In This Issue: You're The Power! | Tips to Grow Your Business | Be Prepared For The Cold | Artisan Sales | Recommend a Business

 

You're The Power!

 

This week the Business Development Bank of Canada (BDC) is honouring its 26th annual Small Business Week. The national launch will be held in Calgary, Alberta. This year's theme "You're the power behind the Canadian economy, let's share the energy!" is celebrating innovative ideas. As you well know, Canadian entrepreneurs are using their energy to create and expand a wide variety of small and medium-sized businesses in a wide range of sectors across the country. Their commitment and hard work have made them the country's main drivers of job creation, the real power behind the Canadian economy.

 

We are pleased to invite you to our next Small Business Seminar Series: Personal Resources on Thursday October 20th at the Junction Cafe. Dave Hagel from High Performance HR and Elaine Saunders-Boothman from RBC insurance will be speaking on how to motivate your employees and protect your investment. The Junction Cafe will be catering this event with fabulous food and street parking is free so come join us for a great evening. Seating is limited so register online today!

 

Tips To Grow Your Business

Peter Simpson, CMA has over 15 years experience working with small to medium size businesses. His main focus is working with owners and managers of small businesses to bring their business to the next level.

 

Although every business is unique they all have common attributes. All businesses, no matter how big or small can only grow in four ways:

• Increase the number of customers of the type you want
• Increase the number of purchases from existing customers
• Increase the average per purchase sale
• Increase the internal efficiencies of each process in your business

 

At first you may think that the above comments are obvious but it has been my experience that most small business owners get so caught up in their day-to-day workings that they almost forget about why they are in business. I call this working in their business not on it.

 

Increasing the number of customers of the type you want:

You should start by determining who or what your ideal customer looks like. Don't be afraid to write it down! Look at your existing customers and rank them as A, B, C and D's. The A's are not always your biggest customer, they are the ones that you enjoy working with and make a profit. In fact, quite often your biggest client knows that they are your biggest client and work you down to a very low profit margin.

 

Increase the number of purchases from existing customers:

It has been written many times that an existing customer is 5 – 10 times less expensive to sell to than a new customer. You would be surprised at how many of your customers don't realize all the products that you sell. Send out a note, newsletter, phone call, etc. letting your customers know what you sell. You'll be pleasantly surprised.

 

Increase the average per purchase sale:

Do you want fries with that? Fast food restaurants are always trying to upsize your order. All the time and money they have spent in advertising got you to the restaurant and the profit margin they make on an upsized order is huge. You need to look at your product line and customer base and determine if there are other items that you could “bundle” or sell along with the specific item the customer came in looking for.

 

Increase the internal efficiencies of each process in your business:

These processes could range from delivery time, turnaround time, product quality, collection of receivables, product costs, etc. A simple example could be delivering your product to the customer. If you do this yourself, how long does it take you to drop off and pickup items? Compare an hourly rate on your time versus using a courier or hiring an assistant specifically for drop offs and pickups? This could free up more time to work on something that will make you more profit.

 

Simpson and Associates, where common things are done uncommonly well.
Our company looks at a business as an integrated, cohesive whole. We help companies find where to make their money, make more of it faster, and sustain its growth longer. Simpson and Associates has been operating since 1998 and our office is located in downtown Burlington. We offer business consulting and tax return services for both personal and corporate. For more information, contact Peter Simpson at (905) 464-0029.

 

 

Be Prepared For The Cold

 

With all the driving we do these days, it's important to have a vehicle that's in tip top shape for winter. And yet many of us take our car's performance for granted! If it starts, it's working just fine, right? Your car is a complex system and with the cold and icy weather approaching far too quickly, now is the perfect time to do a maintenance check.

 

What can you do yourself?

• Check the oil level
• Check the tire pressure and signs of uneven wear
• Test the fan motor for the internal heating system
• Test the defogger/defrost for the rear windshield
• Check the wipers and replace if necessary
• Check all the lights
• Top up the washer fluid with one that contains anti-freeze

 

Your brakes are a critical system. Consider the complexity involved when you press the pedal. There are many parts and fluids used every time you drive. Also, keep in mind that hoses and belts can suddenly break without warning in the cold weather. This will drastically affect your car's performance on the road and may put you at risk.

 

A licensed technician has a trained eye to assess your car's condition!

• Check hoses and belts for signs of wear
• Check the performance of your emergency break and look for signs of wear
• Performance check for optimum running conditions (tune-up)
• Oil/filter change
• Tire rotation and balancing; check for signs of uneven wear
• Fluid check and top up:
  • Engine Coolant
  • Transmission
  • Brakes

 

With over 39 years of experience, Sam Opoku is dedicated to customer service. The trained technicians at Sam's Total Car Care Centre will give you an honest assessment of your car's condition so you can drive with peace of mind this winter season. Visit Sam's website for a discount on your next 21- point inspection and oil change.

 

Sam's Total Car Care Center: dedicated to customer service with experience you can trust. Located at 956 King Street East (2 blocks east of Sherman).

 

 

Artisan Sales

 

With a hint of autumn in the air, local artisans are gathering at 483 Claridge Road in Burlington on Saturday October 22nd from 10 a.m. to 4 p.m. to display their original and one-of-a-kind creations. Open to the public, this annual festive sale features hand knit scarves and purses, along with a stunning selection of jewellery to suit any style. The nontraditional open house at the home studio of Bonnets & Bags allows families to enjoy a warm and welcoming atmosphere while browsing a wide selection of handcrafted gift items including unique jewellery by Bead Candy and Desert Diamonds, handknit scarves and delectable desserts by Floriana from Here's Cooking For You!

 

Check our events calendar for more shows in your area.

 

Space is still available for artisan sales in Dundas and Hamilton. For artisans who are interested in participating, contact Brooke at info@ihighlyrecommend.ca.

 

 

Recommend a Business

 

I Highly Recommend is a unique business directory based on recommendations. We actively promote the directory and the members within it, simulating the power of a "referral by word of mouth" in the online environment and creating a network built on trust.  If there is a business that you would highly recommend, be it product or service, please contact us.