small business week

Transcription

small business week

2
AMH E R ST D A I LY N EW S
Tuesday, October 18, 2011
SMALL BUSINESS WEEK
w w w. c u m b e r l a n d n e w s n o w. c o m
A green investment worth making
Bembridge touts converting to solar power
5242513
AMHERST – Jeff Bembridge
second floor and two dishwashhas been a big fan of green eners in the restaurant.
ergy for years. So, it was no surUsing solar energy last year,
prise when he had the
resulted in him only using three
opportunity that he jumped at
tanks of oil.
the chance to go green with two
“The doors are opening and
of his Amherst businesses.
closing all day and the dishAs an astute business owner
washers are going non-stop,”
anxious to take advantage of
Bembridge said. “Despite that I
any opportunities to reduce the
still managed to only use three
cost of energy, Bembridge has
tanks of oil last year. In previous
converted to solar power to
years I would use six tanks of
oil.”
heat water at Bambino’s PizzeHe has also seen a difference
ria and Duncan’s Pub and he’s
at Bambino’s, so much so that
about to do the same for his
he had run out of natural gas in
home.
his water heater but still had
“I have always wanted to use
hot water for quite some period
solar power because it makes so
because of the presence of the
much sense,” Bembridge said.
solar panels on the roof.
“There’s so much free energy
He estimates the investment
out there to be harnessed. To
in solar energy at Bambino’s has
me, when I see wind generating
already paid itself off while at
sites or solar collectors I get exDuncan’s Pub he expects to
cited because it shows a lot of
have it paid off within a few
environmental responsibility.”
years.
The way the system works is
“An indication of just how efsolar panels on the roofs of both
ficient it is, is the fact I was still
buildings heat glycol-filled Jeff Bembridge, who owns both Bambino’s Pizzeria and Duncan’s Pub, has seen a huge difference in the energy efficiency of both
getting 100 degrees off my tubes
tubes. A pump circulates the businesses since converting to solar power to heat water.
in February, the coldest month,”
glycol through the tubes that are
he said.
heated by the sun or the ambicomes out of the ground at 56 or 58 degrees BTUs to heat that water,” Bembridge said.
More than energy savings, though, Bement temperature outdoors. The heated gly- and most people heat their water to 120 or
Bembridge has about 4,500 square feet in
col then heats water tanks in the basement. 140. If I can increase that water temperature the building that houses Duncan’s Pub on bridge likes how environmentally friendly
“From what I understand the water to 80 degrees by using solar energy I use less the first floor as well as apartments on the the solar technology is.
SMALL BUSINESS WEEK
Experts share secrets for managing
a profitable, fast-growing business
All entrepreneurs
face challenges
C
hris O’Donohue didn’t want to be like
those other landscapers, driving around
eyeballing sites and coming up with job estimates that might — or might not — make his
company any money.
It wasn’t as big an issue when he started
Great Canadian Landscaping back in 2000
with a single pickup truck and a few small contracts.
However, when a contract is for a $200,000
backyard makeover, finding out that you’ve
mistakenly underbid an estimate can cost you
thousands of dollars.
“At first, I didn’t realize that technology
could provide the solution,” says O’Donohue,
who has built Great Canadian into a bustling
year-round business in North Vancouver, B.C.,
with 30 employees and eight trucks running in
the high season.
“It has taken the guesswork out of estimating and made our operations more efficient
and productive.”
All entrepreneurs face challenges in their
business. But not all realize that information
and communications technology (ICT) provides a range of user-friendly tools for better
This software will save us
about $130,000 annually
in salaries. As an investment,
it was a no-brainer.
Chris O’Donohue, Great Canadian
Landscaping
managing everything from inventory control
and operations to accounting, human
resources, communications and customer
relationships.
Hunches can now be replaced with accurate information delivered in real time, equipping managers to make better decisions and
improve their company’s performance.
Entrepreneurs understand the need to
invest strategically. A 2010 survey by the Business Development Bank of Canada (BDC)
found that most business owners plan to
invest in new equipment, including ICT, as a
way to improve productivity and remain competitive.
“ICT brings efficiency and speed to an
organization,” says Jean-René Halde, president
and CEO of BDC. “It provides tools to better
manage and analyze information about your
clients, your finances and your operation. For
most, highly functional websites have also
become a critical sales channel.”
For Great Canadian, it was a bottom-line
decision. Its estimating software takes into
account overhead costs, the price of goods and
other hidden expenses, ensuring that every job
is profitable.
The company purchased a second software
package to improve productivity and better
manage its crews. Instead of clocking in at
the office, O’Donohue’s crews are now clocked
in at the work site by their foreman,
who is equipped with a smart phone. They are
also clocked in and out at lunchtime. Savings
on unproductive time and overtime are
huge.
“We were paying people for a lot of travel
time that wasn’t necessary,” he says. “This software will save us about $130,000 annually
in salaries. As an investment, it was a nobrainer.”
Great Canadian also uses GPS capabilities
on each truck and smart phone to track crews
in real time. If a customer calls to ask whether
a job has been done, O’Donohue can tell him
or her the exact minute that workers arrived at
or left the site.
Despite the benefits, too many entrepreneurs put off ICT investments, fearing ICT is
too complicated, too expensive or not what
they need. Cost is usually the biggest deterrent
until entrepreneurs realize that most solutions
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3
are now software driven and affordable for
even the smallest companies. Some are even
free.
“ICT and Internet-based solutions can be
scaled for any size of company,” says Todd
Madgett, director, Small Business, Cisco Canada. “With the advantages of new network and
cloud-based services, and hosted and managed services, the cost of equipment that small
entrepreneurs need to invest in is limited.”
Many entrepreneurs also worry about making a bad investment. Halde says companies
can reduce this risk by first clearly defining
their needs, and then taking the time to thoroughly investigate and evaluate the different
ICT options.
“Talk to more than one vendor and other
companies that have done this before. It also
may be worthwhile to invest in some professional advice,” he says. “And be careful about
buying the latest gadget. Cutting-edge technology usually is not for companies with limited resources.”
O’Donohue acknowledges it takes time and
money to set up and implement ICT solutions,
but says it’s not as expensive or complicated as
entrepreneurs fear, and the returns can be significant.
“You will usually recoup this investment in
a year or two. Even before then, you’ll see how
it is reducing costs and making your operations more efficient,” he says. “It’s been a big
factor in our company’s growth.”
Cumberland County’s
#
1 Shopping Destination
A.P. Reid Insurance
Lezah’s Hair & Esthetics
Ardene
Mark’s Work Wearhouse
Bell-Aliant
Northern Reflections
Bentley Leathers
Pay A Dollar
Bluenotes
Pets Unlimited
Canadian Tire
Rogers Wireless
Carlton Card Shop
Scotiabank
Charm Diamond Centre Sears
Coles The Book People
Shopper’s Drug Mart
Cormier’s Lotto Booth
Sobey’s Food Store
Easy Home
Target Apparel
Eclipse
Telus Mobility
F&K Computers
The Source
F.Y.I. Doctors
Tim Horton’s
General Nutrition Centre Wicker Emporium
Zellers
Gordons Ladies Wear
And More...
142 So. Albion St, Amherst, Exit 4
SHOP
HO 7 DAYS
HOP
DAY • M
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d F id
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Saturday 9am-6pm • Sunday 12 Noon-5pm
5242503
902-667-2435
www.crombiereit.ca
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SMALL BUSINESS
p WEEK
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Don’t ask for Benny when you visit Bargain
Bennies. Charlie Rhindress inherited the name
when he bought the business 23 years ago. He
has also embraced the promise it implies.
“Everything’s a
good buy,” he
said, when asked
if any particular
item of bedding –
mattresses and
box springs – furniture or appliances was a steal.
Prices aren’t
written in stone,
either.
“Drop in and
see us,” he said.
If he can move
on a price, he
will.
The prices may
be bargains, but
the goods aren’t
cheaply made.
“We try to stay Canadian,” said the owner.
The family-run business carries brand names
like Whirlpool, Inglis, GE and Moffat. They recently secured distribution rights to sell
Frigidaire, too.
The friendly retailer located a certificate behind the counter: In 2010, the retailer sold
more Springwall Chiropractic mattresses than
any other shop in Cumberland County.
That’s not the only award. In 2009, they were
named business of the year by the Chamber of
Commerce.
Bargain Bennies wants to provide value to
customers, said Rhindress.
“Service, quality
products, pricing.”
He knows price is
top-of-mind for
customers, “with
the economy the
way it is today.”
To help take the
sting out of big
ticket purchases
like furniture,
mattresses and
box springs the
shop is offering
no tax on those
items. He pointed
out that when he
advertises a sale,
he makes sure he
has “the stuff in
stock.”
Work divides
some families.
Bargain Bennies brings Rhindress’s family together. Wife Judy, son Mark, and son-in-law
Brian all work for the company. The customers
are regulars, too. He figures about 70-per cent
of his business is repeat.
Twenty-three years. He’s on his third generation of patrons, he said. What motivates Rhindress after more than two decades in
business?
“Meeting the people,” he said. “(The work)
is interesting.”
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5242518
SMALL BUSINESS WEEK
5
Real world innovation for real world companies
J
eremy Gutsche knew there had to be
a better way. The upstart Toronto
publisher launched Trendhunter.com
in 2008 but couldn’t afford high-priced
journalists to write articles and manage a global network of contributors.
The solution Gutsche came up
with was the Trend Hunter Academy.
Student interns exchange their labour
for the opportunity to learn about
marketing, journalism and social
media at what has become the world’s
No. 1 trend-spotting website. After
four months, they receive a $1,500
Jean-René Halde
stipend and a certificate in digital
journalism and social media to add to
their new job-winning skills.
new market I can tap? Can I improve the quality of
Some even get full-time jobs at the
Jean-René Halde
my management information? What are my comcompany.
“That’s an example of a creative solution,” says Gutsche, an petitors doing that is new and different?”
Innovation doesn’t have to mean inventing new high-tech
innovation guru and recession-era success. “Our student
interns publish nearly 1,000 articles, get a couple of million products, Halde adds. Most innovations are incremental:
views for their portfolio and learn cool social media tech- improved products, streamlined business processes, a
niques. It keeps our editorial costs down and helps our organi- more advanced piece of equipment or a new marketing
approach.
zation stay young, vibrant and innovative.”
A recent BDC survey found that three-quarters of Canadian
Bolstering small business innovation has become a top priority for governments and business groups across Canada. entrepreneurs say innovation is a priority for their firms. HowReport after report has concluded that Canadian companies ever, less than 10% have developed and implemented a formal
can boost their revenues, increase productivity and reduce innovation strategy. While intentions are high, action remains
costs by improving their offerings and the way they do busi- low.
Gutsche’s Toronto-based company offers a global response
ness.
The innovation challenges are well known. What is needed to that challenge. Boasting 35 million monthly views, Trendnow is action, says Jean-René Halde, president and CEO of the hunter.com has become the go-to site for innovative ideas in
business, technology, pop culture and fashion.
Business Development Bank of Canada (BDC).
Detailed data are packaged into reports used by large cor“No matter what business you’re in, or how small your company, innovation needs to be a key part of your business strate- porations such as Pepsi, Microsoft and Google to kick-start
gy and something you think about on a daily basis,” Halde says. innovation.
“Our level of automation makes it possible to produce 10
“What innovation is happening within my sector? Is there a
No matter what business you’re
in, or how small your company,
innovation needs to be
a key part of your business
strategy and something you
think about on a daily basis.
times more data than our closest competitor, and with just one
editor to manage the content,” says Gutsche, whose meteoric
five-year rise has earned him plenty of accolades, including a
BDC 2011 Young Entrepreneur Award.
All business owners will acknowledge they could always do
something better in their business, but where to start? Halde
recommends a “3D” approach: decide to make innovation your
competitive edge, discover what your customers need and then
do it.
“Innovation will not happen by accident,” he says. “It takes
human resources and capital. But the risk of doing nothing will
be much higher, because you can be sure your competition isn’t
standing still.”
Prof. Becky Reuber, an expert on entrepreneurs and
innovation at the Rotman School of Management, says this
requires a customer focus from everyone—no matter what
their job.
“Discovering your clients’ needs requires systems, whether
formal or informal,” she says. “Your employees interact with
customers daily. How are you bringing that knowledge back
into the company so that everyone can benefit from it?”
Innovation also requires leadership, Reuber adds. Business
owners need to be champions for doing things better in their
company.
An advisory board can help entrepreneurs provide that
leadership by challenging them to think of new initiatives and
how best to execute them, Halde says.
Companies should also consider putting aside a special
reserve to finance new ideas, suggests Gutsche. In the 1990s,
the BBC had no hit shows and was losing viewers. It decided to
create a dedicated pool to fund its riskier ideas. The first big
winner? The Office, which failed the normal screening process
yet went on to become one of the BBC’s biggest hits.
“Another reason we created Trend Hunter Academy,” says
Gutsche, “was to ensure this constant supply of new people
with new ideas. At the end of the day, that culture of innovation
can become your company’s most powerful competitive
asset.”
CROSSROADS
IF YOU HAVE NOT SEEN US YET
Come experience our
NEW LOOK!
• Over 700 NEW items!
• Expanded produce grocery,
frozen foods and deli departments
• NEW organic & natural foods
from Speerville Mill
• NEW bird feed section
• NEW Wine & Brew section
• Fruit baskets for any occasion
• Party trays (fruit, vegetable and meat)
• Live local lobster (when in season)
• Lottery tickets
• Co-op Gift Cards
• Water refill station
• Propane exchange program
• Delivery service available
• Bakery
Remember to support local business. It keeps our town viable and our
residents employed. Crossroads Co-op takes every opportunity to support
local charities, sports and cultural activities. In the past 4 years Crossroads
Co-Op has donated over $12,000 in OUR community. Also, this past year we
have raised over $10,000 in our 50/50 draw - $5000 which has been paid out
to multiple Members, and $5000 going to Local Groups, Parrsboro Food Bank,
Fire Works Committee, Relay For Life, Leo Club, DARE Program and the
Parrsboro Band Hall. We also do many things for our School, Minor Hockey,
Pre School and Cadets to name a few.
We are proud to say that we support our community and give back.
HELP US HELP YOU BY SUPPORTING YOUR LOCAL CROSSROADS CO-OP.
Some of the many specials starting
Oct. 21st -27th
Coke Products 2L
McCain Pizza
Co-op Value Pack Granola Bars
Striploin Steak
Buy 1, Get 1 Free
Old Dutch Halloween Chips
4/$5.00
$3.99
$3.99
$11.98/lb
$3.99 a box
(24 X 16g)
Also watch for our member appreciation
day coming November 25th - 26th
HOURS OF OPERATION / HEURES D’OUVERTURE
Monday to Wednesday:
Lundi à mercredi:
8:30 am to 8 pm
8 h 30 à 20 h
Thursday to Saturday:
Jeudi à samedi:
8:30 am to 9 pm
8 h 30 à 21 h
Sunday:
Dimanche:
12 pm to 5 pm
12 h à 17 h
Crossroads Co-operative Ltd
44 Main Street, Parrsboro, NS B0M 1S0
5257272
6
SMALL BUSINESS WEEK
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Check out our website at www.windjammer2000.com for more information on our products
Windows Not Created Equal
AMHERST – Rob Janes is under the gun.
“It’s hair-pulling season,” he said.
Janes is the general manager of Windjammer,
a local and independent manufacturer of
windows and doors. Fall is their busiest time
of year.
“People come back from the cottage and
want new windows installed before winter
hits,” said Janes.
Not that he minds the business. The work
keeps 15 employees busy. Everything is
manufactured on-site.
The technology
changes every day, he said. (One of the latest
offerings is coloured vinyl in almost any
shade).
Windjammer sells quality and service, said
the general manager.
“I stick to my guns on quality,” he said, “…
(and) if I know there’s
a problem, I’m over
there.”
Janes is forthright
about his frustrations
with the industry.
Windjammer
has
been in business since
the 70s. In recent
years, there’s been an
explosion of window
suppliers in the Maritimes. But the quality of
many is suspect.
“The market’s getting over-run by inferior
doors and windows,” he said. Consumers
find a cut-rate price and expect Janes to match
it. But the quality isn’t the same, said the
manufacturer. Cheap windows can warp or
experience seal failure, and the materials can
be poor in quality, whether it’s screws that
corrode or recycled vinyl that degrades
quickly.
“It’s a big investment,” he said. Which is why
Windjammer offers a 50-year guarantee on
their Pro-Tech vinyl material products (which
is superior to a lifetime guarantee, which is
only 25 years).
The company received an Excellence in
Customer Service from the Chamber of
Commerce (they’re a member) in 2008.
“We take care of people,” he said. He related
a recent encounter with a customer who
invited him into her home to see three doors
she wanted replaced. He told her one needed
to be taken out, but the other two were still
good – they just needed refurbishment.
“I just don’t have it in my conscience to sell
people things they don’t need,” said Janes.
5240471
SMALL BUSINESS WEEK
7
An online strategy to build your dream business
For many businesses,
an online presence is
as important as a telephone
W
A website is a storefront
that’s open to customers
around the world 24/7.
hen Pierre Martell started his home
Michel Bergeron
building business in 2006, he
believed he could stand out from the comIn fact, a 2007 Statistics Canada study found
petition if he could persuade customers he
that only 40% of Canadian businesses had their
would deliver on time and on budget.
own website. “This is still quite low in an era when
But how to do it? The answer was an
an increasing number of customers rely on sourconline strategy that combined a sophistiing and purchasing a wide variety of goods and
cated website with the adept use of social
services from the Web,” says Michel Bergeron, vice
media.
president, Corporate Relations, at the Business
The customers of Martell Home
Development Bank of Canada (BDC).
Builders can follow the construction of
“A website is a storefront that’s open to custheir home day by day on the custom-built
Michel Bergeron
tomers around the world 24/7,” Bergeron says.
site. At the same time, they — along with
“Depending on your business, you have to decide
prospective customers — can interact with
the Moncton-based company via social media and take advan- what you want your website to do. Maybe you want to provide
tage of online information on home construction and owner- more information about your offering, generate sales leads or
simply sell online.
ship.
“Whatever you decide, your site should be well planned,
The results have been dramatic. In a few short years, Martell
has built a booming business that owes as much to his savvy well designed and frequently updated, so your potential cususe of the Internet as it does to hard work and craftsmanship tomers can find your company and quickly understand your
value proposition.”
on construction sites.
At Martell Home Builders, a major part of the online experi“We started using the Web and social media because we had
no marketing budget,” Martell says. “It turns out they’re incred- ence is a password-protected area where not only clients but
ible low-cost tools that enable us to be accessible and trans- also skilled tradespeople, suppliers and other participants can
parent and to build our credibility as thought-leaders in our find information on the progress of a home’s “99-day construction countdown.” Photos are updated weekly and clients can
industry.”
Today, an online strategy is critical to the success of most even have a webcam installed on site to watch their house go
small and medium-sized businesses, especially when it comes up in real time.
Having everyone on the same page eliminates miscommuto finding and serving customers. It all starts with an attractive,
user-friendly website. However, too many businesses have a nication, delays and cost overruns. Martell estimates cost savings of 30% over traditional project management techniques
static, poorly designed site—or no site at all.
and says that without the technology his company could only
build about five homes a year. This year, it’s on track to build 65
on time and on budget.
In more than 200 builds to date, the company has never
missed a closing date and, according to Martell, has never gone
over budget.
At the same time, Martell, 30, has done a good job on website basics, such as prominently displaying contact information
on each page. And he makes extensive use of more advanced
marketing techniques, such as blogs, YouTube videos, Twitter
and Facebook feeds, and online advertising.
In social media, Martell’s use of Twitter has proven particularly successful in connecting him with homebuyers and generating sales leads. Before social media, the company would
invest an average of nine hours to convert a prospect into a customer. Now, it can take as little as 40 minutes.
“Social media has allowed people to get to know us and
trust us before we physically meet them,” says Martell, who has
some 13,000 Twitter followers. “Now when people call, they
already know us and what house they want to see.”
Digital media expert Soniya Monga says more companies
need to view social media as business tools that can strengthen customer relations, attract new prospects and build a company’s brand.
“There’s a lot of misconception that Twitter and other social
media are a one-way type of broadcast mechanism, rather than
a business tool that allows you to connect one-on-one with
like-minded people,” says Monga, who works with LinkedIn’s
marketing solutions team.
At Martell, the website and social media have worked
together to support the branding strategy goals of the company.
“Our whole business strategy is all about being transparent
and caring — me as a person, our team, our company—and
delivering that experience each and every time,” says Martell,
winner of a 2011 BDC Young Entrepreneur Award.
“The Internet allows us to get that message out and reinforce it in a cost-effective way.”
Elliott’s Welcome Home Special
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AMHERST HOME
HARDWARE
2 SPRING STREET, AMHERST
902-667-3682
Willie MacDonald and son, Elliott, look over one of the infrared heaters for sale at Amherst Home
Hardware on Spring Street. Elliott has returned to the business after eight years at Amherst Chrysler
and will eventually take over the store from his father. Darrell Cole – Amherst Daily News
AMHERST – After eight years on his own Elliott MacDonald is coming home.
When he was younger, MacDonald spent time working for his father at Amherst Home Hardware. However, instead of going right
into business with his father after school, MacDonald went out on his own working at Amherst Chrysler.
Now, he has returned to Home Hardware to learn the ropes so to speak and will eventually take over the business when his father,
Willie, retires in a few years.
“I have to admit I was a little nervous at first about coming back to the business because I had been out of it for a few years, but it
wasn’t that hard at all. It all came back to me quite quickly,” Elliott said sitting in the Spring Street store’s office.
“It is a change coming back but it’s something I grew up around and it’s in my blood. Dad has had Home Hardware since I was a
child. The more I thought about it, it wasn’t that big of a decision, I feel at home here.”
MacDonald said he enjoyed his years working at Amherst Chrysler and was quite comfortable with his career. When longtime Home
Hardware employee Frank Holland left to accept a position in Grise Fiord, Nunavut, MacDonald’s father approached him about
returning to the store.
“Dad had been asking me over the last few years to come back but the timing wasn’t right,” he said. “With Frank moving on the
timing felt right.
“I’m glad I had that little bit of separation of going to Chrysler because it helped me appreciate what we do here a lot more. I wouldn’t
have that if I’d stayed here. I really appreciate the time and effort dad has put into making this a successful business.”
He’s looking forward to carrying on his father’s tradition and would like to turn it over to his seven-year-old son some day.
After attending meetings and a home show in Ontario in September, MacDonald returned to the store ready to work side by side
with his father.
MacDonald’s father couldn’t be happier about his son’s return to the business.
“It’s fantastic having him back,” Willie said. “The timing is right for him to get ready to take over. I’m not going anywhere yet, but it’s
definitely in the making.”
With changing trends in the hardware business and increased competition from bigger players like Home Depot and Kent Building
Supplies, MacDonald said his store’s strength will continue to be its customer service. It’s something his father has worked hard to
build over the past three decades and it’s something he plans to continue.
“Service really means a lot to people in this community. They want and expect that one on one, prompt service,” he said. “They like
the convenience of being able to walk into a store like this and find what they need very quickly.”
MacDonald has been very active in the community over the years coaching minor basketball.
Paint continues to be the backbone of Home Hardware with both Beautitone and Benjamin Moore remaining very popular while
Home Hardware’s cleaning supplies are also very popular along with the latest trend in home heating – infrared heaters.
Along with hardware, plumbing and electrical supplies the store also offers key-making and a rental department of equipment for
do-it-yourselfers and contractors.
5250731
8
SMALL BUSINESS WEEK
Small
business
changes
communities
The Town of Amherst has been
investing in infrastructure and
amenities to make Amherst a
better place to live. One of the
many things that makes Amherst
a great place to call home is the
number of businesses located
throughout town. Please
support these local businesses
and keep your money in the
community. To a local business
owner your support and your
purchases make a huge
difference.
SMALL BUSINESS WEEK
9
Amherst remains a vibrant community
with small business playing a prominent role
in fueling the town’s economic engine. The
town recently made a $3.6-million investment
in the downtown partially to support the role
of small business in creating and supporting
jobs in the community and enhancing
Amherst as a place to live, work and do business.
AMHERST – The backbone of Amherst’s
economy has long been those small business
that create jobs, drive innovation and increase
competitiveness in the community.
As the town moves ahead with its multi-million-dollar Centre First Downtown Action
Strategy, municipal officials are confident it
will help create a climate in which small business will flourish.
“Small business is the strength of our economy. If you have a strong small business base
you have a strong economy,” Mayor Robert
Small said. “In Amherst, all our businesses are
either small or medium-sized. We don’t have to
rely on or at the mercy of the New Pages.”
Small said small business creates 60-80 per
cent of the jobs in Canada with 41 per cent of
private sector employment coming from companies that employ less than 20. As well, 45 per
cent of the country’s gross domestic product
comes from those small business.
For Amherst, that translates into an economic engine that includes the Amherst and
Area Industrial Park that employs about 1,800
people in Nova Scotia-owned and operated
firms such as LED Roadway Lighting, IMP
Aerospace, Maritime Pride Eggs and Polycello.
“We have aerospace, plastics, food processing, distribution and electronics subcomponents assembly in our industrial park,” the
mayor said. “We have a very diverse industrial
and commercial sector and it shows in the
number of people who go to work every day in
the industrial park, along South Albion Street
and in the downtown.”
The mayor said business has shown confidence in Amherst by expanding in the industrial park while the retail sector has also seen
tremendous growth over the last decade despite uncertain economic times nationally and
globally.
The addition of Wal-Mart provided the
spark that has attracted additional traffic to
Amherst from throughout Cumberland
County and into southeastern New Brunswick.
It also spurred the Atlantic Superstore to expand its facility with a new store while Sobeys
also expanded in the Amherst Centre Mall,
which itself underwent a huge makeover several years ago.
There have also been renovations and expansions to locally-run businesses such as Tim
Hortons-Wendy’s and McDonalds while a local
business owner took over the old Cumberland
Mall and revamped it into the Amherst Town
Square Mall that houses several businesses and
recently became the home of the Amherst
satellite campus of the Nova Scotia Community
College.
Now, he said, the town has invested $3.6
million in its downtown to support small busi-
ness.
“With the investment in the downtown we’re
working to improve what’s already a very vibrant area,” he said. “Our next step will be to
work to encourage more businesses to come to
Amherst, including the inclusion of more retail
opportunities in the downtown and throughout the community.”
The mayor said there already is a diversity
of businesses in the downtown including anchors like Dayle’s Department Store, Mansour’s Men’s Wear, Pugsley’s Pharmacy and
Duncan’s Pub.
There is also a mix of professional, financial
and government services including the Department of Indian and Northern Affairs’ Atlantic
office, Community Services and Service
Canada, banks, insurance and lawyers and doctors offices.
Small said there have been several new firms
added in recent years including Flow Lifestyle
Boutique, Deanne Fitzpatrick’s Rug Hooking
Studio, Bella’s Cafe and Damaris Spa & Wellness Centre.
He is also looking forward to the development of the new customer support centre in
the former Co-op building on Lawrence Street,
solidifying the arts, culture and heritage presence in the town and the completion of the Victoria Square redevelopment.
The town has shown it has a stake in the
downtown by its purchase of the Dominion
Building that presently houses the Tantramar
Theatre and the former Bank of Montreal
building that has been vacant for more than a
decade after serving as the town’s police department.
5240476
10
SMALL BUSINESS WEEK
Fundy Geological Museum:
outside the walls
PARRSBORO – Within the four walls of
Fundy Geological Museum one can find a
treasure of minerals and fossils that define
the geological history of this region, but the
scope of this facility reaches far beyond that.
The life of the museum extends outside
the walls to significant cultural and geological sites such as Wasson Bluff, Cape
Chignecto Provincial Park and Five Islands
Provincial Park, and regular summer field
trips to these areas hosted by the museum
help explain these connections.
“If you look at the museum as a point of
introduction, mostly we’re providing
enough teasers to get people to go out and
take a look at what’s in the area,” said curator Ken Adams. “The overall experience is
not what you encounter within the four
walls, but it’s an opportunity to travel in the
region.”
The revamped gallery, with huge lifelike
photographs and interactive displays, not
only encourages visitors to seek out famous
landmarks such as the Parrsboro harbour
and the nearby cliffs where startling fossil
finds have taken place, but it also directs
them to famous cultural sites such as the
Fundy Geological Museum curator Ken Adams led a number of interpretive walks to sites such as Spicer’s Cove in Cape Chignecto
Provincial Park, and Wasson Bluff near Parrsboro this summer.
Age of Sail Heritage Centre and the
Springhill Miners Museum.
This is no accident, according to Adams,
who considers destinations like these as
“sister sites” and partners. He hopes to
make that linkage between natural heritage
and cultural heritage.
“If you look at the many cultural sites,
they do have some basis in the natural history of the region, whether it relates to the
fisheries or how people settled the communities along the shore,” he said. “For example, there are geological factors that
contribute to harbours and land. By recog-
nizing that most of our cultural heritage has
a natural component, we can make connections with the very wide story of Cumberland County.”
That connection is also part of the aim of
the series of interpretive walks led by
Adams or other museum staff members
during the summer. The educational outings often provide participants with more
understanding of what they are seeing from
a scientific perspective.
The Bay of Fundy area is located where
bits and pieces of the Pangea continent
came together and then broke apart, and
the rocks left behind tell that story and
many others very well. Seeing it in person is
better than reading about it in a book, according to Adams.
“It’s pretty hard to look at things in a
book and try to figure it out without going
and looking at some real examples,” he
said.
This interest in the outside world seems
to be picking up in recent years, he said,
with increased numbers for the interpretive
walks, as well as elderhostels (Road Scholars) and school groups.
Discover Nova Scotia’s Jurassic Past
Browse through our gift shop...
we have many unique gift ideas including
books, clothing, minerals & giftware.
Come enjoy our exciting interactive
displays throughout the gallery!
Check us out on
facebook.
1-866-856-Dino (3466)
162 Two Islands Road, Parrsboro, NS
902-254-3814
http://museum.gov.ns.ca/fgm
5240490
Museum Hours: Monday - Friday 8:30am - 4pm, Saturday 9am - 4pm,
Sunday Closed. (Please call ahead for group bookings)
Visit, call of check our
website to find out more
SMALL BUSINESS WEEK
11
Don’t lose track of your company’s cash
C
ash-flow management is at the heart of
every business, and that’s doubly true in
the rough and tumble world of retailing. Here,
the line between liquidity and bankruptcy can
be razor thin.
Just ask Alexandre Bastide, president of
Underworld Skateboard. The young entrepreneur opened his first store in Montreal in 1995
when he was just 19, and since then has seen
many of his competitors close shop. The reasons were all too common, Bastide says.
“No business plan, buying without a budget, buying too much inventory,” says Bastide,
whose company sells skateboards, accessories
and apparel. “Heck, I wasn’t much better prepared when I started. I relied on my instinct,
not a budget, for my first few years. It worked,
but I was fortunate.”
Bastide has since opened a second store in
Vancouver and is now evangelical about managing cash flow. He says he’s had little choice at
a time of demanding suppliers, extra-cautious
bankers and intense competition from big-box
stores.
One of his key strategies is to develop excellent relationships with suppliers—a prerequisite for negotiating better payment terms during cash-crunch periods.
The observation that cash is king in business is hardly new. That’s supposed to be Business 101 stuff. Indeed, you can Google “cash
flow management” and within the 367,000
results you will find lots of sound, practical
advice on all your cash flow problems.
Then again, maybe not.
“All that information won’t do your company much good if you don’t understand how
It’s important to monitor the key indicators in your business
— things like your bank account balance, accounts receivable turnover,
inventory turnover and sales growth.
Peter Brown, National Leader, Private Company Services at Deloitte
money flows in and out of your specific business,” cautions Edmée Métivier, executive vicepresident, Financing and Consulting, at the
Business Development Bank of Canada (BDC).
“There are a lot of recipes out there for managing cash flow, but where too many entrepreneurs fail is in understanding how to
adapt those recipes to fit their particular business.”
As a first step, Métivier says companies
need to understand and embrace three principles of cash flow:
1. Understand how cash flows in and out of
your company, and how that fluctuates
throughout the year.
2. Establish, and continuously update, a 12month cash flow projection. Think of this forecast as an early warning system that will help
you have enough cash on hand to ride out slow
periods.
3. If you don’t understand 1 and 2, get
expert advice. Your business depends on it.
Put simply, positive cash flow means having more money flowing into your business
than flowing out. Business 101 stuff for sure,
yet not having enough cash on hand to pay
bills is still one of the most common reasons
companies fail.
“There are some basics of business that you
just can’t miss, and unfortunately too many
people do,” says Peter Brown, National Leader,
Private Company Services at Deloitte.
Brown stresses that no company is
immune from the impact of a recession or a
fluctuating Canadian dollar. But for most businesses, cash flow is generally predictable.
“It’s important to monitor the key indicators in your business — things like your bank
account balance, accounts receivable
turnover, inventory turnover and sales
growth,” he says. “Paying close attention to
these metrics on a daily basis will help predict
whether your company will have a cash issue
or not.”
There are practical ways to prepare for
cyclical cash shortages. Métivier says companies can, for example, offer customers discounts for paying invoices early. Taking out a
line of credit or term loan is another option.
But don’t knock on your banker’s door when
your company is bleeding red ink, Métivier
stresses. “Approach them when your balance
sheet looks strong.”
One common mistake companies make is
using their working capital to pay for longterm investments, such as new equipment,
facility expansions or moving into new markets. You’re better off using debt to finance
these projects, or refinancing fixed assets to
free up capital, Métivier says.
Bastide financed his Vancouver expansion
with a loan from BDC, a loan from his landlord
and a personal line of credit. He also sought
expert advice, something too many entrepreneurs are either too proud or too frugal to
do.
“Entrepreneurs are very proud people, and
many believe, particularly when they start up,
that they can handle everything themselves,”
Métivier says. “Don’t be afraid of a little humility — talk to an accountant or a consultant.
Both you and your business will be stronger
for it.”
TIPS FOR BUILDING YOUR CASH FLOW
Develop a cash-flow planner and track
cash throughout the month
Closely monitor financial statements
Build good relationships with customers
and suppliers
Collect payments faster and pursue late
bills
Focus on inventory management and product offerings
Use debt, not working capital, to finance
fixed assets
Use a line of credit, or your own money, to
increase your working capital
Refinance your fixed assets
Cut waste and streamline operations
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AMHERST – Car sales are
in Rob MacDonald’s
blood. His father had a
Pontiac dealership in
Moncton for 35 years.
His son, who recently
graduated from Saint
Francis-Xavier University,
is being groomed for
Rob’s spot running
Cumberland Honda.
It’s the people that keep
MacDonald interested in
the business.
Customers.
Happy customers.
“It’s an easy product to
sell, it’s an easy product to
service.”
A little harder to sell this
past year, granted, due to
delays getting parts from
Japan. The island nation
has been racked with
misfortune recently, what
with an earthquake and
tsunami, and a prolonged
nuclear incident.
The manufacturer hasn’t
rested, though.
“Honda’s had to be
aggressive,” MacDonald
said.
To keep customers
motivated to buy,
dealerships are offering
0.9-per cent or rebates of
up to $4,000 on many
models.
Delivery of a Civic takes,
on average, four to six
weeks, he said. The
economical model
accounts for half of
Cumberland’s business.
The dealership owner said
the Civic is on track to be
the top selling model of
car in Canada for its 14th
year in a row.
“Quality, reliability and
resale value,” said
MacDonald when asked
to name the strengths of
his brand.
But the business owner is
willing to let his staff take
some of the credit for the
dealership’s success.
“We’re an easy dealership
to do business with,” he
said. “I feel I have a terrific
service department.”
“Most of my staff has
been with me 20 years,”
said MacDonald.
This is Cumberland
Honda’s 20th year. There
has been a car dealership
in their South Albion
Street location for 60
years.
Honda is pursuing
opportunities in hybrid
technology, too.
MacDonald said the
difference in price
between standard and
hybrid cars has come
down. The Insight lists for
about $23,000, compared
to a similarly appointed
Civic at $21,000. The
Insight gets 64 mpg
highway, and 52 mpg city.
5240460
12
SMALL BUSINESS WEEK
Build your next home with Tranquility Homes
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Everything from counter tops to flooring, siding
and accents, to the very floor plan is up to you to
make the final say on, Tranquility Homes president
Steve Leblanc says.
“Thirty years ago it was a cookie-cutter industry. It
was a book with plans; you picked one and that was
that. Usually the homes were already built and you were
just deciding which one you were buying,” Leblanc says.
“Today, we custom build your house. The floor plan is
just a guideline for what we can do – you can take the
front entry from one and put it on another.”
Selecting a prefabricated design, Leblanc says, is
an option but the majority of customers are putting their imaginaFrom the deck to the dining room, Tranquility
tion into their home purchase and
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coming up with one-of-a kind
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dwellings.
“In the eight years I’ve been doing
this I’ve sold maybe three right out
of the book. The rest have been custom designs.”
Getting into one of Tranquility
Homes’ products is much easier than
a lot of people would think, too.
“The process is extremely easy
with modular homes. Banks like us
because when we quote a price,
that’s the price,” Leblanc says. “Come
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SMALL BUSINESS WEEK
13
Tapping international markets makes good business sense
Entrepreneurs face
a world of competition
A
n international plan wasn’t top of mind for
Stephen Hamelin when most of his company’s business was coming from North America.
But when the phone began ringing at Vortex Aquatic Structures from potential customers on other continents, Hamelin quickly
realized his company needed a strategy to
leverage these opportunities to build and sustain new markets.
“We had some sales from various countries
but didn’t have a formal business plan or distribution channel for serving clients beyond
North America,” says Hamelin, whose company is a world leader in making products for
aquatic playgrounds. “Getting established in
foreign markets is a slower process than many
entrepreneurs realize, but if you plan and
you’re patient, it pays off.”
Today’s entrepreneurs face a world of
opportunity but also a world of competition.
That means finding new markets is often a
matter of survival. However, many entrepreneurs aren’t sure where to begin when it
comes to international expansion.
“First, do an assessment of your company’s
strengths and weaknesses, and then consider
why you want to go into a particular market,”
says Frank Pho, vice-president, Global Expansion, at the Business Development Bank of
Canada (BDC). “Is it to increase your revenues,
reduce your costs or replace customers lost
during the recession? The answers will help
you decide where to go.”
When Vortex launched in 1995, its entire
market was North America. Today, a significant part of its growth is coming from Asia
and Europe. But with 100 employees, Hamelin
says the company has had to be careful when
deciding where to focus its limited resources.
A company that spreads itself too thin risks
alienating customers in its domestic market.
One way to grow your business and share
risk is to work with agents and distributors,
but due diligence is essential. Don’t pick the
first prospective partner that comes along,
Pho advises.
“In Canada, you’d probably interview three
or four prospects, do due diligence on each,
and interview a second time before you hire
them,” he says.
“Be equally vigilant when meeting with
potential agents overseas.”
Vortex has gone even further, developing a
profile for the ideal distributor: one who can
sell products based on quality, not price, and
can build a market.
Another common pitfall is assuming the
product you sell in Canada will be the product
you sell overseas. In Vortex’s case, it made
minor design modifications to meet safety
standards and regulations in Europe. It also
worked with local product designers to add
features and aesthetics better suited to particular markets.
For other companies, the demands of regulators and customers may require even more
reengineering and redesign.
“This can represent a significant cost for
some companies, if they have to retool their
production or open up new production lines
in foreign markets,” says Jayson Myers, president and CEO of Canadian Manufacturers and
Exporters. “You also have to make sure the
product includes features that customers in a
given market want.”
In sum, companies must strive to thoroughly research the markets they are targeting, a task that includes:
* trying to understand customer attitudes
and desires;
* finding the right local partners;
* finding out about relevant laws and regulations;
* considering appropriate pricing;
* identifying potential competitors; and
* gauging other risks.
“You need a good business plan that shows
how you serve your customers and make a
return on your investment,” Myers says.
And you must be willing to be patient, Pho
says. Assume it will take twice the time and
twice the money it would in North America,
with a few failures along the way, before the
sales start flowing.
“I’ve seen too many companies become
discouraged and give up too soon,” Pho says.
“If you anticipate hurdles and prepare for
them, you won’t be as likely to abandon ventures prematurely.”
Back at Vortex, Hamelin agrees. He says
opening new markets starts with relationship
building and realistic expectations. It’s a strategy that has worked for the company. It now
has more than 4,000 installations across three
continents and a worldwide distribution network.
“Attend a trade show to learn who the players are, meet with potential customers and
gain some short-term experience in the market before you fully commit,” Hamelin says.
“And, most importantly, don’t get too low on
opportunities that fall flat, because new doors
will open that lead to success.”
You need a good business plan
that shows how
you serve your customers
and make a return
on your investment.
Jayson Myers, Canadian Manufacturers
and Exporters
Patricia Ogden LeBlanc
Aesthetician/Reflexologist
837 MacDonald Rd.
Amherst, Nova Scotia
902.660.4988
Serving
our clients
for over
30 years
5250520
31 Church St.
Amherst
902.667.9339
http://www.atyp.com/jorgensen
email: [email protected]
We have the knowledge and experience to help you make the most of your finances.
Tax Planning & Preparation
Accounting & Auditing
New Business Start-ups
Fax your business card to 902.667.7644
and receive our quarterly tax newsletter
3933416
14
SMALL BUSINESS WEEK
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SMALL BUSINESS WEEK
15
Grooming and training
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at Dogs To Divas
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natural talent for grooming dogs. vate lessons.
AMHERST – Turning your dog
“It’s important to train people
“Brandi has that aesthetic eye
into a diva is a labour of love for
Brandi White and her mom Debbi that some people have and some to send cues to the dog that they
people don’t,” she said. “She can understand,” said Ryan. “It takes
Ryan.
patience because you’re teaching
see the way the hair grows and
“We’ve always had dogs and
people how to look at things
sees the angles of the hair and
always rescued dogs, and we’ve
from a dogs perspective and how
knows where to cut the hair to
always been passionate about
to act accordanimals our
ingly.
whole lives,” said
“Something
White, who is the
as simple as
Dogs To Divas
keeping slack in
stylist. “We got
the leash can be
fortunate to
a positive cue,”
make it a lifestyle
Ryan added.
and a job.”
The cost of
Dogs To Divas foa six-week obecuses on groomdience class is
ing dogs and
$90.
training dogs.
“After sixThe business has
weeks you can
been in operation
come back to
in Amherst for alclass for no
most two years
charge,” said
but White has
Ryan. “So it’s
been grooming
basically $90 for
dogs professiona lifetime of acally for 11 year’s.
In that time
Five-year-old cocker spaniel, Buddy, is flying down to cess.”
The cost of
she calculates
Florida for the winter and had his hair trimmed by
grooming varies
that she’s
Brandi White, left, before he jumped on a plane.
on the type of
groomed close to White is the Stylist at Dogs To Divas, and her mom,
dog.
12,000 dogs.
Debbi Ryan, right, teaches dog obedience.
“The aver“Before I
age cost for a small dog is $35,
make it look really good.”
started grooming dogs profesand from there it depends on the
Ryan has been teaching ownsionally I was the kid that the
size, the breed and the coat of
ers positive training methods for
neighbors would bring their dog
the dog,” said White.
15 years and teaches a group
to have groomed,” said the 26obedience class at Dogs To Divas Dogs To Divas is located at 2 Alyear-old. “So I’ve groomed well
bion Street and is open Tuesday
every Wednesday from 6 to 7
over 12,000 in my life.”
to Saturday from 8 a.m. to 5 p.m.
p.m., and she also provides priRyan said her daughter has a
5242529
innovative hearing solutions
A NEW APPROACH
putting experience to use
WHY WE ARE HERE:
situations because of their
hearing loss."
Absolutely nothing makes us happier than seeing people’s eyes light up the first
time they put on their new hearing aids and they smile, almost laughing, at the
understanding of what they were missing and how much richer their life
experiences can be from now on.
We’ve built our business with our passion to exceed expectations for service.
We’d love an opportunity to help you with your hearing loss. With us, it’s always
about you.
FACTS ABOUT HEARING LOSS:
• Hearing loss has significant consequences to your lifestyle and happiness.
• 60% of people over the age of 55 having hearing issues.
• Hearing loss, if left untreated, lessens the impact and options for future
treatment.
• Hearing loss is more a function of brain activity than physical deterioration.
• The average person waits 7 years before they do something about their
hearing loss.
• Friends and family notice hearing loss up to two years before those affected.
People don’t hesitate to turn to eyeglasses for better vision, yet hearing loss is
taken less seriously, even though untreated hearing loss is damaging to personal
relationships and more noticeable than any hearing aids.
Innovative Hearing Solutions Inc. has been serving the people of Nova Scotia since
1993. We are wheel chair accessible with free parking right at the door, a great
location with a bright new spacious office to serve you.
Because we believe in our products we offer a 100 day trial period or 100% of your
money back!
We specialize in providing you with enough information to help you make a more
informed decision on your purchase to suit your lifestyle.
We offer a Make you happy service.
Call Today for an Appointment
211 South Albion St, Amherst, N.S., B4H 2X2
(902) 667-5433
Innovative Hearing specialist
Marie Cole administers a
hearing test to a client at the
Amherst clinic.
AMHERST - Helping
people with hearing loss is
something that comes
naturally for Marie Cole.
She's been living with her
own hearing impairment for
about 45 years.
Cole is a specialist at
Innovative Hearing Solutions,
which has been serving the
Amherst community with
superior customer service
since 1993. "I live in the
same world as the clients
coming in," she said. "They
have all these issues with
the TV, or talking with
friends, or being with
groups, at social events, etc.,
and they have difficulty
communicating in those
Besides working in the
field, Cole has lived with
profound hearing loss. She
knows how important it is to
have properly fitted hearing
aids to correct problems and
bring the person "forward
into the hearing world."
Sometimes a client just
needs an adjustment to their
hearing aid. One common
problem, for example, is
that a client's own voice
sounds funny to them. It's
just a matter of having them
make an appointment,
coming in and having their
hearing aids fine-tuned with
the use of modern computer
equipment on hand.
The tools of the trade have
come a long way in the past
four decades, according to
Cole. "Hearing aids used to
be analog, they used to be
huge, and basically all they
did was amplify sound," she
said. "They were still better
than nothing, but certainly, in
the last few years with digital
hearing aids, the difference is
like day and night. It's like
comparing a horse and
buggy to a new car." The
hearing aids are also much
smaller and more stylish
than ever in the past, coming
in numerous colours.
While the majority of clients
tend to be senior citizens,
Cole advised that anyone
between 45-50 should come
in and have a hearing test
done. She said typically
people have hearing loss for
8 to 10 years before doing
something about it.
Even if a person's hearing is
fine, it is still prudent to be
tested, she explained. "If
there is no hearing loss,
we'll give you a call in a
couple years to come in and
have them checked again,"
said Cole. "That way, we
have a record of your
hearing levels. If there is
loss, we can spot it and give
proper advice."
5240479
16
SMALL BUSINESS WEEK
We’ve got you covered in
Cumberland County
Amherst
Parrsboro
The heat of the equator in
the middle of winter
At a fraction of the cost
Pugwash
When you come to Harrison’s Building
Center, we feel very confident in walking
through the steps to achieving your
finished project whether it’s the home of
your dreams or a new backyard deck. We
have qualified staff who can first design
your project, quote the materials required
and then deliver them to the site. So drop
in and see us soon.
Harry Trenholme of Harrison’s Home Hardware looks over one his company’s new
Manuflow Air to Air Ductless Mini Split Heater. The units are Energy Star rated and
can reduce energy bills by 30-35 per cent while offering air conditioning in the
summer as well as air purification.
HARRISON’S
Home Hardware
Building Centre
Amherst
902.667.3306
Parrsboro
902.254.3306
Pugwash
902.243.3306
AMHERST – If you want the warmth of
the equator when it’s -20 C or the cool
comfort of Antarctica when it’s 25 C,
come to Harrison’s Home Hardware.
The Upper Nappan company’s
line of Manuflow Air to Air Ductless
Mini Split Heat Pump is becoming very
popular for their energy efficiency
including reducing the heating bill while
offering cool air conditioning during the
summer months.
“They are Energy Star rated and
have a follow-me thermostat. Wherever
you go in the house this will follow,”
Harry Trenholme said. “The inverter
saves about 30-35 per cent on energy
costs and would be perfect for
someone who burns a lot of oil or
electricity.”
Trenholme said Harrison’s has
done about 15 installations in a couple
of months and is seeing more calls
from new homes as well as retrofits for
older homes and businesses.
“The model we’re selling is
attractive and looks good and it has
become very popular,” Trenholme said.
The units cost between $3,000 to
$3,600, but Trenholme said they more
than pay for themselves in energy
savings, not to mention quality and
comfort.
An optional charcoal filter is
ideal for cigarette smoke and other
odors while the included bio-filter
purifies 99 per cent of the surrounding
air. It eliminates dust, pollen, airborne
particles, bacteria and germs.
Some of the advantages of the
Air to Air Ductless Mini Split Heat
Pump are providing the necessary level
of heating or cooler with much greater
efficiency, there’s a much smaller startup time and it avoids cycling
operations in the compressor, reducing
costly current peaks. The units also
minimize temperature fluctuations and
reduces energy consumption by a
third.
Installation of a unit may also be
eligible for the provincial energy rebate
program, following an energy audit of
your home or business.
For a home consultation, or
more details, contact Harry at 667-3306.
5255416

small business week

Transcription

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