the organization's commitment to employee advancement. Offer training programs, mentorship initiatives, conferences, workshops, and tuition reimbursement to foster continuous learning and skill enhancement.
6, Flexible Work Arrangements: Recognize the importance of work-life balance by offering flexible work arrangements such as remote work options, flexible hours, or compressed workweeks. Such flexibility can help attract and retain talent, particularly those seeking a better work-life integration.
7. Employee Recognition and Rewards: Implement a comprehensive employee recognition and rewards program to acknowledge and appreciate top performers. This can include regular feedback, public recognition, performance-based bonuses, promotions, and opportunities for challenging assignments or leadership roles.
8. Strong Leadership and Communication: Develop strong leadership capabilities within the organization to create a positive work environment and foster effective communication. Encourage open and transparent communication channels, solicit feedback from employees, and provide regular updates on company strategy and goals.
9. Employee Engagement Initiatives: Implement initiatives that promote employee engagement and foster a sense of belonging within the organization. This can include team-building activities, employee resource groups, social events, wellness programs, and community-involvement opportunities.
10. Continuous Feedback and Performance Management: Establish a robust performance management system that includes regular feedback and performance evaluations. Provide constructive feedback, set clear goals, and offer opportunities for career growth. Regular check-ins help employees stay motivated, aligned with organizational objectives, and identify areas for improvement.

It's important to note that every organization is unique, and these strategies should be tailored to align with the company's culture, values, and specific talent requirements. Regularly evaluating and adapting these strategies based on feedback and market trends will help businesses stay competitive in attracting and retaining top talent.

Thanks, ChatGPT. Ask it your questions here!

How can cities encourage entrepreneurship and innovation?

2023-05-10T11:55:00.007-04:00

As big companies shrink their workforces, cities have to work harder to support and promote economic growth and good jobs. Luring companies away from other cities is a zero-sum game. That's why cities have to get serious about leveraging the talent and imagination of all their own residents. Entrepreneurs develop new business ideas, create jobs, help each other, and inspire creative and economic resurgence.

There are many ways to encourage entrepreneurship and innovation. Here's ChatGPT's menu of 10 ways your city can foster a thriving entrepreneurial ecosystem:

1. Establish Supportive Infrastructure: Cities can invest in creating a robust infrastructure to support entrepreneurs and innovators. This includes providing access to affordable office spaces, co-working spaces, research and development facilities, and technology incubators/accelerators. These spaces can facilitate collaboration, idea exchange, and access to necessary resources.

2. Foster Collaboration and Networking: Encourage networking events, workshops, and conferences that bring together entrepreneurs, investors, mentors, and industry experts. Creating platforms for collaboration enables entrepreneurs to share knowledge, form partnerships, and seek guidance from experienced individuals.

3. Provide Financial Support: Establish funds and programs to provide financial support to entrepreneurs. This can include grants, loans, and tax incentives for startups, especially in sectors aligned with the city's economic development goals. Facilitating access to capital helps entrepreneurs overcome financial barriers and pursue their ventures.

4. Develop Entrepreneurial Education: Collaborate with educational institutions to develop entrepreneurial education programs and courses. These initiatives can equip aspiring entrepreneurs with essential skills and knowledge, covering areas such as business planning, marketing, finance, and technology. Workshops and mentorship programs can also help entrepreneurs build their capabilities.

5. Streamline Regulatory Processes: Simplify bureaucratic procedures and regulations related to starting and operating a business. Reducing barriers and complexities in licensing, permits, and registration processes can encourage more entrepreneurs to establish ventures. Establishing a dedicated agency or office to support entrepreneurs and guide them through the regulatory landscape can be beneficial.

6. Promote Public-Private Partnerships: Foster collaborations between the public and private sectors to drive entrepreneurship and innovation. Engage with local businesses, corporations, and investors to provide mentorship, funding, and market access to entrepreneurs. Public-private partnerships can leverage each other's strengths and resources to create a conducive environment for startups.

7. Encourage Diversity and Inclusion: Promote diversity and inclusion in entrepreneurship by supporting underrepresented groups, including women, minorities, and individuals from disadvantaged backgrounds. Create programs that provide training, mentorship, and funding specifically targeted at these groups. Encouraging a diverse entrepreneurial ecosystem leads to a broader range of perspectives, ideas, and innovations.

8. Support Research and Development: Collaborate with universities, research institutions, and industries to foster innovation. Encourage the commercialization of research outcomes and provide support for technology transfer and intellectual property protection. Promote collaborations between academia and industry, facilitating knowledge exchange and the development of innovative solutions.

9. Market the City as an Entrepreneurial Hub: Implement marketing campaigns and branding initiatives to showcase the city as a vibrant entrepreneurial hub. Highlight success stories, local startups, and the overall ecosystem to attract talent, investors, and resources from outside the city. Developing a positive image of the city's entrepreneurial ecosystem can create a magnet effect for innovation-driven individuals and organizations.

10. Embrace Digitalization: Embrace digital technologies and platforms to facilitate entrepreneurship and innovation. Support the development of digital infrastructure, high-speed internet access, and platforms for online collaboration. Encourage the use of digital tools, such as e-commerce platforms and online marketing, to help entrepreneurs reach broader markets.

By implementing these strategies, cities can create an environment that nurtures entrepreneurship, encourages innovation, and attracts talent, ultimately driving economic growth and development.

Why not send this list to your local city council/mayor/economic development office. Ask how many of these things they are doing. Then ask how many of them they are doing well!