FINANCIAL POST
T H U R S D A Y, J U LY 1 6 , 2 0 1 5
COMMUNITY QUESTION
HOW DO YOU MAINTAIN SUSTAINABLE GROWTH IN YOUR BUSINESS? Entrepreneurs talk about strategies to keep things in balance. “For us, in a service industry, sustainable growth is all about our capacity to meet client’s needs. We work with contract professionals, which means we can scale up or down very easily as we do not employ full-time staff. Contract professionals allow us to hire the best trainers we can find, and to keep them. As our schedule gets busier, our contractor trainers clear their schedules to work with us. In any business, treating your people well gets you everywhere. In our business, it is the way we are able to grow and meet the demands of our clients.” Merri Lemmex, Managing Partner, Operations, Lemmex Williams Training Inc., lemmexwilliams.com
“As food producers, we look for many ways to grow. For us, as crop producers, growth has typically come from expanding our land base. That isn’t easy to do with rising prices for land and few pieces of land for rent or purchase. Now, we look to changing methods of production so we can grow our profits and also look for other businesses we can operate with same capital. Exploring new markets, looking at ways to grow new crops with greater gross profit potential or becoming part of the food processing and distribution chain are all ways we can grow in a sustainable way.” Laura Bechard, business and executive coach at Bexco Business & Executive Coaching, linkedin.com/in/ laurabechard
Robyn T. Braley, President of Unimark Creative (unimarkcreative.com) believes that focusing on your brand is key. “The challenge for small business growth is balancing operations, marketing, delivering on your brand promise and after sales service. It is much easier to keep existing customers than to find new ones which makes quality products backed by exceptional customer service key. As customers grow, so will you. Focusing on building your brand and consistently prospecting new customers maintains sustainability.”
“Maintaining sustainable growth is about strategy. Businesses thrive on momentum and creating the right momentum can be a real challenge. New businesses scramble to get the first clients, or are wildly successful. Both situations can force a reactive mode of building team and systems to catch up. Sustainable growth requires moving from reactive to proactive in your business activities. This requires a strategy based on facts such as your key performance indicators. Business is always changing and planning for these changes proactively is the best way to provide sustainable growth.” Nancy Seeger, CEO of Seeger Consulting Inc.,seegerconsultinginc.com
“We fuel sustainable growth by building a powerful bond with our customers.”
PHOTO SUPPLIED BY: ROBYN BRALEY
Kris Hans, strategist at Market Grade, marketgrade.com
“We have a number of strategies to grow our business but I believe the real key is to have a plan and routinely check-in. We have monthly, quarterly and annual planning meetings. At these meetings we look at our numbers and measurables to tell us if we’re on track. Our business has to continually evolve. Taking time to figure out what’s working and what isn’t allows us to focus our energy on strategies that will take us to the next level.”
“I achieve sustainability by over-delivering on my value promise. Being indispensable to my clients and focusing on my clients goals and values, results in me being referable to other successful people.”
CA LG A RY H E R A L D
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CAPITAL IDEAS UPCOMING EVENTS J U LY 1 4 : MARKETING SUMMER SCHOOL: GET READY! CREATING YOUR MARKETING MACHINE Join marketing specialist Cidnee Stephen as she takes you through some fresh marketing ideas to take your business to the next level. ■ Where: The Commons Calgary (1900 11st S.E. Unit 150) ■ When: 9:00 a.m. to 11:00 a.m. ■ Admission: $69. Details at awebusiness.com J U LY 2 9 : STA R T U P D R I N KS Startup founders, funders and enthusiasts come together to exchange ideas, share knowledge, discuss challenges and learn from one another ■ Where: Beer Revolution (1080 8th St. SW) ■ When: 6:00 p.m. ■ Admission: Free. More info at meetup.com/Startup-Calgary For more great events, visit capitalideascalgary.com/ calgaryevents.
C A P I TA L QUESTION
How does your business give back to the community?
Dean Kendall, CEO of Ideal Life Experience Ltd., linkedin.com/in/ideallifeexperience
Christy Switzer, co-owner of I Know A Guy Renovations, iknowaguyrenovations.com
These answers were in response to a question posed by Jeffrey Cockram, founder at Horace & Jasper Streetwear (horaceandjasper.tumblr.com) and STONE Clothing & Curiosities (stoneyyc.com) Here’s his take: “At one point we found ourselves on a path that had us looking for a retail location on the main strip of ‘Canada’s best neighbourhood’ and seeking out distributors across the country. After some analysis it seemed to us that this was not a sustainable
plan for us at this time. We opted instead for a downscaled version of the plan that saw us move into a little store in a cool urban farmers market, and taking national distribution into our own hands. We also moved out of our glamourous workshop downtown
and back into our home workshop. Because the downscaling resulted in less overhead and less people involved we began to see success immediately, rather than having to endure many months of all our profit being used to payback startup costs.”
R O U N D U P : R E C E N T P O S T S F R O M C A P I TA L I D E A S M E M B E R S Find the links to these members’ full posts at our LinkedIn group, Capital Ideas Alberta. We’ll be curating a selection of blogs every Friday in the same place. To bring yours to our attention, email it to hello@capitalideascalgary.com or post to LinkedIn with the hashtag #capitalideas
From “LinkedIn Updates: Limits for Free Users and a More Human Pulse” by Dave Byrnes, owner of Easier Networks (easiernetworks.com):
From “Corporate Histories are Stories Worth Telling” by Lea Storry, founder and owner of Our Corporate History and Family Lines (ourcorporatehistory.ca):
From “The Biggest Disability Etiquette Mistakes You Can Easily Avoid” by Maria Doll, owner of Leadership Matters Consulting Services ( leadership-matters.biz):
“For the average user this won’t be too restrictive, but for business owners and salespeople trying to survive off the free account it may be time to bite the bullet and upgrade. Active job seekers may also find they need to upgrade while in their job search.”
“Businesses look to the future. Why? Because the future is what companies, big or small, invest time, money and other resources in. However, our company pasts are just as important to our future successes. Corporate histories give us an understanding of the past and they’re a powerful tool for the future in both business and relationships.”
“The workplace is now so wonderfully diverse. Civility begins with treating everyone you meet with dignity & respect and making them feel welcomed... at ease. Keep these thoughts in mind if you are meeting a colleague or client who happens to have a disability.”
Join our LinkedIn group: Capital Ideas Alberta • Follow us on Twitter: @capitalideasyyc
Doing good is baked into the business model for many entrepreneurs in our community, which is why Wellington Holbrook, executive vice-president of ATB Business, is curious to hear from you: How does your business give back to the community? You can answer the question in two ways: Open today’s Capital Ideas email if you’re a member or visit capitalideascalgary.com. We’ll publish the best answers, along with your business name and website address, on July 23. For more on “Doing good in the neighbourhood” you can attend the next Capital Ideas event Thursday, July 30 at noon. Tickets are free at capitalideasyyc7. eventbrite.com
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