Category Archives: Corporation

Can you take your business all the way?

Well, it’s here. One more game for the Vancouver Canucks and they will be in the Stanley Cup Final. It’s great to see a Canadian team so close to succeeding. I get excited about hockey almost as much as I get excited about seeing business owners succeed. I’ve been running the ActionCOACH Draft for the last few weeks and it’s coming down to the final week or so for entrepreneurs and business owners to decide if they are going for the cup, or are going to end up staying on the bench.

It’s simple really. If you know someone that you think could make a great leader, wants to give back to the community, and is looking for a business challenge, send them our way. Our last two draft selections Kevin Savoy and Mel Ruttan earned a $5,000.00 dollar bonus for signing up and being selected out of over 50 entries. They are starting fresh out of the gate with their new businesses- helping other business owners streamline and fine tune their life’s work.

As the hockey season comes to a close,  the excitement surrounding it is reaching a fever pitch. Tell all your friends about the ActionCOACH Draft– you and your community will be glad you did!

Greg and the ActionCOACH Canada team

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How are you and your business going to take advantage of Friday the 13th?

Did you know that in the U.S $800-900 million dollars are lost on Friday the 13th because people will not fly or do business the way they regularly do?

 Just think of all the opportunities you could be sourcing because people are gripped by an outdated superstition? It’s insane! Forget Black Friday- the stock market crashed happened because it was of our own making. In Spain Tuesday the 13th is their bad luck day and I’m sure in other countries around the world everyday is taken up by some bad luck day. If we were to get sucked into all those urban legends our businesses would cease to exist.

So what are you going to do today- this  Friday 13th ? Get off work early and join the rest of them? Or are you going to take advantage of the fact that you make your own luck and show everyone that you aren’t a follower- you are a leader!

If you are a leader– then you might want to think about clicking this button:  ActionCOACH Draft  We are looking for leaders just like you who aren’t scared of silly superstitions or are going to take a day off just because everyone else does. We have two new coaches who were drafted in our first round- Kevin Savoy of Ottawa and Mel Ruttan of Edmonton- and we are looking for more. Check out what ActionCOACH Canada is all about and join our team before our draft ends!!!

Best of success, Greg K

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Time and Management: Saving a Wage Could Cost You a Fortune!

Is time management a hot topic for you? Whenever I talk to business owners they have two main concerns, making more money and attempting to work less hours in a week.

In other words getting from 80-100 hrs a week to something like 60-70 hrs/wk. As a business owner, the idea of a 40 hr work week or a business that works without me the owner is someone’s idea of a joke.

In one of our surveys we did with business owners we asked the question, How long would your business last if you were not there (eg. You were hit by a bus and in a coma in the hospital). Everyone laughs at the question.

Many times the owner of a small business ends up doing everything. So they end up working IN the business instead of ON the business. So how do we get business owners working hard on smart things insteading of working hard or thinking about how to work smart?

My #1 time management priority everyday in my businessif it doesn’t add money to the bottom line, I don’t work on it.  No money coming in, no point in making a pretty spreadsheet or spending countless hours in a meeting with an undefined purpose.

The The key time management tool for an owner is to figure out what he is worth an hour. That will determine what a business owner should be working on.

For example:

Let’s say your business brings in annual revenue of $750,000. Now you have to figure out what you are worth an hour. Since you are the owner you are the rainmaker, the person who makes things happen. The buck stops with you.

So, if you were working a normal week, and I know you aren’t. Let’s say it’s 40 hrs and you work 49 weeks. Your total hours per year are 49 x 40 = 1,960 hrs. So $750,000/1960 = $383/hr (rounded up).

That means you as the owner is worth $383/hr. So if what you are working on isn’t worth $383/hr; stop it!

Real life example — you are working late each night catching up on paperwork and doing the book keeping and you spend 30% of the week doing it. So that means it is costing you and your business over $18,000/m because you are doing those admin tasks. If you hired someone to do it and pay them $20/hr that means the cost of the person is $960. So if you hired the person and then spent that 30% generating an additional $18,000 less their $960 you are making $17,040. So stop saving a wage it could be costing you a fortune!

To your success and the success of our communities in Canada,

Greg K.

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Can Vancouver take the series? Can your ActionCOACH draft pick succeed?

Vancouver Canucks

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The Playoffs are heating up with Tuesday being the do or die day for the Vancouver Canucks, and the days are getting shorter for you to pick your draft picks for the Fantasy Coach draft pick. 

There is no space for the weak minded when it comes to professional hockey teams and professional business coaches. Business is like sports; without a great coach, the team fails.

One of our Talent Scouts from the Q1 Draft told us why he picked one of his friends to be a coach:

“He has run a very successful business for years and would make a fantastic coach!  His dedication is unparalleled.”

And guess what? That’s exactly what we are looking for.  Go ahead, find out how entering your ActionCOACH Draft Pick is the best move you can make!!

Are you someone who is driven, business savvy, and passionate?  Can you see yourself being a key part of your business community’s success by showing them how to run a commercial profitable business? Learn More

“The first round of picks resulted in many draft picks with 4 prospects bidding for the open 3 spots for that pick.  We are excited to see who will make the cut to become an ActionCOACH Business Coach Franchise Partner this round!”

  -Greg Kopchuk, ActionCOACH Canada Owner and Master Licensee

The ActionCOACH Business Coaching Draft Pick, Learn More

ActionCOACH Business Coach Draft Picks should fit the following basic criteria: 

  •  Men and women who get excited about watching others succeed
  • Men and women who are looking to make a difference in the exciting new frontier of business coaching
  • You have preferably been involved with running or owning a business.
  • Have a positive outlook on selling and realize it is a key factor to business success
  • Men and women who are looking to join an industry that is growing and thriving where they can reach their personal and financial goals.


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How rising Grocery costs will affect Small Business Owners and Solutions for staying in Business

Edmonton,AB- As reported this week by the Wall Street Journal and CTV, the price of food is going up and that could mean trouble for not only the consumer, but the small grocery stores who already struggle against the larger chains. Business expert Greg Kopchuk with ActionCOACH Canada has some solutions for the tough times ahead.

“When grocery costs rise, small business owners panic because they are reluctant to raise prices. They usually know their regular customers better than the average large grocery chain, and because of that they don’t want to pass the cost onto their customer. As a result it eats away at their profits. You wouldn’t believe the amount of local grocery stores that haven’t raised their prices in 5 years or more because of that reason- and that’s why 80% of all businesses close their doors every 10 years,” says Kopchuk, an expert in small business solutions.

Greg has these recommendations for small business owners:

1. Increase prices on some products and do several small increases over time. Also always watch the overheads and look for ways to reduce it. Work on getting customers coming back more often and get them to spend a little more each time. Also work on converting more people who come into the store.

2. Watch your margins and act accordingly. For instance, at a sample 40% margin a 10% increase in your price could sustain a 20% reduction in your sales volume.

3. Do NOT increase prices on the staples (milk, butter, eggs) unless you absolutely have to. Even Safeway had to reduce their prices in 2010 in order to compete with Loblaws.

4)  Make sure your store is spotless. (And by “spotless” I mean “so clean your mother would eat off the floor.”)

5) At the register, make sure customers are within easy reach to profitable add-ons—magazines, candy, chips, pop, knick-knacks, you name it. The higher the profit margin, the closer it should be to your cash register.

6) Keep all the low margin stuff at the very back of your store.

7) Finally, keep an eye on quality, customer care and presentation. If you sell the same quality of apples as the neighborhood Megalomart, why would people make a point of coming to you? If customers have to wait in line just as long, why will they keep coming to you? Finally, like I said—spotless. Your store should be famous for being clean.

Greg Kopchuk heads up ActionCOACH Canada, the #1 business coaching firm in Canada. They work with established and emerging small and medium businesses.They are the winners of the CFA Bronze Award of excellence for non-traditional franchises.

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For information on Greg Kopchuk and ActionCOACH Canada visit: www.actioncoachcanada.ca

To book an interview contact:
Rachel Sentes, publicist
Rachel@gal-fridaypublicity.com
604-366-7846

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Guest Blogger- Padgett Business Services Edmonton

I”d like to welcome Bob Costall and his team at www.padgettedmonton.ca for writing this guest blog for us!

Employment Insurance Benefits for Self-Employed People

Beginning in January 2011, self-employed Canadians will be able to voluntarily access Employment Insurance (EI) special benefits. There are four types of EI special benefits:

· Maternity benefits (15 weeks maximum) available to birth mothers. It covers the periods surrounding birth. A claim can be submitted up to 8 weeks before the expected date of birth;

· Parental / adoptive benefits (35 weeks maximum) available to adoptive or biological parents while they are caring for a newly adopted or newborn child. It may be taken by either parent or shared between them;

· Sickness benefits (15 weeks maximum) which may be paid to a person who cannot work because of injury, sickness, or quarantine; and

· Compassionate care benefits (6 weeks maximum), that may be paid to persons who have to be away from work temporarily to provide support or care to a family member who is gravely ill with a significant risk of death.

You may be eligible to access the EI special benefits beginning in January 2011 if you:

· Are a self-employed person; and

· Are a Canadian citizen or a permanent resident of Canada; and

· Have voluntarily entered into an agreement with the Canada Employment Insurance Commission through Service Canada.

Self-employed Canadians will be required to voluntary opt into the Program at least one year prior to claiming benefits. They will make premium payments beginning in the tax year in which they enrolled in the EI Program. The program had a start date of January 1, 2010. Claims could be made beginning January 1, 2011.

Self-employed individuals need to have earned a minimum of $6,000 in self-employed earnings during the previous year to access the EI special benefits.

Self-employed persons can opt out of the EI Program at the end of any tax year, provided they have never claimed any benefits. If a claim for benefits was made they have to continue to contribute to the EI Program on their self-employed earnings for as long as they are self-employed.

Self-employed Canadians that opt into the EI Program will pay the same EI premium as salaried employees (maximum of $747 in 2010). She or he will not be required to pay the employer’s portion of the EI premiums.

Self-employed residents of Quebec continue to receive maternity and paternal payments under the Quebec Parental Insurance Program. Self-employed Quebec residents could also choose to apply for the federal program mentioned above.

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How is Your Entrepreneurial Sprit?

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During the Olympics there was a great deal of discussion around Canadian pride and spirit. Nowhere is that more evident than in the world of small business. Even in times of economic uncertainty, Canadians are determined to show that they own the business podium on a National and International level.
 In a recent survey that I commissioned, I asked 1000 businesses why they began working for themselves.
Over 40% replied that they ‘Needed to be on their own- not under the thumb of large corporations.’ That’s a pretty good indication to me that Canadian pride in business and spirit is alive and well.

As well, Statscan showed that in the 80’s and 90’s,  over 80% of all businesses closed their doors within 10 years. It is our goal at ActionCOACH to turn this stat around so that 95% of all businesses are still operating after 10 years. 

At the end of World War II Canada was the 2nd largest economic powerhouse in the world? What happened?
I’d love to see the pride and dedication we have for our sports to translate into small business!
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