Okanagan Business Examiner May 2010

The Magic ForkliFTWill Revolutionize The Safety Industry

INSIDE:

Bc’s only organic granary

Vantageone credit Union - Now a realtor?

Pain of the lost railway

MAY 2010

Being Power Smart makeS BuSineSS SenSe

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101-1979 Old Okanagan Highway, Westbank, BC V4T 3A4T: 778.755.5727F: 778.755.5728

FOLLOW US ON

FOLLOW US ON

COVER

insidE

End of the Line - 10Last year the only railway serving the North Okanagan shut down. There are repercussions.

Kelowna.com No More - 12An insider view of why the Okanagan’s most ambitious news service launch in years was doomed.

Rights yes, but Responsibility too - 15Human Resource expert Shelley Gilmore says workers that are all take and no give can’t expect to go very far

The Newest Realty in Town - 22

For Sale: your beautiful home and by the way, would you like a

chequeing account with that?

PublisherCraig [email protected]

Managing editorDevon [email protected]

adVertising salessales ManagerRob [email protected]

sales representativesMurray [email protected]

design / ProductionCorrina [email protected]

executiVe assistant Joanne [email protected]

contributing PhotograPher Shawn [email protected]

subscriPtion rates12 issues annually | One year: $27.00778-755-5727

distribution The Okanagan Business Examiner is published monthly at Kelowna, BC by Prosper Media Group Inc. Copies are distributed to businesses from Osoyoos to Greater Vernon. The views expressed in the Okanagan Business Examiner are those of the respective contributors and not necessarily those of the publisher or staff.

PUBLICATIONS MAIL AGREEMENT NO. 41835528 RETURN UNDELIVERABLE CANADIAN ADDRESSES TO: 105-1979 OLD OKANAGAN HIGHWAY, WESTBANK, BC, CANADA V4T 3A4

4 Okanagan Business Examiner / May 2010

The magic forkliftThis might look like any forklift, but this one “knows” when the driver is in or out, whether the driver is qualified to operate the unit and can stop automatically if someone steps in front. This is the future for mobile equipment safety. Page 6

insidE

Okanagan Business Examiner / May 2010 5

Cover Story - 6

railway no more - 10

kelowna.Com - 12

Shelley gilmore - 15

armStrong - 16

fieldStone granary - 17

the ipe - 18

editor’S take - 21

vantageone realty - 22

moverS & ShakerS - 24

dominik dlouhy - 26

debbie hiCkS - 27

Calendar of eventS - 28

women’S enterpriSe Centre - 30

contr

ibutor

sdominik dlouhy

wonders about our all

too human tendencies

to jump in to investing

at the wrong time. He

and his family moved to

the Vernon area about

10 years ago, after living

and working in Zambia,

Indonesia and New

Zealand. He started his

career in financial services

as a mining analyst for a

major Toronto brokerage

firm, and now works as a

financial planner with the

Fraser Financial Group.

His interests include

skiing, hiking, canoeing

and photography. He

coaches the biathlon at

Sovereign Lake, and will

be going to the Olympics

as a biathlon official.

Shelley gilmore is a

Kelowna-based business

consultant. Gilmore HR

works with businesses

to link the people side

of business and the

people strategy to the

business plan. She can

be contacted at 250-864-

1153 or view her services

online at www.gilmorehr.

com.

bobbi-Sue menard

talked to a lot of people

this month about the

future of the companies

that depended on a short

line rail track. The future

is sadly, uncertain. She

started freelance writing

as a small town movie,

arts and entertainment

critic and reporter. Despite

remaining a sucker for

an entertaining story

complete with musical

score (and heartfelt high

school musicals), writing

the story of people

passionate about their

work has proven to be

a much more enduring

fascination.

debbie hicks is the

president of the Southern

Interior Construction

Association (SICA). The

website for SICA is www.

sica.bc.ca. To contact the

local branch of SICA send

an e-mail to kelowna@

sica.bc.ca or call 250-491-

7330 or toll free 1-800-

661-7322.

adrian nieoczym moved

to Kelowna in 2007 to

work as a reporter at the

Capital News newspaper.

Two years later he

jumped to Kelowna.com,

an upstart local news

website that crashed

and burned after only 10

months. Here is his take

on why the dot-com’s

business model failed.


story by deVon brooks

When he was presenting his prototype in Dallas, Rick Shervey, cofounder of Pro-active Safety Systems Technology Inc. (PSST), gave his spiel to representatives from 22 industrial companies whose relation to each other was that they were all covered by the same insurance company.

Statistics show a fatality costs range from $2 to $5 million for the insurance company, which is reflected in a company’s premiums.

Shervey and his partner John DaSilva, who are both industrial electricians, got the idea for PSST back in 2006 after hearing about a second worker killed in a loader accident inside of a month close to where they were working.

They set about building a warning unit that would alert people when they were in the path of a moving piece of equipment. Says Shervey, “We’d seen the need because there was no equipment [like it] out there and we’d seen people killed and injured.”

The numbers are significant. The Workers Compensation Board, in a report published in 1999, recorded 1,482 work related deaths over a 10 year period. Of that number approximately 35% or 519 were caused in industrial vehicle accidents. The WCB calculated that for every fatality there were 29 injuries.

Shervey’s company uses RFID (radio frequency identification) technology to provide a two-point ranging system (a moving gauge of distance), which is accurate from 70 cm to 400 m. Shervey says the zero to five meter range is the critical zone for preventing accidents and it is the short range detection that has frustrated previous attempts at making a mobile range finder.

Their idea is that every piece of equipment has a detector on it and every worker has a vest with a RFID tag in it. As equipment moves around it senses every worker passing in to the sensing area, and reacts by sending signals to the unit.

The system can be tailored to suit almost any set of parameters. The test unit at the PSST workshop is set up on a forklift. An antenna broadcasts at a 30º angle to the front and back of the machine. If a worker moves into that zone the machine activates a two-stage warning light system and the brake.

Shervey says they searched through 7,600 patents to make sure they weren’t duplicating work done by others.

Kevin Fisk is the senior engineer at PSST and he says this is something that major equipment manufacturers have been after for years.

Asked how major corporations with multimillion dollar research budgets have been unable to do what PSST has, Fisk says most companies have been trying to do it using triangulation based on GPS technology. Fisk suggests, “If you go down a road long enough, you can’t get off it.”

PSST now has four patents pending.

The Magic Forklift

Revolution


The insurance company and its 22 clients were wild about the possibilities.

They weren’t the only ones. PSST has gathered nearly $1 million in grants, research loans and investment money over four years, including $350,000 in federal government Industrial Research Assistance Program (IRAP) grants.

WorkSafe BC gave them another $246,000 in innovation grants. Shervey says it is very rare that WorkSafe BC gives a grant for product development, which proves their interest in this product; although Shervey quickly points out WorkSafe supports the development of this kind of product, not PSST itself.

Still, he confides the women at WorkSafe refer to the test unit as the “magic forklift”.

The U.S. companies are under no such compunction about endorsement and are keen for a pilot project. The first pilot was done at Alcan’s pot smelter production lines in Kitimat, but now PSST wants a more robust test.

The next test will occur at a shipyard in Tacoma, the closest of the 22 American firms they presented to. Down to observe the operations, Shervey says they saw a perfect example of why these units are needed. With a carefully balanced load, an operator backed his forklift up 30 m, never once looking behind him. The operator’s attention was focused on the load, trusting that workers would hear his beeper and keep out of his way.

As Fisk points out, “A worker has to be cognizant of the operating equipment – [unfortunately] people can tune out six beepers.”

The engineer believes it is the RFID tag in the worker’s vest that makes the PSST system unique. Says Fisk, “When it’s your own safety device I think that’ll be different.”

The test unit actually activates the brakes on the forklift if someone comes to close to the machine, but Shervey says pilot projects won’t incorporate that aspect because it takes away control from the machine’s operator.

Still, he says if equipment

manufacturers were to allow them access to the electronic control chips built into modern vehicles they could set up the system to activate the brake or reduce engine RPM (thereby reducing moving speed).

While the forklift is the source of the greatest number of industrial vehicle accidents, many other industrial vehicles cause serious injuries and deaths each year.

Notes Shervey, “We started out to make this work on every [kind] of equipment.”

There are several other benefits besides injury reduction. Shervey says he talked to a forestry company who pay about $25,000 in repairs each time a forklift hits the warehouse doors, which tends to occur twice a year. With a sending unit on the door, or posts next to narrow entrances (another place for frequent collisions) Shervey believes collisions like this could be substantially reduced.

Similarly, accidents where forklifts or loaders go over the edges of loading platforms could be reduced.

The final benefit was pointed out by the insurance company representative. The PSST system includes a processor, so if the operator of a vehicle exits the vehicle that is recorded. It can be set to prevent the vehicle from moving.

The insurance company says a frequent problem is that unqualified (and therefore uninsured) operators will sometimes get in the vehicles to move them. The PSST RFID tags and processors can be set to record the information, including qualifications and permissions. If an unqualified operator gets in the processor will recognize that and could be set to prevent the unit from moving.

The possibilities for the PSST units are revolutionary. The profound safety implications (with huge financial savings) suggests this system could be found around the globe within a few years.

For PSST it is one step at a time. At a rough guess, Shervey believes the units could be set up for as little as $3,000 per vehicle and $250 per worker. With a likely

cost of $2 million for a single fatality, there will be no companies that couldn’t afford to adopt the technology when it gets on the market.

When might that be?

Shervey says, “We need approval

from Industry Canada and the FCC [in the United States], but we’re hoping to start production within a year.”

Fisk believes it is possible the first production units could be ready by January 2011.

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End of the Line

Education from the Inside Out...

Kelowna Waldorf School

429 Collett Road, Kelowna, BC V1W 1K6 250-764-4130www.KelownaWaldorfSchool.com

Pain

ting

by J

ayes

Taz

er D

errik

san,

Age

6

Register Now

Rail service in the north Okanagan closed down last summer. This year others will buy the short line or it will be dismantled.

Every railway car load has a story, whether it is the jobs at the lumber mill that planed outgoing 2x4s destined for the U.S. or formed steel coming in for local infrastructure. The stories came to an end on August 31, 2009, when rail service to commodity based companies in the northern tip of the valley was halted. The impact has ranged from moderate to severe.

Okanagan Valley Railway, a short line service provider that contracted to CP Rail, terminated its lease when the Owens-Illinois glass plant in Lavington closed. The glass plant closure was the straw that broke the financial back of the short line, and OVR pulled out of the lease agreement early.

The closure launched a three phase discontinuance process mandated under

federal legislation. The phases move from ‘expression of interest’ from businesses and groups interested in running the short line track.

Confidential negotiations on EOI are nearing the end. There have been extensions due to exploring various expressions of interest, and the CP spokesperson emphasizes the company is bound to negotiate “in good faith.”

One of the companies directly impacted by the OVR shutdown is Sure Crop Feeds in Grindrod. From where Sure Crop General Manger Dave Pringle sits, dealing with the rail closure has been a frustrating “uphill battle.”

Until late last summer, Sure Crop depended on rail for 85%-90% of all its transportation needs. One rail car is a minimum of two truck loads. The math

by bobbi-sue Menard


becomes almost geometric, trucking feed from various regions in Alberta and Saskatchewan invoices higher than rail rates. It’s not just the transportation costs – Sure Crop then spends on more labour to handle the feed, and it needed new infrastructure at the plant and new storage. Ultimately, says Pringle, trucking grain in from the Prairies is unsustainable because of costs.

To try to mitigate costs, Sure Crop has worked with a North Okanagan company closer to the main line near Armstrong to use private siding. That is dozens of extra trucks per week trundling up highway 97 all winter. Summer traffic is not something Pringle is looking forward to as they are at maximum capacity for their night time trucking operations. The company has already invested in a new loading dock to make help the process more efficient.

“We really do feel like we are between a rock and a hard place,” says Pringle. “We quite honestly expect higher costs in the future, even more than we already have.”

This is the first spring rush without rail service for Okanagan Fertilizer down in Enderby. Company President Ken Clancy has had to make the switch to trucking. Like Sure Crop, Okanagan Fertilizer has seen cost increases, especially because of the extra labour.

“Fertilizers are a commodity and are part of a very price sensitive marketplace,” says Clancy. The transportation cost difference has been minimal, but organizing the tighter inventory has been more difficult. “The advantage in rail for us was the ability to store product on rail cars during our busy season,” explains Clancy.

“Rail is our preferred method of shipping, but my feeling is that we have to move past that and make trucks work and become a ‘just in time’ organization.”

Some of Okanagan Fertilizer’s product comes in by rail from New Mexico. That product could come as close as a transload station at Armstrong, on trains operated by the CN contractor Kelowna Pacific Rail. It is a solution that makes sense for Clancy. For Pringle and Sure Crop it was among the least worst of the remaining options.

A year ago the transload station was touted as an option, which Pringle saw as less appealing than continuous service, but workable. Then Pringle received word CP would no longer keep the Armstrong transload station operational. CP’s spokespeople assert the transload station “requires a lot of work.”

That news was one more piece of frustration for Pringle.

Before the August 2009 shut down, Pringle worked with the federal agency which administers the Canada Transportation Act to mediate concerns about CP closing the line.

The voluntary mediation meeting was arranged for summer of 2009, but CP canceled their attendance.

The next step was phase one of discontinuance when CP Rail began accepting expressions of interest from companies interested in operating the rail line. After spending tens of thousands on consultants, Pringle says Sure Crop made the decision to go ahead with their own EOI.

CP’s spokesperson says the company, “Would definitely like to see a deal made, but we must be able to justify it to our shareholders.”

By the end of June it is expected timeline an announcement will be made about whether CP

accepts an EOI, or if it moves on to phase two, offering the rail to all levels of government to run. It is a concept that has had some success in Eastern Canada, but is all but unheard of in the West.

Should that option fail to happen, CP Rail will be able to apply to the federal agency that administers that Canada Transportation Act to decommission and dismantle the line.

Under the provisions of the Act, CP will decide the ultimate fate of the line, says Marc Comeau, spokesperson for the federal agency. “Ultimately it is their line and they can abandon it if they want to.”


After 10 months, millions of dollars in losses and a bundle of crushed dreams later, an audacious experiment in online journalism is coming to a close. Last Friday, the five remaining editorial staff at Kelowna.com got their one week layoff notices and while a skeleton crew may keep the site going after this week, it will be quite different from the product launched last June.

Even though it has been obvious for some time that this day was coming and I was already on the outside looking in, I was sad to hear about its demise.

It was a bold venture at a time when the vast majority of media companies were taking a timid approach and it held out the hope that it might actually be possible to do good journalism and make money doing it. Its failure makes that dream seem just a little farther away.

However, for all its shortcomings, I still think Kelowna.com was a valiant –though ultimately misguided– effort and lessons from its rise and fall can help contribute to the development of a much needed new business model for delivering online news.

So with apologies to former colleagues who might see this quickie post mortem as rubbing salt into still fresh wounds, I offer a few, somewhat jaded, insights from my time at Kelowna.com.

in the beginningThe first half of 2009 was a bleak time in the North American news business. A flood of bankruptcies, downsizing and job losses inundated the industry as the recession and an inability to make money from the web pushed many traditional media outlets out of business and others onto life support.

Kelowna was no different. Local businesses reacted to the recession by cutting back on advertising and the local television station (CHBC), daily newspaper (Daily Courier) and tri-weekly community newspaper (Capital News)

reacted to the loss of revenue by cutting staff and diluting their content.

At the time I was a reporter at the Capital News and while I survived the initial cuts in late March, it was made clear that my seniority put me next in line should the axe be wielded again.

Then suddenly, out of the gloomy fog, stepped an apparent saviour.

Word quickly spread. A couple of businessmen flush with cash made from the buying and selling of Internet domain names, were launching a brand new news website. They hired a local freelance journalist, Marshall Jones, as their managing editor and let him go out and hire seven reporters.

It seemed too good to be true. I applied to Kelowna.com and was offered 10% more than I’d been making at the Cap News. I made the jump and suddenly I was part of one of the largest and most creative newsrooms in town. All the reporters were equipped with MacBook Pros, iPhones and Nikon D5000 SLR cameras capable of shooting high-definition video, giving us the ultimate in mobile reporting technology.

And then as if that wasn’t enough, a couple months after we launched, ownership leased us a fleet of Smart Cars.

And while we had a lot of growing pains on the editorial side, my (admittedly biased) opinion is that we largely delivered great content and raised the standards for news in this town. We routinely broke stories and provided some of the best, most comprehensive coverage of what was happening in the community.

Our competitors certainly noticed what we were doing and I think what they saw compelled them to up their games as well and produce better work in their effort to beat us.

But unfortunately, despite what we produced, we never attracted the hoped for readership while the company burned through its cash at far faster a rate than was expected. I’m not sure exactly

how much money was sunk into Kelowna.com, but I know it was at least a couple of million dollars and in the end the owners couldn’t sustain the losses. Clichéd but true: Those who don’t learn from history are doomed to repeat it

The dot-com bubble of the late 1990s was fueled by the premise that if you have a cool domain name and use it to give away great content for free, then eventually the hits and the revenue will somehow start pouring in. But by 2000, the obvious flaw with this thinking could no longer be ignored and the bubble burst, costing investors and workers billions of dollars. The lesson from this time is that the real genius isn’t so much in coming up with great online content, but in figuring out how to monetize it.

Unfortunately, it appears as if the thinking behind Kelowna.com’s effort to be an online news trailblazer was a little old school.

Kelowna.com sought to take advantage of two rising online trends, the use of geo domain (related to the area where the audience is) names and hyperlocal news.

The idea was that by having the greatest web address, hiring so many reporters and equipping us with the latest and greatest technology, we would take Kelowna by storm and quickly become its leading news outfit and draw tons of online viewers whose eyeballs could be sold to local advertisers.

But Kelowna is a very crowded media market. B.C.’s third largest city (about 105,000 people, 150,000 if you include neighbouring communities), it boasts two newspapers, a television station and an all-news radio station. On top of all this, even before Kelowna.com launched, Kelowna was already one of the few B.C. communities with a well entrenched online local news service called Castanet.net.

This was a key mistake in the Kelowna.com venture. The brain trust figured that because people frequently criticized the quality of

Lessons from a geo-hyperlocal.com meltdownIn June 2009, a small Okanagan-based Internet company, Ogopogo Media, launched a new website called Kelowna.com. Armed with a great domain name, it set out to become a dominant player in Kelowna’s crowded media market by offering the most comprehensive local news coverage in the region. To do this, it hired 10 reporters and editors, including Adrian Nieoczym, who left his job at the Kelowna Capital

News to join the online upstart. But the website struggled to attract readers and revenue and in February Nieoczym was laid off as part of the company’s cost cutting measures. Last month Ogopogo pulled the plug and Kelowna.com’s five remaining editorial staff were let go. A few days before it shut down, Nieoczym posted this piece on his blog, nieoview.com, with his reflections on what went wrong.

by adrian nieoczyM


Castanet’s news coverage, it would be easy to convince them to switch to something different. But Castanet took nine years to build its business and has thrived by keeping its newsroom small and slowly adding staff as revenue picked up (it currently has four reporters). It also has the advantage of being the go to place for local online classifieds and discussion forums.

It turns out that getting people to change their online habits, not to mention their home pages, is actually quite difficult and takes a lot more than just offering them something “better” than what they’re already used to.

not everyone thinks the news is as important as journalistsThe expected hits never materialized. There was a steady growth in the number of visitors to Kelowna.com throughout the summer, but in the fall they seemed to flat line at around 4,000 hits a day, which is way below what we needed. What’s worse is that only a fraction of our hits were local and local hits were what we were trying to sell to advertisers.

Occasionally, there would be big spikes in traffic when a big news story broke, like a forest fire, a high profile arrest or a political scandal. So the question became, how do we get those readers to read us on a daily basis?

For Jones, the answer lay in trying to drum up more of the big news stories that people felt they absolutely had to read, stories that “lead the day” as he liked to put it. But I came to see the spikes as an indication that most people in Kelowna weren’t interested in keeping up with the news every day, only when something extraordinary was going on.

Now of course this also means it’s our job as reporters to try and dig for those great stories, but the truth of the matter is that you cannot just dial up tragedy or scandal whenever you want.

In between those extraordinary times, news is only going to attract news junkies, a finite market that in Kelowna at least, has a lot of options.

the best product doesn’t always winBack in the early 1980s, makers of Beta and VHS machines were battling it out for supremacy in the burgeoning VCR market. Despite being the superior product, Beta lost out to VHS, giving marketers a lesson in how being the best doesn’t guarantee success.

My view now is that we didn’t end up doing anything particularly new at Kelowna.com. At first, our goal was to give readers everything they could get in a daily newspaper online, but with a lot better content. As we developed video, we set out to make television news redundant as well.

At the time, those goals seemed to make sense, but in retrospect we should have asked ourselves,

‘If newspapers and television are dying, why do we want to replicate the things they do?’

As I mentioned before, I think we created excellent content, but that didn’t lead Castanet users and viewers of traditional media to stampede away from their old familiar news sources. The assumption that Kelowna was hungry for a better news outlet has turned out to be false.

And that harsh lesson has turned me into a fan of market research.

If I were to develop a new website from scratch now, I would identify my target market (for the web that’s primarily 18- to 40-year-olds) and then do a scientifically valid survey of that market to see what they’re missing in their online experience.

Placing a multimillion dollar bet based on your assumptions of what people want, strikes me now as a dangerous thing to do.

My guess is that if we asked people in Kelowna what they want online, they would say things like information on entertainment, fashion and music, more often than they would say news. But again, that’s just a guess.

rethinking what we doFor those people who do actually want news, we as journalists have to get beyond simply delivering the same kind of content that appears in newspapers and on television.

We need to figure out how to use things like social media to not just draw readers to our sites but to bring them into our (virtual) newsrooms and give them a say in what stories are covered and how.

Who knows, readers who are unwilling to pay for content just might be willing to pay to be part of an online community that directs how news is covered in their community.

things take timeFinally, what Kelowna.com really needed more than anything else, was more time.

The other day, I was in the Service Canada office dealing with my EI claim. While I was being taken care of by one of the workers at the front desk I glanced over at the worker sitting next to her and who at that moment did not have a client. I watched as she opened Internet Explorer, went to Kelowna.com and quickly scrolled through the stories.

It’s just one anecdotal example, but it gels with other experiences in my day to day life when I mention Kelowna.com to people and instead of my having to explain what it is, they respond by saying something like, “Oh yeah, I check them out now and then.”

I think it’s taken this long just for Kelowna.com’s presence to really register with people. My guess is that if it had another year or two, it would see its hits increase slowly over time. However, it would likely be years –if ever– before it could generate enough revenue to sustain the expense levels it had when it launched.

Rather than starting small and building for success over the long term, Kelowna.com went for the big score, piling on the expenses at the beginning hoping to shock and awe its way into becoming an overnight success.

And in hindsight, that might have been its most fatal flaw.

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The adage of “it takes two to tango” is very relevant in today’s workplace. As with dancing, the workplace only works when the partners are in sync and stepping to the same theme.

The burden seems to have been firmly placed on the shoulders of the employer in recent years to keep the tango alive. There seems to be an expectation that the employer not only provide the music, but the music player, the dance floor, the building, the lessons and the shoes.

Many employees seem to think the responsibility for the relationship rests with their bosses. There would appear to be a significant lack of self-accountability in workplaces as it pertains to the employees themselves. They want pay raises. They want promotions. They want a proverbial pat on the back constantly. They want someone else to come up with the plan all the while acting as if they are entitled to something.

George Orwell (author of science fiction and social commentary 1984) may have said it best, “Each generation imagines itself to be more intelligent than the one that went before it, and wiser than the one that comes after it.”

I’d like to challenge those that think they deserve these acknowledgements to look at themselves closely. Why do you want or need these? Are you falling into the game of allowing yourself to be labeled as Generation Y, Millennium, which is supposed to explain away your potential flaws?

What about your responsibilities? Are you attempting to learn? Are you acting on constructive criticisms and growth suggestions?

If not, stop asking for recognition for simply showing up. In order for the dance to continue, you need to look at what you are doing on your side of the relationship. Stop whining and start doing. Look at the top achievers you see in your

life and in your career and consider what you are you doing to meet them at their level. Decide where you want to go and do something about it – stop waiting for others to lay out the map.

Many employers are continually working to create a better workplace, but you have to meet them in the middle.

We all have choices. If the work/life balance is a major priority in your life, that is a choice. Your employer can work to help you achieve that, but you can’t possibly expect your employer to change their entire business to accommodate your choice. You can’t expect to stay on the same track as the high performers in your organization that want a different work practice. You must work together, with clear and reasonable expectations on both sides. If you are not getting to where you want to be, examine the choices you have made and look at reevaluating a few.

If you have chosen to be a “time clock puncher” or made other potentially career-limiting choices stop making your employer the bad guy. Find a way to work together and have realistic expectations. Stop placing full accountability on your employer for your personal choices.

If you don’t want to take that next professional development course, don’t! But don’t expect to get that raise or see that next promotion.

Let the dance continue, but let’s look at taking some lessons in accountability so that we stop stepping on each others toes and make our dance shoes last longer.

Shelley Gilmore is a Kelowna-based business consultant. Gilmore HR works with businesses to link the people side of business and the people strategy to the business plan. She can be contacted at (250) 864-1153 or view her services online at www.gilmorehr.com.

Dance shoes and expectations on accountability by shelley gilMore


To succeed every company needs to set itself apart from its competitors in the minds of its customers. Sometimes it’s easy because they are the only business to offer a certain product or service. More often they must find something they do exceptionally well, like offering the lowest price or the best service.

Strangely enough every town aspires to set itself apart, to develop some character that makes it unique. The City of Armstrong, named for London banker and railway backer, one E.C. Heaton Armstrong, is a lovely working village at the north end of the latest highway 97 four-laning project.

Its 4,500 residents enjoy a lifestyle best described as agricultural with industrial benefits.

Almost every community in southern B.C. says it wants agriculture to thrive. Armstrong seems to be one of the few towns

where that is happening, and that may well be its unique claim.

While only 2.4% of Armstrong people actually work on a farm (still a third more than the B.C. average) the community has built on its agricultural heritage in impressive ways.

There is of course the Interior Provincial Exhibition (see story this issue), the Rogers Foods flour and cereal mill, the iconic Village Cheese Co., Colonial Farms (an 80-person poultry processing facility) and Fieldstone Granary (see story this issue).

Among the agricultural pursuits, ranching, wheat and alfalfa are the biggest products.

Blessed with pastoral beauty and a lush climate, the town also has a small but unique tourism base. Perhaps its most famous tourist business is the Caravan Theatre. True to its rural roots the outdoor theatre is set on a farm and offers performances both winter and

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The Unique Agriculture of Armstrong

Photo by deVon brooks

originally the town’s cheese FaMe caMe FroM its naMesake, arMstrong cheese, until it was bought out and Production MoVed elsewhere.

recognizing the draw For PeoPle who caMe there to saMPle locally Made cheese the Village cheese co. sPrang uP to Meet that deMand and

build on the FaMe built uP by its industrial Predecessor.

summer, where the audience rolls on wheels or is towed in sleighs to different outdoor stages for the productions.

In town the historic nature of the town is encouraged and showed off to advantage by preserved buildings, the museum and the Olde Schoolhouse, built in 1892.


If you believe that some ancient agricultural products are among the healthiest, possibly because they’ve undergone less manipulation, then spelt, a kind of wheat, might be for you.

It is definitely good for Fieldstone Granary, located a few minutes north of Armstrong.

Margaret Johnston has worked at the granary since last year. Asked what her position is Johnston smiles wryly. “We have no titles here,” she says. “But when we went to the bank they insisted that I put a title down on the paper. I told [the owners] we had to have a title. We debated and finally I put down that I’m the general manager.”

The current owners are organic farmers Tony Vandantillaart and William Roell, who took it over in

2008, but before that, she says, “The granary started seven years ago as a coop.”

Johnston works there because it is organic and sustainable. “The premise for this business is that whole kernels are best for you. We’re about good food.”

Johnston describes a whole kernel of grain as a “small, perfect package of goodness.”

Certainly there is lots of evidence to support the benefits of eating whole grains. Commercial production of wheat products, which usually ends up in white flour, strips the grain of bran and germ along with the majority of fibre, minerals and vitamins. It does give a long shelf life to what’s left of the grain.

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Photo by deVon brooks

originally the town’s cheese FaMe caMe FroM its naMesake, arMstrong cheese, until it was bought out and Production MoVed elsewhere.

recognizing the draw For PeoPle who caMe there to saMPle locally Made cheese the Village cheese co. sPrang uP to Meet that deMand and

build on the FaMe built uP by its industrial Predecessor.

The Local TouchBritish Columbia’s only organic granary commits to good health, local farmers and agriculture in that order.by deVon brooks

Continued on page 18


A customer wanders in during our interview, who is new to Fieldstone but definitely not new to the concept of eating whole grains. The customer claims that once you grind or crack the whole kernel the goodness leaves the grain very quickly. In only a few hours she claims, 80% of the goodness is gone.

Johnston cracks her oats every morning for her breakfast, convinced of the value of eating the grain soon after cracking or grinding, but has no idea how quickly cracked grain loses its peak nutritional value.

What is true is that whole grains with the hull still on, kept away from light or moisture, can last for years and still sprout when planted.

The customer’s passion shows that the belief in better eating is strong and growing like, well, spring grain. Says Johnston, “People are on different parts of the pathway of the road to good health.”

The company is committed to more than the health of its customers or its own bottom line. Johnston explains, “We’re trying to sell locally to keep this sustainable.”

That means the grains they sell, spelt (70% of sales), buckwheat, oats, Hard Red Spring wheat,

common wheat, golden flax, speckled peas, green lentils, triticale kernels, barley kernels and Kamut are bought first from Okanagan farmers, then B.C. farmers, Alberta and finally

Saskatchewan farmers. If they can’t find the product by then, they don’t stock it until they can find it again.

She gives an example. “The hard spring wheat locally is already exhausted. Northern B.C. is nearly exhausted; then we’ll go to the Prairie provinces.”

Fieldstone this year is probably a preferred buyer. Johnston notes, “I’m getting offers from farmers in Alberta because there is a downward pressure on grain prices.”

The Canadian Grain Commission notes that wheat prices are down from 30 to 40% from a year ago, while barley has fallen 24%. Those prices are not for organic crops, but there is no doubt that it price declines are also hitting organic farmers in the pocket book.

Selling is also something they prefer to do locally, but Johnston says one of her jobs has been to improve sales.

Last year they had a booth at the Interior Provincial Exhibition. Prior to the show she says it was a big discussion whether they should invest in window bags (small bags with a clear window showing the whole kernel product).

Johnston convinced them of the benefits. She wanted them because people who don’t know about whole grains, or who want to try a new grain without a huge commitment could try it.

One customer says a 20 kg bag of wheat provides enough flour for her to make eight loaves a week for four months.

While the sales at the IPE were very encouraging it only runs five days a year. The granary sells product from three vendors in the north Okanagan and Shuswap, but most is sold to bakeries or other commercial outlets.

The granary sits on an old farm, and like the new found love of whole grains, Fieldstone is a blend of old buildings next to the most modern equipment. Slowly, as the business gains a solid financial footing, old buildings are being renovated.

It looks like a promising future for the local rebirth of an age-old business.

local touch Continued from 17

18 | www.businessexaminer.ca February 2010

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Okanagan Falls

takes a bOw in the

spOtlight

Okanagan Film Commissioner Jon Summerland assisted Cannery Studios in its move from West Kelowna to an advantageous facility in Okanagan Falls. Summerland told Castanet that the new property has better working space for film productions including 32,000 sq. ft. for staging film shoots, a separate 3,000 sq. ft. carpentry section, first aid and security rooms, a fenced lot and three acres for

parking. In addition it is attracting attention from a number of companies that support film work across the country. Several of them, including Harold’s Custom Equipment, HollyNorth and Offset Rentals are expected to open their doors in Okanagan Falls.

In an unrelated story the province is moving to boost video and digital effects work in the province by extending the tax credits given to films to digital media sectors. None of that work occurs in the Okanagan currently, but with the rise of the Canadian dollar to near parity film makers have

been urging the government to give the industry all the breaks it can to keep the work happening here.

pandOsy bia

mOves ahead

The South Pandosy Business Improvement Area in the Mission district of Kelowna is going before Kelowna city council to make their case. The new BIA has put together a proposed budget of $124,000 annually, based on a rate of $1 per thousand of assessed commercial value. Points of interest to members include parking, signage, more community events, better lake access and creating an identity for the business area.

less gets altitude

Adam Less, founder and former half owner of Think Marketing, has sold his share of the business and struck out on his own. His new company is Propeller Creative Brand Strategists, and uses the logo of “Altitude is Everything”. Less believes his strengths combine creative skills with experience in marketing. He says, “I'm a graphic artist and a writer, but I'm also a strategist with a career’s worth of experience developing brands and strategic platforms behind me.”

vernOn Chamber

talks tO vernOn

Chamber

The Greater Vernon Chamber of Commerce announced its newest program to better connect with its own members. The 12@12 membership feedback program involves nine Chamber members sitting down with two staff members and one board member “to discuss the issues that most affect their business today.” The meetings will occur monthly and will continue until June of this year, when their effectiveness will be reviewed. Each meeting will be based on one business

JOn summerland

a selection oF grains carried by Fieldstone granary Photo by deVon brooks

Fieldstone’s purchasing policy: “We purchase

from Okanagan farmers first, then B.C., then Alberta or

Saskatchewan, and if we can’t find the product

we do not stock the grain.”


Fair play by deVon brooks

If you were to guess that the biggest event in the economic calendar of Armstrong, you’d likely guess the Interior Provincial Exhibition and Stampede or IPE for short.

Only 4,500 souls live in Armstrong. Bryan Burns the IPE’s general manager says 146,391 people came to the fair last year. That’s more than 32 times the town’s population. If the same proportion of people were to visit a fair in Penticton, some 1.4 million people would descend on the city.

While only four people work on the IPE year round, 150 people earn money during the fair and 500 volunteers put in at least 10,000 hours over the year, whether they are doing preparation or helping to run it.

This small town has perfected some big city skills, like parking thousands of cars, albeit only for five days.

So you can understand why this year’s fair, the 111th consecutive running of the event, from September 1 to 5, is such a big deal. Last year there were 2,083 exhibitors in every kind of agricultural showing you can think of. Says Burns, “We have 22 divisions. I don’t think we are missing anything.”

There were also 210 vendors last year, a sell out as there has been every year for quite a while. The odd person drops out each year, but more than 10 are waiting for each one that decides to relinquish their space.

According to Burns there are 20 to 30 core sponsors each year, the five biggest include the likes of Dodge, Re/Max, the Armstrong Coop, Coors and CIBC. There are also dozens and dozens of smaller sponsors right down to individuals who might put up as little as $25 for a prize in a specific exhibition category.

The event is so large that every rentable accommodation in Armstrong is filled up and the fair ground campground is packed. Burns says Enderby is similarly occupied and hundreds of people go to Vernon for accommodation.

He says, “I think it’s a big boost for the entire Okanagan.”

Just how big a boost it is for the Armstrong economy is a bit of a mystery. When Burns became GM three years ago He asked around the town to get some estimates of its financial impacts. It turns out no one really knows.

“I’ve tried to find out, but no one has a formula. It’s hard to know.” What he does know is that $2 million was dropped on the fair ground last year and that more money made its way into the

town through food and accommodation sales.

Despite a turndown last year the fair is growing, and except for the P.N.E. it is the largest fair in the province. It is the biggest agricultural fair by far.

Peak attendance so far was in 2008 when 151,324 people came, but Burns says, “I look at it that if I’m over the 140 mark – I’m good.”

Physically there has been an addition. “The new arena has given us new space, but we’re really working on the right flow.” It is something that fair goers take for granted, but having a good fair is about more than bringing in some events and tents.

Each year the fair celebrates a theme, which emphasizes an agricultural pursuit. Last year it was ‘Let’s go hog wild!’ This year it’s ‘Let’s beef it up!’, but during the event itself certain events and times are more popular than others.

‘Mooternity’ always have people waiting to see

a calf being born; although he admits its tricky for the farmers to know for sure their cows will “perform”. Last year only one cow gave birth during the fair; the year before that there were four.

The mini-chuckwagon race is extremely popular and the talent show for youth aged 13 to 21 is coming back. There is a food show, vendors of all kinds, the midway, a Heritage Show and it is the final event in the competitive Wrangler Rodeo Tour. Says Burns, “There’s something for everybody.”

The fair runs from a Wednesday through to a Sunday each year. The Saturday is always the most popular, followed by the opening Wednesday and the Friday.

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incorporated: 1913

area: 5.24 sq. kmLocated in the North Okanagan Regional District

statisticsPopulation 4,533 (2009)Population growth rate for 2008-2009: 1.5% (B.C. 1.6%)

Population aged 65+ in 2006: 21.3% (B.C. 14.6%)

employment & labour ForceTotal labour force: 1,925 people

Labour force as % of total population: 42.5%

The three biggest employer sectors in 2006: manufacturing 355 (17.3%); retail trade 305 (14.9%); construction/health care & social assistance - both at 170 (8.3%)

income

Median household income (2006): $53,544 (B.C. $65,787)

Average income from those filing tax returns (2007): $36,262 (B.C. $40,802)

Main source of income for residents in 2007: Employment (59.6%), Pension (12.9%), Investment (14.0%), Self-employed (4.1%), Other (6.2%)

Unemployment Rate (2006) 7.6% (B.C. 6.0%)

Unemployment Rate for southern interior of B.C. (2009) 8.7%

business

Business incorporations: 14 (2009) 49 (2006)

Business bankruptcies: n/a

Chamber of Commerce

members: 200

building Permits

New residential units

built: 28 (2008) 29

(2006)

Typical house value:

$298,667 (2009)

$162,794 (2005)

Typical house taxation:

$2,234 (2009) $1,977

(2005)

Value of new residential

construction: $6.5 million

(2008) $6.1 million

(2006)

Value of other

construction: $1.2 million

(2008) $0.1 million

(2006)

Most numbers courtesy

of BC Stats Community

Facts (www.bcstats.gov.

bc.ca)

ARMsTROnG snAPsHOT

armstrong plateau (subdivisions) – residential

developer Dilworth Quality Homes – 250-762-9999 general Contractor Emil Anderson Construction (EAC) Inc – 250-762-9999 project New residential subdivision – mixture of SFDs and multi-family units Stage Planning – preliminary planning underway

wright St & haugen lane(seniors housing) –heaton place

owner Caretenders Inc – 250-861-3030

general Contractor JDL Construction Management – 250-860-8857

2440 york ave(commercial add/alter) – royal york golf Course

owner Armstrong Royal York Golf Course Resort – 250-546-9700

architect New Town Architectural Services – 250-860-8185

project Replacement of the 1 storey club house – addition of approx 215 mixed use residential units Stage Construction Start – of club house underway, completion anticipated August/10 – redesign of residential component underway, City Council review anticipated late May/10 project New assisted living complex – 4 storeys – 72 strata units – approx 80,000 sf – dining area – activities room – laundry services – 44 parking spaces

Stage Construction Start – anticipated late April/10

3285 pleasant valley rd(institutional new) – armstrong Spallumcheen outdoor pool building general Contractor Maddocks Construction – 250-546-9551 general Contractor Western Construction – 403-279-5676 project New 6 lane junior Olympic pool with a zero depth beach entrance leisure area – children’s pool – 103 foot water slide – renovations to existing change bldg Stage Construction Start – underway – construction completion anticipated May/10

Armstrong Projects on the Go

2360 hayden dr $200,000 residential new – SFD, applicant: Little Hill Homes – 250-546-3414Contractor: Kerry Exteriors – 250-260-3464

3700 patten dr demolition – concession & washroom Contractor: Armstrong-Spallumcheen Parks & Rec Commission – 250-546-9456

2473 hornby terrace $200,000 residential new – SFDContractor: NSJ Investments – 250-546-3345

3407 mckechnie dr $345,000 residential new – SFDContractor: Tacoma Properties – 250-546-6867

3919 rankine pl $210,000 residential new – SFD Contractor: NSJ Investments – 250-546-3345


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Would you rather make excuses or

sales?John Glennon

109B- 3677 Highway 97 NorthKelowna, BC, V1X 5C3

P: 250-765-2047 / F: 866-314-3410www.glennon.sandler.com




sales?John Glennon






sales?John Glennon



John Glennon109B-3677 Highway 97 North

Kelowna, BC V1X 5C3P: 250-765-2047 F: 866-314-3410

www.glennon.sandler.com



sales?John Glennon



107 - 3640 Gosset Road, Westbank, BC 250.707.1153 www.discoverycomputers.com

A s k t h e P r o f e s s i o n a l sMichael Dias Owner

A. There are many ways to back up your photos and other items. The three main ways of backing up is Either on a Flash Drive (or also called Thumb Drive, USB Drive/Stick) A Flash Drive is what replaced the old floppy. Although more durable and can hold more that a DVD

you can accidentally erase the contents inside so be careful. Another backup medium is the external Hard Drives. With prices of hard drive

come crashing down you can possibly get an external that is bigger than probably your hard drive in your computer for under 150 dollars or less.

Still like the Flash Drive, you can accidentally erase the contents for good. Last back up is the more permanent. Although you can’t hold as much in it you will not erase everything and that would be backing up onto DVD.

DVD’s should be your final backup choice as once it’s on the DVD you will pretty much be guaranteed not to be lost. Last word of advice. Make 2

copies of the same backup and put them in different locations.

Q. I have photos and other items to back up. What is the safest way of backing up.

ARMSTRONG BuiLDiNG PeRMiTS


Night sweats for the provincial LiberalsIt’s not often you see a majority government sweat, but every MLA in the province is thinking about the HST and the motion to repeal it.

Whether the tax will help or hinder the province’s businesses and its citizens is not clear, but if I had to guess I’d say it will probably be beneficial overall. Not for the Liberal party though.

From the day they announced it, they’ve bungled the implementation in a particularly magnificent manner.

I doubt anyone in the province believes the government wasn’t thinking of this tax change before the last election. It’s a mammoth project with huge financial and political ramifications. They did not decide to implement it one night over a beer in the pub.

The other clumsy attempts at manipulation since then haven’t been much better thought out. The claim that the HST will be solely for health care is so blatantly manipulative as to be sad. It will go into general revenue and we all know the government can, and will, do whatever they want with it.

They quickly abandoned their first claims that it would be revenue neutral. It won’t. It will most definitely transfer some costs from businesses to consumers and will generate extra revenue. That might be necessary to help the government with its current red ink, but it was a barefaced lie to say it would be neutral in the first place.

On the Liberal’s side it will simplify things for business, which will realize substantial savings. Based on the HST experience in Atlantic Canada the savings will probably be passed on to the public.

Unfortunately for the Liberals the

electorate doesn’t put much stock in the word ‘probably’. Is there any government in history that is trusted when it comes to the implementation of a new tax?

You can tell how much the governing party is sweating by the effort they are making to refute the ‘Say No’ campaign. Our local MLAs are using whatever public time they have to extoll the HST’s virtues. Finance Minister Hansen was in full political umbrage when Elections BC ruled against a government HST flyer (propaganda in the fullest sense of the word) paid for with tax dollars. I love the irony of that.

If the ‘no’ campaign reaches its targets and is allowed to introduce legislation asking for the HST to be repealed their problems grow.

The Liberals can try to find some way to shoot down the ‘no campaign’ and I’d give 50/50 odds they’ll try to do that before the campaign reaches its conclusion. Of course, it will look very bad no matter what technicality they use; it will be a transparent lie.

If they let the campaign finish and it is successful they will be in a terrible mess. The federal government has paid them $1.5 billion, which they’d have to pay back, but that’s the least of their problems. The wheels of government at both the provincial and federal levels are grinding and once those behemoths are in motion it is no easy matter to reverse course for all that bureaucracy. Not to mention expensive.

It could be done, but it would be a major blow. The kind that topples electoral dynasties.

A successful campaign only

requires legislation be introduced that would repeal the whole thing. With its majority the government can easily defeat the motion but, if they do, watch NDPers across the land rub their hands with glee in anticipation.

The government that turns down legislation with the approval of at least 10% (but likely a lot more – in Kelowna it is already at 15% nearly two months before the deadline) of the population in every riding will have a major credibility problem. Pretty hard to pretend they are respecting the democratic will.

Ironically the NDP, whenever they

return to power, would be happy if the HST is in place because they too will need the extra revenue and they’ll be happier still if the Liberals take the fall for it.

No matter how it turns out, watch for the Liberals to introduce legislation gutting the right for the electorate to organize this kind of campaign again. Once bitten, twice cautious.

Devon Brooks is the managing editor of the Okanagan Business Examiner. If you wish to comment on this editorial or any other story in this issue please send your thoughts to [email protected].

We’d like to introduce Bruce Murray asyour new Small Business Advisor.

With over 19 years of business bankingexperience, Bruce understands the pressuresof owning and operating a business and iscommitted to helping you by:•discussing your business banking needs•offering professional banking andinvestment solutions

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Drop by the branch to talk to your Small Business Advisor and discover how we can make your business banking easier. Welook forward to seeing you soon.

NEW TD CANADA TRUSTSMALL BUSINESS ADVISOR

1633 Ellis St., Unit 100Kelowna

(250) 763-4241, ext. [email protected]

by deVon brooks, editor


VAnTAGEOnE bAnks On nEw REAlTy sERViCE

VantageOne Credit Union, based in Vernon, has become the first credit union in the province to launch a realty division.

For Glenn Benischek, VantageOne’s CEO, the decision to expand into this business is driven by the company’s determination to set itself apart from the competition. He says, “No other credit unions in British Columbia are doing this.”

Banks are forbidden to offer real estate services in Canada, not so credit unions. VantageOne explored several models for going into the business, and settled on two fundamentals. One was that they weren’t interested in being the cheapest realtor service out there and that the buying agent provides a valuable service to his clients. The buying agent is the realtor that takes people around to see properties, while the selling agent represents the selling party.

Benischek says the buyer is the one who gives important advice to people who may not know what to look out for. It is a valuable, professional service that deserves good pay. He wonders if the newer extreme low cost realty

services being offered are sustainable for the industry or good for clients.

They settled on a model that will give the majority of the commission to the buying agent, leaving VantageOne with a much smaller fee. For the credit union it is another service they can offer to their members while providing substantial savings to the sellers.

In fact, Benischek says if things go well, they hope to offer their expertise to other credit unions at some point in the future for a licensing fee.

That possibility is still some time in the future once they’ve proven the model. It turns out they are not the first credit union in Canada to offer this kind of service though. Advantage Credit Union in Saskatchewan launched ACU Realty through its insurance division in 2008, which is coincidentally the time Benischek says they started thinking about it at VantageOne.

Still, it is new ground for credit unions.

Benischek is confident they will gather support

story and Photo by deVon brooks

Vantageone’s ceo glenn benischek is conFident

the new realty Venture will set his credit

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Toll Free 1.800.667.9266 • 1050 Leathead Road, Kelowna, BC Proud Member of the Summerland, Peachland, Kelowna, Lake Country and Vernon Chambers of Commerce


February 2010 Okanagan Business Examiner | 45

You’ve heard the saying, “you’ve got to spend money to make money”. While that may be true, when you’re a small business owner it is easier said than done. If money is going out of your chequeing account faster than it is coming in there are things you can do to deal with the challenge of the cash crunch.

Perhaps you can identify with Karen Murphy, owner of Express Gift Baskets in Kelowna. Over the past 10 years her company experienced tremendous growth. “I started Express Gift Baskets in 1997 with a $10,000 personal line of credit. I soon realized that because my business was inventory-based, I could quickly become under-financed as orders became larger. If I wanted to go after bigger accounts where I would require stock before payment of orders, I was going to have to make a decision to take on some long term debt.”

Trickling sales don’t tend to produce a lot of income. There is an inevitable lag between what it costs to generate business capacity and being in a position to reap its rewards. Difficulties arise in managing the costs that must be incurred in order to meet the demand of business growth, especially rapid growth.

Resultant cash flow crunches mean taking on debt. That was the case for Murphy who recalls her first expansion, “After a year, we took on about five times the original start-up money required. That was enough to carry substantially more inventory, allow for better equipment and also to hire an assistant.”

Acquiring business debt can be unimaginably frightening. It’s one thing to take out a loan for a car or a new piece of furniture where you can touch it, feel it, or put it in your living room. A business, on the other hand, is more intangible – and more risky. Then there’s always the chance that the business might fail. Do you really want to put your hard-earned assets on the line?

Women are often reluctant to take on business debt because we are uneasy taking a gamble on ourselves, particularly when there are others, like children or an elderly parent, who rely on us financially. Regardless of why you fear debt, to grow a business, you’re going to need cash. Under-financing often shows in inconsistent service, an inability to fill large and potentially lucrative orders and even poor morale.

Resist the temptation to pay those bills as soon as they come through the door. Hold on to them for the penalty-free period, and you’ve acquired for yourself an interest-free loan for usually up to 30 days.

On the other hand, when you are the supplier, the quicker you collect on your outstanding accounts the better. Small businesses typically can’t afford to finance their customers for very

long and if you’ve ever been in the position of having to chase down a delinquent client, you know it’s not fun.

Following through on collections can be an intimidating task. We worry about offending our customers and have them not like us. The next time this sounds like you, ask yourself whether you feel flush enough to extend an unlimited, interest-free loan to the customer who falls behind on payment. Here are a few simple strategies to help make sure you are paid on a timely basis:

1. Require that new customers submit a credit application and actually check their credit references or, alternatively, require new customers pay in cash;

2. Do not continue to sell to customers who repeatedly fail to pay on time. Remember, a sale is not complete until the money is in your hands;

3. Apply strict penalties on late payments, including surcharges and/or loss of credit privileges;

4. Contact – preferably call - customers immediately for payment of overdue accounts.

Growth in business and delinquent customers are not the only reasons cash flow comes under pressure. A new company often has money tied up in inventory and other assets like equipment and vehicles. It’s important to know the difference between what’s necessary and what’s ‘nice to have’.

To ensure you have enough cash is to prepare a cash flow statement. This statement forecasts and tracks money flowing into and out of the business as it changes hands. A cash flow statement reflects sales when they are confirmed, not when payment is received and costs when they are incurred, rather when payment is made.

The mistake many business owners make in forecasting is bundling inventory and production costs with related revenues in neat little monthly packages. Essentially, they assume the net of those two figures will fall into their hands every month in the way of cash. Not so.

Realistic cash flow projections can save you the heartache of fatal cash deficits. Plan ahead to cover shortfalls, and resist the temptation to spend every cent as it comes through the door. That makes for a healthy business and takes a lot of the stress out of financial management. With stress levels down, it also makes for a healthier you.

Women’s Enterprise Centre is the go-to place for BC women business owners for business loans, skills training, business advisory services, resources, publications and referrals. Call us at 1.800.643.7014 or email [email protected] from anywhere in B.C.

Cash Matters


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Okanagan COnTInUED FROM PagE 13

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however, far from homogenous in their approach or their development plans.

Penticton has only recently formed and started to build its economic base through the Penticton Indian Band Development Corporation, following in the footsteps of the Osoyoos Indian Band Development Corporation. Osoyoos is already well established with ownership or interest in 17 different companies including Spirit Ridge Vineyard Resort, Nk’Mip Winery, Canyon Desert Golf Course, a convenience store, a construction company, an RV park, a daycare, Mt. Baldy Ski Corp., Senkulmen Business park and Oliver Readi-mix.

What each band started with is enormously valuable land. The City of Penticton is squeezed between mountains and lakes leaving the only easily developed flat land on the Penticton Indian Reserve to the west. Osoyoos’ huge territory has been developed in places where highway access or proximity to the Town of Osoyoos makes the most economic sense.

The Westbank First Nations has taken a much more individualistic approach. The band’s land just north of West Kelowna has been the sight of intensive residential, business and commercial developments.

While the Band itself is prospering from an enormously increased tax base from no less than five large commercial developments and 8,000 non-band residents, the entrepreneurial spirit is embodied in a few key individuals who have gathered the land packages. In addition to leasing land, individuals like Noll Derriksan have built up several enormously successful businesses on his own.

N.C. Derriksan & Son Enterprises runs a development company, owns JSDS General Contractors, a heavy equipment leasing company, CA Promotions, Skyline Billboards, an executive travel service and a First Nation jewelry company. Derriksan is prominent, but not alone in his successes.

iNDiaN BaNDs & CompaNies

Okanagan Nation Alliance - www.syilx.org

Westbank First Nations - www.wfn.ca

N.C. Derriksan & Son Enterprises - www.ncderriksan.com

Penticton Indian Band - www.pib.ca

Osoyoos Indian Band - www.oib.ca

Osoyoos Indian Band Development Corporation - www.oibdc.com

Okanagan Indian Band -


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however, far from homogenous in their approach or their development plans.

Penticton has only recently formed and started to build its economic base through the Penticton Indian Band Development Corporation, following in the footsteps of the Osoyoos Indian Band Development Corporation. Osoyoos is already well established with ownership or interest in 17 different companies including Spirit Ridge Vineyard Resort, Nk’Mip Winery, Canyon Desert Golf Course, a convenience store, a construction company, an RV park, a daycare, Mt. Baldy Ski Corp., Senkulmen Business park and Oliver Readi-mix.

What each band started with is enormously valuable land. The City of Penticton is squeezed between mountains and lakes leaving the only easily developed flat land on the Penticton Indian Reserve to the west. Osoyoos’ huge territory has been developed in places where highway access or proximity to the Town of Osoyoos makes the most economic sense.

The Westbank First Nations has taken a much more individualistic approach. The band’s land just north of West Kelowna has been the sight of intensive residential, business and commercial developments.

While the Band itself is prospering from an enormously increased tax base from no less than five large commercial developments and 8,000 non-band residents, the entrepreneurial spirit is embodied in a few key individuals who have gathered the land packages. In addition to leasing land, individuals like Noll Derriksan have built up several enormously successful businesses on his own.

N.C. Derriksan & Son Enterprises runs a development company, owns JSDS General Contractors, a heavy equipment leasing company, CA Promotions, Skyline Billboards, an executive travel service and a First Nation jewelry company. Derriksan is prominent, but not alone in his successes.

iNDiaN BaNDs & CompaNies

Okanagan Nation Alliance - www.syilx.org

Westbank First Nations - www.wfn.ca

N.C. Derriksan & Son Enterprises - www.ncderriksan.com

Penticton Indian Band - www.pib.ca

Osoyoos Indian Band - www.oib.ca

Osoyoos Indian Band Development Corporation - www.oibdc.com

Okanagan Indian Band -

from other realtors because VantageOne Realty will only act as a selling agent so they won’t act to help someone buy a home.

For a flat fee of $750 they will list a client’s property (after the client pays for an appraisal and home inspection), put it on MLS, and look after documentation, advertising and signage.

VantageOne is confident that they can get clients to sign on with them because they are effectively cutting the fees for selling a house in half.

Standard realty fees run at 7% on the first $100,000 and 3.75% for the rest of the selling price. VantageOne’s proposed fee structure will be 3.5% on the first $100,000 and 1.75% on the rest, split between VantageOne and the buying agent, with an 80% cut going to the buying agent.

On a $400,000 home normal realty fees would come in around $27,500, which would be cut almost in half under the VantageOne system.

The credit union will also act to set up a pre-qualifying mortgage on the property. If a buyer meets the credit union’s criteria mortgage

approval can happen within two days, which is another way the new division can benefit the credit union.

Asked whether there is any potential for conflict of interest between VantageOne and realtors

who may be members Benischek shakes his head. “The real estate division is completely separate. It will operate at arm’s length.”

Nor does he think this will pressure the credit union to fund mortgages to make a deal go through. Benischek dismisses the idea, saying, “We

can’t change our [lending] policies because we happen to be the listing agency.”

The realty division is a relatively low investment as well. While a full service insurance division for automobiles starts with a $750,000 license from ICBC, Benischek says the total investment to launch the realty service is only $300,000. Staffing is being kept to two persons to start.

They will operate out of an office at the main VantageOne building in Vernon while they test drive the new product, but the service will be available at all four branches.

VantageOne’s proposed fee

structure will be 3.5% on

the first $100,000 and

1.75% on the rest


Movers&Shakersnew golF course

gets nod FroM

norMan

The new Greg Norman designed course in Peachland has received his blessing. The 18-hole course will cover 7,100 yards and cost around $1 billion, including the course, a winery and vineyard, tennis courts, a hotel, commercial developments and a 2,000 unit housing project. The golf course is expected to be open for play by the summer of 2011.

westJet and

southwest shutter

ProPosed deal

The deal that would have seen WestJet and Southwest sharing passengers and revenue has been grounded. The two airlines, which were seen to share a similar philosophy and low-cost atmosphere, reached a

tentative deal two years ago. WestJet would have done the cross border flying, linking clients up with Southwest in the U.S. and bringing Americans back to Canada. Southwest was dismayed to find that WestJet has been pursuing a similar deal with Delta Airlines, while WestJet, for its part, says that Southwest wasn’t ready to take the cross border flights. Southwest denies that.

new autocentre to

oPen in august

A new commercial building on Westbank I.R. land will open in August this

year. The facility, developed by N.C. Derriksan & Son Enterprises, was specially designed for auto services companies. The leasing agent, Coldwell Banker reports that it is already 75% leased out. The building is located at the corner of Daimler and East Boundary Road.

creating $144 Million

A study by UBCO Professor Bernar Momer estimates that the creative sector of the economy in Kelowna produces $37.8 million in wages every year and has an annual economic spinoff of $143.8 million. One part

of the study examines the value created by a single

performance of the Okanagan Symphony

Orchestra and pins the direct impact at $46,024 and the equivalent employment creation at 1.4 jobs. In total the sector provides 1,279 full time equivalent jobs annually. The study took more than a year to complete. Momer says, “This impact assessment demonstrates that the creative sector’s economic contribution to our community is significant and, by extension, that it enriches our social and cultural capital.”

coast inVests in

Penticton

Coast Hotels announced a $25 million, three-phase expansion for its Coast Penticton Hotel. Coast has rebranded the hotel, which used to be a 36-room Travelodge until they closed it last fall for renovations. It opened under the new name on April 19. Construction of the first phase of expansion

(60 additional rooms) will start next year with an expected completion date in 2013. Eventually the plan will transform the hotel into a 185-room luxury resort, located close to the Penticton Trade & Convention Centre and the new South Okanagan Events Centre. A lack of high quality rooms close to the Convention Centre has long been seen as an impediment to the growth of that facility.

Paragon welcoMes

new ceo

Robert (Gordon) Gooding of California has been named the CEO of Paragon Pharmacies. Paragon, with 19 retail operations in B.C., Alberta and Manitoba, is headquartered in Kelowna. Chairman of the Board Martin Weinberg says, “Gordon brings extensive experience in the retail sector having served as CEO, president and chief derriksan auto centre

building

www.feedthevalley.ca

Help Us Support Our Local Food Bank

Feed the Valley is an innovative community partnership aimed at tackling hunger in the Okanagan, Similkameen and Thompson valleys.

All of the food collected and money raised in your community stays in your community.

You can make a food or monetary donation at any Valley First branch or online at www.feedthevalley.ca.


Sandler Training utilizes continual reinforcement through

ongoing training and individual coaching sessions not only to

help you learn but also to ensure your success. With over 200

training centers worldwide to provide support, you won’t fail...

because we won’t let you.




sales?John Glennon






sales?John Glennon






sales?John Glennon



John Glennon109B-3677 Highway 97 North

Kelowna, BC V1X 5C3P: 250-765-2047 F: 866-314-3410

www.glennon.sandler.com



sales?John Glennon



107 - 3640 Gosset Road, Westbank, BC 250.707.1153 www.discoverycomputers.com

A s k t h e P r o f e s s i o n a l sMichael Dias Owner

It’s that time of year again. The heat is just around the corner and summer is not even in full effect yet.

Computers and electronics plus heat do not mix. Computers, even in an average temperatured room, can heat up inside the case in excess of 50°C if not properly

taken care of through cleaning and air circulation. One of the ways to beat the heat for your computer is to

make sure it is in an area that is well ventilated and has a lot of air circulation. Some computers are crammed into

cupboards which means more fans are needed inside the computer to circulate that hot air out. Dust also plays a

major part of over heated machines. I recommend a can of compressed air. No vacuums. No dusters.

They can carry static and if there is a static discharge inside that computer, it’s time for a new computer.

Keep your computer clean and cool and you will have no problems this summer.


Movers&Shakersfinancial officer of a U.S. retail organization he established and grew to a 50-store chain.”

sParkling hill lands

tota conFerence

The Okanagan’s newest luxury resort, the Sparkling Hill Resort & Wellness Hotel has scored by attracting the 2010 Thompson Okanagan Tourism (TOTA) Summit in November 2010. The three day conference is expected to bring in 150 to 200 members of the region’s tourism businesses along with several speakers and a few politicians. TOTA’s

CEO, Glenn Mandziuk says the resort is a great addition to the region and “Sparkling Hill Resort has worked closely with us to keep this very affordable for conference delegates.”

arMstrong chaMber

launches new

website

After some years of being a page on the City of Armstrong’ website, the Armstrong Spallumcheen Chamber of Commerce recently announced the creation of its own dedicated site. The new address is www.aschamber.com.

brooks stePs down

at okanagan college

Dr. Jayne Brooks is leaving her position as dean at the Okanagan School of Business, a position she has held since 2000. Heather Banham, currently the associate dean will be taking over as Dean of Business Administration and Commercial Aviation. Banham has so many degrees that her official title has to be followed by a bowl of alphabet soup to cover off her doctorate, MBA, CGA, bachelor degree and her Australian Society of Accountants designation.

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February 2010 Okanagan Business Examiner | 15

Trade-Marks

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Noll DerriksaN's estate s

• Keremeos (www.keremeos.com)

We humans are hard-wired to make successful investing difficult. “Fight or flight” helped us survive over the millennia. We want to move as part of a herd. We felt the urge to buy high-tech equities in 2000, and switch from equities to the safety of GICs in 2003 and the winter of 2009 at market lows. Our emotions tell us to buy high and sell low.

The field of behavioural finance has grown to explain some of the things we do wrong, and it is fascinating, but it doesn’t explain what we should be doing right. For that, we need high school math. Let’s look at what the numbers are telling us.

The most important number is the expected

lifespan of a portfolio, which gives us our shopping list of investment choices.

A time horizon of three years or less is shorter than the length of time it can take the stock market to recover from a bear market or crash. All else being equal, short term goals like education funding for a child already in university, or the down payment for a house purchase in two years should be invested in something that can’t suffer a downdraft. Short timeframes give us savings vehicles like GICs, money market funds, high interest bank accounts, and short term bond funds. The interest rates are painfully low, but give a degree of comfort that funds will be there when needed.

A time horizon of 10 years or more is about one and a half economic cycles, from boom to bust and on to boom again. There is enough time for recovery from a recession, bear market or crash. The shopping list gets bigger, adding equities, income trusts and a full range of corporate and longer term government bonds.

The numbers on these are interesting. Studies, going back centuries, show that over the long term, stocks (meaning ownership of publicly traded companies) earn investors an average of 10% per year before fees and taxes. Bonds (loans to governments or companies) earn 7% per year, on average. Short term government bonds earn about 4% per year. And the longer the time horizons, the closer the outcomes match the averages.

The numbers are telling us now that interest rates are painfully low right now. A major Canadian bank advertised 1.55% annual interest on its three year GIC and 2.3% for five years on its website on April 29. (Just for the record, independent planners such as ourselves were offering 3.0% for three years and 3.65% for five years on that date.) Headline inflation is running at 1.4%, so the real rate of return (in terms of buying power) on that bank-sponsored GIC is close to zero in a tax efficient TFSA. If these interest paying investments are held in such a way that taxes are payable, the effective real

rate of return is negative. That can make sense over the short term, but is a poor plan for the long term.

Compare that with the bank shares’ dividend rate of 3.3%. That dividend is VERY tax efficient, with low to negative tax rates (that’s not a typo) for many investors. Dividends will probably rise over time with earnings and as OSFI’s new capital requirements are sorted out. The stock price will probably rise over time unless the bank makes major missteps. Which return would you rather get? Would you rather be a client of that bank, or an owner? The math shows that right now, dividend paying stocks are a much, much better deal than most interest paying investments.

It’s a little more complicated than that, of course. Owning a single stock is risky, and most investors would be better off with a diversified portfolio containing more than 20 companies, spread across different industries – as in a mutual fund.

Share prices can decline over the short to medium term, as we have been reminded twice over the past decade. But it would have to be “different this time” for safe, interest paying investments like GICs and government bonds to do better over the next decade. The math and history suggest shares will give a higher and more tax efficient return for those of us who can live with the volatility.

The numbers are straight forward and lead us to an obvious conclusion. The hard part for long term investors right now is acting on the logic and overcoming the “fight or flight” instinct to the safety and near zero returns of GICs and bank accounts.

Dominik Dlouhy P. Eng, MBA, CFA is a Chartered Financial Analyst and planner with Partners in Planning Financial Services Ltd. and The Fraser Financial Group LLP. You can reach Dominik at 545-5258 or [email protected] with any questions, comments or issues you would like to see covered in this column. The opinions expressed in this article are those of the author and not necessarily those of Partners in Planning or The Fraser Financial Group.

Investment Math 101“Be fearful when others are greedy. Be greedy when others are fearful.”

– Warren Buffett


For the non-residential construction industry, the issue of the March 31, 2011 deadline for completion of all federally funded infrastructure stimulus projects is of considerable concern.

In the lead up to the 2009 Budget, the Canadian Construction Association lobbied the federal government for additional funding for infrastructure construction, because this type of stimulus provides the greatest value for the government dollar when it comes to both job generation and net economic benefit.

According to the Federation of Canadian Municipalities, for every $1 billion spent on infrastructure construction, more than 11,500 jobs are created or sustained.

In the first eight months of the current recession we saw a net decrease in Canadian construction employment of more than 124,000 jobs by July 2009, which is the point at which many municipal governments began tendering federally approved infrastructure projects. Since then, except for November 2009 and February 2010, we have seen consistent month-over-month increases in employment, with more than 54,000 jobs added from July 2009 to March 2010 – an indication that these federal measures are working and helping sustain and create jobs in our sector.

But things have not always been smooth.

The first deadline for federal projects closed in May 2009, with the first federal approvals issued in June. However, many municipalities were confused and held off going to tender while they waited for a formal letter of approval from Infrastructure Canada.

While frustrating from a contractor’s perspective, this process was still far faster than its predecessor programs, in part because of changes the government made to the formal application process and the exemption it gave these projects from federal environmental assessment regulations.

Despite these minor process implementation issues, we as an industry have been pleased with the overall rollout of these projects, particularly since they came at a time when many companies were finishing off their backlogs and looking for more work.

Now there is a growing concern within the industry that some of the projects being tendered for this construction season, particularly those civil engineering projects that are seasonal in nature (such as road work), may not be completed by the government deadline. An early winter or another wet summer might mean that many of these roadway expansion projects would not be completed before the end of this year’s construction season, which

is usually late October. And since typically these projects cannot be finished during winter months, many will not meet the deadline.

Even for projects where construction can continue (such as commercial and institutional construction or the college and university projects approved under the Knowledge Infrastructure Program) there are concerns about the deadline because they took on projects that were not so “shovel ready”. This has forced them to add extra shifts and to work their crews longer hours than normal to stay on schedule.

It is becoming clear that some of the projects will simply not be completed in time.

Our concern is that some municipalities may transfer the liability for a loss of federal funds onto the backs of contractors as liquidated damages. (Liquidated damages are damages defined in the construction contract and chargeable against funds due to the contractor for each day the contractor fails to complete the project beyond the contract completion date.) These liquidated damages clauses will hold the contractor responsible for any loss of federal funding arising from the project completion slipping beyond the March 31 date.

Clearly, the intent of the federal government

in developing these programs was to help stimulate the economy through infrastructure construction, not the legal community, which may yet benefit from the ensuing litigation required to sort out liability for projects that extend into April of next year.

Our members are not calling for additional federal stimulus; simply a more tapered approach to the withdrawal of stimulus.

Our hopes are that the federal government will change its position on the deadline and make a change in policy this year, not next year when the damage may be irreparable.

Many tenders going out this spring will implement liquidated damages clauses that, at this date, will force contractors to avoid working on federal projects for fear of the liability issues. For those that do, they may build into their price a risk premium. In the end, this means we will be paying more for the construction of these projects and getting less value for taxpayer dollars.

Debbie Hicks is the president of the Southern Interior Construction Association (SICA). The website for SICA is www.sica.bc.ca. To contact the local branch of SICA send an e-mail to [email protected] or call 250-491-7330 or toll free 1-800-661-7322.

Extend the Stimulus Fund Deadline for Construction


doing business in the u.s.a. - May 18 -

ostec oFFice, kelowna

A three hour session from 1 to 4 pm. No price listed. For more information contact Angela Hapke at 250-712-3341.

business aFter 5 - May 18 - royal

bank, Vernon

The Greater Vernon Chamber of Commerce’ monthly networking event from 5 to 7 pm. $5 for members, $15 for non-members. Call 250-545-0771 for information.

business aFter hours - May 20 -

aValon eVent rentals, kelowna

The Kelowna Chamber of Commerce’ monthly networking event from 5 to 7 pm. $7 for members, $12 for non-members.

social Media Marketing - May 20 -

howard Johnson inn, enderby

A one-hour Lunch & Learn session for Enderby Chamber Members beginning at noon. Allison Markin of All She Wrote Consulting will present on how to make use of social media for your business. Free to members except for the cost of lunch. Register with the Chamber by calling 250-838-6727.

Vwib woMan oF the year - May 20 -

best western Vernon lodge

Vernon Women in Business’ 23rd Annual Woman of the Year Gala dinner beginning at 5:30 pm. $40. Contact information: Krista at the Balance Natural Health Clinic - 250-545-0103.

2010 technology showcase - May 26 -

coast caPri hotel, kelowna

The ‘5th Annual Information Technology for Business’ conference will link local companies with presentations and booths at a conference on how technology can solve many problems and give a peak of innovations to come. From 8 am to 4 pm. Free. For more information go to www.vodagroup.com/tradeshow.html.

business aFter business - May 27 -

Penticton u weight loss clinic

The Penticton & Wine Country Chamber of Commerce’ monthly networking event from 5 to 7 pm. Free for members, $20 for non-members.

under ProMise & oVer deliVer

seMinar - May 27 - Penticton chaMber

oF coMMerce

A two and a half hour workshop on important customer service issues running from 9 to 11:30 am. $45 for Chamber members, $65 for non-members. Pre-register by calling 250-492-4103.

breakFast learning session - May

28 - 19 steakhouse & lounge, west

kelowna

A Westbank Chamber breakfast event from 7 to 8:30 am. Speaker Paul Beauchemin will give a talk on how to drive targeted traffic to your website. $17 for members, $21 for non-members. Register by calling 250-768-3378.

Fieldstone organics oPen house

- May 29 - Fieldstone granary,

arMstrong

An invitation to see Fieldstone’s operations and organic, whole grain products on the farm north of Armstrong. Free. 250-546-4558.

hst seMinar - May 31 - arMstrong

A two hour seminar by the Canada Revenue Agency and the Armstrong Spallumcheen Chamber of Commerce beginning at 6:30. Free. Register with the Chamber at 250-546-8155.

Vwib luncheon - Jun. 2 - schubert

centre, Vernon

Vernon Women in Business’ monthly luncheon, networking meeting. From 11:30 am to 1 pm. $14 for members, $20 for non-members. Contact information: [email protected].

lake country tourisM showcase

Market - Jun. 4 - swalwell Park, lake

country

Trade show and out door festival from 4:30 to 7:30 pm. Vendors can rent space or advertise. Booth space: $37 for members, $50 for non-members. Contact the Chamber at 250-766-5670.

social Marketing: the Power oF

networks - Jun. 8 - howard Johnson

inn, enderby

A seminar for Enderby Chamber Members running from 9 to 11:30 am. Allison Markin of All She Wrote Consulting will present on how to make use of social media for your business. $45

for Chamber members, $65 for non-members. Register with the Chamber by calling 250-492-4103.

luncheon with Jock Finlayson - Jun.

9 - coast caPri hotel, kelowna

Finlayson will speak on British Columbia’s Post-Olympic Economic Outlook from 11:45 am to 1:30 pm. $35 for Chamber members, $45 for non-members. Tickets must be purchased in advance. Call Allison at 250-469-7350.

business aFter hours - Jun. 10 - the

coVe lakeside resort, west kelowna

A Westbank Chamber of Commerce networking event from 5:30 to 7 pm. Free for members, $5 for non-members. RSVP is required. 250-768-3378.

Pursuit oF excellence - Jun. 11-13 -

Prestige inn, kelowna

One of the longest running and most successful development courses to improve a person’s communication, conflict resolution and awareness of their own style. Offered by C3 Training, the course runs all three days from 8 am to 8 pm. $595 for the first person. Go to www.c3training.com or call 120-491-1212.

business aFter 5 - Jun. 15 - regional

district oF the north okanagan

oFFices, Vernon

The Greater Vernon Chamber of Commerce’ monthly networking event from 5 to 7 pm. $5 for members, $15 for non-members. Call 250-545-0771 for information.

workPlace training For innoVation -

until Jan. 2011 - all locations

B.C.’s Ministry of Advanced Education and Labour Market Development has created the new Workplace Training for Innovation Program. Eligible employers can apply for funding to improve productivity, introduce new technology or equipment, improve international competitiveness or bring in new strategies to increases company productivity or competitiveness. Employers must have fewer than 50 employes, have been in business for at least one year and be in good standing with the BC Corporate Registry. More information and applications are available online at www.aved.gov.bc.ca/workplace_training_program/welcome.htm.

labour Market MentorshiP PrograM

- ongoing - south okanagan

This program is offered by South Okanagan Immigrant & Community Services. It matches professional mentors with clients who need a guide in the Canadian job market. Mentors can play a variety of key roles in an immigrant’s life. They can help newcomers to chart a career path, or give a newcomer an opportunity to volunteer within the mentor’s business. Contact Endrené Shepherd at 250-492-6299.

C a l e n d a r

There are advantages in importing from China for the building trades, particularly if you are a general contractor and build retail and commercial buildings.

Care must be taken to have or acquire a capable agent to act for you on the ground in China; without one it’s a risky business. An agent acting for you will ensure you get the product you want, and the quality you desire.

A good agent will have the connections to achieve this for you, and make your experience one without regrets. An experienced agent is a must!

The savings are substantial and well worth the effort, if you have the capital to do so. Often you can get your product shipped here at, or very near, wholesale. Be prepared to order in quantity, for your product will arrive in a container, or containers. Depending on the weight of your product, a container can hold a lot of product.

Importing from China can be a boon for contractors who are building a number of

structures and need large quantities of product, which will of course increase your profit.

FROM THE DESK OF

GRAND CHIEF, WESTBANK FIRST NATION | GRAND CHIEF, UNION OF BC INDIAN CHIEFS, FOUNDING MEMBER

DERRIKSAN

iMPORTinG FROM CHinA FOR COnsTRuCTiOn


Noll Derriksan is Grand Chief of Westbank First Nation Lands, Grand Chief of the Union of British Columbia Indian Chiefs and owner of NC Derriksan and Son Enterprises, which, among other business pursuits, is a development company.


Where Wise Financial Decisions come from

For most entrepreneurs, a business is more than just its bottom line, but, like it or not, profit is ultimately what

makes the entrepreneurial world go round. Unless you or someone close to you has very deep pockets, if you’re not turning a profit, you’re not going to stay operational for very long.

Deb Muirhead knows how much fun it can be running two exciting companies that provide services and products for the snow-resort industry across North America. She also knows how important it is for her, as the owner of Inter-Mtn. Testing Ltd. & Inter-Mtn. Enterprises Inc., to have a good handle on her companies’ finances.

Many entrepreneurs dread the words ‘financial understanding’ even though much of the success of their business relies on it. For those who shudder at the thought of tracking numbers, Deb

has some advice, “Get professional help early in the process of setting up the company. And you have to continue to educate yourself on all the financial obligations so you will know what to do when the business grows and changes.”

Among the tenets of a sound and successful business:

1. Get an accountant you can trust, who understands small business; and

2. Make sure you have enough financial understanding to be able to make use of what your accountant tells you.

Try leafing through the Yellow Pages in search of an accountant, and you’ll discover that, in any fair-sized community, there are a lot of them. How in the world do you go about finding your gem of a financial advisor amidst all those names?

One of the best ways is to ask another business owner. Pick one who is successful and who you think shares, at least to some extent, your philosophical approach to business. Then ask them who they use and if they’re happy with the relationship.

‘Relationship’ is the pivotal word here. Think

about it. You will be sharing very personal, very sensitive information with your accountant. It can’t be just anyone. That means you may have to interview a few before you actually decide on the one you’re going to commit to.

In addition to finding someone who is on the same wavelength as you, you’ll also want someone who understands not only small business in general, but your own industry and operation in particular. Look for someone who has had some experience with businesses of your kind. The rest of the selection process depends largely on your preferences. What kinds of fees are you prepared to pay? How available do you want the accountant to be? How much input do you want the person to provide into the planning for and running of your business?

Remember that selecting an accountant does not abdicate you of personal responsibility for the financial well-being of your company. Your accountant is your advisor, nothing more. He or she does not run your business – and that’s probably a good thing. Accountants tend to be very focused on revenues, costs and profits. They are objective, which serves a purpose. But they can’t bring the insight that you can bring to an assessment of your books. Only you know if a marketing expenditure is worth its weight in gold because it will draw customers through your door.

Clearly, understanding your company’s finances will go a long way to ensuring you make good strategic and operational choices. You don’t need to be a CGA. Accountants go to school and train for a long time to attain the high level of financial acumen they have. That’s why you hire them. Your role in the relationship is to use your intimate understanding of your business to make efficient use of the accounting information in your decision making. That includes the analysis of your financial statements and of the key ratios that serve as measures of business health.

Of course, accountants are also extremely useful for dealing with those inevitable taxes. A good accountant will help you plan with tax implications in mind so that even when you’re turning major profits, your tax contributions are kept in line. That way, you can really enjoy the fruits of your labour.

Women’s Enterprise Centre is the go-to place for B.C. women business owners for business loans, skills training, business advisory services, resources, publications and referrals. Call us at 1.800.643.7014 or e-mail [email protected] from anywhere in B.C.

Need a new and interesting way to tell your business story? We can help.

EVERY ISSUE WILL INCLUDE THE FOLLOWING STANDARD FEATURES

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MAGAZINE

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Field to Plate is an extension of the Grower’s Journal, which has been in existence for over 14

years. Field to Plate is published quarterly and will provide up to date information for both the

consumer and the food producers of the agricultural regions of B.C. Field to Plate’s goal is to

bridge the gap between the source of the food on your plate and the actual food we eat.

Field to Plate’s mission is to promote local, fresh, quality, sustainable eating and living.

Each issue will inspire, inform and educate readers about the source of the food we eat and

the steps along the path that get it to the plate!

• Shopping Tips - for buying the best in local and organic ingredients

• Stories about local food producers

• The origins of food

• Sustainable eating and living

• Challenges facing today’s agricultural industry

• Seasonal products and where to get the best

• Farmers’ Markets Directory

• What you need to know about food production

• Culinary Tourism ... and much more

Field to Plate is distributed through food retailers, farmers’ markets (during the spring, summer

and fall), wine stores, culinary schools, book stores and mailed directly to the B.C. Fruit Growers’

Association and B.C. Wine Institute Members.

Notes

For advertising inquiries contact:

JACK KANIA 250-212-0189

EVERY ISSUE WILL INCLUDE THE FOLLOWING STANDARD FEATURES

PUBLICATION DATES ARTWORK DEADLINE

Spring - April 1, 2010 March 18, 2010

Summer - July 15, 2010 June 25, 2010

Fall - Oct 1, 2010 September 6, 2010

Winter - January 15, 201 D1 ecember 15, 2010

AD SIZE 4X 2X OPEN

FULL PAGE (A) 7.25” x 9.58” $845 $895 $975

BACK COVER (A) 8.625”x 11” $1198 $1355 $1495

INSIDE COVER (A) 8.625”x 11” $915 $1150 $1295

1/2 PAGE (B) 7.25”x 4.71” $649 $695 $745

1/3 PAGE (C) 4.78”x 4.71” $445 $495 $525

1/4 PAGE (D) 3.55”x 4.71” $405 454 $475

1/6 PAGE (E) 2.31”x 4.71” $249 $265 $295

Produced by Prosper Media Group, who also publish SAVOUR Magazine, Gourmet Okanagan Style.

NOTE: Sizes are in inches, width x height. Full Page bleed is .125” on four sides. Final trim: 8.375” x 10.75”

MAGAZINE

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A good hair day

INSIDE: Tier of Support

The Boutique Town

On Saving Haiti

Talbot’s Photo Odyssey

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Gourmet Okanagan StyleMAGAZINE

Vintage Family Businesses

Destination Golf Tees up to the Table

Dining in The Golden Triangle

Naramata as a Slow City

Let’s face it, in today’s economy companies are

careful how they market their business.

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Okanagan Business Examiner May 2010

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