Success is rarely a straight line—it’s more like a bowl of spaghetti! In this episode of The Real Bottom Line, I chat with Jackie Dinsmore, a lawyer-turned-serial entrepreneur and investor, about her unconventional journey. Jackie shares how she built two successful businesses, navigated high-stakes exits, and disrupted the legal industry with her innovative approach at Caravel Law.We dive into the highs, the challenges, and the lessons learned, covering everything from cash flow struggles in retail to the art of negotiating business sales. Plus, Jackie offers invaluable advice for entrepreneurs on staying resilient, surrounding yourself with the right team, and knowing when to pivot or push through.If you’ve ever wondered what it takes to grow, sell, or reinvent a business, this episode is packed with actionable insights and candid stories you won’t want to miss!Topics Covered:Jackie’s entrepreneurial journey from handbags to kids’ apparelThe challenges of retail cash flow and inventory managementLessons from selling businesses and working with buyersDisrupting the legal industry with Caravel LawPractical advice for entrepreneurs on navigating the messy path to successSubscribe for more insights from entrepreneurs who’ve been there, done that, and are ready to share the real bottom line!📌 Links Mentioned:Connect with Jackie Dinsmore: Caravel Law Website

In this special edition of The Real Bottom Line, we’re diving deep into the world of live events and how they’ve evolved since the pandemic. Wendy sits down with three incredible guests—Menna Riley, founder of Leading Ladies Networking, Tyler Hayden, a renowned keynote speaker and author, and Ravi Tangri, a facilitator and expert in soul engineering—to explore how live events can boost your business, the shifts in event structuring, and why connection remains key in the post-pandemic world.Our guests share their personal stories of how they had to pivot during COVID, from taking in-person events online to blending virtual and live experiences. The group also discusses the upcoming Turning Tides Conference and why this event is a game-changer for entrepreneurs looking to learn, grow, and connect in new ways. This is an episode packed with actionable insights, expert advice, and a unique look at the future of live events.Key Takeaways:Pivoting in a Pandemic: Menna, Tyler, and Ravi share how they transitioned from live to virtual events, and how those changes have stuck around in hybrid formats.The Importance of Connection: The pandemic showed us what we missed about in-person interaction. Live events help foster that connection, but they now require a more engaging, interactive format.Engagement is Everything: Ravi discusses how to engage your audience, whether in-person or online, with techniques like open space and World Cafés that keep people connected and involved.Turning Tides Conference: The upcoming conference for entrepreneurs in Nova Scotia offers a unique "unconference" format where attendees will get personalized advice from experts and walk away with an actionable plan for their business.Memorable Quotes:Menna Riley: “Consistency, consistency, consistency—you have to keep doing it or you’ll lose it.”Tyler Hayden: “We’ve been missing a place to come and connect... We want to help create that for Nova Scotia long term.”Ravi Tangri: “I realized the blocks I was putting in my own way... and found suddenly I could do 95% of what I did in person with the same engagement online.”Special Offer:Listeners of The Real Bottom Line can get an exclusive discount for the upcoming Turning Tides Conference. Tune in for details and learn how to attend this unique event designed for entrepreneurs.Resources Mentioned:Menna Riley’s Leading Ladies Networking: https://mennariley.com/Tyler Hayden’s Team Building School: https://www.tylerhayden.com/Ravi Tangri’s Soul Engineering: https://speakerscanada.com/keynote-speaker/ravi-tangri/Turning Tides Conference: https://www.turningtidesconference.caConnect with Us:Website: blackstarwealth.comFacebook: Black Star WealthLinkedIn: Wendy BrookhouseInstagram: @BlackStarWealth

In this episode of The Real Bottom Line, I sit down with Talmar Anderson, founder of Boss HQ, to discuss one of the most crucial aspects of scaling any business—building the right team. Talmar shares her journey from being the "number two" in law firms to becoming a successful entrepreneur, and she breaks down the key difference between your Dream Team and your Freedom Team.We dive into the mindset shifts business owners need to make, how to stop hiring for potential, and why building a team that works without you is essential for growing—and selling—your business. If you're an entrepreneur looking to step into the CEO role and create a business that runs smoothly without being dependent on you, this episode is for you.Key Topics:Talmar’s personal journey from employee to entrepreneurThe difference between the Dream Team and the Freedom TeamWhy hiring for potential can hold your business backHow to build trust and delegate effectively as a bossThe importance of creating a business that doesn’t rely on you

Episode Summary: In this episode of The Real Bottom Line, I sit down with Julie Ellis, co-founder of Mabel’s Labels, to discuss her incredible journey from corporate life to building an eight-figure business and ultimately selling it. Julie shares candid insights into the challenges and triumphs of entrepreneurship, the importance of speed in a competitive market, and the emotional complexity of selling a business.Key Topics Discussed:Transition from Corporate to EntrepreneurshipJulie’s shift from the corporate world to co-founding Mabel’s Labels.How motherhood sparked the idea for the business.The early days of Mabel’s Labels and how the four co-founders divided responsibilities.Navigating PartnershipsThe dynamics of working with multiple co-founders.Importance of clear roles, communication, and having a shareholders agreement in place.The informal yet structured approach to decision-making that kept them moving forward.First to Market and the Need for SpeedHow being the first children’s label brand in North America drove the need for speed and innovation.Challenges of staying ahead of competitors and the fear of being overtaken by larger companies.Corporate Lessons Applied to EntrepreneurshipWhat Julie learned from her corporate experience that benefited Mabel’s Labels.The balance between process and agility in a growing business.The Emotional and Practical Aspects of Selling a BusinessThe unsolicited offer to buy Mabel’s Labels and the decision-making process that followed.The intense due diligence process and the importance of being well-prepared.Julie’s personal journey post-sale and why she decided to leave the company shortly after.Life After Mabel’s LabelsJulie’s transition to coaching and consulting after leaving Mabel’s Labels.Her focus on helping leaders at inflection points in their careers and businesses.The importance of intentionality and strategic decision-making in business and life.Top Takeaways:Clear Roles and Communication - Establish clear roles and maintain open communication to navigate the complexities of partnerships.Move Quickly, Stay Ahead - Innovate and push forward to maintain a competitive edge, especially when you're first to market.Prepare for the Emotional Impact of Selling - Selling a business is both a financial and emotional journey; be prepared for the challenges of both.How to Connect with Julie Ellis:Visit Julie’s website: https://www.julieellis.ca/Connect with her on LinkedIn: https://www.linkedin.com/in/julie-ellis/

Insights from Selling a 35-Year Business: A Conversation with Donna AlteenIn this episode of 'The Real Bottom Line,' host Wendy welcomes her guest Donna Alteen, a seasoned entrepreneur who shares her extensive experience in running and eventually selling her business after 35 years. Donna emphasizes the importance of early planning, setting up a leadership team, and engaging financial advisors and other professionals well in advance of the sale. She candidly discusses the emotional and procedural aspects of the transition, including the due diligence process and maintaining company culture post-sale. The episode provides valuable insights for entrepreneurs contemplating the sale of their own businesses.00:00 Introduction and Guest Welcome01:14 Starting to Think About Selling02:13 Preparing the Business for Sale04:13 Engaging the Leadership Team06:31 Finding the Right Buyer14:43 Due Diligence Process18:40 Post-Sale Reflections and Advice33:29 Final Thoughts and ConclusionFind Donna on LinkedIn - https://www.linkedin.com/in/donna-alteen-icd-d-6209483/Websitestimespacemedia.com (Company)facebook.com/TimeSpaceMediaLtd (Time + Space Media Facebook)

John Keel's Entrepreneurial Journey and Mastering LinkedInIn this episode of The Real Bottom Line, host Wendy interviews John Keel about his diverse entrepreneurial journey and the valuable lessons he has learned along the way. At 77, John shares his experiences from his three vastly different careers, including the launch and sale of a successful water treatment business. He discusses his transition into the internet business and becoming a pioneer in online marketing before turning his expertise to LinkedIn. John delves into the importance of a well-structured LinkedIn profile, consistent engagement, and the significance of relationship-building over selling. He offers practical tips for small business owners and entrepreneurs to leverage LinkedIn effectively, highlighting the need for patience, consistency, and providing value.00:00 Introduction and Guest Welcome00:18 John Keel's Entrepreneurial Journey02:03 Transition to Online Marketing03:20 Building a Successful Online Business04:14 Impact of the Pandemic and Pivot to LinkedIn05:07 Deep Dive into LinkedIn Strategies09:54 Personal Reflections and Lessons Learned17:18 Optimizing LinkedIn Profiles20:43 Effective LinkedIn Engagement24:09 Consistency and ROI on LinkedIn31:04 Final Thoughts and Contact Information

In this episode of The Real Bottom Line, Wendy Brookhouse sits down with Darryl Cresswell, a cybersecurity expert and founder of MyDWare. They discuss the critical issues of data privacy and cybersecurity in the age of artificial intelligence (AI). Darryl shares valuable insights into why small and medium-sized businesses are targets for cybercriminals, the misconceptions about AI and data security, and practical steps business owners can take to protect their sensitive information. Tune in to learn about the importance of hardware, software, and continuous monitoring in safeguarding your business.Key Takeaways:Misconceptions about the vulnerability of small businesses to cyber-attacks.The role of hardware and software in data protection.The risks of using public AI models for sensitive business data.Practical advice on choosing secure AI tools.The importance of having a company-wide cybersecurity policy.

In this episode of The Real Bottom Line, I chat with Alexis, the founder of Dovetail Summit and Two Roads Team Building. We dive into her journey from a babysitting empire inspired by The Babysitters Club to becoming a teacher, consultant, and ultimately a multi-entrepreneur. We explore how personal experiences and life events shaped her path, the importance of building community, and why psychological safety is crucial for team success. Plus, we discuss the challenges and rewards of working with a spouse in business and the importance of answering the call of our lives. Join us for an insightful conversation about entrepreneurship, leadership, and finding purpose beyond the numbers.

In this episode of The Real Bottom Line, I sit down with the fabulous Kim Skermer, who transitioned from a high-ranking corporate position to the world of entrepreneurship. Kim shares her unique story of being laid off during a Zoom call at the height of the COVID-19 pandemic and how she turned that experience into a powerful journey of growth and learning.Join us as we discuss:The importance of gratitude and accountability in navigating career changesHow to determine if someone is coachableThe concept of finding calm in the chaos of entrepreneurshipThe mindset shifts necessary for leaving corporate life and starting your own businessKim's insights are invaluable for anyone considering a move to self-employment or looking to enhance their entrepreneurial journey. Don't miss this inspiring and informative conversation!For more information on Kim Skermer and her coaching methods, visit The Approach Coaching Method.If you enjoyed this episode, please like, comment, and subscribe for more content on wealth management, financial planning, and entrepreneurship.#Entrepreneurship #CareerTransition #BusinessCoaching #CorporateToEntrepreneur #MindsetMatters #FindingCalm #KimSkermer

In this episode of The Real Bottom Line, host Wendy Brookhouse welcomes back Michael Devenney for an in-depth discussion on a crucial yet often overlooked topic: the mental health of entrepreneurs. Michael shares insights from his groundbreaking 2017 Mindset Project survey, which revealed that 68.3% of entrepreneurs experience mental health issues, with a depression rate nearly four times higher than the general population.Michael get into his personal journey with depression, which motivated him to conduct the survey, aiming to uncover whether his struggles were unique or shared by others in the entrepreneurial community. The conversation highlights the deep connection entrepreneurs have with their businesses and how this impacts their mental well-being.As they discuss the results of the initial survey and the ongoing second survey, Michael and Wendy explore the increased isolation and pressure entrepreneurs face today. They talk about the limited action taken despite growing awareness and the continuous challenges of financial health, growth expectations, and the impact of external factors like the pandemic and geopolitical events.Michael emphasizes the importance of seeking help through therapy and leveraging online resources, sharing his positive experiences with therapy over the years. Wendy and Michael also touch on practical strategies for entrepreneurs to manage stress, improve mental health, and foster better work environments.Join us as we break the silence on this vital issue and provide actionable insights to help entrepreneurs navigate the complex landscape of mental health. Visit mindsetproject.ca to participate in Michael's survey and contribute to this essential conversation.

Building Effective Teams: Insights from Erin Long Moon, CEO of Zephyr ConnectsIn this episode of The Real Bottom Line podcast, Wendy interviews Erin Longmoon, the founder and CEO of Zephyr Connects, a company that helps businesses build effective teams. Erin shares her journey into entrepreneurship and the importance of building a valuable company that is not dependent on the founder. She also discusses the common mistakes entrepreneurs make when hiring and provides valuable tips for onboarding new team members. Erin emphasizes the need for a partnership approach when working with a recruiter and highlights the importance of understanding your company's unique culture and core values when hiring. She also shares insights on the recruiting process and the importance of creating a positive and engaging interview experience for candidates. If you're a small business owner looking to build a strong and effective team, this episode is a must-listen!Erin shares her personal journey into entrepreneurship and how she became the founder of Zephyr Connects. She discusses the importance of mindset and overcoming limiting beliefs as an entrepreneur. Erin also highlights the need for intentional and tactical hiring decisions, emphasizing the importance of hiring for culture fit and diversity of skills and experiences. She provides valuable insights on the onboarding process and the importance of integrating new team members into the company's culture and dynamics. Erin also discusses the role of recruiters and provides guidance on when and how to use their services. She dispels common misconceptions about recruiters and emphasizes the importance of a partnership approach when working with them. Erin concludes by sharing tips for effective interviewing and the importance of creating a positive and engaging interview experience for candidates.Design a recruiting process that aligns with your company's needs and cultureFocus on culture fit and core values when hiringCreate a positive and engaging interview experience for candidatesConsider partnering with a recruiter for expert assistanceMitigate expectations and be flexible in the hiring process

Welcome to "The Real Bottom Line," the essential podcast for ambitious entrepreneurs gearing up for a future business transition. In this unique episode, we take a tongue-in-cheek approach to explore the pitfalls that can make a business unsellable. Drawing inspiration from Rob Normandeau's engaging presentation at the Business Transitions Forum, we dive into the top 11 missteps that could lock the doors on your business's marketability. From the perils of dictatorial leadership to the financial haziness of flying blind, each point is a playful yet poignant reminder of what not to do. Join us as we dissect these cautionary tales with humor and insight, providing you with an unconventional perspective on enhancing your business's value. Whether you're planning to sell soon or just aiming for growth, this episode will equip you with the knowledge to steer clear of these common traps.

In this inspiring episode of "The Real Bottom Line," host Wendy Brookhouse is joined by serial entrepreneur Cathy Bennett, whose extensive career ranges from successfully running the largest female joint venture in Canada within the McDonald's franchise system to serving as the Finance Minister of Newfoundland. Cathy shares invaluable insights into the lessons learned from her time in the fast-food industry and how these experiences propelled her into a diverse array of business ventures, including construction, real estate, and even venture capital through Sandpiper Ventures, focusing on empowering female entrepreneurs. Throughout the conversation, Cathy emphasizes the critical importance of strategic exit planning, the power of mentorship, and the necessity of fostering a supportive team. Her journey not only highlights the multifaceted nature of entrepreneurship but also sheds light on the unique challenges and opportunities faced by women in the business world.Key Takeaways from the Episode:The Value of Franchise Experience: Cathy attributes much of her success to the foundational skills and disciplines learned from the McDonald's franchise system. "You get to refine your problem-solving and your strategic thinking very significantly with that type of intensity."Diversification and Opportunity Seizure: From owning McDonald's franchises to launching a venture capital firm for women, Cathy's journey underscores the importance of seizing opportunities and diversification. "Where I saw an opportunity that financially made sense, and where our team had the capacity to expand, we expanded."Strategic Exit Planning: Cathy advises entrepreneurs to start planning for the sale of their business from day one. "The day you buy a business, you should really be thinking about it... because at some point, that time is inevitable."The Importance of Team Building: Highlighting the role of her team in her success, Cathy stresses the importance of hiring people who complement your skills and weaknesses. "Just because you see it quick doesn't mean you see it right."Challenges for Female Entrepreneurs: Cathy discusses the bias in venture capital and the challenges women face in accessing capital. "Only 2 percent of venture capital money actually ends up with women... there is bias in decision making."Mentorship and Empowerment: Cathy shares stories of mentorship and its impact, emphasizing the importance of empowering the next generation. "It was a similar path that I walked when I didn't have the capital, but ultimately a partnership was an opportunity for me."Quotes from Cathy:On making decisions: "It's really difficult not to make really quick decisions when every lunch hour... is a make-it or break-it type of experience."On the importance of a supportive team: "If we became stagnant, then the opportunities for [the team] became stagnant."On entrepreneurial mindset: "I got really aggressive on opportunity... it provided more opportunities for that team."On diversity in venture capital: "We investing in companies that are trying to solve very, the biggest problems of the world today."

In this episode of "The Real Bottom Line," host Wendy welcomes Sandra Reimer, an experienced entrepreneur and founder of CoLabourNation. The discussion delves into the nuances of entrepreneurship, storytelling in marketing, and the burgeoning world of freelance talent.  Key Points:The Evolution of Storytelling: Sandra discusses how storytelling in marketing has evolved with new tools, stressing the need for authenticity and considering the audience's perspective.Launching CoLabourNation: Sandra explains her motivation for starting CoLabourNation in 2020, driven by her desire to help others leverage their strengths in entrepreneurship. The platform focuses on connecting freelancers with business owners.Challenges in Hiring Freelancers: The conversation shifts to the challenges business owners face in hiring freelancers, such as finding trustworthy talent and understanding their own needs.Vetting Freelancers: Sandra details her process for vetting freelancers, looking for continuous learners with aligned personal and professional interests to ensure a perfect match with business owners.The Rise of Freelancing: The discussion touches on the increasing trend of freelancing, attributed to individual desires for meaningful work and the challenges businesses face in hiring full-time employees.Final Advice: Sandra advises entrepreneurs to understand their strengths, identify energy-draining tasks, and consider hiring freelancers to focus on high-value activities.About Sandra Reimer:Bio:Sandra Reimer is a dynamic Marketing Matchmaker, adept at connecting overwhelmed business owners with top-tier Canadian freelancers. Her venture, CoLabourNation, is pivotal in accelerating success for entrepreneurs by facilitating outsourcing in marketing and administration. With a rich experience spanning two decades, Sandra has carved a niche in helping world-changers articulate their narratives as a freelance communication strategist. Her influence extends to her roles in co-organizing Communitech’s Future of Work & Learning Peer-to-Peer Group and serving on the Conestoga College Entrepreneurship Collective Advisory Board as a Freelancer Evangelist. Her work with startup founders through Boundless Accelerator and Innovate Niagara showcases her commitment to nurturing entrepreneurial talent.Her Story:Sandra's entrepreneurial journey began 20 years ago as a writer, editor, and communication strategist. Initially handling both content creation and design, she soon realized that her strength lay in storytelling, not design. This epiphany led her to collaborate with a graphic designer, enhancing the quality of her services, client satisfaction, and her ability to sell these services. This experience was Sandra's first lesson in identifying and focusing on her highest value activities - tasks where passion, performance, and pay intersect.As she honed her skills, Sandra expanded her collaboration with professionals like website designers and other writers, embodying the essence of technicians collaborating to boost revenue. Gradually, she shifted towards higher-value work, embracing the roles of manager and CEO by hiring virtual assistants for administrative tasks. This evolution in her professional identity was crucial in freeing her to focus on areas where she excelled.Three years ago, Sandra embarked on a new venture with CoLabourNation, leveraging her expertise to match business owners with freelancers skilled in marketing and administration. She understands the challenges entrepreneurs face, such as being trapped in technician roles or needing skills outside their expertise, particularly in the increasingly complex field of marketing.Topics of Interest:Sandra is keen to discuss several key areas:Owner Identities: Understanding the different roles an entrepreneur plays - Technician, Manager, and CEO - and what it takes to transition between these identities.Levels of Delegation: She emphasizes the importance of delegation, outlining levels from basic task execution to complete ownership, crucial for business growth and personal development.The Challenge of Onboarding: Sandra recognizes the struggle entrepreneurs face in finding and integrating the right people into their businesses.Understanding Your Zone of Genius: She advocates for tools like Working Genius, Clifton Strengths, and The Stand Out Assessment by Marcus Buckingham to help entrepreneurs discover and leverage their unique strengths.Sandra Reimer's journey and insights offer invaluable lessons for entrepreneurs striving to balance their roles, delegate effectively, and operate within their zones of genius. Her expertise in connecting business owners with the right talent underscores her commitment to fostering entrepreneurial success.Connect with Sandra: Listeners are encouraged to connect with Sandra on LinkedIn or visit the CoLabourNation website for more information.Conclusion:This episode offers valuable insights for entrepreneurs looking to grow their businesses, highlighting the significance of storytelling, strategic networking, and the effective use of freelance talent. Sandra Reimer's expertise provides a roadmap for working within one's zone of genius by leveraging external resources.

In this insightful episode of The Real Bottom Line, host Wendy delves into the entrepreneurial journey of Sophia Hoareau, a seasoned entrepreneur who successfully built and sold her business. Sophia's story is a rich tapestry of ambition, strategic growth, and adaptability, offering valuable lessons for entrepreneurs at various stages of their business lifecycle.Sophia's entrepreneurial spirit was ignited at a young age, influenced by her family and her early business ventures. Her professional journey began in the insurance industry, but her entrepreneurial aspirations led her to co-found a business in the relocation industry, leveraging her background in Canadian immigration. Her company specialized in providing comprehensive destination services to expatriates relocating to Canada, including housing, work permits, and community integration.The podcast highlights the challenges and triumphs of Sophia's business journey, emphasizing the importance of a CEO mindset and strategic planning. Sophia shares her experience in scaling her business, focusing on quality service and maintaining a work-life balance. Her approach to business growth was methodical and ambitious, aiming to double revenue annually, a goal they impressively achieved.A significant portion of the episode is dedicated to discussing the intricacies of selling a business. Sophia candidly shares her initial reluctance to sell and how she navigated the complex process, emphasizing the importance of being well-informed and building a strong advisory team. She stresses the value of negotiation in the sale process and the emotional journey of letting go of a business she nurtured from the ground up.Post-sale, Sophia took a brief hiatus before launching her consulting and coaching business, Conseil Waro Inc. Her new venture focuses on business strategy and international mobility consulting, drawing on her extensive experience in the relocation industry.Key takeaways from this episode include the significance of building a supportive team, both in running and selling a business, and the importance of self-awareness and continuous learning in entrepreneurship. Sophia's journey is a testament to the power of resilience, strategic thinking, and the ability to adapt to changing circumstances in the world of business.Listeners can connect with Sophia for expertise in international hiring and business strategy, gaining insights from her rich experience in entrepreneurship and global mobility.Sophia's BioA true entrepreneur at heart, at the age of 11, Sophia seized her first opportunity to solve a problem when her family returned to live in the Seychelles after immigrating to Canada 7 years earlier. She started selling healthy sandwiches and homemade popcorn during recess to replace the junk food offered in the schoolyard!Her life journey inspired her to study Immigration first and then Business Management at the HEC of Montreal. She began her career in an immigration and relocation agency as well as a training centre helping new comers launch their business.At the age of 28, she moved on to a more significant challenge: the labour shortage in Canada. She co-founded a company specializing in the relocation and integration of foreign workers to address the pressing labour shortage.Sophia set a goal to double her company's revenue every year, which she achieved with her partner and team. This goal was accomplished through her hard work and dedication to both her business and family balance. The fact that the success of her company resulted in a seven-figure acquisition agreement is a testament to her leadership and strategic vision.Passionate about entrepreneurial challenges, Sophia has become a sought-after strategic partner by her clients to foster their success and growth. Connect with Sophia on LinkedIn: https://linkedin.com/in/sophia-waro

Today, we're going on a journey back in time, revisiting an interview that struck a powerful chord with our audience - a conversation I had with the incredible Michael DeVenney about a year or so ago.So, you might be wondering why this rewind is so important. Well, it all ties into a hot topic we've been discussing recently - breaking out of the business prison we often find ourselves trapped in. You see, this interview with Michael, it wasn't just any interview; it was one of our most popular episodes, and for a good reason. We tackled a subject that doesn't get nearly enough attention in the business world: entrepreneurs and their mental health.As entrepreneurs, we're often so focused on building our businesses that we forget to take care of ourselves. And this, my friends, can have a profound impact on our mental well-being. It can lead to a cocktail of less-than-positive feelings about our business and, even worse, push us to make decisions driven by exhaustion and overwhelm rather than sound long-term strategies.That's why, to complement this episode, I've designed a challenge tailored specifically for entrepreneurs like you. It's a chance to revolutionize the way you run your business and, more importantly, safeguard your mental health. You'll find all the details about this challenge in our show notes, so make sure to check it out.So, without further ado, I invite you to dive back into this enlightening replay with Michael DeVenney. Let it serve as a mirror reflecting your own journey as a business owner, and start thinking about your own mental health. Are there steps you need to take to ensure you're thriving, not just surviving, in the entrepreneurial world? Join me in this episode, and let's unlock the path to a healthier and more prosperous business future, together.

In this entrepreneurial podcast, the host delves into how business leaders often feel trapped in their own enterprises and offers 11 strategies to escape this 'business prison.' The strategies include creating a query diary for the team, listing team members alphabetically rather than by title, taking a teammate along for client meetings, simulating parental leaves to identify gaps, communicating company values frequently, documenting the sales and onboarding processes, and simplifying business operations. The host also advises limiting customization, creating marketing funnels, niching down for clearer messaging, and potentially eliminating products or services that only the leader can deliver. Not all strategies may apply to everyone, but choosing even one could bring in rewarding results.00:11 Introduction to Breaking Out of Business Prison00:19 Understanding the Concept of Business Prison01:22 Strategies to Escape Business Prison: Creating a Question Diary01:54 Strategies to Escape Business Prison: Listing Employees Alphabetically02:21 Strategies to Escape Business Prison: Not Going to Client Meetings Alone02:58 Strategies to Escape Business Prison: Pretending to Go on Parental Leave03:41 Strategies to Escape Business Prison: Communicating Company Values04:34 Strategies to Escape Business Prison: Documenting Your Sales Process05:27 Strategies to Escape Business Prison: Limiting Complexity05:57 Strategies to Escape Business Prison: Avoiding Customization06:27 Strategies to Escape Business Prison: Designing Marketing Funnels07:05 Strategies to Escape Business Prison: Niching Down07:41 Strategies to Escape Business Prison: Dropping Certain Products and Services08:07 Conclusion: Choosing the Right Strategy for Your Business

Introduction:Welcome to another insightful episode of "The Real Bottom Line". In this enlightening episode, we delve deep into the entrepreneurial wisdom of Dr. Angela Mulrooney, a multifaceted professional who transitioned from dentistry to become an extraordinary business coach and consultant. Angela brings forth a treasure trove of practical lessons that she has garnered through her rich and diverse journey of entrepreneurship.Key Takeaways:Resilience is a Skill:Resilience doesn’t always mean bouncing back quickly. Angela’s journey epitomizes that resilience is about granting ourselves the grace to navigate through adversities and challenges at our own pace.Scientific Approach to Business Concepts:Angela emphasizes the significance of adopting a scientific approach towards evaluating business concepts and ideas, advocating for thorough testing before fully committing to their execution.Leveraging Social Media:Exploiting social media for product testing is underscored as a vital strategy. A focus on measurable calls to action over vanity metrics is accentuated to ensure the strategic alignment with profitability objectives.Focus and Strategic Simplification:Angela’s journey underscores the power of focus and simplification. Through thoughtful reflection, she identified her zones of genius, enabling her to streamline her offerings and work more effectively and joyfully.Structuring and Scheduling for Success:Planning and structuring the day is highlighted as crucial. Angela’s strategic scheduling has been instrumental in enabling her to cultivate a balanced and fulfilling entrepreneurial life.Managing Inner Gremlins:Learn about managing the inner gremlins, those limiting beliefs and voices that could potentially thwart our progress. Angela shares the unique approach of naming these gremlins to manage them better.Conclusion:This episode is a goldmine of entrepreneurial wisdom, brimming with practical insights and strategies to foster business growth and personal development. Dr. Angela Mulrooney exemplifies a powerful narrative of transformation, resilience, and triumph, inspiring entrepreneurs to optimize their paths towards achieving their ideal business landscape.

What steps would one take to construct a life that resonates with their utmost passion and potential? Angela Mulrooney didn't just ponder this; she actively sculpted her destiny, turning challenges into stepping stones to her dream life. In our latest episode titled "Crafting Her Ideal Life: The Inspirational Odyssey of Angela Mulrooney," she delves into how she transitioned from a renowned dentist to a dynamic entrepreneur. When faced with an unexpected central nervous system challenge, Angela did not concede defeat. With unparalleled tenacity, she founded the Unleashed Dance Company and embarked on numerous entrepreneurial ventures, epitomizing her zone of genius.  Engage in a conversation brimming with insights as Angela unfolds the heart of crafting one's ideal life. Absorb the lessons from her path, including confronting fears, harnessing the audacity to reimagine oneself, and deploying potent strategies infused with deep-rooted wisdom and experience.Essential Takeaways:Angela's exciting pivot from dentistry to diverse entrepreneurial endeavors.The inception of "Unleashing Influence" as a touchstone of evolution in trying timesReal-world confrontations, and the art of aligning grand visions with pragmatic insights.The transformative “sticky note exercise” that fostered focus, clarity, and prioritization in turbulent times.For those eager to architect their own ideal journey or are at pivotal career junctures, Angela's story is a goldmine of wisdom and actionable lessons. Are you primed to discover pathways to your perfect life and unparalleled success? Dive into Angela's compelling tale for a dose of inspiration and invaluable strategies.

In this enlightening episode of "The Real Bottom Line," we delve deep into the concept of the 'end game' in business. What are your ultimate goals as an entrepreneur, and how do these objectives shape the strategies you employ in growing your business? Our host categorizes entrepreneurs into three types: those replacing a job, those funding a lifestyle, and the ambitious growth-seekers. We explore five potential 'end games' or exit strategies that every entrepreneur should contemplate. From scaling your business, passing it on to family or employees, stepping up as the chairman of the board, or even closing up shop - we cover it all. Our host emphasizes the importance of creating a business that can thrive even in your absence, ensuring that you have various options available when deciding your business's ultimate path. This episode is rich with insights, encouraging entrepreneurs to be strategic, consider the impact of their business decisions, and ultimately, maximize their end game opportunities. Whether you're just starting or looking to redefine your business journey, this episode is a crucial guide to understanding and planning for the future of your entrepreneurial venture. 🚀

Welcome to Season 4 of "The Real Bottom Line"! In this episode, we dive deep into the "Hub and Spoke" model, exploring the challenges many business owners face when they become the sole linchpin of their organization. If you've ever felt trapped, overwhelmed, or on the brink of burnout, this episode is for you. We discuss: The dangers of being too entrenched in your business.The importance of crafting your ideal day.Unlocking your unique genius and focusing on what you do best.Strategies for delegating tasks and hiring the right talent.Insights from Sheila Cummings on hiring at the strategy level. Discover how to make your business more valuable, ensure it can run without you, and truly understand the real bottom line. It's time to break free and transform your business into the asset it's meant to be! Take the challenge: https://www.bottlenecktobreakthrough.com

In this episode, we explore the true essence of wealth and the freedoms that come along with it. While staying at a dream lakeside home in Ontario, our host delves into the enriching experiences and lessons from Anthea, a successful businesswoman. Together, they demystify the concept of wealth, pondering whether it's just about money or if there's more to it. Drawing inspiration from figures like Steve Jobs and insights from Strategic Coach Dan Sullivan, they discuss the intertwined freedoms of time, money, relationship, and purpose. Business owners will find particular resonance in the discussion on the "owner's trap" and the journey from being an integral part of the daily operations to a visionary CEO. By the end, listeners are encouraged to redefine their vision of a "wealthy life," focusing on relationship richness, personal freedoms, and business autonomy. For those intrigued by the idea of amplifying their business value while maintaining a work-life balance, Wendy offers an opportunity to collaborate. Reach out to [email protected] and let's embark on this journey together!

Welcome to the latest episode where we unpack the key drivers that make your business more valuable. We dive deep into the inspiring journey of Stephanie Breedlove, an accountant turned entrepreneur who capitalized on a gap in the U.S. nanny payroll system and grew her business to a staggering value. Through her story, we uncover the magic of monopoly control and how businesses can leverage their unique strengths to maximize their market value. But that's not all, as this episode goes beyond just one success story. We delve into the metrics that truly matter, challenging the conventional wisdom of just "increasing sales" or "cutting expenses". We introduce the concept of the manager versus the owner mindset and the pitfalls of the "owner's trap". This transformational shift in perspective can mean the difference between a business worth $2.8 million and one worth $5.6 million. We also highlight the importance of the Switzerland structure - a business not heavily dependent on any single client, employee, or supplier. How does this neutrality benefit businesses in the long run? We break it down for you. Lastly, we touch upon the significance of the net promoter score, a single question that can determine your business's potential to outperform the market. Join us as we shed light on these eight distinct drivers that can substantially elevate the value of your business, ensuring that when it's time to cash in, you get the most bang for your buck. If you're an entrepreneur or business owner looking to amplify the value of your enterprise, this episode is a goldmine of insights you won't want to miss!

**Podcast Episode Description:**  In this gripping episode of "The Real Bottom Line," Wendy welcomes the inspiring Monica Buzhanov straight out of Sweden. Monica reveals her personal journey, detailing a crucial point in her life referred to as "Monica's big breakdown." Dive into Monica's transformation from burnout and depression to a realization about her energy. The discussion touches on the subconscious, patterns from our past, and how they can silently shape our present. Monica emphasizes the significance of understanding these patterns, particularly when it comes to our relationship with money. Discover how generational trauma can span across multiple generations and the role it plays in our daily lives. This episode is a deep dive into the intricacies of the mind, the power of the subconscious, and the path to self-awareness and healing. Don't miss it! Find Monica At monicabozinov.com https://www.linkedin.com/in/monicabozinov/

Brad Walsh is a successful photographer who laid the groundwork for his podcast in 2019 but didn’t launch it until the pandemic shut down his business. What makes this story so interesting isn’t that his podcast is in the top 3%, but that he has done so while creating a platform for women’s stories. Talk about allyship! Telling these stories is a huge passion for Brad and we discuss how this came about and The importance and responsibility we all have to tell our storiesWhy mentors and coaches can be game changersWho should consider becoming a podcaster and howWhy asking for help is a sign of strengthHow often should be updating your headshot We cover a lot of ground in this fascinating interview that I know you will enjoy. How to find Brad:  https://www.empowerographypodcast.com https://www.instagram.com/empowerographypodcast https://www.facebook.com/groups/empowerographypodcast

So many entrepreneurs struggle with mental health – quietly, afraid to acknowledge and certainly not to discuss it. Rebecca Bitten was a successful marketing consultant before she burned out. Not looking after herself led to a months-long hospital stay -where she met other entrepreneurs who had all the outward trappings of success, but had burned out. And that is when Rebecca realized her true calling – to become a mental health coach for entrepreneurs. This episode delves into The cost of not listening to your bodyDefining sustainable success and creating your own definition of successThe roots of WorkaholismSigns of Physical and emotional BurnoutDifferent strategies for self-care.

In this second episode about entrepreneurship, Lisa Hrabluk takes the interviewer's seat and we delve into some of the tactics that business owners can use to increase the value of their business and move up from micro and small to medium-sized business. To be ready in case you get an offer, to be able to scale and grow your business – without it running you into overwhelm. The tactics we discuss are for all businesses – not just those prepped for sale!

Lisa Hrabluk is back in the two-part episode. In the first episode, we are going on a bit of deep dive into the eco-system of entrepreneurship. Why is it important overall and why your role as a business owner is critical to the overall success? We also talk about the role of government and the future of Entrepreneurship in the Atlantic region. How Entrepreneurship plays a crucial role in Immigration.  How we need to think big and Why we need to move from a predominantly micro and small business region to a medium-sized business.

My guest on this episode of The Real Bottom Line is Giles Crouch. He is a digital anthropologist and a practical fore sighter – and our conversation covers some pretty interesting ground.  Including What is innovation and why small businesses need to do more of it?What are the top innovation myths?The difference between internal and external innovation?Are surveys and focus groups still relevant?Why talking to your clients is more important than ever?What your current analytical stack may be missing.

In this episode of "The Real Bottom Line" podcast, the host discusses the importance of planning for the end game of a business. While the podcast typically focuses on interviews with entrepreneurs at different stages of their business journey, this episode delves into the topic of succession planning and exit strategies. The host shares insights from a survey conducted by the Canadian Federation of Independent Businesses, which reveals that a significant number of Canadian business owners plan to exit their businesses in the next decade, representing a massive transfer of capital and assets. Surprisingly, only a small percentage of business owners have a formal transition plan in place. The podcast emphasizes the need for business owners to view their businesses as valuable assets and explores various strategies for transitioning the business to new owners, such as selling to non-family buyers, family members, or employees. The host also discusses the challenges and barriers faced by business owners when it comes to succession planning, including finding suitable buyers and accurately valuing the business. The episode highlights the importance of seeking professional help and engaging in exit planning early to maximize the value of the business and ensure a smooth transition. Read my article about the importance of Exit Planning: https://blackstarwealth.com/the-importance-of-exit-planning-preparing-for-the-future-of-your-business/

Welcome to "Power Sharing for Profitability in Your Couple Partnership," the latest episode of the Real Bottom Line podcast. In this unique roundtable slash webinar, we delve into the experiences of Anthea Mumby and Douglas Pinnell, a dynamic couple who have successfully navigated the world of entrepreneurial coupleship for over 25 years. Douglas and Anthea share their invaluable tips and tricks on how they've managed to work together harmoniously as spouses and business partners. Join us as they recount their journey and provide insights that can benefit anyone working with their significant other. Anthea Mumby and Douglas Pinnell were the owners of an insurance brokerage that provided life, living benefits, car, home, and business insurance.  A portion of the business was sold in 2020, with the remainder retained by Douglas, who continues to educate clients about life and living benefits insurance solutions. Anthea now provides consulting services to couple owned businesses. Throughout the episode, our guests emphasize the importance of power sharing and defining individual roles within the business. Douglas specialized in the life and health side of the company, while Anthea focused on the property and casualty side. They illustrate how staying in their respective lanes and maintaining open communication have been key to their thriving partnership. We address the common reactions they receive when sharing that they've worked together for 25 years, including the skepticism and disbelief from others. Douglas and Anthea reveal how they've overcome these doubts and proved that a successful professional partnership can exist within a marriage. Drawing from their personal experiences, our guests also highlight the pros and cons of running a business with your spouse. They touch upon the benefits of trust, complementary skills, effective communication, and shared goals. Additionally, they offer practical advice on managing expectations, establishing boundaries, and finding a balance between personal and business lives. Join us in this thought-provoking episode as we uncover the secrets of power sharing for profitability in your own couple partnership. Whether you're contemplating working with your spouse or seeking ways to strengthen your existing business dynamic, this conversation with Douglas Pinnell and Anthea Mumby is packed with valuable insights that can transform your entrepreneurial journey.

Matt Benvie is the owner of Evolve Fitness – a gym that focuses on group and semi-private training. The gym has grown to 4 locations and Matt is focused on total health – including good nutrition, sleep and weight training. We talked about Work/life balance is a mythOwning a business is going to be hardFinding and staying in your zone of geniusHow personal growth may result in a change of friendsHow music and travel is his self careHow the 6 week challenge helped grow his business

The 6th Annual Financial Stress Index from FP Canada has just been released and surprise, surprise Canadians are more stressed about money - it is their number one stressor yet again. In this special edition of The Real Bottom Line I am joined by financial literacy champion Tracey Bissett and Financial Therapist Aseel El-Baba. We are going beyond the numbers and discuss real actionable strategies to reduce your stress around money. 

In this thought-provoking episode of "The Real Bottom Line", we delve deep into the critical role of a CEO and how transitioning into this role can help you amass wealth. Our discussion begins by defining wealth not just in terms of money but also time, freedom, and resources. We illuminate how your growing business becomes your primary asset and how its increasing value directly impacts your wealth. Drawing references from Michael Gerber's book "The E-Myth", we explore the different hats a business owner wears and emphasize the significance of the "entrepreneur hat", akin to the CEO hat. This episode further contrasts the roles of a "Rainmaker" and an "Architect", and argues the limitations of being solely a rainmaker for your business. We share insightful questions to help you identify where you stand on the spectrum of Rainmaker to Architect and offer actionable tips on transitioning towards being an Architect for increased business value. By providing tangible steps such as documenting your sales processes, simplifying your service offerings, and involving a team member in your sales meetings, we guide you to transition from the limiting role of a technician and facilitate business growth. Join us to learn how shifting your role can lead to wealth creation and remember, the real bottom line is the more you step into your CEO role, the wealthier you become. Email us at [email protected] to continue the conversation.

Terry Tucker is an inspiring human being. His beautiful soul shined through in this interview and it was like an aura that makes you want to be his friend. Founder of Motivational Excellence, speaker and author, Terry is currently in his 11th year of battling cancer and he has had his foot and leg amputated in the last couple of years and currently has tumors in his lungs. Terry uses this as his fuel to spread his 4 truths to the world.   There is much to be learned from Terry and his journey – and I hope you will take the time to join us as I learn about his 4 truths Control your mind or it will control youEmbrace the pain and discomfort we all experience and use it to make you a stronger and more determined individualWhat you leave behind is what you weave in other people’s heartsAs long as you don’t quit, you can never be defeated. Check him out at www.motivationalcheck.com

The Riches are in the Niches – as business owners we have probably heard this saying a number of times. My guest Mark Chyz, President of CM2 Media. He niches in a couple of ways, but one of the most interesting is by psychographic markers. He also keeps a list ranking his clients – a fascinating exercise. Some of the other roads we go down are: SEO vs SEMWhy you should start with StrategyCost of Client AcquisitionSetting your marketing budget and how oftenHow to interview for a marketing agency Mark’s 11 years of being a business owner shine through this episode and I just love how he gets his confidence!

Have you ever been fearful of public speaking? Of taking the stage in front of an audience? My guest, Corey Poirer is now known as That Speaker Guy – but he had a huge fear of both of those things. We talk about how his fear of having regrets, of looking back and wishing he had done something was great than those fears. And that set the stage for some pretty interesting and philosophical topics like:  Who do you have to become to achieve your milestonesWhat if the journey is the destinationThe power of passion and purpose.  It is such a great discussion, I know your thinking will be sparked!

Building a business over 35 years and then recognizing a niche and then going for it – that is Larry Keating story. In this episode, we talk about  How to stay excited about businessRecognizing opportunitiesThe importance of getting out of your comfort zoneHiring to keep people at least 2 yearsThe importance of recognizing teachable versus non-teachablePersonal blocks vs. World blocksWe also got into the subject of confidence and over presenting.  I really enjoyed this conversation.

The importance of being true to yourself and energy is what Lisa Drader Murphy is all about. Lisa is the founder of LDM Group of Companies – which encompasses her namesake fashion line, Studio, Willow Vale Estate, and coming soon a fabric enterprise.  Lisa is a force of nature, extremely focused, and a true businesswoman. She has always carved her own path and is unique in the fashion world – she designs, manufactures, and retails all her own products. The pandemic resulted in a hard stop for all her businesses and the first pivot was to manufacturing face masks – over 55,000 of them! We talked about the slow return to normal – and how that may have shifted. We cover some really juicy topics like: When a good opportunity really isn’tThe importance of observationCreating space for creativity Enjoy the episode!

It was time to turn the tables!  In this episode, Andre Brisson is the host and I am the guest!  After 100 episodes where I ask all the questions of my guests, we flipped the script so that you could learn more about me.  Andre was able to get some pretty interesting stories and philosophies out of me. My favorite story is one that I haven’t spoken of in years – and it is about my mother. I lost my mother to cancer just over 17 years ago. She was and is a driving force in my life. When I was around the age of 5 or 6, she was declared legally blind. But that did not stop her in the least. I think I have a lot of her characteristics – including the fact that the older I get, the more my filter is fading!  Enjoy this episode.

2 years and 13 days later, we are at Episode 100 of The Real Bottom Line. Along with co-host Donna Alteen, we are featuring clips from 12 previous guests: Ross SimmonsAnthea MumbyKatelyn BourgoinDiana LidstoneShelagh CumminsLaural CarrCynthia MasonJohn SwainMichael DevenneyMonique BryanTeresa EaslerPaul Fitzgerald The lessons from the past 100 episodes are almost too many to list - and were certainly super hard to narrow down! The big takeaway I had after reviewing a few hundred pages of transcripts is that as business owners we know more than we realize. It has been an absolute privilege to highlight the ones on this episode and the others along the way! I truly appreciate all my guests – they have freely shared their stories and provided some amazing lessons – who have helped me learn and hopefully the audience as well. In this episode, we have built the clips around OperationsMarketing/BrandingThe Inside Game – mindset. Donna and I provide some great commentary along the way! It’s a little longer than normal, but well worth the time! And check out the gifts from the featured guests at https://www.blackstarwealth.com/100

I am too small….it won’t happen to me. Thoughts that a lot of small business owners have when they think about Cyber Security. You aren’t. Cyber theft is big business and we cover a lot of ground in this interview. We talk aboutThe dark web.The importance of cyber insurance and the way it works.The importance of ongoing training and awareness for all your staffWhat is your cyber security stack Darryl Cresswell is the founder of MYDWARE a firm that specializes in helping small businesses prepare. For listeners of this episode, he is offering a gift of a free security assessment. www.blackstarwealth.com/cyber to sign up.

In this week's episode of The Real Bottom Line, Jesse Adams, Founder of Ember Experience, shares insights on building a positive workplace culture and how leaders can model behavior that encourages psychological safety. Here's a breakdown of the key takeaways: Acknowledgement vs Agreement: Leaders can create a culture that values open and honest communication by acknowledging without necessarily agreeing. By doing so, they can foster a safe environment where employees feel comfortable sharing their thoughts and opinions.Aligning Values with Social Contract: The social contract made with employees at the beginning of the relationship needs to align with the organization's values. Leaders must ensure that the expectations they set at the outset are consistent with the organization's values, and execute them properly.Compassion and Boundaries: Compassion is crucial in the workplace, but it's equally important to set boundaries. Leaders must have uncomfortable conversations when necessary, and approach them with empathy and authenticity while still addressing issues effectively. Overall, this episode offers valuable insights into building a positive workplace culture where employees feel safe to express themselves, and leaders can effectively address issues with empathy and authenticity. If you're a leader looking to improve your organization's culture and create a safe and inclusive workplace, this episode is a must-listen!

Lisa Hrabuk is a former award-winning writer and journalist turned business strategist and problem solver. Through her company, Wicked Ideas, Lisa helps shift power dynamics, untangle problems, and access the money and influence needed to create sustainable change that sticks. We get philosophical, yet also practical, as we discuss wicked problems, what they are, and how they can be solved. If you want to find out what FAST and SLOW mean when it comes to these wicked problems and ideas, and how to embrace being a disruptor and stepping into the power of shifting your ecosystem, then this is the episode for you! Listen now to learn the importance of your values, and how identifying where you want to go (not where you are) is integral to finding your success. Learn more about Lisa at wickedideas.ca LinkedIn: https://www.linkedin.com/in/lisahrabluk/

Alison Taylor is the Co-founder, CEO, and Portfolio Manager of Invico Capital – a leader in the alternative investment space. She is the winner of several prestigious awards, including Female Executive of the Year in 2019, and made the 2021 Top 100 list of Canada’s Most Powerful Women. We dig deep down into how Alison and her Co-founder started Invico, the products they have, and how they work. We also talk about how she grew the company from 3 employees to 50, and the importance of investing in your employees, inspiring your team, and giving back to your community.    She is a proponent of women in Finance, and the high number of females working in all levels of the company certainly stands out in this traditionally male industry. If you would like to understand more about how your business can access debt capital, even if you don’t fit in the bank mold or benefit from a fund that does that type of investing, take the time to listen to this episode. You won’t regret it!

Kristen’s business was started as a side hustle that became the main act in the Pandemic. She is a true purple brain – what I call people who are equal parts of logic/math and creativity.  Her husband also owns a business in the creative side of marketing and they are definitely helping each other grow. She didn’t always like math, but she has truly gained respect and appreciation. We covered a lot of ground in this interview – How to use planning to escape the hustle and grindHow to schedule your tasks to take advantage of when you are at your bestTwo things that can help you grow your appreciation of mathHow using personalize letter design can create a curated client experienceHow to stand out in your field with customized fonts

In part two of this special episode of the Real Bottom Line we are concluding the Master Class – Mixing Love and Business.  If you are part of an Entrepreneurial Couple, you are going to want to take a listen and find out about The Montebello Rule and why you need oneWhy intense hobbies are importantBeing open to renegotiationMoney, risk toleranceBalancing roles at work and homeLegacy

We recently ran a live masterclass for Entrepreneurial Couples – Mixing Love and Business: Crafting a recipe for success. And boy did we delve into the meat and potatoes of how to be successful – and Eleanor Beaton and Neil Stephen deliver the goods. So much so that we have taken the class and made it into a special two-part episode of The Real Bottom Line.  In part one, we cover decision making Having space and grace around decision makingThe importance of shared values and the difference these make.   It’s soo good….enjoy!