Arbutus Management Consulting Ltd.
200, 4040 Bowness Rd NW T3B 3R7 Calgary, AB, Canada

Why You Should Take Your Time Hiring New Employees Don't make the mistake of hiring fast and firing slow. There are numerous articles about the advantages of "hiring slow and firing fast," but many companies do the exact opposite. During my career, I've seen managers hire employees as fast as possible to fill open positions. Usually, these employers were looking at only the short-term needs of their company. They had a sudden opening to fill or a project which needed to be d...one right away. The problem is that by addressing the immediate need, you might be hiring an employee that isn't a good fit long-term for your company. The notion that anyone is better than no one doesn't always work out in the company's favour. Once you have the employee, it can be difficult to let them go. You hire someone for an immediate need, but they don't fit with your company you then hold onto them because replacing them is difficult, confronting, expensive or embarrassing. READ MORE: https://www.arbutusmc.com/category/blog/

Perfection vs. Excellence How good is good enough? Over my career, I’ve dealt with many perfectionists, business owners or managers that demanded that each employee perform every task to perfection. This unrealistic drive for perfection created problems for the employees and cost the company time and money.... The pursuit of excellence is a good way to challenge yourself to do better, to continually improve while perfectionism is an obsessive pursuit of the unattainable. One of the problems with perfectionism is that it is subjective. One person’s perfect result can be another’s blemished outcome. Perfection is a personal opinion; it is not something that can be reached.

Your business and COVID-19 Are you concerned that your business wont make it through the pandemic? Like many other small business owners, COVID-19 has thrown a wrench in my business plans. I finished my MBA in March just as the COVID-19 lockdown was starting. I planned to ramp my business back up after a brief break from studying. Unfortunately, COVID-19 hit, and everything changed.... COVID-19 had less of an impact on my business than many others. My business was in the start-up stage, where I had low overhead and no employees. I was able to put my business on the back burner while I figured out to do next. I know this story sounds familiar to many business owners. Read More: https://www.arbutusmc.com///10/your-business-and-covid-19/

Use the right legal entity for your business. In Canada, you have three basic types of business entities: sole proprietor, partnership and incorporation. Each has advantages and disadvantages; Sole Proprietor:... A sole proprietor is the easiest and cheapest form of business. There is no required documentation or registration as there isnt a business entity to set up. It is an individual acting as a business. You can set up a business account at a bank and operate under a trading name. The downside is that you are personally responsible for any liabilities (CPP, EI, other employee deductions, lawsuits) the business incurs, and all revenue you earn is taxed directly to you. Read More: https://www.arbutusmc.com//use-the-right-legal-entity-for/

Stress and the boiled frog How stress affects you and your business Stress is a significant issue in any business. One of the problems with stress is that it often increases over time without you noticing it. Stress is like the story of the boiled frog. If you put the frog in boiling water, it will immediately hop out, but if you turn the heat up gradually, eventually the frog will be boiled. Like the boiled frog, stress increases without us noticing until it is too late. Inc...reasing stress can have adverse impacts on your health, your business, your employees and your customers. READ MORE: https://www.arbutusmc.com///25/stress-and-the-boiled-frog/

Why You Should Take Your Time Hiring New Employees Dont make the mistake of hiring fast and firing slow. There are numerous articles about the advantages of "hiring slow and firing fast," but many companies do the exact opposite. During my career, Ive seen managers hire employees as fast as possible to fill open positions. Usually, these employers were looking at only the short-term needs of their company. They had a sudden opening to fill or a project which needed to be d...one right away. The problem is that by addressing the immediate need, you might be hiring an employee that isnt a good fit long-term for your company. The notion that anyone is better than no one doesnt always work out in the companys favour. Once you have the employee, it can be difficult to let them go. You hire someone for an immediate need, but they dont fit with your company you then hold onto them because replacing them is difficult, confronting, expensive or embarrassing. READ MORE: https://www.arbutusmc.com/category/blog/

Perfection vs. Excellence How good is good enough? Over my career, Ive dealt with many perfectionists, business owners or managers that demanded that each employee perform every task to perfection. This unrealistic drive for perfection created problems for the employees and cost the company time and money.... The pursuit of excellence is a good way to challenge yourself to do better, to continually improve while perfectionism is an obsessive pursuit of the unattainable. One of the problems with perfectionism is that it is subjective. One persons perfect result can be anothers blemished outcome. Perfection is a personal opinion; it is not something that can be reached.

The Life (and Death) Cycle of Small Business Start-up, growth, plateau, (and often decline) Entrepreneurs are often experts in their field. An entrepreneur has an idea or sees an opportunity, and starts a business. If their plan is successful, their business grows and matures into a growing concern. Over the years Ive seen many small companies go through the cycle of start-up, growth, plateau, and often decline. Not all small companies will experience this cycle, but many of... them do. Start-up Often the most difficult stage of any business is the start-up cycle. Taking that original idea or opportunity and turning it into a business is a challenging step. The entrepreneur is often working on their own and handling all of the activities in the company. These are the most stressful times for the new entrepreneur; they are spending a great deal of time, effort and money to get their business without any certainty of success. Without a proper business plan, this step is even more difficult. READ MORE: https://www.arbutusmc.com//the-life-and-death-cycle-of-sm/

Reinforce Success When to retire your product or service New products enter the market and old products leave the market every year. Business owners face the difficult choice of knowing when to put more resources into their existing product and when to cut their losses and retire a product.... The choice can be especially difficult when the business owners have an emotional attachment to their product. It might be that this product was the one that got their company going and its hard to let it go. Henry Ford faced this when the Model A replaced the Model T. The market for cars had moved on from a basic, reliable vehicle (the Model T) to sophisticated vehicles which were available from Fords competitors. However, when the profit margin declines on a previously profitable product or service; the business owner will need to decide on its future. READ MORE: https://www.arbutusmc.com/2019/02/28/reinforce-success/

Can your new business make a profit? Are you starting a business or a hobby? So youve decided to start a business, the first question to ask is, can I make a profit? Entrepreneurs dont always ask this question, but they should. The purpose of a business is to increase shareholder value (make a profit), while the purpose of a hobby is to enrich our lives. Hobbies are great. Many people have turned their hobby into a viable business and may be a good place to start.... Every year there are approximately 150,000 new businesses started in Canada. Of these businesses, only 51 % will still be in business in five years. To make it to the five-year mark, your business needs to make more money than it spends (a profit) over that time. Many businesses will start with a loss, but over time will start to make money as they grow. In Canada, the Canada Revenue Agency (CRA) uses the following as a guide to determine if you have a business or a hobby. If the CRA determines that your new business is a hobby, they will restrict the amount and type of expenses you can deduct on your taxes. READ MORE: https://www.arbutusmc.com//can-your-new-business-make-a-p/

Get Professional Advice When Needed When you need to seek professional advice Over time most businesses will run into problems that they will struggle to resolv...e. Their business will run into a situation where they will need expert help. It might be a business adviser, mentor, lawyer, accountant, financial adviser, banker or insurer that you need. It will depend on the circumstances of the issue at hand. Ive seen many businesses struggle with a problem that could be quickly fixed by speaking to the right professional. Business owners can be so close to the issue that they cant see the forest for the trees. Sometimes this is due to the expense or not wanting to admit they need help with their business. Regardless of the reason, they could save themselves a great deal of stress and money by accessing the right professional at the right time. Business owners and managers need to be experts at many things, but they cant be experts at everything and that is where a professional can help out. READ MORE: https://www.arbutusmc.com//get-professional-advice-when-n/

No purchase order no work Anyone who has worked in construction or for a service company can tell you that at some point the client will ask you to do work that isnt on their purchase order. A purchase order (PO) is a legally binding document from a buyer to a seller for goods or services, (when accepted by the seller). The question then becomes should you do what the customer wants? Will the customer honour the additional charges if they arent listed on the PO? The PO will... normally state what goods or services are to being provided, the timeline for their delivery and any additional requirements. If the request is for a small change that you can easily accommodate without spending much money or time, then it makes sense to accept the request. In this case, you build goodwill with the customer for very little cost. However, if the client wants a significant change that is going to impact the time or cost of the project, then you should carefully consider whether to do the change or not. If you proceed with the change without a new PO or change order (CO), the client may not pay you for your work. The customer may not be legally obligated to pay you if you do the work without proper authorisation (a PO or CO). READ MORE: https://www.arbutusmc.com//12/13/no-purchase-order-no-work/

KISS Keep It Simple Silly Reduce your stress with the KISS principle. Ive been a big fan of the KISS principle for most of my career. The KISS principle (Keep It Simple Silly) is vital for small businesses. Small business owners already have too much to do. Adding unneeded complexity to your business, products or services will reduce your ability to manage your company and make a profit.... Entrepreneurs are busy, creative people with a lot on their plate. Using the KISS principle can help you reduce clutter, clamour, and distractions while helping you focus on what you do best, create your business. By keeping things simple, you free up your time from non-productive activities. The idea is to focus your efforts like a laser on your business and not on things that dont make a difference for your company. READ MORE: https://lnkd.in/eeT36f8

Reinforce Success When to retire your product or service New products enter the market and old products leave the market every year. Business owners face the difficult choice of knowing when to put more resources into their existing product and when to cut their losses and retire a product.... The choice can be especially difficult when the business owners have an emotional attachment to their product. It might be that this product was the one that got their company going and its hard to let it go. Henry Ford faced this when the Model A replaced the Model T. The market for cars had moved on from a basic, reliable vehicle (the Model T) to sophisticated vehicles which were available from Fords competitors. However, when the profit margin declines on a previously profitable product or service; the business owner will need to decide on its future. READ MORE: https://www.arbutusmc.com/2019/02/28/reinforce-success/

Reinforce Success New products enter the market and old products leave the market every year. Business owners face the difficult choice of knowing when to put more resources into their existing product and when to cut their losses and retire a product. The choice can be especially difficult when the business owners have an emotional attachment to their product. It might be that this product was the one that got their company going and its hard to let it go. Henry Ford faced ...this when the Model A replaced the Model T. The market for cars had moved on from a basic, reliable vehicle (the Model T) to sophisticated vehicles which were available from Fords competitors. However, when the profit margin declines on a previously profitable product or service; the business owner will need to decide on its future. READ MORE: https://www.arbutusmc.com/2019/02/28/reinforce-success/

Danger, Iceberg Ahead! Like an iceberg, what you cant see is whats dangerous to your business. There are three areas of business knowledge: what you know and what you dont know (20% of knowledge), and what you dont know that you dont know is the part of the iceberg under water (the remaining 80% ) which can sink (like the Titanic) your business.... Most business owners and managers are experts in their business; they have a good idea of what they know and dont know; this is the top 20% of the iceberg. The 80% below the surface is where the danger to your business lurks. READ MORE: https://www.arbutusmc.com/2019/03/31/danger-iceberg-ahead/

Announcing Arbutus Management Consulting Ltd. ______________________________________________ I am very excited to announce our new management consulting company, Arbutus Management Consulting Ltd. ... At Arbutus Management Consulting, Ltd, we are driven to achieve the best possible outcome on behalf of every client. With decades of experience and superior business experience, we can help you meet your goals. We use a thoughtful approach and extensive management, accounting and web design knowledge to craft the strongest possible solutions for clients benefits. At Arbutus Management Consulting when you have a problem, we are the solution. To discuss the unique circumstances of your business, contact Arbutus Management Consulting, Ltd, online or call as soon as possible. For more information check www.arbutusmc.com. ______________________________________________ Patrick Hone, BBA, MBA (In Progress) Principal Consultant, President Arbutus Management Consulting Ltd. 200, 4040 Bowness Road NW Calgary, AB, T3G 3R7 +403-404-6791 www.arbutusmc.com