Un sondage de BDC démontre que 46 % des entrepreneurs se fixent des cibles de croissance des revenus d’au moins 10 %

Les résultats détaillés du sondage sont disponibles sur le site Web de la Semaine de la PMEMD de BDC, à l’adresse www.bdc.ca/fr/sbw2010/pages/medias.html.



Un sondage de BDC démontre que 46 % des entrepreneurs se fixent des cibles de croissance des revenus d’au moins 10 %



Faits saillants du sondage



Une vaste majorité (78 %) des entrepreneurs affirment que la croissance de leur entreprise est importante pour eux.

• Les propriétaires d’entreprise canadiens sont optimistes en matière de croissance. Presque la moitié (46 %) d’entre eux visent une augmentation d’au moins 10 % de leurs revenus l’an prochain. Les cibles de croissance varient toutefois d'une région à l'autre. En Ontario, 18 % des entrepreneurs visent une hausse élevée des revenus de 20 % ou plus; dans les provinces de l’Atlantique cette proportion descend à 3 %.

• La taille de l’entreprise et le secteur d’activité influencent considérablement le désir de croissance. Les propriétaires des entreprises qui comptent 50 à 499 employés accordent plus d'importance à la croissance que les propriétaires des entreprises qui comptent 1 à 4 employés. Les entrepreneurs qui aspirent le plus à la croissance œuvrent dans les secteurs suivants : médias et culture, fabrication ainsi que transport et entreposage.

• Les entrepreneurs estiment que l’amélioration de la productivité générale et l’accès à de nouveaux marchés sont les mesures les plus efficaces pour favoriser la croissance d’une entreprise.

Montreal, le 21 octobre 2010 – La Banque de développement du Canada (BDC) a dévoilé aujourd’hui le troisième volet d’un sondage visant à mieux comprendre l’expérience et les intentions des entrepreneurs en matière d’investissement, d’innovation, et de croissance. Réalisé par Opinion Publique Angus Reid, le sondage a notamment démontré que 78 % des entrepreneurs croient que la croissance de leur entreprise est importante. À peine 6 % affirment qu’elle ne l’est pas. Les données du sondage ont été dévoilées dans le cadre de la Semaine de la PMEMD, qui se déroule du 17 au 23 octobre afin de célébrer l’entrepreneuriat canadien.



Près de la moitié (46 %) des entrepreneurs visent une croissance des revenus pour la prochaine année de 10 % ou plus. Plus précisément :

• 22 % ont un objectif de croissance de 10 à 14,9 %

• 9 % visent une croissance entre 15 et 19,9 %

• 15 % ont un objectif élevé de 20 % et plus (18 % en Ontario, mais seulement 3 % dans les provinces de l’Atlantique, ont un tel objectif)

« Contrairement à certaines idées reçues, la grande majorité des entrepreneurs canadiens ont soif de croissance, a constaté Jean-René Halde, président et chef de la direction de BDC. Quand on sait que près de 98 % des entreprises canadiennes sont petites, c'est-à-dire avec moins de 100 employés, et que la compétitivité est souvent fonction de la taille, il est encourageant de constater que nos entrepreneurs gardent le cap sur la croissance. »



Le désir de croissance varie en fonction de la taille de l’entreprise et le secteur d’activité. Les entrepreneurs dont l’entreprise compte 50 à 499 employés sont plus nombreux à considérer la croissance comme importante. C’est le cas de 89 % d’entre eux, comparativement à 82 % pour les propriétaires d’entreprise comptant 5 à 49 employés, et à 75 % pour les propriétaires d’entreprise comptant 1 à 4 employés. La croissance semble plus importante aux yeux de 96 % des entrepreneurs qui travaillent dans le secteur des médias et de la culture, de 92 % de ceux du secteur de la fabrication, et 90 % de ceux du secteur transport et entreposage.



Des mesures pour favoriser la croissance

Pour favoriser la croissance de leur entreprise, les entrepreneurs considèrent qu’améliorer leur productivité (23 %) et accéder à de nouveaux marchés (22 %) seraient les mesures les plus efficaces. Les entrepreneurs considèrent également que développer de nouveaux produits et services (16 %) et embaucher plus de travailleurs qualifiés (16 %) pourraient également s’avérer bénéfiques pour la croissance de leur entreprise. Comparativement à la moyenne nationale, les entrepreneurs du Québec sont plus nombreux à mentionner le développement de nouveaux produits et services comme une mesure bénéfique à leur croissance (27 %).



Trouver des moyens d’accéder à de nouveaux marchés est particulièrement important pour les entrepreneurs du secteur de la fabrication (37 %). Embaucher davantage de travailleurs qualifiés est plus important pour les entrepreneurs du secteur de la construction (29 %).



« Les entrepreneurs sont optimistes par nature. Ils préfèrent voir le verre à moitié plein plutôt qu’à moitié vide et ne se laissent pas facilement décourager par les aléas de l’économie, a déclaré Jean-René Halde. Compte tenu du rôle clé que jouent les PME dans la création d’emploi et de richesse au pays, il sera crucial de redoubler d’efforts pour soutenir les entrepreneurs dans leurs projets de croissance. »



Méthode de sondage

Le sondage de BDC a été mené en ligne auprès des Canadiens participant au panel Forum Angus Reid, parmi lesquels des entrepreneurs ont été choisis au hasard. Les Canadiens propriétaires d’entreprise comptant de 1 à 499 employés ont été invités à remplir le sondage, entre le 15 et le 23 juin 2010. Un total de 830 personnes de toutes les provinces et de tous les territoires l’ont fait (taux de réponse de 33 %). La marge d’erreur maximale pour un échantillon de 830 répondants serait de ± 3,4 points de pourcentage, à un niveau de confiance de 95 %. Les résultats ont été pondérés en fonction des régions et du nombre d’employés pour demeurer représentatifs des PME canadiennes.



Les résultats détaillés du sondage sont disponibles sur le site Web de la Semaine de la PMEMD de BDC, à l’adresse www.bdc.ca/fr/sbw2010/pages/medias.html.

Using social media to find top recruits

from bdc.ca

Canadian businesses face a paradox. While unemployment remains high, employers can't find the skilled people they need. Can technology turn the tide?




Entrepreneurs who know how to use social media — or are willing to learn — will find that interactive Internet technologies are good for much more than telling the world what you had for lunch. Interactive communications tools such as LinkedIn, Facebook and even Twitter can help you identify great people sooner, become a talent magnet, and weed out people who don't fit your workplace culture.



Business-focused sites such as LinkedIn and Plaxo, as well as industry-specific online forums, can connect you to potential candidates whose intelligence, drive and experience make them likely to succeed in your organization. How do you identify these people?

• Join industry forums and regional business discussion groups. Follow online discussions, or start conversations of your own, and you’ll connect with many smart, outgoing people who you can then arrange to meet offline.

• Many of these sites contain detailed resumes or descriptions of current activities. Use these databases as your own HR search engines. Want a CFO with big-firm experience, or a programmer who knows Apple apps? Instead of posting ads or hiring recruiters, you can now find and pitch these experts directly.

• Even ads are more effective with social media. Social sites such as Facebook and LinkedIn let you reach the market you’re targeting, whether it’s accountants, geological engineers or sales managers in Winnipeg. By purchasing specific demographics or keywords, you can target qualified candidates for a fraction of the cost of a traditional search. Using LinkedIn ads, one Montreal entrepreneur recently hired two hard-to-find technicians for about $500, one-twentieth of what he usually spends on a specialist recruiter.

Filter out bad candidates

You can also use social media to help to weed out unsuitable candidates. Employers have always complained about candidates who interview well, but don't have the underlying character they need. A recent study showed that 45% of North American employers are now using social media tools such as Facebook to learn more about promising candidates.



With more than 500 million active users, there’s a good chance many of your candidates are on Facebook — and as the site relaxes its default privacy settings, it’s becoming easier to follow what members are doing and saying. Reviewing messages that candidates post to their Facebook friends can give you a better idea of what they're like “off-stage.” Many employers have found this a useful way to filter out immature candidates who lack a professional work ethic or communication skills.



You can also look up individuals on Twitter, LinkedIn and other sites to get additional insight into their “candid” character.



Once you find good people, you still have to sell them on joining your company. So use social media to position your business as the place to be. Encourage staff to blog about their work, and why your company is so cool. Create Twitter streams for your company or products that let customers, suppliers, employees and potential employees know about your market-leading initiatives, and what makes it a fulfilling place at which to work. Ask a staffer to put up a company page (a mini-website) on Facebook as a place for employees and customers to share their ideas and enthusiasms.



How do you find the content to fill those channels? You can announce new products, introduce new employees, report on company events or comment on industry trends. Just make sure that all your communications consistently represent the company as you want it to be seen: a market leader, a positive member of the community and a satisfying place to work. Because great employees want nothing less — while you're Facebooking them, they're Googling you.

Meeting with success

from www BDC.ca

Meeting with success


Poorly managed meetings have been called the black holes of the work day and can weaken your company's productivity. According to a worldwide study conducted by Microsoft Corp., business people spend nearly 6 hours a week in meetings and nearly 70% of the participants reported that their meetings were unproductive.

"Too many meetings, lack of preparation, no follow-up and employees zoning out because they've lost interest are among the typical problems," says Pamela Darragh, assistant vice president, market solutions at BDC. "Badly managed meetings can also have a negative effect on employee morale and teamwork. If people routinely arrive late for your meetings, stare at their BlackBerrys and aren't taking notes, your company has some improvements to make."



Darragh recommends these best practices for brushing up on your company's meeting culture:

• Reduce the number of meetings by finding other ways to address business. If it's simply information-sharing or reviewing project status, for example, consider email or other written communications. Your employees will be grateful and use the time more productively.

• If you're undecided whether or not you need a meeting, ask yourself: do I need the input of other people, to make team-based decisions or solve a contentious issue? If not, you may not have a valid reason to hold that meeting.

• Create a company culture where meetings are valued and respected. If you allow people to be systematically late or arrive unprepared, you are sending out a message that your meetings are unimportant. Close the door once the meeting begins and don't start over for latecomers.

• Send out an agenda in advance so that participants can be fully prepared. Be sure it is action-oriented. If participants aren't key to achieving a goal, they shouldn't be there. You can allot specific times for each topic to keep the meeting on track and request that somebody take notes.

• If you find you're attending too many meetings, check with the organizer first to see if your presence is necessary. Maybe you can assign somebody else on your team to attend.

• In today's demanding business environment, last-minute meetings are sometimes necessary, but they should be an exception and not the rule. Don't hold meetings outside of normal business hours unless it's an emergency.

• If you hold a meeting to solve a problem, start with a brainstorming session first to stimulate creativity; write ideas somewhere visible in the room and don't censor employee input. Once everybody has had a chance to express their point of view, you and your team can decide which ideas work best.

• Keep the atmosphere positive. Don't criticize colleagues at meeting. If participants become angry or highly critical, politely draw them back to the original agenda.

• To keep your meetings shorter, give the participants brief summaries of topics and avoid handing out lengthy documents. If people are flipping through a PowerPoint while you talk, they're probably not listening.

• To deter overly vocal participants from dominating a meeting, be sure that everyone there has an opportunity to speak with a suggested time limit.

• If you reach a stalemate on a contentious issue, know when to move on; don't linger on issues because you can't reach a consensus. Come back to it at a later date.

• Close with a plan of action and circulate it at the end of the meeting. Ensure that everyone leaves knowing what is expected of them.

Plan your growth step-by-step

from bdc.ca

When your company is growing fast, you may not have enough cash to deal with day-to-day operations. In today's business environment, your liquidity or cash flow is your lifeline. After all, you have to pay your bills, payroll, supplies and meet any other financial obligations, often on a daily basis.

It's a bit of a paradox but companies are often crushed by their own growth. A boom can bring about many changes in your organization – you might be taking on numerous commitments at once, sign lucrative contracts in record time and watch orders soar. But of course, all of this requires greater cash flow needs, growth planning and the right financing.

Take a proactive approach
Fast growth is not always easy to handle, but a step-by-step approach can help entrepreneurs make it more manageable. It is essential that, even in a boom period, you keep control of the situation.

Define your growth objectives
Be strategic about your growth. It's a good exercise to first ask yourself some very basic questions in order to determine your key objectives.

• Do I have the necessary capital to finance my growth?
• Am I having cash flow problems, or am I managing well? For instance, do I have assets that I could turn into cash if need be?
• Am I expanding too quickly?
• Am I growing because I want to be more profitable or is it growth for growth's sake?
• Am I hiring too fast?
• Am I collecting my receivables fast enough?
• Is my inventory in line with my growth?
• Is my production line efficient?
• Does my management team have the right competencies to handle my company's growth?

Do a growth diagnosis of your company
Essentially this means analyzing how you manage your company and how to gain more control over the aspects of your business that affect your cash flow. Generally, a comprehensive growth diagnosis includes an analysis of your sales, overhead, receivables, inventory and assets. Try and assess whether your inventory and capital assets are absorbing too much of your cash flow, if they do, take the necessary steps to tightly control them. This will help you define your refinancing requirements and help you avoid future liquidity problems.

Ensure your growth is sustainable.Be certain that your company is not undergoing seasonal or one-time-only growth.

Prepare a growth strategy which will enable you to understand the risks and opportunities for your company. Your strategy is a result of looking closely at internal resources, the market, the economy, competitors, marketing and distribution channels and demographics.

Forecast your cash requirements by doing an analysis of your cash inflow and outflow. This will enable you to determine future cash requirements. Knowing this, you can look at your current financial situation and assess if you can make improvements. You may be able to get additional financing for working capital, restructure your debt or convert unused assets into cash.

Analyze receivables and payables to see how you can improve your liquidity problems. To improve how you manage your receivables, be sure that you:

• Do credit checks on clients
• Have clear payment terms
• Use the right collection methods
• Resolve problems quickly
• Monitor the collection time and take the right means for substantially overdue accounts, such as freezing accounts
• If your credit policy is affecting your cash flow, are there any ways to reduce your collection time?

Apply the same logic in examining your payables: a sale is not a sale until the money is in your bank. Ask yourself:

• How much commercial credit do you get from your suppliers? How much interest do you pay?
• Do you wait until the due date to pay your suppliers or do you pay them in advance?
• Can you get an extension on your commercial credit?
• Do you use the "just-in-time" method i.e. reduce your inventory by closely coordinating reorders and deliveries?

Control costs through vigilant planning. You can consider using a rigorous streamlining system that addresses overhead such as: rent, equipment, human resources, office supplies, etc. Be sure you set concrete goals for cost-cutting, assign somebody accountable and secure employee buy-in to help reduce costs. Be particularly careful about maintaining cost controls during growth spurts where businesses often binge with spending.

Control debt to ensure that your lenders will continue to consider you as a viable client and give you the financing that you need to meet your needs. Remember that high-growth companies can be risky for financial institutions. You can also look for alternatives to conventional debt financing. For example, you can negotiate better payment schedules with suppliers, or look at leasing vs. buying assets.

Get the refinancing you need
After analyzing your company, you will be better able to examine your payment procedures. Refinancing can help reduce your monthly payments by rescheduling your debts and spreading your payments over a longer period.

A refinancing application is very similar to a financing application. In both cases, the lender establishes certain debt repayment conditions, which you must be able to fulfill. If you cannot demonstrate your repayment ability, the lender cannot assume the risk alone.

BDC provides loans to refinance debt for businesses undergoing rapid expansion, purchasing equipment or increasing financial flexibility. For example, you could replace multiple debts with a single debt that is easier to manage. BDC also provides flexible-term refinancing which can be repaid in equal monthly, progressive or seasonal installments. Terms take your enterprise's rate of cash flow into account. The repayment period is determined by the nature of the assets provided as security.

If you answer yes to several of the five questions below, BDC may be able to grant you a loan to refinance your debt:

• Is your management team competent and experienced?
• Are you able to clearly demonstrate your ability to repay the loan?
• Does your business have good equity capital?
• Taking your business project into account, is your working capital sufficient to cover short-term needs?
• If your business is in the start-up or development stage? Has a complete business plan (including a financial forecast and a description of your management team, products and market) been prepared?

Strategic planning demystified

from www.bdc.ca

It may seem like an obscure concept for many entrepreneurs and it's definitely had some overexposure in the business press. However, strategic planning is absolutely essential for anybody doing business today, whether you're a big or small player.

Why? Simply put, strategic planning determines exactly where your organization is going over the next year or more and how it's going to get there. A strategic plan is a coordinated and systematic way to develop a course and direction for your company. Basically, if you don't have a strategic plan, it's akin to navigating unknown territory without a map. And without a map, you're lost in a highly competitive business environment that will inevitably throw these challenges your way: increasing globalization, unpredictable investment patterns, more demanding clients and the dizzying speed of technology. A rule of thumb is that if there's uncertainty on the horizon, which there always is today, the greater the need for strategic planning.

What does it generally include?
Keep in mind that strategic planning usually involves a number of steps and people use a myriad of terms. You'll find vocabulary such as organic strategic planning, issues-based planning and goals-based planning. But in the end, the terms aren't that important. Since no two businesses are alike, the process you choose to do your strategic planning should fit the nature of your business. You can adapt it to suit your needs. For example, if you're a small firm, a brief strategic plan might be appropriate. If you're a bigger company, a more detailed plan on various aspects of your organization may be more effective.

What's important is that you have a document that outlines where your company is going, so that everybody in your business is working with the same information. Ultimately, strategic planning helps to gauge what an organization is, what it does exactly, and why it does it, with a focus of optimizing your future potential.

It's not a business plan
Don't confuse a strategic plan with a business plan, which is a much broader document and includes a strategic plan, a marketing plan, financial plan and operational plan.

Here are the basic steps:

Prepare and define the scope of your planning by reviewing your motivation, costs and means.

Analyze your strengths, weaknesses, opportunities and threats through a review of your company's internal environment and looking at external factors such as competition and demographics.

Formulate strategies by looking at exactly what strategies and tactics you take as a result of the above factors.

Implement your strategies by assessing your resources and getting your plan on paper.

Communicating the plan by getting your message out to your key players.

Measuring your success by tracking your progress and motivating your employees to keep up their efforts.

Who carries it out?
Your strategic planning should be carried out in a team environment that involves key players in your business. Generally, it's headed by the president of the company, who gets input from employees or a specific team assigned. The team identifies key factors for the strategic analysis and participates in that diagnosis through, for example, interviews. The team is also involved in the formulation of the strategic direction and action plans.

When is the best time for strategic planning?
The scheduling for the strategic planning process depends largely on the nature and needs of your organization. For example, if your business environment changes rapidly, strategic planning is essential to keep afloat and should be carried out at least once a year. A rule of thumb is to be disciplined and ensure it happens regularly.

Generally, it should happen:

- When you start a business
- If you're preparing for a new venture such as a product launch
- Markets are changing
- If the business environment (laws, regulations, business practices) is changing
- How will it benefit you?

Strategic planning will help you:

- Define the purpose of your company and set realistic goals.
- Communicate those goals to your players.
- Ensure employees better use resources.
- Measure your progress and find means to fill gaps.
- Build a consensus in your company about where your organization is going.
- Increase productivity by ensuring that employees know where they're going and what's expected of them.
- Capitalize on your strengths.
- Overcome your weaknesses.
- Take advantage of business opportunities.
- Defend against threats to your organization.

Deux outils de planification essentiels pour votre entreprise

extrait de www.bdc.ca

Il est essentiel, pour assurer sa réussite en affaires, d'avoir des objectifs clairement définis et de mesurer les progrès enregistrés en vue de leur réalisation. La question est de savoir comment déterminer ce que votre entreprise peut accomplir, d'une façon réaliste, dans un laps de temps donné.

À cet égard, 2 outils de planification essentiels peuvent vous aider. Le tableau de bord de gestion est un outil qui suit l'évolution de votre rendement. L'analyse comparative vous permet pour sa part d'évaluer votre rendement par rapport à celui d'autres acteurs de l'industrie. L'un et l'autre vous permettront de continuer à faire progresser votre entreprise.

Tableau de bord de gestion
Un compteur de vitesse ou une jauge à essence vous fournissent des indications essentielles pour vous rendre à bon port en toute sécurité et dans les délais prévus. Il ne vous viendrait pas à l'idée de conduire une voiture qui en serait dépourvue. De la même façon, toutes les entreprises devraient garder certains types d'information à l'œil pour s'assurer de maintenir le cap. Le tableau de bord de gestion vous fournit des données récentes et objectives sur votre entreprise, dont vous pouvez vous servir pour prendre des décisions éclairées.

Cet outil est connu sous une foule d'autres noms: tableau de bord exécutif ou du rendement, sommaire des indicateurs de rendement clés (IRC) et fiche de rendement de l'entreprise.

Pour l'essentiel, le tableau de bord de gestion permet aux gestionnaires de voir d'un seul coup d'œil les aspects les plus importants de leur entreprise. Il fait en un seul et même endroit un résumé des données recueillies auprès de différentes sources à l'échelle de votre entreprise. Il peut comprendre une vue d'ensemble, des chiffriers et des éléments graphiques (comme des diagrammes à barres ou des diagrammes circulaires).

Un tableau de bord de gestion peut être créé à l'aide de progiciels spécialisés permettant une actualisation de l'information en temps réel. Il peut aussi être conçu au moyen d'outils simples, tels qu'un chiffrier électronique ou un logiciel de traitement de texte, à l'aide desquels vous pourrez effectuer un suivi manuel des données importantes sur une base régulière.

Les avantages d'un tableau de bord sont nombreux. Il permet de convertir les objectifs en données mesurables et d'obtenir rapidement des renseignements objectifs. Les graphiques facilitent les évaluations rapides et permettent de repérer facilement les tendances négatives ou les problèmes dans les projets ou les différents services.

Optimiser l'utilisation du tableau de bord
Pour accroître autant que possible les avantages de votre tableau de bord, vous devez l'adapter à votre entreprise. Avant de décider des aspects à surveiller, commencez par passer en revue vos principaux objectifs d'affaires. Ceux-ci doivent être aussi précis que possible. Par exemple, voulez-vous augmenter le nombre de clients fidélisés ou trouver davantage de nouveaux clients? Est-ce une priorité pour vous d'améliorer les flux de trésorerie? Souhaitez-vous éventuellement exécuter les commandes plus rapidement ou réduire le nombre de produits retournés?

Établissez les IRC que vous souhaitez utiliser pour mesurer fréquemment vos progrès par rapport à vos objectifs d'affaires. Ces IRC doivent respecter le principe SMART: Spécifiques, Mesurables, Atteignables, Réalistes et fixés dans le Temps.

Suivre de près les données
Vous devriez recueillir continuellement des données pour le tableau de bord et les passer en revue régulièrement. La consultation du tableau de bord est d'autant plus efficace que vous l'intégrez à votre emploi du temps. À la longue, ces données formeront un tableau d'ensemble qui vous permettra de détecter rapidement les nouvelles tendances ou les anomalies.

Points éventuels à surveiller
Si vous attachez de l'importance au nombre de clients fidélisés, vous pourriez calculer le nombre de clients qui passent une deuxième commande en un laps de temps bien défini (3, 6 ou 12 mois). Si vous avez pour objectif de trouver de nouveaux clients, vous pourriez évaluer le pourcentage de clients éventuels et de référencements de clients qui se traduisent par une commande en l'espace de 12 mois. Si votre priorité est d'améliorer les flux de trésorerie de votre entreprise, vous pouvez commencer par recenser les comptes dont le paiement accuse un retard de plus de 30 jours. Vous remarquerez ainsi rapidement toute augmentation des comptes impayés. En agissant immédiatement et en intensifiant les efforts de recouvrement, vous pourrez corriger la situation avant qu'elle n'affecte votre trésorerie.

Tableau de bord électronique
Les logiciels de tableau de bord présentent généralement vos données sous une forme graphique (diagrammes, indicateurs de mesure ou voyants avertisseurs) facile à comprendre. Vous pouvez également télécharger des objets fenêtre (dashboard widgets). Il s'agit d'outils d'interface graphique qui recueillent des informations et les affichent sur votre bureau. Chaque objet fenêtre (ou widget) peut, comme n'importe quelle icône ou fenêtre, être déplacé sur le bureau, réorganisé ou supprimé.

Si vous envisagez l'achat d'un logiciel, vous devez bien connaître les besoins de votre entreprise. Évaluez s'il peut s'adapter aux IRC que vous souhaitez suivre de près et si vous avez besoin d'un logiciel additionnel pour recueillir des données. Vérifiez s'il couvre plusieurs secteurs fonctionnels ou s'il est propre à un seul d'entre eux (p. ex., les ressources humaines). Veillez à ce qu'il soit non seulement flexible et facile à personnaliser, mais qu'il s'intègre également à vos autres systèmes (comme la gestion des relations avec la clientèle et le logiciel de comptabilité). Pour terminer, regardez si vous pouvez modifier la façon de générer les rapports (par région, par représentant commercial ou par produit).

Après avoir établi ce dont vous avez besoin, vous devez dresser un budget comprenant les coûts liés à l'achat, à l'installation, à la formation et à la maintenance annuelle. Tenez compte des coûts associés aux mises à jour ou aux composantes additionnelles. Peut-être voudrez-vous aussi préparer un plan d'acquisition pour étaler les coûts.

Analyse comparative
Faire le point sur la situation d'autres entreprises de votre secteur vous aidera à avoir une idée plus juste de vos propres pratiques d'affaires.

Bien souvent, les ratios financiers peuvent vous permettre de faire des comparaisons avec les moyennes et médianes de l'industrie.

Les entreprises innovatrices, qui sont des chefs de file, peuvent aussi servir de modèles à d'autres. L'analyse comparative consiste à repérer les meilleures pratiques (résultats obtenus) des leaders de l'industrie et à comparer ensuite votre propre rendement au leur.

Une analyse comparative peut couvrir pratiquement tous les domaines d'une entreprise et s'avérer un outil très utile pour en favoriser l'amélioration continue.

Avantages
Le fait de comparer votre rendement à celui d'autres entreprises vous permet également d'améliorer la planification stratégique, l'efficacité de vos opérations ainsi que vos produits et services.

Étapes de l'analyse comparative
Il existe 6 étapes fondamentales pour réussir une analyse comparative.

1. Déterminez le secteur que vous souhaitez améliorer

2. Mesurez votre rendement dans ce secteur

3. Déterminez les entreprises ou l'industrie auxquelles vous voulez
vous comparer

4. Déterminez votre façon de recueillir l'information sur le ou les
sujets ciblés

5. Comparez les données rassemblées à votre rendement

6. Dressez un plan d'action pour combler tous les écarts que vous
pourriez avoir relevés

Le gouvernement fédéral offre un outil en ligne pour aider les Canadiens à comparer leur entreprise à d'autres du même secteur d'activité, à partir de données recensées par Statistique Canada. Pour en retirer le maximum d'avantages, vous devez inscrire toutes les données financières de votre entreprise. http://www.ic.gc.ca/eic/site/pp-pp.nsf/fra/accueil

La BDC fournit elle aussi un outil d'analyse comparative à ses clients. Celui-ci leur permet de se comparer à l'industrie à trois égards: le délai moyen de recouvrement des comptes clients, le délai moyen de règlement des comptes fournisseurs et la rotation des stocks. Ces comparaisons peuvent faire ressortir les domaines dans lesquels votre entreprise s'en tire bien et ceux qu'elle gagnerait à améliorer.

Faire des comparaisons
Vous devriez considérer l'analyse comparative et les meilleures pratiques comme des moyens de mieux comprendre vos propres processus d'affaires. Assurez-vous de bien saisir pourquoi l'entreprise à laquelle vous vous comparez a réussi avant de l'imiter. Des pratiques qui font des merveilles pour une entreprise n'en feront pas nécessairement autant pour d'autres.

Vous devriez par conséquent évaluer soigneusement si une pratique exemplaire pourra donner de bons résultats pour votre entreprise, dont la taille, les marchés ou l'orientation stratégique peuvent être différents. Les pratiques doivent servir avant tout de source d'inspiration. Vous pouvez ensuite les adapter afin qu'elles cadrent avec vos réalités et vos besoins particuliers.














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Comment évaluer l’entreprise à acquérir

extrait de www.BDC.ca

Déterminer la valeur d'une entreprise que vous voulez acquérir est un exercice complexe. Il s'agit d'une tâche laborieuse, qui est loin d'être une science exacte. L'évaluation fournit une valeur théorique qui vous donnera une idée du juste prix à payer pour l'entreprise.

Vous ne devez pas vous fier au seul jugement de votre comptable ou du vendeur. Il est recommandé de faire appel à un spécialiste de l'évaluation d'entreprises pour qu'il produise un rapport indépendant. Bien qu'il s'agisse d'un domaine non réglementé, l'Institut canadien des experts en évaluation d'entreprises (ICEEE) (en anglais) fournit des lignes directrices et un code de déontologie.

En règle générale, il vous sera rarement possible de comparer votre acquisition potentielle avec une transaction semblable. Les données disponibles à l'égard de ce genre de transaction privée sont plutôt rares et, bien souvent, elles ne s'appliqueront pas à votre situation. Il se peut également que les modalités soient trop liées à un secteur d'activité particulier pour être utiles et que des circonstances particulières – telles que le paiement d'une prime par l'acheteur en vue d'éliminer la concurrence – viennent fausser la valeur réelle de l'entreprise.

Trois niveaux d'assurance
Selon l'ICEEE, il existe trois sortes de rapport allant du plus approximatif au plus détaillé:

1- Rapport de calcul: Sert à obtenir une estimation approximative aux fins de la planification initiale

2- Rapport d'estimation: Idéal pour les négociations préalables, la planification successorale et les situations qui comportent des enjeux importants, mais soumis à des limitations budgétaires

3- Rapport exhaustif/d'opinion: Approprié dans les situations qui présentent des risques élevés ou des enjeux importants ou lorsqu'il y a des poursuites judiciaires

Pour préparer son rapport, l'évaluateur procède à un examen des faits et des données financières historiques, après quoi il fait les ajustements nécessaires pour tenir compte des circonstances spéciales. Il formule ensuite une conclusion en clarifiant les incidences de son évaluation sur la valeur estimée. L'évaluateur émet en outre une réserve liée à l'étendue du mandat, qui varie en fonction de la qualité du rapport fourni.

Travaux requis

Pour fournir un rapport de calcul, l'évaluateur examine et analyse l'information financière et peut avoir des rencontres avec la direction.

Le rapport d'estimation suit la même démarche, mais est plus exhaustif. L'évaluateur calcule les bénéfices «normalisés» en ajustant les dépenses et les revenus exceptionnels et non récurrents tirés des états financiers historiques. Ceci peut comprendre les salaires et les primes de la direction, lesquels peuvent être inférieurs ou supérieurs à la valeur marchande, laquelle sera ensuite ajustée pour refléter les normes actuelles du marché.

Dans le rapport exhaustif, l'évaluateur émet une opinion. Ce rapport fournit une analyse plus approfondie de l'entreprise et passe en revue les éléments suivants:

- Brevets, règlements et conventions d'actionnaires

- Contextes économique et sectoriel de l'entreprise

- Conjoncture du marché et concurrence

- Clientèle et contrats, carnet de commandes

- Contrats et engagements avec les fournisseurs

- Visite des installations de l'entreprise

- Données financières et prospectives

- Justification du choix des taux d'actualisation et de capitalisation selon des modèles financiers reconnus

Principes d'évaluation fondamentaux

La première étape dans la démarche d'établissement d'un prix consiste à fixer la juste valeur marchande de l'entreprise. Les trois grands principes d'évaluation sont les suivants:

-La valeur est tributaire des attentes
-La valeur est tributaire des flux de trésorerie futurs
-La valeur dépend des immobilisations matérielles

Méthodes et techniques d'évaluation

Il existe deux méthodes de base pour déterminer la valeur d'une entreprise:


Valeur de l'actif

- Valeur comptable: Valeur nette de l'entreprise, obtenue en soustrayant le passif de l'actif. Les valeurs reposent sur les états financiers; toutefois, les biens immeubles sont habituellement ajustés pour refléter la valeur marchande courante

- Valeur de liquidation: Suppose que l'entreprise procède à la vente de tous ses actifs et qu'elle rembourse toutes ses dettes. L'excédent représente la valeur de l'entreprise

Bénéfices et flux de trésorerie

- Actualisation des flux de trésorerie: Valeur fondée sur la valeur actualisée des flux de trésorerie futurs d'une entreprise

- Valeur d'exploitation: Suppose que l'entreprise poursuivra le cours normal de ses activités. Cette valeur est calculée en multipliant les bénéfices prévus par un multiple des bénéfices pour arriver à la valeur des bénéfices capitalisés

Les techniques les plus couramment utilisées pour calculer la valeur d'une entreprise comprennent notamment:

La capitalisation du bénéfice net représentatif

Une valeur peut être attribuée aux bénéfices futurs provenant de l'acquisition. Pour obtenir la valeur d'exploitation, un multiple de capitalisation est appliqué aux bénéfices de l'entreprise et aux éléments d'actif hors exploitation à la valeur marchande courante

La capitalisation du flux monétaire représentatif

Identique à la technique ci‑dessus, sauf que ce sont les flux de trésorerie qui sont capitalisés plutôt que les bénéfices

L'actualisation des flux monétaires prévisibles

Consiste à déterminer les flux monétaires futurs les plus probables et à trouver la valeur actuelle en les actualisant à la date de l'évaluation

La détermination de l'actif net redressé

Repose sur le calcul de la juste valeur marchande de l'actif, moins tous les éléments de passif. Elle s'applique aux entreprises qui ont des biens immeubles considérables inscrits dans leur bilan ou dont la valeur tient à leur actif plutôt qu'à leur exploitation
Pour plus d'information, consultez le guide Étapes vers le capital de croissance offert sur le site web d'Entreprises Canada.

Autres règles
Dans certains secteurs de l'industrie des services, la valeur d'une entreprise est évaluée selon un multiple des recettes. Par exemple, un bureau de courtier d'assurances vaut de 1 à 1,5 fois les commissions touchées pour une période déterminée par négociation.

Au bout du compte, ce qui détermine les conditions d'achat et le prix final, ce sont les négociations entre vous et le vendeur.

Low-cost ways to motivate your employees

from BDC.ca


In a Canadian labour market with shrinking resources, many young people today are in an enviable position when it comes to choosing an employer. They can afford to be highly selective and tend not to stay with companies for the long haul.

Meeting the demands of this new generation of employees is now at the top of the agenda for businesses. You'll have to motivate employees to stay loyal to your firm with more satisfying jobs, ongoing training and anything else that makes you stand out from your competitors.

Yet despite the popular belief that wooing employees is a costly venture for businesses, the reality is that employee motivation can involve little or no cost.

Make the job motivating

Pressed for time, few entrepreneurs prepare written job descriptions. However, experts agree that improvising is not a winning strategy. The more accurate and realistic you are about specifications and job requirements for the position, the more likely that your people will feel motivated to do a good job. It's important to:

-Get your employees involved in writing their job descriptions, so they feel they have genuine input

-Put the emphasis on active, engaging verbs such as "analyzes", "sets up" or "operates"

-Build in clear goals, so employees can see visible progress and results and how they can contribute to the big picture

-Ensure that the work is challenging enough for the employee: don't hire somebody with too many skills for the job

-Give your employees enough leeway to be independent and assume stretch assignments, which encourages personal and professional development
Compensate your employees based on their performance

Give employees feedback

Feedback allows your employees to evolve, improve their skills and do more for your company. And that's why it's important to assess your employees' performance regularly and fairly. For starters, make sure they understand why performance feedback is necessary. Frank discussions will help obtain the best possible results, it's important to show empathy and flexibility.

-Be open to suggestions that could improve the efficiency of your company's operations. Ensure that you:

-Be systematic about performance evaluation for every employee, no matter what level in your company

-Link the performance evaluation to your compensation program so employees take it seriously

-Give honest feedback often - both praise and constructive comments
First, review positive aspects; then, cover areas for improvement; help employees find and implement solutions

-Encourage your employees to evaluate themselves; this gives you an accurate picture of how they view their performance and it can also reveal where improvement is needed

-Establish realistic performance objectives for your employees and make sure they understand and agree

-Rely on simple, ongoing feedback techniques, such as:

-Personal congratulations for a job well-done
-Personal notes from managers to mark a good performance
-Recognizing employee performance and promotions in internal
newsletters
-Showing your team confidence, so that they feel motivated to give
more

Manage your top performers

Your star performers may be a little more demanding than your average performers. They tend to leave companies if they feel they're not getting enough attention. Factor these points in:

-Give your top performers some leeway. Avoid micromanaging and give them the room to do their best

-Get their input often. If you don't seek their ideas, they'll stop giving them to you

-Reward excellent performance with extra perks

-Point out where they need to improve; you want to encourage even your best performers to strive harder

-Praise top performers when they excel. Don't assume that they know they're doing a good job

Give employees innovative perks

In today's demanding business world, many employees are looking for perks beyond monetary compensation, stock options and profit-sharing.

-Consider options such as flexible hours

-Give employees "downtime" for work well done. Employees tend to want perks such as more time-off rather than more money

-Allow employees to work from home

Reinforce team spirit

Motivated employees, who all sing from the same song sheet, contribute their best. Keep these ideas in mind in order to reinforce team spirit.

-Encourage people to interact outside the office environment, i.e., dinners or sports events

-Put employees at ease by holding informal gatherings at your home

-Assign a buddy for new employees to help them during orientation

-Avoid creating hierarchy by assigning perks such as more office space and free parking

Ultimately, your employee motivation strategies can be built into a sound human resources plan. To help you develop that plan, you can contact me.

Living with a strong dollar

from www.BDC.CA

The rise of the Canadian dollar has had a serious impact on businesses exporting to the U.S. and international markets. Faced with reduced returns from U.S. sales, entrepreneurs may wonder how to protect themselves from the effects of further currency fluctuations.

In a nutshell, the way to reduce the risks involved with exporting is to be prepared for change. Success in exporting begins with developing a sound export plan, setting your prices wisely, improving overall productivity and taking advantage of various tools to manage exchange risk.

Have a solid export plan
No matter what the value of the dollar is, you should have a thorough exporting strategy in place to export profitably. Developing or updating your export plan can help you better understand your markets and your competition, and determine exactly what your goals are and how you will reach them.

Here are some questions that may help you deal with currency fluctuations:
1. Is there another market for your products? Exploring new markets where your product is more competitive can be a sound strategy to compensate for a volatile Canadian dollar.

2. Can you consolidate local markets? Are your products available nationally? You may want to consider all provinces in Canada.

3. Can you change or update your line of products to be more competitive in the export market? You may be able to add a product or to customize the sales and marketing of an existing product to appeal to a new market or demographic. Diversifying your products may help you gain more stability.


Price wisely

Your export plan can also help you price your products wisely. To protect yourself from current fluctuations, adopt a strategy that takes exchange rates into account. While your export prices must take into account the demands of the market, they should also be forward-looking. In general, export prices should be based on your cost of goods as well as costs related to tariffs, custom fees, value-added taxes, shipping and insurance. For these costs, you will also need to factor in variations in the value of the dollar.

Keep in mind that if you're pricing higher, this may be a disadvantage if you want to be competitive. However, a sound strategy to reduce operating costs can help keep your prices down. That's why maximizing your productivity is so important.

Improve your overall productivity

Working more efficiently translates into cutting costs or increasing your revenues, which can give you the competitive edge you need to gain a greater market share. This can include:

• Reviewing your production processes to see if each step helps create value for your clients and meets your goals

• Eliminating waste, including delays at customs, unnecessary transportation in your distribution process, defects and errors, etc.

• Outsourcing non-core aspects of your business to countries or firms that can do the work more efficiently and more cheaply. This can include having components manufactured abroad, or having an external firm handle logistics, customs, distribution, etc.

After you have analysed your opportunities, decide on a course of action. To keep your costs down, you can implement one project at a time. For example, if you're expanding to new markets and you need new equipment to remain competitive, you can begin by renting, and make plans to purchase upgraded equipment later.

Use exchange-risk management strategies

Foreign-exchange risk management tools (or hedging tools) can also help protect you from dollar fluctuations that can affect your earnings and value. Keep in mind, exchange contracts such as futures and options are complex products and you should talk to your banker and accountant about the most commonly used strategies for managing foreign-exchange risk. While there will always be some related costs to using hedging tools, these strategies can help you protect your profit margin. The following may help reduce your risks:

• Currency forward contracts allow you to lock a price at which your company is obligated to buy or sell a currency at your specified date. Forwards are non-transferable and not as flexible. You'll also need a line of credit for currency transactions. This will allow you to protect your revenues, profit margins or expenses at a fixed price.

• Currency futures contracts allow you to specify a price at which a given currency will be bought or sold at a future date. Your company can close out these contracts early if it's to your advantage; giving you more flexibility. You will also need to maintain a margin/cash deposit at all times to compensate for the credit risk.

• Currency options give you the right, but not the obligation, to buy or sell currency at a specified exchange rate during a specific period of time. Regardless of whether or not you exercise the option, there is a cost.

If you are exporting to the U.S., you can also open a U.S. dollar account with your chartered bank, or establish a banking relationship with a U.S.-based bank. This may also make it easier for U.S. based firms to do business with you. There may, however, be tax implications, so it is best to review your options with your accountant or banker.

Get help from external consultants

Consultants who have an objective point of view are in a better position to help you assess the weaknesses and strengths of your export initiative.
Contact me if you are interested in additional informations.

Urgence d'agir équité salariale - Pay equity, urgency to Act Now

Il y a urgence d’agir en
matière d’équité salariale
au Québec


Pay Equity Law in Quebec:
The Urgency to Act Now


Pour toutes les entreprises de 10 employés ou plus, le compte à rebours a commencé. En vertu de la Loi sur l’équité salariale, les employeurs qui comptent au moins 10 employés ont jusqu’au 31 décembre 2010 pour établir l’équité salariale et déterminer quels rajustements à la rémunération sont requis.

Au Québec, 65 844 entreprises sont assujetties à cette loi et on constate que moins de la moitié d’entre elles ont mis en œuvre un programme d’équité salariale. De plus, la Loi dicte des exigences précises sur la façon de déployer et de maintenir un programme d’équité salariale.

Les entreprises qui ne s’y conforment pas pourraient en subir de graves conséquences, dont une possible enquête de la « Commission de l’équité salariale », des amendes, des pénalités et même, devoir payer des rajustements rétroactifs.

Pour mettre en œuvre un programme d’équité salariale, vous devez d’abord déterminer toutes les catégories d’emploi au sein de votre entreprise, comme les catégories d’emploi à prédominance féminine et les catégories d’emploi à prédominance masculine, afin de les comparer et de redresser les écarts de rémunération.

Il est essentiel de bien déterminer la représentation des deux sexes pour chaque catégorie d'emploi, conformément aux critères définis dans le paragraphe 55 de la Loi.

Si vous n’avez pas encore mis en place un programme d’équité salariale et que vous avez besoin d’assistance pour le faire, la Banque de développement du Canada (BDC) dispose d’un réseau de consultants qui peuvent vous aider. Je serais heureux de vous conseiller en fonction de votre situation particulière. N’hésitez pas à me contacter.
__________________________________________________________________________

For all companies that have 10 employees or more, the countdown has started. Under the Pay Equity Act, employers with 10 or more employees have until December 31, 2010 to achieve pay equity and determine what adjustments in compensation are required.

In the province of Quebec, a total of 65,844 companies are subject to this law and it has been reported that fewer than half have implemented a pay equity plan. Furthermore, the law dictates specific requirements as to how to implement and maintain a pay equity program.

Failing to do so can lead to serious consequences, including a potential inquiry by the Commission de l’équité salariale, fines and penalties, and imposed retroactive pay adjustments.

When implementing pay equity you must first identify all the job classes within your business, such as predominantly female and predominantly male job classes, in order to compare them and then redress differences in compensation.


It is critical that you ensure that the gender representation for each class has been determined properly, in compliance with the criteria set forth under section 55 of the Act.

If you have not already implemented a pay equity program and require some assistance to do so, the Business Development Bank of Canada (BDC) has a network of consultants who can help you.

why you should pull together an effective business plan

from BDC.ca

If your business is all in your head, it's hard to convince lenders, investors and shareholders that you have a credible company and that you'll use their funding well. And that's precisely where a business plan comes in. This highly recognized management tool is basically a written document that describes who you are, what you plan to achieve, how you plan to overcome the risks involved and provide the returns anticipated. Often people think of business plans are limited to starting up new companies or applying for business loans. However, they are also essential to running a business with a clear, well-documented plan.

Make it thorough but keep it simple
Many entrepreneurs may see putting a business plan together as a daunting task involving hundreds of pages. However, in reality, it should be a concise and structured document that gives readers everything they need to assess your company's project. There's no one guaranteed formula for writing an effective business plan. However, in general you have to show that you're committed to your venture and that you have the expertise, skills and self-confidence necessary to make it all happen.

Here's the core content that you should consider.

Your business proposal. Include a description of exactly what you're proposing. Ask yourself: who your customer is, what business are you in exactly, what do you sell, and what are your plans for growth?

Your unique selling point. Address how your goods or services will appeal to customers. How will your company or product/service make a difference in the lives of your customers?

Market analysis. Make sure you show your lender that you've done your homework. Basically, your market research helps you understand your customer needs so that you can offer a product or service that precisely fits those needs. You'll need to provide information such as your target market, customer demographics, competition and distribution methods.

Key competitive information. Provide information on competitor weaknesses and strengths and show how you intend to improve on what they're doing.

Organizational structure. Use organization charts to clearly spell out the roles of key management people and the proposed size of your organization.

HR requirements. You should include information on how you plan to recruit and maintain your employees or handle outsourced work.

Premises and capital goods. Do an assessment of the company's needs with regard to premises and capital goods (such as machinery, technological equipment).

Key financial data. Be sure to modify your information depending on your target audience. For example, your bank will be interested in how you intend to repay the loan or overdraft, what you intend to do with the money and how it will help your business grow. Potential investors will also want to see the expected return and sources of funding, while shareholders are looking for the prospect of the share price and what dividend they can expect on their shares. Generally, lenders, shareholders and investors want facts and figures that back up what you say.

Show your personal and business net worth (assets minus liabilities) so the lender can judge your ability to repay your debt
A banker will also look at your past credit history to gauge your reliability. Be sure that you know what credit agencies have on file about you or your company
Include your assets, such as collateral to secure a loan. Bankers invariably ask for some investment on your part as proof of commitment. (This investment may have been raised by you privately or through family and friends). The rule of thumb is that money attracts money; the more backers you have, the easier it is to attract new ones
Be sure you include your cash flow forecast, which is the amount of cash needed to run your business: technology, inventory, equipment, human resources, etc.
Present financial projections for at least 2 years and do an analysis of market size and market potential
Show implementation details or exactly what will make all of this happen. You need to assign clear responsibilities, set real dates and realistic budgets. Include your financial control systems, such as stock planning and managing debtors and creditors
Legal structure. Address issues such as taxes, liability concerns, information on proprietorships, partnerships, limited or incorporated companies. If you're buying an existing business, be sure to clarify buy-and-sell agreements. Keep in mind that you should have a lawyer look over all contracts and legal issues.

An executive summary. It helps to write this last; a page or two of highlights is sufficient. Be sure to clarify whether this is a new business venture, an expansion of an existing business or the purchase of a new business.

You should also include:

The type of business activity
Your unique selling point
The market to be served
The main objectives of your company
Management background
Project timeframes involved

Avoid these pitfalls
Being overly ambitious – you should be able to justify any assumptions or projections
Masking financial difficulties: inform your lender if your sales fluctuate, for example, and you may prefer a flexible payment schedule. A transparent business plan is one of your best assets in gaining the trust of bankers and investors, whether they are your associates or people outside the company
Providing inadequate information on the management team, flawed marketing plans, unrealistic forecasts or incomplete presentations

BDC Business plan templates let you prepare a professional business plan - a necessity when seeking financing for your project.http://www.bdc.ca/en/business_tools/business_plan/default.htm

A 5-step, no-nonsense marketing plan

The following article from BDC (business Developpment Bank of Canada)is right on.

A 5-step, no-nonsense marketing plan


Doing business without a marketing plan is like driving without a map. You may get to your destination – eventually – but you risk making time-consuming and costly errors along the way. For example, you might be assuming there's demand for your product when there isn't. Your services might be priced too low. Or you could be venturing into a market that is impenetrable because of regulatory restrictions.
Marketing plan = confidence

The only way to start a business venture with confidence is to develop a good marketing plan backed up with facts and research. It's a document that clearly shows how you'll attract potential customers to your product or service and persuade them to buy. As part of doing your homework thoroughly, the marketing plan builds confidence with financial institutions by showing you have a good chance of making a success of your business.

Contrary to popular belief, the marketing plan is not a one-time effort destined to sit in a binder on your desk. On the contrary, it should be updated on a regular basis to reflect the changing needs of your business and customers.

There are many different models for marketing plans. But here are the
5 essential steps.

5 steps to creating a successful marketing plan

1. Do a situation analysis

Many companies start with a SWOT analysis, looking at your company's strengths, weaknesses, opportunities and threats. An integral part of this is to clearly identify your competitors, understand exactly how they're operating and know their strengths and weaknesses.

Strengths are any competitive advantage, skill, expertise, proficiency, talent, or factor that strengthens your company's position in the marketplace and can't be easily copied. Examples are a well-trained sales team, low staff turnover, high consumer retention or low production costs due to technology.

Weaknesses are the factors that affect your company's ability to independently achieve its objectives. Examples are unreliable delivery, outdated production tools, insufficient marketing efforts or a lack of planning.

Opportunities are ways for your business to grow and be more profitable, such as seeking new markets, managing technological changes or addressing new consumer trends. You need to look at how your company's key skills can be used to take advantage of these opportunities.

Threats are barriers to entry in your primary markets, such as competitor's actions, labour shortage, legislative hurdles, or detrimental economic/political developments.

2. Develop a target market profile

Demographic portrait
Here you want to demonstrate you know your customers inside and out, including their expectations and their whims. Your profile should include basic demographics that paint a clear portrait of your clients. For example, you can look at factors such as age, sex, profession or career, income level, educational level and geographic location.

Estimated demand
You'll want to provide research that shows the estimated demand for your product or service and expected growth rate. This builds confidence with financial institutions that your business has growth potential.

Purchase motivation
Another important aspect is understanding exactly what motivates customers to buy. For example are your clients looking for savings, a way to simplify their lives or just shopping for pleasure? Ask yourself, why would they buy your product or service? In the same vein, you may want to know what keeps customers away from your competitors' products or services. Are they too costly? Do they lack something unique? This information is invaluable in developing a product or service that outshines the competition.

3. Set clear marketing objectives and targets

Here you describe the desired outcome of your market plan with attainable and realistic objectives, targets and a clear time frame.

The most common approach is to use marketing metrics. For example, your market objectives could look at total market share and segments, the total number of customers and percentage retained, the rate of purchases and the size/volume of purchases.

4. Determine your marketing strategy

Once you've determined your objectives and targets, it's time to look at how you'll promote or market your business to prospective customers. Typical strategies should cover the Four Ps of marketing. (Product, Price, Place and Promotion).

Your choice of marketing vehicles will be governed by your target market profile. For example, you need to understand how different vehicles reach different audiences. Don't make assumptions that you have to spend money on costly advertising. If you have a niche audience, for example, you can take advantage of low-cost marketing strategies such as e-mailing.

Generally speaking, the most costly options are advertising, sales promotions and public relations
Referrals and networking represent lower cost ways to reach customers
E-marketing is a powerful strategy because of its low-cost and targeted reach potential.

5. Do your financials

A marketing plan without financials has little clout. Your financials can also be included in your general business plan.

Important aspects to include here are:

A budget and forecast
A budget and sales forecast needn't be complex. In fact, it's wise to keep it simple. It may help to start with these basic questions:

How much do you project that you will sell?
What will you be charging for your products or services?
What will it cost to produce your products or deliver services?
What will be your basic operating expenses? Be sure to include recruitment and salaries here
How much financing do you need to run your business?
Answering these questions will help you determine your projected income and your expenses

A break-even analysis lets you show exactly what you need to sell to cover the costs of doing business. If you can attain and surpass your break-even point and easily bring in more than the amount of sales revenue you'll need to meet your expenses, you stand a good chance of making profits.

The catastrophic event in Haiti is another reminder of the importance of having a business emergency plan

How would your business cope if a third of your employees couldn't come to work because of a pandemic flu? What if your local electricity or transport services were down for a week? Or if your main supplier was in an area affected by floods and could not deliver critical supplies?

The Canadian Centre for Emergency Preparedness estimates that up to 86% of small and medium-sized businesses fail to recover in the 3 years following an emergency.

Being prepared is critical for any business. Catastrophic events such as those of September 11, 2001, Hurricane Katrina and the earthquake in Haiti, have shown us that major emergencies can happen and that they have a significant impact on business. In canada we also had our share of disruptive events: Power Outage, SARS, several hurricane, Ice storms, floods etc. And it will happen again.

Creating a business continuity plan (BCP) can help your business survive during and after a crisis

What types of emergency can affect your business?

For a business, an emergency situation is one that causes it to stop or alter its day-to-day activities. In Canada, this can include:

•Natural disasters: Different regions of Canada can be affected by a variety of cataclysms, including blizzards, hurricanes, forest fires, floods and earthquakes. You should be aware of what natural phenomena can strike your area.
•Pandemic flu: This is a major outbreak of a rapidly spreading and contagious strain of influenza. A pandemic would mainly affect businesses through high employee absenteeism: up to 50% of employees could be unable to work. Unlike other types of emergencies, the effect of a pandemic will be worldwide rather than regionalEnvironmental accidents: Includes the effects of pollution, spills of hazardous materials, etc.
•Power outages and critical systems failures: Includes breakdowns and stoppages in the communications, transportation or health sectors.
•Accidents, sabotage, terrorist strike
•Cyber attacks

Emergencies have an impact on your business because they affect:
•People: One of the greatest impacts of an emergency is on human resources. During a crisis such as a pandemic, your employees and partners may be unable to get to work.
•Infrastructure: Any impact on the transportation system could make it impossible for employees to come to work, and keep you from making deliveries or receiving needed materials. If the communications or electricity infrastructures are affected, it may be difficult for you to continue your day-to-day operations.
•Computers: Your data and your ability to work can be jeopardized if your computer systems are damaged or if your technical support staff are absent from work.
•Suppliers and clients: If key business partners, located in another part of the world, are affected by an emergency, this can have a significant impact on your business.
How to prepare for an emergency
While we can't eliminate the potential of an emergency occurring, we can reduce its impact by being prepared. In an emergency, you may not have time to make the arrangements necessary to:
•Protect your employees
•Minimize damage to your site
•Minimize business impacts

Planning is the key to being prepared. You should prepare a plan of what to do during the emergency, to protect your employees and worksite, and to maintain as many of your operations as possible.

Crisis preparedness
Ensuring the safety of employees, your site and equipment during an emergency requires planning that is specific to the type of emergencies that can occur in your area. This may include plans for:
• Evacuating employees
• Creating a shelter in the workplace
• Providing first aid or medical attention
• Having emergency supplies on hand. Basic emergency supplies can consist of a transistor radio, flashlight with extra batteries, tools, first aid kit, food, water and blankets, and a power generator.
The Canadian Red Cross offers guidelines on how businesses can prepare for the physical impacts of an emergency.

Ensuring the survival of your business
The aim of business continuity planning is to help you continue to deliver critical services or products to your clients during the emergency, instead of focusing on restarting business operations after the emergency has passed.

BDC offers all businesses a detailed business continuity plan to help them prepare for an emergency. The 8 key steps are:
1. Establish an emergency preparedness team
2. Identify essential services and functions
3. Identify required skill sets and staff reallocation
4. Identify potential issues
5. Prepare a plan for each essential service and function
6. Compare with Capital Health's "Preparedness Checklist"
7. Review the plan with the team
8. Revise, test and update the plan
Getting outside assistance
Creating a business continuity plan is an essential part of a business' overall strategic plan. An external consultant, can give you the guidance you need to ensure that that your business continuity plan is thorough and realistic.

Top 7 decision-making tips for managers

from bdc.ca

When you manage a business, you are constantly making decisions - often under pressure. How do you make the best possible decisions, knowing they will have an impact on your company's future?

There are strategies you can use to avoid common pitfalls and hone your decision-making skills. Making better, faster decisions will help you take advantage of business opportunities and avoid pitfalls.

1. Reframe the problem
Backing up is sometimes the best way to move forward. When you are presented with a problem, step back and think about its full context. Try to see the issue from as many perspectives as possible. That will help ensure you are not emphasizing one aspect and neglecting others.

Begin by trying to think of at least 3 different ways of looking at the problem.

2. Make evidence-based decisions
The aim of evidence-based management (EBM) is to use scientific evidence when making decisions, rather than simply trusting one's instincts. Like most people, you probably tend to use your judgement and to base your decisions on what is familiar. But experiences that you have had at other companies or in different circumstances may not apply to the situation at hand.

There are simple steps you can take to incorporate evidence into your decision making.

Use performance data to support your decisions. Get the most current and complete data possible.
Challenge your gut feelings. Is there any objective evidence to support them?
When a course of action is suggested, find out what it's based on and whether it's supported by data.
Determine whether commonly used business strategies have worked in a situation like yours. Will they apply to your particular case?
Check that the business data you come across are current and objective.

3. Challenge the status quo
People tend to choose the status quo over change, to stay in their comfort zone. But being comfortable with an approach may not be enough to justify it. Question whether you would choose a course of action if you weren't already following it. Examine your options as realistically as possible. Don't overstate the cost or the effort involved in making a change.

For example, if you were starting over, would you use the same marketing tactics to attract customers? Would you attend the same trade shows? Would you emphasize web-based marketing, direct mail or a mix? Don't forget to find supporting data that will help you review your choices objectively.

4. Get an outside perspective...but trust yourself
Make it a habit to ask others for information and opinions. Be open-minded. Get a wide range of views, so you can see an issue from as many perspectives as possible.

Employee opinions count
Find ways to encourage information sharing in your company. Be open to plain talk and foster an atmosphere where people can be direct, even when the truth is unpleasant. Using performance evaluations is one way to encourage these values.

Deal with problems
If you want to consult others about a problem, be sure to consider it carefully from as many angles as possible before talking to them. That way, you will avoid being limited by their interpretations and ideas. Frame the problem in as many ways as you can, and then seek out others to see whether they can add to your understanding of the issue.

5. Develop an eye for risk
It's possible to train yourself to look for all types of risks. Whenever you make a decision, ask yourself: If I make the wrong decision, how will I know it?

For example, if you are considering changing your transportation carrier to cut costs, think about how you would determine that you'd made the wrong decision.

Your service department would report more customer complaints about delayed orders.
You wouldn't see cost savings at the end of the quarter.
Administration staff would complain of poor service from the new supplier.
The carrier could go out of business, leaving you to find a new supplier.
This type of exercise can help you see the potential pitfalls of a decision and take steps to avoid them.

Even a generally good plan will have costs and potential problems. Ask for information on how the plan could go wrong. Play the devil's advocate. Examine all the evidence, both bad and good. Don't underestimate the costs and effort required.

6. Let go of past mistakes
People have a tendency to make choices that justify past experiences, even when a previous decision has not worked out as well as they'd planned. We also tend to spend time and money fixing past problems, when it would be more useful to acknowledge the mistake and move on.

Making sound decisions means taking into account the evidence that is available at the time. Sometimes the context changes and that decision is no longer valid. Recognize that you made the best decision possible under the circumstances, and then review the situation to see whether a different decision is now called for.

In your company, take time to recognize employees who make good decisions based on sound evidence. Don't focus exclusively on outcomes, as that approach can encourage employees to perpetuate mistakes by continuing to try to fix them.

7. Be honest with yourself
Before gathering evidence to make a decision, take time to review your own motivations. Is your mind already made up? Are you really gathering evidence objectively, or are you simply looking to confirm an existing idea?

Being aware of your own motivations can help you remain objective and focus on finding the best possible solution for your business.

Be decisive
Briskly proceed through the 7 previous steps and then make a decision

How your company can work smarter

(reproduction of an article found on BDC.ca)

Technological advancement, globalization and customer expectations have increased the need for higher productivity within a business. For example, Canadian entrepreneurs are now competing with companies in countries such as China and India which produce products at lower costs.

In a formal sense, productivity refers to how well an organization converts input (such as people, materials, machines, skills and capital) into goods and services or output. But today, it is no longer limited to measuring ratios of inputs and outputs. Basically, increasing productivity just means working smarter. You can look for opportunities to improve efficiency just about anywhere in your company. Here are some key areas to consider:

Choosing the right equipment can help you reduce the risk of costly errors and improve the way you do business. Before you buy any equipment, be sure you are thoroughly familiar with the current and future needs of your business. Ask yourself:

Is the current equipment giving you good results?
Do you need to replace several pieces of equipment with more efficient machinery?
Can the equipment you are replacing be used somewhere else within your company?
Will this acquisition be a long-term investment?
Would it be better to rent equipment?
Will you use all the features or are they simply gadgets?
Have you considered costs of training employees on new equipment?
Buying more efficient equipment can also help you improve your production line. BDC Consulting can help you analyze your space and resources, improve your plant layout and eliminate processes that add no value.

Use technology to improve your operations.
Web-based technologies enable you to dramatically improve how you run your business. You're a good candidate if you're looking to increase market share, to aggressively pursue cost reductions or improved efficiencies, and to prevent customer service problems. Production management tools range from spread sheets (probably the most common) to off-the-shelf software solutions or business specific custom-developed applications. Here are some examples:

e-purchasing (online buying) is an alternative vehicle you can use to get your materials from suppliers. This technology enables you to get more competitive pricing as you are no longer limited to local merchants. Generally, the cost of transaction processing is reduced and there is less time invested in paperwork.
Smart inventory control systems can help you reduce inventory levels, improve profitability and speed up responses to customers. Online and order management systems integrate inventory information with your organization's purchasing, accounting and e-business systems. This means you can easily track order status and the movement of inventory within your company. You will also be able to identify peak and low periods, allowing you to make adjustments to your supply purchases and better manage your working capital.
It also helps to keep abreast of technological developments and ensure that your business is taking advantage of the latest innovations to improve productivity. You can use the Web or attend trade shows to stay on top of new technology. Trade shows are a great resource as software vendors often make their information available to attendees. You can also network with other organizations in your industry who may have already tried and tested new innovations. Finding out what your competitors are doing can narrow your search down for solutions that are specific to your industry. A BDC Consulting can help you establish selection criteria and identify potential software suppliers.

Review your existing set-up.
Look at your processes from the point of view of an investor; keep in mind the overall objective and vision of the business and ensure the processes meet those goals and add value for the client. Draw an accurate map of each process in your material and information flow. By doing this, you can improve interconnections and better understand the links between various elements of your production. As well, you will be better equipped to identify and eliminate waste throughout your company.

Implement a continuous improvement approach.
Improving productivity is an ongoing activity that evolves constantly. Here are some suggestions to setting up a continuous improvement plan:

You can start by assessing the competition and best practices in your industry, also known as benchmarking. However, don't copy plans of other businesses - develop one that works for your company.
Get external help to assess your business weaknesses and strengths. This gives you an objective viewpoint on where you can improve productivity and redesign processes.
Take a step-by-step approach rather than tackle everything at once. Focusing on a few priorities will enable you to see results faster.
Assign specific teams to specific problems or processes for redesign.
Put a formal suggestion system in place for employees.
Look for breakthrough accomplishments. Small improvements can transform into major increases in productivity.
Measure your results. Ideally, this should involve an outside party for objectivity.

Outsourcing can be a cost-effective way to focus your efforts on what you do best as a business and make productivity gains. But whether you choose to outsource logistics, accounting, payroll, public relations or IT, it's vital to first grasp what drives costs and profits in your company. Before you get started, it's important to assess your current production and costs such as location, shipment and client proximity. You need to know exactly which core functions increase revenues and which non-core functions increase your expenses and affect your productivity.

Many entrepreneurs don't tap into outsourcing opportunities because they fear they might lose control of their business or are concerned about expenses. And although these may be valid concerns, you can make outsourcing work if you take the right steps. BDC Consulting could provide you some direction in determining your best outsourcing strategy.

Strategic alliances allow you to grow your organization without necessarily expanding its size and incurring more costs. For example, the right alliance could improve your production processes by increasing your economies and scale and broadening your distribution market. An alliance could help your company negotiate better supply deals, share costs such as advertising and take advantage of costly technology. Increasing your productivity could also mean getting into new markets with new products and services, extending your market reach or accelerating research and development by sharing costs and resources.

10 conseils pour les leaders qui veulent gérer leur stress

(extrait d'un article publié sur BDC.ca)

Beaucoup d'entrepreneurs canadiens sont de plus en plus stressés depuis le début de la récession.

Dans un récent sondage de BDC, 61 % d'entre eux ont évalué à 7 sur 10 leur niveau de stress ressenti, ce qui est nettement plus élevé que l'an dernier.

Les entrepreneurs qui ont répondu au sondage dans le cadre du panel en ligne de BDC appelé Points de vue ont attribué leur stress a une série de facteurs, notamment:
Composer avec l'insécurité financière (71 %)
Gérer la pression associée au développement de l'entreprise (52 %)
Être la seule personne responsable de l'entreprise (51 %)
Passer de nombreuses heures au travail (38 %)
Michael Campbell, chercheur au Center for Creative Leadership (CCL), explique que les gens font déjà un pas important dans la gestion du stress et la réduction de ses effets néfastes en prenant conscience de ce qu'ils ressentent. Une fois qu'ils ont compris la cause du problème, ils sont mieux en mesure de bien le gérer. Le CCL est un centre de formation des cadres mondial sans but lucratif.

Voici 10 stratégies de gestion du stress que les experts recommandent aux entrepreneurs:

1. Soyez à l'affût des manifestations physiques du stress (la transpiration et l'augmentation du rythme cardiaque, par exemple). Il est important de reconnaître ces signaux d'alarme et de réussir à les soulager. De simples exercices de respiration profonde peuvent suffire.

2. Regardez les choses en face. Plutôt que de fuir le problème, demandez-vous ce qui provoque chez vous une réaction de stress et trouvez le moyen de reprendre le dessus. Mettez immédiatement le doigt sur la cause – que ce soit le récent appel d'un client insatisfait ou une décision d'affaires difficile à prendre.

3. Faites une pause chaque fois que c'est nécessaire. Lorsque vous sentez le stress monter, faites autre chose; par exemple, levez-vous pour marcher un peu ou sortez du bureau pour aller dehors. Ces quelques minutes vous aideront peut-être à envisager la situation autrement. Elles feront au moins diminuer votre malaise dans l'immédiat.

4. Adoptez un mode de vie sain. L'exercice physique soutenu peut vous aider à réduire le stress si vous en faites au moins trois fois par semaine à raison d'une demi-heure. Vous aurez aussi plus d'énergie et composerez mieux avec le stress si vous mangez bien et augmentez, par exemple, votre consommation de fruits et de légumes.

5. Visez un équilibre judicieux entre travail et vie personnelle. Bien que le milieu des affaires soit extrêmement exigeant, il est essentiel de consacrer du temps à d'autres activités que le travail (sorties en famille, sports et autres passe-temps). C'est ce qui vous permet de refaire le plein.

6. Modérez votre perfectionnisme. Vous pouvez offrir des produits et des services de qualité sans vous laisser envahir par le souci de la perfection. Sachez quand lâcher prise et employez-vous à faire de votre mieux dans le monde concurrentiel où vous évoluez.

7. Déléguez pour alléger votre charge de travail. Vous ne pouvez pas tout régler vous-même. Aussi bien l'accepter. Au lieu de gérer chaque dossier dans ses moindres détails, faites donc l'effort de confier des responsabilités à vos employés pour les laisser ensuite travailler de façon autonome. Si chacun met la main à la pâte, vous vous sentirez peut-être moins stressé.

8. Entourez-vous de bons confidents. En discutant de vos enjeux d'affaires avec d'autres personnes, vous saurez sans doute plus facilement relever les défis auxquels vous faites face. Songez aussi à exploiter un réseau d'acteurs clés de votre secteur, pour découvrir quelles solutions ils apportent à des problèmes similaires.

9. Exercez un meilleur contrôle sur les finances de votre entreprise. La gestion des liquidités est une source d'anxiété majeure pour bien des entrepreneurs. Trouvez donc des moyens de mieux contrôler vos revenus et vos dépenses. Employez-vous aussi à accroître la productivité de façon à améliorer la santé financière de votre entreprise.

10. Faites de vos vacances un véritable engagement. Prenez le temps de vous arrêter pour récupérer, surtout pendant les périodes mouvementées. Par exemple, quand vous êtes en congé, éteignez votre Blackberry. Et s'il peut vous sembler judicieux de reporter vos vacances, dites-vous que les risques à long terme dépassent les avantages immédiats. L'entreprise serait vraiment en péril si vous tombiez malade

The countdown has started for employers with 10+ employees

For all companies that have 10 employees or more the countdown has started. Under the Pay Equity Act, employers with 10 or more employees must achieve pay equity and determine what adjustments in compensation are required.
In the province of Quebec a total of 65 844 companies are subject to this law and it’s being reported that fewer than half have implemented a pay equity plan. Furthermore the law dictates specific requirements to implement and maintain a pay equity program.
Failing to do so can bring serious consequences including an inquiry from the «Commission de l’équité salariale», fines and penalties and imposed retroactive pay adjustments.
When implementing pay equity you must first identify all the job classes, within your enterprise,Such as predominantly female job classes and predominantly male job classes in order to compare them and then redress differences in compensation.
It is critical that you ensure that the gender representation for each class has been determined properly, in compliance with the criteria set forth under section 55 of the ACT.

What are your plans regarding this legal requirements? Are you planning on handling this internally or are you considering hiring a consultant?

Note: The opinion stated here are personal and do not reflect the opinion of my employer nor engage their responsibility in anyway. You can follow my blog at http://agoyette.blogspot.com/

Are you the entrepreneurial type?

Here is a tool to help better measure your entrepreneurial potential. This questionnaire includes 50 statements, and will take about 15 minutes to complete. There are no right or wrong answers. Your honest rating is what counts.

You can choose a number, on a scale of 1 to 4, to represent how strongly you agree with each statement. Use the entire scale as much as possible, as always answering "2" or "3" will not allow you to fully benefit from this tool.

Once completed, your answers will be compiled according to 3 criteria: motivations, aptitudes and attitudes. Your overall score describes your profile compared to other entrepreneurs.

Rest assured that your responses will remain strictly confidential.

http://www.bdc.ca/en/business_tools/entrepreneurial_self-Assessment/Entrepreneurial_self_assessment.htm