Oct 7, 2024
Panama City, Panama  

“Yesterday I had to run down the street to catch my stuff before it all blew away!”

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

After a whirlwind weekend we are back in Panama finalizing residency and checking up on our property investments. Nice to be back where the temperature is consistent.

We left Ontario last week, where the fall continued to bless its residents with above average day-time temperatures to wake up Friday morning in Calgary, a single degree above freezing. 

As if that wasn’t enough, by mid-day, the wind was gusting to 80-90km/hr. I felt better at having rented a mid-size SUV to avoid being pushed around too much.

We were in the province primarily to celebrate my mother-in-law’s birthday. All 4 of her kids were in attendance, plus brother and sister in-laws, grandchildren, great-grandchildren and a large number of friends and residents from her church and residence. 

One fellow quipped how nice it was to attend a get-together that wasn’t a funeral.

My wife’s mom lives in the southern Albertan city of Lethbridge. It’s 2 hours south of Calgary, straddling the Old Man River, on the prairie. On a clear day you can make out the Rocky Mountains to the west.

This is a land of ranches growing wheat, barley and canola. That plus cattle – home of the famous “Alberta Beef”. Real cowboy country. Every other vehicle is a pick-up truck capable of hauling something.

Enroute to this small city, we stopped in the small town of Nantan. Cute prairie town, with a couple of gas-stations, a few restaurants and shop; a small down-town. 

And one unique antique store/flower shop. 

The owner is a Dutch fellow we knew from Canmore. When he was there, he owned an amazing flower shop – had a real gift for arranging bouquets. He was so good that one of my wife’s nieces hired him to arrange of the flowers for her wedding at the Banff Springs Hotel.

Unfortunately for him, he became allergic to the fertilizers and preservatives used with flowers and he had to transform his shop into something else. 

That too was a success – with eclectic coats, clothing and accessories. One Christmas my daughter gifted me with an umbrella with a handle like that of a sword – with money she had earned as a hostess at a local restaurant. I still have it and receive compliments every time I use it.

Eventually, he grew tired of Canmore, sold his business and home and moved to a tiny town south of Calgary. Purchased an old church and renovated it into a home.

Naturally, he became bored, so he opened up a store selling clothing and what not, in a slightly larger town near his. Then closed that and opened up this existing one.

We stopped by because my wife had asked him if he could prepare a unique bouquet for her mom’s birthday. She told, him, however, that we only had a small window to do so, since we were expected in Lethbridge by 11:00 AM. 

Not a problem, he said. I don’t open until 10 normally, but I’ll open at 9 for you.

True to his word, he was busy moving displays and product out in front of his storefront when we pulled up, at 10 minutes past nine.

“I’m glad the wind has died down”, he told us. “Yesterday, I had to close early, after I had to chase down half my displays due to the wind!”

The flower arrangement was amazing. Among the various blossoms was a rare rose of a bronze colour. Everyone talked about it later. All wanted to know from where we got it.

Just goes to show that if a flamboyant European city boy can make a business succeed in a red-neck prairie town – chances are you can too.

The key lessons are these:

1. Work in a business for which you are passionate. This provide the necessary motivate for you to be:
    
2. An expert in the service or product you provide which in turn helps you be:
    
3. The number 1 player in your industry, in the area to which you serve. 

Remember, for a small business – the most successful strategy is to become the premium, best quality provider – where there are few competitors, so you can charge prices that pay you a high-margin. 

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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