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5 Business Links, Tuesday, October 18, 2011 START Is Your Business Going to Close and Die? I started working for the Chamber in 1998 and during that time I've become pretty good at guessing which new Chamber members are going to "grow and thrive" and who will "close and die." The one thing that the thriving members do that the dying ones don't? They communicate whenever the opportunity presents itself. It starts when they join the Chamber. I send new members an email welcoming them to the Chamber, letting them know what to expect over the coming months and asking them to review and confirm their information on our website. The vast majority of new businesses don't even reply with a thank you. A lost opportunity to communicate! Most of our new members join to network with other local business owners and gain exposure for their business. We send requests asking them to supply info for our newsletter and inviting them to attend Business After Hours to promote their business. Yet most of those businesses can't even take a moment to say a "no thanks". We even call and leave messages and still no reply. Another lost opportunity... Our Chamber publicly recognizes at least 15 local businesses a year through our various awards. In most cases these businesses were nominated by their customers or members of the general public. We have at most one or two businesses a year ask why they are receiving the award From the President's Desk Sue Walker 49 Commerce Cres., Acton, Ontario L7J 2X2 519-853-3540 visit our website: www.galvcast.net and who nominated them so they can...wait for this...THANK THEM! Those that ask have great communication skills! Now with more businesses jumping on the social networking bandwagon, I see the "close and die" businesses repeating their mistakes on Facebook and Twitter. They don't use Twitter to communicate with customers; rather they just spew information about their business and don't take the time to communicate with their followers by re-tweeting or replying. The worst offenders use programs that automatically post messages on their behalf. They become uninteresting very quickly. If you want your business to grow, take the time to talk to people. Not just about your business, but their business. Reply to emails and phone calls. Find opportunities to say thank you. Volunteer in your community. Taking the time to do these three things will go a long way to ensure that your business is among the thriving. At Yorkshire Enterprises: Pick-Up & Delivery Available. Call to arrange a meeting. Your return is completed by tax professionals with more than 40 years of combined experience. You get our assurance of accuracy and maximum tax savings. Your return can be done while you wait. EFILE services are available. 11597 TRAFALGAR ROAD GEORGETOWN, ONTARIO L7G 4S4 PHONE (905) 877-1420 FAX (905) 873-0919 Joanne, Christine, Marion & Sarah www.leferink.com BERT LEFERINK President Yorkshire Enterprises Inc. Located at: Knolcrest Centre 360 Guelph St., Unit 47 Georgetown, ON L7G 4B5 Call: 905-873-2697 Email: info@yorkshirent.com www.yorkshirent.com Get your retirement plan back on track. Serving Halton Hills Since 1968 IIcan help with my portfolio repair service. can help. Are you wondering where your investments stand? Graeme Goebelle, FCA (retired) A. Brian MacAdam, CA, CFP Melanie McCracken, CA Tracey Bastedo, CA L. Jennifer C. Nixon, CGA, CA Melanie Appleyard, CA 35 Main Street South Georgetown, Ontario L7G 3G2 David Alexander, CA Shawn Kelman, CGA Maria Vicente, CMA Sean Ashbee, CA Anne Starret, CA Tel: (905) 877-5155 Fax: (905) 877-5905 Toll Free: (866) 554-2030 Marketing: Sell your `pro's ­ Don't `con' By Peter and Tizi www.studiofourteen.ca Perhaps it's time for a second opinion. Call today for a complimentary, no obligation review of your portfolio. conomic times are tough and most sectors are suffering a crunch. Desperate times sometimes call for desperate measures as businesses scramble to increase market share and profitability. When battling against competitors, some cave to temptation and stretch the truth to get the sale. Remember that while this may seem a viable short term solution, it can wind up having negative consequences and damage your company's reputation. Be creative not deceitful It is always legitimate to communicate the features and benefits of your company/ product that add value to potential clients, and even to take a shorthand approach that may improve the perception potential clients have of your company. (and we all know, it's all about perception) As an example: you regularly import items or parts from offshore destinations, you have established good business connections and reliable trade practices with these foreign resources; your E sources are varied and located in different markets throughout the world; therefore you can honestly say you do business globally (i.e., ABC Company, Global connections, Local service) even though you may not have branches located in these other locations. This can give the impression that your company is larger than it really is ­ but because you are in fact, able to supply this service and deliver on it reliably, all is well. If instead you made this claim simply hoping for a new customer, without being sure that you can deliver on your claim ­ well, it can ruin your reputation. Word of mouth is still a powerful way of spreading information ­ for both good and bad. Know the truth, and know where to draw the line. A good marketing/design firm will help identify your company's key selling features and maximize the presence/perception your company has in the marketplace thereby increasing your bottom line. Scott Becksted Wealth Advisor ScotiaMcLeod 905-796-5024 905-873-6640 1-800-263-2454 ® Registered trademark of The Bank of Nova Scotia, used by ScotiaMcLeod under license. ScotiaMcLeod is a division of Scotia Capital Inc. Scotia Capital Inc. is a member of the Canadian Investor Protection Fund. www.gmallp.com CHARTERED ACCOUNTANTS - MANAGEMENT CONSULTANTS Corporate / Personal Tax Returns Financial Statements Bookkeeping / Payroll Services Audits / Reviews Tax Planning Profit Coaching Now Accepting New Clients 905-873-8837 416-360-OTAX www.btpc.ca New Clients Welcome 905-873-8837 348 Guelph St., Unit #4, Georgetown L7G 4B5