A. Hopkins Insurance & Financial Services

Author: inhouse

  • Keeping your business current during COVID-19: Ted Kouri of Edmonton’s Incite shares his pandemic plan

    Keeping your business current during COVID-19: Ted Kouri of Edmonton’s Incite shares his pandemic plan

    Many of us are stewing, stressing, wondering what we are supposed to be doing right now, other than swimming for our lives. Do I need a new business strategy? Should I plan for a major pivot—think up new ways to deliver my services or products? Should I be shutting my doors?

    “Business as usual” seems a proverb of a long-time past—most business owners are navigating a terrain as foreign as the moon right now. “This isn’t like any other time we have ever experienced,” says Ted Kouri of Incite, an Edmonton-based strategy firm with national reach that helps small businesses grow into new markets and build brand loyalty.
    “It feels different than H1N1 or any market crash that has come before because it hit us so fast,” says Ted. “COVID-19 doesn’t discriminate geography or industry, we are all affected, business-wise and personally.”
    Most people agree, this is not the time to be ‘making the sale.’ We asked Ted how he is keeping his business current and an asset to others, and personally navigating this time of uncertainty. Here is what he shared:
    1. Keep your clan in the loop.
    Internal staff communication has looked like the following over the past weeks: Layoffs, down-sizing, uncertainty, and more layoffs. No question, there are lots of scared people. Ted suggests keep all your staff in the loop, whether they are laid off or not. “If your whole team is kept up to date, messaging regarding your business can stay consistent and transparent,” says Ted. “Don’t pretend it’s not difficult when communicating with your team, but don’t let fear rule the day. Be upfront, but positive.”
    2. Repackage your services. Never has “adapt or die” been more true in business, however, according to Ted, “It’s a mistake to totally abandon your strengths right now. Instead, get creative about how to bring your new ideas or service segments to market,” he explains.

    “There might be new needs your clients have never had before.”

    Ted also advises, make short term pivots that have long-term value. “Don’t give your services or products away for free, but repackage them. A different version of your core services might be a four-week offering vs. a five-month plan.” For restaurants and grocery stores, it’s curb-side pick-up. For the beauty industry, it’s using training technologies such as YouCam A.R.T. to stay connected with clients and have them “try-on” new products. Fashion and retail industries are using new app, Streetify to give clientele a virtual shopping experience.
    3. Make a game plan. “Back to normal” seems elusive right now. No one knows when that will be; however, having a game plan—a vision for what “later” could look like—can put the mind at ease.
    “Businesses need to think about market share that could be gained when businesses are up and running again,” explains Ted. For Incite, 3, 6, and 9-month contingency plans have given them a path forward, some options when it feels like there are none. “A contingency plan doesn’t have to be complicated,” says Ted. “Just a one-pager laying out some avenues to take once we have past certain gates.”
    Ted believes brands that go dark—those who don’t have external communication while they are temporarily closed—will have a harder time to hit the ground running when it’s time. “Decide how you can maintain relevance with your clients and stakeholders right now, and make an authentic connection.”

    “The small businesses that choose to show up for their clients now will do better in the long term.”

    4. Decide your personal mindset. “One of my favourite business pieces is Dan Sullivan’s ‘Scary Times Success Manual: How to be a leader when times get tough.’” How we decide to show up right now matters. A lot. “People admire those who can stay positive, shed light or solution on a situation.

    “There has been no better time to show personal leadership and be of value to others than now.”

    It may be hard to believe at the moment, but there’s a chance that this crazy time is an opportunity for businesses to get better at what they do. “What’s important is to focus on what is not different,” says Ted. When we are forced to downsize, get creative, save money in order to survive, we quickly see the holes in the way we operate. “There is opportunity that will come from this time. The trick will be to have your running shoes tied on the start line when the sun comes out, and all this is over.”
  • Your Business Website Content Review: How to get started and what to consider

    Your Business Website Content Review: How to get started and what to consider

    If your business brochure went to print with two or three spelling mistakes, you would probably reprint to save yourself the embarrassment. However, we tend not to take digital publishing polish as seriously. We all stumble upon web pages and blog posts with typos and broken links daily.

    A content review, or “audit”, is a great way of improving your business website performance. Reasons to perform an audit on an annual basis, include updating new board members, news you keep on your site or awards you might be celebrating. Also renewing your events calendar, new services, pricing, or portfolio pieces to show off your work…And, of course, to make sure all spelling and grammar is sound. It’s also a chance to find out where most or your users are spending their time on your website, and make some valuable changes.

    Wondering where to begin?

    Start by creating your webpage inventory

    Most content strategy companies suggest beginning a content review with a webpage inventory, to ensure no corner of your website is neglected or forgotten. Webstruxture , a solutions-based web applications designer, suggests using an Excel spreadsheet to create a map. Columns might include:

    • Name of the web page
    • URL
    • Content Owner
    • Date the content was reviewed
    • Date it was approved
    • Next review date

    Webstruxture also recommends project management program, Asana, to help stay on top of your content review plan and create a manageable schedule.

    Assign Roles and Responsibilities

    Like any internal project, making sure your team is clear on who “owns” what task and responsibility sets them up for success. GatherContent , a platform on which a team can plan and organize content at any scale, suggests getting the following people involved:

    • Subject Matter Expert (SME)
    • Editor
    • Copywriter
    • Marketing Manager

    Wondering where you are going to fit this into your tight schedule? A content review doesn’t have to be finished in a day. Break it off into bite-size chunks and give your team a reasonable deadline.

    Create a content review housekeeping list (But don’t be afraid to think outside its parameters!)

    There are obvious things to look for in a content review, such as bad spelling and grammar, but there are many steps to testing your site. A thorough check-list used by web strategist and designer, Intechnic includes the following:

    • Click on all links to make sure they are still working
    • Fact-check to ensure accuracy of the information on your site
    • Assess white space: is the page too content heavy? Do you need more images?
    • Evaluate the validity of the existing content. Does it still accurately depict the services or products you are offering. Is the message aligned with your brand, your core values?
    • Check load time of each page
    • Check for inconsistent formatting
    • Ensure all meta-tags and page titles are in place

    Invite a third-party to help you review

    Some of the most important questions you might ask when performing a website content review is:

    “Am I satisfying the needs of my user? Are they finding the information they came to find?” How do I know my content is engaging?

    Expertise can make it hard to know what people don’t know. A third-party content writer or strategist is a great resource to have on board to offer an outsider’s perspective and address some questions that might be essential to improving your user experience.

    Evaluate your analytics

    Knowing where your users are spending most of their time on your website can also inform your content review. If there are pages that are getting no traffic, maybe that content can be archived, or the right search terms do not appear in headings, subheadings, and body of the content.

    What can be gained?

    The outcome of a content review can be very rewarding and might lead to your renewing customer and potential client engagement, a renewed confidence in your business message, and turning more site visits into leads and conversions.

    A first content review might seem like a mountain of work, however, once you have an inventory in place and assign roles, it gets simpler with every calendar year. Whether your content review is part of a content strategy for a new website or an annual review of your existing site, it’s always worth spending time improving one of your business’ greatest assets.

    Author: ChamberPlan.ca

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  • Is This the Year You Learn How to Meditate?

    Is This the Year You Learn How to Meditate?

    Dating back to ancient times, meditation has been used to facilitate mindfulness, awareness, enlightenment, and reflection. And now, researchers are looking at how the practice of meditation affects our mental and physical health, and even how it changes the brain .

    What was once considered a mystical exercise in mastery of the mind, meditation is everywhere with many companies like Google and General Mills encouraging employees to incorporate it into their daily routines. Despite its ubiquity, it can still be intimidating to jump headfirst into the practice of mindfulness.

    How does it work? Where do I start? Do I need to bring a yoga mat to the office?? Relax, take a deep breath, and read on to learn how the practice of meditation can make you work better. You’ll be optimizing productivity and improving focus in no time!

    Benefits of Meditation for Leaders and Team

    The founder of the mindfulness curriculum at General Mills, Janice Marturano, went on to start the Institute for Mindful Leadership — a non-profit training institute that offers retreats and workshops to teach employees how mindful practice can build resilience, increase creativity and focus, and help foster compassion.

    Marturano studied over 100 participants of a seven-week mindfulness workshop from 2008 to 2010. She asked them to reflect on how mindful practice was manifesting in their daily routines and what benefits they had noticed. Marturano found that 83% of participants were carving out time each day to think about ways to optimize their personal productivity, and 82% were eliminating tasks of limited value. On average, eight out of ten noticed improvements in decision-making and nearly 90% reported that they had become better listeners.

    As researchers continue to evaluate the effects of meditation practice on our bodies and behaviour, the evidence is stacking up in its favour. Much like aerobic exercise improves the cardiovascular system, meditation trains and tones the mind to function more effectively. According to Healthline.com these are a few other known health benefits of meditation:

    – Reduced stress & anxiety

    – Improved emotional health

    – Enhanced self-awareness

    – Lengthened attention span

    – Delayed age-related memory loss

    – Greater kindness to self and others

    – Improved sleep

    – Pain control

    Which Type of Meditation Works Best?

    A quick Google search and you’ll find that there are anywhere from six to 23 different types of meditation out there. Where do you even start?

    While you won’t likely start out of the gate with a handle on all 23 techniques, varying your practice with different styles of meditation will give you a well-rounded practice. You’ll soon discover which methods work best for you and how different situations or challenges may require different techniques to help guide you through. Here are five types of meditation to get you started:

    1. Mindfulness Meditation – Start by being fully present with your thoughts and aware of where you are and what you are doing. Typically using a focus on breath to anchor the practice, you observe thoughts and emotions as they come, but release them without judgement.
    2. Transcendental Meditation – Using a personally assigned mantra such as a word, phrase or sound that is repeated in a specific way for 20 minutes twice daily, this technique is meant to inspire deep inner peace, relaxation, and rest.
    3. Guided Meditation – To help achieve a fully relaxed state, a guide will lead you through a series of mental pictures and visualization using smell, sound, and texture to create a sense of calm and peacefulness.
    4. Vipassana Meditation – This ancient Indian form of meditation aims to create self-transformation through self-observation. By developing a strong awareness of physical sensation in the body, the connection between body and mind is strengthened.
    5. Metta (Loving Kindness) Meditation – As the name suggests, this practice focuses on directing goodwill towards oneself and others through the repetition of the following phrases: “May I be happy. May I be well. May I be safe. May I be peaceful and at ease.” The practice continues as you visualize someone else and repeat the mantra, replacing the “I” with “you.”

    Taking Meditation to Work

    Interested in using mindfulness and meditation to help boost engagement and innovation for your team? From online seminars to corporate meditation workshops, there are plenty of ways to bring the practice of mindfulness to the office.

    Mindset Brain Gym in Toronto offers drop-in classes, multi-week courses, and customized corporate mindfulness training sessions. With a focus on clinical mindfulness techniques, positive psychology, and neuroscience, Mindset has been helping companies like Uber, Holt Renfrew, and BMO bring mindfulness to the workplace.

    Vancouver’s Salt & Spirit Wellness creates customized programs, workshops, and retreats ranging from four to 12 weeks in length. Meditation programs focus on stress management and fostering greater focus, connection, and clarity. They also offer corporate rates for companies so that employees can enjoy unlimited meditation, wellness, and fitness classes at Salt & Spirit.

    MindWell-U delivers the popular Mindfulness Challenge — a 30-day online training program that delivers a meditation curriculum using short videos, podcasts, emails and text messages for 5-10 minutes each day. This delivery style makes it easier for employees to find time during their busy day to attend to self-care and mindfulness.

    It’s never been easier, or more encouraged, to adopt meditation practices as part of an overall approach to mind and body wellness. Let this be the year you make more time for you. You’ll thank yourself for it later.

    Author: ChamberPlan.ca

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  • The Benefits of Hiring a Virtual Assistant

    The Benefits of Hiring a Virtual Assistant

    We spend, on average, 12-18% of our work week answering email—that’s an average of 620 emails a week, and about 11 hours of sifting through our inboxes, reading and crafting responses to connect and bring in business. Virtual Assistants (VAs), both human and AI (Artificial Intelligence), are a growing necessity for a business owner looking to keep her or his head above water.

    There are all types of VAs for hire : social media or blog management; VAs specific to product launch, administration, transcription, accounting tasks, and everything in between. Hannah Paré of Liferaft Virtual Assistance specializes in email clean-up and maintenance, and customer service support. She supports her clients in anything from grocery shopping for a food truck to helping clients respond to business leads.

    “A VA is a great fit for an entrepreneur, business owner or executive who wants the flexibility of a contractor,” explains Paré. “ The ROI makes sense—you don’t have the expenses of a full-time employee and, depending on your hourly rate, you reduce the number of hours on tasks that are not revenue generating.”

    Other reasons to invest in a VA:

    1. Stay on top of new technologies and trends. Hire someone who understands the world of social media, changing algorithms and social influencers. “What if your customers are more inclined to shop based on social media influencers?” suggests Paré. “That’s good information to know before you spend money on traditional marketing avenues.”

    2. Support to automate weekly and monthly tasks. “Some of my clients are working a full-time job as well as trying to manage all the details of a side business and a family at home,” explains Paré, “That gets overwhelming pretty quickly if there aren’t certain processes in place. This is where things like automated invoicing processes, accounts receivable follow-up, or GST preparation is made easy if someone can take them off your plate.”

    3. Services and Apps audit. Business owners and entrepreneurs do it all the time—pay a “bells-and-whistles” price for a software they only use for its basic functions. “There are hundreds of choices out there for programs and software, such as a file-sharing or storage, but to research them all takes time. A VA can look for the money-saving alternatives that are better suited to their clients’ needs.”

    4. Costs audit. Online storage, file sharing services, memberships, SEO and website maintenance, floor mat cleaning, insurance—and the list goes on—how often do we really assess what is coming out of the business bank account every month? We sign up for memberships and services, and months (sometimes years) later are still paying for them, but not using them. “Like checking for quality control, check for holes in your bottom line that can be rectified by pressing the ‘unsubscribe’ button. A VA can help in finding and getting rid of those extraneous costs.”

    5. Digital clean-up. It’s all those educational articles, those docs from professional association’s membership, it’s the list of blogs you want to read, that will benefit you, but you can’t get to right away. Your VA can file them, put them where you can easily access them when you have the time.

    Also, business owners meet the expectations of their clients when they have all documentation at their fingertips. Get help organizing all your client’s emails and attached docs into a filing system that is easily accessible. “Digital organization and efficiency can be so time consuming, but also saves you so much time in the end, and results in better service delivery,” explains Paré.

    Some tips for getting the most out of your Virtual Assistant?

    1. Set the communication expectations from the beginning,” says Paré. “Do you expect your VA to be available in the evenings? Within 24 hours or less?”

    2. Avoid micromanaging your VA. “Before you hire, know what tasks you want your VA to be responsible for and make sure you are comfortable delegating those tasks.”

    3. When hiring your VA, interview your candidates face to face if possible, not only over the phone. “You need to know if you are going to click with the person who is managing your inbox.”

    4. Decide what contracts you need your VA to sign, whether it is non-disclosure, or other.

    5. Have your access codes, passwords and logins available so that your VA can accomplish what they need to without the roadblocks.

    Author: ChamberPlan.ca

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  • Responding to COVID-19 for Employers and Employees

    Responding to COVID-19 for Employers and Employees

    As the COVID-19 pandemic continues to evolve, I will do everything I can to provide the most up-to-date information for my valued clients and community. The best way for us to all do our part in the prevention of this virus starts at taking social distancing measures to help reduce the number of new cases, and protect communities. Self-isolation is essential if you have symptoms or have been diagnosed. Of course, it’s best to stay home if you do not need medical assistance. When out and about for essential reasons (i.e. grocery shopping) keep a distance between yourself and others. At this time it’s important to avoid crowds and large social events entirely, if possible.  

    Here are some common questions that might clear up your immediate confusion and anxiety related to Covi, as of March 20, 2020:

    Do I have disability coverage if I contact COVID-19 or am quarantined?

    If you hold Weekly Indemnity coverage under Chambers Plan and have contracted COVID-19, or have been under quarantine, or both, you can submit a claim. A self-imposed quarantine, not ordered by a Provincial Health Authority or a physician, is not considered a disability. A quarantine requested by an employer is also not considered a disability. If you do not have Weekly Indemnity coverage and are placed under quarantine, you may be eligible for Employment Insurance benefits. 

    Given these uncertain times and the possibility of delays in public services, what’s the best way to manage my plan and submit claims?

    The best way to manage your plan is through our online benefits platform, my-benefits.ca. If you haven’t created an account, you can do so by clicking “sign-up” and then following the steps.

    Once you’ve created an account you can sign up for direct deposit of claims payments to receive reimbursement of your claims, as soon as they are processed.

    Do I have any trip cancellation? If I need to return home prior to the end of my scheduled trip, will I be covered?

    Chambers Plan does not offer any trip cancellation or interruption under the out-of-country coverage.

    For employers, the best ways to proceed in the workplace with the risks of COVID-19 include practicing the following:

    • Make sure employees are informed and have access to reliable information
    • Assess the situation daily and adjust the information if necessary
    • Rely on trusted sources of information to share with your teams – for support, contact our Health Information Specialists or refer to your Health Navigation platform
    • Provide access to handwashing areas and hand sanitizer while promoting hygiene best practices
    • If possible, allow employees to work from home or arrange schedules to reduce social contact
    • Be flexible with sick day requests and adjust your policies as needed
    • If you are sick, stay at home
    • Learn from COVID-19 and prepare for future similar events

    Below is a resource guide created by the clinical team at Novus Health®, our partner that powers our my-benefits health® platform, containing useful information for employers and their employees and further developed answers to the questions above, and more. 

    CH_COVID19 update, 03-15(1)

    Watch this webinar, where Teladoc Health’s Chief Medical Officer, Dr. Lew Levy, and Director of Clinical Quality and Informatics, Dr. Bridget K. McCabe, discusses the latest updates on the COVID-19 outbreak, protocols in place to identify and report cases, best practices for educating and preparing your population, and the role of virtual care in minimizing exposure to potentially contagious viruses.

  • Business Process: Is it time to rethink it?

    Business Process: Is it time to rethink it?

    Process. The word strikes deep into the hearts of business owners because we never stop thinking about it, or questioning it.

    · Is my business working at an optimal level?

    · Did I only need one meeting to accomplish what I just did in three?

    · Could I have accomplished this task online or over the phone and saved the effort and time of meeting in person at this stage of the client relationship?

    Overall, business process can be described as a collection of linked tasks which, at completion, result in delivering a product or service to your customer or client. Some companies outsource this, others manage it internally; however, business process management (BPM) is also a growing industry, expected to be grow to a $16 billion market by 2023.

    There are many reasons to rethink your process:

    · Growth, new market environment

    · A restructure after acquisition

    · Improve quality control

    · Changing expectations of the customer or client

    · New and better technologies available

    An online business will have a much different set of processes than, say, a retail operation, vs. a non-profit organization, of course, but many of the same questions about process apply.

    Explorance, a provider of survey software advises that if you are changing up any one or more processes in your business, start with the following steps:

    1. “Start with identifying any need for change.” What does your current process look like? Are you not making deadlines, or spending more money in one area of the business than you think you should be? Is a process putting more pressure on one department or member of your team? Also, ask, “What are current issues or current risks for the company?”

    2. Identify how one process impacts another. Is one process standing in the way of, or slowing the execution of another? Are there steps in the current process where you commonly encounter a roadblock? For example, is your client online ordering process straight forward, or does it frustrate the user enough that you are losing sales, or needing human interaction? Is a process presently slowing the efficiency of how your team works, and adding no value? Is there a step in the approval process that can be removed, for example?

    3. Ensure your managers are on board with any changes to process. A process change can be as small (but important) as implementing a strategy for fixing broken links on your website, or as big (and important) as adding a position to your team to alleviate one step in a bigger process. Get your team involved, especially managers to make sure they are in agreement, or don’t have a different or better idea for fixing any process issues.

    4. Set some process improvement objectives and goals. Commitment to a process change is paramount if you want to see a difference in efficiency, revenue, or any other aspect of your business. Setting those objectives and getting your team excited about the possibilities the change can bring will help in exploring your business’ optimal performance.

    Though a team may be open to change in the process, it is not always successful. According to John Kotter, writer for Business Harvard Review’s article “Leading Change: Why transformation efforts fail,” more often than not change fails. Not establishing a sense of urgency and momentum for change is often what leads to its failure. “Sometimes executives underestimate how hard it can be to drive people out of their comfort zones,” says Kotter.

    But the change doesn’t have to happen overnight. Set reasonable expectations, and accept that there might be a trial and error period; results may be better than you ever thought. Either way, there is nothing to lose—in the end, you will know your business better.

    Author: ChamberPlan.ca

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  • Start a New Decade with These 5 Noteworthy Lessons from Small Business Owners

    Start a New Decade with These 5 Noteworthy Lessons from Small Business Owners

    Entrepreneurs, in particular small business operators and owners, are not strangers to trial and error and misstep. What is important is what we learn and take away to fuel our next move. Here are a few lessons from small business owners to lead us into a new decade!

    Hiring Key People. Susan Guillory, President of Egg Marketing & Communications, and contributor to Forbes says finding success is easier when you have the right people on your team. She admits to designing her own logo when she started her company 13 years ago and that it was a big mistake. “I can tell you that this DIY strategy is not effective as your business grows,” she says. She encourages all business owners to, in the very least, find one person who can support you.

    Take action on new projects. Neal Schaffer is a social business coach and author of Maximize your Social. His advice is to push new projects forward. “Sometimes if means simply turning down things that we used to accept or deciding to simply unplug from other activities,” he shares. What does unplugging, or disengaging from usual practices look like for you and your business in 2020?

    Collect your own data. How do you examine your own customers’ behaviours? Their spending patterns? Their aversions? What questions do they frequently ask? No one knows your business better than you do. Or rather…no one should know your business better than you do. But we are not always great at tracking our own data—that is customer demographics, how they found you, their likes and dislikes, etc. For Larry Kim, founder of Wordstream and CEO of MobileMonkey he believes the key to success is to “fail slightly less often by using more data rather than gut feel in project planning phases…”

    How do you plan on gathering more of your own business’ data in 2020?

    Tune out the noise and follow your instinct. Instinct—we know it’s there, and yet, we don’t always listen. Sometimes it’s because there is A LOT of noise to break through, but, also, listening to our instincts actually takes practice. Not only is it tricky to pin down that initial feeling we had about a certain business move or hire, but to ignore the other pressures that exist in business environment or society in general can be difficult. Caroline Ghosn, co-founder and CEO of Levo League, says there are always warning signs. “As an entrepreneur, the latitude of failure and of success is directly correlated to people. I am growing more and more attentive to my first instincts, even if I can’t justify them, as they apply to people.”

    Keep it simple.

    That’s Neil Patel’s simple advice. He is an entrepreneur, investor, advisor and well-known blogger, with expertise in online metrics and analytics. He admits to having many of his start-ups fail. “Typically the failure wasn’t due to the idea. Instead the solution was complicated and hard to use.”

    Wishing you every success for your business ventures in 2020!

    Author: ChamberPlan.ca

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  • Local Marketing Tips: Benefits of Event Sponsorship

    Local Marketing Tips: Benefits of Event Sponsorship

    Sponsoring a local event — like a fun run or a festival — is a great way to boost exposure for your small business and connect directly with potential customers, while also contributing to your local community.

    To maximize the benefits of event sponsorship, you’ll want to do it right. Learn how hosting or sponsoring events can be an effective part of your local marketing plan and find out how to make the most of the event for your business.

    Sponsor events that align with your brand

    As with any marketing plan, efforts should be specifically tailored to your target audience. Sponsoring an event is no exception. The most important decision will be choosing the right event. For the partnership to have the most impact, it needs to be a good fit for your brand.

    Consider Lululemon. The athletic apparel giant hosts immensely popular running events in cities across Canada including Vancouver, Edmonton, and Toronto. More than just a running race, these are full-scale events often with entertainment, pop-up shops, food vendors and, of course, premium post-race swag and goodies. Co-sponsors include brands that appeal to Lululemon’s target demographic — mainly women between the ages of 25-40 — like Saje, a natural wellness retailer, or Flow alkaline water, which comes in fully recyclable packing.

    While any brand might jump at the chance to market itself to thousands of people riding the post-run adrenaline high, Lululemon and its sponsoring partners, as well as the vendors selling product on site, are aligned value-wise with a focus on health, overall wellness, and eco-consciousness.

    Not only is it in Lululemon’s best interests to ensure that sponsoring partners reflect their brand’s values, but sponsors also benefit from access to the perfect audience for their products. It’s a symbiotic relationship that works on all levels. The right partnership ensures that your brand makes the right impression with the right audience.

    Don’t feel obligated to say yes to every sponsorship request

    Be selective about the events that your business sponsors. It might be difficult to say no when someone knocks on your door, but realistically, both parties will get the most benefit by investing in partnerships that share a similar brand and audience.

    Having said that, it’s important to give back — even in a small way — to the local community that supports your business. You shouldn’t expect a huge ROI especially when supporting non-profit or charity events, but giving back and fostering goodwill in the greater community is incredibly important too.

    How to get involved in sponsoring local events

    So, what is actually expected of you as an event sponsor? Generally speaking, an event sponsor is a business or company that provides support, usually funding, to help with the planning and execution of an event in exchange for marketing exposure. Other ways to get involved may include contributing product (for a raffle or silent auction) or providing venue space to host the event. There are plenty of ways to lend your support to help get an event off the ground.

    And in return, there are many ways you can leverage the partnership to gain important exposure for your company. Depending on the event, maybe you can set up a booth onsite, deliver a presentation onstage, or hand out prizes. The best results will involve more than simply having your logo appear somewhere on the website.

    Promote the event on your social channels

    It will also be important for both your business and the event organizer to effectively market the event on all appropriate channels — to not only promote the partnership, but to also ensure the event is well attended.

    Don’t forget to post an event followup on social media. If your company installed a free furnace to a family in need, write a blog about it on your website. If you sponsored a charity gala by providing a silent auction item, post a photo with the recipient on Instagram. Consumers increasingly expect that businesses will be active in their community and give back in meaningful ways. People want to see those partnerships in action and see the real ways in which your business contributes to the betterment of the community.

    Event sponsorships provide value not only to the event organizers who rely on extra funds or gifts to make their event a success, but also to the sponsors who benefit from local marketing efforts and, if nothing else, some good community mojo. Get out there and work with local partners that reflect your brand’s values and make it a regular event! It will go a long way in securing your position as a business that is committed to contributing positively to the local community.

    Author: ChamberPlan.ca

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  • Wellness at Work

    Wellness at Work

    Supporting staff wellbeing in the workplace is the responsibility of every business owner. Priorities that come to mind include: paying competitive wages and offering comprehensive benefit plans, or encouraging career development opportunities through educational programming and training.

    But what about mental health? Here are some mental-health focused activities, resources and strategies that can be incorporated in an employee’s wellness program:

    Enlist the help of a corporate wellness provider

    As increasing research supports a correlation between healthy workplaces and increased productivity, higher engagement levels, and cost savings relating to reduced absenteeism and job turnover, the number of companies offering expert programming — wellness retreats, seminars, and even private health and medical services — is on the rise .

    For example, Well Street, a Toronto-based workplace health solutions provider, delivers onsite, customized wellness programs to companies nationwide. Services range from a flu prevention clinic to healthy eating seminars and keynote presentations on topics like stress and work-life balance. Flexible, customizable delivery options make it easy for businesses to provide quality wellness programming to their teams that is relevant and informative.

    Organize a meditation workshop

    In addition to helping achieve greater focus and mindfulness, which are helpful in today’s hectic, distraction-laden workplace, increasing research shows that there are many health benefits associated with the practice of meditation. From overall stress reduction to more successful management of physical and psychological disorders, there are a number of reasons why people are turning to meditation as a personal wellness solution.

    Modern + Mindful , a mobile meditation company in Calgary, has helped companies like Lululemon, Uber, and The Forzani Group with customized meditation workshops. Some of the benefits their clients attest to include reduced stress, pain, or depression, as well as improved sleep quality, and a boost in immune response to illness.

    Offer regular Mental Health First Aid training

    For years now it has been fairly commonplace to have a designated fire warden, safety officer, or first aid responder in the workplace. Gaining momentum in recent years is Mental Health First Aid (MHFA) training, which provides team members with the skills they need to respond to someone who may be either developing a mental health problem, experiencing the worsening of an existing mental health problem, or currently undergoing a mental health crisis.

    The Mental Health Commission of Canada offers Mental Health First Aid training courses nationwide where participants learn how to confidently interact with others about mental health issues. In addition to providing strategies used to successfully recognize, respond to, and guide someone who may be experiencing a mental health crisis, MHFA in the workplace helps break down mental health stigmas and increase awareness.

    Encourage and support opportunities for physical fitness

    Scientific evidence has long vouched for the positive health benefits of physical exercise on the body. From cancer prevention to reduced risk of cardiovascular disease and nearly everything in between, there is really nothing that exercise can’t help. Not surprisingly, evidence is mounting for the mental benefits of exercise , with positive results relating to mood enhancement, alleviation of depression, and reduction in anxiety symptoms.

    The demands of daily life have changed dramatically in the last hundred years or so, with much of our time spent on pursuits that are mentally challenging, but largely sedentary and desk-bound. It has become increasingly difficult for people to make exercise a priority in their day.

    Many corporate wellness programs are looking to change this mindset by offering options like corporate fitness discounts or flexible work schedules to allow employees to attend gym classes or go for a run during the day. It can be as simple as installing a bike rack to encourage staff to ride to work or offering weekly lunch-hour fitness classes in the conference room. Supporting fitness in the workplace is an important step in supporting physical and mental wellness at work.

    Pet therapy

    Allergies permitting, doggos in the workplace are increasingly popular, with some good research backing up the benefits . There’s just something about being greeted by a wagging tail that can completely turn your day around.

    Not only are pets in the workplace known to help reduce levels of the stress-causing hormone cortisol, their presence also tends to trigger workplace interactions that would not normally take place, contributing to a boost in morale and relationship building.

    Employers want their teams to do their best and be happy at work. Providing access to supportive tools and resources helps make this happen. In addition to implementing programs and initiatives, being a champion for mental health in the workplace is an important way to reduce stigma and encourage people to access help if they need it.

    Author: ChamberPlan.ca

    Read the original article here.

  • How to Choose a Business Structure: Sole Proprietorship, Partnership, or Corporation?

    How to Choose a Business Structure: Sole Proprietorship, Partnership, or Corporation?

    Whether you’re thinking about starting a side hustle for extra income or making the leap to becoming your own boss, there’s a lot to consider when starting a small business. One of the first decisions to make is the type of business structure you need. In Canada, your business can operate as a sole proprietorship, a partnership, or a corporation.

    There are pros and cons to each option, but important differences in terms of startup costs, liability, tax rates, and estate planning should be considered before making a decision. Understanding the key differences between proprietorship, partnership, and incorporation can help ensure your small business starts off on the right foot.

    Sole proprietorship

    In a sole proprietorship, one person operates a business without forming a partnership or corporation. Any income earned from the business is considered self-employment income and is taxed at personal income tax rates on the business owner’s personal income tax return.

    Benefits of a sole proprietorship:

    – Simple, inexpensive registration process

    – Fairly minimal reporting requirements include:

    – Annual personal tax return

    – Payroll remittances and filings for any employees

    – Can deduct losses from your personal income

    – Can deduct expenses including prorated amounts for office and vehicle costs

    – Proprietor controls all decision making and receives all profits

    Disadvantages of a sole proprietorship

    – As sole proprietor, you are personally liable for all debts and any other business liabilities — creditors may make claims against any business or personal assets to pay off debts

    – Fewer funding opportunities and may be more challenging to raise capital to help build and grow the business

    – Not easily transferable or inheritable in the event of the proprietor’s death

    Partnership

    Similar to a proprietorship, a partnership is unincorporated but two or more entities are partners in the business, and business decisions are agreed upon together. A partnership agreement will outline the terms of the partnership and how any disagreements or dissolution will be resolved. In the absence of such an agreement, provincial or territorial laws will determine the terms of the partnership.

    Benefits of a partnership

    – Partnerships enjoy many of the same advantages as a sole proprietorship including relatively low setup costs, expense deductions, minimal reporting requirements, and ability to deduct losses from personal income

    – A more experienced business partner can provide valuable guidance and mentorship to a less experienced business owner

    – Startup costs are shared among partners

    Disadvantages of a partnership

    – Consensus is required for all business decisions

    – Like a proprietorship, partnerships are subject to unlimited liability — all personal and business assets can be targeted by creditors

    – A partner’s liability does not end even after death or retirement for debts and obligations of the partnership that were incurred prior to the death or retirement

    Corporation

    Unlike a proprietorship or partnership, a corporation is a legal entity that is separate from its shareholders. As such, a corporation pays corporate income tax, which is calculated separately from the shareholders’ personal income tax.

    Benefits of a corporation

    – Shareholders are not personally liable for debts or obligations of the corporation

    – More government funding options to help build and grow your business

    – Can write off certain business expenses and may also benefit from additional tax advantages

    – A corporation exists in perpetuity and ownership is transferable

    Disadvantages of a corporation

    – Higher startup fees which may include legal fees for articles of incorporation, federal and provincial incorporation fees

    – Higher accounting fees for filing an annual corporate income tax return and any additional bookkeeping or tax planning consultancy

    – Additional reporting requirements include:

    – Corporate records which must be held for six years

    – An annual corporate income tax return including detailed financial statements

    – Payroll remittances and filings for any employees

    No matter which type of business structure you choose, some common rules apply. Firstly, there’s no escaping the Canada Revenue Agency. Whether you end up paying personal tax rates or corporate tax rates, tax happens! Also, if your revenue exceeds $30,000, you will need to register for GST/HST and track all sales tax paid and collected.

    Each business situation is unique and choosing between a sole proprietorship or a corporation can be a difficult decision. While tax savings, limited liability, and greater capital-raising opportunities make incorporating an appealing option, higher administrative costs, additional compliance burden, and more complex reporting requirements might lean in the favour of sole proprietorship particularly if your small business has a relatively low operating risk and a net income under $50,000.

    Consulting with an accountant and/or lawyer before launching your business is a wise choice and can save you money and frustration in the long haul. A good corporate lawyer and a professional accountant that specializes in tax planning services can be valuable members of your small business team.

    Author: ChamberPlan.ca

    Read the original article here.