Many business owners don’t always have the right insurance in place or have the right person looking after their needs. This doesn’t always come to light until the insurance is needed and a claim is made. A small business can change significantly in a year (i.e. ownership of a building, increased staff). Many businesses are working out of a “home office” or “shared space”, such as consulting, sales, web development.

The main office has been around since 1978, there are multiple locations. Steve finds as an individual it is easier to make changes than a larger corporation. Technological changes are much easier to adapt to and utilize when you are a smaller company, that can test out the new processes, rather than having to go through the red tape of getting new technology approved. The complexity of working with a massive corporation, there are too many layers of bureaucracy. Being able to text, and e-signature, has really helped go towards a paperless business and being more efficient.

Ongoing upkeep is the main preventative towards protecting your business. The insurance industry has changed some products on residential insurance coverage to include overland water coverage to protect against rain storm damage. The industry changes as needs change. Proper coverage and liability is a must to have in place. Requirements for the amount of coverage has changed due to so many different scenarios, and what people will sue for. The claims that can be incurred can be costly even to just have the investigation file opened and lawyers involved.

Home businesses also need to ensure that their insurance needs are in place, because there are so many different areas of risk. Business owners may not be aware of their exposure to risk, it is worthwhile to discuss this with a broker to ensure you have the correct coverage in place. There are so many unique businesses opening up that have created new challenges (such as escape rooms). Exploring all possibilities is part of assessing the risk on a brand new business. There are so many challenges.

Getting to know the business owner, as the businesses change, you want to be able to approach your broker and have a good relationship. Having an open door, as a business evolves, ensures that all the correct coverage is in place. As many specialized markets open up, it is good to have a person who is familiar with insuring new and unique businesses, and keeping an open discussion.

Dan has a question for Jurgen, what has played a part in Jurgen being an entrepreneur, what his background was. Jurgen shares a quote “Life rewards the specific ask and punishes the vague wish.” Recharging the batteries, is very important to keeping motivated throughout the year. There are certainly differences between leading a specific life and leading a vague life. Entrepreneurs aren’t any more honest or truthful then the general population, but they do get beaten up more quickly if they lie to themselves. There is a “30 day report card” in being an entrepreneur (have you met your responsibilities) any vagueness can threaten your entrepreneurial existence. You can’t fake it, you need to deliver.

The “why” is a very important aspect to being an entrepreneur. The vast majority of entrepreneurs are “accidental”. An entrepreneur doesn’t always agree with the means to getting to an end result as someone who works for a big corporation. They bypass standard, conventional ways of doing something, because they see a different way. Status won’t buy you freedom, but freedom will buy you status. People also become voluntary entrepreneurs, through life circumstances, they tend to always want to achieve the “security” they felt in previous jobs. Entrepreneurs that are “born” into it tend to see it differently, unemployment can be an opportunity.

Leadership and team, are keys to success. The number one goal is to take your organization and make it self managing. You are freed up inside the company just to do everything that is new and exciting to you and to the company and outside you are freed up completely to enjoy a personal life. You never know how good a team you have, until they can’t phone you.

Starting off with a positive focus, puts you in a winning mode. This helps you deal with the projects. Dan shares, that when he is holding meetings, he likes to have everyone at the meeting share something they are excited about. The reason is the participates are there to achieve something that will only happen properly if everybody is on a high energy level. You don’t know people’s circumstances prior to the meeting. But this helps achieve a common energy state. Now, they have also connected with each other. Now, the energy is high and motivated. Also, to close out the meeting, a share of what was the best part out of the meeting.

This mentality can spill over into personal time, and help with free time away from work and with family. Children today can have a disconnect, and this discussion of something they are excited about, can knit the family together.

Setting up the right conditions for there to be high energy in your business life and your personal life - what a win.

Jurgen goes on location to chat with Dan Sullivan, founder of Strategic Coach. The podcast idea came out of an idea when Jurgen was in a workshop and Dan was in his cafe, in Toronto (he doesn’t have an office). Dan was at his table and Jurgen sat down, introduced himself, and Dan loves podcasts.…

The restaurant is on Barton and John - it’s on a corner lot. James had just come from purchasing meat, which is hand sourced. “Small is the new big” comes to mind with this restaurant.

The organic food industry is growing, but monopolies will take over, and decide what the standards are.

Finding “hidden gems” is almost like a bragging-right of what you’ve discovered, and what you want to share.

Almost all the beers and wines are local products. One of the concepts of the restaurant is it has local products. Hamilton offers a unique situation in all that it has to offer for choices of products. You can drive through the Niagara Region and create your own winery tour. The restaurant scene is so good, and this type of restaurant can thrive, because it is so easy to get quality products. James mentions that if he weren’t visiting other great establishments in the area they wouldn’t be as inspired, and wouldn’t be in this business, if they didn’t love going out.

The restaurant has been open a year (May 27th). The idea had been a long time plan/concept. This location and business plan, was originally thought to be on a busier street (Locke or Ottawa Street in Hamilton). Unable to find what he was looking for, he turned to kijiji to find a location that the owner wished to sell. Sometimes, things happen in interesting ways, to actually work out for the better. The cool restaurants that open in small towns, or off the beaten path, can turn out to be those great restaurants.

There is a lot of resources available to the entrepreneur. Small independents support the other small independents. This leads to good quality and good ethical products. Sustainable farming is good. The meats are selected seasonally.

The staff are encouraged to offer ideas for dishes on the menu. There are meat and vegan dishes available as they wish to be very vegan-friendly. It is better for your health to be plant based. Having meat every day is hard on your digestive system. Good quality meat means you also do not need as much because it is higher in protein, instead of water. It tastes and feels different.

Andrew had so much to share we broke the episode up into 2 episodes. Part 2 is about Andrew’s entrepreneurial journey.

Mornings are different from being an employee. You lose some of the support around you, but install it in yourself. Having a regimen - such as brain exercises, physical exercises, etc., helps get the day started. As an employee, you have your responsibility and you do it. As an entrepreneur you have many responsibilities. You have to grow business-wise, but also personally, and in your mind. There are issues you will have to face and handle. Having a daily routine, and challenging yourself is helpful, having a goal, helps you be adaptable. Time management is very important.

Deciding to leave a steady job, as an employee, is not an easy decision. Andrew discusses how he moved up the ladder from the call centre to sales. He saw how the investment future was changing to reflect technology changes. He wrote a business plan on a flight. He realized if he did not jump onto this opportunity now, he could miss it. “There is nothing more painful than regret.” He could be comfortable with his job, but he had a passion, he saw the trend, and he took a leap. Of course, this was tough in the beginning. Being an employee, with a regular paycheque to self-employed. Your support group is an integral part of being an entrepreneur, as there will be times where you question your decision, and there will be ups and downs. It isn’t easy. It is a rollercoaster - you will have many decisions - but the rewards will be evident when you look back. Trust your instincts.

It’s not as easy as an idea. An idea is awesome, but it needs hard work and focus to turn it into something. People can do it, but they need to work at it. Taking yourself out of your regular environment to let the ideas in. Entrepreneurs and business owners have a bond. A successful business owner wants to give back to people starting out, because they know how difficult it can be in the beginning. They are onto other problems. As an employee, everything is there for you, there is a support team. As an early entrepreneur, you are the whole support team (it seems) it can be overwhelming. Having a schedule and being mentally ready, helps to tackle some of those challenges during the day. Mapping out the week, planning out the calendar to have 2 - 3 important tasks in a day, keeps things focused and helps review what has been achieved. You can’t do everything at once. Breaking it down by day is more efficient to completing tasks. We overestimate what can get done in a day, and underestimate what can be done in a year.

Gratitude is very important. Looking at the small problems in perspective, helps you realize what you have, and what you can do. There are tools and resources (links below) out there that can help with all of the “hats” entrepreneurs feel they have to wear.

Andrew Kirkland visits to chat with Jurgen about his new venture, Justwealth. Justwealth takes the traditional investment model of working with a financial advisor or bank and puts it online. A portfolio is built through the online interface. The financial services industry has been operating “status quo” for a long time. Justwealth is offering a…

Today’s guest is: Jason Liquorish, tagfinderapp.com This is a worldwide, “if found”, instant messaging service. The tag finder app can be downloaded onto your smartphone. If you lose anything, keys, luggage, pets, anyone who finds it can message you in real time (similar to a text) and connect instantly to get your stuff back. GPS…

There is too many different verticals to go through, but there is a list on their website of what various industries are eligible. A few examples are manufacturing, IT, food, applied math, animal husbandry, medical practitioners. Bond has clients in many different industries. Many people are surprised to see what is eligible. About 2/3 of eligible claimants don’t claim for the largest tax incentive program in Canada. The program is very generous.

Many businesses don’t claim because of lack of knowledge. They don’t know they are eligible. Also, many businesses aren’t incorporated, and this program is geared towards incorporated business entities. Some are just afraid of the Canada Revenue Agency.

The advancement of scientific knowledge is an area that is definitely eligible, through analysis and data collection. It can be through a clinical trial or clinical study within a medical practice. This is largely unclaimed work. Bond Consulting would like to reach out to specialists, or those who conduct treatments within their medical practice (i.e podiatrists, chiropractors, physical therapists, optometrists). The collection of medical data that can be resulting in the advancement of knowledge could be a claim.

A claimant does not need to be a medical doctor. The area of scientific study where there can be some advancement in knowledge or an area of technology (i.e. food or IT) probably qualifies, and an assessment would be worthwhile. Does the work go beyond “standard practice”. Standard practice is identified within each industry. If the work has gone beyond this (i.e. experimentation with various ingredients in the food industry to make something gluten free, lower sodium, etc.).

Bond Consulting takes a percentage of what is approved. The website has various youtube videos to provide some clarification on this process.

Building “likes” and “followers” takes a lot of effort to grow your audience. Thomas suggests the example of a Walmart flyer, which advertises several company brands and you can purchase from various brands under one roof. Small companies need to work together to do the same thing. Klusster works with social media, allowing companies to work together to send your message out to your contacts, and your collective following of the other small companies in your Klusster group.

This multiplies your audience in one shot.

Thomas mentions how the “Friends of Downtown Burlington” are using this to reach a wider audience and share, in order to bring people into the Downtown Core area of Burlington. This allows you to share, recommend, and refer within your group.

This gives power to small business owners, as they can now work together. The more you work together, there is less competition and more bringing business into your community, therefore, more benefit.

Thomas started 20 years ago along with his wife. They have grown with the internet developing websites. Where previously a website was the end objective, now it is a starting point. They are geared to helping clients, generate leads, using online communications, converting them to clients, and retaining the loyalty. Social media is “word of mouth” and the referral format that is used most frequently used now. The ripple effect from Tweets, for example, is very valuable.

Entrepreneurs have a story to tell, and at the same time are interested in the story of others. Social media allows us to share these stories, and learn from them. The game has changed from 5 years ago, and how will it change over the next 2 to 5 years. It is difficult to stay on the ball. Technology can be very disruptive. But, learning to use these tools can only help businesses.

Klusster is similar to an e-magazine. Where there is a table of contents allowing users to see the articles they wish to see. In the background, businesses can push their articles out to their contacts, as well as the articles of other businesses in your group. Collaboration of peers helps the group grow, more than you can grow individually.

Why the Open Roll Podcast? This episode is an update to past, present, and future. The Open Roll Podcast was #1 in Apple iTunes for December, 2015. I want to personally thank you for tuning in, or downloading each week, and also for leaving ratings and reviews. That support has meant everything to the podcast.…