special features - small business

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Small Business Week 2014

INVEST, INNOVATE,

GROW

POWER UP YOUR BUSINESS

Photo courtesy of Futurpreneur

S P E C I A L A D V E R T I S I N G F E A T U R E2 FRIDAY Forward Friday, Oct. 17, 2014

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PROUDLY SUPPORTS THE 2014 SMALL BUSINESS WEEK

Congratulations to all the nominees and best of luck to all the fi nalists at the

2014 BUSINESS OF THE YEAR

AwardsThank you to all our 2014 sponsors!

reddeerchamber.com 403-347-4491

Great little businesses can be great little investments.

And in times like these, with unemployment rates climbing, buying an established business can make a lot of sense. If you have the dedication, commitment and creativity to be your own boss, self-employment could be exactly what you’re looking for.

If you’re interested in buying a successful business, come see us at Community Futures. We’ve just launched an exciting new line-up of loan products – including BizBuyout – especially for the entrepreneur who sees opportunity waiting.

Shift into a higher gear. We can help.

There’s a great little

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Financing to buy an established business.

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www.central.albertacf.com403-342-2055

Community Futures Central Alberta:

Meet the team!Morphing business dreams into

realities — that’s what Communi-ty Futures in Central Alberta has been doing for over 25 years.

Small business specialists work with budding entrepreneurs to cultivate the knowledge, skills, fi-nancing and resources needed to succeed.

A community driven non-prof-it, Community Futures provides a number of services to anyone wanting to start, expand, franchise or sell a business. Programs in-clude how to write a business plan, one-on-one business coaching, net-

working and learning events and financial management.

Left to right, Murray Berezowski, Karli Eckart , Kelly Kierluk and Kelsey Krieger are the faces behind Community Futures Central Alberta in downtown Red Deer.

Murray Berezowski, general manager

S P E C I A L A D V E R T I S I N G F E A T U R E

Prescription Drugs • Dental • Extended Health • Vision • Travel Coverage

Critical Illness • Spending Accounts • Life and Disability

Employee and Family Assistance Program

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Call us today for a confidential, no-obligation quote or talk to your plan advisor.

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Saluting

SMALL BUSINESS WEEK

The Central Alberta Economic Partnership supports small business growth and success by helping communities and businesses with:

www.centralalberta.ab.caPhone: 403.357.CAEP (2237)

Toll Free: 1.888.508.CAEP (2237)

• Website connections • Regional marketing • Training • Collaboration and partnership• Community economic development

73647J17

FRIDAY Forward Friday, Oct. 17, 2014 3

This map shows the area Community Futures’ services cover in Central Alberta.

They also offer business loans, designed to support small busi-ness growth, ranging from $10,000 to $150,000. Developing rural di-versification strategies in partner-ship with business and community leaders, local government, educa-tional institutions, other business lenders and not-for-profits is also a main priority for the organization.

Community Futures is guided by a volunteer board of directors, local business people who bring valuable knowledge and experi-ence to the table.

Meet the board:Cody Berggren, chairmanRussell Crook, vice chairmanJackie Kurylo, secretary-treasurerErnie Murias, directorMayor Dennis Cooper, directorDick Wymenga, directorCouncillor Tammy Burke, directorCouncillor Dale Plante, directorToby Williams, directorCouncillor Curt Maki, director

Funded in Western Canada by Western Economic Diversification Canada, Community Futures has been supporting small business and rural economic diversification since 1986. There are 27 Commu-nity Futures offices in rural com-munities throughout Alberta and a total of 269 across the country.

Kelsey Krieger, administrative assistant

Kelly Kierluk, senior business analyst

Karli Eckart, business analyst


2014 was a milestone year for our office. Along with celebrating our 25th year in business we were able pay off our building. This allowed us to com-plete some much needed office renova-tions. Some staff relocated offices as well as relocating our reception desk, this has resulted in a more functional office. Our large main meeting room has been made into a more intimate Boardroom space. The rest of the large meeting room has been transformed into a state of the art training room and has received very favorable feedback from training participants.

We continue to operate with our two Business Analysts sharing Economic Development Coordinator duties. This has allowed us to maintain our an-nual review procedures for all clients and will strengthen the overall perfor-mance of our loan portfolio. The struc-ture has evolved into a Senior Busi-ness Analyst with less CED duties and a Business Analyst position that has about a 50-50 split between CED and loans administration.

Our loan activity recovered nicely from a slow 2013 with strong demand for our 2014 fiscal year. Our Board ap-proved 19 loans for almost $1.5 million. We were able to advance 16 of those loans for just under $1 million. We were able collect on some previously deemed uncollectible loans totalling over $60,000. Our lending activity as-sisted clients in communities across our region including Red Deer, Olds, Sundre, Eckville, Innisfail, Rocky Mountain House and Sylvan Lake. Within these communities our lending activities were able to create or main-tain a total of 44 full & part-time posi-tions.

Training continues to be large part of the services we offer to our clients. With our new Training Center fully op-erational we were able to add a full complement of Certified Quickbooks training to our course offerings. We delivered a total 81 training sessions in 2013-2014. The number of sessions contributed to strong attendance dur-ing the year with over 270 individuals receiving training through our in-house and other training sessions. Our Busi-ness Analysts provided great service to our clients providing advisory ser-vices to 515 clients throughout the year. QuickBooks training delivered by Deb-bie Romkes of Aggregate Financial Solutions met our expectations with 18 participants receiving training. We will be looking to expand our Quick-books offerings this fall with an Ad-

vanced Course and the addition of a Basic Bookkeeping. Through training or advisory services we had face to face contact with over 780 clients reviewing various aspects of starting or running a business.

We continued our successful sup-port of Entrepreneurship in our region through the Youth Entrepreneurship Camp. This camp assists in developing the entrepreneurial spirit of youth aged 13-15. Other projects included the Park-land Mall, Mall Street Market business contest and the RED Challenge Busi-ness plan competition.

We maintained the visibility of Community Futures within the region through marketing activities including attending 5 tradeshows and sponsor-ing the Small Business week insert in the Red Deer Advocate. Our Business Analyst Karli Eckart assisted Junior Achievement delivering the Econom-ics for Success program. Website visits continue to show a substantial volume of traffic with over 18,135 unique visits in 2013-14.

Community Futures Central Al-berta continues to market our services within the region participating in trade shows as well as speaking to Service Clubs, Chambers of Commerce vari-ous high school and post-secondary stu-dents throughout the region. We offer a wide range of business counselling and training services offered by webinar through our partner Business Link.

Our board is very enthusiastic and are strong supporters of the Community Futures program. We sent 3 members of our Board including our Board Chair Cody Berggren, Vice –Chair Russell Crook and Director Ernie Murias to the fall conference in Edmonton in October 2013. Our board consists of an excellent mix of members at large and elected of-ficials. We were able to add 4 new mem-bers to our Board filling some regional gaps in representation, we now have all corners of our region represented.

Community Futures Central Alberta clients have access to a remarkable di-versity of talents and skills. Our office has an experienced, enthusiastic, hard-working staff and a dedicated volunteer Board of Directors. This team effort contributes to the continued success of Community Futures Central Alberta. I would like to thank our current staff of Kelly Kierluk, Karli Eckart, Kelsey Krieger and our Bookkeeper and Train-er Debbie Romkes for their dedication to Community Futures.

Sincerely,Murray Berezowski

Manager’s Report

Summarized Statement of Financial Position

MARCH 31, 2014

ASSETS 2014 2013

Current Assets $1,102,352 $1,323,731Loan Investments $2,044,091 $1,758,279Capital Assets $ 415,358 $393,949 $3,561,801 $3,485,959

LIABILITIES AND NET ASSETSCurrent Liabilities $58,447 $55,837Demand Debt $15,525 NET ASSETS Share capital 7 7Externally restricted net assets $3,099,822 $3,006,005Unrestricted net assets $403,525 $405,585 $3,561,801 $3,485,959 SUMMARIZED STATEMENT OF OPERATIONSYear end March 31, 2014 2014 2013Revenues $611,578 $548,937Expenses $522,811 $634,183Excess Revenues over Expenses $(88,767) $85,246

LOAN CLIENTS APPROVED 2014 LOAN FUND BY COMMUNITY 2014

2014

$1,102,352 $2,044,091 $ 415,358 $ ,$3,561,801

$58,447

7 $3,099,822 $403,525 $ ,$3,561,801

2014 $611,578 $522,811 $(88,767)

2013

$1,323,731$1,758,279$393,949 $ ,$3,485,959

$55,837$15,525

7$3,006,005$405,585 $ ,$3,485,959

2013$548,937$634,183$85,246

Loan Statistics

Red Deer 42%

Eckville 5%

Innisfail 5%

Olds 16%

Rocky Mtn

House 16%

Sylvan Lake 11%

Sundre 5%

Red Deer 48%

Rocky Mtn.

House 20%

Eckville 8%

Sundre 7%

Sylvan Lake 6%

Innisfail 5% Olds

4%

Bowden 1%

Red Deer

County 1%

Loan Statistics

Sundre 5%


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Shine Factory: A Family Business Committed to

Shine, Protect and DetailB Y T E E N A D I C K E R S O N

Don’t you just love that “new car” look, feel and smell? Supple leather, burnished metal, crystal-clear glass, immaculate surfaces glisten and glow when you first buy a vehicle but soon life has a way of dulling the shine, dribbling the coffee and dusting the carpets. You can get that “new car” experience back — and pro-tect it — at Shine Factory in Red Deer.

Shine Factory is a family owned and run business providing auto-motive detailing and protection services for both private and com-mercial vehicles. They offer clean-ing of the interior, exterior, tires and glass of your vehicle and pro-tection against oil, staining, fad-ing or discolouration. Shine Fac-tory can help retain or regain that showroom new paint finish with

their power polishing system and offers paint protection against loss of gloss, fading and chalking.

The Shine Factory is the largest automotive detailing business in Canada. It has locations in Alber-ta, New Brunswick and Nova Sco-tia. The first Shine Factory opened in Calgary in 1979. The Red Deer Shine Factory franchise is a fam-ily affair; owned by parents Carl and Arlene Sandberg with its daily operations run by daughter Chris-tine Eckert. The Shine Factory franchise itself also has a familial connection to our local commu-nity. The parent company is owned by Stephen Gaetz and run by his daughter, Stephanie Gaetz, of Dartmouth, Nova Scotia. Stephen and Stephanie are descendants of the same Gaetz family as founding father of Red Deer, Leonard Gaetz.

Shine Factory, in its Red Deer location, opened in July and has

been busy since. Community Fu-tures Central Alberta provided the start up financing for this busi-ness. Operations manager, Chris-tine Eckert plans to access some of the business skills training pro-grams that are provided by Com-munity Futures in their continued support of local economic growth and the entrepreneurial spirit in Red Deer. Community Futures Central Alberta offers one-on-one business coaching, training pro-grams, financial management and marketing courses, and network and learning events.

Christine Eckert enjoys working with community members and her business mentor, her father Carl. She recounts a particularly charm-ing client who brought in his an-tique car to be detailed. The client had owned the car for many years,

each of his children had used it during their wedding ceremonies, and it was a prized possession. Christine felt honoured to be trust-ed with the refurbishment and de-tailing of the beautiful antique car.

If you are planning on selling your vehicle, getting ready to store it for the winter, or you just miss your old “new car,” you can con-tact Shine Factory for a quote at 403-358-3790. Pricing depends on the size and condition of your ve-hicle. Gift certificates are avail-able for detailing services at Shine Factory. The Shine Factory is lo-cated at #104-121 Clearwill Ave, Red Deer. The hours of operation are Monday to Friday, 8 to 4:30 and closed on the weekends. For more information on their services and protection packages, visit www.shinefactory.com.


JACK LARSEN3-7819-50th Ave. Red Deer

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QuickBooks Training at Community Futures Central AlbertaBY KATHLEEN RAINES

Community Futures Cen-tral Alberta is an excellent resource to assist entrepre-neurs to develop the skills needed to grow and maintain their businesses. In order to deliver on their mandate to “foster rural economic growth” Community Futures’ four person team offers busi-ness training, financing, coaching and mentoring.

Through their work with clients, the Community Fu-tures team has identified the need to maintain accurate financial records among the greater challenges facing small business owners, espe-cially those who are starting new businesses. Most entre-preneurs embark on a busi-ness venture because they have a great idea or prod-uct or see a market oppor-tunity; few get into business because they love to do the

necessary paperwork! In response to the need and seeing a market opportu-nity themselves, Community Futures has expanded their QuickBooks course offerings to six sessions accommodat-ing the full range of learn-ers from those with no book-keeping background through to advanced level training.

QuickBooks is recognized as a user-friendly software program for small business owners with no or little for-mal accounting background. Community Futures has of-fered QuickBooks training for their clients for over three years, but a facility upgrade last year that saw the installation of a Training Centre fully equipped with Smart board technology and eight computer stations al-lowed them to expand the courses to the general pub-lic.

Instructor Debbie Romkes

is a certified bookkeeper and a QuickBooks ProAdvi-sor. Courses are reasonably priced at only $179 per class with rates decreasing if you bundle two or more classes. The three hour lesson for-mat is manageable, practical and hands on — students can bring their own computers and work on their own ac-counts, or use the Centre’s computers and software and take a copy of their files home on a flash drive. Re-sponse to the courses has been extremely positive, with many registrants taking advantage of the multi-class bundle price.

In addition to offering training in financial manage-ment and in support of their broader business develop-ment mandate, Community Futures staff work one-on-one with entrepreneurs to develop their business plans and tools, and to help them

secure funding. Clients are referred to banks for their initial credit application, and in turn the banks refer many of their applicants who do not qualify for traditional loans to Community Futures whose lending criteria are more flexible than those of

banks, with consideration given to sweat equity, for ex-ample.

For course descriptions, dates and to register visit the Community Futures Central Alberta website at: central.albertacf.com or call the of-fice at 403-342-2055.


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Small business is a major component

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Earl Dreeshen, MP (Red Deer)

Phone: 403.347.7426Fax: 403.347.7423 78

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www.earldreeshen.ca

Manage Your MoneyBY KATHLEEN RAINES

Community Futures Central Alberta offers

training and support to entrepreneurs and po-tential business owners. Courses focus on mar-keting, business and financial management and are offered in small group settings at a reasonable cost. The four person team in the downtown Red Deer office provide one-on-one consulting to help clients develop a business plan and access financing. The need for more targeted training in personal financial manage-ment resulted in a new series being offered for the first time this fall.

Money Skills Training is delivered in three sessions designed to help individuals create and meet their financial goals through a com-prehensive overview of budgeting, managing credit and home rental and purchase options. Cost is reasonable at $50.00 each or $40.00 when taking two or more classes. Each module will position the client to improve their personal financial prospects and credit rating, which in turn makes them a more attractive business cli-ent should they wish to consider starting their

own business at some future point.Community Futures General Manager Mur-

ray Berezowski and Business Analyst Karli Eckart have offered similar courses on request to groups across the region, and are eager to expand their reach with the new programs. “Often teachers contact us to come and talk to their students about financial management,” Murray says. While the focus is not business related, the presentations touch on a number of hot topics making the information applicable to a wide range of individuals, not just young people. If you are interested in having these topics discussed with a group, please contact the Community Futures office.

Community Futures Central Alberta, based in downtown Red Deer for twenty five years, serves a large area of rural central Alberta bordered by Highway 11A on the north, Red Deer on the east and running south to Carstairs and west to Nordegg. Staff deliver training offsite but are especially eager to promote the expanded course offerings through their newly renovated Entrepreneur Training Centre in Red Deer which boasts Smart board technol-

ogy and eight computer stations running Office 2013 and QuickBooks 2012 software.

In support of their broader business devel-opment mandate, Community Futures staff work one-on-one with entrepreneurs to develop their business plans and tools, and to help them secure funding. Clients are referred to banks for their initial loan application, and in turn the banks refer many of their applicants who do not qualify for traditional loans to Com-munity Futures whose loan criteria are more flexible than those of banks, with consideration given to sweat equity, for example. The Com-munity Futures team members value the op-portunities their work offers them to support people as they build their businesses, whether through individual mentoring or in group set-tings.

For full course descriptions, dates and to register visit the Community Futures Central Alberta website at: central.albertacf.com or call the office at 403-342-2055.


Money Skills Training is delivered in three sessions designed to help individuals create and meet their

financial goals through a comprehensive overview of budgeting, managing credit and home rental and purchase options


Alberta Youth Entrepreneurship

Camp:Nurturing Confident and

Creative Kids in the CommunityBY TEENA DICKERSON

“You will have

trial and error but you can’t quit.”

This is the most important lesson about business and life that Conner Wattenbarger, a 14-year-old student at Lindsay Thurber Com-prehensive High School in Red Deer, learned at the Alberta Youth En-trepreneurship Camp.

The Alberta Youth Entrepreneur-ship camp is a week-long camp run by Community Futures, fostering fun and the entrepreneurial spirit in youths between the ages of 13-15 at the Eagle’s Nest Ranch in Cypress Hills. Com-munity Futures Cen-tral Alberta, in Red Deer, sponsors four youth each summer to attend this camp free of charge. The focus of the camp is to edu-cate, inspire, and offer a future in business to youths. The campers learn about marketing, advertising, preparing a cash-flow statement and writing a business plan. The youths bor-row actual money from real bankers to set up their own creative and unique businesses. The very last day of camp is “Business Day” where campers launch their businesses and family and friends are invited to come and peruse their wares. In addi-tion, the camp offers many fun recreational activities that chal-

lenge the campers to explore, succeed and grow, in a safe and edu-cational environment, such as rock climbing and scavenger hunts.

The youth entrepre-neurs create retail ki-osks on their business day in a specific area of the camp. Campers have recently created and sold candles and candle holders, cook-books, painted mugs, picture frames, jew-elry, decorated pens, and food items such as cake pops, popsicles, and cookies. The busi-nesses the campers produce vary from year to year. One of the clev-er products created in the past was a bangle made from toothbrush-es softened in hot wa-ter and formed to fit the wrist. The youth entre-preneurs come up with the ideas for their busi-nesses and the adult volunteer leaders facil-itate, in a support role, in the production.

Volunteer Karli Eck-art, business analyst at Community Futures Central Alberta, feels that the camp is impor-tant because she sees campers gaining life skills that are not only useful in business but in all realms of their lives.

“People gain really great life skills; they work on their network-ing skills, they speak to people in high author-ity roles, they negotiate with bankers, as well as

gaining life long friend-ships, and of course, the entrepreneurial skills,” Eckart says. She has been volunteering at the Alberta Youth En-trepreneurship camp for four years and con-tinues because she loves to see the youths’ personal evolutions from shy kids on the first day to confident, engaged and enthusi-astic individuals by the end of the week.

Confident camp at-tendee, Conner Wat-tenbarger, would rec-ommend the Alberta Youth Entrepreneur-ship Camp to any of his friends, “because it is really fun, it’s cool to hang out with all of the people there, and you always meet new friends at camp.”

If you would like to see more photos from past Albert Youth En-trepreneurship camps, check out the appli-cation form, or learn any other information about AYEC, visit their website at www.ayec.ca or contact them toll free at 1-888-528-2824.

S P E C I A L A D V E R T I S I N G F E A T U R E FRIDAY Forward Friday, Oct. 17, 2014 11

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Planning to Fail: How Mistakes Can Help Your Business

FROM THE BUSINESS DEVELOPMENT BANK OF CANADA

Every entrepreneur feels it at some point: the fear of failure. On-ly half of new businesses make it to their fifth birthday, and that can cause entrepreneurs a lot of stress. However, experts say failure can actually lead to major accomplish-ments.

In fact, failure has been a key ingredient in some of the business world’s great success stories, says Mi-chel Bergeron, Senior Vice President of Marketing and Public Affairs at the Business Development Bank of Canada (BDC). “Canadian entrepre-neurs and the public at large need to be more forgiving about failure. Fail-ure–and learning from mistakes–is often an important milestone on the path to success,” Bergeron says. “We have to change our perception about failure in order to help business own-ers stay in the game.”

Deborah Conroy of EY agrees. She points to the new BDC Entrepreneur-ial Resiliency Award, an initiative

that recognizes a Canadian business that has successfully undergone a turnaround or pivotal event in the past and come back stronger be-cause of it. “Many entrepreneurs talk about some kind of massive failure or hurdle they’ve overcome,” says Con-roy, Vice President of Transaction Advisory Services at EY. She is also President of the Montreal chapter of the Turnaround Management As-sociation, a group for corporate turn-around experts that teamed up with BDC for this award.

No business is too big or too small to confront roadblocks. Bergeron cites the example of Groupon, the gi-ant deals website. The company got its start as a social media site called The Point, which was created to help people connect for social activism purposes. After a year of effort and US$1 million in operating costs, the start-up was going nowhere.

“The founders shifted gears and turned their offering into the dis-count coupon service Groupon. They learned, adapted and made a

fortune,” Bergeron says. Two years later, the shift in focus proved prof-itable: Groupon ballooned from a few dozen employees to 10,000 and was the fastest company in history to make US$1 billion in revenue.

Bergeron advises entrepreneurs to adopt a “try, try again” philosophy. At its core: learning from mistakes and showing resilience, a new busi-ness approach that is growing in pop-ularity in today’s rapidly changing economy, he says. Instead of the old model, which emphasized extensive planning before launching a new ven-ture—by which time technology and markets may change substantially—the new approach favours a lean and nimble start-up.

The idea is to engage customers early with a basic product, even if you haven’t worked out all the bugs. The second step: Learn quickly from customer feedback and missteps. Third: Constantly refine your efforts. And the final secret ingredient: Don’t give up.

“I don’t think fear is all bad. It can be healthy and reasonable. It keeps entrepreneurs from making rash de-cisions,” Conroy says. “But it’s im-portant to avoid excessive hesitation and waiting for the exact perfect mo-ment. Trying, failing and trying again is much better than not trying at all.”

Canadians Slow to Accept Failure

How do entrepreneurs turn failure into success? “They have had a knack for seeing failure as an opportunity or chal-lenge,” says BDC’s Michel Bergeron. “When solution ‘A’ didn’t work, they tried solution ‘B’ if they were still con-vinced there was a need. Or they de-cided to meet a different need and, in the process, found a new path. The setback helped them identify a weakness, and they fixed it.”

Deborah Conroy of EY agrees. She cites a 2013 EY survey that found the following:

Over one third of Canadian entre-preneurs (35%) said business failure is seen as a barrier to future business prospects. This is 9 percentage points higher than the average across the G-20 countries, which was 26%.

Canadian entrepreneurs may be more worried about failure because of “higher expectations,” but they should also keep in mind Canada’s “many entrepreneurial upsides,” such as the low cost of starting a business, the survey authors noted.


DATE TIME TITLE COST TOPIC

3 9:00-12:00 Introduction to QuickBooks $179.00* QuickBooks

6 12:10-1:00 Lunchtime Learning – Preparing Your Cashflow for Your Business Plan

FREE Business Start-up

8 10:00-11:00 How to Sell to the Alberta Government FREE Sales

20 9:00-12:00 Mission and Vision Planning $60.00 Mission & Vision

24 9:00-12:00 Beginner QuickBooks $179.00* QuickBooks

27 12:10-1:00 Lunchtime Learning – Preparing Your Start Up Budget for Your Business Plan


29 1:00-3:00 Money Skills Module #1 – Personal Budgeting $50** Money Skills

SMALL BUSINESS LEARNING SESSIONS

FALL 2014If you’re starting or expanding a business and looking for direction, you can’t afford to miss these great training sessions designed to save you time and money.

SMALL BUSINESS LEARNING SESSIONS

Our sessions focus on a three main topics: QuickBooks Training, Business Planning, and Money Skills. All sessions on this schedule will be held at Community Futures Central Alberta.

Our PresentersAll of our presenters are both professionals in their fields and knowledgeable about the topics.

RegistrationPre-registration is required for all sessions. This allows us to prepare materials in advance of the session.

Red Deer Location: Community Futures Central Alberta5013 – 49 Avenue, Red Deer, Alberta(403) 342-2055

For Registration:Call us at (403) 342-2055ORE-mail: [email protected]

FALL 2014 SCHEDULE AT A GLANCEOCTOBER 2014

DATE TIME TITLE COST TYPE

3 12:10-1:00 Lunchtime Learning – Preparing Your Marketing Plan and Market Research for Your Business Plan


5 1:00-4:00 How to Write a Business Plan $35.00 Business Start-up



12 1:00-3:00 Money Skills Module #2 – Living with Credit $50** Money Skills

13 9:30-11:00 Getting to Know Your Industry and Market FREE Market Research

14 9:00-12:00 Advanced QuickBooks $179.00* QuickBooks



24 12:10-1:00 Lunchtime Learning – Preparing Your Marketing Plan and Market Research for Your Business Plan


26 1:00-3:00 Money Skills Module #3 – Buying or Renting a Home $50** Money Skills

28 9:00-12:00 QuickBooks Payroll $179.00* QuickBooks

DATE TIME TITLE COST TYPE



5 9:00-12:00 Preparing for Year End Including T4’s $179.00 Year End



NOVEMBER 2014

DECEMBER 2014

*Bundle the Introduction to QuickBooks and Beginner QuickBooks courses for only $299.00, or bundle the Introduction to QuickBooks, Beginner

QuickBooks, Advanced QuickBooks and QuickBooks Payroll for $549.00.

**Money Skills modules are $50 each or $40 each if taking more than one module.

This schedule is subject to change without notice.


The benefits of BUSINESS PODCASTING

(ms) Businesses , part icularly small businesses, understand the importance of establishing an online presence. Identifying new content strategies c a n h e l p k e e p a c o m p a n y ’ s n a m e and business motto fresh in the minds of consumers. Search engine optimization, or SEO, and social media use can greatly improve a business’ online visibility.

P o d c a s t i n g i s another tool small b u s i n e s s e s h a v e at their disposal . P o d c a s t s , o f t e n referred to as on-demand audio content or audiocasts , are usually short audio or video clips. Typically they’re episodic and are released at key intervals. Podcasting e n a b l e s l i s t e n e r s to determine when a n d w h e r e t h e y would like to receive c o n t e n t . P o d c a s t s can be informative, entertaining or a combination of both. All that’s needed to tune in is a mobile device or Internet access.

Although podcasting was once a way to present on-demand radio and other audio programming, businesses have redesigned podcasting to use them for training and marketing and as another avenue to disseminate marketing materials to the public and a target market. As opposed to visiting a website or reading newsletters and emails, podcasts are often described as more customer-friendly and accessible.

There are several ways businesses can benefit from podcasting, including:

· Businesses can distribute valuable content to increase customer loyalty.

· Podcasts enable you to be an industry and

news trend provider, which can set you apart from the competition.

· Audio and video are very engaging media and can keep customers engaged for longer periods of time.

· Podcasts increase marketing reach and online visibility and can strengthen SEO.

· Syndication and repeat scheduling gives listeners a reason to keep coming back for more content.

· Podcasts can be promoted through social media channels to make online marketing efforts even more cohesive.

· Downloads of podcasts and transcripts can be offered directly from your company›s website to drive even more traffic to the location.

· It’s possible to measure the success of

digital audio because it can be tracked by the number of downloads and the number of social interactions with the content.

· Podcasts work with the consumer›s schedule. If they are unable to listen to a podcast immediately, they can download content and enjoy it on their own time.

· Podcasts reach anyone around the world with an Internet connection, dramatically increasing your potential customer base.

· Content that is creative and fun shows an entirely new side of your business.

Consistent podcasts can be a great way to share information about your business and improve your online presence. A 20- or 30-minute podcast may be better received than a barrage of marketing emails or a monthly newsletter.


BUSINESS EDUCATION & TRAINING AT

T (403) 342-2055 5013 49th Avenue, Red Deer www.central.albertacf.com

Call or visit us on the web for descriptions & dates.

We Offer Entrepreneur Training in:* Quickbooks - Beginner to Advanced

* Basic Bookkeeping

* Mission & Vision Planning for Small Business

NEW! * Money Skills Training Personal Budgeting

* Understanding Personal Credit and More

Our New State of the Art Training Facility Offers * SMART board technology

* Newest software and computers

* Wireless Hi speed internet & Webcasts

* Facility available for rent

*Call for rates and availability

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LEARNING SESSION DETAILED INFORMATIONBUSINESS PLAN SESSIONS

Lunchtime Learning – Preparing Your Cash Flow for Your Business PlanLearn how to create a cash flow statement for your business plan. The staff at Community Futures Central Alberta will work with you to make sense of why you need a cash flow in your business plan and why it is important to understand it for your business.

Presenter: Community Futures Central Alberta StaffOffered on September 15th, October 6th, November 10th and December 1st 12:10pm - 1:00pmCost: FREE (pre-registration is required)

Lunchtime Learning – Preparing Your Start up Budget for Your Business PlanLearn how to create a budget for your business plan. The staff at Community Futures Central Al-berta will explain the steps to figure out how much money you will need to open your business and keep your business operating.

Presenter: Community Futures Central Alberta StaffSeptember 22nd, October 27th, November 17th and December 8th 12:10pm - 1:00pmCost: FREE (pre-registration is required)

Lunchtime Learning – Preparing Your Marketing Plan and Market Research for Your Business Plan Learn how to create a marketing plan and how to gather market research. The staff at Commu-nity Futures Central Alberta will explain what is needed for a marketing plan and why you should do market research before going into business.

Presenter: Community Futures Central Alberta StaffSeptember 29th, November 3rd and November 24th12:10pm - 1:00pm Cost: FREE (pre-registration is required)

How to Write a Business Plan –In Class SessionA comprehensive guide which shows you how to complete your business plan. Take the unknowns out of your business idea and mold it into a calcu-lated risk. Learn about cash-flow projections and marketing plans. This session will be delivered by our business analyst in a classroom setting. In or-der to run this session a minimum of 3 participants must be registered.

Presenter: Karli Eckart – Business Analyst at Com-munity Futures Central AlbertaOffered on: November 5th 1:00pm-4:00pmCost: $35.00 (pre-registration is required)


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Saluting contributions small businesses are making Saluting contributions small businesses are making to our local economy and our community.to our local economy and our community.

Mary Anne Jablonski, MLARed Deer North

#200, 4814 Ross StreetRed Deer, Alberta

T4N 1X4Ph: 403.342.2263Fax: 403.340.3185

M A J bl ki MLA Cal Dallas, MLARed Deer South

#503, 4901 - 48 StreetRed Deer, Alberta

T4N 6M4Ph: 403.340.3565Fax: 403.346.9260

QUICKBOOKS TRAINING SESSIONSAll of our courses use QuickBooks 2012, which is installed on our computers. If you choose to bring your own laptop, please have the 2013 Pro version of QuickBooks loaded. If you are using our computers, please bring a flash drive so you can take a copy of your work home with you.You will be provided with handouts of the information you are learning at each class.In order to attend any of the QuickBooks classes, you must have basic knowledge of bookkeeping. For example, you must know what the following functions are:

Chart of AccountsAccounts ReceivableAccounts PayableHow to prepare a bank reconciliationThe difference between a debit and a credit

Pre-registration is required for all QuickBooks courses and full payment

must be received no later than 4:30 p.m. the Tuesday prior to class. In order to run QuickBooks sessions, a minimum of 4 participants must be registered.

Understanding Basic BookkeepingJoin our certified Bookkeeper and QuickBooks trainer, Debbie Romkes, as she takes you through the basics of simple bookkeeping practices. Learn what a debit and credit is, explanations of the various areas in your financial statements, learn how to reconcile your bank and the importance of it, and basic transaction entering whether you are doing your books in an accounting program, or on a spreadsheet.

Presenter: Debbie Romkes, Aggregate Financial Solutions Offered on: September 26th 9:00 a.m. – 12:00 p.m. Cost: $179.00 (Pre-registration is required)

continued on page 16


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BUSINESS LINK WEBCASTSHow to Sell to the Alberta Government

The Alberta Government is looking for YOU – and your goods and ser-vices. With over 2000 purchasers, they buy everything from agricultural goods to professional services and everything in between. These oppor-tunities are being posted daily. This session helps you to understand the Alberta Government’s buying practic-es - who buys what, how they buy, and where to find these opportunities. In this webinar, you will learn about: Government of Alberta procurement practices Registering your business on the Al-berta Purchasing Connection Searching for opportunities Tips on how to bid for opportunities

Presenters: Chelle Busch & Marcy Soehn, Procurement Services, Service Alberta, Government of AlbertaOffered on: September 18th and Octo-ber 8th 1:30pm - 2:30pm Cost: FREE (pre-registration is required)

Getting to Know Your Industry and

MarketThis session will provide an overview

on the wide range of data products

Statistics Canada offers business own-

ers. Gain a basic understanding of

selected standard geographic and in-

dustry classifications. Learn how to

conduct basic market and industry re-

search on Statistics Canada’s website,

specifically:

Demographic and socio-economic

characteristics of local population

Household spending patterns

Population projections

Size and sales of an industry

Number of businesses with an indus-

try

Trends of selected industries

Presenter: Pamela Borland, Statistics CanadaOffered on: November 13th 9:30am - 11:00am Cost: FREE (pre-registration is required)

Introduction to QuickBooks Learn how to get organized and started in the software. Specifics about what you will be learning are:1. Learn how to set your QuickBooks file up properlyInitial file set up and activationSetting up your Chart of AccountsSetting your Preferences for the companySetting up your customers and vendors2. Learn how to maneuver in QuickBooks3. Backing up and restoring your file

Presenter: Debbie Romkes, Aggregate Financial Solutions Offered on: October 3rd 9:00 a.m. – 12:00 p.m. Cost: $179.00 per class or bundle with Beginner QuickBooks for $299.00, or bundle all 4 QuickBooks classes for $549.00(Pre-registration is required)

Beginner QuickBooks TrainingThis course will begin after your file is set up and you want to begin processing your bookkeeping documentation. You will be taken through the accounting cycle covering sales, payables/payments, banking and GST. Basic accounting topics will be discusses as well. The following is a detailed outline:1. Sales Transactions: sales receipts, create invoices, credit memos, receive payments from customers, apply discounts and credits, and create statements2. Accounts Payable: enter bills, pay bills, printing cheques, enter credit card charges, pay the credit card, enter bills you paid personally and reimburse yourself3. Bank and other reconciliations: how to prepare reconciliations4. File a Sales Tax Return5. QuickBooks reports: how to find the basic reports you might want to view

Presenter: Debbie Romkes, Aggregate Financial Solutions Offered on: October 24th 9:00 a.m. – 12:00 p.m. Cost: $179.00 per class or bundle with Introduction to QuickBooks for $299.00, or bundle all 4 QuickBooks classes for $549.00(Pre-registration is required)

Advanced QuickBooks TrainingIndividuals wishing to take this course need to have a background in using QuickBooks (taking the first two classes will help but there should be an element of practical experience). Join our certified QuickBooks trainer, Debbie Romkes, as she goes through some more advanced options in QuickBooks. Below is a detailed outline of some of the things you will learn in this course:Managing your “items”Setting up classes and using the job costing Using the Purchase ordersAn Introduction to using the inventory in QuickBooksReporting

Presenter: Debbie Romkes, Aggregate Financial Solutions Offered on: November 14th 9:00 a.m. – 12:00 p.m. Cost: $179.00 per class or bundle all 4 QuickBooks classes for $549.00(Pre-registration is required)

Payroll QuickBooks TrainingThis course costs $179.00.Learn how to set up the basic payroll file in your QuickBooks. You will learn how to do payroll item setup, employee set up, basic payroll processing, how to pay your CRA remittances and how to prepare ROE’s.A subscription to QuickBooks Payroll is required to perform this function on your personal computer. This is available with Pro versions of QuickBooks.

Presenter: Debbie Romkes, Aggregate Financial Solutions Offered on: November 28th 9:00 a.m. – 12:00 p.m. Cost: $179.00 per class or bundle all 4 QuickBooks classes for $549.00(Pre-registration is required)

Preparing for Year End Including T4’sThis will show you what your accountant wants to see when you bring your year end in and what you need to prepare your T4s.

Presenter: Debbie Romkes, Aggregate Financial Solutions Offered on: December 5th 9:00 a.m. – 12:00 p.m. Cost: $179.00 (Pre-registration is required)

QUICKBOOKS TRAINING SESSIONS CONTINUED...continued from page 15


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MONEY SKILLS TRAININGModule #1: Personal BudgetingThis module will provide the skills and tools to successfully create and meet your financial goals on a weekly, monthly and yearly basis. You will be introduced to ways to save money on monthly expenses and what to do with those excess funds. Some basic information on different types of ac-counts including checking, savings accounts and investment options will be discussed.

Presenter: Community Futures Central Alberta StaffOffered on: October 29th 1:00pm-3:00pmCost: $50 or $40 per session if taking two or more Money Skills modules(pre-registration is required)

Module #2: Living with CreditThis module will discuss different types of credit and the advantages and disadvantages of each. Spe-cific information will be provided on credit cards as well as managing your personal credit and how your credit report is used by money lenders.

Presenter: Community Futures Central Alberta StaffOffered on: November 12th1:00pm-3:00pmCost: $50 or $40 per session if taking two or more Money Skills modules(pre-registration is required)

Module #3: Buying or Renting a Home

This module will review the buying process and under-standing mortgage terminol-ogy. Specific information will be provided on mortgages and how they work and the cost of home ownership.

Presenter: Community Futures Central Alberta Staff Offered on: November 26th 1:00pm-3:00pmCost: $50 or $40 per session if taking two or more Money Skills modules(pre-registration is required)

MISSION AND VISION PLANNING

Mission and Vision PlanningCreate the foundational struc-ture of your organizations long term strategy by creating Mission Vision statements that will con-nect employees and customers with your busi-nesses ideal future state. This workshop will in-clude understanding what a Mission and Vision statement is, learning how they guide your deci-sions within your business, and learning how to use

them.

Presenter: Kurt Spady, Avason Consulting Offered on: October 20th 9:00am-12:00pmCost: $60.00 (Pre-registration is required)


HOW AN ADVISORY BOARD CAN BOOST YOUR BUSINESSFROM THE BUSINESS DEVELOPMENT

BANK OF CANADA

Looking for an easy and inex-

pensive way to energize your busi-

ness, boost sales and plan for the

future? Here’s an often-overlooked

idea: create an advisory board.

Only a meagre 6% of Canadian

entrepreneurs have an advisory

board for their business, according

to a survey this year by the Busi-

ness Development Bank of Canada

(BDC). However, 86% of entrepre-

neurs who have an advisory board

say it’s had a significant impact on

their business.

“Once people understand the

benefits, they become big fans,”

says Pierre Cléroux, BDC’s Vice

President of Research and Chief

Economist. “There are really prac-

tical, tangible benefits for the bot-

tom line.” BDC’s research bears

that out. The study shows that an-

nual sales at businesses with an

advisory board were 24% higher

than those at companies without

one, and productivity was 18%

higher.

An advisory board is an infor-

mal body of outside experts that

an entrepreneur can use as a

sounding board or to fill in gaps in

expertise and contacts. Unlike a

board of directors, advisory boards

have no legal responsibility for the

company’s governance, but experts

say they still bring a lot of value.

Jean-Yves Sarazin knows the

benefits first hand. He created an

advisory board back in 1990 at his

company Groupe Delom, which of-

fers maintenance and manufactur-

ing rotating equipment such as mo-

tors, pumps and ventilators. At his

advisory board’s very first meeting,

Sarazin was referred to a financial

institution that allowed his compa-

ny to save tens of thousands of dol-

lars through lower interest charges

on a loan.

“Every entrepreneur should

have an advisory board. Each time

I’ve seen a company create one,

the first meeting produces a re-

turn that is enough to cover the

compensation for the whole year,”

he says. Sarazin has become such

a big supporter of the idea that he

has agreed to sit on several other

companies’ advisory boards as a

way of giving back for the help he’s

received over the years.

Another benefit: an advisory

board obliges entrepreneurs to pe-

riodically step back and look at the

overall direction of their business.

“Just getting ready for my meeting

with the advisory board forces me

to take stock of the business and

consider it from new angles,” Sara-

zin says.

Having an advisory board also

reassures financial institutions,

which examine the quality of the

company’s team when assessing a

loan application, he says. “It shows

you’re not alone in making deci-

sions.”

So why don’t more businesses

have an advisory board? Some en-

trepreneurs think it may be too

time-consuming to create one or

are simply unaware of the ben-

efits, Cléroux explains. But the

payoffs, he says, are usually well

worth the effort and cost (some

companies offer advisors a nomi-

nal honorarium, while others don’t

compensate them).

“An advisory board is a good

tool to force the business owner

to think more about the company’s

vision, long-term goals and how to

achieve them,” Cléroux says. “The

benefits are way bigger than the

cost to the business.”

The study shows that annual sales at businesses with an advisory board were 24% higher than those at companies without one, and productivity was 18% higher.


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Petro-Canada’s On-Site Refuelling service delivers diesel fuel direct to your vehicles, generators, construction equipment or marine vessels whenever it’s convenient for you.

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Our system tracks and records the amount of fuel for each vehicle or piece of equipment via on-board computer, so record-keeping is simple and easy. Our program also provides fully itemized statements and 24-hour online access to your account. Our equipment operating data and easy-to-read reports help you make vital management decisions that impact your bottom line. Reports are available to you to help you keep on track and on budget.

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5 TIPS TO MANAGE YOUR CASH FLOW


Cash is king—it’s a common saying in the business world. But surprisingly few entrepreneurs take steps to man-age their cash flow so they don’t wind up with an empty bank account and nothing to pay the bills.

“One of the main causes of business failure is poor cash flow management,” says Susan Rohac, Senior Vice Presi-dent, Financing and Consulting, at the Business Development Bank of Can-ada (BDC). The good news: cash flow management is easy to improve with a few simple steps. “Getting control over your cash flow helps you prepare for slow periods, plan your financing and have peace of mind,” Rohac says.

Follow these five steps to get a bet-ter handle on your cash flow.

Profitability check. First, make sure your business is earning a reasonable profit. Even the greatest cash flow management won’t help if your funda-mentals are out of whack.

Analyze each product and service separately to see whether it’s pulling its weight. Make sure your products are appropriately priced, and work to eliminate inefficiencies. Instead of just chasing sales, chase profitable sales.

In 2007, Mike Whittaker’s company Bonté Foods learned the consequenc-es of poor cash flow the hard way after facing large cost overruns on two ma-jor projects.

The company had to act quickly to restore its cash position. It analyzed its profitability and realized it had to raise prices to better reflect costs. Bonté also unloaded lower-margin product lines and launched an effi-ciency drive while tightening cash flow management.

The changes had a huge impact. Sales in Bonté’s meat division are up 36% since 2009, while gross profit is up almost 6%. “We learned to watch our cash very carefully,” Whittaker says. “You need to always be ahead of the curve on cash flow management.”

Do a cash flow projection. Next, prepare a cash flow projection for the coming year. This is your early warn-ing system for cash flow hiccups. Use an Excel spreadsheet or accounting software to plug in expected monthly cash inflows and outflows, including anticipated big-ticket purchases.

Use the projection to anticipate slow periods and plan in advance what to do about them. “Through the year, check your actual cash position regu-larly—once a week or month—against

your projection to see how you’re do-ing and deal promptly with any diver-gences,” advises Rohac.

Finance big buys instead of drain-ing cash. One of the most common cash flow mistakes is using cash to buy a major long-term asset, instead of get-ting financing. Even if you feel flush right now, you may suddenly wind up short of cash if you experience a sud-den revenue shortfall or rapid growth.

Use your cash flow projection to plan your financing needs ahead of time, not in the midst of a crisis, when bankers may be wary to lend. Rohac also recommends matching the lifes-pan of a purchase with financing of similar duration.

Speed up cash inflows. Getting mon-ey into your business more quickly can save you carrying costs on your line of credit. Some tips: send out invoices more quickly, ask customers to pay electronically and charge interest to slow-payers.

Raise cash quickly in a crunch. Fac-ing an unexpected cash flow crunch? You can raise cash quickly using vari-ous techniques: approach your bank for help; check your inventory and as-sets to see what you can sell off, even at a discount; ask suppliers or your landlord for extra time to pay bills; or offer your customers a big discount to earn some quick sales.

Many Businesses Ignore Cash Flow Management: SurveyBDC’s Susan Rohac points out

that managing finances is one of

the main challenges for entrepre-

neurs, coming in second after mar-

keting and sales. The findings of a

BDC survey this year confirm her

observation:

More than four out of five en-

trepreneurs (82%) say they’re the

ones managing cash flow and fi-

nancing in the company.

However, many of the entre-

preneurs don’t take basic steps to

control their finances. Almost half

say they don’t make cash flow pro-

jections and check them against

actual results—a basic procedure

of financial management.


S4B: STRENGTHENING CENTRAL ALBERTA

BUSINESSES Mighty Owls Daycare takes home inaugural Start-Up Entrepreneur Award at Success 4 Business Expo

By Renée Francoeur

Last week marked the second

annual Success 4 Business Expo,

an event unique to Central Alberta

that provides an abundance of re-

sources and fosters growth for lo-

cal businesses.

With over 40 exhibitors — rang-

ing from Red Deer College to War-

ren Sinclair Lawyers to Southpaw

Communications Inc. — the expo

went above and beyond what it

achieved in its debut year.

“I’ve worked really hard on try-

ing to give small businesses the

resources, learning opportunities

and connections that are so valu-

able to any business. That’s what

it’s all about,” Brenda Kolasa,

event manager and owner of Suc-

cess 4 Business, said.

The Expo, which saw over 170

entrepreneurs this year, was well

up from 85 last year and boasted

a number of new features — in-

cluding the Start-Up Entrepreneur

Award.

Mighty Owls Daycare in Sylvan

Lake scooped up the award, run-

ning against two other finalists:

Openhwy Marketing and Practical-

ly Organized Ltd., a custom closet

design and installation company.

“Basically [the prerequisite for

the award] is to be creative and in-

novative in their industry,” Kolasa

said. “We thought that they had a

really different take on daycare.”

Mighty Owls runs out of an “ul-

tra modern” building, designed for

optimal learning, stated the com-

pany in their submission package.

Unlike other daycares with one

or two large rooms, Mighty Owls

assigns its children to one of four

age appropriate rooms or “hubs”

which functions independently

from the rest of the daycare, reduc-

ing noise, distractions and strain

on children and staff.

The cash award, $1,500 from

Community Futures, will now be

an annual part of the expo, said

Kolasa.

It also includes six months of

coaching sessions by Futurpre-

neur and $500 worth of design ser-

vices by Visual Resolve Graphics.

Ruth Kelly, president and CEO

of Venture Publishing Inc., was the

Expo’s first-ever keynote speaker

this year, another exciting addi-

tion, said Kolasa.

More seminars were also of-

fered, such as one on the tempo-

rary foreign workers program, em-

ployment standards, brand man-

agement, tax 101 for small busi-

nesses and more.

A few of these were recorded

and will later be available on the

website.

The Private mentoring corner

was also popular, offering those

with full day passes 1 on 1 sessions

with the mentor of their choice if

requested.

For those wondering how suc-

cessful companies developed

strong sea legs, the Expo also of-

fered the new Panel of Leaders Fo-

rum. Established business people

such as Jeremy Jablonski from The

Coverall Shop and Andrea Fox

and Diana Knapton of Babycakes

Cupcakery were invited to sit on

the panel and answer questions

in a Q & A fashion regarding how

they managed to build up their

businesses and become successful.

Kolasa, also the owner of Visu-

al Resolve Graphics in Red Deer,

started Success 4 Business a cou-

ple years ago.

She said many of her clients

were start-up businesses and look-

ing for more direction.

“Sometimes I didn’t now

where to direct them so I thought

wouldn’t it be beneficial to have

something under one roof.”

The S4B Consortium, which is

the online resource area for Suc-

cess 4 Business, (www.Success-

4Business.ca) offers local entre-

preneurs the opportunity to book

speakers, take online courses, link

to different solutions, download

business development tools, view

the calendar of business events,

as well as be active on the newly

launched Barter Board for busi-

ness.

Kolasa has had interest ex-

pressed in expanding Success 4

Business to the northern and

southern parts of the province but

said for now her focus remains on

Central Alberta.

For more information, visit

www.success4business.ca.

Brenda Kolasa runs the Success 4 Business expo and online consortium as well as her own business, Visual Resolve Graphics.


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SEEING REDSell your business idea and win $20,000

BY RENÉE FRANCOEUR

What new inventions does the world need? What light bulb has lit up recently in your head?

Calling all students of any age cur-rently enrolled in a post-secondary institution or within one year of hav-ing graduated, if you have an idea with a technology, science or knowledge-based focus, head to Central Alberta’s own Dragon’s Den.

The RED Challenge is looking for budding entrepreneurs to pitch their business proposals and will award the contest winner $20,000 as well as of-fice space at Red Deer College for one year and mentoring.

“We call it a gentler Dragon’s Den,” said Alicia Cafferata-Arnett, a proj-ect co-ordinator at Red Deer College. “We’re not here for the media or for destroying people. We’re here to build capacity and provide constructive feedback.”

The RED Challenge, which first ran in 2010, is about nurturing innovative entrepreneurs in Central Alberta.

“We are excited to have Olds Col-lege and Toby Williams the Project Manager of the Canadian Institute of Rural Entrepreneurship as a partner. We’re pooling all our resources to-gether this year,” said Cafferata-Ar-nett, also crediting their main spon-sor, Alberta Innovates Technology Fu-tures.

This year will also mark the first time the RED Challenge has handed out prize money for second and third place. The second place winner will take home $10,000 and $5,000 goes to

third.The process is fairly simple, ex-

plained Toby Williams, with Olds Col-lege.

Everyone who submits an idea is entered into the contest and heads off to “boot camp,” which is run by Community Futures. Here, competi-tors learn all the ins and outs of busi-ness planning. At the end of this train-ing they can decide whether or not to submit the business plan they learned to create and from those submissions, four to six are selected to present to a panel of judges.

“This year we’re also going to try to add in more coaching help, pitch coaching specifically for those that will be presenting,” said Williams.

Submissions will be accepted start-ing in November. Winners are expect-ed to be announced in March.

“It’s a really great contest. When do you get the chance to win $20,000 as a small business? So we really en-courage people to apply,” said Caf-ferata-Arnett. “The feedback from people has been that the training has really helped them set up for future success.”

New businesses may also apply, as long as they’ve only been in business for less than 24 months.

Organizers would like to recognize support from the City of Red Deer and Central Alberta Community Futures, as well as AITF.

For more information, call Red Deer College at 403-343-4076 or stay tuned for updates to the website red-challenge.ca

Janet Spafford, Ann Garret and Sharon Poole won $20,000 in 2013 for their business Career Catalysts.


Take a stroll down Mall Street: Market returns for third year

BY RENÉE FRANCOEUR

Juicy preserves. Beautifully hand-bound books. Soaps with rose petals, goats’ milk and cedar. Christmas crafts you can’t find in a big-box store. This and more is what the third annual Mall Street Market at Parkland Mall has in store.

From Oct. 16 to 19, take the en-trance by Safeway and peruse the kiosks of local artists, craftspeople and business men and women. Ev-erything on display is from Cen-tral Alberta — that’s this market’s golden rule.

“It’s a great opportunity for home-based businesses,” Melody McKnight, Parkland’s marketing director, said. “A lot of them have only one employee so there’s no way they could work from 9 a.m. to 9 p.m. everyday in a mall store. This way they can still access all the mall traffic though.”

The market has a new setup this year and is more contained than previous years, said McKnight, not-ing the kiosks will be placed in a V-shaped pattern in two corridors of the mall.

Fifteen businesses have signed

up to participate, slightly higher than last year’s numbers.

“Quite a few have returned from last year . . . There’s these beauti-ful birdhouses, clothing, bath and body products and jewelry,” said McKnight.

Hosted in partnership with the Red Deer Chamber of Commerce, Mall Street Market will award one contestant with the title Mall Street Mogul and the grand prize (a one year membership with the chamber, a month of free weekend kiosk rental and coaching from Community Futures).

Last year, Danielle Butt of Scratch Cakes and Sweets in Syl-van Lake was the champion after a panel of judges toured the market and public votes were totaled.

“Any public sale will promote your business and encourage other small business owners to partici-pate to spread word of mouth ad-vertising,” said Butt of the experi-ence. She’s noticed her business has expanded in the Red Deer ar-ea and was ecstatic to win the Mo-gul title the past two years.

For more information on Mall Street Market, call Parkland Mall at 403-343-8997 or visit www.park-landmall.ca.


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More Than MoneyHow Non-Financial Benefits Can Be a Game-Changer for Your Business


What is the cost of losing a good employee? Entre-

preneurs know it can be high.

At Frima Studio, a fast-growing video game maker,

the challenge of attracting and keeping talent got

harder five years ago, when a pair of deep-pocketed

multinational competitors opened offices nearby.

“We couldn’t compete on salary, so we decided to

create an attractive workplace�one that was fun and

inspiring,” says Nathalie McLaughlin, Frima’s Hu-

man Resources Director.

Twice a year, Frima emulates the “Dragons’ Den”

TV show and invites its employees to pitch innova-

tive projects to a panel of judges. “If we judge a proj-

ect to be solid enough and to have sufficient market-

ing potential, we will release its creators from a few

of their usual tasks so that they can devote one day

a week to the development of their amazing idea. A

few months later, we review the state of the project

and decide if it’s worth pursuing, in which case we

greenlight its production and marketing. This pro-

gram is already starting to yield impressive results,”

explains McLaughlin.

The array of benefits designed to make Frima’s

employees’ lives easier includes flexible work hours,

as well as a week of paid vacation time between the 25th of December and the New Year . The company offers employees gaming areas and an on-site gym. Twice a month, two massage therapists and a hair stylist also drop by.

Frima isn’t alone in turning to creative ways to provide employees with non-monetary rewards.

“Companies in all industries—not just high-tech—increasingly see non-financial compensation as vital to their growth,” says Nathalie Gélinas, Senior Vice President, Consulting, at the Business Development Bank of Canada (BDC). In today’s challenging econ-omy, it’s harder than ever for many entrepreneurs to find the resources to draw in and retain skilled employees, she adds. At the same time, boomers are quitting the labour market, leading to labour short-ages in many fields. This means businesses are in-creasingly competing for good workers, but they have less money to do it with.

The good news: non-financial benefits can be in-expensive and can even boost a company’s productiv-ity, Gélinas says. “The cost is a lot smaller than what the employer gets back. Losing an employee is very costly. Human capital is the most important resource a business has,” she says. “The ultimate challenge is to mobilize employees. Salary alone will never mo-

bilize or retain talent over the long-term. Businesses should be creative about finding ways to attract and engage talent.”

At Frima, the employee-friendly workplace be-came a beacon for smart, enthusiastic workers who helped propel the company’s explosive growth. “The key to our success is our work culture,” McLaughlin says. “We listen to employees a lot. People always talk about the customer experience. We have de-veloped the employee experience. It means people don’t want to leave.”

Frima also has a performance reward system that awards points that employees can exchange for ser-vices, thus reinforcing the company’s commitment to helping employees maintain work-family balance. Perks include tax preparation, lawn mowing, baby-sitting, movie/dinner combos and more. “Our office is completely different from anything else in the area. It’s really made a difference in attracting people,” McLaughlin says.

Frima’s success shows that while pay is important, it isn’t what makes employees happy at work, Géli-nas says. Employees want flexibility, trust and the chance to develop as part of a team, she adds. “We spend a lot of time listening to customers to serve them better. We also need to listen to employees.”


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24 FRIDAY Forward Friday, Oct. 17, 2014

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