Q. Don writes,

I’d like to open my own business and am wondering what general tips you could offer.  Thanks.

A. Dear Don,

First, I’d consult with your local Chamber of Commerce and/or Business Development Bank of Canada (BDC.ca) as these two organizations might advise you on the local business needs in the area.

Second, I’d suggest you take a walk through the area you are looking to locate your business in.  This will give you a general idea about the type of customers you’ll be dealing with, as well as the local businesses you’ll be competing against or working with.

Lastly, I think some market research is in order.  Something as basic as a questionnaire or simply talking with locals on the street about your business would qualify.  And while you’ll need to get a marketing plan together eventually, don’t confuse market research with marketing research. Market research identifies a market’s needs whereas, the goal of marketing research is to identify and assess how changing elements of your marketing strategies impact customer behavior.

---

Q. Lily writes, 

Until recently, I worked for an online home furnishing business, and after extensively researching a particular line of furniture we carried, I decided to focus solely on this particular line and to sell it in person as opposed to online. Strangely, now that I have moved from an online business to brick and mortar, this line of furniture doesn’t seem to be as attractive to customers. Any advice?

A. Dear Lily, 

There is quite a significant difference between buying a product online and buying it in person.  Shifting from online to traditional retail is like swimming against the current. In some cases, the two approaches have two different segments of customers. That said, my first suggestion is to maintain your business online and utilize it as a marketing tool for your store, (or what I would call, the showroom). People who shop online have better access to a plethora of product information prior to hitting the purchase button and given that there is no human element to the sale, where products are similar or identical, the sale will come down to price point.  Someone shopping in a store however, even if they have researched the purchase well in advance, is still persuadable via the provision of a good shopping experience and accessible/adequate information (including good customer service, a pleasing physical environment, etc.). Given this, what I should suggest you do in your store is focus more attention on merchandising making sure that all the features of the products are clearly presented and that each item is purposely priced.  This will help to maximize the physical shopping experience to make it as efficient and customer-centric as possible.

---

Q. John writes, 

I have been running my own gift shop for two and a half years now and despite my best efforts, I simply cannot afford to hire any staff and I am literally not seeing my children during the week because of it.  If this doesn’t change, I’ll have to give up my entrepreneurial dream and go back to a 9-5 job to support my family.  Any advice you can offer would be helpful.

A. Dear John,

If your business has survived for two and a half years, I would say that you’re selling the right product in the right place, however, there are a few things I would suggest you look into in order to increase revenue.  Consider renegotiating your lease with your landlord to reduce your monthly expenditures. For example, your landlord maybe open to consolidating some of your utilities with the rent. You could also look at increasing the prices of some of your more exotic products.  Visit your competitors and confirm which items you stock that they don’t.  Those “hard to find” items can potentially fetch a higher price.  Finding an investor/partner to share your business can also be a wise endeavor. Lastly, many college/university students are required to complete work experience that is related to their field of study, and in many cases, their efforts would come at no cost to you with the various government grants supporting the programs.  I would advise you to contact the post-secondary institutions in your area for further information on such programs. 

---

Q. Gabriel writes,

I am a chiropractor and I am struggling to find enough clients to sustain my practice. I am currently working with a supervisor in a small town in Ontario.  She grew up here and has been the town's sole chiropractor for 15 years. I find I am busy when she is too busy, as I get her overflow. I market my practice by getting involved in our community: I participate in running groups and am working with a community organization on planning a fundraising event. I am also speaking at our local high school and I participate in classes at our gym. My practice is progressing well but is not as lucrative as I'd like it to be. I know that building a strong practice will take time but have you any pointers for me on how I can attract more clients in as ethically a way as possible?

 
A. Dear Gabriel,

As I'm sure you're aware, given the sensitive nature of chiropractic work and in order to avoid potential injuries, your field is one of the most regulated in the world.  As a result of the very physical and sensitive nature of your work, unless you have a lot of experience in the field, most people are more than a little wary about new practitioners. Your attempts to ground yourself in the community through participating in activities is great but to most, the fact remains that you're new to the profession and as such clients will be slow to accumulate. Besides, unless you're planning to live in the town you're currently practicing in for an extended period of time, trying to win the heart and mind of the locals isn't, in my opinion, worth it because no matter how hard you try or how good you are at your work, locals know that sooner or later you will be leaving and thus establishing a relationship with you would not be in their best long-term interests.

I would suggest that you take this time while working under your supervisor to learn even more about chiropractic work by participating in as many professional activities as possible, both in person and online.  This will give you an advantage over other practitioners when you choose and establish yourself in the location that you would like to settle in and establish your practice long-term.  Lastly, the location that you do choose to settle in will make all the difference.  Choose wisely both from a professional and personal standpoint, as if both elements are not fulfilled in the city or town you select, the likelihood that you will stay long enough to establish the practice of your dreams is unlikely.