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Daniel Veniez is back by popular demand. He advised three federal cabinet ministers in Brian Mulroney's government, built his own companies in British Columbia, and was sent in to fix Ridley Terminals, a Crown corporation (a company owned by the Government of Canada) that had lost money for 30 years. He fixed it in 18 months. In part one of this two-part conversation, Joseph Soares puts your comments to him: has Canadian business become too comfortable? For decades, selling into the United States was the smart commercial move, and the U.S. market remains an enormous opportunity. The question is whether it should be the only ambition, and what a company can do about it without betting the business. In this conversation: * Where comfort stops being smart and becomes a habit * Is it fair to blame Canadian business for doing what the market rewarded? * Why productivity is about adopting technology in time, not only inventing it * Why Canadian companies underinvest, and why a tax incentive is not a business strategy * A small diversification test: one customer, one product, one budget line * What to do when a company has no spare capacity, and what smaller businesses can do * What the softwood lumber dispute teaches about depending on one customer CHAPTERS 0:00 Introduction 1:58 Where comfort stops being smart 5:56 Is it fair to blame Canadian business? 8:00 Productivity and the investment gap 13:03 Why Canadian companies underinvest 16:06 A small diversification test 18:44 What if there is no spare capacity? 19:59 What can smaller businesses do? 21:46 Isn't the U.S. still our best market? 22:46 What the softwood lumber dispute teaches 30:25 A trade agreement is not a business strategy Part 2, where we turn the same questions on Ottawa, publishes next week. Watch the first conversation with Daniel Veniez: https://youtu.be/ik1UJrV2M5Q Disclosure: Daniel Veniez appears in Joseph Soares' book, Leadership Under Fire (chapter three), out October 20. He is here on the strength of his experience, not the book. Leadership Under Fire: https://josephsoares.com/book.html?ref=podcast The Corridor Brief: https://brief.josephsoares.com/?ref=podcast Subscribe: https://www.youtube.com/channel/UC3xPTVCe3DHctf_LZTn3gxw?sub_confirmation=1 Joseph Soares built his early career in international business, developing trade and accounts globally, before serving in the Prime Minister's Office of Canada during the 2008 financial crisis and as Chief of Staff in the Senate of Canada during the pandemic. He runs a management advisory firm that helps businesses and governments work through high-stakes challenges. Corridor Intelligence is his analysis programme on power, institutions and decision-making. #CanadianBusiness #Canada #CorridorIntelligence Watch the video: https://youtu.be/sBVn9m2hqEwThank you for listening to Corridor Intelligence.
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