Business Insights

Why do you need both fools and experts on your creative problem solving team?
What are their strengths and roles that help you solve problems?

In this video George Torok explains the answers to those questions.





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The 10 Reasons Why you do not Sell the maximum amount as you may (or Should)
and What to try to to regarding It

George Torok is interviewed on People in Connection TV about his speaking tour in Iran.

He spoke about the Secrets of Power Marketing to business audiences in five cities.

Interview with business owner and business author, Wayne Vanwyck.

Wayne Vanwyck is the owner of three businesses – a training company, a call centre and a franchise business.

He is also the author of “The Business Transition Crisis”
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Insights from this interview with Wayne Vanwyck

71% of business owners in Canada plan to retire in the next 10 years

This book is for baby boomers who own businesses and are or should be thinking about leaving the business.

Why would a successful business owner sabatage his own retirement?

Took a six month sabatical to travel around North America and research the book.

Your buisness is a product. One day you might want to sell it for a profit.

There are five million businesses in Canada. 98% of them employ less that 10 people.

Of the businesses that are for sale – only 1 in 5 will sell.

Your business is not you and you are not the business. It’s tough for an entrepreneur to separate the two.

Listen to this radio interview with Wayne Vanwyck


George Torok

Host of Business in Motion

Motivational Business Speaker

Who is this book for?

This book is a must read for entrepreneurs and business owners who are thinking about their succession plan or drafting an exit strategy. Every business owner must plan for that transition. Unfortunately not everyone does. If you don’t plan your business transition someone else will make the decisions for you.


What is the urgency?

This book sounds a timely warning to the baby boomers within that group. Many of those business owners will be forced into a fire sale. Baby boomers have affected so many aspects of our culture and economy as they’ve grown older.

If you are a boomer you might recall the mortgage rates of the eighties hitting the high teens. I felt lucky to lock in at 14% for five years. Prices skyrocketed when boomers were ready to buy – and they will plummet when they are ready to sell.

This book offers some startling statistics. One that might chill you is “71% of business owners plan to retire within the next 10 years, yet only 7% have a written plan for succession.”

Imagine the financial, emotional and health tolls on the unprepared business owners. Perhaps the most traumatic issue for entrepreneurs is to let go of the business they built. That’s the case at the best of times. Imagine the pandemic when the massive baby boomer crowd decides to exit en mass. That’s the crisis.


Why should you read it?

The Business Transition Crisis is a good read for any business owner even if the only thing it does for you is to help you recast your business as a product – not as your baby. That major perspective shift is necessary for you to begin and successfully complete your transition.

The book continues to offer perspective checks and guidelines for the successful business owner. You can follow this systematic approach to prepare yourself and your business for successful transition. Even if you think that it’s too early to start planning your transition it will be worthwhile to read the book, address the questions and start preparing yourself for the process.

The book is written in a business-owner-talking-to-business-owner candor. Wayne Vanwyck offers you insights from his experience as an owner of three businesses. That includes lessons from his mistakes and successes. He reveals his own painful wakeup call that forced him to address his business transition.

The author provides insights from the interviews that he conducted with hundreds of business owners across North America. The excerpts from some of these conversations are revealing. Some examples will make you cheer while others might sadden you. In every case the lessons are clear and simple. This is reflective experience speaking to you.

If you are thinking about your business transition then this book is a powerful yet clear and simple step-by-step guide to personal and financial success. You are presented with probing questions that must be addressed at each step of the process. There are checklists, action lists and tips.

There’s help on how to build your transition team and ensure that all the relevant players are working for your best interest. The book introduces the intriguing concept of working with a Business Transition Coach. This is a role that offers more comprehensive support than one would receive from a lawyer, banker, accountant or business broker.

The book lists and explores several options of retiring from your business. In each case there are important steps you must follow to ensure the success of your health, financial security and important relationships.

The Business Transition Crisis is a book that every business owner needs to read before they retire so they can retire successfully.


© George Torok is the host of the radio show Business in Motion. He has interviewed over 450 business leaders. You can listen to those interviews free at http://www.businessinmotion.ca/ You can also listen to those Podcasts on iTunes. George is a motivational business speaker. Arrange a speech or presentation at http://www.business-speaker.biz/ or call 905-335-1997



Book review by George Torok

Learn more about The Business Transition Crisis

Creative problem solving is a process. You need both fools and experts on your creative teams.

Enjoy these thoughts on the topic of success. You don't need to agree. But it might be good to at least reflect on these thoughts.


Maturity is the result of experience, pain and reflection. If you are not yet mature enough – at least one of those is lacking.


Maturity is not a position. It is not an age. Maturity is a process. You will never be fully mature. You can only be on the maturity line.


The one thing that we all have in common is pain. Yet each of our pains is different. I might not understand your pain and you might not appreciate mine. Doesn’t that make us more alike than different?


Many people misunderstand the concept of balance. It doesn’t mean that your life should be balanced. It means that if you want more of one thing you must give up something else. It’s never equal and never balanced. It is give and take.


We often ask children, “What do you want to be when you grow up?” But we neglect to ask, “What are you willing to give up for that?”


Wisdom is not built on information. Wisdom is the result of questioning and reflection.


Confidence is not about knowing everything. Confidence is about being comfortable with not knowing what will happen next.


The best conversationalists ask good questions and listen.


Anybody can answer a good question. It takes a thoughtful person to ask a good question. When was the last time that someone said to you, “That’s a good question.”? Perhaps you need to work on your questions.


Simple is not the same as easy. Many people mistakenly equate the two and than become disappointed when simple is not easy.


Running a marathon is simple. First you move the left foot and then you move the right foot. Simple but not easy – because you need to do it 30,000 times.


The more challenging the obstacle the simpler your strategy needs to be.


Success is the result of doing little things consistently well over time.


George Torok

Motivational Business Speaker

Professional Speaker

This was a letter that I wrote to Lynne Everatt, columnist for the Globe & Mail. Her column described the antics of a Creativity Consultant who seemed to force people into following his orders.
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I read your column, “How Far will we follow the consultant?” (Mar 24) with both amusement and concern.

I was amused at the antics that your groups were “encouraged” to perform in the pursuit of creativity.

I was amused and impressed by Norm – the one who defied the instructions of the consultant – because I have done the same. If consultants expect to challenge the group they must expect to be challenged. This creativity consultant should have found a more creative tool to encourage participation other than threatening to tell the boss.

But what concerns me the most is the perception of Creativity than might have been left with your letter-writer and the other participants in this program. As both a student and leader of creativity it is clear to me that several prime directives of creativity were ignored by Bart the creatively consultant.

Even though creativity is the science of breaking rules – there are rules – or at least guidelines for creativity. It is a science – more than an art. It is only art to the uninformed.

One of the first rules of creativity is to provide a risk-free environment. If you want people to be more creative you must make them feel safe. Employees in a corporate environment will not be creative if they are punished for their creative excess or not participating.

If you are told that your idea was too crazy (or stupid) – you will be inclined not to play again. All it takes is a glance or rolling of the eyes to kill a creative thinker.

One of the greatest threats to creative thinking in a group is the non-acceptance of the group. The group leader determines and guides how the group might react. If you want people to be more creative – don’t punish them. If you want people to be more creative – value every idea and opinion.

To encourage creativity in a group you must allow individuals to choose not to play at any point. They need the option of calling a time out. This is a simple technique that reduces stress by giving a sense of control to the participants.

Robert Alan Black, creativity guru, called this, “Gone fishing.” At any time in his creative session a participant could announce, “Gone fishing”. The rest of the group would understand and that individual felt safe and still part of the group. That individual would also be more inclined to jump in later with creative ideas as they hatched.

Let’s be real. If you are told to jump around the room and you don’t want to – you don’t have to. If you are told to hug everyone and you don’t want to – you don’t have to. Although there might be creative aspects or interpretations to these actions they are not the goal of creativity. And creativity is not the goal either. Creativity is a tool that can be sharpened to reach a goal. And when it comes to business creativity should be focused on the bottom line.


Bottom Lines of creativity

Creativity is not about jumping around the room.
Creativity is not about being goofy.
Creativity is a skill set that can be learned.
Creatively is about thinking differently.
Creativity must be nourished.
Creativity is most productive when focused on a desired outcome.
There is a time to be creative and a time to follow procedure.
Management must clarify which is which.
Most creative ideas fail. That is normal. That is okay.
All great change comes from creative ideas.


George Torok is a student, instructor and explorer of creative problem solving.


“The problems that exist in the world today cannot be solved by the level of thinking that created them.”
Albert Einstein

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George Torok

Creativity Catalyst

Creative Problem Solving

Interview with Murray Hogarth, Executive Chairman of Pioneer Petroleums, President and CEO of the Pioneer Group

Murray Hogarth launched the first Pioneer gas station in 1956. Today there are more than 150 Pioneer gas stations across Ontario.

Pioneer donates 1% of profits – not revenue to charity.

Murray Hogarth was instrumental in the formation of CAFE – the Canadian Association of Family Enterprises.

Pioneer is the largest independant gas station chain.

Murray Hogarth was voted the Entrepreneur of the Year by the Burlington Economic
Development Corporation for 2010.
——————–
Insights from this interview:

“We wanted to beat the major oil companies at their game.”

“In the existing model, the customer was an interruption and the employee approached the customer with a bad attitude.”

“We introduced the first loyalty program – bonus bucks.”

“Where do you get innovative ideas? Listen to what your customer wants.”

“You have to have drive and a vision.”

“Insulate yourself from the risk.”

Listen to this radio interview

George Torok

Host of Business in Motion

Canadian Business Speaker

Audio interview with Walter Booth, Chairman of The Timberland Group

Walter Booth started at Timberland as a young Project Engineer more than 40 years ago. He rose to the rank of President, bought the company, sold the company and is now Chairman. He is an engineering graduate of McMaster University. He has donated at least $3 Million to the Faculty of Engineering.

The Timberland Group grew signifcantly during those years. Originally a company that manufactured winches for the logging industry, they now provide special winches and hoists for mining, power distribution, underwater exploration and off-shore oil.
———————————–
Insights from this 30-minute interview with Walter Booth:

“The business still excites me after 40 years.”

“They hired me because I had experience in the ski lift business.”

“Buying the company – we worked on that deal for at least a year. You want it to move faster
but it just took longer.”

“My boss encouraged me to join the Young Presidents Organization. I got to hang around successful business owners.”

“As chairman my chief role is mentoring and developing the new owners.”

"You have to bend the rules if you want success.”


Listen to the radio interview with Walter Booth


George Torok
Host of Business in Motion
Canadian Business Speaker

Business in Motion Podcasts

Business in Motion on iTunes

Enjoy these motivational insights from motivational speaker, George Torok. He delivers motivational keynote presentations for associations and corporations. He is hired for his expertise and remembered for his motivational messages. He is a business speaker with expertise in marketing and business growth – yet he is often quoted on his motivational insights.

If these quotes help to motivate you and your staff then feel free to repeat them. But be sure to quote George Torok as your source.


Motivational Insights from Motivational Speaker, George Torok


“Running your business is a lot like running a marathon. You don’t build your business by sprinting. You build it by being steady over the long run.”


“You don’t need to do every little thing perfectly. You just need to do them.”


“There is a myth that if you do what you love the money will follow. You should do something that you love, but the money will only follow if you also do some things that you hate.”


“An imperfect system is better than no system at all.”


“Success is simple but never easy.”


“Some of the things in your business are frustrating, embarrassing and painful. That builds character. To build your business you need to build your character.”


“Talent runs hot and cold. Don’t rely on talent. Follow systems.”


“Success comes from doing little things consistently well over time. It’s not about the lucky break.”


“Building a business is a race. But it is not about a race to the finish line – it is a race to keep running.”


“Watch what successful people do and don’t simply copy them. If you do, you will always be a follower. Watch what successful people do and ask yourself, “Why do they do it that way?”


If you like these motivational quotes – use them – along with crediting George Torok. If you want your people to hear these messages directly then arrange for George Torok to speak to your team.


Motivational Insights from George Torok
Motivational Business Speaker
George Torok

George Torok is a motivational speaker who specializes in marketing and presentation skills.

Common sense is not common enough. That’s why we have rules and laws. They are made for the lowest common denominator – those who don’t have enough common sense.

Don’t drink and drive. That’s just common sense. Yet we need a law that states that and corresponding punishments because some people don’t understand the common sense. They are the lowest common denominator. The law is for them.

Don’t drive more that 50 km above the speed limit because that is extremely unsafe. That’s common sense, right? Think about that. Don’t drive 100 in a 50k zone. Don’t drive 130 in an 80k zone. Don’t drive 150 in a 100k zone. Why is that so difficult to understand? Yet we need a special law for the lowest common denominator.

Don’t talk on your cell phone when driving your car. I was annoyed when this law was first proposed. How dare they tell me what to do in my car? I drive safely when I use my cell phone. Then I noticed all the other idiots using their cell phones while driving. I now agree that we need the law because of the lowest common denominator.

The next time that you run into a rule or law that annoys you, ask yourself two questions, “Is this for the lowest common denominator?” and “Am I guilty of being that lowest common denominator?”

If you aren’t the LCD then be thankful that someone is doing something constructive about the other idiots who are messing things up for the rest of us.

If you are the LCD – please wise up and save the rest of us some grief.


George Torok

Host of Business in Motion

List to Business in Motion Podcasts

Quotes from Dr Tomorrow, Frank Ogden


Stay alert, the future is going to be interesting.

In times of chaos, panic or rapid change, the bizarre rapidly becomes acceptable.

If you are not aboard the steamroller of change you stand a good change of becoming part of the road.

A sentence that has shock value carries more information than one that does not.

Only by changing as rapidly as a competitor can anyone survive.

If schools were factories, we would have closed them ten years ago because they're not producing a saleable product.

Jobs are going the way of child labour, slavery and indentured service.

I realized then that most people didn't believe in any concept until they saw, felt and tested the finished product. That is often too late.

The leading skill of the "Information Age" is to successfully sift "information" from "misinformation." Once you can do that you have knowledge.

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The above quotes are from the miniature book, "OGDENISMS" - The Frank Ogden Quote Book, compiled by John Robert Colombo and published in 1994.


Frank Ogden is a futurist who was a guest of the radio show, Business in Motion.


George Torok is the host of Business in Motion

Listen to Business in Motion on iTunes

Audio interview with Peter de Jager on Business in Motion

Interview with change agent and specialist, Peter De Jager. Peter is a consultant and professional speaker that helps organizations handle change effectively. He helped the world’s leading organizations successfuly handle the Y2K challenge.

Insights from this interview with Peter De Jager:

“The purpose of skiing is not to get to the bottom of the hill. It is falling down the hill with the most grace.”

“Being incompetent is normal – especially when dealing with change.”

“Don’t get into the water until you have learned to swim – is bad advice. How else will you learn to swim?”

Listen to this interview with Peter de Jager on Business in Motion with your host, George Torok.

iPad killer app #2: fixing meetings
By Seth Godin

Here's an app that pays for 12 iPads the very first time you use it. Buy one iPad for every single chair in your meeting room... like the projector and the table, it's part of the room.


I recently sat through a 17 hour meeting with 40 people in it (there were actually 40 p
eople, but it only felt like 17 hours.). That's a huge waste of attention and resources.

Here's what the app does (I hope someone will build it): (I know some of these features require a lot of work, and some might require preparation before the meeting. Great! Perhaps then the only meetings we have will be meetings worth having, meetings with an intent to produce an outcome). I can dream...


1. There's an agenda, distributed by the host, visible to everyone, with time of start and stop, and it updates as the meeting progresses.

2. There's a timer, keeping things moving because it sits next to the agenda.


3. The host or presenter can push an image or spreadsheet to each device whenever she chooses.

4. There's an internal back channel that the host can turn on, permitting people in the room to chat privately with each other. (And the whole thing works on internal wifi, so no internet surfing to distract!)


5. There's a big red 'bored' button that each attendee can push anonymously. The presenter can see how many red lights are lighting up at any give time.

6. There's a bigger green 'GO!' button that each attendee can push anonymously. It lets the host or presenter see areas where more depth is wanted.


7. There's a queue for asking questions, so they just don't go to the loudest, bravest or most powerful.

8. There's a voting mechanism.


9. There's a whiteboard so anyone can draw an idea and push it to the group.

10. There's a written record of all activity created, so at the end, everyone who attended can get an email digest of what just occurred. Hey, it could even include who participated the most, who asked questions that others thought were useful, who got the most 'boring' button presses while speaking...


11. There's even a way the host can see who isn't using it actively.
Can you imagine how an hour flies by when everyone has one of these in a meeting? How focused and exhausting it would all be?
$500 each, you'll sell 50,000...

PS no one built the first one yet. Sigh.

Seth Godin
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I'm with Seth on this. I hate meetings because people run them poorly and hence waste time and aggravate others.

George Torok

Host of Business in Motion

Business Speaker

Ursula Burns, CEO of Xerox talks with Spelman college about global leadership.




George Torok

Want to lose your job. Keep buying foreign


That was the bumper sticker on the Chrysler pickup in front of me at the stoplight. I’ve seen that bumper sticker a few times before and was bemused by it each time.

I don’t remember if the other stickers were on Chrysler products. For sure it was one of the former big American three. When I saw the bumper sticker my immediate thought was ‘Red neck idiot”.

That bumper sticker reveals more about the individual then he might care to reveal. I say “he” because each time the driver was a male.

He is afraid of competition. His message screams – don’t buy from the competition because I don’t want to compete. I’m too comfortable with my highly paid job. If the only reason to buy your product is to save your job – how good can the product be?

How does he define foreign? Is it by geography? Does he care about the workers in the next city, county, province or state? Is Canada foreign to USA? Did he buy local produce at the grocery store? Are Florida oranges in his kitchen? Is he eating bananas from South America?

Does he abhor other countries’ products? I hope there are no TV’s in his house – because they are no longer made in North America. How serious is he about not buying foreign?

Better not be any computers in his house or office. Dell is an American based company but if you open any computer you will discover a map of third world countries on the mother board.

I just bought a light bulb at the Home Depot in Burlington, Ontario. It was manufactured in Mexico. Is that bad? Mexicans, Americans and Canadians participated in the delivery of this product. Does he feel threatened by that?

Clothing. What are you wearing? Better not be wearing Nike – because it comes from foreign nations. As a Canadian patriot you have very few choices for clothing.

Did this Canadian patriot ever buy or desire to buy a vacation in the USA, Caribbean or Europe? Did he promise to take his family to Disney World or his wife to Hawaii? Imagine how unpatriotic that would be. Why not vacation in Nova Scotia or the Yukon?

Did he enjoy a pizza, Chinese, Greek or other foreign dish lately? How committed is this red neck to avoiding the purchase of foreign?

Maybe this redneck is only worried about his own neck and just wants to keep his easy job. You can’t blame him. But you don’t need to listen to him or feel sorry for him.

I suggest that you buy the best deal that you get even if that is foreign.


George Torok
Host of Business in Motion
Canadian Business Speaker

Thriving in a recession: Part 2
by Mark Elwood


WATCH YOUR CASH FLOW

Any business can run out of cash, even a profitable one. As an example, says marketing expert Ian Mishkel, small retailers can get pinched when they have to buy inventory that does not turn into cash for a while. Cash is king, so plan your cash flow. Start with a simple spreadsheet. In columns across the top, enter the months of the year. In the rows down the side enter your sources of revenue. Below these, list all your major expenses into the future. Be sure to include your own salary, plus a provision for taxes, as well as reserve funds. At the bottom subtract expenses from revenues each month to obtain your month-end balance. This becomes your opening amount for the next month. It sounds basic, but few entrepreneurs do it.

Under normal conditions, you might estimate about three months out. In tougher times, consider projecting your cash for up to a year. At some point during this period, expenses will continue, but revenues will stop. Your projection will show a shortfall. That’s where you will need to dip into your savings, or take advantage of a line of credit. Include those in your cash flow. Then, any new business that comes in will be a bonus, and will reduce the need to dip into savings.

Here is what is important about this approach. By making a decision now that you will borrow six months from now, you remove the pressure of having to make a sale this month. The result is that you can remain cool and calm, knowing that your cash flow plan will sustain you through the year. This minimizes short term worrying. As Toronto based chartered accountant Rubin Cohen says, “When you maintain your composure, you are more successful than when you are desperate.”

BEWARE OF EXPENSE LEAKAGE

Financial planners such as Michael Chow from Stonehaven Financial Group and Derrick Lahey from RBC Dominion Securities warn about expense leakage. All the minor daily expenses that we pay little attention to create leakage. Together they can be a real burden, because nothing adds up to much, but everything adds up to a lot. Consider how much you spend on coffee, cigarettes, chocolate bars, muffins, road tolls, cell phone calls, your Blackberry, coffee, your cable bill, credit card interest, coffee, and newspapers. Oh, and did I mention coffee? When you track your expenses for a month, you will be surprised at the impact of small expenses. Cut out the things you thought were essential, but really aren’t.

There is a different kind of leakage at the other end of the financial scale – big expenses for the cottage, private school education, a second car, the kitchen renovation, membership dues at the club you rarely use, outstanding credit card debt, a home theatre, and many others. These are the big-ticket items that are harder to cut in the short term, but also create a financial strain.

The minor daily expenses are mostly just stuff. The big expenses are mostly just possessions. But what many people really want are the things that cost somewhere in the middle. They want more experiences in their lives. They want dinner dates, trips to the zoo, vacations, lunch with a friend, a day at the spa, and theatre tickets. Creating experiences is also about purchasing time for them by hiring others to free up time. Someone to clean the house, a virtual assistant to conduct clerical tasks, baby sitters, and handymen. By controlling the big expenses and the small ones, you’ll have more money for the medium-sized expenses that pay for great experiences. Do what you do best, and delegate the rest.

Another aspect to money management is saving. Are you having trouble putting money aside? Dump your coins into a jar at the end of each day. They will add up fast and you can use what accumulates for “mad money” – a special treat or a night out once in a while to celebrate.

SMILE AND BE GRATEFUL

When you look back at the past, there is often temptation to be regretful or wish longingly that things had turned out differently. Unfortunately, you create negative energy when you use phrases like these:
· “I should have cashed my stocks…”
· “I missed a chance to buy that house…”
· “If only I had followed his advice…”,
Regret drags you down. You should learn from you mistakes, not dwell on them.

Looking in the other direction towards the future, anxiety can be just as much of an energy drain:
· “I’m worried I won’t have enough money”
· “My health might not last.”
· “I might lose my job.”

Gratitude on the other hand, is appreciating what you have right here and right now. If you are healthy, if you have a family, if you have customers, and if you have friends, then you have everything to feel good about. Gratitude trumps regret and anxiety any time. So pause, reflect, and find joy in all that you have. The moment you are in now is pretty special. Remember – some day, these will be the good old days. Celebrate your success.

Thriving in business is about getting sales, but it is also about having a positive outlook. We are entrepreneurs. We make choices for ourselves. We choose our own path. We succeed where others can only wish. So go out and thrive. Do the things that are nourishing, productive and positive. And keep smiling. After all, your time is worth it.


Mark Ellwood is the president of Pace Productivity Inc., a consulting firm based in Toronto, Canada that shows employees how to gain three hours per week on their top priority activities.