Did you know that reading, planning and wasting money are three things that you may not have thought of when trying to grow your small business? When is the last time you picked up a book on business or even a biography of a successful business person? I am not talking about sitting down and reading a book cover-to-cover, but reading key chapters that could influence you on ways to improve your business. This could be a book that is new to you, or one that you want to re-visit and learn more from, or simply to get another perspective that you did not get the first time you read it. While my preference is reading a printed book over reading an e-book, the options of available online e-books can sometimes be more convenient.
Purchasing a physical book or an e-book can be great, but also consider visiting a public library for books that you need to read before considering purchasing a copy. You can borrow a copy of the book you are interested, but you might find other titles at the library that you didn’t know existed. Another bonus of visiting the library is that you do not need to borrow a book. You can sit down at the library and read sections of various books in one place. Reading at the library also gets you away from your office space and into a space where you are void of distractions, and can take in what the message of the book is. Don’t just do this once; plan to do it weekly or monthly.
Don’t over plan, but do some regular planning
Sometimes you find yourself thinking about a new strategy for weeks or months, but never get around to implementing it. That is called over planning – but you still need to plan. When you come up with that winning idea or strategy, try to follow through with your plan – and if it is not doable, walk away from it and formulate a new plan.
An example of over planning is the guy who now rents training/seminar rooms from Telsec. He spent 3 years planning his training program, only to abandon that idea. He then came up with a new plan, and within weeks he developed a new seminar strategy that was completely different. What changed? Well, he did not try to overthink or over plan the new concept.
When was the last time you wasted some money?
Wasting money is not always losing money. It could lead to a new idea or solution that you previous had not thought of. Call it your “fun fund” or you “experimental expense.” This fund could be used to try new marketing or advertising tools that may or may not work for your business model. Or it could be spent on new technology that could bring in a new revenue stream.
As the author of this blog, I have to confess to my most recent “fun fund” spend that I made. I made a purchase online for a drone quad-helicopter that will allow me to do aerial photography and videos (indoors and out). I purchased this particular drone for under $100 so that I could learn how to fly one – and to experiment with the ability to make money from it before buying a $1,500 drone. So you might say that it is actually a training and market research purchase.
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
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