A Money Coach in Canada

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I’m reading a book called Wikinomics.

You know how the music industry has been turned on its head by all these who-do-they-think-they-are artists who skip the Big Major Record Labels altogether and make their own recordings? Create a great MySpace page, get 1,000 true fans, sell directly, and are set for life? Or how more people are leaving IE in favour of Firefox?

Wikinomics argues that this is the way of the future. Bye-bye (and good riddance?) big major Corporations; hello business models based on collaboration and a radical egalitarianism like this T-shirt business. These businesses don’t have to market to you. Instead, they win your trust by delivering the genuine goods – or you’ll hear otherwise on facebook or the blogosphere.

Recently I switched phone providers (landline). Did I go to the corporate websites for their pitch? Not a chance. I surfed blogs and forums and overwhelmingly heard from consumers: Vonage – NOT! Shaw Digital – thumbs up (and for the record I’ve had a positive experience with Shaw).

Q1 for Readers: Will more and more business models be based on collaboration, including customers in the design of their product, and gain customers by grassroots marketing? What do you think? Are corporations going the way of the dinosaurs?

Q2 for Readers: What sources do you use for purchase decisions? Do you think businesses generally give an honest story in their marketing? Or are you cynical, and opt for finding out what other people are saying about a product instead?

About the Author

Imagine if Canadians were known for being all over their money. Engaged. Proactive. Getting out of debt. Savvy. Saving. Generous. Nancy wants to help. Nancy started her own journey with money over 15 years ago, and formed her company “Your Money by Design” in 2004 to help others along the same path. It’s not the usual financial advising/investment stuff. It’s about taking control of day-to-day finances –managing monthly cashflow effectively, spending appropriately, getting out of debt, saving. If you're ready to take control over your finances, pop by her business site, YourMoneybyDesign.com


  1. Angela

    Hi Nancy! I have been reading your blog for some time but this will be my first comment to you. But to answer your questions….

    A1: I don’t think corporations are going the way of the dinosaurs. Rather, I think they would find ways to survive by finding out what customers want. And if they need to develop a new brand just so that it could appear like a grassroots business, they would do it. Think of PC Financial… Actually, it’s CIBC collaborated with Loblaws. Surely, CIBC would never use its own name to offer higher interest saving accounts? And I don’t think many of the PC Financial’s customers (myself included) think that they are banking with CIBC.

    A2: I have recently opened a saving account with Citizen Bank because of your blog! 😉 I am going to move my saving account at ING Direct over there. I’ve some crappy services at ING, plus the interest rate is higher at Citizen Bank. So, I guess you know my answer. I don’t listen to commercials. I believe that whether I get good service is up to individual staff members. I have experience getting the best service from one of the big 5 banks, but I also have some bad experience with small companies. So, I usually listen to what other people say about a product first.


    Mar 11, 2008
  2. @Angela – no way! A virtual high-five – really glad you’re part of the CB clan!
    You’re probably right – corporations will adapt. I don’t actually have a hate on for corps. per se. If they find ways to redefine themselves in a way that’s good for their customers and good for their neighbours all the more power to them. I do think we live in extremely interesting times though. And I guess the inner anarchist in me (not seriously. well, sorta not) really enjoys seeing the new businesses models that are popping up.
    ps – Thanks too for chiming in on my blog.


    Mar 11, 2008
  3. Don Tapscott, author of Wikinomics, has teamed up with nGenera to take the lessons from the book into the world of corporate decision makers. http://is.gd/aVt nGenera stands for Next Generation Enterprises. The link is to their recent release about their new name and offerings.


    May 01, 2008
  4. @Mike – thanks for dropping by and the intel! Great blog, btw, and tx too for pointing to Pink.


    May 01, 2008

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