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Waiting Too Long To Seek Financing Is A Common Mistake Made By Small Businesses

You might feel that you want to give your businesses every chance at success by waiting until you get into financial difficulty before seeking financing. While this might sound logical on first thought, your best shot at getting a loan from a financial institution is when you are working from a position of financial strength. In other words, managing the financial end of your business takes on-going review and planning to anticipate a future cash crunch so that you can seek financial assistance well in advance. Although it could be possible to cover costs and cash flow gaps with personal funds, it often doesn’t make sense. Many successful business owners rely on financing of some type, whether it be debt, equity, or a combination of these and other options. No matter what kind of small business financing you choose to pursue, make sure that you explore all the options available. Discuss them with your financial institution well before your next cash crunch.Advertisements
Customer Follow-up is Essential

When your customers have an issue with a service or product, it is critical to deal with the matter promptly with as much concern for their satisfaction as possible. The second most important thing to do is to follow-up with your customer after the problem is solved. Whether you give them a call, send them an email, or provide them with a feedback survey, this effort will be instrumental in letting your customers know that you care about their patronage. It will also let your employees know that customer satisfaction is a top priority. Besides demonstrating your concern, asking your customer for feedback can provide invaluable information to improve customer service and other internal processes.Advertisements Think of customer issues as both a chance to solve a problem and an opportunity to gain a lifelong customer. Treating all customer issues as an opportunity for learning, future decisions, and the way you grow your business will reflect a client-driven process and set you apart from your competition.
Creating Success Through Online Business Partnerships

While much has been said recentlyabout the advantages of sharing your physical business space to increase traffic, the same can be said for social media. Using your social media resources to cooperate with other businesses in the community, the whole becomes greater than the parts. Don’t be afraid to support your neighbour. When local businesses succeed, everyone wins. Use your social media to profile your customers or community and share their success. By demonstrating a positive and cooperative attitude, your business will become associated with good things that happen.Advertisements As your clients start to share your social media with their contacts, and your social media is connecting with people you have yet to meet in-person, you will know that you are well on your way to building an online presence that will help enhance and grow your business.
LEE’S BURGER BARON BUILDS BRAND AND BUSINESS

Lee Thom, co-owner of Lee’s Burger Baron on Main Street doesn’t pretend to be a business expert, but he knows a thing or two about making connections with the community and customer appreciation. March 6th was the one-year anniversary of restaurant ownership for Lee and his wife and business partner Lisa. They’ve learned a lot in a short period of time. On the business side of things, Lee is quick to point out that when they bought the business he had little knowledge of things like setting up GST or CRA accounts, or with anything on the accounting side of things. He was also surprised about the number of suppliers he would need to work with in order to keep the restaurant in operation. Lee is proud of his wife Lisa who is gradually taking over the accounting side of the business, and also grateful for his kitchen staff who have maintained the menu established by the previous owner.Advertisements To compensate for being new business owners, Lee and Lisa focused on working hard, doing things right, and providing the best possible customer service. With this in mind, along with an energetic pick-up and delivery model, even with pandemic restrictions, Lee’s […]
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Waiting Too Long To Seek Financing Is A Common Mistake Made By Small Businesses
You might feel that you want to give your businesses every chance at success by waiting until you get into financial difficulty before seeking financing. While this might sound logical on first thought, your best shot at getting a loan from a financial institution is when you are working from a position of financial strength. In other words, managing the financial end of your business takes on-going review and planning to anticipate a future cash crunch so that you can seek financial assistance well in advance. Although it could be possible to cover costs and cash flow gaps with personal funds, it often doesn’t make sense. Many successful business owners rely on financing of some type, whether it be debt, equity, or a combination of these and other options. No matter what kind of small business financing you choose to pursue, make sure that you explore all the options available. Discuss them with your financial institution well before your next cash crunch.Advertisements

Customer Follow-up is Essential
When your customers have an issue with a service or product, it is critical to deal with the matter promptly with as much concern for their satisfaction as possible. The second most important thing to do is to follow-up with your customer after the problem is solved. Whether you give them a call, send them an email, or provide them with a feedback survey, this effort will be instrumental in letting your customers know that you care about their patronage. It will also let your employees know that customer satisfaction is a top priority. Besides demonstrating your concern, asking your customer for feedback can provide invaluable information to improve customer service and other internal processes.Advertisements Think of customer issues as both a chance to solve a problem and an opportunity to gain a lifelong customer. Treating all customer issues as an opportunity for learning, future decisions, and the way you grow your business will reflect a client-driven process and set you apart from your competition.

Creating Success Through Online Business Partnerships
While much has been said recentlyabout the advantages of sharing your physical business space to increase traffic, the same can be said for social media. Using your social media resources to cooperate with other businesses in the community, the whole becomes greater than the parts. Don’t be afraid to support your neighbour. When local businesses succeed, everyone wins. Use your social media to profile your customers or community and share their success. By demonstrating a positive and cooperative attitude, your business will become associated with good things that happen.Advertisements As your clients start to share your social media with their contacts, and your social media is connecting with people you have yet to meet in-person, you will know that you are well on your way to building an online presence that will help enhance and grow your business.

LEE’S BURGER BARON BUILDS BRAND AND BUSINESS
Lee Thom, co-owner of Lee’s Burger Baron on Main Street doesn’t pretend to be a business expert, but he knows a thing or two about making connections with the community and customer appreciation. March 6th was the one-year anniversary of restaurant ownership for Lee and his wife and business partner Lisa. They’ve learned a lot in a short period of time. On the business side of things, Lee is quick to point out that when they bought the business he had little knowledge of things like setting up GST or CRA accounts, or with anything on the accounting side of things. He was also surprised about the number of suppliers he would need to work with in order to keep the restaurant in operation. Lee is proud of his wife Lisa who is gradually taking over the accounting side of the business, and also grateful for his kitchen staff who have maintained the menu established by the previous owner.Advertisements To compensate for being new business owners, Lee and Lisa focused on working hard, doing things right, and providing the best possible customer service. With this in mind, along with an energetic pick-up and delivery model, even with pandemic restrictions, Lee’s […]

According to Gene… Buy Local or Bye Local
Readers of The Pelican may have figured out that we feature local businesses and topics and highlight successes and solutions, so the return to Phase 1 COVID restrictions is a severe blow. Is there any lemonade here for business owners or customers? Can local businesses possibly weather this? This is my challenge for this month’s article. Change the Rules “You can accept the death sentence, or you can change the rules,” is what Graham Sherman from Tool Shed Brewery said in an interview during the recent Power Up Alberta Virtual Event. In short, after overcoming unimaginable obstacles when he was finally getting ahead, COVID effectively shut him down and threatened everything. After an understandable mental slump, he remembered that in every negative, there is a positive and asked himself: Whose Killing it? He canvassed the area around his Brewery, and just about 1km away, he found that Spud.ca was going out of their minds trying to keep up with orders. They needed everything he had: 8,000 ft2 of warehouse space, cooler space and lots of staff. Their problem and his problems saved both businesses. But what about rural and small businesses? We must focus on what we have going.Advertisements 1. […]

Pelican Pawn – Something to Talk About
If you’ve watched Pawn Stars on the History Channel, you might think you have a good idea about how a pawn shop operates, but then again, maybe you don’t. Always Changing Michael McArthur, owner of Pelican Pawn, Lac La Biche’s newest venture into the pawnshop business, may have a surprise for you. His shop, located at 10117-101 avenue just below his pool hall, offers more than you might expect. From brand new to used or, as Mike says, re-purposed items for sale, Pelican Pawn’s stock is unique and continually changing. Of course, you will find ordinary things that any pawn shop would offer for sale – musical instruments, tools, and stereo equipment, but in between all of that, you will find some outstanding pieces of art, antiques, and taxidermy pieces. Once in a while, you might find something special, like a rare guitar or even a Mercedes Benz, for sale.Advertisements McArthur says the idea to open a pawn shop was seeded by the need to fill rental space in his building, but there is more to it than that. He talks about growing up in Red Deer, where his family owns and operates a museum and how his mother inspired […]

Screenshot Bucks the Trend
We’ve heard a lot about the struggles of small businesses in northeast Alberta during the past year, so it’s pretty refreshing when we get a chance to celebrate an enterprise that has been doing quite well. Screenshot Computers and Supplies, a homegrown Lac La Biche small business, is doing just that. Talk is Cheap… and Effective Owners and operators Bonnie Collinge and Ryan Manca have worked hard to keep up with the growing demand for their products and services. They ran out of space at their old location and have moved to a more prominent and larger storefront at 10208 – 101 avenue. When asked about the secret to their success, they point to a focus on customer service and outstanding community support driven mainly through word-of-mouth marketing. Besides a growing inventory, space was also needed for additional staff. Collinge and Manca have hired an on-site technician to assist with the steady increase in business. Advertisements Screenshot has seen a lot of changes in their business in just a short time period. Besides the corporate clients who have traditionally been the backbone of their client base, there has been significant growth in walk-in traffic. Manca says that more folks walking in […]

Lakeland Physiotherapy – Open for Business
Ankita Verma has gone a long way to find the right fit. In Lac La Biche, she has found just that. After graduating from Rajiv Gandhi University in India with a Bachelor of Physiotherapy in 2009, she worked as a physiotherapist for 3.5 years. In 2014, Ankita and her husband moved to Fort St. John, BC. With a good deal of determination, she worked with regulatory agencies to obtain her professional certifications to practice her profession in Canada. After a 3-year stint in Fort McMurray, her journey has led her to Lac La Biche, where she opened Lakeland Physiotherapy located at 100- 10107 102 Ave a few short weeks ago. Bringing Smiles to Lac La Biche Ankita has been very pleased with the steady growth in the number of clients and community support that Lakeland Physiotherapy has received in the short time it has been open. The Lakeland Physiotherapy website points out that “Ankita enjoys working with all age groups and is passionate about helping people to ease their pain, manage their injuries or chroming conditions, and get back to activities that they enjoy. She believes in a hands-on approach and uses a combination of manual therapy, therapeutic exercises, therapeutic […]
Window Washing Warriors was live at Reminiscence – Watch the video
Follow David Shultz from Window Washing Warriors as promotes businesses around Lac La Biche.

According to Gene… WHY WE NEED A GIANT PELICAN
Technology permitting, it’s easy to connect, but hard to get the attention of people in this new Zoom world. There are simply too many options and we’re all likely suffering burnout. Nobody can pay attention to everything they want to, let alone should. So when there is something local that people should hear about it makes the job difficult. What am I talking about? Community initiatives are a great example. Everyone has priorities, but… I am currently working on no less than four major projects to support our local community, region, and province, but it’s hard to reach people right now, even when we create something that answers our needs. Given the current situation, I don’t blame anyone for having other priorities, but it did cause me to ask myself, “What can we do to get people’s attention?”Advertisements A common enemy always brings people together, but there are plenty of those around (COVID being one), and I don’t particularly want to write about that. I want to stay positive, so what else could we use as a focal point for our community? What about a “World’s Largest”? Vegreville has its Easter Egg, Glendon has its Giant Perogy. So why don’t […]