I’m an armchair economist. I have little formal training in economics beyond the generalist survey courses most university students select before deciding what they want to major in when they grow up. Nevertheless, I find the machinations of any given economy fascinating. As a spectator sport, economics has the fine detail of baseball mixed with the speed and brutality of hockey, the long-game passion of European football and the regimentation of American football. Armchair economics is reality based fandom.
For entrepreneurs, armchair economics is both a form of fantasy sport and an important part of business planning. All entrepreneurs dream about the future. Developing an understanding of how the world works is an essential part of foreseeing the future and the ability to foresee the future is one of those things that separates an entrepreneur from everybody else. It would be no good to develop a business making green widgets if consumer tastes shift towards wanting purple widgets before declining demand phased widgets out altogether. It would be far better to reasonably believe that consumers will want yellow thingamajigs because the data (armchair economics) tells you so and develop a business around making them. Knowing the future lets you plan and execute realistic goals.
Business is about setting and achieving goals. The process includes a myriad of obstacles, regulations, competition, challenges, and the nerve wracking potential for great loss. Getting through the process requires rational thinking, critical analysis, attention to fine details, huge doses of diplomacy, and a strong sense of mission and accomplishment. A good accountant helps, just as a good coach helps in sport. Some businesses perform better than others, some competing in individual pursuits and others competing as a team.
Drawing sports analogies to describe business is natural. You win some and you lose some and if you win more than you lose you get to stay in business. It’s often a game of inches. Success might be measured by any number of metrics but all of them are rooted in the strong foundations of professional support systems, the most critical of which is a home-field to play on. Naturally, that’s one of the analogies we draw on when thinking about the business of a business centre. Sports analogies are easily understood by armchair economists.
We’re one of the older, veteran business centres in Toronto. Established nearly 40 years ago in 1980, Telsec Business Centres have provided professional support services to literally tens of thousands of businesses. Its founding presaged the far future by anticipating the effects technology would have on businesses, requiring them to become leaner and more flexible while allowing them a lot of leeway on costly items that used to be absolute necessities, like a permanent office or numerous staff.
Telsec’s objective is for businesses to be able to achieve their best productivity with a minimum of operating expenses. Letting our customers concentrate on running their businesses, Telsec provides extensive professional office services in conjuction with beautifully furnished individual executive office suites and meeting rooms.
Economically speaking, it’s a good business to be in, especially in a time of great change. One more thing our sense of armchair economics is telling us is that even though business conditions appear fairly good right now there is a great sense of volatility out there. Rather than taking on the traditional trappings of a business, entrepreneurs are more likely to let an organization like Telsec take care of the infrastructure stuff so they can do what they do best, score runs for themselves or their clients.
1. Jennifer Smith
General Manager
The Omni King Edward Hotel
37 King Street East
Toronto, ON
M5C 1E9
Tel: 416-863-9700
Website: www.omnihotels.com/hotels/toronto-king-edward
2. Mark Perry
General Manager
Executive Hotels and Resorts (Boutique)
8 Colborne Street
Toronto, ON
M5E 1E1
Tel: 416-350-2419
Website: www.spazen.ca or www.cosmotoronto.com
3. Emeline Boul
General Manager
Hotel Victoria (Boutique)
56 Yonge Street
Toronto, ON
M5E 1G5
Tel: 416-363-1666
Mobile: 647-574-5832
Website: www.hotelvictoriatoronto.com
4. Omkar Sawant
Reservations Manager
One King West Hotel
1 King Street West
Toronto, ON
M5H 1A1
Main: 416-548-8100
Reservations: 1-866-470-5464
Website: www.onekingwest.com
5. Van Nguyen
General Manager
Cambridge Suites Toronto
15 Richmond Street East
Toronto, ON
M5C 1N2
Direct: 416-601-3757
Hotel: 416-368-1990
Website: www.cambridgesuitestoronto.com
1. Michael Pagliaro
Carisma (Italian)
15 Toronto Street
Toronto, ON
M5C 2E3
Tel: 416-864-7373
Website: www.carismarestaurant.com
2. Patti Shaw
Terroni (Italian)
57 Adelaide Street East
Toronto, ON
M5C 1K6
Tel: 416-203-3093
Website: www.terroni.com
3. Declan
Restaurant 20 Victoria – Michelin guide approved
20 Victoria Street
Toronto, ON
M5C 2A1
Tel: 416-804-6066
Instagram for reservations: https://www.instagram.com/twentyvictoria/
4. Mana
Nami (Japanese)
55 Adelaide Street East
Toronto, ON
M5C 1K6
Tel: 416-362-7373
Website: www.namirestaurant.ca
5. Restaurant Lucie
100 Yonge Street
Toronto, ON
M5C 2W1
Tel: 416-788-9054
Website: www.restaurantlucie.com
6. Niam H
Cantina Mercatto
20 Wellington Street East
Toronto, ON
M5E 1C5
Tel: 416-304-0781
Website: www.cantinamercatto.ca
7. Siva Sathasivam
Uncle Tony’s
38 Wellington St E
Toronto, ON
M5E 1C7
Tel: 416-455-6650
Website: https://uncletonys.ca/
8. Pizzaiolo
104 Yonge Street
Toronto, ON
M5C 2Y6
Tel: 416-860-0700
Website: www.pizzaiolo.ca
9. Robin Singh
Woods Restaurant and Bar
45 Colborne Street
Toronto, ON
M5E 1E3
Tel: 416-214-9918
Website: www.woodsrestaurant.ca
1. Thom Tullo
Morpheus8 by Inmode
47 Colborne Street
Toronto, ON
M5E 1E3
Tel: 416-863-6564
Website: www.amanspa.ca
2. Altitude Athletic Training
56 Colborne Street
Toronto, ON
M5E 1E3
Tel: 416-366-3838
Website: www.altitudeathletictraining.com
3. Physioheath Studios
33 Victoria Street, #130
Toronto, ON
M5C 2A1
Tel: 416-368-2525
Website: www.physiohealth.com
We are by far the most experienced and best coworking team in the market – established in 1980
18 King Street East, Suite 1400
Toronto, Ontario M5C 1C4 Canada
Please check out our 70 second video on our home page or click here:
Take a look at our facilities www.telsec.net
Telsec will Customize Your Client’s Office(s) Layout to Meet Their Requirements.
You are welcome to drop-in any-time, a quick call would be appreciated to ensure our availability Vanessa 416-574-1112 or Josie 416-606-4349 or e-mail josie@telsec.net.