August 19, 2024  by

MEDIA: CBC News Network Weekend Business Panel (August, 2024)

Pleased to join the CBC News Network Weekend Business Panel, alongside Elmer Kim and Marianne Dimain talking Canada Jetlines stops flying, growth in Canadian housing starts, and the membership crackdown at Costco.  You can watch our segment here.

This week’s Business Advisor Highlight:

I’ve seen many situations where entrepreneurs and potential business leaders are keen to get their new venture up and running.  Although this type of excitement is understandable, they tend to underestimate the problems that are likely to occur after launch, with some of these being issues that were identified in the planning stage, but not resolved, while others are challenges that might not have been anticipated.  Either way, problems that occur during operations cost “real money”, while those identified in the planning stage occur “on paper”.  This is why it is so critical to delay launch until these issues have been resolved.

Starting a company with insufficient capital is likely to result in strained operations, including cashflow problems and the inability to operate; this does little to raise confidence in the marketplace, something that is of critical importance to new ventures.  It is difficult enough to operate a company during periods of insufficient capital, much less a growing business, as growth requires money for various reasons.  The tip?  Keep the company parked in the planning stage until such time that critical issues are resolved.

Thanks for watching, and see you again soon!

Jenifer Bartman
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