Sep 30, 2024
North Bay, Ontario  

“Did you see a lot of homeless people when you visited?”

Can’t read the full email – click here for the online version.

We took a drive the other day to the picturesque town of Temiscaming. This is a town of some 2000 inhabitants, on the Quebec side of the Ottawa River, a short 40-minute drive, Northeast of North Bay. 

Surrounded by forests, and a swift river that empties a series of large lakes from the Quebec hinterland, this location was a natural spot for early logging, a sawmill and then later, the founding of a pulp and paper mill. 

The creation of such a mill was economic because the Canadian Pacific Railway had put in a line to here in 1886; there was plenty of wood and the existence of swift water made hydroelectricity a source for cheap power. 

Indeed, the paper mill ran successfully for decades until 1972, when the parent company decided it was uneconomic.

The closure of the mill forecast the death the town. But amazingly, former employees and residents, under the leadership of Frank Dottiri, rallied and purchased the mill and brought it back to life, under the name of Tembec. The new company focused on producing specialty cellulose products, which allowed them to tap into new markets and build a reputation for innovation and quality.

In 2017, having grown to multiple locations and thousands of employees, the firm was sold to Rayonier Advanced Materials – which has been the owner and operator of the Temiscaming plant up to today.

But the saga of the mill is not over.

In July of this year, Rayonier announced the closure of its high purity cellulose plant. Some 275 employees are losing their jobs. The town of Temiscaming is once again facing a dismal future.

Which is why my parents asked me if we saw homeless folks loitering on the town’s streets.

Well, all I can say is there was a whole of nothing going on. One gas station and one restaurant appeared to be open. A few people walking the abandoned railway line. A few more near the dam above town that used to generate power but was mothballed by Hydro Quebec years ago.

I can say that the waterfalls that runs through Gordon Chutes, was beautiful. The red and orange of the leaves on all the maple trees on the surrounding hills was spectacular. 

One could envision the early lumber jacks and log drivers plying their trade. And feel the energy of an earlier day with the fur trade and mining exploration.

But for the residents of today – it’s a pretty gloomy outlook – for now.

Which brings up a very important point for you and your business.

The worst number in business is one.

One vendor. One client or customer. One employee. One industry.

Anything goes wrong with that one thing – your entire business and livelihood can go up in smoke. 

To protect yourself from such a situation, you will want to have in place a plan “B”. An alternative source of revenue. More than one key employee, vendor, or client. 

The town of Temiscaming will no doubt overcome its current predicament. And certainly, those involved in the outdoor recreational industry should do well. But for those who did not save up for a rainy day, it will be a tough slog.

May you avoid a similar outcome.

Until next week,

Stay healthy and focus on profit! 

- Hugh 
The “Profit Accelerator” Expert

P.S. Did you know that even tiny improvements of 1-3%, in just 12 fundamental areas of your business could give you 50% and more improvement to your bottom-line? Test out my brand-new Profit Acceleration Simulator^TM  and discover the true impact of a conservative estimate of Profit Acceleration initiatives on your business and see for yourself. (https://hughtafel.com/sim)

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