There's a lot to think about when selling a business. Are you ready to sell your business? How much is your business worth? Have you developed an exit strategy? Are you ready to prepare your successor to take over? The questions go on and on, but with the right guidance and proper planning, you can be on your way to a successful business ownership transfer.
Bernie and Fyvie Gunn founded Gunn's Bakery in 1937 and recently transferred their business ownership to its new owner, Jon Hochman. Hochman gained ownership at the beginning of January, but has worked closely with the Gunn brothers for just over a year in preparation for his takeover.
"We've come to the realization that nothing lasts forever, so we wanted to pass it on to somebody that we feel is going to have the same care for all our traditions that we have. And I think we found him," said Fyvie, who's spent his entire life working in a bakery, in a recent interview with CBC News Winnipeg.
"It's a funny feeling, no question about it," added Bernie, in the same CBC News Winnipeg interview. "We've been here for so long, though, and the change has been gradual over the years."
We sat down with Hochman, who's been working in the restaurant industry for 15 years and was past owner of Sherbrooke Street Deli, for a Q&A on his new journey as owner of Gunn's Bakery.
Q&A with Jon Hochman, new owner of Gunn's Bakery
When did you realize you had an entrepreneurial spirit?
I remember as a young boy making little concepts for deli's and restaurants. So I think there has always been a entrepreneurial passion in me as well as a deep love for food and food service.
What is one thing you learnt in your first week of business at Gunn’s Bakery?
Employees names. There are a lot of new faces working hard for the business. The least I can do is learn some names.
During the transition into ownership, what valuable lessons did Bernie and Fyvie share with you?
They have taught me so much that its difficult to name just one. I really enjoy watching them interact with customers. These aren't just customers, they are family.
Do you have any advice for other entrepreneurs thinking about buying a pre-existing business?
Be very thorough. Take your time to understand the ins and outs of the business.
What's your favourite thing to eat at Gunn’s Bakery?
What’s the key to a good bagel?
For me, it's the texture. There are many different kinds of bagels out there but for me I always judge on the texture.
For more information of transferring business ownership, visit BDC for resources, articles and tools to help your business grow.
Wednesday (Oct. 24) is Civic Election Day, and with eight candidates for mayor, 52 for council and more than 100 for various city school boards, Winnipeggers have a lot of important decisions to make about where our city is headed and who is going to lead us there.
Throughout the campaign the Chamber has engaged directly with several candidates for mayor and council to share the concerns of our members and the business community in general about issues like development, business taxes, permit processing times and the city’s transportation network. Our Board of Directors also had the opportunity to meet with the two leading contenders for mayor to hear their vision for Winnipeg.
To help spark conversations about key election issues, the Chamber hosted a half-day Livable Cities conference in September that featured presentations from some of the city’s leading thinkers in urban planning, place making, architecture and development, along with former Mayor Glen Murray announcing his return to Winnipeg. The event was capped off by a sold-out luncheon featuring world-renowned urban design expert Jan Gehl.
Many of the ideas discussed during the Livable Cities event were reflected in the Chamber’s response to the review of OurWinnipeg, the city’s master planning document, which was submitted during the election campaign and distributed to candidates.
This document lays out several concrete ideas for City Hall to increase density, make infill development easier, improve the mobility of people and goods, work more closely with the capital region and measure the progress we’re making toward development goals. Chamber President and CEO Loren Remillard shared some of those proposals in an editorial published in the Winnipeg Free Press on October 13.
In addition to the usual selections for city council and school board, Winnipeggers will also see a plebiscite question on the ballot for the first time in 30 years: “Do you support the opening of Portage and Main to pedestrian crossings?”
As a longtime proponent of the economic benefits of creating a livelier, more dynamic downtown, the Chamber has voiced its support for the #TeamOpen movement and talked about the business case for reopening the intersection.
But now the opportunity for input is yours. Polls will be open from 8 am to 8 pm on Wednesday and we encourage everyone to exercise their right to help determine Winnipeg’s future.
For analysis of civic election results, you can hear Winnipeg Chamber of Commerce President & CEO Loren Remillard on CTV Winnipeg between 8 pm and 10 pm, and Chamber Director of Policy Colin Fast on CBC Manitoba’s radio, online and TV coverage between 8 pm and 11:30 pm.
Director of Policy
by: Paul K. Grower
The Personal Information Protection and Electronic Documents Act’s (PIPEDA) new Breach Notification Rules will come into force on November 1, 2018. This article provides a brief synopsis of what these rules entail, but it should not be construed as legal advice. Members of the Winnipeg Chamber of Commerce are encouraged to speak with legal counsel to better understand how the Rules will affect their business.
In order for the Rules to apply, there must be a loss of, unauthorized access to or unauthorized disclosure of personal information that is under the control of a member (in other words, a “breach”).
It is important to note that responsibility for the reports/notifications outlined below will lie with the member if the member controls the personal information. However, if a breach occurs at, for example, an arm’s length storage facility hired by the member to store personal information, it will be BOTH the member’s responsibility and the storage facility’s responsibility to comply with the Rules.
The Rules outline that if it is reasonable in the circumstances to believe that the breach creates a real risk of significant harm to an individual, the member (and if applicable, any other third party) is then obligated, as soon as it is feasible to do so, to:
In the report filed with the Privacy Commissioner of Canada, the member must (to the extent that the member knows):
It is expected that this report will be updated as information is further gathered/determined.
In the notification provided to the individual, the member must (to the extent that the member knows):
The goal of the notification to the individual is to provide sufficient information to allow the individual to understand the significance to them of the breach, such that they can take steps, if any are possible, to reduce the risk of harm.
Also, it is expected that the individuals affected will be directly contacted by the member (phone, email, mail, etc.), subject to exceptions of harm to the individual and/or hardship to the member and/or lack of contact information. If any of the exceptions apply, indirect notification—via public communications (e.g. media, website, etc.)—will need to be utilized.
The legislation specifies that “significant harm” includes bodily harm, humiliation, damage to reputation or relationships, loss of employment, business or professional opportunities, financial loss, identity theft, negative effects on the credit record, and damage to or loss of property.
In determining whether there is a “real risk” of such harm, the sensitivity of the information and the probability that it will be misused need to be considered.
It is important to note that if a breach occurs—and it is determined by the member that it does NOT create a real risk of significant harm to an individual—the member must still maintain a record of the breach for at least two (2) years thereafter. The purpose for retaining these records is to allow the Privacy Commissioner to verify a member’s compliance with the Rules. Therefore, if a breach is not reported to the Privacy Commissioner, the information that would have been provided to the Privacy Commissioner, if it had been reported, must be maintained.
Most importantly, these Rules provide for fines of up to $100,000 if an organization knowingly violates their obligations.
On October 17, Canada became the first G7 country to fully legalize recreational cannabis. Is your business ready?
Here are 5 impacts that the legalization of cannabis has on the workplace:
1. Safety concerns
Despite cannabis legalization, adult cannabis use is not new. However, employers are concerned that with legalization a subsequent increased use will impact the workplace. Safety concerns include employees operating motor vehicles and employees using heavy machinery while under the influence of cannabis.
2. Alcohol, drug policies and testing
Cannabis is already the most commonly encountered substance in workplace drug testing, but with legalization, its use is expected to grow. Employers have the right to regulate cannabis use at work, and employees have the right to a safe workplace. It’s important to communicate any changes made to alcohol and drug policies, and focus on treatment and recovery during disciplinary actions.
3. Drug use or dependence
Due to legalization, experts expect a rise in recreational cannabis use. Effects of cannabis on individuals vary widely depending on numerous factors, so it’s important to educate employees on its effects and any new workplace policies.
4. Medicinal cannabis use
Because many people use cannabis for medical reasons, it’s important to clearly outline your workplace policies on cannabis while being cognisant of those who require cannabis to treat or relieve the symptoms of a disability. As an employer, you need to accommodate your employees’ needs and that may include the use of medicinal cannabis.
5. Problematic drug use or dependence
Just because cannabis is legal, does not mean it’s a license for poor behaviour. Cannabis use can become problematic for many reasons, such as when workplace performance and attendance decreases. Employers should prepare for a potential rise in problematic cannabis use and dependence in the workplace.
Introducing the Accessible Customer Service standard: a part of the Accessibility for Manitobans Act
Written by: CPHR Manitoba
When you read the term “barrier”, what comes to mind?
[Take a moment to close your eyes and think about what a barrier means to you]
How about “types of barriers” – including negative, presumable or judgmental attitudes; lack of communication; physical challenges; technological issues; or systematic failures?
[Take another moment to think while observing your surroundings]
Barriers are all around us and affect all of us. Some individuals may be stronger communicators but may not understand certain advances in technology; others may be physically able to walk into a room but are held back by a negative attitude, filled with presumptions and judgements, that prevents them from meeting others.
Now take a moment to think, “what if I had a disability” – could you overcome those barriers the same way you would normally approach them? It depends – are you visually-impaired, suffer from a mental health condition, or physically disabled? There are many factors at play here, in this thought-process alone, and unfortunately over 200,000 Manitobans are living with some form of a disability and facing different types of barriers every single day.
The fact is: we need to remove the barriers and create accessibility for all Manitobans.
The Accessibility for Manitobans Act (AMA) provides a clear and proactive process for the identification, prevention and removal of barriers with respect to five key pillars, customer service, employment, information and communications, transportation and the built environment.
The first standard to be implemented under AMA is the Accessible Customer Service standard. This standard is built on the requirements of the Human Rights Code and addresses business practices and training needed to provide better customer service for people with disabilities.
Fred Dugdale, Board Treasurer at the Manitoba League of Persons with Disabilities and Manitoba Brain Injury Association who suffers from a Traumatic Brain Injury, says that the hardest barrier to overcome is attitude.
“When learning about the Accessibility for Manitobans Act and reviewing your current workplace environment, you have to be realistic and find a way where this works for everyone. People that can work, will work – you just need to find a middle ground where your measures, practices and requirements to identify, prevent and remove barriers are a win-win for everyone,” says Dugdale. “The investment you make to remove barriers will bring long-term benefits and cater to all colleagues and clients in your workplace.”
The deadlines for compliance is structured under a three-year period – Manitoba Government (November 2016), large public sector organizations (November 2017), and companies/organizations in the public, private and not-for-profit sectors (November 2018).
To assist you in the review and development of your workplace policies and practices that will welcome and serve everyone, CPHR Manitoba and the Manitoba League of Persons with Disabilities have partnered to present the Accessibility for Manitobans Act – First of Five Standards: The Customer Service Standard workshop.
The workshop will cover an overview of the AMA legislation with a focus on the Customer Service Standard, review and compare the AMA with the Manitoba Human Rights Code, identify your organizational responsibilities and learn the key principles to offering accessible customer service in your workplace.
The Accessibility for Manitobans Act – First of Five Standards: The Customer Service Standard workshop takes place on Tuesday, November 13, from 8:30 a.m. – noon at the Viscount Gort Hotel in Winnipeg. Registration fees are $150/CPHR Manitoba members and $200/non-members. To register, visit cphrmb.ca. Registration deadline is November 8.
Have you been in business for a few years and are looking to expand your business? Do you want practical advice to reach the next level in your journey? Are you looking for an opportunity to strengthen your knowledge, acquire new tools, and expand your network? Then we have a great event for you!
The WCC has collaborated with BDC to bring their WE Talk Business Boot Camp to Winnipeg on November 6, 2018 at the Winnipeg Art Gallery.
These free events, led by BDC, run across Canada with a simple purpose: to bring together women entrepreneurs (WE) who want to talk about business and grow their business.
This one-day intensive program, created by women entrepreneurs, for women entrepreneurs, offers practical advice on leadership, money, sales, marketing, and human resources - all with a focus on growth.
The Boot Camps are also hosted by two extraordinary professionals who are passionate about helping women entrepreneurs advance - Janice McDonald (@janicemcd), an award-winning entrepreneur also President of the Beacon Agency and Clare Beckton (@ownit_clare), Executive in residence at the Centre for Research and Education on Women and Work at Carleton University.
BDC is bringing together key players such as the Chartered Professional Accountants and Export Development Canada to help facilitate the day’s content. And, BDC is working closely with regional organizations like WCC, to plan the day so that women entrepreneurs can focus on issues and opportunities that are relevant to them.
As Canada’s only bank dedicated to entrepreneurs, BDC has made it their mission to support the growth and success of female entrepreneurs. Statistics tell us that only 16% of small and medium-sized businesses are majority women-owned. BDC wants to change that and has already started through some of the following initiatives:
Do not wait! The event is free, and seats are limited. Please share this event with any women in your network that you think would benefit or register today if you are ready to take your business to the next stage.
BDC’s WE Talk Business Boot Camp
Date: November 6, 2018
Time: 8 a.m. - 5 p.m.
Location: Winnipeg Art Gallery
300 Memorial Boulevard
Attendees must register HERE by October 26th.
Manitoba Race to Reduce has announced their 2018 award categories. The awards, held in April each year, have been expanded this year to recognize even more participant accomplishments. New for 2018, there will an application process for two of the categories.
Action and Innovation Award
The Action and Innovation Award recognizes participants who have demonstrated leadership and commitment to saving energy through their actions and/or innovations. Innovation examples include new ideas, methods, behaviors, plans, projects and collaborations.
Building Commitment Award
The Building Commitment Award recognizes landlords, tenants and employees who have pledged to reduce energy use in their offices and throughout their participating building. This fun and interactive application is designed for tenants and landlords to submit together.
Building Performance Awards
Building Performance Awards recognize energy efficiency accomplishments and are based on the energy consumption data taken from participants’ ENERGY STAR Portfolio Manager account. There is no application required to be eligible for the following 2018 Building Performance Awards.
Manitoba Race to Reduce is a unique energy reduction challenge that encourages collaboration between commercial office building landlords tenants and employees to improve energy efficiency in their buildings reducing greenhouse gas emissions and costs.
1. What’s your favourite social media channel and why?
Kyle (Vantage Studios Inc.): It changes in every scenario. In my personal life, until something else emerges and displaces it, I like the curated visual feed of Instagram. It’s filled with friends, family, colleagues and my art/design interests in both still image and video. I like that it gives me the sense of maintaining connections with people who are a part of my life. In marketing of businesses it changes based on industry regulations, customer segments, value proposition and type of customer relationship. Some channels are better than others to grow and target key audience segments, but relevance and engagement are more important in most cases.
Susie (SPARKER Strategy Group): It really depends what your goals are. Each channel has unique benefits depending on the company goals. However, for business that is looking to invest in one channel my recommendation would be for Instagram. There are tremendous opportunities for images and video to sell, as well as advertising. The e-commerce growth for brands on Instagram will only grow.
Adam (Dooley PR): I like different channels for different reasons. They each have unique value propositions and uses. My personal favourite as a user would be Instagram (though I tend to lurk more than I post). It tends to be mostly positive and let's individuals and brands express themselves in highly creative ways. The world doesn't need any more outrage and drama.
I've also grown fonder of LinkedIn over the past two years. For a long time, many people used LinkedIn as just an online resume, but it is doing a much better job of improving its relevancy to a daily business audience. We've won clients on LinkedIn and I use it regularly to build our business and my personal network.
2. Which company do you admire for their branding/marketing and why? #BrandGoals
3. What is the biggest marketing trend we’ll see in 2019?
Kyle: Adoption of existing popular technology to enhance customer acquisition and growth.
Integration of tech can optimize investments or make workflows more efficient, re-allocating effort and budgets to higher value activities, ultimately enabling a company to deliver higher value to their customers, extend their reach or enhance engagement. All of these moves can influence customer attraction, retention and referrals enhanced also by traditional word of mouth and online reviews.
Adam: Automation will continue to steamroll through our lives and the marketing and media world will be no different. In news media, we will see traditional regional news operations continue to shrink while a few massive, national and international players will expand across new geographies (ie. New York Times, Economist, Guardian, BBC). And more media organizations will turn to automated news gathering and writing systems to generate news. We'll also see continued proliferation of hyper-niche online publications focused on a single topic or audience. In marketing, I expect to continue to see local companies relying more and more on global advertising platforms such as Facebook and Google. Automated marketing systems will continue to get better and smarter, allowing even small businesses to target potential leads with greater accuracy. All of this will require small businesses to become even more tech savvy.
In the world of business and sales, nothing is more effective than one-on-one networking - which is why three times a year we host After Business Mixers, bringing together 40+ exhibitors and 250+ attendees.
As an exhibitor, you'll make new connections, promote your business and generate quality leads.
But before that, you need to get people to stop at your exhibitor booth.
To help you prepare for our first Mixer this season on Sept. 26 at Manitoba Institute of Trades and Technology, we've put together 7 tips to help you drive traffic to your booth:
1. Do something fun
Drive traffic to your booth with something fun and interactive. Who doesn’t enjoy a giant spinning wheel or even a simple beanbag toss? How about a hockey skill challenge or a fun quiz? Games and contests are a great way to break the ice with attendees and opens up a door to talk about your business and what you have to offer them.
2. Give away free stuff
People love free stuff. Host a draw for tickets to the next big sporting event, or give away a tablet. Also, don’t forget to invest in quality and practical company swag. Think about who is coming to the event. What is something that will be useful to them? Remember, your giveaways at a business mixer (e.g. a tote bag to carry promotional items) may be different from something you’d hand out to runners at a marathon (e.g. a water bottle to satisfy their thirst).
3. Know your key messages
It’s important to practice, memorize and master your key messages. You may only have a few minutes to draw in attendees who are making their way through each booth. You’ll be competing with a number of other businesses and it’s important to get your message across right away. You’ll need to tell them about your business and how you can make their life easier in just a few impactful sentences.
4. Promote your booth
Before the event even takes place, spread the word about your booth and the After Business Mixer. The bigger the crowd, the better! Draw your clients and network in by offering something exclusive to the tradeshow attendees, such as an exclusive discount. Don’t forget to mention the cool activities at your booth and prizes to be won! Send personal invitations to those you want to attend, or spread your reach by sharing our event poster on social media.
5. Get out there
Stock up on business cards. You’ll want a handful on you to not only enter the contests, but also to hand out to different Chamber members you’ll meet. It’s important to take the opportunity to get out there and introduce yourself to the other booths. When collecting business cards, take notes on their cards to remind yourself later about your conversations and how your businesses can work together.
6. Set goals
Just like any good strategy, you need clear and measurable objectives. Are you at the Mixer to find two new clients? Or are you looking for a mentor or perhaps a specific service provider? Before the event, review the exhibitors’ list and make note of who you want to talk to and prepare some questions for them.
Now for the most important tip – don’t forget to follow-up with your leads as soon as possible. Review the business cards you collected and reach out to them, especially while you’re still fresh in their memory. Send a friendly email and schedule a follow-up meeting to continue the conversation you started.
Our After Business Mixers are fun and social mini-trade shows where you can grow your business, collect new leads and build valuable business relationships. The event is free to attend. All exhibitors and guests are treated to delicious appetizers and drinks while they visit the 30+ interactive booths.
After Business Mixer
Wednesday, September 26
5:00 PM - 7:00 PM
Manitoba Institute of Trades and Technology (MITT)
130 Henlow Bay
Exhibitor rate: $175 +GST
For additional questions, you can reach our Director of Events, Elizabeth Cron, at 204-944-3308 or by email email@example.com.
This article was originally published on LinkedIn by Brad Potter, Cloud Solution Executive at ISM Canada (an IBM company
The fastest growing SMBs have embraced the Cloud as a method to address four main IT Challenges:
1.High capital costs;
3.Scalability as the business grows, and;
4.Innovation as business matures.
Results are positive. Surveys indicate:
Organizations are finding Cloud computing provides immediate access to the tools needed to digitally transform their business and improve customer experience.
But many businesses are still reluctant to make the move to the Cloud despite these advantages. The reluctance to migrate is particularly evident in Western Canada, where we’ve seen cloud adoption be approximately 25 per cent less than the rest of Canada.
So, what’s holding you back?
Security is cited as the number one objection to Cloud for 49 per cent of organizations (IDC 2017). Should you be concerned? The security investments made by the major Cloud providers is significant and has created cloud platforms in which security breaches, due to vendor error are rare. In fact, the Cloud has proven to be more secure than most non-cloud environments.
A key detractor to cloud for customers in Western Canada is the worry that network connectivity will be insufficient to provide the type of response time and security that end users are accustomed to. With the major public Cloud providers located in Eastern Canada, it is understandable that network connectivity options should be well understood before proceeding. Several networking options exist to address the need for high bandwidth, security and connectivity to Cloud, including solutions based in Saskatchewan.
Service availability, including response time and user downtime, is a concern due to the perceived loss of control over the compute environment. To mitigate this concern, public Cloud vendors provide service levels for all their products with financial credits provided if they are not achieved. The robust engineering of the Cloud environment is such that high availability is consistently achieved. In a worst-case scenario, organizations can further protect critical applications by configuring them to automatically failover to alternate data centers should a Cloud data center go offline.
There is a general perception that services in the Cloud are more expensive than in the non-Cloud environment. This is often raised when the comparison between Cloud and non-Cloud platforms does not accurately reflect all the costs that make up the non-Cloud infrastructure.
With all the non-Cloud costs in the table above considered, there’s an almost 50 per cent reduction in support and maintenance costs when the Cloud is chosen. When doing a financial comparison or Cloud ROI, it’s also important to take into account the increased revenue that will take place as you drive your digital transformation results using Cloud services.
It can seem daunting when trying to decide how to get started. The best place to start often with consulting a trusted partner with experience in Cloud migrations. Cloud migration require skill and experience; often organizations who tackle this transition by themselves find it difficult and time consuming. If you want to know how to get started but aren’t sure where to begin, reach out and let’s grab a coffee. We can discuss your particular needs and help define a path forward to your organization to embrace all that the Cloud has to offer.