VANCOUVER ISLAND – As 2023 draws to a close, we would like to share some of the insights offered by some of our experts throughout the year. We hope you find them useful and wish you all the best in 2024.
How can I get started on sustainable procurement?
You can:
- Reassess your current contracts and agreements to identify areas to improve
- Identify problem suppliers and address weak areas in your supply chain
- Create a more thorough research process when approaching the market for procurement agreements
- Minimize vendor risk by creating a more diverse and cost-effective contractor/vendor portfolio
- Be rigorous in evaluating contractors and vendors, ensuring they comply with regulatory requirements like WorkSafe BC registration
Deb Smilski is AVP, Procurement & Premises for Coastal Community.
If I want to fight inflation by staying lean, who should be on my team?
To fight inflation by staying small, focus on what you can control. Begin by putting together a professional team and start early, not when your business is in crisis. Your team should include:
- An accountant to offer tax strategies and ways to streamline costs
- A financial planner to give advice on your personal finances and business goals
- A business account manager to help with advice on loans and lines of credit and be a great sounding board for solutions to problems
Fred Zeitler is a Senior Business Relationship Manager with Coastal Community.
What do I need to consider before engaging a strata property manager?
If you are thinking of engaging a property manager, you may want to decide how they will:
- collect the fees
- handle bill payments
- decide what to do with excess funds on deposit
- handle insurance considerations
- determine any lending considerations
Melisa Beatty is Regional Manager, Business Services for Coastal Community.
How important is networking in my career pathway?
It’s critical. I’m a part of the Coastal Young Leaders Network and attend the Leadership conference each year. People are sometimes so focused on the external networking piece that sometimes they forget that a big part of business development is internal. Make sure you network with your peers and tap into those resources.
Erin Norris is Branch Manager at Coastal Community’s Hammond Bay location.
