Interested in starting your own entrepreneurial journey in business development but unsure what to expect? Then read up on our interview with Cheryl Dyck, President, and Founder of MSI Action Group / CASS Consulting Inc., located in Calgary, AB, Canada.

What's your business, and who are your customers?

We are a business and IT consulting company that helps business owners and their teams to grow and expand their businesses. I have been a business and IT transformation specialist for 35+ years. I understand how difficult it is for business owners to start and grow a business from scratch.

Our customers are our partners. Our target clients are privately owned, small to large businesses with 5+ team members and a growing revenue stream of 250K or higher. I understand the stresses and challenges they face that employees and third parties don't always understand.

My goal with my clients is to help them grow their business and then help them build a succession plan to transition it to another to carry on their legacy into the future. It can be lonely at the top of a business, and my team and I help to support the owner, give an outside perspective, give additional strategic and planning support and guidance, and provide extra hands for implementation or management as required. With our support, business owners feel empowered to take their business to the next level and be more successful. Whether we are consultants providing hands-on support, fulfilling interim executive roles, or in advisory capacities, we support the owners as much or as little as they need.

Tell us about yourself

I have been in business for 35 years. I started in the corporate world, quickly moving up into leadership and management roles and inspiring my teams to excel beyond the company's expectations and targets. In 1990 I started my own consulting business, and my family and friends thought I was nuts for leaving my secure executive management job. However, I wanted to do more and have control over who I worked for and the hours I worked. Funny enough, I consulted back to the three companies I had previously worked for in a consulting role running the same groups I had run before and with more control of my life. Also, do you know, as a consultant, I was treated with more respect for my expertise than when I was an employee -- huge lesson learned! Since then, I have consulted 100s of companies and have had so many success stories!.

Helping business owners and their teams is what gets me going! I feed off the energy of helping others and seeing their success grow. As they grow and learn, so do I and my team. I continually learn new things for each client that I use with the next clients. So rewarding and powerful!

What's your biggest accomplishment as a business owner?

There are too many accomplishments to name them all. I have to say, in the last five years, though. The biggest accomplishment is helping business owners who are baby boomers, like me, to build a succession plan and then execute it to transition their successful businesses to the next owner or generation within their family or sell to their employees. So rewarding to see them transfer it on and build a legacy.

The second accomplishment that I would like to highlight is successfully helping businesses to find sources of funding to grow their business. During the past 2.5 years, this has been especially important to help businesses navigate and survive and grow through the COVID Pandemic. So many did not survive, but all the businesses I was helping did. So rewarding!

What's one of the hardest things that come with being a business owner?

The hardest thing about being a business owner is that you are responsible for everything that happens in the business. You are also the one that is responsible for paying all the bills, bringing in all the revenue, and paying the staff. It is a big responsibility but so rewarding. It can be very stressful too. I always focus on goals and what I can control and use planning and strategy to get through the tough times. I have learned to let go of what I can't control and focus on the things I do well and can control.

What are the top tips you'd give to anyone looking to start, run and grow a business today?

  1. Keep tight controls on cash flow and spending. Don't spend without planning for upcoming expenses. If you don't have a cash flow projection/plan, then get someone to help you so you are in control of what is happening. If you have someone helping, make sure you get an update/review on a regular basis and know your bank account and financials -- it is critical to your success.
  2. Hire a great team, train them well, and keep them informed, even through the tough times. It is so much easier with a team to work through things. It is amazing how people will support each other if they understand what is going on. I have seen amazing teams, and they even stuck through the tough times with delays in pay in companies to come out the other side and share the celebration of success!
  3. Don't be afraid to ask for help and surround yourself with experts who can help you and support you. You don't have to go it alone. It is actually way better if you don't, and you can do it with support. Celebrations are much more fun too. That support team can often see things, options, choices, and solutions that you may not see because you are so close to the company. Build a strong, trusted team of Advisors!

Is there anything else you'd like to share?

Building your own company is very rewarding. Do your homework beforehand. Start the business while you have an employee paycheque to support your basic needs. It is so much easier when you have that financial burden taken care of. Then when things get rolling, you can decide when to go 100% in your new business venture.

Suppose you need funding to start or grow the business. Get the funding while you are still employed and make sure you take care of your credit reports -- they are critical to your business too. As the owner, your personal profile is key to the business and how banks and investors look at it.

Where can people find you and your business?

Website: https://msiactiongroup.com/
Facebook: https://www.facebook.com/ConsultantCherylDyck
Twitter: https://twitter.com/cheryldyck

If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.

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