campbell river business gazette

CR.BUSINESSGAZETTE.CA MAY/JUNE 2013

Business with a purpose

Rene Quintin and Jennifer Baker, of Opportunities Career Services Society, are pioneering social enterprise in Campbell River. The social enterprise sector in BC has grown more than 50 per cent in just two years.

Nancy Miller, Business Gazette

Social enterprise – it’s a newish name for an old idea.

The term “social enterprise” refers to a business venture operated by a non-profit agency that provides goods or services in order to fund its social missions. For example, an art gallery might operate a gift shop with funds raised going toward supporting new exhibits, or a thrift store might forward its profits to the local hospital foundation.

For some non-profit organizations, the extra income generated by social enterprises means the difference between survival or not. And as governments continue to “control spending,” the number of organizations entering into social entrepreneurship is climbing steadily.

According to the 2012 Survey of Social Enterprises in BC, there are 357 confirmed social enterprises in the province, up from 231 in 2010. The survey notes that while some of this increase is due to an improved understanding

and definition of the sector, there has been, and continues to be, considerable growth in this area of the economy.

“There are a couple of reasons why there’s an increase in this kind of venture,” explains David LePage, team manager with Enterprising Non-Profits (ENP), a program that helps BC non-profits use a business model to

become more successful. “One, traditional

government funding is decreasing; and two, social issues are becoming more complex.”

That complexity, notes LePage, citing poverty and mental health as two examples, requires more complex solutions. “The business model

approach,” he says, “in a

In the investment world, timing is everything – it can be the difference

between good advice and bad advice. Timing is also an important factor in client equality. By client equality, I mean equal access to your adviser’s best recommendations. Why is that important? Because with a good adviser it boils down to returns; more timely advice usually equals better returns. In a typical, non-discretionary advisory relationship, however, industry regulations and standard procedures make client equality next to impossible.

The vast majority of financial professionals oversee non-discretionary accounts, where the final trading decision lies with you, the client. Advisers provide recommendations, but without your verbal or written authorization they are unable to implement any changes.

Let’s say, for example, that an adviser’s research indicates it’s time to sell a particular investment. Since the adviser needs approval to sell, he/she starts calling clients, often starting with the largest client and then

working down his/her client list. Depending on the size of the client list, this process can take weeks or even months.

Meanwhile, the price of the investment is constantly fluctuating. If the adviser is correct and the investment starts to depreciate, clients at the bottom of the list may get a much lower price than those at the top.

From a client’s perspective, there are three main problems with this process, which is pretty standard in the investment industry:

1. There is no client equality. Clients at the top of the list receive the timeliest advice, and likely better returns.

2. It is inefficient. The adviser spends far more time calling clients than

Some investment clients treated more equally than others

Emily Hovey, CFP, Alitis Investment Counsel

“Clients at the bottom of the list

may get a much lower price

than those at the top.

”

If you’re a business owner, you’ve probably invested years of your

life and significant financial assets into developing a successful enterprise. Without a strategic approach to business succession planning, however, any value you’ve built may retire when you do. That’s why it’s important to have an exit strategy.

If you’re planning to leave your business in the next 5 to 10 years, you need to start planning your exit strategy now. This will give you time to identify and groom potential successors, clean up the company’s structure to ensure it’s stripped of any superfluous assets and maximize its income and value.

Identifying Successors

This is often the most challenging part,

particularly if there are next-generation family members working in the business. You have to carefully consider whether those family members are interested in and/or capable of running the business. It can be difficult to divide the owners’ estate equitably amongst family members when a large portion of your net worth is tied up in the business.

Key employees or employee groups are other potential successors. However, you may need to look at providing partial financing. This should be explored well in advance, as you may need professional assistance to help structure a financing deal that works for all parties.

Building value

Once you’ve identified a successor, focus on

“cleaning up” the company and maximizing its value. It pays to start with a proper business valuation. Knowing what your business is worth in advance can assist with negotiations and help you address issues that may detract from its value.

In addition to demonstrating good cash flow and profitability, potential purchasers will also want to see:

Key to succession planning is starting early

See ‘Purpose’ Pg. 4

See ‘Planning’ Pg. 2

See ‘Equally’ Pg. 6

Brad Piercy, MNP LLP Chartered Accountants & Consultants

“But what the funding is for and what the goals are may not always be the same thing.

”

Campbell River Business Gazette – May/June 2013

cr.businessgazette.caThe Campbell River Business Gazette is delivered eight times per year to every business address in the River City.

Associate Publisher: Jim McQuillian Executive Editor: Ryan Parton Writers: Kenzie Andrews, Nancy Miller Advertising Sales: Ron Webb Web: Maya Payton-Schmid Production: Brian Fidler

Advertising Inquiries: 250.897.5064 / 250.702.1103 or [email protected]

Editorial Inquiries: [email protected]

Left Coast Publishing 2440 B First Street, Courtenay BC, V9N 8X9

The opinions, ideas and advice of columnists and contributors to the Campbell River Business Gazette are theirs alone and do not necessarily ��

Question of the Day: “Do you miss the HST?”

�� team

��accessible financial records

�� and systems

�� incorporation and tax filings

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Ensure a smooth transition

Many businesses are too

dependent on key people because their knowledge and expertise have not been documented. When they move on, their knowledge goes with them. To avoid this, it’s important to document the processes and procedures that have made your business successful. This will also enhance the value of your business in the eyes of a potential purchaser.

Tax strategies

The amount and timing

of tax paid on a business sale can significantly impact your retirement. Many tax restructuring transactions must be

completed long before the sale process begins. Talk to a taxation specialist well in advance to ensure your tax structure allows maximum flexibility for

estate planning, income and capitals gains considerations.

Final thoughts

If you’re in business, it’s

your job to determine how you’re going to get out of business.

If you don’t start planning several years in advance, you may be faced with limited succession options – and less cash in your pocket. Having a plan allows you to increase the value of your business and exit on your terms.

Brad Piercy, CA is a Business Advisor with MNP LLP; Chartered Accountants and Consultants. For more information, contact Brad at 250.287.2131 or [email protected].

Planning - con’t from pg. 1

Success is the accomplishment of one’s goals. But in

order to achieve these goals, you first have to set them.

Setting goals is very much like writing a speech. First you choose the theme (“I want to lose weight”), and then you set the conclusion (“By June 1st I will lose 25 lbs”). Then you insert three salient points of reference, which are your

benchmarks. These are your fillers within the body of the speech; you can be as detailed as you want in this section. For example, you can insert the details of projects and assignments you’ll need to enact to accomplish your goal. (E.g. number of gym visits a week, the specific workout regime, daily menus, etc.)

Writing your goals down affords you the opportunity to revisit your plan, which is recommended at least once a month if not more often, depending on the complexity. Once your goal is set and the first step is taken, you’ll move very quickly to fill in the blanks. Analyzing your goals affords you the flexibility to change your program where necessary and to measure what’s working and what’s not.

Timing is critically

important when setting goals, just as it is when delivering a speech. Your benchmarks should have a strict timeline that’s adhered to and continually evaluated. (“It’s now May – am I where I wanted to be at this time? Have I performed all the tasks I committed to? If not, why?”)

Make goal-setting one of your top priorities and be disciplined in carrying out the tasks you’ve decided will help you reach those goals. You’ll be surprised how well the process works.

GoCampbellRiver.com is a “one-stop-shop” for information on businesses in the Campbell River area. Enhance your Internet profile and make an impression at www.GoCampbellRiver.com.

Goal-setting: failing to plan is planning to fail

Catherine Temple, GoCampbellRiver.com

QuickBooks has a nifty little account ��

Funds that can make your bookkeeping life a whole � �� "�most inexperienced users don’t know how to use it properly.

�� #��default account used to track customer payments.

It’s very helpful when you have multiple bank accounts and deposits to be allocated amongst them. If you record payments in QuickBooks as you receive them but don’t make a bank deposit everyday, you should be using this account. Think of it like the pocket of your pants (a holding account) where you keep payments (cheques/cash) until you physically deposit them at the bank.

Occasionally during reconciliation, you may discover you’re missing some deposits, so you enter them directly into your chequing account register. This leaves a large balance in the �� #��account, which almost

always means revenue has been entered twice and is overstated.

When used properly, �� #��groups payments together so they match the deposit amounts shown on your bank statements. This account becomes very important as your business grows. Without it, each payment would be entered in the register separately, making bank reconciliation extremely time-consuming.

Sherri-Lee Mathers is an IPBC-Certified Professional Bookkeeper, Regional Developer for IPBC and a Certified QuickBooks ProAdvisor. Reach her at 778.427.1122 or www.balsamway.ca.

Make the most of Undeposited Funds

Sherri Lee Mathers, Balsam Way Bookkeeping

“No. Basically it means we carry 7% less on inventory costs.”

— Geoff Hancock, Needful Things www.needfulthingsfurniture.com

“No, I think it’s bad. I liked the HST; it was certainly easier to run the business. It’s more work now. In my industry I have to mostly charge the GST and PST anyway. And customers, to find out if they are exempt, have to go through a lot of paperwork!”

— Marita Brostrom, Quality Signs

“No. Customers have certainly commented on it. Most think it’s right that the price of food is taxed less and think the same should be with clothing.”

— Mark Baker,Jim’s Clothes Closetwww.jimsclothescloset.com

“It’s a double-edged sword. HST is simple, with paperwork every three months. GST is still quarterly, but PST is monthly, so it’s 300% more paperwork. On the other hand, I don’t have to pay out PST to suppliers so it saves me 7% on cash flow. So it just about comes out even. Because money in hand today is worth more than money tomorrow, why not build the taxes into the cost of goods at the distribution, manufacture and import level?.”

— John Dyck, The Dragons Lair

“Yes. It was a better tax for business all the way around – much simpler to record for small businesses. There is still a lot of confusion out there over what to charge PST on for new small businesses.”

— Patricia Sawatsky, Patricia’s Bookkeeping Services

“I liked the HST better.”

— Janet Smith, GCS Technology Services www.gcstech.ca

“It really makes no difference to me. I collect it and pay it out. I just think it’s a shame all the money we spent on the changeover, the re-doing of the tills, everything.”

— Terri Cranton, Discovery Specialty Advertising www.discoveryspecialty.com

“No. People have commented: they like the lower prices with the GST.”

— Shelly Jenkins, Popsey’s Log Cabin Restaurant www.popseys.ca

“In a business publication? Pretty one-sided argument there, isn’t it?”

— Laine Valentine, West Coast Helicopters. www.westcoasthelicopters.com

“...the buzz around town

isn’t even related to these projects,

but rather two larger projects.

”


I can’t overstate my excitement over the levels of optimism and

enthusiasm in our community right now. There’s so much going on here in terms of

commercial real estate, and it’s creating a real vibrancy in the community.

Much of this excitement is focused on downtown. The $4 million Transition Society building (Rose Harbor) is under construction now. Then there’s Berwick’s 123-unit long-term care community, a $23 million project set to begin in a couple of weeks. And of course, there’s the new Seymour Pacific office building, a state-of-the-art, $15 million project. The building’s design incorporates some

wonderful timbers into the exterior, which will make this a very appealing building and a welcome replacement to a previous eyesore.

And there’s more. In April, construction began on a new commercial shopping centre, Timberline Village, at the corner of Hilchey and South Dogwood. Preliminary value so far, based on tenancy and occupancy, is a $3.5 million price tag that will no doubt escalate.

All of these projects will hire local workers where they can, which means a

lot of new employment in Campbell River and a sizable injection into the local economy.

The current Campbell River development boom is unprecedented in recent history. For example, there’s a new apartment building under construction and two more that are in the permit stage. How significant is this? Before this new construction, there had been only one new apartment building built in Campbell River in the last 20 years.

Looking ahead, the scuttle around town is of a new 50-unit (or so) boutique hotel to be built next to the downtown

Berwick facility. Again, this is significant: there has not been a hotel or motel built in Campbell River since 1987.

While this is all very exciting, most of the buzz around

town isn’t even related to these projects, but rather two larger projects. The first is the John Hart Generating Station replacement project, the value of which is close to

$1 billion. The other big project is the new hospital, which has a tentative construction date of April 1, 2014.

A lot of the projects coming to fruition today are due to a lot of hard work, effort and planning on the parts of many people in Campbell River, including the great vision of current and previous city councils.

Roy Grant has served the Campbell River area for over 20 years, practicing commercial, investment, industrial and residential real estate. He can be reached at 250.287.2000 or [email protected].

Roy Grant, Coast Realty Group

Exciting times for Campbell River

“...the buzz around town

isn’t even related to these projects,

but rather two larger projects.

”

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We all know that effective communication

with employees is crucial. And the first rule of effective communication is listening. But you must go further, and actually let your employee know

you’re listening. Assuring him/her that you’re focused on what they’re saying will improve communication and make both of you feel better about yourselves.

As in any relationship, effective communication between employees/employers requires a healthy balance of listening skills. Listening attentively means you’re being curious, respectful and mindful of what the other is trying to say. Note that listening is more than just using your ears – it works to enhance your relationships by demonstrating the importance of another person’s story.

Listening also takes work, because it requires that you be aware of your automatic reactions, perceptions and feelings. If you’re struggling with “right or wrong” thinking, or already preparing what you’re going to say next, then you’re missing the boat and the communication flow will be pressured.

Here are six tips for effective listening:

1) Listen like no one else matters

2) Be silent and don’t interrupt

'*�� encouragements (e.g. head nods)

4) Summarize what you heard

5) Validate your counterpart’s points and emotions

6) Ask what he/she needs or wants from you.

Learning the art of listening requires courage, intelligence, a positive view and creativity. But few can deny that the gift of listening is integral to the growth of all types of relationships – be they with your employees, your spouse, your business partner or anyone else.

Danielle Lambrecht is a clinical counsellor specializing in mental health, addictions and trauma (big ‘T’ and little ‘t’).

She can be reached at 250.898.9857 or online at daniellelambrecht.ca.

Danielle Lambrecht, clinical counsellor

Effective listening with employees – and anyone else

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Emily Hovey, CFP Associate Portfolio Manager

Alitis Investment Counsel is pleased to welcome Emily Hovey, CFP to our team in the role of Associate Portfolio Manager (APM).

In her role as an APM, Emily will be assisting clients with their financial planning needs. Emily comes to Alitis with more than four years’ experience in the Financial Industry. Emily’s qualifications include the Certified Financial Planner (CFP) designation, a diploma in Finance, and an Associate of Arts in Economics from Camosun College in Victoria, BC. Emily is also actively pursuing the CFA designation.

Emily recently relocated to the Comox Valley from Victoria with her family. She enjoys living in a smaller community and is excited to take advantage of the opportunities that the North Island has to offer.

Alitis Investment Counsel is an established Portfolio Manager with offices in BC and Alberta. Alitis helps individual investors in the areas of discretionary portfolio management, financial planning*, insurance*, and tax and estate planning*. Alitis also assists institutional investors in the areas of discretionary portfolio management and portfolio advisory services.

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Historically speaking, businesses that

hold a license to operate – including commercial fisherman with a license from the Department of Fisheries and Oceans (DFO) – haven’t been able to use that license as security for a loan. Thanks to a proactive DFO initiative, though, that’s slowly beginning to change.

The law does not recognize licenses as actual property; they’re seen as a privilege, and therefore not a tangible asset. This has meant that banks and other financial institutions were unwilling to lend money using a license as security. Although it’s widely accepted that most licenses indeed have value on the market, the issuing body’s ability to decline a transfer or new license holder make lenders uncertain regarding the enforceability of their security.

There has, however, been a sea change in terms of securing a loan with a license, and this change has come from within the commercial fishing industry. About a year ago, the DFO created a new policy to address this

conundrum. In order to allow recognized financial institutions to provide financing for commercial fisherman, the DFO created the “Notice to Department of Fisheries and Oceans of a Financial Arrangement with a Lender.” Once both the borrower and the lender complete this form and it’s registered with the DFO, the DFO will advise the lender of certain activity relating to the license, and the borrower requires the lender’s authorization to make certain changes to the license.

Originally, this allowed only recognized financial

institutions to register their security against a commercial fishing license. Recently, however, it’s been expanded to allow private lenders and other

creditors (like packing plants and credit-providing suppliers) to secure their interests against a license. Allowing this security not only makes it easier for commercial fisherman to obtain financing, it also indicates an overall shift in the government’s

policy toward lending in general. This is where it really gets interesting.

In recent years, banks have been less willing to lend and have been stricter on the security they’ll accept on a loan. Typically, banks will only

lend when they can obtain security against hard assets such as property or equipment, which makes it very difficult for potential purchasers to obtain the financing to carry on an existing business or to start a new business.

Banks have already seen the value in this new DFO program, however, and have started allowing

borrowers to use their commercial fishing licenses as security. This is the first indication of flexibility in lending in a long time.

Gemma Simonett is a Barrister & Solicitor with CR Lawyers (Shook, Wickham, Bishop & Field). She can be reached at 250.287.8355, [email protected] or at www.crlawyers.ca.

Gemma Simonett, Barrister & Solicitor, CR Lawyers

Commercial fishermen have more fish in the financial sea

www.TheDigitalOrchard.ca

Grow your businesswith an effectiveonline presence.

Be found online!

I often see people at the launch of their small business or

network-marketing career. I sense tremendous excitement, huge potential and great aspirations. Then time passes and they disappear. It reminds me of a well-known story . . .

An old man is walking alongside his grandson in the cemetery and asks, “Can you see them? Can you hear them? Architectural wonders; beautiful paintings; books

of life adventures; impressive musical compositions; memories of exotic destinations.” The boy responds, “Grandfather, I see none of this.”

The old man, you see, knew that his son was at a crossroads and was about to relinquish his dreams. It had gotten too tough and the boy was ready to give up. So the elder answers, “No, you will never see them. They all went to the grave when their owners died. They are dreams never to be realized.”

Don’t take your goals and dreams to the grave with you.

You have one life to live, so live it to the fullest! Don’t allow excuses to take you out. You can

make excuses or you can make money – but you can’t make both!

Ninety per cent of businesses fail, and only 3% of network marketers make over $35,000. Will you do it nine times so your tenth becomes the big hit? Are you prepared to do what others don’t

so you will have tomorrow what others won’t?How much have

you invested in personal development, business skills or sales training? Each of us can learn the skills of “how” to earn six figures, even seven figures. It’s the “now” that tends to take us out.

Excuses, fears, procrastinations, yadda yadda . . . we must get past them all if we want to radically change our lives.

Getting the right training is critical to your success. Seek out programs that will help you get past obstacles and fears that are holding you back; programs that will keep you on track so that you don’t slip back into bad habits and limiting comfort zones.

Does your business budget for education? If not now, then WHEN? If you think education is expensive, try ignorance!

Equip yourself with proper training NOW so your story is one of massive success and you’re remembered as “the one who did it!”

Ricia Adair is the author of “Top Ten Stupid Things People Do to Sabotage Their Success in Business,” founder of Zenith Training International and recipient of over 35 business awards and accolades. She can be reached at [email protected] or online at www.achievewithzenith.com.

Ricia Adair, Zenith Training International

The top stupid things people do to sabotage their… Part 2

“How much have you invested

in personal development,

business skills or sales training?

”

Purpose - con’t from pg. 1

“Programs like ours can

provide them with the knowledge and

tools they need to succeed,

”

“Banks have already seen

the value in this new DFO

program,

”

lot of situations really works well to provide help, at least financially.”

One local organization that has embarked upon the social enterprise journey, with the help of ENP, is Campbell River’s Opportunities Career Services Society (OCSS).

“As a society, we have a mandate to do certain things for the community and we get our funding from the government,” says OCSS executive director René Quintin. “But what the funding is for and what the goals are may not always be the same thing. You can’t use government funding for things it’s not intended for, so we need other sources of revenue. And of course, with cutbacks, there is less money and fewer programs, which makes it difficult to keep offering the same

services.”

Incorporated as a non-profit society since 1985, OCSS provides North Island residents with career assessment, skill development, short-term training and resume writing services. Last year they decided to enter the marketplace and now offer various other services to the public in order to raise unrestricted funds.

“Our new branch is called Opportunities Employer Solutions,” explains Quintin. “Its activities include productivity training, recruitment services, temporary staffing services and bookkeeping. We’ve found it to be a great way for us to generate unrestricted funds for OCSS programs. ��=�� enterprises, this isn’t an employment program that serves OCSS clients, but

it does provide much-needed funding so that their programs can stay afloat.

In addition to raising much-needed capital, social enterprise can provide an opportunity for non-profits to advance their mission and can act as a vehicle for social innovation. Other times, the enterprise simply meets a need that hasn’t yet been filled in the marketplace.

“Non-profits are really great at what they do in the community and often have all the right passion and social purposes, but they often don’t have the business skills or acumen to move their social programs and integrate

them with the business model,” says LePage.

“Programs like ours can provide them with the knowledge and tools they need to succeed, such as

guides, grants and workshops.”

The growth of social enterprise, admits Quintin, is a sign of the times as belts tighten and government contracts become more prescriptive. But he insists that it’s not necessarily a bad thing.

“It forces societies like ours to come up with creative solutions and maybe learn new things along the way,” he says.

“What other alternative do we have?”


I recently received a call from my out-of-province parents

regarding a pre-paid funeral plan they’d purchased from their local provider. (After years of my going on about the importance of pre-arranging final plans, they actually listened!!)

They were apparently celebrating the “one less thing we need to do” rush when they were told a “Funeral Home Representative” would be coming by to personally

deliver their certificates. The rep asked that they both be home, as he just needed to “finalize a few things” and get their signatures.

Turns out, their policy was actually a pre-paid trust, which means the funds were held by the funeral home, not an insurance policy. Also, their $7,000 “Cremation Plan” was lacking in some details – like ALL of them!

The helpful “Funeral Home Representative” offered to “complete their plan” by adding the transportation fees, registration fees, documentation, shelter, casket and other “miscellaneous expenses” (i.e. basic legal requirements) for a mere $18,000 more.

He also pointed out that failure to pre-plan was proven to result in additional expenses for grieving loved ones of 20 to 40 per cent over and above the $25,000 they

were now being asked to pay. And their fully transferrable plan? Turns out it was fully transferrable as long as you used another one of their company’s corporate providers.

That’s when my parents kindly asked the rep to give them some

time for quiet review of their plan and I suspect he was followed out the door by his briefcase, which I’m sure narrowly missed the fishpond before neatly landing on the sidewalk. My parents then called me.

Long story short, complaints were made to

the provincial regulatory board, the funeral trust was cancelled and we have now set my parents up with a reasonable, fully insured cremation plan that doesn’t require them to re-mortgage their home.

When in doubt, review your plan. No provider should allow you to pre-plan or pre-pay funeral arrangements unless ALL legal requirements are explained and are included in the cost of services.

As a consumer, you have rights. If you have a moment, you can review those rights at www.consumerprotectionbc.ca/cemetery-funeralservice-portal.

If you have any concerns about pre-planning, or just want reassurance about an existing plan, we’d be pleased to review it with you at no charge for extra peace of mind.

*No Funeral Home Representatives were harmed in the writing of this story*

Sandy Poelvoorde is the owner of Boyd’s Funeral

Services Ltd. (“Quality care you can trust”) She can be reached at 250.287.2240 or online at www.campbellriverfunerals.com.

Sandy Poelvoorde, Boyd’s Funeral Services

Even the best paid plans . . .

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“...a reasonable, fully insured

cremation plan that doesn’t require

them to re-mortgage their

home.

”

Ah, spring cleaning time. In terms of your business,

aside from the actual washing of windows and extermination of dust bunnies, springtime presents an opportunity to streamline and simplify your work processes.

When it comes to making things easier, there’s one piece of office equipment that really leaves the rest behind – the multifunction printer (MFP). As the name suggests, the MFP takes on the work of numerous pieces of equipment while saving time, space, energy and – ultimately – money.

If the last piece of multifunction office equipment you bought was a stapler (“look, it’s also a paper weight and a spider squisher!”), then it’s time to learn a little more about MFPs. Taking the place of a copier, scanner, printer and fax, this piece of hardware really does it all. And advances in technology have made them more affordable, while increasing their capabilities.

In an earlier column, I summarized the major benefits of total cost of ownership and functionality you obtain with a “commercial grade” MFP versus a “consumer grade” MFP that you buy at a big box store. Simplifying your work processes needs a

“commercial grade” MFP as a foundation.

Take scanning for instance. While scanning eliminates the need for paper files, it can still be a very labour-intensive process, with you having to determine what the randomly generated name tag means, renaming the document, creating a new folder on your computer or dragging it to an existing folder. Imagine being able to scan a document directly into the appropriate folder with the push of a single button on the MFP’s control panel.

Or perhaps you have a business with multiple locations and numerous managers. Trying to get invoices sent, approved, signed and paid on time can be a nightmare. Can you visualize a system that scans and routes invoices to the appropriate manager and sends reminders so late fees are avoided? Imagine

how much time you can save if your MFP/electronic document management system organizes this process for you and also gives you up

to date project costs.

Less need for office space, more accuracy, increased organization, fewer late charges, timely responses to

customer inquiries and savings of time and energy are just some of the benefits of MFPs. There truly are few pieces of office equipment that can compete.

If your work processes are driving you crazy, we’d be glad to help you simplify.

AGS Business Systems has been providing office technology to Vancouver Island customers since 1976 and prides itself on being 100% locally Island owned and operated. Don Linder can be contacted at 250.871.0116 or don.linder@ agscanada.com

Don Linder, AGS Business Systems

Simplifying your work processes

“There truly are few pieces of

office equipment that can

compete.

”


The point of advertising is to encourage

prospects to buy your products or services. To do this, we need to show our prospects why they

should buy our products.

So far so good, right? But here’s where our psychological irrationalities can get the better of us as consumers: we don’t necessarily need a compelling reason to purchase a product – often, we just need a reason.

A classic social experiment conducted by Harvard social psychologist Ellen Langer will help demonstrate what I mean. Langer tested the importance of providing a reason for compliance by asking a small favour of several people waiting in line to

use a library photocopier.

First, Langer asked: “Excuse me, I have five pages. May I use the Xerox machine?” Human nature being what it is, in that most of us tend to be nice people, 60 per cent of people asked in that manner allowed her to cut in.

But then she phrased her request differently: “Excuse me, I have five pages. May I use the Xerox machine, because I’m in a rush?” Suddenly, 94 per cent of

people let her in. That’s a substantial boost in response simply by giving a reason why!

Again, human nature being what it is, perhaps it shouldn’t be surprising that nearly all people asked were willing to help out someone in a rush. Realizing this, Langer once again changed the

phrasing of her request, and that’s when the experiment got truly interesting.

The new question was:

“Excuse me, I have five pages. May I use the Xerox machine, because I have to make some copies?” It may occur to you that everyone waiting in line for the photocopier needs to make copies, and thus Langer’s “reason why” was completely irrelevant. Once again, however, nearly everyone allowed her to cut in line– a whopping 93 per cent.

Clearly, it wasn’t the reason that made people comply, but rather the simple fact that there was a reason.

The take-away for advertisers is that it doesn’t hurt to give your prospects a reason why they should purchase your products. So on your

website, instead of simply writing, “Call now,” you might try, “Call now because we’re here to discuss your needs.” Heck, from what we’ve seen, you could probably write, “Call now because we like ice cream,” and still notice a boost in response.

Although if that’s your most compelling reason, you might want to consider another line of work.

Ryan Parton is a professional copywriter and the owner of Ryan Parton Writing Solutions. He’s also the executive editor of the Campbell River Business Gazette. For more information, visit www.ryanparton.ca or call 1.877.702.1103.

Ryan Parton, Ryan Parton Writing Solutions

Psychological Selling: The power of ‘why’

“That’s a substantial boost

in response simply by giving a

reason why!

”

You may not know it, but the record-keeping and

accounting requirements for non-profit organizations (NPOs) are unique and require special attention. This, combined with recent accounting standards changes, means that anyone responsible for an NPO’s bookkeeping and financial recording has a lot to keep in mind.

NPOs receive funding from a variety of sources, including members, donors and government agencies. All of these contributors expect assurance that their funds are being used properly. It’s important to understand the nature of the reporting that will be required by stakeholders when setting up your accounting system in order to avoid complicated and expensive corrections later.

Here are the first few steps for setting up your system:

STEP 1: Choose someone to be responsible for the organization’s bookkeeping. This may be a director, paid staff

member, or external bookkeeper. Chose someone who’s trustworthy and knowledgeable, and always have a check-and-balance system in place. There are far too many examples of non-profits falling victim to clever but dishonest bookkeepers.

STEP 2: Open a bank account through which all funds will flow. There should be at least two signing authorities, and all cheques issued should require two signatures. This account will provide part of the record-keeping through monthly statements and bank reconciliations. Shop around; there are many banks and credit unions that offer special packages for NPOs.

STEP 3: Issue pre-numbered duplicate receipts for all funds received, making sure they include the source, purpose and amount. This information will determine how the contribution is treated in the accounting records.

STEP 4: Make sure every payment you make is supported by an approved invoice. Prepare a voucher that lists the expense account, appropriate approval, cheque number and amount. Cheques should

not be pre-signed, and each signor should review the attached voucher against the invoice and cheque before signing.

STEP 5: Reporting starts with a monthly financial report to the board of directors. This should include a statement of financial position (balance sheet), a statement of operations (income statement), possibly accounts receivable and accounts payable and, if applicable,

a report on opening and closing balances.

Your stakeholders may require audited, reviewed or notice-to-reader quality financial statements prepared by an external accounting firm. Contact a professional accountant, such as a CGA

or CA, to determine the cost and processes involved. These services can be expensive, but with well-managed and organized bookkeeping, the cost can be controlled.

To learn more about how to get your NPO’s bookkeeping and reporting under control, call Jennifer Baker at Opportunities Employer Solutions at 250.286.3436 or [email protected].

René Quintin is the Executive Director of Opportunities Employer Solutions – A social enterprise…In Business to Make a Difference. He can be reached at 250.286.3436 or [email protected].

René Quintin, Opportunities Employer Solutions

Record-keeping in the not-for-profit world

First quarter construction statistics for

Campbell River showed significant growth in building starts, despite the challenging real estate and construction climate that’s occurring in other regions of Vancouver Island.

In fact, construction values so far in 2013 are up 50% over the same time period last year: $14.9 million compared to $9.9 million during the first quarter of 2012.

New residential starts

were almost exactly where they were last year, but big increases were made in the growth of new commercial projects and renovations to commercial, industrial and government buildings.

The numbers in Campbell River are much higher than those in the Comox Valley. We’ve had much more land zoned for the development of new lots, therefore lot prices are about $50,000 less in Campbell River than they are in the Comox Valley. These lower residential lot

prices means contractors and new home owners can select a lot and build a new home at an affordable price, which is especially attractive to home buyers, investors and recent retirees moving to Campbell River.

The planners and building inspectors at the City of Campbell River offer a quick turnaround time for development and building permit

applications. This friendly attitude toward development means Campbell River will see an infusion of large, ongoing projects that will continue to contribute to growth.

The trend of higher construction statistics will continue throughout 2013, as numerous new projects will be underway. These include a Berwick Seniors Centre, the new head office for Seymour Pacific Developments Ltd., a new hotel and more residential housing.

We expect to see construction values of over $100 million in 2013 for the Campbell River region, making it one of the top spots for construction activity on Vancouver Island.

To receive the first quarter construction statistics for Campbell River and the Comox Valley, go to www.buildinglinks.ca and sign up for four free issues.

Clarice Coty is the editor and owner of Building Links, a weekly construction report. To receive four issues for free, visit www.buildinglinks.ca or call 250.338.5466.

Clarice Coty, BuildingLinks.ca

River City a Vancouver Island construction hotspot!

“...construction values so far

in 2013 are up 50% over the

same time period last year...

”

“...anyone responsible for

an NPO’s bookkeeping and financial recording

has a lot to keep in mind.

”

Equally - con’t from pg. 1

he/she does researching and formulating recommendations.

3. Clients may not be available. Clients could be on vacation or otherwise unavailable, missing important opportunities.

Switching to a discretionary model, which transfers the decision-making power to

the portfolio manager, eliminates all three of the above problems. The portfolio manager can trade investments across multiple client accounts in one cost-effective transaction, at the same time and price for every client. Each client benefits equally from their adviser’s recommendations.

From an efficiency standpoint, advisers can

focus their time on return-generating activities, such as portfolio research, rather than tedious administrative processes. Clients are freed from the stress of approving each investment decision and from being constantly available to their adviser.

So why doesn’t everyone have a discretionary account? Client equality isn’t often discussed, nor is its impact directly

measurable, so the non-discretionary model continues to be the most common.

Furthermore, higher licensing standards for discretionary accounts require advisers to have additional education and experience.

As such, only certain designated firms and advisers can offer discretionary accounts.

So where are you on your adviser’s priority list? With a discretionary portfolio manager, you’re always on top!

Emily Hovey is an Associate Portfolio Manager at Alitis Investment Counsel, a leading edge Portfolio Manager in Canada, providing solutions for investors who want Lower Risk, Solid Return investment solutions.

To learn more, visit www.alitis.ca.

Emily Hovey is an Associate Portfolio Manager at Alitis Investment Counsel Inc. The opinions expressed in this article are the opinions of the author and readers should not assume they reflect the opinions or recommendations of Alitis Investment Counsel Inc. or its affiliates. Opinions expressed in this report should not be relied upon as investment advice.

Is your business celebrating a milestone anniversary in 2013? Call 778.585.0355 or email [email protected] for a free listing in our anniversary feature, part of our June/July issue.

Want a bigger splash? Ask about having a special feature written about your business to honour your special anniversary.

This is your chance to toot your own horn and raise your business’s profile in Campbell River.

Because you deserve it!


Tel: 250-287-2427 | Fax: 250-287-3638 | E-mail: [email protected]

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Though we provide rentals for all kinds of corporate events

and functions, right now it’s wedding season. With that in mind, here are 2013’s hottest wedding trends.

Dress code – 2013 is all about glitz and glamour. Black tie and full-length gowns for everyone; think back to the era of the Great Gatsby for inspiration.

Flowers – Insiders predict the flower of the year will be the peony. Soft, lush and romantic, it’s a flower that feels opulent yet still natural. With only a two-month bloom time, however, brides need a backup (consider a garden rose).

Invitations – Playful patterns, whether on the back, the border or as a splash of design on the

invitation liner, are all the rage this year. Chevron, Moroccan and honeycomb patterns are all trending.

Food – Forget buffets, the catering trend of 2013 is plated dinners. Fresh and local are the two most common requests from brides in the know, and dessert bars will continue to be huge.

Drink – Sorry Carrie Bradshaw – cosmos are out this year. Instead, serve artisanal cocktails – think champagne bar with an assortment of infusions, from lavender-lemon to candied ginger. Make a statement with your signature drink.

The cake – Tall and slender is the look this year. Red velvet, chocolate and vanilla take top spots but mouth-

puckering tastes like mango and passion fruit will make appearances as well. The decoration is clean and modern with

just a pop of embellishment, such as a monogram or flower.

The dress – We’ll be seeing lots of old Hollywood glamour this year: sleeves, blush colour gowns and more. The style of the 1920s is a classic look for brides, and it

accommodates a variety of shapes and silhouettes.

After three years in business, we’re excited to

have expanded our delivery area to include Campbell River. From intimate celebrations for 20 close friends to grand weddings of 200-plus, no function is too big or too small.

Whether you’re planning a wedding, a corporate retreat or something completely different, we’ve got you covered – from catering equipment and tents to linens, tables, chairs and more.

We sweat the small stuff so you don’t have to!

Relay Event Rentals can be reached at 250.871.4646 or online at www.relayevents.ca Mention this article and receive free delivery with your order!

This year’s hottest wedding trends

“We sweat the small stuff

so you don’t have to!

”

Business owners are continually asking me about group

health plans for their companies. More often than not, the plan that I end up recommending is the Chambers of Commerce Group Insurance Plan.

The Chambers plan carries all the traditional coverages – life, health, dental, disability, critical illness – but delivers so much more. It’s the largest plan of its kind, providing custom

coverage to more than 28,000 firms, and it’s customizable to meet the needs of your business and your employees. By choosing the types and levels of benefits you want from a wide range of choices, you can get the precise coverage you want to offer your employees while controlling your costs at the same time.

In addition to coverage, the Chambers of Commerce plan comes with three guarantees, which are key to keeping your plan in place for years to come:

1. If you have three or more employees, you can choose from options that guarantee benefits to everyone.

2. If you pay your premiums on time, your coverage is guaranteed

renewable.

3. Regardless of claims submitted under your plan, your firm will never be singled out for a rate increase – guaranteed.

As for additional benefits, every Chambers plan includes Best Doctors, which helps employees and their families make informed decisions about their

health care when it matters most. Long-term disability coverage includes coaching services for employers facing difficult personal issues, and employers can even refer employees for counselling.

Health options give your employees preferred vision and hearing services, discounts on eyewear purchases, laser eye surgery and hearing

devices, plus a health access phone line for immediate answers to health, nutrition and regional resource questions.

The plan even offers the My-Benefits software, which allows you to administer your group plan from anywhere, anytime.

I’ve said it before and I’m sure I’ll say it again: the Chambers of Commerce Group Insurance Plan gives you so much more for your employee benefit dollar. Whether you’re a member of your Chamber of Commerce or not, you can request a free quote at www.buychambers.ca.

Alternatively, you can simply give me a call and I’ll help you choose the options that are right for your company.

Darren Kardynal is an insurance broker with Glacierview Financial Services Ltd. For a free, no-obligation quote call 250.890.7580 or email [email protected].

Darren Kardynal, Glacierview Financial Services Ltd.

Chambers health plan too good to be overlooked

“...the Chambers of Commerce

Group Insurance Plan gives you so much more

for your employee benefit dollar.

”

Keltie Langille, Relay Event Rentals

The City of Campbell River will host two information

sessions May 22 to help students and business representatives gain a better understanding of City services and operational challenges.

As part of Local Government Awareness Week, students from Carihi and Timberline schools will get a hands-on chance to weigh the balance between an ever-increasing demand for City services and a limited budget.

The same day, the Chamber of Commerce will host a lunch session

at the Coast Discovery Inn with Jerry Berry, a renowned local government expert, who spent much of his career working in municipalities on Vancouver Island. Berry’s government work was recognized for strategic planning, environmental protection, community engagement and innovative use of technology. Berry will donate his time to deliver an energetic presentation about the history and role of local government – as well as a look at the challenges faced by City Councils. The presentation will include time for questions.

The student session also promises to be

informative, entertaining, interactive and fun. In a session inspired by the Sim City video game, where people play at building and maintaining a community, students will tackle the City budget in Council Chambers at City Hall. City staff representing different departments will sum up services provided to the community – and try to drum up funding support. Students will vote with City Hall bucks, and the results of their budget will be compared against Council’s budget for City services.

“It’s important to know what’s happening in your City. Being involved and learning about local

government also teaches leadership skills that you can apply to other areas of your life,” says Michael Stevantoni, a Grade 11member of Campbell River’s Youth Action Committee.

“It’s important for youth to learn about how local government works because youth are the future of local government, and we will be better equipped to create the change we want to see,” says Mariah Carpenter, a Grade 11 member of Campbell River’s Youth Action Committee.

Contact: Peter Wipper, City Clerk 250-286-5707

Delivering democracy: Students and businesses get to know City of Campbell River during Local Government Awareness Week Peter Wipper, City Clerk


AG

Swww.agscanada.com

Why Choose AGS?

Ricoh

Canada’s

Award

Winning

Dealer

AGS

1.) Don’t read a script – �� U��professional, a prepared script will sound forced and lose authenticity. Instead, have your station prepare a list of questions and interview you in the studio. Give frank and honest answers; your station will build a salient message around them.

2.) Don’t go out of character – If you’re not funny by nature, don’t try to be in your ads. If you’re a real character, build upon that identity.

3.) Stick to it – You’ll get tired of hearing your message just as the public is starting to grasp it. Let each spot run long enough to be effective.

4.) Check your ego at the door – Only voice your own commercials if it’s strategically correct to do so. It’s not about hearing your own voice, it’s about

bringing credibility and memorability to your campaign.

5.) Be approachable – If you’re to be front-and-centre in your advertising, you must also be front-and-centre in your business. If customers can’t approach you with comments and complaints, you don’t qualify to be your own spokesperson.

6.) Personify your company – If you decide to be your company’s spokesperson, you must be prepared to be its persona 24/7. You can’t be charged with ��Z��#��night and be the voice of your business on Monday morning.

7.) Focus on the listener – Your campaign can’t be about you and your company, it must be about what you and your company can do for your prospects and customers. Always talk from a customer’s point of view.

8.) Commit some time – Be prepared to regularly schedule studio time. Be continuously on the lookout for timely and topical ways to rephrase your message.

9.) Listen – Listen to your customers, your advisers and media professionals before going ahead. Test-market your voice to see how the marketplace perceives you.

10.) Network – If you decide there’s merit to voicing your advertising, then consider extending your character into a planned networking campaign. Do lots of

meeting and greeting, and have a coupon or small gift you can use to entice the people you meet to come to your business.

As a business person, you’re always looking for standout ideas that

your competitors can’t copy. They can NOT copy � �� correctly and consistently might just be that standout approach you’ve been looking for.

Bill Cymbala, a Campbell River account executive for 97.3 The Eagle, has spent many years in radio & television media marketing. To learn how to cost-effectively invite Eagle listeners to your business, email [email protected] or call 250.830.1080.

Bill Cymbala, 97.3 The Eagle

Ten tips for personal selling in advertising

“...might just be that standout

approach you’ve been

looking for.

”

Congratulations to Natasha Davis, winner of the

Business Gazette’s subscription prize package!

Natasha won a weekend of small business training courtesy of Zenith Training International, a two-night stay at the Beach Club Resort in Parksville and dinner for two at Kalvas Restaurant.

She’s pictured here with three-year-old Jaxon and Gabriella, who’s due to make her way into this world in June.

Congratulations to our contest winner!

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