Why Canada's Banks Don't Need Help

[speed]

Interesting article here.

Speed

[GzrGldGeo]

So the government and the bankers in Canada didn't engage in out and out fraud? That may help.

The Canadians just aren't afraid enough yet to listen to absolute BS. You need to be more afraid of the boogy man up there Speed.

There are boogy men everywhere. Trust your government and blindly follow and they will protect you from the boogy man.

[speed]

Oh, the government loves to spread fear about the Boogie Man George - just not in the banking industry.

Lending practices have been strict for as long as I can remember and capital requirements for banks have typically been the highest in the world.

The banking situation is just one of the few things we have done right up here, but that's still not enough to stop me from expanding my business to the U.S. and moving there.

Cheers,

Speed

[TexasRed]

Great article in how to run a business

Hopefully ya'll can help out our math-challenged buffoons when your here on the 15th!! :lol:

[GzrGldGeo]

Originally Posted by speedman

Oh, the government loves to spread fear about the Boogie Man George - just not in the banking industry.

Lending practices have been strict for as long as I can remember and capital requirements for banks have typically been the highest in the world.

The banking situation is just one of the few things we have done right up here, but that's still not enough to stop me from expanding my business to the U.S. and moving there.

Cheers,

Speed

Great Speed. Hopefully you can hire a few Americans in your venture. We need the work.

[speed]

We will be open for business in the spring. I'm just going through all the legal stuff to get setup.

I expect to hire half a dozen people in the first year and expand to 25-30 people within 4 years. Most of my guys here make $100k a year - give, or take, so they will be high paying jobs that I will be creating in south east.

Cheers,

Speed

[GzrGldGeo]

Originally Posted by speedman

We will be open for business in the spring. I'm just going through all the legal stuff to get setup.

I expect to hire half a dozen people in the first year and expand to 25-30 people within 4 years. Most of my guys here make $100k a year - give, or take, so they will be high paying jobs that I will be creating in south east.

Cheers,

Speed

That is great news. Sounds like you value your employees too, which is a lost concept. I have a year and half to 30 years with the big company. I will try to stay brushed up on my Linux services, in case I need a job and you need people. I can explain the "value" of most anything with a pretty straight face though.

[speed]

It took me years to develop a compensation plan that is mutually beneficial for the company and the guys in the trench. I don't keep track of things like days off, or even where my guys are half the time. They log their work in a Web based system and my office administrator bangs out invoices. They get comp'd on what they produce and not how many hours they sit in front a a computer and everybody is happy in the end. The concept of somebody being somewhere for X amount of hours and therefore being productive is a legacy of the industrial revolution that isn't applicable to knowledge workers. For example if I solve a problem in 5 minutes because I have seen it many times before and some monkey takes all week to do the same thing does that make him more productive than me because he spent more time on the job? That was rhetorical and of course the answer is no, but that is the reality of how many people measure productivity, which is wrong, but it is what it is.

I have a young lad who was 28 last year. He worked 180 days for the calendar year and still pulled down $140k. Our model is different, but it works.

I have been researching the market in the south east and I can tell you most mid-market companies are ten years behind where we are in Toronto. I see the exact same circumstances in places like Chattanooga that existed here in the late 90s where most companies feel the need to have internal IT staff, which is expensive and risky. Not only do IT departments have too much downtime in mid-market companies there is also a lot of risk around losing somebody and the investment in them.

Our guys service hundreds of clients, we have primes on each account and secondary guys as well. If the primary guy is absent we backfill with a secondary guy who is already familiar with the environment. If a company only needs somebody one day a week then that's what we provide. And, the problems our guys run into are fixed quickly because we have already seen them in other locations, so we don't have to reinvent the wheel each time. There is value in belonging to the beONix collective, for lack of a better term.

We service multiple platforms George, typically providing horizontal application support. We have never focused on verticals - you can think of us as the plumbers of the mid-market. The attached PDF sums up the focus of beONix. I have an immediate need for people in the south east with an eye towards expanding into other locations where I already have contacts like Nortel in Santa Clara. Maybe I should target Richardson Texas too eh?

Cheers,

Speed

[GzrGldGeo]

Cool Speed. You are selling real value. It will be interesting to see how that plays in the US. Low cost is more important than value with most procurement arms in the US. Less cost seems to equla equal success no matter how much it really cost you. I know you know the drill.

Good Luck!! Sounds like you don't need much, but good luck anyway.

I had some great Nortel contacts, but not sure if any of them are still working. I saw last week where they will be cutting more soon.

[speed]

We most definitely sell value. However, we also offer huge cost savings. Instead of paying somebody $40k a year to sit idle 80% of the time managing IT infrastructure in a mid-market company I can give you a better qualified, better backed, better trained systems engineer for a day a week, with no idle time at a fraction of the cost and still do a better job.

Cheers,

Speed