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W e d n e s d a y, M a y 6 , 2 0 1 5 ED M O N T O N J O U R NA L e d m o n t o n j o u r n a l . c o m
CAPITAL IDEAS c apital id e a se dm o nto n .c o m
P R O J E C T L E A D E R : K A R E N U N L A N D , 7 8 0 - 4 2 9 - 5 2 6 0; k a r e n @ c a p i t a l i d e a s e d m o n t o n . c o m
CAPITAL QUESTION:
UPCOMING:
How do you manage seasonality in your business? Entrepreneurs share how they keep their businesses thriving year-round
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How to be a Productivity Ninja
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How do you cultivate productivity?
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CAPITAL IDEAS27 “Planning, strategy and time management according to cycles of the season make for a natural flow to sustainability, longevity and productivity. Start new projects in the spring, get outside and sell your product in the summer, and take stock and reap the rewards of hard work in the autumn. Then rest, regroup and revitalize in the winter.” — Anne-Marie Lindell, program manager at Ventures — decsaedmonton.wordpress.com/ventures “I network, develop relationships and start to plan projects three to six months before my slow period so that I have some things on the go. I also use my slow period to re-evaluate my company, services, customers and suppliers. Slow periods can be used as a time to better oneself with reflection and planning.” — Kevin MacDonald, business consultant at L6S Business Consulting Inc. — L6SBC.ca “We have designed counter-seasonal service offerings so that we continue to grow during seasonal changes. One of the benefits of a service over a product is no inventory issues, only expertise requirements. Develop expertise to match seasonality shifts to be a more holistic service provider, expand reach and increase client responsiveness.” — Darryl Moore, vice-president of marketing and communication at Executrade — executrade.com “I take the down times to complete tasks that I would have no time to do during night-market season. I tend to focus on organization and administration. I find ways to stay connected in my community, such as attending functions that support my business goals. I clean up emails, files and paper. The best part is having all the tools I need ready and fresh to use for the new season.” — Trina Shipanoff, general manager at Night Market Edmonton — nightmarketedmonton.com
PHOTO SUPPLIED BY: IAN MATHIESON
Ian Mathieson, senior consultant at CRC Consulting (crcconsulting.ca), says it’s all about planning ahead. “As a social enterprise, we build on our community partnerships and grow the capacity in our staff through professional development. We also review our online presence and work on any of those great project concepts we had to put aside in busy times.”
“Slow season is a great time to stop and think. Have team meetings, analyze processes, ask strategic questions and implement change. My team does it every year.” — Patti Macdonald, partner at Bishop & McKenzie LLP — bmllp.ca “My business operates at two connection points with clients: One is face-to-face and the other is online. During the Christmas season, local work tapers off, so I go online and look for clients there. Operating through the slow times is a matter of looking for new sources of work.” — Deirdre StLuke, corporate storyteller at Deirdre StLuke
“At our firm, we limit the number of personal tax clients we take on and focus on corporate clients who require assistance year-round. Most businesses can generally find ways to diversify their offerings to reduce their seasonality. If not, you should ensure your prices reflect seasonal staffing difficulties and ensure you have formal cash-flow planning.” — Josh Spurrell, president of Spurrell & Associates Chartered Accountant — spurrell.ca “As archaeologists, we are highly guided by the seasons; winter work isn’t so fun and there isn’t much of it. We usually have lots of reporting to work on indoors while it’s frozen outdoors, but otherwise, we try to keep our key employees and work on improving processes when things are slow. Also, some of us take long, well-deserved holidays in the sun!” — Margarita de Guzman, principal archaeologist at Circle CRM Group Inc. — circleconsulting.ca “Managing seasonality is vital no matter what industry you are in. You need to know which months are high months for you and which are low so you can plan your year accordingly. Part of your best months should be putting money aside for the months that aren’t as good to make sure everything is covered. Planning your sales or promos around low times in the year is also a good way to keep months consistent.” — Stacey Hogbin, owner of Wevive Fitness — wevivefitness.com
A talk with Think Productive founder and author Graham Allcott Where: Go Productivity (301, 10110 104th St.) When: 3:30 p.m. to 5:30 p.m. Admission: $75. Tickets at goproductivity.ca/events
A monthly panel discussion hosted by Capital Ideas. Where: Edmonton Journal (10006 101st St.) When: 11:45 a.m. to 1 p.m. Admission: Free. Tickets at capitalideasyeg39.eventbrite.ca
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Productivity 101
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Local University: Search Marketing Seminar
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Workshop designed to inspire your team to strategically tackle internal productivity Where: World Trade Centre (9990 Jasper Ave.) When: 8:30 a.m. to 11:30 a.m. Admission: $34.95 (members only). Tickets at edmontonchamber.com/events
A full-day workshop where you’ll learn how your business can use the Internet to get more customers. Where: Lister Centre, University of Alberta (11613 87th Ave.) When: 8 a.m. to 4 p.m. Admission: $199. Tickets at localuedmonton.com
For more great events, visit capitalideasedmonton.com/edmontonevents.
COMMUNITY QUESTION: How have you turned business challenges into opportunities? Every entrepreneur deals with difficulties from time to time, but it’s what you make of those tough situations that counts. With this in mind, Jeremy Fearnley, Partner with Grant Thornton LLP, wants to hear from you: How have you turned business challenges into opportunities? You can answer the question in two ways: • Open today’s Capital Ideas email if you’re a member, or • Visit capitalideasedmonton.com We’ll publish the best answers, along with your business name and website address, on May 13. Capital Ideas has partnered with Grant Thornton (grantthornton.ca) to host a breakfast panel entitled “How have you turned business challenges into opportunities?” It features Teresa Spinelli of the Italian Centre Shop, Angela Armstrong of Prime Capital Consulting, and Alphonse Pilon of Marcson Homes. To attend the May 26 event, visit capitalideasbreakfast.eventbrite.com.
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These answers are in response to a question posed by Wellington Holbrook, executive vice-president of ATB Business. Here’s his take: “All businesses have some degree of seasonality. You might be surprised to know that even organizations as large as ATB Financial have to manage through seasonality in our business. As an entrepreneur or business owner, it is important to plan for your cash flow, and there are simple tools that can help you do that available online or from multiple sources. The bottom line is, you need to hold some cash in reserve from the good times to make sure you can pay your bills in tougher periods. In my 20 years supporting entrepreneurs and business owners, I have seen way too many businesses fail because of this lack of discipline.”
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