Welcome to the CanadianSME Small Business Podcast, hosted by Maheen! In this episode, we delve into the real-life struggles, triumphs, and invaluable lessons of entrepreneurship. Starting a business is a challenging journey, with 50% of new businesses in Canada failing within the first five years, according to Statistics Canada. But it’s not all doom and gloom—there are powerful strategies to navigate these challenges, and today’s guest is living proof of that.
Joining us is Michael Dermer, CEO of The Lonely Entrepreneur, a platform dedicated to providing entrepreneurs with the tools, knowledge, and support they need to succeed. Michael shares his remarkable story of building a business from the ground up, reaching 500 employees, and nearly losing it all. He opens up about the tough lessons he learned along the way and how those lessons shaped his mission to empower entrepreneurs to overcome obstacles and thrive.
In today’s episode, we’ll explore Michael’s personal journey, his insights on resilience and risk management, and how The Lonely Entrepreneur is supporting Canadian entrepreneurs in achieving success. Tune in to hear strategies and wisdom that can help you on your own entrepreneurial path!
key highlights
- Michael Dermer shares his powerful story of building a business from scratch, growing it to 500 employees, and facing a near-collapse within days. He emphasizes the importance of resilience in overcoming setbacks and learning from failure.
- Michael discusses the mission behind The Lonely Entrepreneur, a platform he founded to provide entrepreneurs with the knowledge, tools, and support they need to navigate the complexities of running a business.
- He highlights the importance of prioritizing personal well-being while managing a business, stressing that self-care is essential for long-term success and preventing burnout.
- Michael shares insights on the unique challenges faced by Canadian entrepreneurs, such as market size and government regulations, and explains how The Lonely Entrepreneur tailors its resources to support the specific needs of Canadian businesses.
- He explains how personal growth and leadership development contribute to business success, emphasizing that entrepreneurs should continuously work on improving their leadership skills and self-awareness to strengthen their businesses.
Special Thanks to Our Partners:
- RBC: https://www.rbcroyalbank.com/dms/business/accounts/beyond-banking/index.html
- UPS: https://solutions.ups.com/ca-beunstoppable.html?WT.mc_id=BUSMEWA
- IHG Hotels and Resorts: https://businessedge.ihg.com/s/registration?language=en_US&CanSME
- Google: https://www.google.ca/
For more expert insights, visit www.canadiansme.ca and subscribe to the CanadianSME Small Business Magazine. Stay innovative, stay informed, and thrive in the digital age!
Disclaimer: The information shared in this podcast is for general informational purposes only and should not be considered as direct financial or business advice. Always consult with a qualified professional for advice specific to your situation.