I often speak to groups of small business owners and I keep hearing the same comment over and over again with many of them saying that marketers don’t matter or marketing doesn’t matter anymore.There are many reasons I’ve heard as to why marketing doesn’t matter: “all my business comes by referral,” “I never spent money on marketing and my business grew,” “marketing is a waste of money,” “I see no value in marketing,” “marketing is all luck so why spend money on it,” and so on.Oh, how they are so very wrong! Below are the top 3 reasons why:1. Their definition of marketing is wrongWhen business owners tell me that marketing doesn’t matter, they usually have a totally different understanding of what marketing is than those who recognise how marketing contributes to business goals where it enables you to charge the most money you can for your services and products.Marketing is first about spending time building a solid foundation based on strategy before proposing a series of tactics aimed at lifting sales. Until the business finds a way to change the context of how their ideal customer views what they do, and then becomes become the obvious choice provider, they’ll find that their marketing efforts never seem to build momentum or gain any return on investment.You must be able to enter the conversation taking place in the head of your customers. Or, to look at it in a different way, to be able to address the number one question on your customer’s mind at exactly the right time.So, how do you do this? The conversation that is taking place in every prospective customer’s mind revolves around two major points. There is a problem they have, and that they don’t want… and there is a result that they want, and they don’t have.Those who often misunderstand marketing believe that it is only about advertising campaigns, brochures, flyers, website, email marketing, SEO, tradeshows, social media, copy, etc. These are the tactics – the way you implement your marketing. I’d argue that marketing is essentially the core of business strategy because it is about understanding the current customer, tapping into their fears, their goals and their aspirations and then creating products and services that the ideal customer is willing to buy from a brand they now they know, like and trust.2. They believe either they or their co-worker can do itSometimes in the “do it all yourself” world of small business (or even big business when it comes to it), it’s difficult to identify the areas that require outside help. A business may be able to set up their newsletter, add plugins to WordPress, write a Facebook or LinkedIn post, and clumsily create header graphics, but you need somebody who is trained, practiced, and skilled at looking strategically and holistically at the marketplace, understanding the customer, and then creating unique opportunities based on this understanding.Just think about it for a minute; just because you have a calculator and excel does that mean you are an accountant? If you have a ruler, pencil and have watched some episodes of Grand Designs – does that make you an architect? If you post regularly to your friends on Facebook and Instagram – does that mean you are a social media expert?So why do small businesses believe that by buying a Mac and some software they will become a designer, marketer and communications expert?It needs to be led by a strategic marketer who can then develop an integrated marketing approach. Can you or your co-worker do this? In some cases, you can. But those who can are most likely to either come from marketing or consulting backgrounds where they have transferable skills and experience defining AND delivering against a growth strategy.If you are a small business, you need somebody who will have a very solid, process, streamlined, consistent, repeatable approach. First, they will research and learn about your company in great depth, the dynamics of the marketplace and identify shifts, trends, and changes. From there, the strategic marketer will be able to present the different elements of your marketing plan in logical order of how you should construct them, update them, or revise them; and identify the key areas you should be focusing on – be it generating leads, converting leads, increasing transactions right down to changing prices.3. They hire the wrong marketing helpThere is a huge misunderstanding around marketing strategy, marketing tactics, and marketing execution.There is a difference between being strategically capable, creatively capable and executionally capable.Small business owners don’t hire a strategic marketing coach/firm to develop creative graphics and headers; nor should you hire an advertising/graphic design agency to handle marketing strategy. A small business doesn’t need to hire a consultant or a firm who is a strong marketing executor when their biggest need is a strategy for sustainable growth. You may get more attention, but not the best results.
Business Loans In Canada: Financing Solutions Via Alternative Finance & Traditional Funding
Business loans and finance for a business just may have gotten good again? The pursuit of credit and funding of cash flow solutions for your business often seems like an eternal challenge, even in the best of times, let alone any industry or economic crisis. Let’s dig in.
Since the 2008 financial crisis there’s been a lot of change in finance options from lenders for corporate loans. Canadian business owners and financial managers have excess from everything from peer-to-peer company loans, varied alternative finance solutions, as well of course as the traditional financing offered by Canadian chartered banks.
Those online business loans referenced above are popular and arose out of the merchant cash advance programs in the United States. Loans are based on a percentage of your annual sales, typically in the 15-20% range. The loans are certainly expensive but are viewed as easy to obtain by many small businesses, including retailers who sell on a cash or credit card basis.
Depending on your firm’s circumstances and your ability to truly understand the different choices available to firms searching for SME COMMERCIAL FINANCE options. Those small to medium sized companies ( the definition of ‘ small business ‘ certainly varies as to what is small – often defined as businesses with less than 500 employees! )
How then do we create our road map for external financing techniques and solutions? A simpler way to look at it is to categorize these different financing options under:
Debt / Loans
Asset Based Financing
Alternative Hybrid type solutions
Many top experts maintain that the alternative financing solutions currently available to your firm, in fact are on par with Canadian chartered bank financing when it comes to a full spectrum of funding. The alternative lender is typically a private commercial finance company with a niche in one of the various asset finance areas
If there is one significant trend that’s ‘ sticking ‘it’s Asset Based Finance. The ability of firms to obtain funding via assets such as accounts receivable, inventory and fixed assets with no major emphasis on balance sheet structure and profits and cash flow ( those three elements drive bank financing approval in no small measure ) is the key to success in ABL ( Asset Based Lending ).
Factoring, aka ‘ Receivable Finance ‘ is the other huge driver in trade finance in Canada. In some cases, it’s the only way for firms to be able to sell and finance clients in other geographies/countries.
The rise of ‘ online finance ‘ also can’t be diminished. Whether it’s accessing ‘ crowdfunding’ or sourcing working capital term loans, the technological pace continues at what seems a feverish pace. One only has to read a business daily such as the Globe & Mail or Financial Post to understand the challenge of small business accessing business capital.
Business owners/financial mgrs often find their company at a ‘ turning point ‘ in their history – that time when financing is needed or opportunities and risks can’t be taken. While putting or getting new equity in the business is often impossible, the reality is that the majority of businesses with SME commercial finance needs aren’t, shall we say, ‘ suited’ to this type of funding and capital raising. Business loan interest rates vary with non-traditional financing but offer more flexibility and ease of access to capital.
We’re also the first to remind clients that they should not forget govt solutions in business capital. Two of the best programs are the GovernmentSmall Business Loan Canada (maximum availability = $ 1,000,000.00) as well as the SR&ED program which allows business owners to recapture R&D capital costs. Sred credits can also be financed once they are filed.
Those latter two finance alternatives are often very well suited to business start up loans. We should not forget that asset finance, often called ‘ ABL ‘ by those Bay Street guys, can even be used as a loan to buy a business.
If you’re looking to get the right balance of liquidity and risk coupled with the flexibility to grow your business seek out and speak to a trusted, credible and experienced Canadian business financing advisor with a track record of business finance success who can assist you with your funding needs.
The Magic of Oils For Skin Care
One of the key differences between conventional skin care and natural or organic skin care is not the “active” ingredients such as green tea or vitamin c, which excluding water may make up to about 5% of any product, rather it lies with the base ingredients. In natural skin care, the base ingredients are often a mix of vegetable oils and butters or waxes in contrast to the synthetic ingredients often found in conventional skin care. The use of base oils has enormous benefit for the skin. Instead of being an inert (non-active) synthetic carrier for the active ingredients, base oils contain nutrients such as vitamins, minerals and essential fatty acids that support and nourish the skin. I would go so far as to count base oils as active ingredients in skin care. So, in fact, in natural products up to 95% of any product has a supportive “active” effect on the skin. In comparison, the synthetic base ingredients in conventional skin care by enlarge, lack significant therapeutic benefit.There are many factors that affect the absorption of topical ingredients into the skin and in reality, many topical creams just sit on the surface of the skin, effectively plumping the superficial skin cells but rarely having any effect on deeper layers. The skin is designed to be selectively absorbent, being relatively permeable to fat soluble substances and relatively impermeable to water and water soluble substances. Fat soluble ingredients such as oils are absorbed more effectively and have greater effect on the cell membrane and skin matrix, supporting skin nourishment. As carriers, oils can also transport essential oils, phytonutrients, vitamins and minerals into the skin where they are most effective, rather than just having a “surface” effect. In addition, oils also help prevent skin dehydration by providing an effective water loss barrier which in turn leads to plumper, more hydrated skin.Oil absorption is influenced by the viscosity or thickness of the individual carrier oil with thicker oils tending to be absorbed more slowly through the skin. Generally fine light oils are preferable for use on the face as they absorb quickly, easily penetrating the surface layer of skin without leaving a greasy feel. Heavier oils are suitable for dry facial skin, skin on the body, as bath oils and massage oils. The degree of unsaturation will also impact on oil absorption. In general, the more polyunsaturated fat content of the oil, the better the absorption. For example Rose Hip oil is high in polyunsaturates and has quite low viscosity, making it ideal for use in face serums and creams as it absorbs quickly into the skin.It is worth noting that cold-pressed oils tend to have a greater degree of unsaturates than heat-extracted oils and for this reason are preferable. The process of cold-pressing involves the nut or seed being placed in an “expeller” which squeezes the oil out. There is some heat created by friction however, it causes little damage to the oil or its constituents. Heat-extraction uses temperatures up to 200 degrees Celsius which dramatically increases the yield of oil, making it far more cost effective but at the same time damaging the nutrient content of the oil. Unsaturated fatty acids are easily damaged by high temperatures and so heat-extracted oils will have significantly lower levels. While these oils are commonly used as cooking oils, they should be avoided for use in skin care and aromatherapy as they lack the therapeutic benefits of the cold-pressed versions.A common misconception when it comes to the use of oils is that applying them to the skin will only worsen oily skin and further create congestion. Heavier oils may sit on the surface of the skin longer before absorption, which is not ideal for already oily skin. However, the lighter, less viscous oils will be absorbed quite quickly and in many cases help to balance skin oiliness rather than contribute to it.Oils are effectively absorbed into the skin rather than sitting on the surface layer and therefore they are unlikely to cause or worsen congestion. However, many natural skin care products rely on waxes and butters as base ingredients. While enormously beneficial for the skin, they are more likely to sit on the surface and therefore have a greater likelihood of contributing if congestion is already an issue. They are unlikely to cause congestion that wasn’t previously present and the skin response really does depend on individual skin type. The percentage of waxes to butters to oils will vary in different products for different skin types. If you are unsure about what product to use for your skin type, it is worth asking the manufacturer or supplier which of their particular products will be most beneficial for your skin type.There a quite a number of nourishing carrier oils used in both skin moisturizers and serums and the range of natural products available that using nutritional base oils is ever increasing. Different oils are suitable for different skin types so knowing some basic facts about base oils will help you find the most suitable product for your skin.Sweet Almond Oil – A common used oil in skin care, it is rich in nutrition including vitamin E, unsaturated fats and essential fatty acids. It has a softening action on the skin and is useful for lubrication in massage because while not a heavy oil, it is not absorbed rapidly.Olive Oil – A heavier oil, rich in monounsaturates including oleic acid. Extra virgin olive oil come from the first pressing of the olives and is dark green in color indicating the presence of antioxidant polyphenol. It is suitable for use with dry skin as it helps stabilize the cell membrane increasing the skins ability to hold onto moisture. Olive oil also contains squalene, a hydrating and anti-inflammatory agent, ideal for skin conditions such as psoriasis and eczema.Tamanu Oil – Tamanu oil has powerful healing properties in its unique ability to promote the formation of new skin tissue. Traditionally used by the Polynesians as first aid for the skin and mucous membranes, the oil can assist with scars, burns, skin cracks, cuts, dry skin and wounds. Used cosmetically, Tamanu has healing, mild antibiotic and anti-inflammatory activity 2. For these reasons it is used in both protective and regenerative products aimed at restoring skin appearance.Evening Primrose Oil – Evening Primrose Oil (EPO) is a valuable source of gamma linoleic acid, an essential fatty acid with potent anti-inflammatory effects. Useful for dry, damaged, sensitive skin EPO helps to maintain the skin’s normal barrier functions. It is also useful topically for eczema and psoriasis.Rosehip Oil – With up to 80% essential fatty acid content, Rosehip oil is very fine and quite easily absorbed by the skin. Rosehip encourages regeneration and repair of the skin and is renowned for its skin benefits, particularly in the treatment of scars and burns. It is also known for its rehydrating effect as well as improving dry, aged and wrinkled skin.Jojoba Oil – Actually a fine wax rather than an oil, Jojoba oil is very fine in consistency and readily absorbed by the skin. It is light and non-greasy and for this reason it is ideal in face serums and creams. Jojoba closely resembles the sebum of the skin and so is beneficial for skin and scalp problems such as psoriasis and eczema. With excellent emollient properties it is moisturizing, healing and suitable for all skin types.Coconut Oil – One of the heaviest and most stable oils, coconut is ideal for hair and body application. With moisturizing and softening properties it is ideal for dry and rough skin. Coconut oil also has cooling properties and so is useful for after sun care products 1.Avocado Oil – Strong in color and dour, avocado oil is not to everyone’s liking for skin care. However, in its unrefined form it is rich in lecithin, vitamin D, E and A which offer useful sun protection and skin nutrition. Avocado oil is beneficial to drier skins.Sea Buckthorn Oil – Bright orange in color, Sea Buckthorn oil is rich in beta carotene and second only to Rose Hip in vitamin C content. It is also very rich in essential fatty acids. This rich combination of nutrients mean it is extremely beneficial as a base oil in skin care. With moisturizing, anti-inflammatory and restorative properties, it is easily absorbed and useful for all skin types.Author: Ananda Mahony ND. Ananda is a naturopath and skin specialist. She owns Vitale Natural, an organic skin care store and beauty salon in Paddington, Brisbane. www.vitalenatural.com.au