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5 essential do's and don'ts

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What makes a business successful? We talked to more than 1,000 Canadian small and mid‑sized companies and learned some valuable lessons about which strategies work best—and which should be avoided. Discover the 5 essential do's and 5 don'ts for entrepreneurs, and help steer your business to success.

5 do's and don'ts of successful businesses
What makes a business successful? We talked to more than 1,000 Canadian small and mid sized companies and learned some valuable lessons about which strategies work best—and which should be avoided. Di...

 

What do Canada's most successful entrepreneurs have in common? And what are the main factors that lead companies to failure? We talked to more than 1,000 Canadian small and mid-sized companies and learned some valuable lessons that all entrepreneurs can benefit from.

By examining factors such as revenue, growth and profit, we identified the most successful and least successful companies in our survey—and analyzed their strategies and common trends. We also reviewed the circumstances that had led certain companies to experience financial difficulties. Based on these multiple findings, we identified 5 essential do's and 5 don'ts for business success.

In this short animated video, you'll learn what every successful business should do—and what every business should avoid doing. The do's include the need to innovate and invest time in hiring and keeping the best employees, as well as being open to external advice and building supplier relationships. On the list of don'ts, you'll find warnings about relying on too few customers, neglecting financial management and delaying contingency planning.

Watch the video to discover the essential 5 do's and 5 don'ts for entrepreneurs, and find out how you can steer your business to success.


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