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2008 8th Annual Bridges to Better Business

Well, maybe not exactly, but the hobby does provide a good metaphor for CEOs. Both require design, planting, weeding and fertilizing, Bowmanville Foundry owner Deborah Patrick said.  “Make sure your garden is nice all year,” Ms. Patrick said as she spoke to a crowd of local business people at the Bridges to Better Business conference held in Bowmanville on Oct. 29. The conference was presented by the Business Advisory Centre Durham (BACD) and Clarington Board of Trade. 

A lot of times in the garden you end up replanting to get the most out of colourful plants. Don’t be afraid to replant in the business world as well and move employees around to find the positions that suit them best.  Grow, but brow with caution. Ask yourself whether you should grow the customers you have or grow your customer base, Ms. Patrick said.  Weed out customers. Ms. Patrick said she knows that might sound like a crazy idea but having too many customers can be a problem. It’s important to analyze time spent on each customer.  “You need to look at what you’re spending your time on,” she said. “You may need to fire your customers.”  Trim and prune your activities. Look at the things you do every day that keep you busy but don’t allow you to get anything done and cut those activities out. The purpose of pruning shrubs is to cut them back so they can grow and flourish later. Similarly in business, owners should keep procedures lean and relevant, Ms. Patrick said.  Remember to fertilize. Put time and resources into employees. Provide ongoing training and ensure the key people in your business aren’t getting burnt out by working too much overtime, Ms. Patrick said “If they have to be in there all the time you need to get them help.”  And make sure the garden is cared for year round. Good gardens start blooming right after the last frost and last until the snow falls. Good businesses mitigate slow seasons by knowing the cycles of the industry they are in. Businesses should be profitable no matter what sales volume they are at. Smart business owners read financial news regularly to be aware of trends and possible upcoming market slumps, Ms. Patrick said.  “Because none of us exist as an island.”

The speech followed BACD’s theme for 2008: nurture, grow and succeed, said executive director Carol Ann Walker.  With the economic slowdown happening, now is the time for business owners to take a step back and be more strategic with their company plans, instead of pressing the panic button, Ms. Walker said.  “Existing businesses can definitely benefit from a business tuneup,” she said.  To do such a tuneup Ms. Walker suggests accessing services available at the BACD, including consultations with experts. To learn more about the BACD call 905-438-4008 or visit www.bacd.ca.

http://newsdurhamregion.com/business/article/112247

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